The recent years have been instrumental in altering the dynamic of the domain of business. Today, businesses don’t just need management; they need consistent upgradation and innovation to keep up with the rapidly changing market trends. Naturally, when the operational aspects of business change shape, business professionals need to be moulded accordingly so they can adapt better to the transforming times.
While marketing and management used to be counted amongst the most preferred courses for aspiring business professionals, strategy seems to be the new popular choice that is attracting more and more young professionals in an almost magnetic force.
Judging by the shift, it is safe to estimate that strategy is the future, primarily because it diverges from the traditional pathway of age-old management practices and moves towards incorporating skills necessary for the times. Through this article, we analyse why strategy is taking over the professional sphere and what subsections of strategy can students strive to build their careers in.
Beginning with the significance of strategy, we can decode that it serves the four pillars that modern businesses can survive and thrive upon:-
Intervention: The process begins with strategic intervention into any issue, as an attempt to solve any major issue that a business might be encountering on the route to progress.
Identification: Strategic intervention can only be kickstarted after thorough inspection and identification of what hurdles are being met whilst businesses are trying to prosper.
Ideation: Ideation is the most significant step of strategy formulation. Coming up with a series of inventive ideas that can help address problems in the best possible manner.
Implementation: While the process of ideation holds prime importance, its implementation is equally significant. Implementation holds the potential to influence how the idea will be perceived and also its implications on the course of operations.
Innovation: Innovation in terms of adapting to the dynamic market trends is an imperative part of strategy in its entirety. Professionals with highly developed analytical skills can absolutely excel at strategy implementation as well as innovation in its implementation.
Now that we have a clear picture of what the domain of strategy entails, we can discuss the arenas where strategy comes in handy and the subsects of strategy around which aspiring professionals can build their career.
Strategy as a tool has a widespread applicability, meaning it can be employed in all sub-spheres of business. The most popular courses and combination sectors around strategy are listed below:-
Strategic Management: A great alternative to traditional marketing programs, a degree course in strategic management will lend you an upper hand over traditional degrees in management. This is because a traditional program will teach you how to manage a business while a strategic management degree will brace you with the right skills to innovate every day in an existing setup.
Finance and Strategy: Another widely popular choice, a culmination of two supremely powerful spheres- finance and strategy hold the potential to help you soar to the very top.
Digital Strategy: The digital space is often attributed as the future of all operations. Strategic insight when clubbed with the digital market formulates an immensely lucrative career option.
Strategic Branding: In a world where everything and everyone is a brand, strategic branding as a business becomes the need of the hour. You can fulfil the growth aspirations of your clients by establishing yourself as a strategic brand consultant.
All in all, strategy is reigning at the very top when it comes to popular choice of courses around business and opting for the pursuance can prove to be extremely rewarding for young professionals. Ensuring that one’s knowledge is in line with the newest tools and strategic planning models then seems to be the way up to the professional ladder. So, whether you envision yourself in an entrepreneurial or an intrapreneurial setting, pursuing strategy will certainly come in handy!
Shivangi Gupta |
Authored by Shivangi Gupta, Founder, Intelligent Education
