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Business Strategy: Planning for Success

Course ID LC221101_LB3

  • Online
  • 10
  • Advanced
  • 10 CPD POINTS

In a changed legal profession, how does your business strategy stack up.

The legal profession has evolved rapidly over recent years. Which means it’s time to reassess your business strategy – and ask some hard questions.

Should strategy always be centred on growth? Are there other barometers for success? Could collaboration – rather than competition – be a more effective strategy for your firm?

This course will let you look through a critical lens at your organisation’s approach to legal business strategy.

WHY, this course?

You’ll learn the fundamental processes to create a strategic business plan. And then you’ll go a step further – critiquing the limits on conventional planning approaches.

You’ll take a broad look at the legal ecosystem, assessing how collaboration and innovative practices could help your organisation develop.

You’ll be introduced to the (profitable) art of ingraining a social purpose within your firm – and how to integrate this purpose into your business and strategic communications.

You’ll take stock of where your organisation is now with external and internal analysis, then define the unique goals of your organisation. And in the process, you’ll create a plan that outlines where you are now, where you want to be – and a roadmap on how to get there.

After you complete this course, you will be able to:

  • Explain foundational business strategy concepts
  • Analyse the current state of a legal business
  • Analyse disruptive strategy, growth strategy and competitive-collaborative strategy
  • Develop a strategic plan for a legal practice applying key business models
  • Develop a sustainable implementation plan to execute your strategy
  • Apply effective written and oral communication skills to communicate strategic advice.

This short course is not linked to Graduate Certificate or Masters qualification pathways.

For further enquiries please contact our team at cpd@collaw.edu.au and a Customer Engagement Advisor will contact you.

Price

Full Price $3245.00

Dates

Start date:

07 November 2022

End date:

16 December 2022

Overview

WEEK 1

MODULE 1: Introduction to business operations
  • Understand business applying a systems-based approach
  • Understand how business strategy drives business operations

 

MODULE 2: Foundations of strategy
  • Define business strategy, its purpose, and the different levels of business strategy
  • Understand the difference between strategy and tactics
  • Critically analyse different theories of strategic planning

 

WEEK 2

MODULE 3: Current state analysis
  • Describe the process of internal analysis
  • Identify and deploy 2–3 tools and frameworks for internal analysis
  • Describe the process of external analysis, including macro environmental analysis and competitive analysis

 

MODULE 4: Defining a strategy
  • Distinguish between mission, vision and purpose
  • Explain how the value disciplines model helps to create a focused strategy formulation
  • Critically discuss Porter’s Generic Competitive Strategies
  • Describe how horizon planning aids strategy formulation

 

WEEKS 3

MODULE 5: Future strategy
  • Explore the role of innovation in strategy development
  • Evaluate the relative merits of competitive vs cooperative strategies
  • Describe ways in which companies are creating strategies based on social purpose

 

MODULE 6: Strategy implementation
  • Understand the factors that contribute to the successful implementation of a strategic plan
  • Understand how strategy drives all business functions and how this subject is connected with other subjects
  • Develop strategic tactics to support strategy implementation

 

ASSESSMENT TASK 1 DUE

Blog activity: Develop your strategic vision and mission.

 

WEEKS 4

Join online conference and a review of week 3

WEEK 5

Join online conference and a review of upcoming assessments

 

ASSESSMENT TASK 2 DUE

Develop a strategic plan for an organisation

 

WEEK 6

ASSESSMENT TASK 3 DUE

Present your strategic plan in a digital format to key stakeholders

 

 

Study load (the amount of commitment required)

Study load

We recommend that you allow up to 10 hours a week for self-directed online learning and activities.

You will also need to devote around an additional 45 hours throughout the course for assessments and preparation.

 

Delivery & assessment

This is a 6-week subject, consisting of:

  • Six online modules

You will engage in self-paced study, including practical activities, online discussion forums and interactive Zoom sessions.

  • Three assessments
  1. Blog activity (10%)
  2. Strategic plan creation (50%)
  3. Strategic plan presentation (40%)

 

Who is this course for

This course is particularly suited to:

  • CEOs
  • Managing Directors
  • Principals
  • Partners
  • Practice Area Heads
  • Practice Owners
  • Marketing Directors
  • Operations Managers
  • Business Unit Leaders
  • Legal Entrepreneurs

 

MANDATORIES COVERED

This course complies with the mandatory requirements of professional skills, practice management and business skills

 

CLAIMING CPD POINTS

If you intend to claim CPD units for this educational activity, please note that CPD activities are not accredited by the Law Society of NSW or any other equivalent local authority, with the exception of Western Australia. If you hold a practising certificate in a state or territory other than Western Australia and this educational activity extends your knowledge and skills in areas that are relevant to your practice needs or professional development, then you should claim one (1) "unit” for each hour of attendance, refreshment breaks not included. Please refer to your local rules and relevant caps on claiming CPD points for the private study of audio-visual material. The annual requirement is ten (10) CPD units each year from 1 April to 31 March. Some practitioners, such as accredited specialists are required to complete more than ten (10) units each CPD year.

Please note: Practitioners holding WA practising certificates are not eligible to earn CPD points for this course.