Basics of Strategy & Value Proposition

This lecture covers the basics of strategy, including normative, strategic, and operational levels of management, the St. Gallen model, and the concept of strategic management. It also delves into the market-based view, Michael Porter's '5-Forces' Framework, generic strategies, and the value proposition. Through examples from Dyson and Airbnb, the importance of a compelling value proposition is highlighted. The lecture emphasizes the development of a strong value proposition, analyzing customer needs, competition, and differentiation. It concludes with the significance of prototyping to test and refine the value proposition.