From the course: Leveraging AI for Small and Medium Business Growth
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Strategy as a learning process
From the course: Leveraging AI for Small and Medium Business Growth
Strategy as a learning process
- [Instructor] Developing an AI strategy, especially for small and medium-sized enterprises, shouldn't be about chasing the latest strengths. It should be about leveraging AI to gain a real competitive advantage and fuel future growth. This is precisely why I have conducted over a dozen workshops with companies on this very question. How do we address AI strategically in our business? There are many different ways to think about strategy in general, but I want to contrast two of the most common approaches. The first is what I call strategy as decision-making. In this approach, a firm takes its current strategy and initiates a process to review it. This typically includes market research, analysis of the competitive environment, a deep dive into an assessment of internal resources and capabilities, an analysis of the financial health of the company, and so on. Based on this comprehensive review, the leaders of the firm collectively decide on a new strategy. While this approach is still…
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