Course Description

Business Strategy for Success

The classroom course has been approved for three hours of elective credit for IL and IN auctioneers, and three hours of elective credit for IL real estate salespersons and brokers. The correspondence course has been approved for Illinois auctioneers and Illinois real estate brokers and salespeople only.

The competitive environment for businesses in America continues to evolve and to become more complex. As such, it is critically important that managers understand the challenges that they are faced with and develop the skills needed to respond to them toward long-term profitability. A basic understanding of competitive strategy will provide a better chance for success in the dynamic environment in which we all compete.

And as auctioneers and real estate agents, you know this. In the recent Novalis survey of licensed auctioneers and real estate agents, we asked you to rate a number of topics that you would like to learn about in elective continuing education. Business strategy was your overwhelming favorite.

The course material is intended to present content regarding business/competitive strategy, to promote discussion, and to foster the sharing of perspectives and experience among fellow auction and real estate professionals. The focus of the course will be on taking a few simple concepts from models of strategic thinking that are directly applicable to your auction auction and real estate businesses. You will "learn by doing" in an interactive environment, and get an important takeaway from the course - a simple strategic plan that you can use in your business. Participants will:

• Learn the definition of strategy.
• Discuss the characteristics of the auction and real estate industries that make strategic planning challenging.
• Develop an understanding of key models of strategy formulation and how to use them in your business.
• Learn the three generic competitive strategies and which one you should adopt in your business.
• Discuss how to implement your chosen strategy.

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