Executive Development Program In Strategic Management

Strategy & Leadership

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  • 25,000+

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Enrolment closes on 20 Jan, 2022

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  • Duration: 5 months

    Sundays from 10.00 a.m. to 1.00 p.m. IST (3 Hours)

  • 20 Feb, 2022

    Start Date

  • Batch 5

Enrolment closes on 20 Jan, 2022

Want to know more? enquire now

or call us on +91-9873022020

About this course

Harness the Power of Strategic Management for Effective Decision Making

Strategic management is no longer the prerogative of top management or corporate headquarter. Middle-level managers are playing a crucial role in the process of organizational decision making. Though they heavily contribute to the strategic decision-making process, which defines the path and the pace of the organization, many middle-level managers are not fully aware of the various tools and frameworks of strategic management. Thinking primarily at the operational level often binds organizations into silos of partitioned thought. A strategic perspective enables liberation from these silos and promotes the achievement of goals at the organization level. In recent years, there has been much discussion on organizational competencies and organizational resources as the starting point of strategy. Hence, this program intends to explore the confluence of organization-level resources and competencies with industry-level opportunities and challenges associated with today’s rapidly evolving globalized world.

The program specifically aims to enable the participants:

• To understand the tools and frameworks in strategic management

• To analyze organizational resources and competencies

• To appreciate the difference between business-level and corporate-level strategies

• To explore the importance of strategic innovation and strategic transformation

• To understand the relevance of macro-level factors such as globalization or policy reforms for pursuing sustainable growth strategies

Read Less

Harness the Power of Strategic Management for Effective Decision Making

Strategic management is no longer the prerogative of top management or corporate headquarter. Middle-level managers are playing a crucial role in the process of organizational decision making. Though they heavily contribute to the strategic decision-making process, which define... Read More

Get a deeper understanding of

  • Corporate Strategies
  • Tools and frameworks in strategic management
  • Corporate Restructuring and Governance
  • Innovation
  • Entrepreneurship
  • Corporate Sustainability
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Key skills you’ll learn

  • Planning and organising skills
  • Critical thinking skills
  • Decision-making skills
  • Performance management

Benefits for All Students

Learn to define the direction of your organization by contributing to formulation and implementation of strategies to solve problems

Exposure to all the relevant frameworks in strategy including leading theoretical perspectives in strategy, process of resource analysis, management and acquisition

Course covers the entire gamut of strategy - including relevance for small and new ventures and large international firms, and from corporate strategy to operational strategy, and from formulation to implementation

Pedagogy designed with project work to provide practical implementation of strategic tools and frameworks

Professor Apalak Khatua - Programme Director - B.Arch (B.E. College, Shibpur), FPM (IIM Calcutta)

Prof Arindam Mondal, Strategic Management Area, XLRI Jamshedpur
B.E. (Bengal Engineering College, Shibpur), FPM (IIM Calcutta)

Prof Indrajit Mukherjee, Strategic Management Area, XLRI Jamshedpur
B.Tech (IIT-KGP), PGDBM (IIM Calcutta), FPM (IIM Calcutta)

Prof Kalyan Bhaskar, Strategic Management Area, XLRI Jamshedpur
FPM (IIM Ahmedabad)

Prof Manoj T Thomas, Strategic Management Area, XLRI Jamshedpur
BE Civil (NIT Raipur), PGDRM (IRMA), M Phil Economics (CESS Hyderabad), Fellow (IRMA)

Prof Saurav Snehvrat, Strategic Management Area, XLRI Jamshedpur
MBA (University of Michigan), FPM (IIM Ranchi)

Prof Tata L Raghu Ram, Strategic Management Area, XLRI Jamshedpur
M.Sc (Limnology, Bhopal University), Ph.D. (Wildlife Biology / Biodiversity Impact Assessment – Saurashtra University)

Upon successful completion of the course, participants will get a certificate of completion from XLRI Jamshedpur

Learn to define the direction of your organization by contributing to formulation and implementation of strategies to solve problems

Exposure to all the relevant frameworks in strategy including leading theoretical perspectives in strategy, process of resource analysis, management and acquisition

Course covers the entire gamut of strategy - including relevance for small and new ventures and large international firms, and from corporate strategy to operational strategy, and from formulation to implementation

Pedagogy designed with project work to provide practical implementation of strategic tools and frameworks

Professor Apalak Khatua - Programme Director - B.Arch (B.E. College, Shibpur), FPM (IIM Calcutta) Prof Arindam Mondal, Strategic Management Area, XLRI Jamshedpur B.E. (Bengal Engineering College, Shibpur), FPM (IIM Calcutta) Prof Indrajit Mukherjee, Strategic Management Area, XLRI Jamshedpur B.Tech (IIT-KGP), PGDBM (IIM Calcutta), FPM (IIM Calcutta) Prof Kalyan Bhaskar, Strategic Management Area, XLRI Jamshedpur FPM (IIM Ahmedabad) Prof Manoj T Thomas, Strategic Management Area, XLRI Jamshedpur BE Civil (NIT Raipur), PGDRM (IRMA), M Phil Economics (CESS Hyderabad), Fellow (IRMA) Prof Saurav Snehvrat, Strategic Management Area, XLRI Jamshedpur MBA (University of Michigan), FPM (IIM Ranchi) Prof Tata L Raghu Ram, Strategic Management Area, XLRI Jamshedpur M.Sc (Limnology, Bhopal University), Ph.D. (Wildlife Biology / Biodiversity Impact Assessment – Saurashtra University)

Upon successful completion of the course, participants will get a certificate of completion from XLRI Jamshedpur

Are You Eligible?

Are You Eligible

Education

  • For Indian Participants – Graduates (10+2+3) or Diploma Holders (only 10+2+3) from a recognized University (UGC/AICTE/DEC/AIU/State Government) in any discipline
  • For International Participants – Graduation or equivalent degree from any recognized University or Institution in their respective country
  • Proficiency in English, spoken and written, is mandatory

Work Experience 

  • Working professionals with a minimum of 4 years of work experience

Syllabus at a Glance

  • Fundamentals of Management
  • Introduction to Strategic Management
  • PESTEL framework for analysing the business environment
  • 5-Forces Model for Industry Analysis
  • Strategic Groups and Industry boundaries
  • Identification and classification of organizational resources
  • Analysis of a few key resources- Culture, knowledge, market related capabilities
  • Value chain, Activity maps, Business model
  • Configuration of resources for competitive advantage – VRIO & SWOT
  • The resource-based theory and its implications for strategy
  • Value creation and appropriation in business
  • Cost Leadership & Differentiation Strategy
  • Focused Strategy & Dual Strategy of Differentiation and Cost Leadership
  • Business Performance Management – the financial and strategic approach
  • Components of  Balances Scorecard (BSC) – constructing and implementing BSC
  • Competitive Strategy to Corporate Strategy
  • Strategy & structure of Multi-business Organizations
  • TCE framework & Vertical Integration
  • Related and Unrelated Diversification
  • Globalization & International Business
  • Merger and Acquisitions
  • Alliances and Joint Ventures
  • Agency relationship
  • Governance mechanisms
  • Corporate Governance in Indian Context
  • Introduction to Innovation Strategy
  • Managing the process of Disruptions and its symptoms
  • Business Model Innovations and its link with innovation
  • Fundamentals of Entrepreneurship &  Entrepreneurial Financing
  • Implementing Strategic Change Management: Role of Culture, Structure & Leadership
  • The business case for corporate sustainability
  • Tools of corporate sustainability
  • Reporting frameworks of corporate sustainability
  • Strategy and sustainability
  • Value creation through sustainability
  • Understanding ‘Market’ and ‘Non-market’ arenas
  • Society-firm relationship- A stakeholder approach
  • Evolution of Corporate Responsibility in the World & India
  • Strategic CSR and Corporate Political Activity as a Non-market Strategy
  • Non-market Strategy and Organization performance

  • Fundamentals of Management
  • Introduction to Strategic Management
  • PESTEL framework for analysing the business environment
  • 5-Forces Model for Industry Analysis
  • Strategic Groups and Industry boundaries

  • Identification and classification of organizational resources
  • Analysis of a few key resources- Culture, knowledge, market related capabilities
  • Value chain, Activity maps, Business model
  • Configuration of resources for competitive advantage – VRIO & SWOT
  • The resource-based theory and its implications for strategy

  • Value creation and appropriation in business
  • Cost Leadership & Differentiation Strategy
  • Focused Strategy & Dual Strategy of Differentiation and Cost Leadership
  • Business Performance Management – the financial and strategic approach
  • Components of  Balances Scorecard (BSC) – constructing and implementing BSC

  • Competitive Strategy to Corporate Strategy
  • Strategy & structure of Multi-business Organizations
  • TCE framework & Vertical Integration
  • Related and Unrelated Diversification
  • Globalization & International Business

  • Merger and Acquisitions
  • Alliances and Joint Ventures
  • Agency relationship
  • Governance mechanisms
  • Corporate Governance in Indian Context

  • Introduction to Innovation Strategy
  • Managing the process of Disruptions and its symptoms
  • Business Model Innovations and its link with innovation
  • Fundamentals of Entrepreneurship &  Entrepreneurial Financing
  • Implementing Strategic Change Management: Role of Culture, Structure & Leadership

  • The business case for corporate sustainability
  • Tools of corporate sustainability
  • Reporting frameworks of corporate sustainability
  • Strategy and sustainability
  • Value creation through sustainability

  • Understanding ‘Market’ and ‘Non-market’ arenas
  • Society-firm relationship- A stakeholder approach
  • Evolution of Corporate Responsibility in the World & India
  • Strategic CSR and Corporate Political Activity as a Non-market Strategy
  • Non-market Strategy and Organization performance

Learn from the Best Faculty

About The Institute

XLRI Jamshedpur

XLRI is one of India’s leading management school based in Jamshedpur, Jharkhand, India. Established in 1949 as the Xavier Labor Relations Institute, by Fr. Quinn Enright, XLRI is acknowledged as India’s oldest business management school.

XLRI with its single vision of Magis, i.e., pursuit of excellence, focuses on three areas: academic excellence, personal values and social concern. XLRI spares no effort to make its curriculum world-class and deliver it in the most effective manner. It constantly scans the developments in business and in society and tries to pro-act to meet the challenges. Its world-class faculty with its commitment and deep sense of service delivers the curriculum very effectively.

Consistently being acknowledged as the Best “HR Course” in Asia–Pacific, it has also been recognized for its research acumen by the London Business School and is ranked among top 5 research schools in India cutting across management and technical institutes. For more details, visit www.xlri.ac.in

XLRI features consistently among the top 5 business schools of the country. In 2012 XLRI was ranked No. 4 among top 75 B-schools in India across Private and Government sector by Outlook India. Among other rankings, it was ranked #5 by the 2012 edition of CNBC-TV18′ s Top B-Schools in India, #4 by the Business Today 50 best business schools of 2012, #3 by Business World B Schools Unplugged.

Fee Structure for

Instalment Schedule

Installement 1
INR 30000 + GST Due by: 20 Jan, 2022
Installement 1
USD 700 Due by: 20, Jan, 2022
Installement 2
INR 20000 + GST Due by: 15 Feb, 2022
Installement 2
USD 350 Due by: 15, Feb, 2022
Installement 3
INR 30000 + GST Due by: 05 May, 2022
Installement 3
USD 700 Due by: 05, May, 2022
OR
Pay for Total Amount
INR 80000 + GST Due by: 20, Jan, 2022
Pay for Total Amount
USD 1750 Due by: 20, Jan, 2022

Financial Aid

To learn more about financing your course, visit the course Financial Resources Hub

Why Should You Join a Program Offered Through Talentedge?

  • 95% Completion Rate
  • 92% Satisfaction score
  • 78% Referability
  • Live & Interactive Digital Learning
  • Convenient Schedules to Suit Working Professionals
  • Benefit from Talentedge’s Alumni Network
  • Practical/Hands-On Experiential Learning
  • Options for Loan Assistance

Program Starts in 28 Days

Executive Development Program in Strategic Management Course

The term “strategy” is derived from the Greek word “strategos”, which means an army general. In the military, strategy refers to the way of using and directing the armed forces to achieve war goals.

According to Kenichi Ohmae, a renowned Japanese business strategist and author of The Mind of the Strategist, the main purpose of strategy is to enable a company to achieve its sustainable edge over its competitors. There is no reason to strategize if there is no competition.

The management of resources in order to attain an organization’s goals and objectives is referred to as strategic management.

Setting objectives, examining the competition in the market, reviewing strategies, and ensuring that those strategies are effectuated throughout the organization, are all part of the strategic management.

Sun Tzu, an ancient Chinese philosopher, and strategist shared his thoughts about strategies that are still being studied by business leaders and researchers. In his most popular book, The Art of War, Sun Tzu focused on the deceitful components of the strategy. According to him, it is both an art and a science.

Also Read: Understanding The Basics Of Strategic Management

 

What is Strategic Management?

As per Jauch and Gluek, “Strategic Management is a stream of decisions & actions which leads to the development of an effective strategy or strategies to help achieve corporate objectives.” They further defined it as the way in which strategists determine & make strategic decisions.

In simpler terms, it is a process of identifying and outlining the strategies that managers can use to improve the performance of their organizations. It is the art of managing employees to maximize their potential in order to acquire the defined goals.

Market experts also define it as decisions taken by the managers to ameliorate the organization’s brand value. It is a method for strategists to establish the goals and objectives of the organization and work towards achieving them. To make informed decisions in order to succeed, they must have a detailed understanding and analysis of their competitors in the market.

Also Read: What is the Concept of Strategic Management

 

Essential Components of Strategic Management

The components of strategic management can be divided into 4 parts. These four components are as follows:

  1. Strategic Intent
  2. Mission Statement
  3. Vision Statement
  4. Goals and Objectives
     
  • Strategic Intent: As per researchers, Prahalad and Doz, “Intent is used here to describe long-term goals and aims, rather than detached plans. Strategic intent is crucial for a firm to aim for goals for which one cannot plan. It is important to separate that orientation (strategic intent) from strategic planning or strategies. Strategic intent allows for a firm to build layers of competitive advantage painstakingly, to accomplish long-term goals.”

    To make it simpler to understand, a company’s strategic intent is the one-of-a-kind purpose that distinguishes it from its competitors. Strategic intent describes the nature of a path that a company must take in order to achieve its long-term strategic goals.


Also Read: Strategic management: What it is and why you need it

 

Strategic intent has the following three attributes:

Sense of Direction:  As per this attribute, an organization should work towards a common long-term goal that is both consistent and shared. A well-defined course of action aids an organization’s long-term strategic intent.

Sense of Discovery: Sense of discovery is important since employees get demotivated if the strategic intent is not clear. The strategic intent should motivate the staff to carry out difficult tasks and experiment with different ideas to accomplish them.

Sense of Destiny: The sense of density relates to the strategic intent’s ability to give purpose to the organization’s existence. The strategic intent must be capable of guiding them in the right direction.

Mission Statement: According to economist David F. Harvey, “A mission provides the basis of awareness of a sense of purpose, the competitive environment, the degree to which the firm’s mission fits its capabilities and the opportunities which the government offers.”

In simple terms, a well-designed mission statement indicates the extent of a company’s operation in terms of products or services offered as well as the distinctive purpose. It may also incorporate the company’s perspective on how it does business or how it handles its employees. It also shows what the company aspires to be in the future.

Given below are the attributes of a mission in Strategic Management:

  • It should be original and different from the competitors
  • It must be capable of analyzing the major elements of the strategy
  • The mission should be comprehensible so that actions can be taken accordingly

Vision Statement: Warren Bennis and Burt Nanus in their book, Leaders: Strategies for taking charge, mentioned that “To choose a direction, a leader must first have developed a mental image of a possible and desirable future state of the organization, which we call a vision. The vision articulates a view of a realistic/ credible, attractive future for the organization. With a vision, the leader provides an important bridge from the present to the future of the organization.”

A company’s vision is a representation of what it aspires to be or be renowned for. Without vision, corporate performance is likely to suffer. It helps in both well-founded decision-making and compelling business planning.

The following are some of the advantages of a vision:

  • The idea of experimentation is promoted through vision
  • The organization’s vision encourages long-term planning
  • A company’s vision inspires and drives its employees
     

Goals and Objectives: 

 A goal is an intended financial or non-financial state that a company aims to achieve in a given period of time. Objectives refer to the measures that will be taken to acquire a company’s goals. These are the fundamentals of strategic planning. An organization’s policies are formed in order to attain these goals.

 

Also Read: What Are the Functions of Strategic Management?

 

To understand the key difference between goals and objectives, refer to the table given below -

Goals

Objectives

These are inch-perfect and quantifiable

There can be multiple objectives for an organization

Goals are time-driven and must be attained during a given period of time

Objectives can be both short-term and long-term

These are practical as well as onerous

Objectives should be both doable and open-ended

 

Levels of strategy in 2022

The three levels of strategy were created by Gerry Johnson and Kevan Scholes, among other notable managerial philosophers, to help guide the organization’s direction in order to achieve its objectives.

The strategy can be broadly divided into three levels:

  1. Corporate Strategy
  2. Business Strategy
  3. Operational Strategy

 

Corporate Strategy: This is the first stage of the strategic management process and is related to the organization’s goals and objectives. Developing a corporate strategy will be significantly easier for small organizations because they are targeting a particular market and have a sprinkling of factors to consider. However, for a large company, things become complicated very easily since they may need to deviate from their core activities in order to expand their business into new markets.

Business Strategy:  The people who are in the driving seat of the organization determine the business strategy. It is significantly more particular than the corporate strategy. It is concerned with large companies as they are captivated by multiple activities. Even in small companies, it is good to concentrate on business strategy to have a better understanding of the operation's numerous aspects.

Operational Strategy: Operational strategy refers to the day-to-day strategies that help perform a company's operations persuasively. This is the most crucial stage of a strategic management process because without a daily plan you will run-of-the-mill while your competitors keep progressing.

 

Also Read: What are the Three Levels of Strategy in any Organisation?

 

Benefits of Strategic Management Course:

In today’s competitive world, strategic management has become a crucial requirement for a firm to be successful. Its benefits are broadly categorized into two parts:

  1. Financial Benefits
  2. Non-Financial Benefits

Financial Benefits:  Research has shown that companies that use strategic management concepts are more commercially successful than companies that don’t. High-performing companies make better decisions because they examine both short and long-term repercussions and steer their organizational strategy correspondingly.

Non-Financial Benefits: Companies that practice strategic management are more aware of potential extrinsic risks. Furthermore, it helps provide a better understanding of a competitor's strategies. By employing strategic management concepts resistance to change is lessened and staff productivity considerably increases.

Besides these benefits, the following are a few more essential benefits of strategic management:

  • The implementation of strategic management in the organization helps to identify, prioritize, and exploit opportunities.
  • A significant amount of time can be saved on the ad-hocs if strategic management techniques are utilized properly
  • It helps make informed decisions and support the aimed objectives
  • By employing strategic management techniques, the negative effects of adversity are reduced
  • The application of strategic management sort out the duties of an individual in the organization

     

Also Read: 7 Important Stages of Strategic Management Process

 

Roles that Strategists perform in 2022

A strategist is someone who oversees and develops strategies for an organization to acquire its long-term as well as short-term objectives. He is in charge of analyzing the core business of a company to recognize its strengths, weaknesses, and areas for progress.

Given below are a few key responsibilities of strategists that help them achieve organizational objectives:

Strategic Planning: A strategist is accountable for creating a strategic management process and ensuring that it is implemented throughout the organization. They make sure that the process is timely, focused, and beneficial. They also ensure that the process identifies the existing difficulties in the organization.

Strategic Performance Management: Strategists monitor the key performance indicators (KPI) and assess the performance of the company to predict the company’s progress. This helps to do precise budgeting and resource allocation.

Strategic Risk Management: A strategist is also responsible for developing and implementing threat detection and evaluation systems across the company. He creates possible risk-mitigation scenarios and provides risk reports for them.

Coaching: Strategists coach the department heads to ensure that the plan is carried out smoothly and objectives are met. They assist in departmental planning and analyzing the current strategies to be certain that all departments are aligned with the company’s core strategy.

Data Analysis: Strategists can determine the areas of improvement in an organization by assessing the internal data of strategies. They can also use data analysis to compare early outcomes to long-term market patterns, which will help them make financial decisions.

Also Read: The Components of Strategic Management

 

Executive Development Program in Strategic Management

Evolving a mindset and skill to evaluate the company’s internal and external conditions is a prerequisite if you successfully want to reach its leadership positions. This executive development program in strategic management by XLRI Jamshedpur is designed for mid-level executives to young executives aspiring for decision-making roles.

This strategic management course offers you an in-depth understanding of corporate strategies and sustainability, decision-making, and performance management. It will teach you how to use established frameworks to reinvent your organization’s strategies and rise to senior leadership positions.

 

Also Read: The Ideal Strategic Management Model: Decoded

 

Why should you pursue an online course in Strategic Management from Talentedge? 

In this digital era, where everything is available on the internet, the popularity of online learning is also expanding like the clappers. There are numerous advantages of taking an online certification course from XLRI such as honing your management skills. Working professionals can attend classes and learn while maintaining their daily routine with the regular jobs.

Doing an online certification course may demonstrate to the company that you are committed to your profession while striving for growth in your career. Also, you can put these skills to use in your current job.

Today, Talentedge offers a range of online certification courses in association with the world’s leading institutes. The certificates from these renowned institutes carry immense prestige and add value to your career growth. Here are some of the features of our online certifications courses by XLRI:

  • Working professionals will be benefited from convenient weekend schedules
  • Digital learning that is both live and interactive
  • Practical and experiential learning
  • Doubt clearing sessions

     

Also Read: Key Steps in the Strategic Management Process?
 

Best Tips to Become an Effective Strategist in 2022 

To become an effective strategist, you must be able to figure out the most efficient, and inventive approaches to overcome obstacles and achieve goals. Good strategists are excellent listeners as well as empaths. They can dumb down the strategies and convey information. These qualities, when combined with in-depth knowledge and domain competence, can help you become a successful strategist.

 

Also Read: Advantages & Scope of the Strategic Management Course

 

Given below are the 5 key tips to becoming an effective and efficient strategist:

Innate Curiosity: Good strategists are inquisitive and try to decipher certain situations. They are people who show a desire to learn new things as well as a willingness to do so.

Empathetic Observation: The best strategists can put themselves in other people’s shoes and feel empathy and compassion towards them. This makes it easy to grasp what they want and need without any carping.

Excellent Communication: Efficient strategists are adept at conversing as well as listening. They can make complex things seem simple, or no less than reasonable or understandable. They should also be proficient at expressing their ideas to diverse groups of people.

Optimism:  Great strategists not only have in-depth knowledge of a business to understand how it operates but also the creativity, vision, and optimism to envisage how it may operate more effectively.

Problem-Solving Skills: Good strategists can go through the facts, evaluate the problem, and come up with an effective solution. Efficient problem-solving skills can remove any sort of ambiguity or fallacy in order to help teams achieve their objectives.

 

Also Read: Know how certification in strategic management and leadership is beneficial for your career

 

Frequently Asked Questions- Executive Development Program in Strategic Management Course
 

Q. What is a strategic management Course?

Ans: The management of an organization’s objectives in order to meet its objectives is referred to as strategic management. It includes setting goals, examining the competitors, reviewing strategies, and ensuring that management implements the strategies across the organization.

Q. Is strategic management a good career?

Ans: Strategists have a lot of options in their careers to grow. Every firm, regardless of their job, has unquestionable demand for this post. The contents taught in strategic management courses have a significant benefit and will help you reach the leadership positions in your organization.
 

Q. Why does an organization need strategic management?

Ans: A business strategy gives a sense of purpose and direction to the organization. It is essential that everyone in the organization has clear goals and is committed to the organization’s objectives. Strategic management helps ensure that an individual's goals are aligned with the organization’s objectives.
 

Q. What are the four components of strategic management? 

Ans:  An effective and efficient strategic management includes four components: strategic intent, mission, vision, goals, and objectives.
 

Q. What are the three levels of strategy?

Ans: The three levels of strategy are —corporate strategy, business strategy, and operational (functional) strategy.
 

Q. What to expect from a strategic management course? 

Ans: In this course, you will learn about corporate strategies and sustainability, functions of strategic management, how to develop an effective business strategy, decision-making, and performance management. It will teach you how to use established frameworks to reinvent your organization’s strategies and rise to senior leadership positions.
 

Q. Why should I do a Strategic Management course online from Talentedge?

Ans: There are multiple advantages of pursuing this strategic management course online by XLRI from Talentedge:

  • Working professionals will be benefited from convenient weekend schedules
  • Digital learning that is both live and interactive
  • Practical and experiential learning
  • Doubt clearing sessions

     

 

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