SECOND WEEK : STRATEGIC MANAGEMENT

In the first topic we have learn about the strategic management process, the need for integrating analysis and intuition in strategic management, the key terms in strategic management, the nature of strategy formulation, implementation, and evaluation activities. We also learn about the benefits of good strategic management and how a firm may achieve sustained competitive advantage.

Miss Ummi also give explanation about the meaning of terms "strategic management". Moreover, strategic management also have direct connection with the company's game plan to guide their goal and objectives and work hard to achieve it. Strategy plan also have their own stages that needs to be done which are strategic formulation, strategy implementation and strategy evaluation

Beside that, integrating Intuition and .analysis also can be a factors for the most organization to make decision making. Sometimes the results that we had obtained based on our intuition can be great uncertainty or little precedent.

There are several key terms to use in strategic management. There are vision, mission, strategists,competitive advantage, external opportunities and external threats,internal strengths and internal weakness, objectives, annual objectives and also lastly policies.

For the ending lecture, Miss Ummi had teach us about vision and mission statements for the company.Vision is about what the company to achieve and mission come after vision which can be defined as how to achieve the goals and objectives of the company.Thank you.

See you for the next lecture.

“All great achievements require time.”