~Nature of Strategic Management & Vision and Mission Company~

NUR FILZAH BINTI SULAIMAN

TMA2

1110820

MGB4013 STRATEGIC MANAGEMENT

In this class, I have learned about Strategic Management. Strategic Management is actually like art and science of Formulating, Implementing, and also Evaluating. It's important to make sure an organization can achieve their objectives. It's also synonym with term ''Strategic Planning'' which the results come from choices among numerous good alternatives.

Three stages of Strategic Management:

• Strategy Formulation, which is the organization, must develop mission and vision. Identify external opportunities, also threats and another resources.
• Strategy Implementing, also call as an action stage which is help the firm to establish annual objective, device policies, motivate employees and allocate resources.
• Strategy Evaluation, which is reviewing external and internal factors that are bases for current strategies, measuring performance, and taking corrective actions. 

3 Hierarchical Levels of Startegic Management:

1. Corporate Level.
2. Divisional / Strategic Business level.
3. Functional / Department Level.

After we learned about chapter 1, we also move on chapter 2. Basically, that topic touches about vision and mission of the company. From what I have learned in lecture, this topic only covered little things about vision and mission, but I have know more about chapter 2 in tutorial classes. This topic actually explained how the employees of the company arrange strategy from all sector of the company, not only from one side. Besides that, people who arrange big company must look into their mission and vision when they are planning something. They also have to see and think about Threat, Opportunity, Weaknesses, and Strengths (TOWS). Thus vision can changed from 3 to 5 years or when change their leader of the company. Planning also divided into 3, which are short-term, below 1 year, mid-term, 1 to 3 years, and long-term, above 3 to 5 years.

~Newspaper Activities~ :)

NUR FILZAH BINTI SULAIMAN

TMA 2

1110820

MGB4013, STRATEGIC MANAGEMENT

In first class, we do some of activities. The activities are doing with newspaper where we must to build a high building. We are divided into groups and we must to build the high building as fast as possible with any material that we have. From this activity, I have learned how to manage our group members, and we must make sure for each of group members do their job that the instruction given by the team leader. At the end of this activity, we know that if the building is strong or not. From this, we have learned about is not easy to manage a company, and we must think very deeply and make a best decision and also make a strategic planning through the company mission and vision.