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Edmund John Balboa Bsa: Let's Check

The document discusses strategic management terms and has the reader identify terms in sample statements and analyze the strategists and competitive advantages of the University of Mindanao. It emphasizes that strategic management allows firms to be proactive rather than reactive and control their own destiny by utilizing tools like SWOT analysis, setting objectives and strategies, and evaluating performance.

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Ej Macadatu
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105 views3 pages

Edmund John Balboa Bsa: Let's Check

The document discusses strategic management terms and has the reader identify terms in sample statements and analyze the strategists and competitive advantages of the University of Mindanao. It emphasizes that strategic management allows firms to be proactive rather than reactive and control their own destiny by utilizing tools like SWOT analysis, setting objectives and strategies, and evaluating performance.

Uploaded by

Ej Macadatu
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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EDMUND JOHN BALBOA BSA

Let’s Check
Now that you know the most essential terms, let us try to check your understanding of
these terms. In the space provided, write the term/s being asked in the following
statements:
1. refers to the person most responsible for the achievement of goals of an organization.
Ans: Strategist
2. It refers to involves three (3) phases and is synonymously used with the term strategic
planning. Ans: Strategic Management
3. It refers to short-term goals as the means of achieving the long-term objective.
Ans: Annual objectives
4. It refers to the external factors that could have a significant positive effect to an
organization in the future. Ans: External opportunities and external threats
5. It refers to the controllable internal activities that are performed poorly. Ans: Internal
strengths and internal weaknesses

Let’s Analyze
Having acquainted with the terms related to strategic management, you should be able to
identify these terms in an actual business setting. Now, I will require you to accomplish the
following task:
1. Based on the definition of strategists, identify at least three (3) strategists of the
University of Mindanao.

Ans: President (Dr. Guillermo P. Torres, Jr.)


Vice President
Board of Directors

2. Identify and explain at least one (1) competitive advantage of the University of
Mindanao.
Ans: Center of Excellence (COE) refers to a department within a higher education
institution, which continuously demonstrates. excellent performance in the areas of
instruction, research and publication, extension and linkages and institutional
qualifications. Lot of students search and select an institution that can help to fulfill their
dreams. University of Mindanao offers students preferred course and has already
proven itself in terms of quality. The campus is great. They also have excellent
professors that have higher degrees in education.
In a Nutshell

To be an effective manager, the study of strategic management is essential to understand


how firms operates and responds to an ever-dynamic business environment. Strategic
management allows a firm to be more proactive, rather than reactive in exerting control
over its own destiny.
Based from the definition of the terms related to strategic management, please feel free to
write your arguments or lessons learned below. I have indicated my arguments or lessons
learned.
Strategic management is a science, as it involves a systematic, logical, and rational method
to strategic choice.
Strategic choices require trade off, such as profit maximization versus resource utilization.

Your Turn

3. Strategic management process it is a philosophical approach to business, clarify the


vision, gather and analyze information, formulate strategy, implement strategy,
evaluate and control actions.
4. Strategic analysis is a process of conducting a research on a company and its
operating environment to formulate a strategy, SWOT analysis, PESTLE analysis,
scenario planning, Porter’s Five Forces framework.
5. Competitors the biggest challenge, operate in the same industry, make similar
products and target customers.
6. Stakeholders partly that has an interest in a company can either affect or be affected
by the business, the primary stakeholders in a typical corporation are its investors,
employees, customers and suppliers.
7. Strategic evaluation and control determining effectiveness, achieving the
organizational objectives and taking corrective actions wherever required.
8. Strategic planning is the art of creating specific business strategies, implementing
them, and evaluating the results of executing plan, in regard to a company’s overall
long-term goals or desire.
9. Objective should be smart, they need to be specific, measurable, actionable,
relevant, and time-bound.
10. Strategy formulation an analytical process of selection of the best suitable course of
action to meet the organizational objectives and vision, involves six main steps which
are setting organization's objective, evaluating the organizational environment,
setting quantitative targets, aiming in context with the divisional plans, performance
analysis, choice of strategy.

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