* Week 1 *

ASSALAMUALAIKUM..

Hi! See you again! How are you today? Hope all of us are fine. Ok! Without wasting time, today I would like to share about what I’ve learned in week one. Our first topic for this subject is The Nature of Strategic Management. First of all, I want to know what you understand about strategic management. Ok! Think first! (???????????????)

Right now, tell yourself what strategic management is. Done! Ok, good job! (^_^) Now, let’s me tell you about the nature of strategic management. Strategic management refers to determine mission, vision, values, goals, objectives, roles and responsibilities, timeliness, and etc. Meanwhile, strategic plan is a company’s game plan. It is used to help an organization to do better job and to ensure member of the organization are working toward same goals.

I've already explained about the stages of strategic management just now. Now, I’ll explain you about the key terms in strategic management. The key terms as follows:

1)    Competitive advantages: You have a factor that others can’t imitate.

2)    Strategists: Person who are responsible to the success and failure of an          organization.

    3)    Vision & mission statement: What do we want to become? What is our business? How?

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     4) External opportunities and external threats: Refers to demographic, culture, social, technological, and etc.

5)    Internal strengths and internal weaknesses: Determined relatives to competitors.

6)    Objectives: Specific results that an organization seeks to achieve basic mission.

    7)    Strategies: May include geographic expansion, diversification, product development, and etc.

   Alright, I think that’s all for today. I will share something new that I’ve learned after this. See you in next entry! Thank you.