here is where we start

17/9/2013..today is my second day of lecture for Strategic Management. Today is the starting point where we learn this subject for real. As it is the first day we learn this subject, we started from the root which is the nature of Strategic Management. I will not touch about everything we had learnt today to prevent an essay-like diary..hehe..and also because I cannot remember all of them actually, ahh, this short-term memory loss of mine..Well, today we learned about what Strategic Management is. It has kind of long definition, which I suppose to remember..but I like the synonym more ; strategic planning. It is somewhat easy to digest, I mean, understand and simpler than the word ‘management’.

 Then, we also learnt about the stages which include formulation, implementation, and evaluation. For formulation, Miss Ummi had emphasized a lot about vision and mission because here is where we will set the objectives of our company. Also, there is SWOT analysis where we use it to achieve the objectives. Meanwhile for implementation, we execute the formulated strategies..here, we will take our plan into action. Then, there is evaluation stage where we will take corrective action after we evaluate our performance. Miss Ummi also explained about three hierarchical levels which are corporate, divisional and functional. From the overall lecture, I am so interested about the term ‘competitive advantage’ which means anything that a firm does especially well compared to rival firms. I want to be an entrepreneur, so it is so important to distinguish my company from the competitors in the future..hm.. I must think about my company’s specialty from now. I want to success. :D