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