Thursday, February 7, 2008

Business Strategy

In a race, a business man should be aggressive and must be aware of the risk in his business and eventually must know how to deal with those encumbrances. He must know what strategy and plan he should do in order to surpass that problem. Taking up strategic management and putting it by heart would somehow help them solve and decipher their problems with regards to their business entity. The composition of being a successful strategic planner would require a lot of consideration as to how you discipline yourself and by embarking it in a right way.

The discussion of our teacher regarding strategic management have somehow helped me understand and grasped the different aspects of it. He delved about the 4 resources to venture on business which encompass manpower, money, materials, and machines and concluded that the most important part among all is the manpower. We also thrashed out the real score about Business policy Case as to how to identify the problem, set objectives and so on. Business Policy Case referred to a condition which entails a SWOT analysis. You must be able to defend the problem why it emanates and this has something to do with deviation from the goals of the company and care for it.

Apparently, he discussed about the gist of strategic management which has something to do with the science and art, science since it requires systematic process and art because by giving strategies, you must concoct in an innovative manner. The factors of the strategic management encompass Formulation, which necessitates you to develop a mission, Implementation and Evaluation as well.

The manner of presentation of the problem has also been tackled since by way of presenting it in a harmonious way, the audience could somehow grasped what you are trying to inculcate in your case and you could definitely be able to defend it so, in that way, the teacher can be able to ascertain your skills if you have really read the problem or not and understand the case.

1 comment :

Jacob said...

Interesting blog. I thought comparing business to a "race" was very appropriate.

You might be interested to read David Abshire's recent book, A CALL TO GREATNESS: CHALLENGING OUR NEXT PRESIDENT (2008). It's a book about politics but Abshire's work on political strategy can be applied within the context of business strategy, like what you've written about. I recently wrote a blog comparing the two and would be interested in your feedback as you are evidently interested in strategic development.

Keep up the good work!
Everyday Entrepreneurship
http://everydayentrepreneurship.co