MGB4033

Assalamualaikum...

In the name of Allah, I begin..

What is the meaning of Strategic Management,actually strategic management is about art or science that involve formulating,implementing, and evaluating the cross functional decision in order to achieve the objective of the organization.

there are three stages in Strategic Management:

• STRATEGY FORMULATION

develop mission and vision of the organization, define SWOT, and establish the long term planning as well as the strategies to use in the organization.

• STRATEGY IMPLEMENTATION

it about the organization implement the annual objectives, policies,and allocate the resourses.

• STRATEGIC EVALUATION

it is about review the resources, measure the performance and take action in order to improve the firm's performance.

During the lecture, Dr Ummi stressed on the use of intuition in decision making for firm such as JALEN. Furthermore, there are several key terms in organization such as annual objectives, policies, weaknesses and strength. All the key terms are essential in the organization

The benefits of strategy management are good connection between the employees and the top management in the company lead for a successful organization. In fact, the company can gain high profit,improve productivity by developing a good strategic plan. On the other hand, the company that do not establish the strategic planning because they think it will  take a long time to see the effect of the planning. Plus, in order to establish the strategies plan, it will be use a large amount of money, some company may unable to afford it. There are some organization that lack of experts in strategy planning.

Tomorrow is the blank page of the 365 page book, write a good one

Good night,jazakallah.