NAMA : DARMMINI MARIMUTHU

ID : 2122020020037
PROGRAM : DIM
TUTORIAL QUESTIONS (CHAPTER 1)

1. DIFINE STRATEGIC MANAGEMENT ?

Strategic management is the management of an organization’s resources to achieve its goals

and objectives. Strategic management involves setting objectives, analysing the competitive
environment, analysing the internal organization, evaluating strategies, and ensuring that
management rolls out the strategies across the organization.
2. EXPLAIN THE CONCEPT OF STRTEGIC PLANING ?
Strategic planning’ may be defined as the process of determining the objectives of the
organisation and the resources to be used to attain these objectives, as also the policies to
govern the acquisition, utilisation and disposition of these resources. Examples of strategic
planning in an organisation are—diversification of business into new lines, planned growth
rate in sales, type of products to be offered, etc. Strategic planning encompasses all the
functional areas of business and is affected within the existing and long- term framework of
economic, technological, social and political factors.
3. DISCUSS THREE (3) MAIN STRATEGIES INVOLVED IN THE STRATEGIC
MANAGEMENT PROCOESS ?
i. Strategy Formulation:
Strategy formulation is the process of deciding best course of action for achieving
organizational objectives. After conducting environment scanning process, managers
formulate corporate, business and functional strategies.
ii. Strategy Implementation:
Strategy implementation implies putting the organization’s chosen strategy into action
and making it work as intended. Strategy implementation includes designing the
organization’s structure, distributing resources, developing decision making process, and
effectively managing human resources.
iii. Strategy Evaluation:
Strategy evaluation which is the final step of strategy management process involves-
appraising internal and external factors, measuring performance, and taking
remedial/corrective actions. Evaluation assure the management that the organizational
strategy as well as its implementation meets the organizational objectives. These steps are
carried by the businesses, in chronological order, when creating a new strategic
management plan. Present businesses that have already created a strategic management
plan will revert to these steps as per the situation’s requirement, so as to make essential
changes.

4. WHY IS IT IMPORTANT FOR ORGANIZATIONS TO CONSTRUCT A MISSION

AND VISION STATEMENT?
 Both the vision and mission statements play an important role in the organization. Below is a
look at these roles:

 The vision and mission statements define the purpose of the organization and in still a sense
of belonging and identity to the employees. This motivates them to work harder in order to
achieve success.
 The mission statement acts as a “North Star”, where it provides the direction that is to be
followed by the organization while the vision statement provides the goal (or the destination)
to be reached by following this direction.
 The vision and mission statements help to properly align the resources of an organization
towards achieving a successful future.
 The mission statement provides the organization with a clear and effective guide for
making decisions, while the vision statement ensures that all the decision made are properly
aligned with what the organization hopes to achieve.
 The vision and mission statements provide a focal point that helps to align everyone with the
organization, thus ensuring that everyone is working towards a single purpose. This helps
to increase efficiency and productivity in the organization.

The vision and mission statements are important tools of strategic planning, and thus they
help to shape the strategy that will be used by an organization to achieve the desired future.

5. FIND ANY TWO (2) COMPANIES IN MALAYSIA AND ELABORATE THEIR

STRATEGIC PLANNING PRACTICES.

 Starbucks Company in Malaysia takes pride in their varieties of coffee product. Their
main strategy is in the distribution of its coffee products. As a result, customers keep
on coming back for more, because of the uniqueness of their coffee products.
Meanwhile, GSC Cinema is great at advertising their movies and products in social
media.
 Nestle They aim to offer a portfolio of products that evolve with consumer needs,
offer good nutrition and delight the senses, contributing to healthier, balanced lives
and a healthier planet. This guides the choices we make today and shapes our
portfolio for tomorrow whether through product evolution, innovation, acquisition or
partnerships.