Management

- management is the art of getting things done through people

- can only be done by people
- manage resouces, time
Time is very precious
- people can be productive
- be more multi task or skilled
Communication is the foundation of a successful organization/indiviual/management.
- how information is dissimenated
sender(brings out the information), message, receiver(may provide a feedback
before a final response)
6-21-2021
Strategy
-plan of action
-detailed strategy
-long term plan to achieve goals
cooperation and competition are mutually exclusive
- synergy is the key to success (could be) not only to oneslf but to a
corporation too
Strategy
- is a comprehensive action plan that identifies the long term direction for
an organization and guides resource utilzation to achieve sustainable competitive
advantage
- tries to guide resource allocation to achive a long term oraganizational
goals
Strategic intent
-tries to focus or applies organizational energies on a unifying and
compelling goals
*compelling goal is a goal that needs no be achieved
Strategic management
- process of formulating and implementing strategies
What makes a strategy important?
- it is the strategy will be formulated and implemented in the organization
- should be properly planned
Marketing system
(written on the papaer) Industry --goods and services--> Market --money-->
industry
- tells us that they do strategic management
- money from the market to continue the production
6-23-2021
Mission statement
- statement of why an orgization exists
Vision statement
-aspirations or where does the company would like to perceive itself
- what does the company would like to achieve
Strategic Management Process
Strategy formulation
- process of creating strategies
- activities involved
> identify and analyze the mission, vision, objectives, and strategies
- understand what was the strategy before
Tools for environmental scanning
- SWOT, PEST - important in the strategic management
Hoarding - the supplier put on hold the raw material
- artificial shortage of raw material that affect the economy
> analyzing the external and internal environment/factors
*maintain a good relationship with the suppliers
> revised the mission and objectives and select new strategies
a. corporate
 b. functional- marketing, finance, resource, research
c.
the success of the third stage is dependent on the stage 1
6-25-2021
Forecasting
- statement of the future
- adjust, no perfect forecasting
Strategy Process 3 majorSt
1. Strategy Formulation
2. strategic Implementation
- 3 major areas
> corporate governance - what we have done in the preparation
will make an honor in the company of there is a good governance
> management (system and practices) - must be attended to
> strategic leadership - let other people lead the organization.
everybody has an opportunity to lead
3. Strategy Evaluation
>
6-28-2021
Stakeholders
- individuals or groups who has interest in the accomplishment in the company
Macroenvironmental factors
- technology
- government
- social structure
- population deographics
- natural environment