Almazar, Jonald A.

July 26,2021

HRFM-431/20633681

CHAPTER 1: INDIVIDUAL EXERCISE 1

1. Who makes the strategic decisions for most organizations?

I would say the top-level management and strategists make strategic decisions,
whereas lower-level managers make operational decisions because strategic decisions
have a big impact on how well an organization achieves its objectives and goals. They are
in charge of deciding the organization's course and destination. Attitudes and
expectations of strategic decision-makers, as well as environmental factors and resources,
will all have an impact on organizational plans. Managing directors, general managers,
and other strategists, for example, can devise strategies. The attitudes and expectations of
these strategists have an impact on the nature and scale of the environment.

2. Why is it important to view strategic management as a process?

The strategic management process is important to aids businesses in assessing
their current situation, developing plans, putting them into action, and evaluating the
effectiveness of their management methods. A strategic management process assists an
organization's leadership in thinking about and planning for its future existence, which is
one of the primary responsibilities of the board of directors. Strategic management steers
an organization and its people in the right direction. In contrast to one-time strategic
planning, effective strategic management continuously plans, monitors, and tests an
organization's activities, resulting in increased operational efficiency, market share, and
profitability. Strategic management strategies are classified into four categories, each of
which can be implemented in a variety of ways depending on the circumstances. Strategic
management benefits both on-premise and mobile businesses.

3. What are the four steps of the strategic management process?

 There are four steps of the strategic management process to the procedure in
general such as assessing the organization's current strategic direction; identifying and
analyzing internal and external strengths and weaknesses; developing and executing
action plans; and evaluating how successful action plans have been and making changes
when desired results are not being produced.
The understanding of strategy and performance is the starting point or first
process for strategic management. Strategic management, as we've seen in this chapter, is
both an art and a science, involving different conceptualizations of strategy from both
current and ancient history. Scanning of the external and internal environment is the next
step in the process. Managers must constantly examine the external environment for
trends and events that have an impact on the wider economy, as well as changes in the
industry in which the company operates. The next step in the strategic management
process is strategy formulation. This necessitates the creation of specific tactics and
actions. Apple's success is undoubtedly attributable in part to the distinctive items it gives
the market, as well as the ways in which these products complement one another.

4. How is chess relevant to the study of strategic management? What other games might help

teach strategic thinking?

Chess's distinct strategic qualities are absolutely applicable to both military science and
economic dynamics, allowing its ideas to be implemented. Understanding the terrain (or
position) and adapting to both gradual and dramatic changes are critical in chess. It's also crucial
to know who your opponent is and what his features and tendencies are. Chess is unquestionably
fascinating because it demands profound thought, strategy, and the ability to foresee outcomes.
It's frequently compared to a marketing plan. Each player meticulously analyzes the board, waits
their turn calmly, anticipates the opponent's next move, and mentally plays through several
possibilities. In the corporate sector, this is similar to strategic planning. However, in some
industries, competitors strike from all sides at the same time, internal company issues can have a
negative impact, and a slew of other factors can all come into play at the same time. Nonetheless,
there are strong analogies between chess and business.

Scrabble is a word game in which two or four players score points by placing tiles with
single letters onto a 15X15 grid of squares. Scrabble improves cognitive capacity because it
requires quick thinking and reasoning. Because the brain is a tool in our body, the more you
utilize it, the stronger it becomes. Playing scrabble will transform the way you think and help
you learn more quickly in general. Some games help me to focus my mind and intellect, which
will help me understand things more easily and solve more logical problems in the long run.

But unlike scrabble, chess will make or break you because in chess your opponent is waiting for
your false move whereas in scrabble, there are lots of possibilities as long as you have a strong
vocabulary

References:

Mekhala Roy (n.d), strategic management. Retrieved from

https://searchcio.techtarget.com/definition/strategic-management

Luigi Morsa, Ph.D.(2020). Chess and Business Strategy. Retrieved from.

https://blog.iil.com/chess-and-business-strategy/

Daaim Shabazz (2002). Chess and the Art of Business Strategy. Retrieved from,
https://www.thechessdrum.net/blog/2002/07/01/chess-and-the-art-of-business-
strategy/#:~:text=The%20unique%20strategic%20characteristics%20of,both%20gradual%20and
%20abrupt%20changes.