Reading and writing skills

Name: Yusoph, Yesha Danes R. LRN: 131326160694

Teacher: Ma’am Mariz Salandanan Grade and Section: XI – STEM C

Quarter III – Module 2

Evaluation
I | Make a news article using the W’s Organizer.

II | Make a sample of a topic outline using the essay outline organizer.

III | Write a sentence outline. Be sure to use COMPLETE SENTENCES.

I. COVID-19 Marketing: Predicaments in Business Start-Up Strategy During Global Crisis

A. PURPOSE- To observe the strategies and actions businessmen of Kidapawan City
have implemented for their start-up businesses in order to adapt to a wide variety of marketing
assets.
B. HISTORY OF THE PROBLEM- The coronavirus disease (COVID-19) has thrown the
world's, regional, and national economies into disarray. To protect people's health and curb the
spread of the virus, people's lives and economic activities have been severely restricted. Despite the
local lockdown restrictions in March 2021, more businesses opened in May 2021 than in November
2020, yet many of them were still operating at capacity. The percentage of firms that were fully or
partially operational grew between November 2020 and May 2021. However, in May 2021, the
Philippines' operational company share is expected to be over 70%.
C. REVIEW OF RECENT LITERATURE- This part of the sentence outline presents the

review of recent literature in accordance with business, entrepreneurship and strategic

management:

A. Business

1. History of Business

According to Immerse Education (2021) Companies — with structures like sole proprietorships,

partnerships, and corporations – have been around for 3,000 years in India and China. They began

engaging into contracts and purchasing land at this time, basically laying the groundwork for the

modern commercial framework. The first few government-backed firms, such as the Dutch East

India Company and the British East India Company, start taking on global economic difficulties and

exchanging commodities far away from home as early as 1500 AD. Business altered every 50 years or

so after the Industrial Revolution in 1790, affected by new inventions, commerce, and changing

consumer preferences.

2. Nature of Business
 Stephenson (2008) defines business as “The regular production or purchase and sale of goods

undertaken with an objective. of earning profit and acquiring wealth through the satisfaction of

human wants.”. A business is a profession in which commodities and services are created and sold

for a profit. It is done on a regular basis with the primary goal of producing money. Business

activities include mining, manufacturing, trading, shipping, storing, banking, and insurance. For the

purposes of this work, we used Timms (2011)'s generic definition. A commercial operation or

establishment that deals in products or services, he defined business as. However, the difficulty of

employing a broad definition reappears. The goal of 'trade,' for example, does not have to be profit.

As a result, it is possible to argue that non-profit organizations, at least one type of business, can

also be considered businesses. This would include public sector organizations, as there is a growing

demand for them to perform and be controlled in the same way as profit-making enterprises are
(Mullins, 2010). Business may also be defined as any economic activity that is centered on the

continuous and regular production and distribution of products and services in order to meet the

demands of society's citizens (Aremu, 2012). As a result, business must involve constant production

and distribution of goods and services with the goal of creating a profit. The activity of an individual

or a group of individuals in creating and distributing goods and services to clients is known as

business (Brown & Clon 1997). According to Stephenson (2008), business is "the regular production

or purchase and sale of goods undertaken with the objective of earning profit and acquiring wealth

through the satisfaction of human wants." Dicksee (1980) defines business as "a form of activity

conducted with the objective of earning profits for the benefit of those on whose behalf the activity

is conducted." Lewis (2011) defines business as "human activity directed toward producing or

acquiring wealth through the satisfaction of human wants." He defined it as an economic system in

which products and services are traded for one another or for money based on their perceived

value. As a result, every firm requires some type of capital as well as a sufficient number of clients to

whom its products may be supplied profitably on a regular basis. Furthermore, a business

organization can be defined as a commercial and social body that offers the required structures to

realize the fundamental goal of commodities or service exchanges. It is important to recognize that

business businesses are institutions or organizations whose primary goal is to make money.

According to Aremu (2012), the ability of management to plan determines the success of every firm,

regardless of its size. He went on to say that one of the most important corporate operating issues is
a lack of good and formal planning. The number of firms that collapse each year emphasizes the

severity of the problem. When addressing the nature of business, it's also crucial to discuss the

many types of business. As a result, this section of the book focuses on the most common kinds of

business organization, particularly in the Nigerian business environment, as well as the functions of

business, the purpose of business, the scope of business, business beneficiaries, and business

stakeholders.

3. Scope of Business

Business has a very broad scope. It encompasses a wide range of activities that can be examined

from two perspectives: industry and commerce (Sutherland & Canwell 2004).

(A) Industry: Industry refers to the acts of extracting, producing, converting, processing, or

fabricating products. An industry's products can be classified into one of the three categories below:

(i) Consumers' Goods: Consumers' goods are goods that are used by final consumers. Laptop,

handset, bags, pencil, biro, cleaner, culinary oils, cloth, jam, television, radio, automobile,

refrigerator, and so on are examples of consumer products.

(ii) Capital Goods: Capital products are goods that are utilized in the creation of other goods.

Steel generated by steel plants is used to fabricate a number of products such as automobiles,

scooters, rail locomotive engines, ships, surgical instruments, blades, and other products, as well as

machine tools and machinery required to manufacture other products.

(iii) Intermediate Goods: There are some materials that start out as finished products in one

industry and end up as intermediate products in another. The copper business, for example,

produces completed items that are utilized in the manufacturing of Electrical Appliances, Electricity

Wires, Toys, Baskets, Containers, and Buckets. Industrial activities can be divided into two

categories: primary and secondary, as indicated in the following lines.

Primary Industries: Primary industries include the followings as listed below:

☞ Extractive Industries

☞ Genetic Industries
Extractive Industries: Extractive industries are those that extract or draw their products from

natural sources such as the earth, sea, and air. Other sectors, such as manufacturing and

construction, commonly utilise the products of such industries to produce finished goods. Farming,

mining, lumbering, hunting, fishing, and other extractive industries are examples.

Genetic Industries: The term "genetic" simply refers to a person's parentage or heredity. Plants and

animals are bred in genetic industries for the purpose of additional reproduction. Seeds and

nurseries are two common examples of genetic industry in plant breeding. Additionally, the

activities of cattle-breeding farms, poultry farms, and hatcheries are classified as genetic industries.

Secondary Industries: Primary industries include the followings as listed below:

☞ Manufacturing Industries

☞ Construction Industries

Manufacturing Industries: These industries are involved in the conversion or transformation of raw

materials or semi-finished items into finished products in order to produce goods through the

creation of what is known as 'form utility.' Extractive industries' products are frequently used as

raw materials in manufacturing sectors. The manufacturing industry produces factory production.

Analytical, synthetic, processing, and assembly line manufacturing industries are all examples of

manufacturing businesses.

(i) Analytical: This is a condition in which the raw material is evaluated and divided into a variety
of products. An example of analytical industry is oil refining. Crude oil is extracted from the soil and

processed into gasoline, diesel, kerosene, gasoline, lubricating oil, and other products.

(ii) Synthetic: In this form of industry, at least two materials are mixed together in the

production process to create new goods. This business produces soap, cement, paints, fertilizers,

and cosmetics, among other things. A new product will be created by mixing two or more existing

items together.

(iii) Processing: Raw materials are treated through a series of industrial activities using

analytical and synthetic approaches in this business. Textiles, sugar, and steel are examples of

industries in this category.iv) Assembly line: In the assembly line industry, the finished product can
only be produced after various components have been manufactured and then brought together for

final assembly to be converted into final or finished products. Automobiles, clocks, televisions,

bicycles, railway carriages, and other products are common examples of the industry.

Construction Industries: These industries are concerned with the construction of structures such as

buildings, bridges, dams, roads, canals, and so on. They use products from manufacturing

industries such as iron and steel, cement, lime, mortar, and so on, as well as products from

extractive industries such as stone, marble, granite, and so on. One distinguishing feature of these

industries is that their products are not sold in the sense of being finished. They are built and

fabricated at specific locations.

(B) Commerce: Trade; business is the exchange of goods or commodities, especially on a large scale

across countries (international commerce) or between various areas of the same country (domestic

commerce). It can also relate to the purchasing and selling procedure. It includes wholesale, retail,

import, and export trade, as well as other activities that help or support such buying and selling,

such as storing, grading, packaging, financing, transporting, insuring, communicating, and

warehousing. The main functions of commerce are to remove obstacles such as I persons through

trade; (ii) place through transportation, insurance, and packaging; (iii) time through warehousing

and storage; and (iv) knowledge through salesmanship, advertising, and other means, arising in the

distribution of goods and services until they reach the final consumers. The concept of commerce

usually covers two important areas:

(i) Trade

(ii) Service Business or Aids to Trade

(i) Trade: The act or practice of buying, selling, or exchanging commodities, whether wholesale or

retail, within a country or between countries, is referred to as trade. It also refers to the process of

moving products and services. It is the central activity that is surrounded by secondary operations
such as banking, shipping, insurance, packaging, warehousing, and advertising. There are two types

of trade: retail and wholesale.

(a) Domestic Trade: Internal trading is another term for this. It is internal since it solely deals with
buying and selling things within a country's borders, with payments made in national or local
currency, either directly or through the banking system. Wholesale trade - buying goods in large
quantities from producers and selling them in small quantities to retailers - and retail trade -
activities involved in selling commodities directly to consumers, i.e. an industry that sells primarily
to individuals rather than corporations - are two subsets of domestic trade.

(b) Foreign Trade: Internal trading is another term for this. It is internal since it solely deals with
buying and selling things within a country's borders, with payments made in national or local
currency, either directly or through the banking system. Wholesale trade - buying goods in large
quantities from producers and selling them in small quantities to retailers - and retail trade -
activities involved in selling commodities directly to consumers, i.e. an industry that sells primarily
to individuals rather than corporations - are two subsets of domestic trade.

(ii) Service Businesses: These are commonly referred to as trade aids. As previously stated, certain
functions such as banking, transportation, insurance, warehousing, advertising, and communication
are among the most important auxiliary functions that aid both domestic and international trade.
The next sections go over these auxiliary functions.

(a) Banking: A financial institution with a deposit-receiving license. Commercial/retail banks and
investment banks are the two categories of banks (Olujide & Aremu, 2009). Banks are governed
by the national government or central bank in most nations. Banks provide a mechanism for
making payments for items purchased and sold, making the buying and sale of goods on credit
easier. Commercial banks are primarily concerned with managing withdrawals and deposits,
as well as providing people and small enterprises with short-term loans.
(b) Transportation: Any equipment that is used to transport commercial items from one area to
another is referred to as a transport device. Planes, trains, automobiles, and other two-wheel
vehicles such as bicycles or motorcycles are all common modes of transportation. It entailed
transporting products from producers to wholesalers, retailers, and, eventually, customers. It
keeps the wheels of commerce turning. It has connected all corners of the globe, facilitating
worldwide trade.
(c) Warehousing: A warehouse is a designated location for the storage and management of
products and materials. There is usually a time lag between the manufacturing of products and
their consumption. The solution to this dilemma is to store the products in a warehouse.
Storage provides time utility and eliminates the time barrier in commerce. It serves the
practical purpose of storing products while they are being moved from one site to another. As
a result, warehousing aids in the function of storing products for both manufacturers and
traders until they decide to shift the goods from one location to another.
(d) Insurance: In any economy, the insurance industry plays a critical role in smoothing the
economic environment and restoring investor confidence. Because the insurance industry
delivers intangible products in the same manner that banks, hotels, and other service
businesses do, it is classified as a service industry (Aremu, 2010). Insurance protects against
the loss of commodities while they are in transit or being stored. An insurance firm provides a
valuable service by compensating for losses resulting from damage to products caused by fire,
 pilferage, thievery, and the perils of sea, shipping, and thereby relieves traders from the dread
of losing their commodities. It levies an insurance premium for the risk it insures.
(e) Advertising: Any paid type of non-personal presentation and promotion of ideas, goods, or
services by a recognized sponsor is referred to as advertising (Kotler, 2011). When advertising is
done correctly, it may better meet the needs of its clients, consumers, and stakeholders
(Aremu & Saka 2006). First, it facilitates successful implementation, which leads to profitable
marketing of the promoted product, assuming all other factors are equal. It also serves the
socioeconomic demands of consumers, whose standard of life is improved, who are monetarily
empowered, and who are given more options. Advertising serves as a means of bridging the
information gap between dealers and customers regarding the availability and usage of goods.
(f) Communication: This is another another business-related service. It is beneficial since current
information is necessary. This information is accessible via computers, satellite links, and fax
machines.

In addition to the foregoing discussion of the scope of business, there are various more points of
view among researchers on the subject. However, according to Khanchi, the following are the most
significant regions that are generally acceptable (2014):

a) Demand Analysis and Forecasting

b) Cost and Production Analysis
c) Pricing Decisions, Policies and Practices
d) Profit Maximization
e) Capital Management
f) E-commerce

These business scopes are the most important issues that must be addressed because they are the
core areas of business.

a) Demand Analysis and Forecasting: Demand analysis and forecasting provided the necessary
foundation for business planning and occupies a strategic position in business organization.
An organization that converts productive resources into completed commodities is known as
a business firm. These final goods will be available for purchase on the market. What will be
produced for the market, however, will be determined by market demand. This is because
reliable demand estimations are required for commercial decisions.

b) Cost and Production Analysis: The ability to evaluate costs and the essence of expenses in
company are required stages for more efficient profit planning, cost control, and appropriate
pricing methods. The cost of production will have an impact on all company decisions. A cost
analysis combined with data from company records can produce significant cost estimates
that can be used to make business choices. The breadth of production analysis is smaller
than that of cost analysis. Cost analysis is typically conducted in monetary terms, whereas
production analysis is frequently conducted in physical terms.
 c) Pricing Decisions, Policies and Practices: Pricing is a crucial and pivotal aspect of every
organization. In fact, price is the source of a company's revenue, and its success is largely
determined by how well pricing decisions are made. Businesses that produce goods and
services must set their product's pricing. One of the most essential decisions a business
manager must make is the price of a company's goods. It's one of the most important and
challenging decisions a company's executive must make. Pricing is a method of profit
forecasting. When it comes to pricing, business owners must understand pricing methods,
differential pricing, and price forecasting, among other things.

d) Profit Maximization: Profit maximization is a different aspect of each business. The surplus
left after total costs are deducted from total income is a company's profit, and it is the basis
on which taxes are calculated and dividends are paid. Profit is the criterion by which a
company's success is measured. Profit is expressed as a decrease in liabilities, a rise in
assets, and/or an increase in shareholders' equity. Profit maximization refers to the sales
level at which the most money is made. Some individuals believe that higher sales levels
equal more profits; however, this is not always the case. Although, in general, the goal of
commercial organizations is to make money in the short and long term.

e) Capital Management: Capital management is concerned with capital planning and control.
Business organizations aim to maintain appropriate and equal amounts of working capital,
current assets, and current liabilities in this context. This is mostly related to short-term
corporate financial decisions and helps a corporation meet its expense obligations while also
retaining appropriate cash flow. It's a managerial accounting method that focuses on keeping
both components of working capital, current assets and current liabilities, at optimal levels
in relation to one another. Capital management guarantees that a company's cash flow is
sufficient to cover short-term debt payments and operating expenses.

f) E-commerce: Electronic commerce, often known as E-commerce or e-commerce, is the

exchange of goods and services over computer networks like the Internet. E-commerce (also
known as electronic commerce or EC) is the purchasing and selling of products and services,
as well as the transmission of payments and data, over an electronic network, most
commonly the Internet. Depending on a company's sales approach to its clients, an
eCommerce system can integrate many types of sales scenarios. Commercial-to-Consumer
(B2C), Business-to-Business (B2B), Consumer-to-Business (C2B), and Consumer-to-
Consumer (C2C) are the four types of business interactions (C2C)

4. Importance of Business
 One of the most significant human activities is business. It has played a significant part in the
nation's economic development and the improvement of people's living standards. Because of the
development of business, all developed European countries, such as the United States and Japan, are
now developed. The following are some of the most important business functions:

(i) Economic Development of a Country: The role of business in the country's economic
development is critical. It is heavily influenced by the growth of industry and trade.

Industries make use of the country's varied natural and other resources. Similarly, the

expansion of commercial activity adds to the national and international trade of products

and services. It satisfies the requirements of the people of the country while also

contributing to the country's foreign currency earnings by exporting goods to other

countries.

(ii) Utilization of Natural Resources: Nature's free gift is natural resources. Business has played

an essential role in the usage of natural resources. Some countries have abundant natural

resources, some have abundant mineral resources, while yet others have abundant

human resources, science, and technology. The company operates in such a way that the

entire human race benefits.

(iii) Improvement of Quality of Life: The term "quality of life" refers to one's level of happiness,

comfort, and health. In two ways, business improves the quality of life. To begin with, it

offers people with high-quality goods and services that are necessary for their enjoyment,

comfort, and health. Second, a firm provides people with work possibilities, allowing

them to earn money and enhance their quality of life.

(iv) Fulfillment of Humanity Needs & Wants: Human wants and desires are limitless and

unending, and they are constantly changing. The company offers individuals high-quality

goods and services at cheap prices in order to fulfill their demands and wishes. Human

desires may be unmet in the absence of business operations.

(v) Employment Generation: The business sector is a source of employment. In any country, it

generates job chances for a significant number of individuals. Both management and

technical professions in business necessitate a variety of employees. The growth of

industry and commerce is assisting in the nation's job creation efforts.

 (vi) Earning of Foreign Currency: Business is a significant source of foreign currency earnings.

Exporting items to other countries can help you earn foreign cash. Industry and

commerce growth are beneficial to the production of goods and services. The expansion

of export commerce results in a good payment balance and surplus. Foreign currency

might be utilized to purchase machinery and equipment for research and development.

(vii) Increase in Government Revenue: Because business is a significant source of government

revenue, it contributes to government revenue in the form of taxes such as excise duty,

sales tax, income tax, property tax, entertainment tax, and so on. It also contributes to the

development of our country.

(viii) Self-Sufficiency: The advancement of industry and commerce is assisting in the fulfillment

of societal needs. Self-reliance, self-dependence, and self-respect are all enhanced by the
growth of business in the country. In international terms, a self-sufficient country has a

special respect and standing.

(ix) Fostering International Relation: For the growth of international relations, business is the

most essential channel. A country's economic progress attracts foreign capital, labor,

technology, and other commodities and services. It is also beneficial for inhabitants of

friendly nations to exchange culture and traditions.

B. Entrepreneurship

1. History of Entrepreneurship

Johnson Hur (2019) stated that nearly 20,000 years ago, the first entrepreneurs appeared on the

scene. Around 17,000 BCE, the first recorded human trade took place in New Guinea, when locals

traded obsidian (a volcanic glass coveted for use in hunting tools) for other necessities like as tools,

skins, and food. For millennia, this early kind of entrepreneurship flourished. Hunter-gatherer

tribes would trade commodities from various sections of their geographical regions to benefit their

group as a whole.

2. Nature of Entrepreneurship
 Entrepreneurship is defined as the process of identifying a profitable investment and production

opportunity, then forming and managing a company enterprise. It entails securing supplies, labor,

land, and capital, as well as introducing new techniques and products and identifying new sources

of revenue for businesses. Entrepreneurship comes with a lot of risk, but it also has a lot of potential

rewards for someone who starts a business. Entrepreneurship fosters creativity, innovation, and job

creation, as well as contributing to the country's overall economic development. Small business

entrepreneurship, large company entrepreneurship, scalable startup entrepreneurship, and social

entrepreneurship are all types of entrepreneurship.

(i) Creation Of Enterprise

Entrepreneurship is a process that refers to the creation and running of a new enterprise. It is an

activity under which a person called an entrepreneur starts a new venture using a new idea.

(ii) Economic Activity

Entrepreneurship is an economic activity as it involves creating and running a new business

through optimum utilization of all combined resources. It ensures that all scarce resources are

efficiently used for deriving better returns in the form of profit.

(iii) Innovation And Creativity

It is the process of discovering new ideas and concepts and implementing them in business

ventures. Entrepreneurship involves bringing innovation in the market by introducing new

products or process that delivers better service.

(iv) Risk Bearing

It is an activity which involves huge risk which every entrepreneur needs to undertake for starting a

venture. New ideas developed and implemented by the entrepreneur are uncertain and may result

in losses.

3. Scope of Entrepreneurship

Small-scale businesses occupy a key position in the industrial sector. In 1998, they were

responsible for 40% of all industrial production. The basic goals of small-scale development are to
increase the supply of manufactured goods, promote capital report, build domestic entrepreneurial

capacities and skills, and provide more job possibilities.

This area provides a larger opportunity for a potential entrepreneur to grow his or her own
company. In the small-scale firm or industry, there is a tremendous opportunity and enormous

potential to deploy technology-based products.

(i) Agricultural and Associated Industrial Sector: In the agriculture industry, there is a lot of

room for entrepreneurial activity. The rural entrepreneur can profit from opportunities

in agriculture, processing, and marketing by establishing a link between agriculture and

related sectors. The government has prioritized the IRDP program and ensured that small

and marginal farmers have access to credit through re-financing facilities and the
establishment of national banks for agriculture and small development.

(ii) Service Sector: Because of its rapid growth, the service industry has attracted the

attention of entrepreneurs. The service sector encompasses a wide range of businesses

and provides chances for entrepreneurs in industries such as hotels, transportation,

tourist services, personal care, home services, food services, photography, repairing, and

electrical assistance, among others.

(iii) The Rural Economy: In today's rural economy, an entrepreneur has a fantastic

opportunity to start a firm. They may be able to capitalize on business prospects in

certain stores or services. Small businesses have a lot of chances for manufacturing and

non-manufacturing operations, thus entrepreneurship thrives there.

4. Importance of Entrepreneurship

Entrepreneurship is the process of effectively creating wealth and innovating things of value to

improve an entrepreneur's well-being.

Here are the importance of entrepreneurship:

(a) Innovation: Entrepreneurship is the study of new ideas. It extends beyond discovery to

include the marketing of new ideas. As a result, entrepreneurship is concerned with

innovation, which gives new enterprises, commodities, technology, market, condition &

quality of goods, and so on to the economy, hence raising Gross Domestic Product (GDP) and

community standards of life.

(b) Job Opportunities: By establishing new industries, the entrepreneur creates jobs for people,

raises per capita income and capital investment costs, employs innovations in many

disciplines, ensures efficient coordination between sources, and administers economic

affairs. As a result, entrepreneurship helps to create job opportunities.

(c) Standards of Living: When entrepreneurs notice a problem that affects people's lives, they

employ their creative thinking to come up with a solution. They establish a new industry and
create jobs. When new employees are employed and compensated, the money stays in the

community. This results in more wealth for the people and a higher level of living for those

involved. When a company introduces a better product or service, competitors or

competitors must either improve or leave the industry. As competition grows, everyone

strives to enhance their performance and become the best at what they do. They don't have

any other option than to work more and enjoy a higher standard of living.

(d) Introduces Change: Some businesses require highly competent employees. This creates a

demand for skill-training schools, colleges, workshops, and training institutes. The

community responds to the demand by establishing training institutes, and everyone

benefits. The corporation hires the people it needs, and the community benefits from highly

skilled and trained workers. Entrepreneurs plan to organize food drives, build houses, assist

with cleanups, and donate to organizations. Some may also contribute to the improvement of

society's infrastructure. This surely contributes to the community's improvement and

progress.

(e) Development of Economic Growth: Entrepreneurship is a phenomenon that manifests itself in

the form of new firms that generate cash for civilisation. As entrepreneurs invest cash to

create new products and services, new industries contribute to economic wealth. More

money are invested by venture capitalists and angel investors, increasing the number of

funds involved in the organization's growth and progress. Businesses produce money and pay
 taxes, and employees who work for them pay income tax. This money is used by the

government to boost the economy and improve infrastructure.

C. Strategic Management

1. Nature of Strategic Management

Strategic management is both an art and a science that involves conceiving, implementing, and

analyzing cross-functional decisions that help a company achieve its goals. Strategic management's

goal is to take advantage of and generate new and different prospects for the future. Strategic

Management differs from other aspects of management in that it necessitates a knowledge of the

"big picture" and a reasonable appraisal of future choices. It provides a clear business strategy and

vision for the future, a method for accountability, and a structure for governance at various levels, a

logical framework to handle risk in order to ensure business continuity, and the ability to exploit

opportunities and react to external change by making ongoing strategic decisions.

Strategic management process encompasses of three phases.

(i) Establishing the hierarchy of strategic intent

(ii) Strategic formulation.

(iii) Implementation

(iv) Evaluation and control.

2. History of Strategic Management

The strategic management discipline originated in the 1950s and 1960s. Peter Drucker, Philip

Selznick, Alfred Chandler, Igor Ansoff, and Bruce Henderson were among the most influential of the

early contributors. The discipline draws on thousands of years of prior thinking and texts on

'strategy.' Prior to 1960, the term "strategy" was mostly associated with war and politics, rather than

business. During the 1960s, many companies established strategic planning functions to develop and

execute the formulation and implementation processes. With a career spanning five decades, Peter

Drucker was a prolific management theorist and author of dozens of management books. In his 1954
book The Practice of Management, he wrote: "... the first responsibility of top management is to ask

the question 'what is our business?' and to ensure that it is carefully studied and correctly

answered." He stated that the customer determined the answer. Market position, innovation,

productivity, physical and financial resources, worker performance and attitude, profitability,

manager performance and development, and public responsibility are among the eight areas where

objectives should be set, according to him.

3. Scope of Strategic Management

Strategic management is described by Constable (2018) as "the management procedures and

decisions that govern the organization's long-term structure and operations." There are five major

themes in this definition:

(i) Management Process. The management process as it relates to the creation and
modification of strategy.

(ii) Executive Choices. The decisions must clearly connect to a solution to problems that have

been identified (how to avoid a threat; how to capitalize on an opportunity).

(iii) Time Intervals. The strategic time horizon is quite extensive. It can, however, be quite

brief for a corporation in serious danger.

(iv) The Organization's Structure. People within a framework oversee an organization.

Strategic change can result from decisions made as a result of how managers collaborate

within the structure.

(v) The Organization's Activities. This is a potentially infinite field of study, and we will usually

focus on all activities that have an impact on the organization.

4. Importance of Strategic Management

Strategic business management's primary goal is to aid the company's profit and decision-

making, but its functions can also be divided down. Here are some of the reasons why strategic

management is so important in the corporate world:

(i) Planning is an important management tool for any business. The primary goal of the

strategic planning process is to forecast future trends that will aid in the growth of the
 company. To do this, strategic planning instruments must be employed rather than

simple planning methods.

(ii) Forward thinking: You'll be able to set clear, long-term goals with the help of a well-

thought-out approach. These objectives are necessary so that you have a clear

understanding of how to proceed, which is good to an organization's overall growth.

(iii) Resource allocation: One of the most difficult aspects of strategy management is having to

make decisions under duress, frequently with little resources.

(iv) Strategy Management: teaches you how to make sure that the company's resources, such

as products and services, are wisely allocated and invested in the most promising

prospects. This is why, as long as it is the best, a skilled strategy manager will tell you that

less is more.
(v) Strengths and Weaknesses: No one knows a firm like its owner, who will be able to identify

the company's strengths and shortcomings. However, simply being aware of a company's

flaws and strengths is insufficient. Strategic planning is used to close the gap between a

company's capability gap and its strength.

(vi) Environmental impact: As a business owner, you must understand how your company

affects the environment and vice versa. Being aware of future prospective market

movements that may effect the firm and its environmental impacts is an important part of

strategy management.

D. Research Procedure- This study focuses on the predicaments and development

underwent by entrepreneurs/businessmen of Kidapawan City in adapting their business

to the new norms prompted by the current global crisis. The data collection will be

conducted to a select few entrepreneurs/businessmen. Respondents were chosen through

purposive sampling method. This study will not cover other problems that are not

relevant to the objectives of the study. The study would be done through the utilization of

questionnaire to the respondents relayed by their children from the researchers. By this

strategy, the researchers will be able to determine and identify strategies, hindrances and
 measures that businessmen of Kidapawan City have underwent and implemented to cope

with the mounting challenges of the current global crisis.

II. BODY

A. Pandemic breakouts have always been a source of concern. The discussion has

not focused on whether there will be an outbreak, but when new outbreaks will happen (Stöhr &

Esveld, 2004). The events that lead to influenza pandemics are recurrent biological occurrences that

can't be avoided. Pandemics appear to occur every 10–50 years as a result of new viral subtypes

emerging from virus re-assortment (Potter, 2001). As the world's population grows and we become

more reliant on animals, it's conceivable that new viruses will be transmitted to humans on a more

regular basis. All our society can do is take precautions so that we can respond promptly if an
outbreak is suspected.

Because we are in the midst of a pandemic, predicting its long-term consequences is

extremely challenging. Despite the fact that civilization has been touched by multiple pandemics in

the past, it is difficult to predict the long-term economic, behavioral, or societal implications

because these aspects have not been thoroughly investigated. According to the little studies that

have been done, the main historical pandemics of the last millennium have been linked to following

low returns on assets (Jorda, Singh, & Taylor, 2020). We tend to become less interested in investing
and more interested in saving our cash following a pandemic, resulting in slower economic growth.

Given the current situation, in which preserving capital results in negative returns, we are unlikely

to be as cautious as we have been in the past. Behavioral changes associated with pandemic

outbreaks appear to be linked to personal protection, such as the wearing of face masks (Funk,

Gilad, Watkins, & Jansen, 2009), rather than general behavior changes (Funk, Gilad, Watkins, &

Jansen, 2009). As humans in a modern culture, our lives appear to be more concerned with

convenience than with anticipating what might happen in the future.

Many businesses have been forced to close as a result of the COVID-19 epidemic, causing

severe disruptions in various industry sectors. Short-term difficulties confront retailers and brands,

including those relating to health and safety, supply chain, workforce, cash flow, consumer demand,
sales, and marketing. However, overcoming these obstacles does not ensure a bright future, or even

a future at all. This is because, once the pandemic is over, we will be thrust into a world that is

vastly different from the one that existed prior to the outbreak. Many markets, particularly in the

tourist and hospitality industries, have vanished. All organizational functions are designed to

prioritize and optimize spending, as well as postpone work that will not add value in today's climate.

The coronavirus disease (COVID-19) has thrown the world's, regional, and national

economies into disarray. To protect people's health and curb the spread of the virus, people's lives

and economic activities have been severely restricted. Quarantines have been accompanied by

travel prohibitions, temporary school and workplace closures, and social isolation. Meanwhile,

private-sector enterprises have reduced output and service delivery, and have been obliged to lay

off workers on a temporary basis. They are unable to continue operating due to a shortage of

working capital. COVID-19 containment for an extended period of time raises the likelihood of

business failure and insolvency. Micro, small, and medium-sized businesses, in particular, are

vulnerable to supply chain disruptions and tightened financial conditions. Companies, particularly

start-ups, have imposed a hiring moratorium that will last indefinitely. Simultaneously, online

communication, entertainment, and shopping are all seeing extraordinary growth.

Despite the local lockdown restrictions in March 2021, more businesses opened in May 2021

than in November 2020, yet many of them were still operating at capacity. The percentage of firms

that were fully or partially operational grew between November 2020 and May 2021. However, in

May 2021, the Philippines' operational company share is expected to be over 70%. Furthermore, a

significant portion of them continued to run at below-capacity levels, owing to cash limitations and

a lack of demand. The speed of reopening has slowed, owing to the National Capital Region's (NCR)

trailing performance, and has been slower for micro-corporations (as opposed to small, medium,

and large firms) and businesses in the hotel industry (compared to other sectors). Sales have
continued to fall at a comparable rate through the end of 2020, owing to decreasing sales

performance of enterprises in the NCR, Calabarzon, and Central Luzon regions due to mobility

constraints. implemented in order to stop the infection from spreading. While Luzon, Visayas, and

Mindanao have seen considerable gains, businesses in the NCR, Calabarzon, and Central Luzon have

seen a steeper reduction in sales of roughly 5 percentage points (pp) when compared to November
2020. In this phenomenological study, researchers obtained and explored the insights of several

businessmen in the city of Kidapawan (located in Mindanao) on their experience of dealing with the

predicaments that have come with the rise of the current global crisis, as well as observing the

strategies and actions they have implemented for their start-up businesses in order to adapt to a

wide variety of marketing assets.

III. CONCLUSION

A. In conclusion, based on the findings of this study, we can conclude that the tools
and services provided by business incubators have had a direct and beneficial influence on startup
survival. This reaffirms the importance of these organizations in assisting the businesses that drive
our economy forward. However, we cannot rule out the possibility of further research into other
variables such as digitalization or the entrepreneur's profile when confronted with a crisis such as
the one experienced by the COVID-19, leaving open the possibility of continuing this line of inquiry
and analyzing these factors separately.