Philippine Christian University

Bachelor of Science
in
Office Administration

MODULE 2 Strategic Management

Submitted by: Donato B. Serrano

REVIEW QUESTIONS
1. Define advanced strategic management.
- Advanced strategic management aims to go beyond traditional strategic planning
methods by integrating a broader range of perspectives, tools, and techniques to
navigate complex business landscapes and create value for the organization in the
long run.

2. Give the three stages of advanced strategic management process. Define each.
- Strategy Formulation: It involves analyzing the organization's internal and external
environment, identifying opportunities and threats, leveraging strengths, and
mitigating weaknesses. Strategy formulation requires making strategic choices
about where to compete, how to differentiate, and what resources and capabilities
are needed. The outcome of strategy formulation is a set of strategies and action
plans that guide the organization in achieving its desired outcomes and creating
sustainable competitive advantage.
- Strategy Implementation: It involves translating the strategic vision and objectives
into tangible actions and ensuring their effective implementation throughout the
organization. Strategy implementation encompasses various activities and steps.
- Strategy Evaluation: It involves monitoring and measuring the outcomes and
results of strategic initiatives to determine whether they are aligned with the
organization's objectives and contribute to its overall success. Strategy evaluation
aims to provide insights into the performance of the strategies and identify areas for
improvement or adjustment.

3. Explain Einstein’s rationale for saying “Imagination is more important than

knowledge.” Would you agree with Einstein? Why or why not?
- In my opinion, I agree with Einstein's perspective that imagination is more
important than knowledge, but with a caveat. Knowledge provides the foundation
and context for imagination to thrive. A deep understanding of existing knowledge
and principles allows us to build upon them and push the boundaries of what is
known. Imagination works hand in hand with knowledge, as it helps us explore
beyond the limits of our current understanding and envision novel ideas and
solutions. Both knowledge and imagination are vital in their own ways. Knowledge
provides the factual basis and structure for understanding, while imagination fuels
creativity and innovation. It is the synergy between knowledge and imagination that
drives progress and leads to transformative breakthroughs. Therefore, while I agree
with Einstein's emphasis on the importance of imagination, I believe that it is the
combination of knowledge and imagination that truly propels us forward in our
pursuit of knowledge and innovation.

4. Explain how and why firms use social networks these days to gain a competitive
advantage.
- In today's digital age, firms are increasingly utilizing social networks to gain a
competitive advantage. They use social networks to gain a competitive advantage
by enhancing customer engagement, increasing brand visibility, gathering real-time
market insights, establishing thought leadership, leveraging influencer marketing,
and attracting top talent. Also, by effectively utilizing social networks, businesses
can differentiate themselves from competitors, stay relevant in an ever-changing
market, and drive growth and success.

5. Discuss how relevant you think Sun Tzu’s Art of War writings are, for firms today,
in developing and carrying out a strategic plan.
- Its teachings can still be relevant and useful for firms today. The principles of
understanding the competitive landscape, strategic planning, adaptability, resource
management, and risk assessment are applicable in developing and carrying out a
strategic plan. However, it is essential to interpret and adapt these principles to the
unique circumstances and challenges faced by modern businesses.