UNIVERSITY OF THE EAST

COLLEGE OF BUSINESS ADMINISTRATION

SECOND SEMESTER S.Y. 2022-2023

Santos, Mark Christhoper Y. September 4, 2023

Prof. Laine Nono Zarate Prelim Activity 1

Reflection About Strategic Management

Strategic management is the process that guides organizations towards their long-term goals
and objectives in an ever-evolving business environment. It encompasses a structured approach to
decision-making, resource allocation, and action planning. This essay delves into the concept of strategic
management, its importance, and the key stages and components that constitute this critical
organization practice. In other words, strategic management is the systematic and comprehensive
process through which an organization formulates, implements, and evaluates strategies aimed at
achieving its long-term goals and objectives. It serves as the bridge between an organization’s mission,
vision, and the tactics requires to fulfill them. It is not a on-time event, but rather a continuous cycle of
activities that drive an organization’s success.

Strategic management is very significant for organizations for several reasons. It gives the
organization its direction and purpose, because it gives clarity of direction and purpose by defining the
long-term objectives and the means to achieve them. It gives competitive advantage by identifying their
unique strengths and leveraging them in the market. Organizations can adapt to change when they have
effective management. Resources will also be allocated and be optimized which ensures efficiency. Also,
with strategic management, it can promote long-term thinking which gives the organization its
sustainability and continuous growth. Strategic management also aligns the organization’s actions and
decision with its mission, vision, and core values which ensures that every aspect of the organization
supports its goals. Identifying, assessing, and managing the risks associated with the chosen strategies
which also mitigates the potential negative consequences. With proper management, the organization
can maintain its competence on a high level. It encourages learning and development within the
organization as it makes the employees and teams adapt and acquire new skills and knowledge to
remain competent. Good strategic management also makes the organization stay attuned to the
customers’ needs and market trends, which makes the organization responsive and act fast to changes.

In conclusion to all of this, strategic management is essential to every organization because it

helps them make a course toward their long-term objectives, and navigate a dynamic business
environment, optimize resource allocation, and sustain their competitive advantage. It provides a
framework for making informed decisions, adapting to change, and ensuring that the organization
remains focused on its mission and vision. Ultimately, strategic management is the backbone for
achieving sustained success and organization excellence.