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    Knowledge Check - Strategic Management 2

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    Par Kleng
    This document is a knowledge check submission from Claire Demeng A. Paras for her Strategic Management 2 course at Philippine Christian University Graduate School of Business & Management. In the submission, Paras discusses three topics: 1) why study strategic management, noting that it helps set organizational direction and ensure proper resource allocation; 2) the importance and limitations of strategic management for organizational success, including understanding customer needs and analyzing competitors; and 3) innovations she would apply as a company manager, such as creating digital tools to improve the customer experience and encouraging employee idea generation through conference rooms and brainstorming sessions.

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    Knowledge Check - Strategic Management 2

    Uploaded by

    Par Kleng
    33 views3 pages
    This document is a knowledge check submission from Claire Demeng A. Paras for her Strategic Management 2 course at Philippine Christian University Graduate School of Business & Management. In the submission, Paras discusses three topics: 1) why study strategic management, noting that it helps set organizational direction and ensure proper resource allocation; 2) the importance and limitations of strategic management for organizational success, including understanding customer needs and analyzing competitors; and 3) innovations she would apply as a company manager, such as creating digital tools to improve the customer experience and encouraging employee idea generation through conference rooms and brainstorming sessions.

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    KNOWLEDGE CHECK _ STRATEGIC MANAGEMENT 2

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    This document is a knowledge check submission from Claire Demeng A. Paras for her Strategic Management 2 course at Philippine Christian University Graduate School of Business & Management. In the submission, Paras discusses three topics: 1) why study strategic management, noting that it helps set organizational direction and ensure proper resource allocation; 2) the importance and limitations of strategic management for organizational success, including understanding customer needs and analyzing competitors; and 3) innovations she would apply as a company manager, such as creating digital tools to improve the customer experience and encouraging employee idea generation through conference rooms and brainstorming sessions.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    33 views3 pages

    Knowledge Check - Strategic Management 2

    Uploaded by

    Par Kleng
    This document is a knowledge check submission from Claire Demeng A. Paras for her Strategic Management 2 course at Philippine Christian University Graduate School of Business & Management. In the submission, Paras discusses three topics: 1) why study strategic management, noting that it helps set organizational direction and ensure proper resource allocation; 2) the importance and limitations of strategic management for organizational success, including understanding customer needs and analyzing competitors; and 3) innovations she would apply as a company manager, such as creating digital tools to improve the customer experience and encouraging employee idea generation through conference rooms and brainstorming sessions.

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    Philippine Christian University

    Graduate School of Business & Management


    Masters in Business Administration

    KNOWLEDGE CHECK
    STRATEGIC MANAGEMENT 2

    SUBMITTED BY:
    PARAS, CLAIRE DEMENG A.

    NOVEMBER 2021

    Professor: BERNADETTE O. VILLALUZ, Ph.D


    KNOWLEDGE CHECK

    Individual Report: Explain and discuss

    1. WHY STUDY STRATEGIC MANAGEMENT?


    Strategic management skills are invaluable to organizations. To understand, why we should
    study strategic management it's important to know what is a strategy. I’ve always loved this
    definition of strategy by Alfred D. Chandler Jr.

    “Strategy is the determination of the basic, long-term goals and objectives of an enterprise,
    and the adoption of courses of action and the allocation of resources necessary for those
    goals” (Chandler, 1962)

    So, in the simplest of terms, it’s all about:


    • Operating the Business
    • Consolidating the Organization’s Competitive Position
    • Meeting Customer’s Needs & Expectations
    • Achieving Performance Targets

    Basically, it is everything that everyone in the organization should be doing - all the time. I like to
    think of strategic management as a straight line. It starts from where we are now to where are
    going and the strategy will dictate how we are going to get there.

    For strategic management to be successful then everyone should be staying on this line. And,
    should anyone or any activity stray from that line then it should be immediately acted upon to
    bring things back into balance. As such, strategy sets direction and focuses efforts. Plus, it will
    define an organization. And, provides consistency across the organization. And, we should study
    strategic management to better inform us to be more effective at doing this.

    To summarize, the study of strategic management will

    • Help set direction for the organization


    • Allow managers and staff to understand and work towards this direction
    • Ensure resources and energies are always allocated in the right way

    2. WHAT IS THE IMPORTANCE AND LIMITATION OF STRATEGIC MANAGEMENT TO THE SUCCESS


    OF YOUR COMPANY/ORGANIZATION?
    Strategic Management may have some very specific aims and goals that it is seeking
    to achieve, but it is simply about having a sustainable competitive advantage that
    helps the organization to expand profitably in the future.

    It helps discover the areas impacted by the development of companies and thereby
    helps to establish an operational plan to meet consumer needs. It helps to set the
    correct price for the goods and services of a company based on market research
    data collected.

    Strategic management will help you;


    • To understand the habits of the customers and their requirements correctly.
    • To Analyze what your competitors do
    • To know the advantage as an organization.
    • To Identify opportunities & Threats
    • To adjust with the market demand

    Therefore, every organization can have more benefited by having a strategy management.
    3. GIVEN THE CHANCE TO BE THE MANAGER OF YOUR COMPANY/ORGANIZATION, WHAT
    INNOVATIONS WILL YOU POSSIBLY APPLY TO SECURE ITS SUCCESS.

    I will be creating digital tools to make it easier for consumers to navigate a complicated system

    Once a framework or program is set up, employees start ideating. They work as if they are building
    startups within the company. Drawing upon their own experiences, they should ideate potential
    solutions to the problems the company has identified.

    There are many ways to encourage a positive brainstorming session, including through physical
    space. Conference rooms allow groups of people to come together and discuss ideas in a private,
    quiet space. Bonus points if the conference room has whiteboards in order to diagram or map out
    ideas. The company leaders will then judge the ideas produced.

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