EVALUATING A COMPANY'S EXTERNAL ENVIRONMENT

Assalamualaikum ...........



In chapter 3 , I learn about "  Evaluating a Company's External Environment " topic . In summary, this topic is about thinking strategic about a firm in external environment .

Have two concept in this chapter which are macro-environment and PESTEL analysis . Macro - environment means encompasses the broad environmental context in which a company's industry is  situated. While , PESTEL analysis focuses on the six principal components of strategic significance in the macro - environment .

• Political factors and Economic factors in the firms general environments ( local , country , regional and worldwide ) . 
• Sociocultural forces , Technological  factors and Environmental factors ( concerning the natural environment ) 
• Legal / Regulatory conditions

These components has the potential to affect the firm's more immediate industry and competitive environment . 

Others subtopic is about Immediate Industry and Competitive Environment . Competitive pressure on companies within an industry come from five sources . These include : 

1. competition from rival sellers
2. competition from potential new entrants to the industry
3. competition from producers of substitute products
4. supplier bargaining power
5. customer bargaining power 

In brief , using these five sources have three steps involve  . 

•  steps 1 : identify different parties involved , along with the specific factors that bring about competitive pressure
• steps 2 : evaluate how strong the pressures stemming from each of the five sources either strong , moderate or weak . 
• steps 3 : determine whether the strength of the five forces , overall , is conducive to earning attractive profits in the industry . 

Chapter Two

Assalamualaikum ........


on 17 September 2013 also learn about Vision and Mission .

What is the vision ?

Miss Ummi is according 'what we want to become ? ' in the future .

What is the mission ?

Mission is like how to achieve the vision ?

Basically , all of business , university , school and company have their own vision and mission for increase their ability to get the best result in future .



From this topic , I actually can imagine what I want to become and how I can achieve my vision . USIM also have their vision and mission . How about their student ? So , lets thinking about our vision and mission . :)

Chapter One !!

Assalamualaikum ........



On 17 September 2013, I have learn about Chapter One which is The Nature of Strategic Management .

Basically, in this chapter have three element which are :

1) Formulating

2) Implementing 

3) Evaluating

Stage of Formulating is related with SWOT analysis which are Strength , Weaknesses , Opportunity and Threats .

 In this stages , people must have their strategy and planning how to do it . What they planning , it will be performed at second stage namely Implementing stage . Lastly , if their planning not achieve what they want to be , they must find the mistake and from the mistake they learn form the mistake . This in Evaluating stage . 

Other than that , I learn about Hierarchical Level of Strategy .

First Class Activity

Assalamualaikum . 

10 September 2013 is the first lecture for Strategic Management subject . Miss Ummi will teach us for 1 semester for this subject . My impression for the first lecture is boring but after she asked all of us to build the highest tower , I change my mind because this is the best subject . My group tower was the highest and the second strong tower than other . 

From this activity , I got a lot of lesson . We must have strategy and planning for daily life and how to manage the time given to get a best result .