Week 12 : Chapter 11 : MANAGING INTERNAL OPERATIONS: ACTIONS THAT PROMOTE GOOD STRATEGY EXECUTION

              It is the same week in the last post, but I separate it in different chapter. In this chapter, I Learn why resource allocation should always be based on strategic priorities. Next was to Understand how well-designed policies and procedures can facilitate good strategy execution. Third are, to Learn how best practices and process management tools drive continuous improvement in the performance of value chain activities and promote superior strategy execution.

             Fourth are Recognize the role of information and operating systems in enabling company personnel to carry out their strategic roles proficiently and last are Comprehend how and why the use of well-designed incentives and rewards can be management’s single most powerful tool for promoting adept strategy execution.

Next I learned about How Policies and Procedures Facilitate Good Strategy Execution

              On the other hand, the  Benchmarking and Best-Practice Implementation to Operating Excellence that I learned in this chapter :

               Furthermore, I also learned about the SIX SIGMA and THE DIFFERENCE BETWEEN BUSINESS PROCESS RE ENGINEERING AND CONTINUOUS IMPROVEMENT.

               The most important things is I learned about USING REWARDS AND INCENTIVES TO PROMOTE BETTER STRATEGY EXECUTION. :)

Week 12 : Chapter 10 : BUILDING AN ORGANIZATION CAPABLE OF GOOD STRATEGY EXECUTION: PEOPLE, CAPABILITIES, AND STRUCTURE

In this week, the lecturer have gave us  piece of paper, which is Myers Brigss Type Indicator (MBTI).Its about personality test. We must answer four questions to determine what types of person we are.

After I completed answer the question, I got the combination of ISTP. Its quite similar with my personality but not at all. For sure this result will guide me to be more knowledgeable and give me motivation in my life.

We continued to chapter 10, in this chapter, we should know how to Gain command of what managers must do to execute strategy successfully. Next is to Learn why hiring, training, and retaining the right people constitute a key component of the strategy execution process. Third is about the Understand that good strategy execution requires continuously building and upgrading the organization’s resources and capabilities.

Forth, is also know how to Recognize what issues to consider in establishing a strategy-supportive organizational structure and organizing the work effort. And lastly Become aware of the pros and cons of centralized and decentralized decision making in implementing the chosen strategy.

OSHIMA JAPANESE RESTAURANT

Bismillahirahmanirahim, In this week, i will tell you what we have done in our class. Our class have been placed by the sharing session with the founder of Oshima Japanese Restaurant, Madam Asnidar Hanim Yusuf. She does not from the business family, but she tried to be then.  Oshima Japanese Restaurant is the one place that offers authentic Japanese food and fusion food. She told us that what is the thing that make her restaurant was totally different with others Japanese food is her restaurant is more concern about halal.

Madam Asnidar also are very good to share her knowledge in business area to us. When she open her business, she told that she is very hard to find the Japanese supplier that have the Halal certification from Jakim. The Japanese are refused to apply for the certificated. 

I am very proud of her because with her passion to try on this are of business, she have sucess now days int his area. Furthermore, she invite all of us to involve in business because it will give us the satisfaction when we become more successful.

Chapter 7 :STRATEGIES FOR COMPETING IN INTERNATIONAL MARKETS

In this chapter,I learned about STRATEGIES FOR COMPETING IN INTERNATIONAL MARKETS. First in this chapter, I know about :

Next was about The Diamond of National Advantage

So, what is the Diamond Framework?

uAnswers important questions about competing on an international basis by:

●Predicting where new foreign entrants are likely to come from and their strengths.

●Highlighting foreign market opportunities where rivals are weakest.

Identifying the location-based advantages of conducting certain value chain activities of the firm in a particular country

Next was about Three Approaches for Competing Internationally

On the other hand is about Profit Sanctuary Potential of Domestic-only, International, and Global Competitors

Week 6 STRENGTHENING A COMPANY’S COMPETITIVE POSITION: STRATEGIC MOVES, TIMING, AND SCOPE OF OPERATIONS

In this chapter, I learned the best things that is STRENGTHENING A COMPANY’S COMPETITIVE POSITION: STRATEGIC MOVES, TIMING, AND SCOPE OF OPERATIONS

First of all, its about MAXIMIZING THE POWER OF A STRATEGY

Next, we should know about CONSIDERING STRATEGY-ENHANCING MEASURES

I also have learned how to choose THE BASIS FOR COMPETITIVE ATTACK

The vertical integration Strategies is also important.

Week 5 of Strategic management

What I have learned in chapter 5 are about THE FIVE GENERIC COMPETITIVE STRATEGIES: WHICH ONE TO EMPLOY?

First, what should I know is Why do strategies differ ? 

Next was about The Five Generic Competitive Strategies

After that, I learned about Cost Drivers: The Keys to Driving Down Company Costs

In this chapter also, I learned SUCCESSFUL APPROACHES TO SUSTAINABLE DIFFERENTIATION

uDifferentiation that is difficult for rivals to duplicate or imitate:

●Company reputation

●Long-standing relationships with buyers

●Unique product or service image

uDifferentiation that creates switching costs that lock in buyers

●Patent-protected product innovation

●Relationship-based customer service

Week 4 of strategic management

Ok, in this week, we will discuss about EVALUATING A COMPANY’S RESOURCES, CAPABILITIES, AND COMPETITIVENESS. What we should know in the first is about :

4.1 Identifying the Components of a Single-Business Company’s Strategy

in this chapter, what I know about the core concept is  A resource is a competitive asset that is owned or controlled by a firm

♦A capability or competence is the capacity of a firm to perform and internal activity competently through deployment of a firm’s resources.

♦A firm’s resources and capabilities represent its competitive assets and are big determinants of its competitiveness and ability
to succeed in the marketplace.

I also have learn the SWOT analysis that is

SWOT Analysis

is a powerful tool for sizing up a firm’s:

internal strengths (the basis for strategy)

Internal weaknesses (deficient capabilities)

Market opportunities (strategic objectives)

External threats (strategic defenses)

I also leran how to identify A COMPANY’S INTERNAL STRENGTHS

uA Competence

●Is an activity that a firm has learned to perform with proficiency—a capability.

uA Core Competence

●Is a proficiently performed internal activity that is central to a firm’s strategy and competitiveness.

uA Distinctive Competence

●Is a competitively valuable activity that a firm performs better than its rivals.

Today I will continue my post in this blog about strategic management. What will we discuss in chapter three are about :

EVALUATING A COMPANY’S EXTERNAL ENVIRONMENT

3.1 From Thinking Strategically about the Company’s Situation to Choosing a Strategy

After we understand on that flowchart, we should know what is it CORE CONCEPT. Its is  the macro-environment encompasses the broad environmental context in which a company’s industry is situated that includes strategically relevant components over which the firm has no direct control.


In Core Concept, it's include PESTEL that is an analysis that  focuses on the six principal components of strategic significance in the macro-environment:

●Political

●Economic,

●Social

●Technological,

●Environmental

●Legal

3.2 : The Components of a Company’s Macro-Environment

This will explain to you briefly

3.3 The Five-Forces Model of Competition: A Key Analytical Tool

3.4 Factors Affecting the Strength of Rivalry

3.5 Factors Affecting the Threat of Entry

3.6 Factors Affecting Competition from Substitute Products

3.7 Factors Affecting the Bargaining Power of Suppliers

What do we want to become?
           1. A vision statement should answer the basic question, "What do we want to become?"
           2. The vision statement should be short, preferably one sentence.

What is Our business?
         
           Making Mission Statement
           1. A declaration of an organization's
           2. Answers the pivotal question
           3. Reveals what an organization wants to be and whom it wants to serve.

How is the process of developing Vision and Mission?

          1. Select several articles about these statements and ask all managers to read these as background                       information.

           2. Ask managers themselves to prepare a vision and mission statement for the organization.

           3. Merge these statements into a single document and distribute the draft statements to all managers

           4.Process should create an “emotional bond” and “sense of mission” between the organization and its employees.

What is the importance of Vision and Mission Statement

          1.To ensure unanimity of purpose within the organization

             2.To provide a basis, or standard, for allocating organizational resources

             3.To establish a general tone or organizational climate

Strategic Management Chapter One

Strategic management Chapter One

What is Strategic management?

              strategic management is the art and science of formulating, implementing, and evaluating cross-functional decisions that enable an organization to achieve its objectives.A strategic plan is a company’s game plan.

What is the stages in Strategic management?

         1. Strategy Formulation

         2. Strategy implementation

         3. Strategy Evaluation

What is the Key Terms in Strategic Management?

         1. Competitive advantage that is anything that a firm does

         2. Strategists is the individuals who are most responsible for the success or failure of an organization.

         3. Vision Statement

         4. Mission Statement

         5. External opportunities and external threats

         6. Internal strength and internal weakness

         7. Objectives that specific results that an organization seeks to achieve.

         8. Strategies

         9. Annual objectives

        10. Policies that means by which annual objectives will be achieved

What is the Strategic-Management Model?

        1. Where are we now?

        2. Where do we want to go?

        3. How are we going to get there?

What benefits that we earn in Strategic Management to a firm?

        1. Managers and employees become committed to supporting the organization.

        2. Enhance communication

        3. Improved understanding

        4. Greater Commitment

        

What benefits that we earn in Financial from strategic management?

        1. Show significant improvement in sales, profitability and productivity.

        2. High performing firms seem to make more informed decisions with good anticipation