SIXTH ENTRY

Assalamualaikum to all readers. This week I learned about The Five Generic Competitive Strategies:  Which One to Employ?

 This chapter generally distinguishes each of the five generics strategies and why some of these strategies work better in certain kind of industry and competitive conditions than in others.

 The Five Generic Competitive Strategies are low-cost provider, broad differentiation, focused low-cost, focused differentiation, and best-cost provider.

 For low-cost provider it makes me think about Air Asia Company that can offer the best low-cost ticket fees.  For sure it will cut some cost are not related so they can provide the best cost price for the customer.

 For broad differentiation we can say Apple Inc. use this strategy. They came out with technology that different than other company such as ios program system.

 This program just applicable and work with Apple gadgets. From this strategy I think that one of the benefits is can create brand loyalty among customers because there will feel that there have something different than others. 

For focused strategies, it will focus more on niche area that they want deliver the product. They will specialize the product to avoid from compete with strong competitors. Ferrari, GAP uses this strategy.  

This is answer for lecture activity from this chapter.

BROAD COST LEADERSHIP Old Town White Coffee                                                      Al-Ikhsan Coca cola Mc Donalds Kfc Subway Mydin Air Asia	FOCUS COST LEADERSHIP Avon Tesco Giant IKEA Kamdar Facebook Google Digi Maxis
BROAD DIFFERENTATION Kia Motors Malaysian Airlines Proton Perodua Honda Victoria Secret Toyota Nike Bonia	FOCUSED DIFFERENTATION JW Marriot Louis Vuitton Rolls-Royce Porche

That's all for this entry. Till we meet again :)

FIFTH ENTRY

Assalamualaikum. For this week I learned about evaluating company’s resources, capabilities, and competitiveness. After learned this topic I will be able discover how to access the company’s strength and weaknesses in light of market opportunities and external threats.

 I can also understand how comprehensive evaluation of a company’s competitive situation can assists managers in making critical decisions about their next strategic moves.

 The best section in this chapter is SWOT analysis (strength, weaknesses, opportunities, and threats). Look simple but this is a powerful tool for sizing up

 a company’s strengths and weaknesses, its market opportunities,

 and the external threats to its future well-being. But remember; simply list those all elements are not enough, it should come out with strategy to improve the company’s situation.

 I love this swot analysis because I always use it in my tutorial class by doing study case analysis. From that activity a can identified all the elements in an organization. 

The first study case is Robin Hood but we did not use swot analysis.

 The second study case is Digital Age: Shall I Tag Along we use start use this approach. Interesting!

 The best word to describe this activity inn tutorial class. 

We have divided into group so we can work each other and the swot analysis will

 come more quickly rather than do it alone.

 After finish that activity, Madam Huda had promised us to teach us TOWS MATRIX. In shaa Allah I will share in the next entry. That’s all for this entry. Till we meet again J

FOURTH ENTRY

Assalamualaikum to all readers. Hope you are fine. In shaa Allah J . For this week I learned about vision and mission statement.

 Before that I will tell you about what is vision and mission. Vision is our objective. Or in other word it describes briefly what we want to achieve.

 Mission is the way or several ideas that help to accomplish the vision. For example, my vision is want to further study in master after finish the degree. 

So how I want to achieve that? I must finish or complete my degree successfully. It is vision and mission important? For me yes it is. Both are important in our life or organization.

 Because this two words tell others about our goals and to make people clear what we want to achieve

. For me also all companies that exist in this world must have good vision and mission statement to convince the stakeholders and shareholders to be a part in the company

. In my tutorial class Madam Huda ask us in TMA 1 to share with her about our vision and mission.

 She told us that she will keep that as her collection and she will wait for us whether

 we accomplish the vision and mission after finish our degree

. I think this is a good approach and become more inspired to make it reality.

 Thanks Madam Huda for your support. I will try my best to accomplish that.

In this week also we learned about PESTEL analysis. What is pestel? Pestel analysis is an acronym for Politic, Economic, Social, Technological, Environment, and Legal.

 This is an analysis that has been used for organization to interpret their external environment. This pestel analysis is important to select the best strategy and business model for the firm.

 And we use this in TOWS analysis. 

We also learned about 5 competitive models which are competition from rival sellers, competition from potential new entrants, and competition from producers of substitute product, supplier bargaining power, and customer bargaining power.

 For this analysis organization can identify the different parties involve and specific factors that bring about competitive pressure. The organization also can classify the how strong the pressure

 (strong, moderate, or weak), and can determine whether the forces factors is conducive to earning profits in the industry. I think that’s all for my entry. Till we meet again in other entry. J

THIRD ENTRY

Bismillah :) Assalamualaikum to all readers. This is entry for the second class. In this class i had learned about strategic management process itself. I also learned the term that use in this subject and benefit of good strategic management. Okay lets talk about strategic management process. Strategic Management is :

" the art and science of formulating, implementing, and evaluating cross-functional decisions that enable an organization to achieve its objectives "

Sometimes it synonymously with the term strategic plan and for the organization strategic plan is 

a GAME PLAN for them.

Strategic Management Process

I also learned the new term in this subject. All this new term will help me to
understand better in this subject.
I do believe all subject have their own term to describe the subject it self. even though all subject that
I learned in English but their have their own term in certain word. moreover I can add my
 vocabulary in English. :))

so, what is benefit I learned this subject?

There are many benefits while learned this subject.

 This subject will focus more on 

strategy and planning for company to be better organization.

 this subject will give me more

better understanding on how to develop, to make best decision, and to use

the available recourse in and within the company.

 I think that's all for this entry.

I will continue for next lesson :)

  

Ss