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