MAF661 Strategic Management Assignment Sample UiTM Malaysia
Strategic Management can be a challenging course to teach because it requires students not only to understand the theoretical concepts involved, but they must apply those knowledge principles for their understanding of this subject matter truly sink into place. This is where I think my expertise comes into play – by giving them practical experience with real-world applications that will allow these new skillset acquisitions to happen much more easily than if you were just reading about something or watching videos online alone would do.
The goal of Strategic Management is to develop the ability to think critically about an organization’s strategic position – in other words, where they are now and where they want to be in the future. This means being able to understand and analyze an organization’s strengths and weaknesses, as well as opportunities and threats that may impact its business. It also requires an understanding of the different ways that organizations can create and sustain a competitive advantage.
The best way for me as an instructor is to make sure every student has success stories from various industries so there’s no question whether what we’re learning applies anywhere outside our classroom walls.
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Assignment Task 1: Practice Leadership Skills In Tasks Related To Strategic Management.
The most important task to practice strategic management skills is to become a great leader. Leaders need to be able to see the big picture, understand complex systems, and make decisions that will benefit their organization in the long run.
There are several ways to practice leadership skills and improve your strategic management abilities. One way is to read books and articles on the topic, attend leadership workshops and courses, or participate in online forums or discussion groups. You can also try out different methods of problem-solving and decision-making in a safe environment, such as through simulation games or role-playing exercises. And finally, you can observe leaders who are good at strategic management and learn from their successes and mistakes.
Whatever method you choose, the important thing is to keep practising and expanding your skills. The more you practice, the better you will become at strategic management and leadership.
Assignment Task 2: Propose A Solution Based On Related Strategic Issues.
If your company is facing strategic issues, it’s important to come up with creative solutions that will address the underlying problems. Here are a few suggestions:
- Conduct a SWOT analysis to identify your company’s strengths, weaknesses, opportunities, and threats. This will give you a good starting point for addressing your strategic issues.
- Develop a clear business strategy. This will help you focus your efforts and make sure everyone in your company is working towards the same goals. Without a clear strategy, it’ll be difficult to solve strategic issues.
- Make use of technology. There are many helpful tools and applications out there that can help you with everything from project management to marketing campaigns. Utilizing technology can help you work more efficiently and effectively.
- Stay flexible. Be willing to change your plans if they’re not working out. Sometimes the best solution is one that you didn’t originally anticipate.
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Assignment Task 3: Demonstrate Communication Skills In Tasks Related To Strategic Management.
Demonstrating communication skills in tasks related to strategic management can be tricky- on the one hand, you want to be able to see the big picture and keep an eye on long-term goals, but on the other hand, you need to know how to execute and deliver results day-to-day. Luckily, some tried and true tactics can help.
First and foremost, clear and concise communication is key. When communicating with your team or colleagues about strategy, it’s important to be as clear as possible about what you’re trying to achieve and why it’s important. This means avoiding jargon and short-hand whenever possible, and instead of taking the time to explain things in plain language. It can also be helpful to provide concrete examples to illustrate your points.
Secondly, it’s important to be open to feedback and willing to adjust your plans based on input from others. No strategic plan is perfect, and there will always be room for improvement. By soliciting feedback and being willing to make changes, you’ll show that you’re committed to achieving the best possible results.
Finally, don’t forget to celebrate successes along the way. Achieving big goals takes time, and it’s important to keep everyone motivated by celebrating interim milestones. This will help everyone stay focused and on track, and it will make the eventual success that much sweeter.
Assignment Task 4: Demonstrate Entrepreneurial Skills In Tasks Related To Strategic Management.
There are several tasks related to strategic management that demonstrate entrepreneurial skills. For example, conducting a SWOT analysis is an important part of developing a business strategy, and can be used to identify opportunities and threats in the market as well as the company’s strengths and weaknesses.
Another task that requires entrepreneurial skills is creating a business model. A business model outlines how a company plans to make money and covers topics such as customer segments, value propositions, channels, and revenue streams. It’s important to have a clear understanding of your business model so you can make sure your products and services are profitable.
Finally, another task related to strategic management that demonstrates entrepreneurship skills is launching a new product or service. This can be a risky endeavour, but if done correctly can lead to significant growth for a company. To successfully launch a new product or service, it’s important to have a detailed plan that takes into account market research, target customers, and competition.
Overall, there are many tasks related to strategic management that require entrepreneurial skills. Demonstrating these skills can help you create a successful business strategy and achieve your business goals.
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