MGT657 Strategic Management Assignment Sample UiTM Malaysia
This MGT657 course helps you understand the role of strategic management in business and government, as well as its application across various industries. It also covers key topics such as competitive advantage & corporate structure that will be relevant for your future career prospects.
In this course, you will learn about the strategic management process, which includes understanding the organisation’s mission and vision, conducting a SWOT analysis, developing objectives, formulating strategies and implementing them. You will also understand how to measure organisational performance and the different types of business models.
The course is delivered through a mix of lectures, tutorials, case studies and group work. By the end of the course, you should be able to apply the concepts learned to develop strategies for businesses in different industries.
This course is very important for those who want to understand the basics of strategic management and its applications. The course content is designed in a way that will be helpful for students in their future careers. The topics covered in this course are very important for those who want to pursue a career in strategic management.
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Assignment Activity 1: Explain Theories Of Strategic Management.
The strategies of strategic management are pursued through a process that is based on analytical tools and integrated with organizational practices. It considers the resources, capabilities, and competencies of the organization to develop action plans that support the implementation of the chosen strategy.
The main objective of strategic management is to formulate and implement policies that will ensure the success of an organization in a highly competitive business environment. Many organizations have turned to strategic management to gain a competitive advantage over their rivals.
To understand how strategic management can be used to achieve success, it is first necessary to understand what strategizing entails. At its most basic level, strategizing consists of setting objectives and then taking actions that will lead to the fulfilment of those objectives. To be effective, strategizing must take into account the resources and capabilities of the organization as well as the external environment in which it operates.
Several different theories of strategic management have been developed over the years. These theories differ in terms of their focus, level of analysis, and approach to formulating and implementing strategy.
Assignment Activity 2: Determine Relevant Strategic Decision Making.
When it comes to determining relevant strategic decision-making, the best thing to do is consider all of the factors involved in the situation and then make a decision based on what will help you meet your goals. There are a lot of different factors that you need to consider when making a strategic decision, so it’s important to take your time and think through all of the options before deciding on anything.
Some of the main factors you need to consider when making a strategic decision include:
- The impact of the decision on your company’s overall strategy
- The potential risks and rewards associated with the decision
- The costs and benefits of implementing the decision
- The resources required to implement the decision
- The likelihood of success or failure
- The timing of the decision
- The potential for setting a precedent
Once you have considered all of these factors, you can then start to narrow down your options and make a decision that is in line with your company’s goals. If you’re not sure what to do, it’s always best to consult with other members of your team or with an experienced business consultant. Making relevant strategic decisions is an important part of running a successful business. By taking the time to consider all of the factors involved in a decision, you can make sure that you are making the best choices for your company.
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Assignment Activity 3: Demonstrate Managerial Skills Related To Strategic Management.
Managerial skills related to strategic management are important for any organization. By definition, strategic management is the process of formulating and implementing policies that enable an organization to achieve its objectives. It involves the concept of creating a system within which an organization can function efficiently and effectively in pursuit of its goals.
There are a variety of managerial skills that are related to strategic management. These include, but are not limited to, planning, organizing and motivating. All of these skills are important for an organization to be successful in achieving its goals.
Planning is one of the most important managerial skills related to strategic management. This is because planning is what provides direction for an organization. It involves setting objectives and then developing a course of action to achieve those objectives. Planning also involves considering the resources that will be necessary to achieve the objectives and making sure that they are available.
Organizing is another important managerial skill related to strategic management. This is because organizing is what ensures that the resources that have been identified as necessary for achieving the objectives are used in the most efficient way possible. It also involves making sure that all of the activities that need to be carried out to achieve the objectives are coordinated.
Motivating is another important managerial skill related to strategic management. This is because motivated employees are essential for getting them to work towards the objectives of the organization. Motivation can take a variety of forms, such as providing incentives or offering rewards for achieving certain milestones.
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