The delay chapters.....

Assalamualaikum, hi everyone...

Today, i would like to post about the chapters that i had delay for a long time. Actually, i'm suppose to post it on week 4 and week 5, but due to my daily activities - 'busy' (just an excuse) and also my habit (lazy), i cannot complete my task in the given period...huh, i'm also disappointed with myself...huhu:( 

   

Chapter 4 : Evaluating A company's resources, capabilities, and competitiveness

OK, now i will start with the chapter 4 first. As you can see, this topic is about the company itself, like the company's strength, company's competitive advantages, and how the company use all their resources to compete their rival, etc. After this, I will explain about it further, but firstly, lets me define the meaning of resource, capability, and competitiveness.

Definition:

Resource - a stock or supply of money, materials, staff, and other assets that can be drawn on by a person or organization in order to function effectively.

Capability - a talent/power/ability or that has potential for development or use     

Competitiveness - an aggressive willingness to compete.

Based on the slides that given by Miss Ummi, there are 3 main questions that related to this topic.

Question 1
How well is the present strategy working?

Best indicator 
- the company achieve its objective and stated financial                    
- the company is an upper player (means that the firm is an above-average industry performer)                    

There are also other indicators which are:-
-The company's growth in sales and market share
-The company's profit margins, net profit and ROI (Return on  investment)
-The financial strength and credit rating

Thus, if we want to indicate our company's strategy and performances, we have to look up all the listed factors above. Actually, there are many more indicator of performance, but i just put several...(so, you have to find the other indicator by yourself..;)

Question 2
What are the firms competitively important resources and capabilities? 

On that class, we also learned about the Barney's framework (1991) that known as VRIN. Through this framework, we can determine if a resource is a source of sustainable competitive advantage. To serve as a basis sustainable competitive advantage, resources must be:-

VRIN - test for sustainable competitive advantages.

1. Valuable - meaning that they must be a source of greater value, in terms of relative costs and benefits, than similar resources in competing firms.
2. Rare - the sources must be rare in the sense that it is scarce relative to demand for its use or what it produces.
3. Inimitable - it is difficult to imitate.
4. Nonsubstitutable -other different types of resources cannot be functional substitutes.  

p/s : if other firms can easily understands and copy a capability, it is not a source of advantage.

Question 3
SWOT

Ok, enough with that, hopefully tonight I can continue with chapter 5....:) Please pray for me, huhu...:)

Evaluating external environment (chapter 3)

Bismillahirahmanirahim...

Right now, i will continue with another topic in the strategic management, which is the evaluating external environment (as shown in the title above). So, basically the two main things that i learned in this topic are about PESTEL and 5 Forces. 

Firstly, I want to introduce the six components of Macro-Environment, or in short-form, we called it as PESTEL.
.

So, from the picture above, you can straightly get the main components of Macro-Environment, right? But, it will be much easier if we just remember the PESTEL word. PESTEL analysis is a popular framework that used to understand the impact of external factors on organization and is used as strategic analytic technique. I will put a video that Miss Ummi had shared in the lecture class. 

  

Other than PESTEL, we also had learned about the 5 Forces analysis that was inspired by Micheal E.Porter and it was consists of five elements which are:

1) RIVALS        2) SUPPLIER       3) BUYER      4) SUBSTITUTES      5) NEW ENTRANCE

Actually, there are many others tools that an organization or individuals can use such as:

-SWOT (Strength, Weaknesses, Opportunity, and Threat)

-MOST (Mission, Objectives, Strategies, Tactics) 

-McKinsey 7-S (shared values, systems, staff, structure, style, strategy, and skills)

So, choose the suitable analysis tools, and use it to develop your business.

That's all for the chapter 3, i hope all of you can get benefits from it...:) 

'Arafah Day'

Assalamualaikum….good morning

Today, is a special day…do you know why? Ok, I will give a hint. It is one of the most important days in the Islamic calendar which falls on 9^th of Zulhijjah. So, anyone knows? Actually today is the ‘Arafah Day’. It is the day when pilgrims stand on the plain of Arafah to pray, while other Muslims all over the world who do not do the Hajj should spend the day in fasting. Fasting on this day is expiation for two years of sins.

It was reported from Abu Qutaadah (may Allaah be pleased with him) that the Messenger of Allaah (peace and blessings of Allaah be upon him) was asked about fasting on the Day of ‘Arafaah. He said, “It expiates for the sins of the previous year and of the coming year.” Narrated by Muslim.

So, let’s fasting today and try to get forgiveness from Allah...:) 

p/s: hopefully, i can go there (Makkah) sooner ....:)

My prayer (doa)

Bismillahirahmanirahim...

Today, i want to share something that differ from the previous post...not about the strategic management but about our relationship with Allah. i hope that all these pictures can remind us about our obligation toward Allah..:) Amin..

On the next post, I will continue share about the Strategic Management...:) Fighting!!

oh my presentation....huhu

Assalamualaikum, Hi everyone…:)

Right now, I’m still at Usim, waiting for our night class with En. Mahdhir (E-Commerce). Today, I had a presentation in the tutorial class with Pn. Siti Nurul Huda, (our tutor for strategic management). We had to present about our restaurant and also our competitors. It was fun, enjoyable and also informative as each group has different type of restaurants. We have burger, arabian foods, traditional foods and also steamboat....yummy:)

To be honest, actually on that presentation, I kept doing mistakes. I don’t know why but, as soon as my turn came, all the things that I want to talk about were disappeared…huhu:(  Sad but also funny too, because our team also make a huge mistake as we didn't realize that the lake beside our restaurant was actually a sewage plant (loji kumbahan - refer to google translate). Hehe…:)

Ok, enough with that. Now, I will continue with the second week of our lecture with Miss Ummi on 17 September 2013. During those 2 hours, we had learnt 2 chapters, which were the introduction of strategic management and also the vision & mission. 

Ok, lets share some new things that I got on that day…:)

Chapter 1….

Definition of strategic management:

The art and science of formulating, implementing, and evaluating cross-functional decision that enables an organization to achieve its objectives.

Nature of strategic management:

1) Strategy formulation – (consist of mission and vision)

2) Strategy implementation – (SWOT analysis and long-term objectives)

3) Strategy evaluation – (some activity that related to: review/observe/take corrective action)

We also learn about:

     *the three hierarchical level                                                         

·    *competitive advantages

·    *integrating intuition and analysis

Chapter 2…

Vision : our objective and aim

Mission : how to achieve those targets ( the ways/methods)

Actually, Miss I still cannot remember the things that I had learned in this subject very well, but I promise that I will put more effort…:) Today, I feel very motivated to get more knowledge about business, our current economic and also things that happened around the world as my classmates shared many interesting and informative knowledge, stories and also their experience in the tutorial class. So, hopefully i can achieve my targets.

Ok, that’s all for today….see you in the next post..:) sayonara...

first time being a blogger....:)

assalamualaikum, first of all, i would like to thank to our lecturer, Miss Ummi cause gave us this task (make your own blog). so, here we are...in my first blog...hehe:)

actually, this week is the 4th week, so i'm suppose to have 4 writing journals, but due to some problem that i had, i cannot accomplished this task within the given time....i'm really sorry miss:( mianne...

so, right now, i will share about my first lecture of Strategic Management that conducted by Miss Ummi. we had the class on tuesday, 10 september 2013. first thing that she did was explain about the course outline, which are consist of 40% from the final exam and the other 60% from the continuous assessment. so, basically, we have to put great effort during the classes to get A for this subject, and of course...I want that A:)

after that brief explanation, we had some activity, which to me was very interesting and fun. we have to build a tower using a newspapers. first thing that were cross in my head was, can we complete this task?? and how we gonna do it?

fortunately, we have cik nurul syuhada as our leader to guide us to make the tower. the main challenges during that activity was we had to think faster and also built it within the short given time  . it was really messy, but alhamdulillah...we were still able to make our tower...:) the important things that we learned from this activity are:

# we must have a good strategy first before we do something. 
# cooperation between the team members
# finding the best solution for the problem 

last but not least, i want tell to our team members ( cik nurul syuhada, cik najida, cik khairunnisa', cik waznah, cik najihah, cik sahidah, cik sakinah, cik farah, and my twin, cik nabilah ), that i'm really proud with all of you and i love our friendship.....:) lets be friends till jannah...:) 
 
oh, i'm forget to tell, that our team was the winner for the first activity in the subject Strategic Management (build a tower)....hehe. 

Feeling :
1) excited and stress - during the making of the tower
2) shock and then happy - after Miss Ummi announced the winner
3) eager and excited - cannot wait to see what happened on the next lecture 

i will end up my first writing here:)....next time i will post more...assalamualaikum