chapter 3..evaluating a company’s external environment

Assalamualaikum...:)

After finished the chapter 1 and 2, we go to explore the chapter 3, 
It is  about the evaluating a company’s external environment. This topics are discuss 
about the PESTEL and the Porter's Five - Forces .

What the PESTEL ANALYSIS?? 
 PESTEL analysis focuses on the six principal components of strategic significance in the 
macro-environment.Pestel means that:

P-political factors that influence to business or economy.
E-economic conditions
S-socio cultural forces
T-technological factors
E-environmental factorsL-legal/regulatory conditions 

The macro-environment encompasses the broad environmental context in which a company’s industry is situated that includes strategically relevant components over which the firm has no direct control. 

What the Porter Five Forces Analysis. Its means that The five competitive forces was competition from:

1- rival sellers
2- potential new entrants
3- producers of substitute products
4- supplier bargaining power
5- customer bargaining power

chapter 1 : definition of strategic management

assalamualaikum everyone..
for first chapter in lectere startegic management we learn  about the????
of course in first chapter we learn about the definition strategic management
and strategic management process

Strategic management is used synonymously with the term strategic planning.
Sometimes the term strategic management is used to refer to strategy formulation,
implementation, and evaluation, with strategic planning referring planning referring
only to strategy formulation. A strategic plan results from tough managerial choices
among numerous good alternatives, and signals commitment to specific market,
policies, procedures, and operations.

There are three stage of strategic management:
    1* strategy formulation
    2* strategy implementation
    3* Strategy evaluation

Strategy formulation 
   includes developing a vision and mission, identifiying an organizations externel opportunities
and threats, determining internal strentghs and weaknesses, establishing long-term objectives,
generating alternatives strategies, and choosing particular strategies to purse

Strategy implementation
   Requires a firm to establish annual objectives, devise policies, motivate employee, and
allocate resources so that formulate strategies can be executed and often called
action stage.

Strategy evaluation
   reviewing external and internal factors that are the bases for current strategies, measuring
performance, and taking corrective action

My First Blog

Assalamualaikum... Syukur Alhamdulillah... 

Finally, im already has my first blog....

Actually, im created this blog for my individual task 

in strategic management MGB 4013 under the guidance 

and my lovely lecturer DR. UMMI SALWA AHMAD BUSTAMAM.

Thanks to miss Ummi because with my blog i can share everything about 

strategic management or business. Im love business and im actually born 

from family business. Before late, im Ahmad Abid bin Sarbini from TMA 3 and 

im hope my blog businesscolour can make business very interested with 

colourfull result and success.