Strategic Management Lesson 1

Derived from the Greek word "strategos," referring to planning to compete against enemies.
Involves long-term planning, typically spanning 5-10 years.
Differentiates between strategies (long-term) and tactics (short-term).
Focuses on the art and science of formulating and evaluating actions to achieve organizational objectives.

Plan: Develop a concrete plan aimed at achieving success.
Ploy: Tactics designed to outsmart competitors to become a market leader, defined as the entity with the highest market share.
Pattern: Identify consistent behaviors that attract attention, such as limited editions or seasonal sales.
Position: Understanding the organization's standing in the market, encompassing both business reputation and physical location.
Perspective: Considering the viewpoints of stakeholders, including their mindset and predictions regarding future trends.

Competitive Advantage: Fosters healthy competition and can enhance market share.
Achieving Goals: Facilitates the accomplishment of strategic objectives.
Sustainable Growth: Provides a realistic framework for tracking progress towards long-term targets.
Cohesive Organization: Promotes unity and coordinated efforts within the organization.
Increased Managerial Awareness: Encourages leaders to focus on the company’s long-term future.

Feasibility: Involves studying the potential for creating a new business.
Strategic Management: Focuses on analyzing and enhancing existing businesses.

Identifying Direction: Establishing a clear mission, vision, goals, and objectives.
Analyzing Resources:
- Internal Factors: Assessing internal strengths and weaknesses that the organization can control.
- External Factors: Identifying external opportunities and threats that are uncontrollable by the organization.
Forming Strategies: Create strategies based on analytical frameworks like SWOT (Strengths, Weaknesses, Opportunities, Threats) and PESTEL (Political, Economic, Social, Technological, Environmental, Legal).
Implementing Strategies: Actioning the developed plan to execute strategic initiatives.
Evaluating Strategies: Assessing the effectiveness of implemented strategies to ensure alignment with objectives.

A concept defined by a cluster of economic and political frameworks shaped by international political economy interests.
Globality represents a future social condition marked by dense economic and cultural connections, rendering political borders and economic barriers irrelevant.

Cultural Globalization: Adoption of foreign cultures, exemplified by Westernized practices and cuisine such as samgyupsal.
Economic Globalization: Focus on the trade of goods and services, illustrated by trends like dropshipping and overseas Filipino workers (OFWs).
Political Globalization: Strengthened relationships between countries, as seen through organizations like ASEAN (Association of Southeast Asian Nations).
Technological Globalization: Emphasis on advanced technology that facilitates communication and information transmission, exemplified by the internet.
Financial Globalization: Growing use of digital financial services, including platforms like GCash, e-wallets, and PayMaya.