Mgt 490 - Memo

MGT 490C-Memo

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“Interesting materials for Key Takeaway”: When we begin to learn the strategic management, we need to know what it is. Strategic management has been a core concern and value for modern business, and it can analyze how the top managers, films and industries’ actions influence a company’s success or failure. And strategic management includes the organization’s mission, vision and developing program. After I read the chapter, I think there are some interesting materials in this chapter. On the one hand, the most interesting information of strategic management is the 5 Ps of strategy. Based on the theory, strategy can be viewed as a plan, as a ploy, as a position, as a pattern and as a perspective. The 5 Ps of strategy can help us understand the meaning of strategic management.

        On the other hand, when an organization wants to make a strategic plan, there is another interesting thing they need to concern. The first strategy an organization should make is intended strategy; it represents the organization’s direction and goal. However, the situation and external environment of the organization will be changed in the future, so the organization should add some emergent strategies to its original intended strategy, and then the realized strategy will be got. In other word, realized strategy is a product of intended and emergent strategies.

        In addition, ancient history and military strategy can help people understand the strategic management. For example, Sun Tzu said that winning a battle without fighting is the best way to win. It is a very useful and interesting idea; some companies can use the idea if they do a business negotiation.