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    Prelim Exam Strat MGT TTH Class 1

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    Jayvee Seblos
    Strategic management is the method an organization uses to prepare for, conduct, track, review and evaluate everything needed to achieve its goals. It is important because it plays a key role in long-term success. Strategic planning is more important for unstable businesses as it helps determine how to grow by developing new products and expanding into new markets. Managers need to study the business environment in strategic management because they are responsible for business transactions and having this understanding helps the business be successful. The external business environment involves economic, political, legal, demographic, social, competitive and technical factors, while the internal environment focuses on factors within the organization. Social factors can affect acceptance of new technologies like e-commerce. Technology also impacts the environment

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    Prelim Exam Strat MGT TTH Class 1

    Uploaded by

    Jayvee Seblos
    35 views2 pages
    Strategic management is the method an organization uses to prepare for, conduct, track, review and evaluate everything needed to achieve its goals. It is important because it plays a key role in long-term success. Strategic planning is more important for unstable businesses as it helps determine how to grow by developing new products and expanding into new markets. Managers need to study the business environment in strategic management because they are responsible for business transactions and having this understanding helps the business be successful. The external business environment involves economic, political, legal, demographic, social, competitive and technical factors, while the internal environment focuses on factors within the organization. Social factors can affect acceptance of new technologies like e-commerce. Technology also impacts the environment

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    Strategic management is the method an organization uses to prepare for, conduct, track, review and evaluate everything needed to achieve its goals. It is important because it plays a key role in long-term success. Strategic planning is more important for unstable businesses as it helps determine how to grow by developing new products and expanding into new markets. Managers need to study the business environment in strategic management because they are responsible for business transactions and having this understanding helps the business be successful. The external business environment involves economic, political, legal, demographic, social, competitive and technical factors, while the internal environment focuses on factors within the organization. Social factors can affect acceptance of new technologies like e-commerce. Technology also impacts the environment

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    © All Rights Reserved
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    Download as docx, pdf, or txt
    35 views2 pages

    Prelim Exam Strat MGT TTH Class 1

    Uploaded by

    Jayvee Seblos
    Strategic management is the method an organization uses to prepare for, conduct, track, review and evaluate everything needed to achieve its goals. It is important because it plays a key role in long-term success. Strategic planning is more important for unstable businesses as it helps determine how to grow by developing new products and expanding into new markets. Managers need to study the business environment in strategic management because they are responsible for business transactions and having this understanding helps the business be successful. The external business environment involves economic, political, legal, demographic, social, competitive and technical factors, while the internal environment focuses on factors within the organization. Social factors can affect acceptance of new technologies like e-commerce. Technology also impacts the environment

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    © All Rights Reserved
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    Download as docx, pdf, or txt
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    Gensantos Foundation College, Inc

    Strategic Management
    Prelim Examination
    March 2021

    Name: Jenny Mae L. Seblos Schedule: TTH 12:30-2PM


    Course and Year: BSBA in Marketing Management Professor: Jason Mark Lim, MBA
    3rd Year
    Part I. Essay
    1. What is strategic management? Why is it important?
    For me, strategic management is the method of an organization's that can
    be used for continuous preparing, conducting, tracking, reviewing, and evaluating
    anything required to achieve its goals and objectives in order to pursue a
    potential path. This includes the decisions and behavior that influence an
    organization's long-term success. It is very important because the role it plays in
    firm success have been the focus of extensive research and analysis. Also it is
    important to planning or structuring a structure entails a great deal of issue and
    asset assessment and asset utilization performance, all while trying to achieve a
    major goal of businesses.

    2. Why is strategic planning more important to unstable businesses? Give an


    example.
    I believe strategic is more important especially for those unstable
    businesses to better known what strategy to be used for making the business still
    exist. Strategic plan will determine how you grow your business as you develop
    new products to expand operations and move into new market areas, in that way
    strategic planning can helped to solve organizational problem.
    Example: Product pricing, need to maintain a target margin for generating
    demand in a business daily sales, launch regular prize and give giveaways to
    your loyal customers and retail partners.

    3. Why do managers need to study the business environment in strategic


    management?
    For me, it’s important in a manager to study the business environment
    because they are responsible in any business transaction and it is important to a
    person who can manage all problems. If the managers study business
    environment in strategic management they have an ability to make the business
    to be successful.
    Gensantos Foundation College, Inc
    Strategic Management
    Prelim Examination
    March 2021

    4. Differentiate the external business environment from the internal business


    environment.
    In my own understanding external business environment are involves
    conomic, political, and legal sectors, as well as demographic, social, competitive,
    global, and technical sectors.

    5. How do social factors affect the business environment?


    I think social factors can affect business environment in the acceptance of the
    internet as a means of doing business.

    6. Give an example on how technology affects the business environment.


    Calculation speed and power on a computer.
    Computers' capacity to generate completely 'random' numbers.

    -end-

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