assignment of week 2

1.       In   your own words and using referenced quotes describe what “strategic management” is?

The successful  management of a  business depends on having  a  successful business strategy.  Strategy  usually includes  planning to achieve a better  performance than competitor. It is a long term  plan of various businesses that  intend to  reach some preferred state in future by changing its competitive position to meet changing  circumstances . so basically strategic  management  can  affect the future of the organisation.

2.       How is business strategy similar to military strategy? How  is it different?

The word strategy is derived from Greek  word “strategos”. Stratos   means to lead and “Agein” means to  follow. So if we look into the past the main root of strategy is military. As in military there is complexity in making decisions. The business strategy is some what similar to  military strategy  because some of the definitions clearly state that; Strategy is art of war. It is the process of thinking of being one step ahead of your enemy or not letting your enemy win;  in business also it is  the same as every organisations are focused in coming up with new ideas and being one step ahead of the other one so that they can survive in the competitive market. That doesn't   mean  we can completely regard business strategy similar to military  strategy because  business strategy should have a definite policy, it has to be theoretical and based on research and development  proper action plan.  There are three levels off strategy they are corporate level strategy,  business level strategy and  operational level strategy a business  strategy should definitely have a visionary and a meaningful statement.

3.       What do  you understand by the  terms  “Strategic analysis”, “strategic development”, and “strategic implementation”.

Strategic analysis: is about understanding the environment,  its is more about research and have  a certain vision to  work on.

Strategic development: it is about formulating and implementing the research you have done previously, having certain  tactics and goals but before implementing them you should ask to  yourself WHAT is the outcome  from it.

Strategic implementations: it is basically about the operations how are you going to do it, what processes you need to follow, get the resources ready.

4.       Write about your experience with today’s  case study. What answers did you give?  Was it easy to answer  the questions ?  Did your group agree with each other.

Today's case study was about the development of three states in England those are Milton  Keynes,  Peterborough  and Swindon. According to the data these states are developing in a fast pace .

Yes it was easy to  give  answers to the questions.  Not really everyone had their  own views for the  answers.