Chapter 5: Generic Strategic

Salam friends..and happy eid adha! :D may all of us in a bless of Allah.

Alhamdulillah we can still meet in our next chapter for Strategic Management. For this chapter, I have learned on the topic of Generic Strategic. Generally, this topic discussing on how a firm able to maintain a strategic planned in order to compete with other rivals and improve their competitive performance. Under this topic, there are five categories where they are:

1) Low-cost provider
2) Broad differentiation
3) Focused low-cost
4) Focused differentiation
5) Best-cost provider

Those categories have their own way that can be used by the firm to compete and keep sustain with their rivals. I will choose Facebook as my example for Best-cost provider.

As we know, Facebook is a one of the famous places for people to meet friends and enjoy their online shopping. People eager to buy through online as they will have a lot of advantages. Facebook also is a place where we can meet a lot of product with different seller, prices and quality. Facebook falls under the category of Best-cost provider which is this category is a combination of low-cost providers and high-end differentiation. This category also known as hybrid approach.

Facebook rivals may be other online shopping website. However, most of this website will have their Facebook account as it is one of the best medium to attract their customer. Besides that, there are various type of product sells in the Facebook such as clothing, accessories, phone accessories, shoes, present and many more. All the price of the product are affordable and the quality of the product are comparable with the product at the shop.

Thus, in conclusion Facebook has provide a differentiation where it able to provide a desired places, product, and services to the user to have their online business. Facebook also provide a lower cost @ no cost to the user who open their page for promoting their product. In my opinion, Facebook is a great place for us to have online shopping as there is no other social network that provide two in one services (friendship and business).

Thats all for today.
Hope to see you in my next post.
Thank you.
Wassalam.. :)

Chapter 4: Evaluating a Company’s Resources, Capabilities and Competitiveness

Salam. Hye friends! :D

In my previous post, I have shared with you on what I have learned in the class for topic 3. Now, let’s we move on to the topic 4 which is covered on Evaluating a Company’s Resources, Capabilities and Competitiveness.  What is actually all this words meaning?

Resources: any raw material used by the company, asset, man power, machine, etc

Capabilities: how the organization and the business utilize the resources

Competitive: being better other than rival

On this chapter, I also learned on SWOT analysis as well as TOW’S Matrix. This analysis is use to know the strength and the weakness of the company to make it sustain and able to compete with other rivals. In my own thought, this analysis also can be used in any other field that we want to analyze. Even in analyzing ourselves, it is also suitable for us to use SWOT analysis.  From that, we will know our strength, weaknesses, opportunity and any threat towards ourselves. In short, an improvement can be made to overcome the weaknesses and the opportunity can be taken as chances to change ourselves to become a great person.  :D

I think that’s all for today. Till meet you again on my next post. 

Wassalam. J

3rd week of classes: Evaluating Company’s External Environment

Salam. Hye friends! How are you? 

As the time move faster, now we are already in week four for this semester. So now, I will share with you what I have learned in the class of Strategic Management for last week as well as for this week on my next post. For this topic (topic 3), we have covered on Evaluating Company’s External Environment. In this topic I learned various ways in evaluating a company external environment.

  Here are the lists on the way to analyze and evaluate company’s external environment.

1.       PESTEL analysis

2.       Five Competitive Forces

3.       Strategic Group Mapping

4.       Key Success Factors

In each method used, there will have certain things to be focused on. For example, in PESTEL analysis there are 6 elements that will help us in evaluating company’s external environment. There are:

-         - Political factor, economic condition, socio cultural factors, technological factors, environmental forces and legal and regulatory factors.

-For Five Competitive Forces, here are the things that will be focused on:

-          Buyers, suppliers, new entrants, rivals and substitute product.

As I mentioned before, each method used to analyze the external environment will focused on certain things. However, most of the methods are almost similar. Last but not least, all the methods above are used by the company and the organization to know how it will effect to the business. It is also a good analysis for the company to have their own strategic planning to keep sustain in the industry as well as to keep their business successful.

That's all for this topic. Thank you guys for your time. :)

Wassalam.