The third week of lecture...
Chapter 3
Ok.. After finished already the chapter 1 & 2, we move to chapter 3. The topic was
"Evaluating a company's external environment". What I have learnt from this topic was about PESTEL. What was pestel? Pestel was 6 principle of macro environment. Pestel stand for:
P-political factors that influence to business or economy.
E-economic conditions
S-socio cultural forces
T-technological factors
E-environmental factors
L-legal/regulatory conditions
Make sure before we run our business, doing first an industry analysis. Other than that we continued to
"FIVE FORCES". What was the five forces? The five competitive forces was competition from:
1- rival sellers
2- potential new entrants
3- producers of substitute products
4- supplier bargaining power
5- customer bargaining power
Did you know why these five forces was important? Because... These factors could tell us "how strong the industry's competitive forces are?" either the industry conducive or not.
*NPL - A loan on which the borrower is not making interest payments or repaying any principal. At what point the loan is classified as non-performing by the bank, and when it becomes bad debt, depends on local regulations. Banks normally set aside money to cover potential losses on loans (loan loss provisions) and write off bad debt in their profit and loss account. In some countries, banks that have accumulated too many NPLs are able to sell them on - at a discount - to specially established asset management companies (AMCs), which attempt to recover at least some of the money owed.
tq...:)
The second week of lecture...
CHAPTER 1
We started our learning with the first lecture which is " The nature of strategic management ". In strategic management, need for integrating and intuition. Stages that have in this chapter was formulation, implementation, and evaluation.
CHAPTER 2
The first thing is VISION and MISSION. What I understood about this topic, vision statement should be short. The question of vision was " what do we become? " and the mission statement was " what is our business? ". Further, mission had 9 components that must we make an analysis. Firstly, the customer. Of course if we want to make something management or analyse company, we must know our prior strategic. Secondly, product/services the company that they made. Thirdly, the market that we want to launch or the company itself. Next, the technology that used so that the mission successful. Other than that, concern for survival growth and profit. The ideology, explained on believe and the value. After that, self-concept, public image and lastly, the employee.
tq...:)
The first week of lecture...
Miss Ummi has approached us with a very relevant activities that related in this subject, which were strategic and management. She gave us a simple mission in given time limitation for doing " The most tallest of tower ". The activity was very fun and joyful. At the end, from this activities have given us the lessons so that we can apply it in the future. What is important in doing things in a group or organization, there must be a leader who can provide effective instruction that mission accomplished. The other lessons, need a cooperation and apply themselves in good attitude to get the results very encouraging.
P-political factors that influence to business or economy.
