Khena B.

Aguirre September 12,2020

BSA-3B Prof. Deobela Fortes

STRATEGIC MANAGEMENT AND STANDARDS

Assesment Task 1
1. How important do you feel “being adept at adapting” is for business firm? Explain
“Being adept at adapting” is somewhat capable on adjusting from a situation you are not
used to. In business this characteristic is very important for number of reasons. Adapting sudden
changes of events and trends is essential for survival of business firms. The more you can adapt
to changing circumstances, the more productive you’ll be overall. This will help them meet
customers demand resulting to an increase in profit.
2. Compare the opossum and turtle to the woolly mammoth and saber-toothed tiger in terms of
being adept at adapting. What can we learn from the opossum and turtle?
The opossum and turtle live on earth for million of years because they can adapt well to
the timely changes of environment. While the woolly mammoth and saber-toothed tiger extinct
due to “trophic cascade” of ecosystem disruption because they can’t adapt with the
environment. This brought me a conclusion that being adept at adapting is a means of survival
just like opossum and turtle did. For us to live a long life we must learn to adjust and adapt
changes.
3. Edward Deming, a famous businessman once said, “In God we trust. All others bring data”.
What did Deming mean in terms of developing a strategic plan.
The quote above, made by Edward Deming, refers mainly to the importance of data
measurement and analysis on making strategic decision grounds. You need to collect
scientific facts and figure out surveys and research to get an accurate data in regarding the
organization. All other aspect of our life and every decision we make, must be backed up by
careful and diligent collected data in some coherent and meaningful way. Because this is
our solid foundation to gain more profit and to solve upcoming problems we may encounter
along the way.

Assessment Task 2
1. Peter Drucker says the most important time to seriously reexamine the firm’s
vision/mission is when the firm is very successful. Defend this statement
 I strongly agree with Peter Drucker statement because when success is achieved, the way
it was achieved is often forgotten. Moreover, reexamining the vision and mission when the
firm is successful is most necessary to assess whether it still works for the firm. Shift happen
all the time in business that’s why revisiting mission and vision is essential to keep us on
track. If the firm does not reexamine the success of the firm will turn into failure.
2. Compare and contrast vision statements with mission statements in terms of composition
and importance.
Vision statement pertains to where the company or organization hopes they will be going in
the future as a result of specific action. It’s a forward thinking statement that should be fulfilled.
It answers the question “What do we want to become?” Whereas the mission statement answers
the question “What is our business?” and describe the overall purpose of an organization. A clear
mission statement is essential for effectively establishing objectives and formulating strategies. It
also reveals what an organization wants to be and whom it wants to serve.
3. Draft your own Vision- Mission Statement in Life
Mission
To constantly build the best version of myself -in my studies, health and fitness,
relationship with my family, friends, most especially to God. And also to help people those
who are in need in the best way I can.

Vision
To become a Certified Public Accountant where my potential as an individual will be
utilized and developed to the fullest, allowing me to be the asset in the company where I am
going to be part.