Name: Sotto, Christine Louise

BS Tourism 1A
STRAMA

What is Strategic Analysis?

 Strategic analysis is essential to formulate strategic planning for decision-making and
the smooth working of an organization. It involves researching an organization's
business environment within which it operates. With the help of strategic planning, the
objectives or goals that are set by the organization can be fulfilled.

Why do we need learn Strategic Analysis?

 Strategic analysis is an important tool for business leaders to use to assess the
environment and identify opportunities and threats that need to be considered in a
company's strategic decision-making process. It can provide valuable information about
the evaluation and development of the environment inside and outside the company.

Definition and Processes of Strategic Management

 Strategic management can be either prescriptive or descriptive - it is the setting up and
implementation of a company's strategic plans for the future. It involves reviewing the
organization's internal structure, evaluating current strategies, and confirming that
strategies are implemented company-wide.

Strategic Management Process

Analysis of the organization's internal and external environments as well as its strategic
goals (vision, mission, and strategic objectives) are all part of strategic management.
Decision making is the process of making choices by identifying a decision, gathering
information, and assessing alternative resolutions.
Actions it implements strategy to requires leaders to give us a clear guide to success it
helps prioritize goals, maximize resources, and make better decisions, increasing our
organization effectiveness.
Second, the essence of strategic management is to determine how a firm is to compete so that
it can obtain advantages that are sustainable over a long period of time.
1. How should we complete in order to create competitive advantage in the marketplace?
Managers must choose between being a low-cost producer and creating
goods and services that allow them to adjust prices.

2. How can we create competitive advantages in the market place that are unique,
valuable, and difficult for rivals to copy or substitute? That is, managers need to make
such advantages sustainable, instead of temporary.
 Operational effectiveness by itself cannot produce a sustainable
competitive advantage. Operational effectiveness is at the heart of the
widely adopted management innovations of the previous two decades.

What is Operational Effectiveness?

Achieving operational efficiency is key to generating an advantage over competitors,
and it also increases the number of products you have available for customers. Operational
efficiency is not a strategy that an organization uses, rather, it's the process of achieving
business strategies effectively.

Intended versus Realized Strategy.

Mintzberge argues that viewing the strategic management process as one in which
analysis is followed by optimal decisions does not accurately describe the process. He sees the
business environment as far from predictable, thus limiting our ability for analysis. Further,
decisions are seldom based on optimal rationality alone, given the political processes that occur
in all organizations. Unforeseen environmental developments, unanticipated resource
constraints or managerial preferences may result in some parts of the intended strategy
remaining unrealized.

Consider an important trend affecting law firms.

If the companies spent an estimated $41 billion on their internal lawyers in 2017, a 22
percent increase since 2014. 63 percent of respondents are now "in-sourcing" legal work they
used to send out to law firms. Many large firms have been forced to move away from
commodity practices to more specialized areas.
Exhibit 1.2 INTENDED, EMERGENT & REALIZED STRATEGIES.

 Realized Strategy
 The Strategy that an organization actually follows. They
are a product of both intended and realized
 Emergent Strategy
 Unplanned strategy that arises in response to unexpected
opportunities and challenges
 Deliberate Strategy
 The parts of the intended strategy that an organization
continues to pursue over time
 Intended Strategy
 Strategy that an organization hopes to execute
 Unrealized Strategy
 The abandoned parts of the intended strategy or the result
of a strategy implemented that did not succeed.