Republic of the Philippines

DON HONORIO VENTURA STATE UNIVERSITY

Villa de Bacolor, Pampanga

CBME – STRATEGIC MANAGEMENT

PANGAN, LENARD V.
BSA 2-F

ACTIVITY 1:

If you were given the chance to have your own business, what kind of business would it be and why?

If I were given a chance to have my own business, I’ll choose to create a Coffee Shop.
The coffee industry has consistently grown and thrived, with a diverse consumer base and a
wide range of goods that may be offered to the consumers. The coffee industry promotes
community and social contact, allowing you to create a welcoming environment for people to
gather and relax as they do their personal work while enjoying their preferred coffee. A well-
managed coffee business can earn regular income from in-store purchases as well as possible
online orders. Having a chance to have a coffee shop could help me cultivate a distinct
corporate identity while also satisfying my customers with a daily source of comfort and energy.

In your opinion, why do you think it is necessary to do strategic management of your business.

In my opinion, strategic management plays a very vital role in defining the success in a
business. It helps to efficiently solve different crisIs that my business might face as it starts
operating. It is also a form of guidance in achieving goals and objectives to ensure the success of
my business. Strategic management also helps in identifying my competitive advantage as it
allows my business to adapt and stay ahead in every change in the market. Overall, having an
edge in successful strategic management will enhance my business firm foundation in facing
different adversaries that I might face as it will serve as my map to success.