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1. Define Strategic Management.

Strategic Management is all about identification and description of the
strategies that managers can carry so as to achieve better performance and a
competitive advantage for their organization. An organization is said to have
competitive advantage if its profitability is higher than the average profitability for
all companies in its industry.
Strategic management can also be defined as a bundle of decisions and
acts which a manager undertakes and which decides the result of the firms
performance. The manager must have a thorough knowledge and analysis of the
general and competitive organizational environment so as to take right decisions.
They should conduct a SWOT Analysis (Strengths, Weaknesses, Opportunities,
and Threats), i.e., they should make best possible utilization of strengths,
minimize the organizational weaknesses, make use of arising opportunities from
the business environment and shouldnt ignore the threats. Strategic
management is nothing but planning for both predictable as well as unfeasible
contingencies. It is applicable to both small as well as large organizations as
even the smallest organization face competition and, by formulating and
implementing appropriate strategies, they can attain sustainable competitive
advantage.
2. Illustrate Strategic management process. Briefly discuss.
These components are steps that are carried, in chronological order, when
creating a new strategic management plan. Present businesses that have
already created a strategic management plan will revert to these steps as per the
situations requirement, so as to make essential changes.

Components of Strategic Management Process

Strategic management process has following four steps:

1.
Environmental Scanning- Environmental scanning refers to a process of
collecting, scrutinizing and providing information for strategic purposes. It helps in

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analyzing the internal and external factors influencing an organization. After

executing the environmental analysis process, management should evaluate it
on a continuous basis and strive to improve it.
2.
Strategy Formulation- Strategy formulation is the process of deciding
best course of action for accomplishing organizational objectives and hence
achieving organizational purpose. After conducting environment scanning,
managers formulate corporate, business and functional strategies.
3.
Strategy Implementation- Strategy implementation implies making the
strategy work as intended or putting the organizations chosen strategy into
action. Strategy implementation includes designing the organizations structure,
distributing resources, developing decision making process, and managing
human resources.
4.
Strategy Evaluation- Strategy evaluation is the final step of strategy
management process. The key strategy evaluation activities are: appraising
internal and external factors that are the root of present strategies, measuring
performance, and taking remedial / corrective actions. Evaluation makes sure that
the organizational strategy as well as its implementation meets the organizational
objectives.
3. Present the mission and vision of SGV - corporate goals and corporate values.
SGV & Co. SGV Foundation Inc. Vision
The foundation envisions itself as a vehicle for social development through
conducting programs focused on the upliftment of the quality of education.
SGV & Co. SGV Foundation Inc. Mission
To realize its vision, the foundation seeks to implement programs and projects
geared towards social development through education.
SGV & Co. Corporate values
Our Values
People who demonstrate integrity, respect and teaming
People with energy, enthusiasm and the courage to lead
People who build relationships based on doing the right thing
4. Differenciate organizational goals from organizational mission.

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Organizational goal is a desired future state or objective that an organization tries

to achieve. Goals specify in particular what must be done if an organization is to
attain mission or vision. Goals make mission more prominent and concrete. They
co-ordinate and integrate various functional and departmental areas in an
organization. Well made goals have following featuresa. These are precise and measurable.
b. These look after critical and significant issues.
c. These are realistic and challenging.
d. These must be achieved within a specific time frame.
e. These include both financial as well as non-financial components.
Organizational mission
A business mission is the foundation for priorities, strategies, plans, and
work assignments. It is the starting point for the design of managerial jobs and,
above all, for the design of managerial structures.
The reason for an organizations existence. The mission statement is a
broadly defined but enduring statement of purpose that identifies the scope of an
organizations operations and its offerings to affected groups (i.e., stakeholders,
as defined later in the book).
A mission statement is typically written at the beginning stages of creating
a new company or by an existing business during a time of reassessment of
company values and direction. Mission statements are usually composed of a
clear vision for the company -- a statement about where the company sees itself
in the next five to 10 years -- coupled with a set of core values that will be
followed by everyone inside the business. Core values might include integrity,
honesty and a focus on customer service. The statement may also contain longterm goals the company wishes to achieve, such as feeding a particular sector of
society every week or becoming the top supplier to a particular industry. Many
companies require employees to agree to the company mission statement when
completing the hiring process.
5. Define corporate values (give 5 common corporate values).
Core values are the fundamental beliefs of a person or organization. The core
values are the guiding principles that dictate behavior and action. Core values can
help people to know what is right from wrong; they can help companies to

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determine if they are on the right path and fulfilling their business goals; and they
create an unwavering and unchanging guide. There are many different types of
core values and many different examples of core values depending upon the
context. Core values are what support the vision, shape the culture and reflect
what the company values. They are the essence of the companys identity the
principles, beliefs or philosophy of values.
Five common corporate values
1. Teamwork
Listening to and respecting each other whilst working together to achieve mutually
beneficial results.

When we are unsure we check with others as to what they meant.

Everyone has strengths which we value and will use whenever possible.
All team meetings will include a progress report from everyone and
requests for help when needed.
2. Honesty
Being open and honest in all our dealings and maintaining the highest integrity at
all times
All concerns are aired constructively with solutions offered.

Each person is as skilled in some way as another and is entitled to express

their views without interruption.
3. Excellence
Always doing what we say we will and striving for excellence and quality in
everything we do.
Quality will always delight the client whilst staying within budget limitations.
If we give our word we keep it unless agreed otherwise by all parties.
4. Recognition
Recognising and rewarding each others contributions and efforts.
All individual successes are celebrated within the team.
Assistance is thanked every time.
5. Professionalism
At all times we act with integrity, providing quality service, being reliable and
responsible.
We do not upset one another intentionally, always endeavouring to present
negative feedback constructively.

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We take pride and ownership in all that we do and say.

We never talk about people behind their backs.