Practice/Takeaway Journal

Name:

Tutor:

Course:

Date:

Practice/Takeaway Journal

Some of the new concepts learnt that are interesting include strategic management, planning, organizing, actuation, control, coordination and communication. They all form an integral part of management, since they provide managers with effective steps to enable the alignment of organizational resources to achieve strategic goals. I find that strategic management envelopes all aspects of management given that it amounts to the development of formulas in alignment with resources, the internal and external environment of an organization to achieve a common goal.

Strategic management can be applied in a personal or organizational capacity based on the need. Individually, it provides me with the ability to understand the importance of results of an activity such as study or work. With the end in mind, one is able to develop adequate strategies through planning, coordination and control to achieve objectives. In addition, it provides me with an opportunity to assess my individual capabilities with respect to my status and the goals and objectives I would want to achieve in the future. This involves asking myself the 5Ws and 1H, Why, What, Who, Where, When, and How. These provide succinct steps to evaluate my individual abilities, immediate status, the means to achieve objectives, the anticipated results, the period to achieve such ambitions, and the means to be used.

This is also applicable to the modern organization given that it enables entities to understand their strengths, weaknesses, opportunities, and threats in their internal and external environments. It also details how such can enable an entity to achieve its long and short-term strategic goals and objectives. I think that strategic management is interesting, in that it provides individuals and organizations with elaborate steps to outline their goals and the resources that are needed to achieve such within a specified timeframe.