Download Management Reflection Paper and more Exercises Management Theory in PDF only on Docsity! Mc Neill A. Sabid MNGT 4121 BSMA 3-2 Write your insights on the following questions below to help you in constructing your thoughts. 1. Strategic management is all about gaining and maintaining competitive advantage. Explain whether you agree or disagree with the help of examples. As defined by the videos on the previous materials posted as for the articles as well, I therefore agree with that strategic management is all about gaining and maintaining competitive advantage. Why? Simply because with the help of strategic management which mainly focuses on strategy and management both, one becomes aware of the environment and on how he can become competitive towards different things and factors of that specific environment not only to avoid errors, unexpected problems, threats, but also to achieve the goals and objectives of an organization, and to become competitive enough bringing out the maximum output in the most efficient way. Being creative, always looking for the window of opportunity, minimizing negative stuff such as weakness, eradicating the threats, solving the obstacles, and always thinking outside the box. That is how strategic management works, 2. Select on industry or business that is benefiting from the lockdown caused by the COVID19 pandemic. Explain how/why they are still flourishing despite the current uncertainty in the market. To be quite specific, industry or business that are benefitting until now and even grows more are online business or online selling platform such as Shopee and Lazada. Why? Simply because there are many benefits of doing online shopping instead of visiting or going to a physical store. One is gasoline or travel expense, travelling certain distances also requires time and human work force- in short there are three things wasted: time, money, and energy. Did I forgot to mention the health risk that you can get from going to different places? Risking your own safety and health over some material stuff seems not worth it otherwise, engaging to online shopping is more cost efficient, and imagine going door to door delivery, and they even offer free shipping vouchers at times. There’s a lot indeed to consider. Another one is the price of the things we buy from online platforms. They do not have the same value or prize as for ones on the malls or physical stores. Why? Simply because there is no added value or tax from the certain establishment selling the item. You are directly purchasing from the company or the official store so what you will only about is the shipping fee or the delivery expense. Imagine how more could you save when you purchase online instead of physical store.
