Logbook StrategicManagementThe completed logbook must be sent in together withthe assignment for Strategic Management.
The assignment will only be forwardedfor marking once the corresponding logbook has been received. To be completed by the student:Name Student: KWABENA ADUSEI SARPONG E-mail address: [email protected] date: 25/01/2018 A well maintained Logbookserves the following main purposes: · A personal guideline throughout your studies· A means for reflection on your learning experiences – during your selfstudy of the preparation, attendance during the plenary session and whileworking on your assignment· A basis for the Phase 3 assignment Evaluative Assessment of ManagerialLearning· A tool for BSN to monitor your individual studies and preparations This template is divided in threesections.
· Section1: Workshop preparations· Section2: Workshop participation· Section 3: Writing process of concluding assignment for SMSection 1 refers to the preparationfor each of the eight workshop-topic of the Strategy course. Section 2 applies to your learning experiences duringthe workshop (the plenary session). In contrast to your notes in logbooksection 1, these do not necessarily need to be specified in line with the eighttopics and may be described in a generic fashion.
But if deemed moreappropriate you are obviously free to class them according to the varioussubjects nonetheless. Section 3 serves to reflect onyour learning experiences while writing your concluding assignment. BSN acknowledges that certain aspects,such as your personal experience in relation to the topic, applicability toyour organisation and additional research may not always be relevant to allworkshop-topics.Logbook section 1: Workshop preparation StrategicObjectives – Workshop 1: History of strategy1. What did you learn from the literature?a. The article(s)From the perspective of other strategy scholars, Iunderstood that strategy is a series of plans which are carefully orchestratedto increase the competitiveness of a business in a particular market in whichit operates. b. Sections from the book(s) According to the book,strategy incorporates three elements namely; long term, direction andorganization.
Best services for writing your paper according to Trustpilot
Long term since it has adefinite duration measured in years, direction because it contains a series of rationalpatterns which are measured over time and organizations which involve groups ofwell-structured people who are managed and have a collective agenda ofachieving a particular goal(s). c. Additional literature frompersonal research Having an idea of thedirection in which an organization intends to take gives them an idea of thekind of resources and capabilities they require to achieve their setobjectives/goals. Strategy is a vehicle which facilitates decision makingwithin an organization.
2. What are your ownexperiences in relation to this topic? A historicalanalysis of strategic planning and its implementation within an organization. 3. What are the opportunitiesfor application / integration in your own working environment of this topic? A clearunderstanding of my organizations strategic vision, mission and goals in orderto guide me in achieving the objectives it has set for itself. 4. What did you learn from theforum discussions (fellow students / learning coach)?Fromthe forum discussions, I understood business strategy from the standpoint ofvarious students in different industries coupled with their understanding oftheir organizations visions, missions and goals.
5. Describe any other learningrelevant to this topic. A business strategyclearly defines an organizations vision, mission and direction in order to helpmanagement and employees not to lose sight of the organizations goals and aligntheir vision with that of the organization. StrategicObjectives – Workshop 2: Strategic Intent1. What did you learn from the literature?a.
The article(s) One of the greatest ways acompany can achieve success in its chosen domain is by deploying a strategicplan. A strategic plan helps in planning by helping management track theprogress of the company against established benchmarks to determine gaps in their performance and how they can bebridged. b. Sections from the book(s) Strategy provides a clear and distinct sense ofdirection for an organization and how it intends to achieve that including detailed action plansand individuals responsible for each action. c. Additional literature frompersonal research Strategy helps in resourcedeployment because organizations have finite resources. Strategy is aboutmaking the right choices which has a positive impact on the fortunes of theorganization.
Therefore, an organization might decide to strategically decide whereto invest funds or which products or service they should implement currently toyield dividends in the future. 2. What are your ownexperiences in relation to this topic? I have a greaterinsight into the significance of strategy within an organization and personally it has helped me in developing astrategic plan for my personal development. 3. What are the opportunitiesfor application / integration in your own working environment of this topic? Ihave incorporated the aspect of goals in strategic planning in my day to dayactivities at work by breaking larger formidable tasks into smaller tasks orgoals to make them easier to tackle.
4. What did you learn from theforum discussions (fellow students / learning coach)?Based on discussion with various students andlearning coaches, I have learnt that most importantly, strategic planningprovides a sense of direction for an organization.It also helps in decision making by aligning andallocating resources to the right places in order to yield the best dividends.
5. Describe any other learningrelevant to this topic. Based on thediscussion, I have learnt to develop a personal performance audit of myself inorder to determine my strengths and weaknesses. An assessment will help mereinforce my strengths and improve my weaknesses to determine which area of mylife and work I perform well. This will enable me attain some kind ofexcellence based on my strengths.
StrategicOptions – Workshop 3: Strategy and Environment1. What did you learn from the literature?a. The article(s) The environment createsopportunities and threats and since organizations belong to the environment,they need to adapt to changes within it and develop mechanisms to survive init. b. Sections from the book(s) The PESTEL analysis is aframework used by marketers to monitor the key drivers and external factorswhich impact an organization and comprises; political, economic, social, technological,environmental and legal factors. 2.
What are your ownexperiences in relation to this topic? PESTELanalysis is a tool which helps in decision making by assessing the risks thatbusinesses are likely to face in particular environments and taking decisionsto mitigate or avoid them. 3. What are the opportunitiesfor application / integration in your own working environment of this topic?N/A 4. What did you learn from theforum discussions (fellow students / learning coach)?From the forum discussions with the learningcoach and fellow students, I was able to understand the external factors ordrivers impacting the various industries students worked and their suggestionson how their organizations could have a competitive advantage over those risksdescribed. 5. Describe any other learningrelevant to this topic.
N/A StrategicOptions – Workshop 4: Strategic Planning1. What did you learn from the literature?a. The article(s) Strategic planning is amethodical approach used to develop an organizations strategy. b. Sections from the book(s) Strategic planning is asystematic procedure used to develop an organizations strategy.
Strategicplanning begins by defining an organizations vision, mission andobjectives/goals. c. Additional literature frompersonal research In strategic planning, an organization defines itslong term direction or strategy, transforms it into goals and objectives and deploysresources to enable them meet their strategy. 2. What are your ownexperiences in relation to this topic? Strategicplanning is useful in evaluating the progress an organization has made againstcertain established benchmarks to determine if progress has been made thereby indicatinggaps in performances and bridging those gaps when appropriate. 3.
What are the opportunitiesfor application / integration in your own working environment of this topic? Acritical aspect of strategic planning is reviewing actual performance againstexpected performance. When given targets to meet in my line of duty, I willdevelop a strategic plan which keeps track of my actual performance against theexpected target. 4. What did you learn from theforum discussions (fellow students / learning coach)? One of the greatest ways an organization canachieve success in its domain is by implementing a strategic plan. 5. Describe any other learningrelevant to this topic. Strategicplanning impacts the performance of an organization by keeping track of theactivities which need to be undertaken and their various timelines, externaland internal factors, scenarios and the desired outcomes. StrategySelection – Workshop 5: Bridging the Leadership Gap1.
What did you learn from the literature?a. The article(s) N/A b. Sections from the book(s) N/A c. Additional literature frompersonal research N/A 2. What are your ownexperiences in relation to this topic? N/A 3. What are the opportunitiesfor application / integration in your own working environment of this topic? N/A 4. What did you learn from theforum discussions (fellow students / learning coach)? N/A 5. Describe any other learningrelevant to this topic.
N/A StrategySelection – Workshop 6: Decision-making1. What did you learn from the literature?a. The article(s) Decision making is the procedure of choosing betweenone or more choices of action. b. Sections from the book(s) Decision making is critical to problem solving as itoffers one the possibility of choosing between alternative solutions to aproblem.
c. Additional literature frompersonal research Decision makingmay take place within an individual or organizational level and is influencedby the culture and structure of the organization. 2.
What are your ownexperiences in relation to this topic? Effective decisionmaking can be made by analysing the pros and cons of the options available toyou, decide which options has a weightier advantage, determine the outcome ofeach option and decide on the most appropriate option to take. 3. What are the opportunitiesfor application / integration in your own working environment of this topic? I have learnt howto make decisions quickly and expeditiously by gathering enough data on theoptions available. 4. What did you learn from theforum discussions (fellow students / learning coach)? Through forumdiscussions, I have learnt that effective decision making can be prevented byhaving very little or too much information, emotional or no emotional attachment.
5. Describe any other learningrelevant to this topic. One of the ways ofmaking informed decisions is by gathering data required for the decision andperforming an analysis of the data to determine which information is essentialto you. StrategyImplementation – Workshop 7: Learning from Failure1.
What did you learn from the literature?a. The article(s) One of the ways organizationscan improve future performance is to learn from their past failures. b. Sections from the book(s) N/A c. Additional literature frompersonal research Failures fall into three categories:preventable ones, unavoidable ones in complex systems, which may arise as aresult of combinations of needs, people, and problems; and intelligent ones atthe frontier, where “good” failures occur quickly and on a smallscale, providing the most valuable information.
2. What are your ownexperiences in relation to this topic? Being accountable for onesmistakes instead of blaming it on external circumstances makes it easier for aperson to learn from past failures. 3. What are the opportunitiesfor application / integration in your own working environment of this topic? Analysing the keycauses of failure is one of the important ways of improving ones response to asituation which resulted in failure. 4. What did you learn from theforum discussions (fellow students / learning coach)? Oneof the great lessons we can derive from failure is experience which helps usdevelop a better insight into the reasons for failure.
5. Describe any other learningrelevant to this topic. N/A StrategyImplementation – Workshop 8: Ethics and Dilemmas1. What did you learn from the literature?a.
The article(s)Ethics are the benchmarks or standards by whichbusinesses operate. In the course of their operations, they encounter decisionsor choices which when implemented may have an impact on the fortunes of thebusiness or organizations. Ethical dilemmas can also be described as a moralsituation where a difficult choice has to be made between a appropriate and aninappropriate act. b. Sections from the book(s) N/A c.
Additional literature frompersonal research Integrity and trust are two of the most criticalissues on ethics that businesses will have to grapple with. Conductingbusinesses with utmost integrity and honesty is central to the existence of abusiness. Allowing customers to develop trust for a business is significant inensuring its success. 2.
What are your ownexperiences in relation to this topic? N/A 3. What are the opportunitiesfor application / integration in your own working environment of this topic? N/A 4. What did you learn from theforum discussions (fellow students / learning coach)? From my forumdiscussions with students and the learning coach I discovered that everyindustry has its peculiar occurrences of ethical dilemmas which they face. 5.
Describe any other learningrelevant to this topic. Since ethicaldilemmas are very likely to occur in the day to day operations of an organizations,code of ethics which are the statutes which guide the conduct of employees aredeveloped by the organization to assist in ensuring that ethical dilemmas areadequately monitored and controlled. Logbook section 3: Workshop Participation 1. What did you learn during the workshop StrategicManagement?a. From the tutor (newtheories)? Strategic planning is asystematic procedure used to develop an organizations strategy.
Strategicplanning begins by defining an organizations vision, mission andobjectives/goals. Ethics are benchmarks orstandards by which businesses operate. b. From your interaction withyour fellow students? One of the greatest ways an organization canachieve success in its domain is by implementing a strategic plan. 2. Whatnew possibilities for application / integration in your own working environmentdid you find in relation to one (or more) topic(s)? N/A 3. Describe any other learningrelevant to your workshop participation In decision making,one of the ways of making informed decisions is by gathering data required forthe decision and performing an analysis of the data to determine whichinformation is essential to you.
Failureengenders many lessons. One of the great lessons we can derive from failure isexperience which helps us develop a better insight into the reasons for failure. Logbook section 3: Writing Process 1. Describe your learningexperiences regarding the execution of your assignmentWhilesexecuting my assignment, I discovered that strategy establishes a concisedirection for an organization.
As part of its strategic plans, Agricultural Developentbank intends experiencing a sustained growth in its customer base with aresultant effect of improving overall profitability. Researching on theprospects of increasing customer base using mobile banking, I was able todevelop a strategic plan which grantedthe bank a path to achieving the expected results of improving customer base.Secondly,my strategic plan was able to help the Agricultural Development bank allocateresources to the specific actions within the strategic plan in order to achievethe desired results of increasing the customer base of the bank.
2. Describe your learningexperiences in relation to the content of your assignmentIn other words, to whatextent did you deepen your knowledge with regards to the specific strategictopic taking central stage in your project.Whilesresearching on the topic to determine the feasibility of mobile banking to beused as a tool to increase the customer base of Agricultural Development bankwhich has a potential to increase substantially by the integration of mobilebanking with traditional banking services, I discovered that it was possiblefor the bank to use mobile bankng as a customer increment strategy since mostpeople have mobile phones. Through strategic planning, I was able to develop aclear and consise implementation plan with timelines, detailed actions andpersons responsible for each action which aimed at partnering mobile networkoperators to provide mobile banking to customers. 3. Describe any other learningexperiences relating to the researching and writing of your ALP Describe the challenges and problems that you may have experienced whileresearching and writing your ALP and how you managed these challenges andproblems One major challenge faced was gathering informationconcerning the selection option.
Most of the players and experts contacted werevery unwilling to provide information regarding the processes and costsinvolved as most thought it was an attempt to draw up taxes for them.Anotherchallenge I encountered in the execution of my alp was the language barrier assome respondents could only communicate in the local dialect (dagbani) and notenglish which was the mode of communication of the researcher. This happenedbecause the researches were conducted in the Northern region where the localdialect is dagbani.As a result of that, it was necessary to acquire the servicesof a translator to ease the communication constraints. Time constraints alsohad a great toll on the researcher as much time was spent in the study area fordata collection and analysis.
Combining the research work with official dutieswas very frustrating as well.
