Strat Man Assign 1

Ranica Marie M.
Verzosa
426
November 10, 2014
MGT
ASSIGNMENT #1:
1. What is Strategic Management?
Strategic management is the continuous planning, monitoring, analysis and
assessment of all that is necessary for an organization to meet its goals and
objectives. The strategic management process involves analyzing cross-functional
business decisions prior to implementing them.
Source: http://searchcio.techtarget.com/definition/strategic-management
Strategic management consists of the analysis, decisions, and actions an
organization undertakes in order to create and sustain competitive advantages.
This definition captures two main elements that go to the heart of the field of
strategic management.
Source: http://sbaer.uca.edu/publications/strategic_management/pdf/01.pdf
2. What are trading alliances?
ACG Group (African, Caribbean, and Pacific Group of States)
Established: 6 June 1975
Aim: to manage their preferential economic and aid relationship with the EU
CAN (Andean Community of Nations)
Note formerly known as the Andean Group (AG), the Andean
Parliament, and most recently as the Andean Common Market (Ancom)
Established: 26 May 1969; present name established 1 October 1992; effective
-16 October 1969
Aim: to promote harmonious development through economic integration
ACC (Arab Cooperation Council)
Established: 16 February 1989
Aim: to promote economic cooperation and integration, possibly leading to an
Arab Common Market
APEC (Asia-Pacific Economic Cooperation)
Established: 7 November 1989
Aim: to promote trade and investment in the Pacific basin
BSEC (Black Sea Economic Cooperation Zone)
Established: 25 June 1992
Aim: to enhance regional stability through economic cooperation
Caricom (Caribbean Community and Common Market)
Established: 4 July 1973; effective 1 August 1973
Aim: to promote economic integration and development, especially among the

less developed countries
EFTA (European Free Trade Association)
Established: 4 January 1960; effective 3 May 1960
Aim: to promote expansion of free trade
NAFTA (North American Free Trade Agreement, covers USA, Canada,
Mexico)
Established: 17 December 1992
Aim: to eliminate trade barriers, promote fair competition, increase investment
opportunities, provide protection of intellectual property rights, create procedures
to
settle
disputes
ASEAN (Association of Southeast Asian Nations)
Established: 8 August 1967
Aim: To accelerate the economic growth, social progress and cultural
development in the region through joint endeavours in the spirit of equality and
partnership in order to strengthen the foundation for a prosperous and peaceful
community of Southeast Asian Nations; To promote regional peace and stability
through abiding respect for justice and the rule of law in the relationship among
countries of the region and adherence to the principles of the United Nations
Charter;
MERCOSUR (MERcado COmn del SUR [Southern Common Market])
Established: founded in March 1991 by: Argentina, Brazil, Paraguay and Uruguay
Aim: It aims to bring about the free movement of goods, capital, services and
people among its member states
CAFTA-DR (Dominican Republic-Central America FTA)
Established: 5 August 2004
Aim: This agreement is creating new economic opportunities by eliminating
tariffs, opening markets, reducing barriers to services, and promoting
transparency. It is facilitating trade and investment among the seven countries
and furthering regional integration.
GATT (General Assembly of Tariffs and Trade)
Established: signed in 1947, took effect in 1948
Aim: Its purpose was the "substantial reduction of tariffs and other trade barriers
and the elimination of preferences, on a reciprocal and mutually advantageous
basis."
EU (European Union)
Established: formed by the Inner Six countries in 1951 and 1958, respectively
Aim: To establish European citizenship. This means protection of fundamental
human rights and freedoms; To ensure freedom, security and justice. To promote
economic and social progress; To assert Europe's role in the world.
Source: http://scm.ncsu.edu/scm-articles/article/list-of-international-tradeagreements-tariff-and-tax-in-international-trad
http://home.sandiego.edu/~joana/LatinAmer/REGIONAL%20TRADING
%20BLOCKS.pdf
http://www.ustr.gov/trade-agreements/free-trade-agreements/cafta-dr-dominicanrepublic-central-america-fta
http://en.wikipedia.org/wiki/Dominican_Republic
%E2%80%93Central_America_Free_Trade_Agreement
http://www.asean.org/asean/about-asean/overview
http://www.globalexchange.org/resources/afta
http://en.wikipedia.org/wiki/General_Agreement_on_Tariffs_and_Trade
3. What is competitive advantage?
A competitive advantage is an advantage gained over competitors by offering
customers greater value, either through lower prices or by providing additional
benefits and service that justify similar, or possibly higher, prices.
Source:
https://ag.arizona.edu/arec/wemc/nichemarkets/05competitiveadvantage.pdf
4. Who are strategies?
Strategists are the individuals within an organization responsible for making
strategies to achieve the long term objectives which are obviously align with the
mission and vision of an organization. Strategists are responsible for the success
or failure an organization; formulation, implementation and evaluation of great
strategies will result in an organization success on the other hand bad decision
making in any stage of strategic management will lead towards failure.
Strategists are normally designated on higher management position such as chief
executive officer, chief technology officer, chief marketing officer, president,
board director, and entrepreneur.
Source: http://www.soopertutorials.com/business/strategic-management/4452strategists.html
5. What is vision, mission statement?

Vision Statement
A vision statement sets out a company's long-term goals and aspirations clearly
and concisely. A vision statement is intended to inspire and motivate the
company's workforce by providing a picture of where the organization is heading.
It also provides a reality check for managers, who can compare their strategic
objectives and operational plans to the vision statement. If a planned course of
action doesn't move the company toward its vision, it may need to be revised.
Mission Statement
A mission statement defines the business sector in which a company operates
and sets out its key purpose. It summarizes what the company does and why. It
also sets out how the company conducts its business and identifies key
stakeholders, such as shareholders, customers and employees. A mission
statement helps employees understand where their contribution fits into the
company's objectives. It also helps other stakeholders decide whether they want
to do business with the organization.
Source: http://smallbusiness.chron.com/clear-vision-mission-statementscontribute-strategic-management-process-24100.html

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Ranica Marie M.

Aim: to promote economic integration and development, especially among the

5. What is vision, mission statement?

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