Journal Entry (Week 27)

Questions: 

1. In your own words and using referenced quotes explain why strategy theories developed in the last 10 years tend to be quite different from those developed in the 1960's 

2.You attend a job interview for an entry level managerial position and mention that you completed a 30 week strategy module. Your interviewer seems interested and explains that this job role would enable you to become involved in the strategy making process. In 200 to 300 words explain to your interviewer how the module has helped to prepare you for a strategy role. 

The one truth in this universe is “Nothing is constant”, so applies for business process, theories and trends. We find that the adaptability of business to its environment brings in the need for new strategic theories. In the last 10 years we notice certain change in the way business function which differ greatly from the 1960’s.

                              

Some of the major changes in business environment then and now are: 

Before	Now
Stable environment	Dynamic environment (Technological advancement, globalization)
Not much competitor	Rigorous competition
Inflexible labor market	Many graduates, few jobs
Monopoly in many markets	Competition driven market-Fierce new entrants
Focus of quantity(Mass production)	Focus on quality and quantity
Financial gain meant business success	Shareholder value, customer satisfaction and public/environment responsibility
Seller power (Businesses king)	Buyer power (Customer king)

 These are some of the few reasons why the strategy theories have had to adapt to the new needs of the present environment. 

McGraw-Hill, 2000

Sitting for my Interview: 

Facing my interviewer

Strategy is not a new concept for me. I have been studying this module since my A-level (HSEB+2). However, every encounter with this subject broadens my horizon forcing me to think from a different/ new perspective every time. I have had to go deeper and deeper into the strategic management process, analyzing many case studies that came across. I see that I have developed. Having a perspective mind has become a habit. I think working in your organization and aiding in the strategy making process would definitely allow me to apply what I have explored till date. I know I’m capable. I believe that working in your company will be mutually beneficial for us. 

I have become accustomed to the tools like SWOT, porter’s 5 forces, PESTLE analysis. Introduction of practicals/tutorials in the module strategy choices and Impact has helped me understand the practicability of the courses. Therefore, I believe these 30 weeks of strategic venture has me equipped with the knowledge and skills that I can use in your organization. 

I would be much delighted if you gave me that chance.

Thank you Sir.

References:
McGraw-Hill, 2000 [Online] Available at: http://www.csupomona.edu/~wcweber/301/301slide/ch02301/img004.gif [Accessed on: 1st May, 2013]

Johnson, Whittington and Scholes (2011) Exploring Strategy, 9th Edition, Pearson Education