BSM 3614 TRI 2 2017/2018

Tutorial 1
Assignment Discussion

1. The students have to form a group with maximum of 5 team members in

the group. This group is for tutorial and group assignment.
2. Discussion on the Assignment Guidelines.
3. Introduce Case Discussion starting on Tute 2.
Discussion Questions

Why is it important to integrate intuition and analysis in strategic management?

Strategic management is the art and science of formulating, implementing, and evaluating
cross-functional decisions that enable an organization to achieve its objectives.

It can be described as an objective, logical, systematic approach for making major decisions in
an organization. It attempts to organize qualitative and quantitative information in a way that
allows effective decisions to be made under condition of uncertainty. Most organizations can
benefit from strategic management, which is based upon integrating intuition and analysis in
decision making. Where data is available, objective analysis can be conducted however in
situations of great uncertainty or little precedent intuition is particularly useful for making
decisions. It is done base on past experiences, judgment and feelings. Thus, it is important to
integrate intuition and analysis in strategic management make good strategic decisions.

Provide two benefits of strategic management.

Historically, the principal benefit of strategic management has been to help organizations
formulate better strategies through the use of a more systematic, logical, and rational
approach to strategic choice

Businesses using strategic-management concepts show significant improvement in sales,

profitability, and productivity compared to firms without systematic planning activities.
High-performing firms seem to make more informed decisions with good anticipation of
both short- and long-term consequences.

It allows for identification, prioritization, and exploitation of opportunities.

It provides an objective view of management problems.

It represents a framework for improved coordination and control of activities.

It minimizes the effects of adverse conditions and changes.

It allows major decisions to better support established objectives.

It allows more effective allocation of time and resources to identified opportunities.

It allows fewer resources and less time to be devoted to correcting erroneous or ad hoc
decisions.

It creates a framework for internal communication among personnel.