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MAJORING READING

BUSINESS ADMINISTRATION

SUBJECT: STRATEGIC MANAGEMENT SEMESTER: VIII TERM: 1

PRE-READING
(3) “It is the continuous process that consists
Before reading, try to guess the correct in adopting now business decisions (risk
answer. taking) systematically and with the
greatest possible knowledge for its future
1. Reflective process that determines the character; in systematically organizing
intention and strategic profile of what an the necessary efforts to execute these
organization wants to become. Its objective is to decisions, and in measuring the results of
look for the ability to anticipate events, visualize a these decisions by comparing them with
destination and build it. expectations through organized
systematic feedback” (Peter F. Drucker).
A. Plan
B. Objetive (4) “Strategic planning is an exciting process
C. Strategic thinking that allows an organization to be
D. Program proactive and not reactive by shaping its
own future.” (Fred R. David)
2. It is the set of general ideas, which provide the
frame of reference of what a company is and (5) “It is the result that was developed
wants to be in the future. through experimentation, error and the
exchange of experiences” (H.I. Ansoff)
A. Objetive
B. Goal (6) “Strategic planning partly includes future
C. View actions to make events happen that are
D. Missión not likely to happen otherwise.. They set
the course to follow, either under
3. They are the result of the planning process and favorable or unfavorable economic
can be defined as detailed designs or schemes of conditions” (George Terry)
what will be done in the future and the necessary
specifications to carry them out. Strategic planning consists in determining the
direction that an organization must have in
A. Objetives order to achieve its medium and long term
B. Plans objectives.
C. Goals
D. Achievements One of the instrumental functions of strategic
planning is to strike a balance between three
WHILE READING types of forces, which in turn answers different
questions:
Read the following text and do the proposed • The mission of the organization
exercises. • Las oportunidades y amenazas que enfrenta la
organización (enviroment)
STRATEGIC PLANNING DEFINITION: • The strengths and weaknesses of the internal
By: Mg. Sc. Rosana R. Tazza Matta environment of the organization
Peruvian University of the Andes
An effective strategic plan helps to balance these
Some leading researchers on the subject, some three forces, to recognize potentialities and
strategic planning concepts to know: limitations, to take advantage of the challenges
and to face the risks.
(1) “Strategic planning is a process that
begins with the establishment of Steps to design a strategic plan:
objectives; define detailed strategies,
policies and plans to achieve them; is o Step No 1. Identification of external clients
what an organization establishes to and determination of their demands. External
implement decisions, and includes a clients are the people, organizations, groups or
performance review and feedback to sectors of great importance for the institution.
introduce a new planning cycle” (George Your views, expectations and demands should be
A. Steiner) taken into consideration to later decide if they can
be taken care of.
(2) “Planning includes selecting missions
and objectives and actions to achieve The systematic determination of the demands of
them; requires making decisions: That is, external customers will provide valuable
select between various future courses of information to design and deliver quality products
action. So the planning provides a and services that increasingly meet expectations.
rational approach to achieve preselected
objectives” (Harold Koontz – o Step No 2. Identification of internal
Heinz Weirich) customers and determination of their
This workshop and its full content was adapted and prepared by Jennifer León Vanegas, Sandra Borbòn as part
of the project “MAJORING IN READING for SPECIFIC SUBJECTS © UNIMINUTO 2019 – Unidad de inglés Centro
Regional Soacha. All rights reserved. Any redistribution or reproduction of part or all of the contents in any form is
prohibited.
MAJORING READING

BUSINESS ADMINISTRATION

SUBJECT: STRATEGIC MANAGEMENT SEMESTER: VIII TERM: 1

demands. The people, groups, areas or internal Strategy Definition. Plan or requirements
departments directly and permanently linked to established to facilitate the objectives are met,
the management of the organization, can be because it defines the way forward, despite the
called internal customers. influence that the environment exerts on the
organization.
o The demands of internal customers should
be considered carefully as they will serve as Objetives. These are the results that the
the basis for the formulation of objectives and organization intends to achieve within a period of
strategies. This does not mean that all 1 to 5 years. They are more oriented to define
expectations must be met.. To the extent that it strategic, tactical and operational results.
satisfies the demands of internal clients, their
degree of motivation and commitment will Goals. Definition of specific results, derived from
increase, that will undoubtedly result in the an action or limited set of actions and that can be
effectiveness, efficiency and effectiveness of the measured with results indicators
organization.
Results indicators. They are the units of
"Satisfied internal customers will achieve the measure, through which the criteria have been
satisfaction of external customers" determined to know if the expected results have
been produced.

VOCABULARY

Customers Plan Planning Objetives Indicators


Strategics Results Directión Process Riks

Complete the blanks with a word from the vocabulary box.

1. Priorities set to facilitate that ______________ are fulfilled


2. The demands of ______________ interns must be considered.
3. ______________ o Priorities established to facilitate the achievement of the objectives
4. The _______________ Strategic is an exciting process that allows an organization to be proactive and
not reactive
5. They can be measured with _________________ of results
6. Strategic planning consists in determining the ______________ what an organization must have
7. Definition of _______________ specific, derived from an action or limited set of actions.
8. They are more oriented to define the results. _________________, táctics and operational.
9. Strategic planning is a ______________ which begins with the establishment of the objectives.
10. An effective strategic plan it helps to take advantage of the challenges and face the
_______________

VOCABULARY (NEW CONTEXT)

Customers Plan Planning Objetives Indicators


Strategics Results Directiòn Process Risks

Complete the blanks with a word from the vocabulary (new context) box.

1. Provide excellent quality of service to his _______________


2. The materialization of some of the ___________ may cause the project to be unfeasible.
3. We proceed to control the strategies through _________________ preset.
4. Planning includes selecting missions, ________________ and the actions to reach them.
5. The _____________ strategic planning includes the sequential development of the phases.
6. The development of a ___________ strategic produces benefits related to the ability to perform
more efficient management
7. The Operational Phase, which consists in determining the objectives ________________ and the
determination of the strategies
8. They represent the ______________ that are expected from follow-up of certain strategies.
9. The _____________ includes selecting missions and objectives and actions to achieve them.
10. The vision is not expressed in numerical terms, defined by the high ________________

READING COMPREHENSION

This workshop and its full content was adapted and prepared by Jennifer León Vanegas, Sandra Borbòn as part
of the project “MAJORING IN READING for SPECIFIC SUBJECTS © UNIMINUTO 2019 – Unidad de inglés Centro
Regional Soacha. All rights reserved. Any redistribution or reproduction of part or all of the contents in any form is
prohibited.
MAJORING READING

BUSINESS ADMINISTRATION

SUBJECT: STRATEGIC MANAGEMENT SEMESTER: VIII TERM: 1

Read the questions and answer them based on the text above.

1. What is strategic planning?


2. What are results indicators?
3. What are the three forces that help balance an effective strategic plan?
4. What are objectives?
5. What are goals?
6. What will increase when the demands of internal customers are met?
7. What are internal customers?
8. What is the first step in designing a strategic plan?
9. What is the second step in designing a strategic plan?
10. What is the third step to design a strategic plan?

TRUE / FALSE
Based on the reading, put an “X” if the sentence is T (true) F (false).
1. Satisfied internal customers will achieve the satisfaction of external customers. ( )
2. The demands of internal clients should not be considered carefully as they will serve as the basis for the
formulation of objectives and strategies. ( )
3. The views, expectations and demands of customers require consideration ( )
4. Strategic planning defines detailed strategies, policies and plans to achieve them. ( )

5. One of the instrumental functions of strategic planning is to take stock of the organization's mission ( )

6. Strategic planning is a process that does not allow an organization to be proactive. ( )

7. Strategic planning includes specific past actions partly to make events happen ( )
8. Strategic planning is the continuous process that consists in making decisions now ( )
9. Strategic planning sets the course to follow, either under favorable or unfavorable economic conditions (
)
10. Strategic planning is the continuous process that consists in systematically organizing the necessary
efforts to execute decisions, and in measuring the results ( )

This workshop and its full content was adapted and prepared by Jennifer León Vanegas, Sandra Borbòn as part
of the project “MAJORING IN READING for SPECIFIC SUBJECTS © UNIMINUTO 2019 – Unidad de inglés Centro
Regional Soacha. All rights reserved. Any redistribution or reproduction of part or all of the contents in any form is
prohibited.