BUS 523 Week 1 Assignment 2

Assignment 2
Chapter 1 ideas - The Strategic Management Process

Game time! But wait - let's first ourself few questions to make sure we are ready to play/ get involve in the game.

• What type of game?
• The rules of the game?
• Understanding the process?
• What resources i have?
• What is the external and internal environmental need and analysis?
• How you formulate the strategic direction, implementation and control?
• How to control your stakeholder?

Referring to the Stakeholder Analysis and managing the stakeholder means Managing Up to me.

Therefore, below are my favorite and important points on how to Manage Up as part of the strategic thinking and management.

• Be good at what you do
• Listen - don't just hear the boss
• Under promise and over deliver
• Over communicate - always
• Pick your battles
• Ask for responsibility, don't wait/ expect it to be given to you
• Don't burn your bridges
• You are not competing with your co-worker

Chapter 2 ideas - The External Environment

I have selected below personnel as the case study as he manage utilize the external environment to achieve his status today.

He is Carlos Slim - Mexican telecom tycoon who is also the first man from a developing nation to become the world's richest person.

He is both pride and anger in Mexico, where many see his fantastic wealth in a poverty-afflicted nation.


Sociocultural/ Political/ Economic Forces
This is part of what is wrong with the Mexican political system and the corruption in the circles of power, that allow there to be a few rich people and millions of poor. While Mexico belongs to the Organization for Economic Cooperation and Development, whose 30 members constitute the world's most important market economies, it is also a developing nation. More than 50 million of Mexico's 107 million people live in poverty.

Technological Forces & Monopoly

Slim's empire of retail, telecom, manufacturing and construction companies dominate the Mexican commercial landscape it is often easy for Mexicans to find themselves talking over:

• Slim-operated cell phone at a Slim --> owned shopping center waiting to pay a bill to a Slim --> owned company at a Slim-owned bank.
• If the line is too long, they can catch a quick coffee at a Slim-owned restaurant.
• His Telmex telephone company controls 83 percent of land lines in Mexico and is the leading Internet service provider.

Competitive Forces

Slim is a civil engineer by training, he has bought up troubled or government-owned companies of all types, fixed them up and resold them for huge profits. That kind of thrifty eye for undervalued businesses has served him well, especially after the market downturns in recent years.

Slim’s philosophy:

"Wealth must be seen as a responsibility, not as a privilege. The responsibility is to create more wealth. It's like having an orchard; you have to give away the fruit, but not the trees."