Logbook plenary session and while working on your

Logbook Strategic
Management

The completed logbook must be sent in together with
the assignment for Strategic Management. The assignment will only be forwarded
for marking once the corresponding logbook has been received.

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To be completed by the student:

Name Student:  KWABENA ADUSEI SARPONG             

E-mail address: [email protected]

Submission date: 25/01/2018     

 

A well maintained Logbook
serves the following main purposes:

 

·       
A personal guideline throughout your studies

·       
A means for reflection on your learning experiences – during your self
study of the preparation, attendance during the plenary session and while
working on your assignment

·       
A basis for the Phase 3 assignment Evaluative Assessment of Managerial
Learning

·       
A tool for BSN to monitor your individual studies and preparations

 

This template is divided in three
sections.

 

·       
Section
1: Workshop preparations

·       
Section
2: Workshop participation

·       
Section 3: Writing process of concluding assignment for SM

Section 1 refers to the preparation
for each of the eight workshop-topic of the Strategy course.

 

Section 2 applies to your learning experiences during
the workshop (the plenary session). In contrast to your notes in logbook
section 1, these do not necessarily need to be specified in line with the eight
topics and may be described in a generic fashion. But if deemed more
appropriate you are obviously free to class them according to the various
subjects nonetheless.

 

Section 3 serves to reflect on
your learning experiences while writing your concluding assignment.

 

BSN acknowledges that certain aspects,
such as your personal experience in relation to the topic, applicability to
your organisation and additional research may not always be relevant to all
workshop-topics.

Logbook section 1: Workshop preparation

 

Strategic
Objectives – Workshop 1: History of strategy

1. What did you learn from the literature?

a. The article(s)

From the perspective of other strategy scholars, I
understood that strategy is a series of plans which are carefully orchestrated
to increase the competitiveness of a business in a particular market in which
it operates.

 

b. Sections from the book(s)

 

According to the book,
strategy incorporates three elements namely; long term, direction and
organization.

Long term since it has a
definite duration measured in years, direction because it contains a series of rational
patterns which are measured over time and organizations which involve groups of
well-structured people who are managed and have a collective agenda of
achieving a particular goal(s).

 

c. Additional literature from
personal research

 

Having an idea of the
direction in which an organization intends to take gives them an idea of the
kind of resources and capabilities they require to achieve their set
objectives/goals. Strategy is a vehicle which facilitates decision making
within an organization.

 

2. What are your own
experiences in relation to this topic?

 

A historical
analysis of strategic planning and its implementation within an organization.               

 

3. What are the opportunities
for application / integration in your own working environment of this topic?

 

A clear
understanding of my organizations strategic vision, mission and goals in order
to guide me in achieving the objectives it has set for itself.

 

4. What did you learn from the
forum discussions (fellow students / learning coach)?

From
the forum discussions, I understood business strategy from the standpoint of
various students in different industries coupled with their understanding of
their organizations visions, missions and goals.

 

5. Describe any other learning
relevant to this topic.

 

A business strategy
clearly defines an organizations vision, mission and direction in order to help
management and employees not to lose sight of the organizations goals and align
their vision with that of the organization.

 

Strategic
Objectives – Workshop 2: Strategic Intent

1. What did you learn from the literature?

a. The article(s)

 

One of the greatest ways a
company can achieve success in its chosen domain is by deploying a strategic
plan. A strategic plan helps in planning by helping management track the
progress of the company against established benchmarks to determine  gaps in their performance and how they can be
bridged.  

 

 

b. Sections from the book(s)

 

Strategy provides a clear and distinct sense of
direction for an organization and how it intends to    achieve that including detailed action plans
and individuals responsible for each action.

 

c. Additional literature from
personal research

 

Strategy helps in resource
deployment because organizations have finite resources. Strategy is about
making the right choices which has a positive impact on the fortunes of the
organization. Therefore, an organization might decide to strategically decide where
to invest funds or which products or service they should implement currently to
yield dividends in the future.

           

2. What are your own
experiences in relation to this topic?

   

I have a greater
insight into the significance of strategy within an organization and   personally it has helped me in developing a
strategic plan for my personal development.  

 

3. What are the opportunities
for application / integration in your own working environment of this topic?

 

I
have incorporated the aspect of goals in strategic planning in my day to day
activities at work by breaking larger formidable tasks into smaller tasks or
goals to make them easier to tackle.

 

4. What did you learn from the
forum discussions (fellow students / learning coach)?

Based on discussion with various students and
learning coaches, I have learnt that most importantly, strategic planning
provides a sense of direction for an organization.

It also helps in decision making by aligning and
allocating resources to the right places in order to yield the best dividends.

 

5. Describe any other learning
relevant to this topic.

 

Based on the
discussion, I have learnt to develop a personal performance audit of myself in
order to determine my strengths and weaknesses. An assessment will help me
reinforce my strengths and improve my weaknesses to determine which area of my
life and work I perform well. This will enable me attain some kind of
excellence based on my strengths.

 

 

 

Strategic
Options – Workshop 3: Strategy and Environment

1. What did you learn from the literature?

a. The article(s)

 

The environment creates
opportunities and threats and since organizations belong to the environment,
they need to adapt to changes within it and develop mechanisms to survive in
it.

 

b. Sections from the book(s)

 

The PESTEL analysis is a
framework used by marketers to monitor the key drivers and external factors
which impact an organization and comprises; political, economic, social, technological,
environmental and legal factors.

 

2. What are your own
experiences in relation to this topic?

 

PESTEL
analysis is a tool which helps in decision making by assessing the risks that
businesses are likely to face in particular environments and taking decisions
to mitigate or avoid them.

 

3. What are the opportunities
for application / integration in your own working environment of this topic?

N/A

 

4. What did you learn from the
forum discussions (fellow students / learning coach)?

From the forum discussions with the learning
coach and fellow students, I was able to understand the external factors or
drivers impacting the various industries students worked and their suggestions
on how their organizations could have a competitive advantage over those risks
described.

 

5. Describe any other learning
relevant to this topic.

 

    N/A

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Strategic
Options – Workshop 4: Strategic Planning

1. What did you learn from the literature?

a. The article(s)

 

Strategic planning is a
methodical approach used to develop an organizations strategy.

 

b. Sections from the book(s)

 

Strategic planning is a
systematic procedure used to develop an organizations strategy. Strategic
planning begins by defining an organizations vision, mission and
objectives/goals.

 

c. Additional literature from
personal research

        

In strategic planning, an organization defines its
long term direction or strategy, transforms it into goals and objectives and deploys
resources to enable them meet their strategy.

 

 

2. What are your own
experiences in relation to this topic?

 

Strategic
planning is useful in evaluating the progress an organization has made against
certain established benchmarks to determine if progress has been made thereby indicating
gaps in performances and bridging those gaps when appropriate.

 

3. What are the opportunities
for application / integration in your own working environment of this topic?

 

A
critical aspect of strategic planning is reviewing actual performance against
expected performance. When given targets to meet in my line of duty, I will
develop a strategic plan which keeps track of my actual performance against the
expected target.

 

4. What did you learn from the
forum discussions (fellow students / learning coach)?

 

One of the greatest ways an organization can
achieve success in its domain is by implementing a strategic plan.

 

5. Describe any other learning
relevant to this topic.

         

Strategic
planning impacts the performance of an organization by keeping track of the
activities which need to be undertaken and their various timelines, external
and internal factors, scenarios and the desired outcomes.

 

 

 

Strategy
Selection – Workshop 5: Bridging the Leadership Gap

1. What did you learn from the literature?

a. The article(s)

    N/A

 

 

b. Sections from the book(s)

 

    N/A

 

c. Additional literature from
personal research

 

    N/A

 

2. What are your own
experiences in relation to this topic?

 

    N/A

 

3. What are the opportunities
for application / integration in your own working environment of this topic?

 

   N/A

 

4. What did you learn from the
forum discussions (fellow students / learning coach)?

 

  N/A

 

5. Describe any other learning
relevant to this topic.

 

  N/A

 

 

Strategy
Selection – Workshop 6: Decision-making

1. What did you learn from the literature?

a. The article(s)

 

Decision making is the procedure of choosing between
one or more choices of action.

 

b. Sections from the book(s)

 

Decision making is critical to problem solving as it
offers one the possibility of choosing between alternative solutions to a
problem.

 

c. Additional literature from
personal research

 

 Decision making
may take place within an individual or organizational level and is influenced
by the culture and structure of the organization.

 

2. What are your own
experiences in relation to this topic?

 

Effective decision
making can be made by analysing the pros and cons of the options available to
you, decide which options has a weightier advantage, determine the outcome of
each option and decide on the most appropriate option to take.

 

3. What are the opportunities
for application / integration in your own working environment of this topic?

 

I have learnt how
to make decisions quickly and expeditiously by gathering enough data on the
options available.

 

 

4. What did you learn from the
forum discussions (fellow students / learning coach)?

 

Through forum
discussions, I have learnt that effective decision making can be prevented by
having very little or too much information, emotional or no emotional attachment.

 

5. Describe any other learning
relevant to this topic.

 

One of the ways of
making informed decisions is by gathering data required for the decision and
performing an analysis of the data to determine which information is essential
to you.

 

 

Strategy
Implementation – Workshop 7: Learning from Failure

1. What did you learn from the literature?

a. The article(s)

 

One of the ways organizations
can improve future performance is to learn from their past failures.

 

b. Sections from the book(s)

 

N/A

 

c. Additional literature from
personal research

 

Failures fall into three categories:
preventable ones, unavoidable ones in complex systems, which may arise as a
result of combinations of needs, people, and problems; and intelligent ones at
the frontier, where “good” failures occur quickly and on a small
scale, providing the most valuable information.

 

2. What are your own
experiences in relation to this topic?

 

Being accountable for ones
mistakes instead of blaming it on external circumstances makes it easier for a
person to learn from past failures.

                                                                                                

3. What are the opportunities
for application / integration in your own working environment of this topic?

 

Analysing the key
causes of failure is one of the important ways of improving ones response to a
situation which resulted in failure.

 

4. What did you learn from the
forum discussions (fellow students / learning coach)?

 

One
of the great lessons we can derive from failure is experience which helps us
develop a better insight into the reasons for failure.

 

5. Describe any other learning
relevant to this topic.

 

   N/A

 

 

Strategy
Implementation – Workshop 8: Ethics and Dilemmas

1. What did you learn from the literature?

a. The article(s)

Ethics are the benchmarks or standards by which
businesses operate. In the course of their operations, they encounter decisions
or choices which when implemented may have an impact on the fortunes of the
business or organizations. Ethical dilemmas can also be described as a moral
situation where a difficult choice has to be made between a appropriate and an
inappropriate act.

 

 

b. Sections from the book(s)

 

N/A

 

c. Additional literature from
personal research

 

Integrity and trust are two of the most critical
issues on ethics that businesses will have to grapple with. Conducting
businesses with utmost integrity and honesty is central to the existence of a
business. Allowing customers to develop trust for a business is significant in
ensuring its success.  

 

 

2. What are your own
experiences in relation to this topic?

 

N/A

         

         

 

3. What are the opportunities
for application / integration in your own working environment of this topic?

 

     N/A

 

 

4. What did you learn from the
forum discussions (fellow students / learning coach)?

 

From my forum
discussions with students and the learning coach I discovered that every
industry has its peculiar occurrences of ethical dilemmas which they face.

 

5. Describe any other learning
relevant to this topic.

 

Since ethical
dilemmas are very likely to occur in the day to day operations of an organizations,
code of ethics which are the statutes which guide the conduct of employees are
developed by the organization to assist in ensuring that ethical dilemmas are
adequately monitored and controlled.    

 

Logbook section 3: Workshop Participation

 

1. What did you learn during the workshop Strategic
Management?

a. From the tutor (new
theories)?

 

Strategic planning is a
systematic procedure used to develop an organizations strategy. Strategic
planning begins by defining an organizations vision, mission and
objectives/goals.

 

Ethics are benchmarks or
standards by which businesses operate.

         

b. From your interaction with
your fellow students?

 

One of the greatest ways an organization can
achieve success in its domain is by implementing a strategic plan.

 

2. What
new possibilities for application / integration in your own working environment
did you find in relation to one (or more) topic(s)?

   

      N/A

 

3. Describe any other learning
relevant to your workshop participation

    

In decision making,
one of the ways of making informed decisions is by gathering data required for
the decision and performing an analysis of the data to determine which
information is essential to you.

 

Failure
engenders many lessons. One of the great lessons we can derive from failure is
experience which helps us develop a better insight into the reasons for failure.

 

 

 

Logbook section 3: Writing Process

 

1. Describe your learning
experiences regarding the execution of your assignment

Whiles
executing my assignment, I discovered that strategy establishes a concise
direction for an organization. As part of its strategic plans, Agricultural Developent
bank intends experiencing a sustained growth in its customer base with a
resultant effect of improving overall profitability. Researching on the
prospects of increasing customer base using mobile banking, I was able to
develop a strategic  plan which granted
the bank a path to achieving the expected results of improving customer base.

Secondly,
my strategic plan was able to help the Agricultural Development bank allocate
resources to the specific actions within the strategic plan in order to achieve
the desired results of increasing the customer base of the bank.

 

 

 

 

2. Describe your learning
experiences in relation to the content of your assignment

In other words, to what
extent did you deepen your knowledge with regards to the specific strategic
topic taking central stage in your project.

Whiles
researching on the topic to determine the feasibility of mobile banking to be
used as a tool to increase the customer base of Agricultural Development bank
which has a potential to increase substantially by the integration of mobile
banking with traditional banking services, I discovered that it was possible
for the bank to use mobile bankng as a customer increment strategy since most
people have mobile phones. Through strategic planning, I was able to develop a
clear and consise implementation plan with timelines, detailed actions and
persons responsible for each action which aimed at partnering mobile network
operators to provide mobile banking to customers.

 

3. Describe any other learning
experiences relating to the researching and writing of your ALP

 

Describe the challenges and problems that you may have experienced while
researching and writing your ALP and how you managed these challenges and
problems

 

One major challenge faced was gathering information
concerning the selection option. Most of the players and experts contacted were
very unwilling to provide information regarding the processes and costs
involved as most thought it was an attempt to draw up taxes for them.

Another
challenge I encountered in the execution of my alp was the language barrier as
some respondents could only communicate in the local dialect (dagbani) and not
english which was the mode of communication of the researcher. This happened
because the researches were conducted in the Northern region where the local
dialect is dagbani.As a result of that, it was necessary to acquire the services
of a translator to ease the communication constraints. Time constraints also
had a great toll on the researcher as much time was spent in the study area for
data collection and analysis. Combining the research work with official duties
was very frustrating as well.