TALLER 15%

BENEFITS OF STRATEGIC MANAGEMENT

There are many benefits of strategic management and they include
identification, prioritization, and exploration of opportunities. For instance,
newer products, newer markets, and newer forays into business lines are
only possible if firms indulge in strategic planning. Next, strategic
management allows firms to take an objective view of the activities being
done by it and do a cost benefit analysis as to whether the firm is
profitable.
The key point to be noted here is that strategic management allows a
firm to orient itself to its market and consumers and ensure that it is
actualizing the right strategy.
Financial Benefits
It has been shown in many studies that firms that engage in strategic
management are more profitable and successful than those that do not
have the benefit of strategic planning and strategic management. When
firms engage in forward looking planning and careful evaluation of their
priorities, they have control over the future, which is necessary in the fast
changing business landscape of the 21st century.
Non-Financial Benefits
Apart from these benefits, firms that engage in strategic management
are more aware of the external threats, an improved understanding of
competitor strengths and weaknesses and increased employee
productivity. They also have lesser resistance to change and a clear
understanding of the link between performance and rewards. Strategic
management is essential as it helps firms to rationalize change and
actualize change and communicate the need to change better to its
employees. Finally, strategic management helps in bringing order and
discipline to the activities of the firm in its both internal processes and
external activities.
ACTIVIDADES

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Traducir el ttulo al espaol

Leer sin detenerse (Lectura previa)
Extraer cinco palabras claves de la lectura
Subrayar las ideas principales en la lectura
Expresar en sus propias palabras cul es la idea central de la lectura( en
no ms de tres lneas en espaol).

1) IDENTIFIQUE LAS IDEAS PRINCIPALES EN CADA PRRAFO

2) INDIQUE EN SUS PROPIAS PALABRAS CUL ES LA IDEA CENTRAL DEL
ESCRITO.
In our highly technological world innovation surprises us daily.
As a result of this high dynamics the life cycles of new products and
technologies shortened... This situation reinforces the need for new
innovations. Innovation management and maintaining the "one step

ahead of the competition" position is a key skill for the manager of

the XXI century.
The "father" of the traditional marketing concept - Philip Kotler
and John A. Caslione identified four key changes in the marketing
environment in the beginning of the XXI century:
Customers are more informed than ever. They already have power.
Using the Internet they can find almost everything about any
product, service or company.
Regional brands become more powerful and often win against
widely advertised national trade marks by means of lower price (it
does not have to cover the costs for expensive TV advertising).
Competitors can quickly copy or imitate any new product or
service, thus reducing the return on investment in new products and
shorten the life of any competitive advantage.
Internet and social networks have created a radical new media
capable of exchanging information with users (the other media are
one-way information flow media like radio, TV, newspapers ...) and
allowing direct sales.
These changes in the business environment implies the
development of new approaches by the managers of the new time.
The entry barriers in most industries are melted. Through the
Internet, and information from multinational and small companies
reaches customers at the same speed and in the same way. The size
of the company will be increasingly less important for success.
Dynamics and turbulence in the world economy will boost the rapid,
subtle and prepared at the expense of clumsy and rigid companies ...
Which companies will be the winners we are about to see in 20
years.

Vocabulario
About-acerca
de
Advantageventaja
Advertisedpublicitada
Advertisingpublicidad
Against-contra
Aheadadelante
Allow-permitir
Almost-casi
Already-ya
Any-cualquier
Approachesenfoques
As-como
Barrier-barrera
Becomeconvertir
Beginningcomienzo
Be-ser/estar
Boost-impulsar
Brands-marcas
Businessnegocios
By meansmediante
Can-poder
Capable-capaz
Century-siglo
Changescambios
Clumsy-torpe
Companycompaa
Competitioncompetencia
Competitorcompetidor
Copy-copiar
Cover-cubrir

Crate-crear
Customersclientes
Cycle-ciclo
Dailydiariamente
Developmentdesarrollo
Dynamicsdinmica
Economyeconoma
Entry-entrada
Environmentambiente
Ever-nunca
Everythingtodo
Exchangeintercambiar
Expense-a
expensas de
Expensivecostoso
Father-padre
Find-hallar
Flow-flujo
Have-tener
Highlyaltamente
Imitate-imitar
Imply-implicar
Increasinglycada vez ms
Informedinformados
Investmentinversiones
Key-clave
Less-menos
Life-vida
Like-como
Lower-ms
bajos

Maintainmantener
Managergerente
Marketingmercadeo
Media-medio
de
comunicacin
Melt-derretir
More-ms
Most-la
mayora
Neednecesidad
Network-red
New-nuevos
Newspaperperidico
Often-a
menudo
One-way-un
solo sentido
Or-o
Powerfulpoderosa
Power-poder
Preparedpreparado
Price-precio
Quicklyrpidamente
Reachcontactar
Reduce-reducir
Reinforcereforzar
Resultresultado
Returnrendimiento
Sale-venta
Same-misma
See-ver

Shorten-reducir
Size-tamao
Skill-habilidad
Smallpequeas
Speedvelocidad
Step-paso
Subtle-sutil
Success-xito
Surprisesorprender

Than-que
Throughtmediante
Thus-por lo
tanto
Time-era
Tradecomerciales
Turbulenceturbulencia
User-usuario
Use-usar

Us-nos, a
nosotros
Way-forma
Which-cul
Widelyampliamente
Win-ganar
Winnerganadora
World-mundo
Year-ao