Assignment no.3

1.)Explain why strategy or strategic moves are important in business?
-Strategic planning is in organizations process of defining its strategy,or direction,and making decisions on allocating its resources to pursue this strategy,including its capital and people.In many organizations,this is viewed as a process for determining where an organization is going over the next year or more-typically 3 to 5 years,although some extend their version to 20 years.
-It is also true that strategic planning may be a tool for effectively plotting the direction of a company.
2.)Illustrate how information system can give a competitive advantages?
-Information system provides internal control in businesses and other organization.At the start,in businesses.and other organizations,internal reporting was made manually and only periodically,as by-product of the accounting system and some additional statistics,and gave limited and delayed information on management performance.
-Business computer were used for the practical business of computing the payroll and keeping track of accounts payable and accounts receivable.
3.)Identify the basic initiatives for gaining a competitive advantages?
-Various Business analysis techniques can be used in strategic planning,including SWOT ANALYSIS(Strengths,weaknesses,opportunities,and threats)or PEST ANALYSIS(Political,economic,social,and technological analysis)or STEER ANALYSIS(Socio-cultural,technological,economic,ecological,and regulatory factors)and Epistel(Environment,political,informatic social,technology,economic and legal).
-Strategic planning is the formal consideration of an organizations future course all strategic planning deals with at least one of three key questions.
*"What do we do?"
*"For whom do we do it?"
*"How do we excel?"