Unformatted text preview: Eek 2 Discussion The chapter opened with a quote by GEs Jack Welch: Manage your destiny, or somebody else will. What does this mean for strategic management? What does it mean when Welch adds, or somebody else will? What is the meaning of Manage your destiny, or somebody else will. Ultimately what manage your own destiny means is to set your own path, strategies or vision for your future lest you get distracted along the way, without a plan of action, your path is erratic and distractions lead you in directions you did not intend. This principle applies to more than just your personal life; this principle can be practiced within the business principles and strategic management of your own company as well. In business strategies and principles exercised and tested, are what the term manage is meant to be. The term strategic management refers to the managerial process of making long term decision. Predictions about the businesses future position along with the sense of a purposeful action plan. If you would like to make it as a company, you must first see in your mind where you want to be, and then put into action the necessary steps to make it there, to see the big picture. You must implement things like, looking at your current status, and make a strategy for the future and then help to implement those strategies to make them happen, your company must consistently evolve to make it in the business world. In conclusion, what is meant or what I think is meant by or someone else will is in the business world if you dont take action in a forward direction, then in the marketing world another company will take your place and put you out of business.
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