logo

Document on Strategic Management

   

Added on  2020-02-24

31 Pages6564 Words44 Views
FinanceLeadership ManagementPolitical Science
 | 
 | 
 | 
Running head: STRATEGIC MANAGEMENT
Strategic Management
Name of the Student:
Name of the University:
Author’s Note:
Document on Strategic Management_1

1STRATEGIC MANAGEMENT
Executive Summary
Strategic management is the continuous process of developing, implementing and evaluating the
business decisions, which can enable an organization towards meeting the organizational
objectives. The study has set organizational objectives for Dhiraagu to be fulfilled over the next
3 years periods. Moreover, the study has analyzed the internal and external market of the
organization. From such analysis, it can be found that the organization has strong brand
reputation and talented employee set. However, it has lack of international expansion and facing
extremely competitive pressure in the market. On the other hand, the Government of Maldives
itself has 41.8% share in this organization. Therefore, the organization gets direct support of the
government. From the corporate portfolio analysis, it has been found that 3G HSDPA Mobile
Broadband, Web hosting and Data Center Services are generating highest cash for the business
success. Based on the situational analysis, the study has formulated the goals and objectives for
the organization to be fulfilled over the next 3 years period. The organization will enter into
various international markets, increase market share by 20%, sale volume by 30% and profit
level by 25%. Moreover, the study has set some effective strategies for the organization through
using generic strategies and grand strategies. Furthermore, the study has also suggested some
monitoring and controlling strategies for the organization for assessing the success of the
planned strategies.
Document on Strategic Management_2

2STRATEGIC MANAGEMENT
Table of Contents
1.0 Introduction................................................................................................................................3
2.0 Internal Analysis........................................................................................................................3
2.1 SWOT....................................................................................................................................3
2.1.1 Strength...........................................................................................................................3
2.1.2 Weakness........................................................................................................................4
2.1.3 Opportunities..................................................................................................................4
2.1.4 Threats............................................................................................................................5
3.0 External Analysis.......................................................................................................................5
3.1 PEST......................................................................................................................................5
3.1.1 Political Factor................................................................................................................5
3.1.2 Economic Factor.............................................................................................................6
3.1.3 Social Factor...................................................................................................................6
3.1.4 Technological Factor......................................................................................................6
4.0 Corporate Portfolio Analysis.....................................................................................................9
4.1 BCG Matrix...........................................................................................................................9
4.1.1 Dog...............................................................................................................................10
4.1.2 Question Marks.............................................................................................................10
4.1.3 Stars..............................................................................................................................10
4.1.4 Cash Cow......................................................................................................................11
Document on Strategic Management_3

3STRATEGIC MANAGEMENT
4.2 Mckinsey GE Model............................................................................................................11
4.2.1 Grow.............................................................................................................................12
4.2.2 Hold..............................................................................................................................12
4.2.3 Harvest..........................................................................................................................13
5.0 Goals and Objectives for Next 3 Years...................................................................................14
6.0 Strategy Formulation...............................................................................................................15
6.1 Generic Strategy..................................................................................................................15
6.2 Grand Strategy.....................................................................................................................16
7.0 Explanation about the implementation....................................................................................17
7.1 Implementation of Generic Strategies.................................................................................17
7.1.1 Cost Leadership............................................................................................................17
7.1.2 Differentiation...............................................................................................................18
7.1.3 Focus.............................................................................................................................18
7.2 Grand Strategy.....................................................................................................................19
7.2.1 Stable Strategy..............................................................................................................19
7.2.2 Growth Strategy............................................................................................................19
7.2.3 Retrenchment Strategy..................................................................................................20
8.0 Monitoring and control system................................................................................................20
8.1 Premise Control...................................................................................................................20
8.2 Implementation control........................................................................................................21
Document on Strategic Management_4

4STRATEGIC MANAGEMENT
8.3 Strategic Surveillance..........................................................................................................21
9.0 Conclusion...............................................................................................................................21
Reference List................................................................................................................................23
Document on Strategic Management_5

5STRATEGIC MANAGEMENT
1.0 Introduction
Strategic management defines the formulation and implementation of major
organizational goals and objectives based on the consideration internal and external environment
of an organization (Bettis et al. 2016). This study will choose Dhiraagu of Maldives and
formulate some key objectives to be fulfilled over the next 3 years. Dhiraagu is the leading
telecommunication organization in Maldives (Dhiraagu.com.mv 2017). The study will assess the
internal and external market for the organization for assesses some factors, which can have huge
impact on the business process of the organization. The study will also perform corporate
portfolio analysis of the organization through BCG matrix and Mckinsey GE model. Based on
such situation analysis, the study will set some specific objectives of the organization, to be
fulfilled over next 3 years. Apart from that, the study will develop and implement generic
strategies and grand strategies for meeting the planned objectives of the organization.
Furthermore, some monitoring and controlling mechanism with also be provided in this study for
evaluating the success level of planned strategies.
2.0 Internal Analysis
2.1 SWOT
2.1.1 Strength
According to Payne and Frow (2014), Dhiraagu is the largest and leading
telecommunication operator in Maldives. Strong brand reputation of the organization has
increased the customer base of the organization. Furthermore, high quality uninterrupted network
and internet service has increased the customer loyalty of the customers. On the other hand,
Document on Strategic Management_6

6STRATEGIC MANAGEMENT
Schaarschmidt and Kilian (2014) opined that wide range of telecommunication service has met
the needs of different kinds of people. It has actually increased the sales volume of the
organization. Online bill payment options encourage huge customers to take the network service
of this organization. Apart from that, highly talented and skilled employees has built the
foundation of the organization and led to its success. Strong promotional activities and discounts
provided to the customers have increased the sales volume of the services of this organization.
2.1.2 Weakness
Musacchio, Lazzarini and Aguilera (2015) pointed out that strong brand image can be
highly vulnerable to breakthrough even for any small reason. Moreover, the organization has
lack of international expansion with across the internal market. It can limit the profit volume of
the organization with limited access to the customers. On the other hand, Sakas, Vlachos and
Nasiopoulos (2014) opined that Dhiraagu is facing tough price competition from its direct
competitors. Moreover, they are constantly fighting with keeping their market share up against
the competitors.
2.1.3 Opportunities
As per Mirabeau and Maguire (2014), Dhiraagu has huge opportunities to enter into
internal market individually apart from partnership with some other partners. Moreover, high
brand reputation will enhance the acceptability of the network and internet service of Dhiraagu in
international market. On the other hand, Chen, Delmas and Lieberman (2015) opined that
partnership with the bigger telecom companies in international market can boost the performance
level of the organization. Furthermore, the adoption of latest and advanced technology can
further improve the quality of telecom services.
Document on Strategic Management_7

7STRATEGIC MANAGEMENT
Document on Strategic Management_8

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Strategic Planning in Management: Analyzing Business Environment and Market Competition
|34
|8427
|181

Formulation of Strategic Management Process
|23
|6902
|390

Report on Contemporary Hotel Marketing
|28
|6790
|41

Strategic Management and Planning
|27
|7412
|214

Strategic Management of Al-Ghanim Industries: Analysis and Recommendations
|22
|5487
|153

Marketing Strategies of Target Corporation
|27
|7593
|1718