Running head:STRATEGIC MANAGEMENT Strategic Management Name of the Student: Name of the University: Author’s Note:
1STRATEGIC MANAGEMENT Executive Summary Strategic management is the continuous process of developing, implementing and evaluating the business decisions, which can enable an organization towards meetingthe organizational objectives. The study has set organizational objectives for Dhiraaguto 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.
5STRATEGIC MANAGEMENT 1.0 Introduction Strategicmanagementdefinestheformulationandimplementationofmajor organizational goals and objectives based on the consideration internal and external environment of an organization (Bettiset al.2016). This study will choose Dhiraaguof Maldives and formulate some key objectives to be fulfilled over the next 3 years. Dhiraaguis 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 strategiesandgrandstrategiesformeetingtheplannedobjectivesoftheorganization. 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 AccordingtoPayneandFrow(2014),Dhiraaguisthelargestandleading 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,
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.
7STRATEGIC MANAGEMENT
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