logo

Strategic Development - Essay

   

Added on  2021-01-02

8 Pages1855 Words191 Views
ESSAY

Table of ContentsINTRODUCTION...........................................................................................................................1PESTEL Analysis........................................................................................................................1SWOT Analysis..........................................................................................................................2Porter's Five Forces model..........................................................................................................3Porter's generic strategies............................................................................................................3CONCLUSION................................................................................................................................4REFERENCES................................................................................................................................5

INTRODUCTIONStrategic development tools are considered as assisting techniques which are used inmaking strategies and plans for development and growth (Kunc and Bhandari, 2011). Thestrategies and the development in general business context are elaborated with a business casescenario. Different type of strategic development tools is used as PESTLE, SWOT analysis,Porter's Five Forces model and Porter's generic model is defined in this essay. In order to betterunderstand the concept of strategic development, a practical example of Telstra is selected inorder to analyse its internal and external environment.PESTEL AnalysisThis strategic marketing/development tool is a technique used by marketers to do properinspection and monitor the external marketing environment or macro factor that would haveimpact on an organisation. There are many macro environment factor that could affect theplanning, production and profit of an organisation for example – introduction of new laws,change in the tax rate, demand of customers, alteration in trade policy and may be demographicchange of an area etc. Organisation can maximize their opportunities and minimize threats, ifthere is a proper examination and analysis of these macro environmental factors at regular stages(6 months minimum).The word PESTEL indicates “political, economic, social, technological, environmentaland legal aspects” which plays an important role in business and strategy planning, business andproduct development and examine reports.Political Factor contains government policy and may have a major impact on TelstraCorporation Limited. It refers to the pressure and opportunities brought by political parties. like-election and political trends, corruption, wars, terrorism and conflicts etc. due to which businessoperations of Telstra can get influenced.Economic factors affect the economy of the country and performance of businessenterprise like Telstra, which would directly impact on the operational functions of anorganisation and its profitability. Like-tax rate, interest rate, national/international exchange rate.Social factors focus on collective environment and recognise new trends. It helpsmarketer of Telstra to further understand the customer's need and wants (McGrath, 2012). Like-1

End of preview

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

Related Documents
Business Strategy Assignment - VIRGIN MOBILE
|15
|4800
|389

Strategic Development Models Report 2022
|8
|1734
|27

Competitive Strategy | Report
|8
|2118
|19

Strategic Tools for Analyzing Garuda Indonesia's Competitive Strategy
|5
|1631
|69

Evaluation of External and Internal Environment of Vodafone Group Plc.
|21
|5542
|295

Different Tools and Techniques of Decision Making
|9
|2463
|98