Assignment on Strategic Management for Telstra

Running head: STRATEGIC MANAGEMENT
Strategic Management for Telstra
Name of the Student
Name of the University
Author’s Note:

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STRATEGIC MANAGEMENT
Abstract
The major objective of the report is to learn about the entire concept of strategic management for
the popular as well as significant company in Australia, Telstra Corporation Limited. The
various strategies in any particular business is well planned and monitored with the help of
successful implementation of strategic management. The organization gets the opportunity to
identify all types of strategies, so that it becomes easier for them to identify the issues present in
their existing strategies. This critical essay has highlighted all the vital aspects of strategic
management in Telstra with proper literature review and analysis of their current position.

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Table of Contents
1. Introduction..................................................................................................................................3
2. Discussion....................................................................................................................................4
2.1 Brief Description of the Organization of Telstra Corporation Limited.................................5
2.2 Critical Literature Review of Key Theories of Strategy being developed and implemented
with the Relationship between Strategy, Innovation and Change...............................................5
2.3 Critical Analysis of the Selected Strategic Processes in Telstra Corporation Limited........12
2.4 Proper Assessment of the Extent to which People in Telstra Corporation Limited getting
engaged with and Contributing to a Selected Strategy..............................................................17
2.5 Recommendations about Strategic Processes in the Company to be improved..................20
3. Conclusion.................................................................................................................................23
References......................................................................................................................................25

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STRATEGIC MANAGEMENT
1. Introduction
Strategic management can be referred to as proper formulation as well as distribution of
the most significant initiatives and goals, considered by the top management of the organization
on behalf of the owners (Ansoff et al. 2018). It is on the basis of major consideration of different
resources as well as an evaluation of the external and internal environment, where the company
is operating. Strategic management is responsible for providing overall direction to the
organization and also involves specifications of these company goals, allocation of the resources
for implementing the plans and proper development of the policies and plans for obtaining the
objectives. It is need to develop several models and frameworks for the core purpose of assisting
in the decision making procedure for maintaining complicated environments or competitive
dynamics (Rothaermel 2016). It is not at all static in nature and the respective models involve a
proper feedback loops for the major purpose of checking execution or informing the next rounds
of planning.
There are 3 vital principles that underlie strategic management and these principles
involve formation of the most unique as well as valuable market positions, making trade-offs by
selecting the requirements and also creation of the best aspect by alignment of the organizational
activities with one another for providing support to their selected strategy (David and David
2016). A corporate strategy is responsible for highlighting the basic attributes of a business and
the business strategy includes the process of competing within the market. Management theory
and practice makes a proper distinction in operational management and strategic management
with subsequent operational management being concerned with improvising effectiveness as
well as managing costs within the boundaries set by the strategy of organization (Ginter, Duncan
and Swayne 2018).

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STRATEGIC MANAGEMENT
A strategy could be referred to as the determination of the most basic longer term
objectives of a company as well as the core implementation of the courses of several actions and
the resource allocation that is required for carrying out these goals and objectives. Various
strategies are being established for setting direction, emphasizing on efforts, defining or
clarifying the company as well as providing guidance or consistency in the response to the
environment. Strategic management includes the associated concepts of strategic thinking and
strategic planning (Lasserre 2017). This type of distinct planning is highly analytical in nature
and also refers to the formal processes for producing the data and analyzing them for strategic
thinking. As a result, it helps in synthesizing the data resulting within the strategy. Moreover,
strategic planning even refers to controlling of different mechanisms that are being utilized for
implementing the strategic as soon as it is determined.
The formulation of strategy is done by analyses of the environment, in which the
company is operating and then ensuring a series of different distinct strategic decisions about the
procedure of company competitions (Moutinho and Vargas-Sanchez 2018). This type of
formulation ends with the major series of goals or measures for the company for pursuing.
Environmental analyses involve remote external environments, internal environment as well as
industry environment. The strategic decisions are based on of insights from proper
environmental assessments. The following critical essay outlines a detailed description on the
strategic management for the popular and significant organization in Australia, namely Telstra
Corporation Limited with relevant details and recommendations.
2. Discussion

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2.1 Brief Description of the Organization of Telstra Corporation Limited
Telstra Corporation Limited is one of the most significant and important organizations in
the entire Australia that provides telecommunications services to their customers. It builds and
even operates major telecommunications networks and market voice, mobile, internet
accessibility, pay television and any other product or service (Telstra.com.au. 2020). The
organization was founded in the year of 1975 and they had been doing business for almost 49
years successfully. The headquarters of the company is in Melbourne, Australia and they are
serving in entire Australia as well as in few parts of the world.
The major products and services of this specific organization include fixed line and
mobile telephony, Internet connection, pay television, network services and data services. More
than twenty thousand employees are working in this company at present time and the
management ensures that the employees are highly satisfied under every circumstance. Telstra
Corporation Limited has around 150 subsidiaries with Foxtel and Sensis (Telstra.com.au. 2020).
One of the major and the most significant reasons that Telstra has got success in their business is
that the strategies in this particular organization is extremely effective and are responsible for
providing several advantages to a high level.
2.2 Critical Literature Review of Key Theories of Strategy being developed and
implemented with the Relationship between Strategy, Innovation and Change
2.2.1 Defining Strategy
A strategy can be referred to as the high level plan that is being used for achieving one
and more goals under certain conditions for uncertainty. It eventually involves several subsets of
skills that includes logistics and tactics. Strategies are important as the resources available for
achieving them are extremely limited (Hill 2017). It involves setting of goals, determination of