Strategic Management: Formulation, Analysis, and Evaluation

This document provides an overview of strategic management, including strategy formulation, analysis of the competitive environment, and evaluation of strategic capability. It focuses on the case of Twitter and discusses the deliberate and emergent strategic approaches used by the company. The document also highlights the importance of strategic management for microblogging and social networking industry and analyzes the competitive environment using Porter's five forces model and PESTEL analysis. Finally, it evaluates the strategic capability of Twitter using the VRIO model and SWOT analysis.

Strategic management
Table of Contents

INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
1. a) Strategy formulation approach.......................................................................................1
1. b) Importance of development of strategic management...................................................3
2. a) Analyse of competitive environment.............................................................................3
2. b) Evaluation of strategic capability...................................................................................6
3. a) Recommended Future strategies....................................................................................8
3. b) Use of SAF model for justification of chosen strategy................................................10
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................12

INTRODUCTION
Strategic management forms a vital and important part of any organisation as it consists
of effective planning, setting objectives, analysing competitive environment along with
evaluation of internal strategies in order to come up with best ways and strategies to achieve and
accomplish set goals and objectives (Cooper, 2017). Twitter is a well known American
microblogging and social networking services that provide a platform to interact its users and
people through messages, post and tweets. The current business report is based on strategic
management that consists evaluation of main strategy formulation approach and there limitation
along with importance of strategic management. Beside this, an analysis of competitive
environment is also made along with evaluation of strategic capability with the help of VRIO
framework. At last, use of Porter’s Generic strategy is made along with SAF strategic model to
select a viable strategy that could be adopted to pursue business objectives and gaols effectively
in future.
MAIN BODY
1. a) Strategy formulation approach
The strategic formulation approach of an orgnisation basically reflects and formalize the
objectives, activities and directions of actions that are adopted by management to offer direction
to firm in order to seek firms goals through fully utilisation of its strengths and enchasing all
possible opportunities (Baumgartner and Rauter, 2017). Twitter is a global social networking
service or microbloggining service that offer a vital way to its users to interact and connect with
each other through leading a platforms for message, post and tweets. Thud, in order to lead better
services and ensure larger number of user at global level it is vital that Twitter must have some
effective approach. The strategy formulation approach of Twitter is both deliberate and emergent
an evaluation of which along with their limitations is provided below:
Deliberate strategic approach
This strategic approach is mainly associated with formal planning and consist of
strategic formation that emphasis on benefits of acting intentionally. The main principles of
Deliberate strategic approach is based on “Plan and think before act”. Thus, deliberate strategic
approach of Twitter consists of an in-depth strategic analysis followed by a detailed planning and
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design. Once the strategy is formulated by Twitter it is dully communicated with other and
properly executed in the basis of planning (Kettunen, 2015).
Advantages- The main advantage of Deliberate strategic approach consist of effective
resource allocation and organisational alignment in Twitter based on effective planning and pre-
design of strategy before implementation. Thus, implication of deliberate strategic approach
provides a clarity of purpose and unambiguous focus on set objectives for Twitter.
Limitation- The main drawback associated with Deliberate strategic approach consists of
being fixated on a specific outcome that lead to rigidity in operations of Twitter which lower its
speed of responsiveness to keep a balance with dynamic operating environment (Frynas and
Mellahi, 2015).
Emergent Strategic approach
This approach of strategic formulation is based on initial Hypothesis of market and lead
to quick assessment of feedback to revises and refinements to the strategy. The main advantages
and limitation of emergent strategic approach in context of Twitter are as follows:
Advantage- The biggest advantage of emergent strategic approach for Twitter consist of
the fact that it lead to more flexibility in strategy formulation to meet and keep balance with
unpredictable and dynamic business environment. Thus, ensures quick action and decision
making by Twitter as per the feedback and needs of users to enhance its viability.
Limitation- The drawback of emergent strategic approach is that it cannot be predicted
thus cannot be planned by Twitter thus, proper allocation of resources and organisational
management is difficult that lead to enhanced chances of chaos and conflicts within in strategy
formulation approach of Twitter (Hill, 2017).
Difference between deliberate and emergent strategic approach
Basis Deliberate strategic approach Emergent strategic approach
Planning pattern Plans for future and based on
principle if thick and then act.
Involves pattern from past,
present and future for noticing
pattern and legitimating them.
Strategy Goal Declared strategy by top
management at starting point
based on planning.
Strategy as understood on the
basis of initial market conditions
(Hitt and Duane Ireland, 2017).
Roles Top management declares Both top and middle management
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strategy and middle management
implements its
formulate and implement strategy.
The current initiatives of Twitter are based on both deliberate and emergent strategic
approach as the deliberate approach lead to better planning and framework of achieving long
term goals and objectives where as emergent strategic approach facilities better way to keep a
balance and coordination with rapid changes of business environment.
1. b) Importance of development of strategic management
Development of strategic management is vital and important for the major players like
Twitter in the microblogging and social networking industry as strategic management is a
concept that lead to effective planning and strategy formulation on the basis of estimation of
future needs to ensure better encashing of opportunity and encounter of threats to accomplish set
objectives and gaols in more efficient and effective way (Morden, 2016). Strategic management
is important for Twitter as it emphasis on forward thinking that provides clear direction and
distinct idea to move forward in an planned way that proves beneficial for an organisation’s
overall growth (What is the importance of Strategic Business Management?, 2019). Apart from
this, strategic management also emphasis on proper resources allocation and better use of limited
assets thus, ensures wise and most prominent use of resources by social networking sites to grab
promising opportunities in order to cater and attract larger number of users. Thus, it can be
evaluated that strategic management is vital for microblogging and social networking industry as
it offer better evaluation of internal and external environment that ensures encashing of all
possible opportunities through more prominent and wise use of strengths and competencies to
ensure better accomplishment of desired goals and objectives.
2. a) Analyse of competitive environment
Twitter is operating in a microblogging and social networking industry in which a high
level of competition is prevailing. Thus, to have a better analysis of competitive environment of
Twitter use of Porter’s five force model and PESTEL analysis is made that lead to better
evaluation of current opportunity and threats that are prevailing in competitive business
environment of Twitter (Meyer, Neck and Meeks, 2017).
Porter’s five force model
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Use of Porter’s five force model provides a significant framework for Twitter to analysis
its competitive environment through emphasising on five key factors on which the overall
profitability of an organisations depends (Hitt, Ireland and Hoskisson, 2016). An evaluation of
these five forces of porter’s model focused on analysis of competitive environment are provided
below along with the main opportunities and threats lead by these factors for Twitter:
Competitive rivalry- This factor basically represent the number of competitors and their
ability to affect and undercut the operation of an organisation. In case of competitive
environment of Twitter, the social networking industry is highly competitive which consist of
many players like Myspace, Instagram, etc (Porter’s Five Forces analysis of Twitter, 2017).
Thus, it can be evaluated that a high level of competitive rivalry is faced by Twitter that is a
threat for this organisations thus, it become vital and necessary for Twitter to focus on
continuous development of its social media sites and platform with new and more innovative
features.
Threats of new entrants- This threat is mainly dependent on the time and cost required
by new forms and competitors to enter a new market. With respect to social media networking
the chances and threat of new entrants is limited as a huge level of innovation and innovative
technology is required to get success in social networking that is quite difficult for a new
organisations (Hanson and et. al., 2016). Thus, it can be evaluated that threat of New entrants is
limited for Twitter as it is reached a high level of innovation and web development through
extensive use of technology that is difficult to reach and achieve by a new entrants or business
organisation.
Bargaining Power of Suppliers- This factor is basically associated with the power of
suppliers to drive up the cost of inputs required by a form and depends on the availability of
number of suppliers. In case of Twitter, the number of suppliers of technical equipments and the
one who post news and tweets and greater impressions that lead to revenue for Twitter are
limited thus, a bargaining power of suppliers is high, that is big threat for Twitter as it does not
hold much bargaining power and have to comply with rates and demands of suppliers
(Baumgartner and Rauter, 2017).
Bargaining power of Buyers- This factor is depended on the presence of number of
customers and users present within an industry. In context of Twitter the different business and
markets which run and post ads on this platform are the buyers and users of Twitter who pay
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revenue to this organisation. The power of buyers is quite high in context of Twitter as a large
number of competitors are there in social networking services thus, the buyers have a option of
switching thus, they hold a strong bargaining power that is a threat for Twitter (Peppard and
Ward, 2016).
Threat of Substitutes- It basically represent the goods and services that can be used in
place of a product or services offered by a firm. In case of Twitter, the threat of substitutes is also
very high Twitter as many close substitutes are available for users that consists of facebook,
Instagram, Google +, etc. Thus, twitter is facing a huge threat of substitutes as it need to compete
with other to gain maximum number of users at its platforms to enhance its market share
(Rosenberg and Ferlie, 2016).
PESTEL analysis
Use of PESTEL analysis is made by Twitter to evaluate about its external environment to
get a better understanding about the prevailing market situation that lead to better analysis of
present opportunity and threat in the external business environment (Twitter SWOT & PESTLE
Analysis, 2020).
Political- The political factors create a significant effect on business operation of social
media networking as lead to impact on political landscape of a nation. At present the twitter is
facing threat from political factors due to strict action of government of UK to restrict access of
many products and services that are of censor content that is limiting scope of content for Twitter
(Audretsch, 2015).
Economical- The economical environment of UK is leading opportunity for Twitter as it
is showing fast development of e-commerce due to issues recent global pandemic of COVID-19
which lead to more opportunity through emphasising on electric and online forms of data and
advertisements.
Social- The society of UK is showing a great incline towards internet and online services
thus, lead to an opportunity for Twitter thorough leading shift of users towards online
communication channels and platforms that enhance number of customers and target users for
Twitter (Carlsson, Kraus and Lind, 2015).
Technological- UK is considered as fast growing and efficient in terms of technological
factors that lead to increase in popularity of mobile apps and marketing which lead to a wider
scope of success and opportunity for Twitter along with leading more innovative and efficient
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use of AI that lead to enhanced features of platforms and websites of Twitter to attract and cater
larger number of customers.
Environmental- This factor lead to both threat and opportunity for Twitter as enhanced
online promotion of environment campaign and products lead to an opportunity for Twitter but
the power consumption of data centres and other environmental impairment and harm lead by
use of internet and networks of mobile is a threat for Twitter (McMillan and Overall, 2016).
Legal- This consists of various legal provisions and acts made by government to keep a
check on social networking sits and services. Legal factors are leading threat for Twitter as
includes many consequences associated with defamations, Impersonation or any kind of
malicious tweets along with strict privacy regulations at global level.
2. b) Evaluation of strategic capability
For evaluation of internal strategic capability of witter use of VRIO model and SWOT
analysis is made a discussion and analysis of which is provided below:
VRIO analysis
It is an analytical tool used by Twitter to have evaluation of resources and factors that
lead to enhanced competitive advantages and capabilities to gain and sustaining competitive
strength (Kenworthy and Verbeke, 2015).
Resources Valuable Rarity Inimitable Organized What is the
result?
Suppliers
channel
Yes No No No Competitive
Disadvantage
Global presence Yes Yes No No Partially
competitive
Technological
resource
Yes Yes Yes No Temporary
competitive
advantage
Human
resource
Yes Yes Yes Yes High
Competitive
advantage
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On the basis of above table it has been evaluated that the resources which falls under
valuable head are those which enables Twitter to grab or encash any opportunity and also lead
support to defend any possible threat thus, consists of factors that lead to perceived customers
value and enhance their satisfaction level. Suppliers channel, Global presence, Human resource
and Technological resource are most valuable resources of Twitter as suppliers channel that
consist of those who supply technical equipments and post and news for Twitter. The suppliers
of Twitter are quite efficient and provide it with all new and advance technology to have a better
sites and platform development. Like, IBM who supply number of technical equipments to
twitter (Koseoglu, 2016). Beside this, the users who post news and tweets are also consistent for
Twitter to have better impression and generation of revenue. Furthers, global presence, Human
resource and Technological resource are the Rarity resources of Twitter which reflects those
competencies of Twitter that could not be achieved by all companies and considered rare thus,
provides partial competitive strength to Twitter as the global presence of Twitter is quite high
and hard for other orgnisation to achieve (Pour and Asarian, 2019).
Beside this, human resources and technological factors are considered as Inimitable
resources of Twitter which are costly thus, difficult for any other organisation adopt thus, these
are the main competences which provided significant amount of competitive strength to Twitter.
The use of most innovative and advance technology is made by Twitter that provide best
platforms and user interface to customers and user of Twitter thus, it is provide a significant
competitive advantage for Twitter as it is difficult for other company to make use of such
enriched technology (Thorén and Vendel, 2019). Finally, the most vital resources of Twitter
consists of Human resource that is its Organised resource of Twitter and lead to highest level of
sustain competitive advantage as it makes Twitter better and superior than all other companies.
The human resources of Twitter consist of highly educated and qualified engineers and technical
experts that provide best possible interface and services to customers and users. Beside this,
regular training and learning programmes are also lead by Twitter to maintain the innovative and
creativity level of its employees to adopt and make use of latest technology in better way to
ensure sustainable growth and competitive strength for Twitter (Akyuz and Gursoy, 2019).
SWOT analysis
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For effective evaluation of the resources and competences of Twitter use of SWOT
analysis is made that is providing information about its internal strengths and weakness along
with present opportunity and threat.
Strengths Weakness
 Twitter is having a strong technology
platform and analytical capability that
is its biggest strength (Twitter SWOT &
PESTLE Analysis, 2020).
 Further, global brand image and
popularity as powerful marketing tool
is also a strength of Twitter.
 Presence of competent and technically
skilled workforces is also strength of
Twitter.
 Privacy concern and lack of innovation
along with complex model as compared
to other peer is the greatest weakness of
Twitter.
Opportunity Threat
 Enhanced extension of social media
marketing into e-commerce is leading
opportunity for Twitter.
 Advancement of technology is leading
better chances for Twitter to come up
with more innovative and interactive
social media platform to attract and
retain larger number of users.
 Increasing level of competition in
microblogging and social networking
industry is the biggest threat for Twitter
(Taylor, Okazaki and Mueller, 2019).
3. a) Recommended Future strategies
Twitter is currently one of the leading and well known platform providing effective social
networking services and interaction medium to its users, but still a number of challenges and
threats are faced by Twitter inc (Twitter, 2020). On the basis of above discussion about the
competitive environment and other external factors of Twitter it has been evaluated that that
overall high level of competitive rivalry and threat of substitutes is faced by Twitter that is a big
threat for its business operations and profitability making it difficult to attract and cater larger
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number of users and customers base. Further, with respect to PESTEL analysis it has been
observed that many threats regarding associated with political and legal factors along with
environmental conservation are also faced by Twitter that are mainly associated with correct use
of technology and communication of right and appropriate content (Cooper, 2017).
Further, with respect to above stated VRIO model and SWOT analysis it has been
evaluated that Twitter is many competencies that consist of suppliers channel, global presence,
technological resources and human factors that lead to sustainable competitive strength. But still
to cope up with current threats present in the business environment of Twitter that consists of
high level of competition along with threat of substitutes product, it become vital for Twitter to
adopt and come up with some new and practical alternative future strategies for its betterment
and encounter present threat (Baumgartner and Rauter, 2017). Thus, use of Porter’s Generic
Strategies had been made by Twitter to evaluate best possible strategies to overcome current
threats prevailing in the competitive business environment.
Porter’s Generic Strategies
Implication of Porter’s Generic strategies by Twitter lead to information about four main
strategies that can be adopted by an orgnisation to ensures better competitive strength and lead
effective direction of accomplishment of desired goals and objectives. An evaluation of these
four strategies in respect of Twitter is provided below:
Cost Leadership strategy- It is one of the most viable strategy to get higher competitive
strength in business environment through offering lowest price to customers and users thus,
attract larger number of clients and users. Implication of this strategy could be made by Twitter
through reducing its cost operations in order to offer reduce price for clients and users to place an
advertisements or news on its platform (Kettunen, 2015). Thus, increasing profits by reducing
costs, while charging industry-average price is a viable strategy for Twitter ti get up hold in its
business environment along with Increasing market share by charging lower prices, while still
making a reasonable profit on each sale because you've reduced costs.
Differentiation strategy- This strategy of Porter’s Generic strategies focuses on leading
superior and better features in product and services in order to attract and cater larger number of
clients and users. Implication of differentiation strategy involves making of products or services
different and superior from those of other competitors through leading more attractive features
and services (Frynas and Mellahi, 2015). Thus, adoption of differentiation strategy by Twitter
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ensures attraction of larger number of customers and users for a more better and attractive
services and interactive platforms for its users.
Cost Focus- This strategy is associated with focusing on a small or niche market through
leading cost efficiency and reduction in operation expenses. Adoption of cost focus strategy is
only useful for Twitter to attract or cater a niche target market through leading reduction in its
cost and offering lower price for clients to ensure attracting larger number of customers (Hill,
2017).
Differentiation Focus- This strategy of Porter’s Generic strategies focuses is also have
main focus and emphasis on niche and small target market through leading uniqueness and better
features in product and services. Adoption of differentiation focus by Twitter could be made to
get more customers loyalty through offering better quality and superior services to its users that
retain them for longer term and also attract new users thus, meet the objectives of enhanced
productivity and larger users along with leading better competitive strength through providing
enhanced quality services with new and innovative features (Hitt and Duane Ireland, 2017).
Thus, on the basis of above discussion the about suitable and most appropriate strategy
for Twitter to meet its objectives and achieve better competitive strength is differentiation
strategy as it lead to more superior and innovative social networking services for users that
eliminates the threat of substitutes and high competition through attracting larger number of
users for Twitter.
3. b) Use of SAF model for justification of chosen strategy
With respect to above discussion it has been observed that the biggest threat and challenges
that are encountered by Twitter are mainly associated with high competition and easy substitutes
of product. Further, it has been also evaluated that the recent situation of COVID-19 has lead to
an enhanced opportunity for Twitter to garb and attract attention of larger number of users and
customers through leading an effective platform for discussion and interacting about various
issues and implication if this Global Pandemic (Morden, 2016). Apart from this, the regular
advancement and up gradation in field of technology also lead many ongoing opportunity for
Twitter. Thus, on the basis of discussion about four main strategy of Porter’s generic model, the
most viable and suitable strategy for Twitter consist of Differentiation strategy (Meyer, Neck and
Meeks, 2017). For having a better evaluation and justification for selection of a viable strategy
use of SAF model is made a discussion of which is provided below:
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SAF model
Use of SAF model is made by Twitter to adopt and chose best possible strategy for its
future to ensure higher competitive strength and implication of objective of enhanced users and
productivity (Hitt, Ireland and Hoskisson, 2016). Thus, evaluation of four main strategy of
Porter’s Generic strategies are made with the help of three main components of SAF model that
yield better justification and verification for selection of a viable option and strategy.
Suitability- This a vital factor that analysis the suitability of an option in context of
expectations and capability of organisation. In respect of Twitter the expectations of stakeholders
and managers consist of leading higher competitive strength at global level and enhanced
number of users thus, adoption if cost focus or Differentiation focus is not viable and appropriate
for Twitter as they emphasis only on a niche or small market. Further, cost strategy emphasis on
efficiency in business operation through reducing expenses that is mot viable for Twitter as its
competitors like facebook, Instragram, Goggle+ etc are also offering their services at minimum
prices (Hanson and et. al., 2016). Thus, the most viable strategy for Twitter is Differentiation as
it is the one that focuses on leading some better features and innovation in services of Twitter
that makes it different and better than all other competitors. Thus, Differentiation strategy is most
suitable and justifiable to meet the expectations of Twitter through leading higher competitive
strength and enhanced users for more attractive and innovative platform and social networking.
Acceptability- This factor evaluate and verify an option on the basis of measuring return
and risk associated with adoption of a strategy. With respect to Twitter, implication of
Differentiation strategy lead to higher return through ensuring better services for users that lead
to higher retention and also attract new users for more innovative and attractive social
networking services thus, lead to high and better return (Baumgartner and Rauter, 2017). Beside
this, the risk associated with Differentiation strategy is also limited as the cost of adopting new
features and innovation is not much high as compared to return that Twitter would get through
implication of this strategy. Thus, it can be evaluated that Differentiation strategy is acceptable
for Twitter as the return associated with this strategy in form enhanced competitive strength and
larger number of customers is much more than the risk and expenses associated with its
implication.
Feasibility- It consists of evaluating a chosen option in the basis of available resources,
aptitude and abilities of an orgnisation to evaluate whether implication of a strategy is possible or
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not in practical way (Peppard and Ward, 2016). With respect to Twitter it has been evaluated that
it is rich in technology and also having a competent and technically skilled workforce thus, the
adoption of Differentiation strategy is feasible for Twitter as it support better innovation and
attractive features and services to attract and cater larger number of customers.
Thus, on the basis of above discussion it can be evaluated that adoption of Differentiation
strategy by Twitter is justifiable as it seemed most suitable, acceptable and feasible as meet
expectations of shareholders through enhancing competitive strength and number of users and
also lead more return as compared to associated risk along with meeting feasibility and internal
competencies of Twitter that also support enhanced innovation and advancement in technology
to cater and attract larger number of customers (Rosenberg and Ferlie, 2016).
CONCLUSION
On the basis of above business report it has been summarised that Strategic management
is a vital concept that mainly associated with the formulation and implementation of major
strategy and initiatives taken by an organisation to achieve set goals and targets in an effective
manner through implication of both deliberate and emergent approaches. Further, it can be
concluded that use of Porter’s five force and PESTEL analysis facilitates better evaluation of
external environment along with leading information about competitive business environment
and prevailing threats and opportunity. Beside this, it has been also evaluated that VRIO model
lead to better implication and evaluation of strategic capability of an organisation along with use
of SWOT analysis that emphasis on internal strengths and weakness of a firm along with leading
information about present opportunity and threat. Finally, it can be summarised that Porter’s
Generic strategy lead to adoption of a suitable strategy along with SAF model that lead to better
evaluation and justification for selection of most appropriate and feasible strategic strategy for
future betterment an organisation.
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