Strategic Management: Analysis of Softwire Company

This report analyzes the strategic management of Softwire Company, a leading IT firm in the UK. It examines the strategic directions, internal and external environment, and stakeholder expectations. Recommendations are provided for formulating new strategies for sustainable growth.

Strategic Management

TABLE OF CONTENTS
INTRODUCTION.........................................................................................................................1
MAIN BODY..................................................................................................................................1
Strategic directions......................................................................................................................1
Internal and External environment of the organisation...............................................................3
Stakeholder expectations.............................................................................................................7
Formulate and verify new strategies for sustainable growth.......................................................8
CONCLUSION............................................................................................................................11
REFERENCES..............................................................................................................................13

INTRODUCTION
Strategic Management can be defined as that continuous and regular process of planning,
implementing, monitoring and controlling the activities that are adopted by an organisation in
order to meet their strategic goals and objectives. It usually takes into account the regularly
changing and dynamic business environment in which the organisation operates and tries to
analyse it so that appropriate predictions can be made (Baumgartner and Rauter, 2017). Softwire
Company is a leading IT firm in UK that basically deals in providing digital solutions and
consultancy services to the top and leading brands in UK exclusively. The company solves
various queries of their clients which are usually other organisation and companies and gives
them consultancy services as well. In this report, four major aspect for understanding strategic
marketing will be done in the report and firstly the strategic direction in which the Softwire
company is going will be determined and critically evaluated. This will be followed by
conducting a thorough analysis of the internal and external environment that surrounds the
company and the industry in which Softwire is operating in UK and a critical evaluation will be
represented in the report, the report will also conduct a critical evaluation of the expectations of
the stakeholders of the company i.e. Softwire industry in the current case and in order to
conclude, appropriate recommendations and suggestions’ will be made for the company so that
the Softwire Company can adopt newer strategies that will help them in succeeding in the
business environment that they are operating in UK.
MAIN BODY
Strategic directions
Ansoff matrix is the model that is used by business to find out strategic direction of
companies. Each firm wants to grow well in the market and want to gain competitive advantage.
For that there is need to take support of effective strategy through which company can work
better and can raise its profitability to great extent. Ansoff matrix is the planning tool that is used
by management to determine the effectiveness of particular strategy so that its success rate can
be measured. Softwire is the small size technology firm that provides IT solutions to corporate
clients (Yin, 2016). Company is planning to expand business and want to open new branch in
other locations. There is need to have effective strategic direction so that it can gain success in
the market.
Market penetration
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This is the technique that is generally used by organisation to develop its brand image in
the existing market. Softwire can implement this strategy for its growth, as it is considered as
least risky tactic in which company can sell its IT services in the existing market only. Being a
small size firm Softwire has limited resources (Chereau and Meschi, 2018). Hence market
penetration tactics will give best result to the firm because firm would be able to use its existing
capabilities in significant manner, apart from this, this can support the business in maintaining its
brand image or market share in the current market well. As Softwire is well aware with the
demand of local people hence would be able to offer them products which may satisfy them. But
there is certain limitation of this method as it, limits the firm in local market only hence entity
cannot sell its products to other locations which sometimes create problem in raising profit. But
Softwire can decrease prices of its IT services in order to gain attention of more buyers. By this
way entity will be able to raise its profit and gain competitive advantage as well.
Product development
This is another strategic direction that can be implemented by Softwire to grow well in
the market. Being a small size firm, it has limited products only that satisfy needs of limited
consumers. But if enterprise develop its existing products then it would be better for organisation
to attract new buyers as well. Hence Softwire can offer new products in the current market to
attract new customers. For that entity will have to spend money in research and development and
will have to analyses market demand so that according to demand new products can be
developed. Softwire is working in UK market since longer duration hence it has great knowledge
about needs of this market. It can develop IT services to raise satisfaction level of wide range of
consumers (Ansoff Matrix, 2019).
But this strategy has limitation as well, as company has limited resources and
development of new product will require huge capital investment. This can affect profitability of
Softwire and entity might get fail to bear such high investments. There is high risk involve in this
tactic as it might be possible that entity get failed to satisfy consumers by offering new products
and services. But this strategy is beneficial as well because it increases market share of business
unit.
Market development
This is the strategic direction that can also be used by Softwire to grow well in the market
and expand business globally. Enterprise can enter into new market and can sell existing
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products to the consumers of new market. This is considered as most beneficial strategy because
entity gets chance to make contact with new consumers and provide them services. Softwire can
enter into new geographical region or can take support of new distribution channels in order to
serve well in the new market (Chereau and Meschi, 2018).
This strategy is very risky because entering into new market needs capital investment and
being a small firm it is very difficult to bear such high cost of investment. Apart from this, if
Softwire fails to make money in new market then it would be difficult to sustain in the market for
longer duration because after that company will not be able to manage cost of operations. On
other hand this is great strategy because this gives chances to increase sells and raise profit by
attracting more buyers (Yin, 2016).
Diversification
This is tactic that reflects that enterprise can enter into new market with the new product.
This is the strategy which is the combination of market and product development. This is highly
risky tactics because it needs lots of investment and also company must have knowledge about
the area in which it wants to enter. If organisation do not have adequate knowledge about the
new market, then it might get failed to sustain in market for longer duration. But this is also most
beneficial tactic because entity gets chances to sell products in new market (Verhoeven and
Johnson,2017). That means firm can generate profit from existing and new both markets. This is
great technique that may support Softwire company in gaining more profit and sustain in market
for longer duration. This is fact that the more company has capability to bear risk the more it can
generate revenues. Hence enterprise can take support of this strategic direction in order to gain
success in market and to gain competitive advantage.
Softwire is the firm that provides advance IT solutions to corporate consumers, it should
take support of diversification strategy, this would help business unit in gaining success in the
market and generating more revenues (Dawes, 2018). It has talented workforce those who are
able to work on advance products effectively and to deal with international consumers in
significant manner. Hence entity can implement this strategy to work well in the market and this
will help organisation in fulfilling its organisational goal in significant manner.
Internal and External environment of the organisation
Internal Environment comprises of the internal factors that are associated with the organisation
such as the decisions taken by the internal parties, i.e. managers, employees etc. of the company.
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In order to correctly analyse the internal environment of the company the most appropriate
strategic tools is SWOT analysis i.e. Strength, Weaknesses, Opportunities and threats for an
organisation that will help in determining the current internal environment in Softwire company
which is a leading firm of IT industry in the current market scenario and therefore, acts as a very
effective and basic tool in building the current brand image and reputation (Rothaermel, 2017).
The SWOT analysis has been done in the following table, so that newer as well as older practices
that are followed in the Softwire Company.
Strengths
 Being a prominent software company
and nationally as well as
internationally, they exercise a strong
control over their customers and the
customers associated with them is
extremely loyal to the company as well
as the services provided.
 The already scrumptious wealth and
power that is being exercised by the
company is further increased by
ensuring that the satisfied customer
base contributes to the goodwill
development of the company.
Weaknesses
 The Innovation in the products is
extremely slow and therefore they are
not able to present latest technologies in
a timely manner and often lag behind.
This has made the company more of a
follower of trends and innovations
rather than being the leader of new
trends and products.
 Another major weakness of the
Softwire company is that their response
to the problems and grievances of the
customers is a very slow procedure
(Gürel and Tat, 2017). They address all
the problems that customers are facing
but it is a very long and time
consuming process, and in today’s era
when there are so many substitutes
available, consumers might not be
ready to wait.
Opportunities
 The major opportunities in today’s
Threats
 There are many competitors that have
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market for the Softwire Company is
that government has been increasingly
developing those policies and
regulations that are in support of this
industry. These regulations will
simplify the process of carrying out
business and enter into trade dealings.
 There are an increasing number of
customers that are moving towards the
option of obtaining IT solutions on
online basis from good and credible
companies even if they have to pay
more (Korableva and Kalimullina,
2016). This can be a very profitable
venture for the company in both
revenue terms and as a growth
opportunity for Softwire Company.
entered the industry in both direct and
indirect manner. Since there has been
increasing number of frauds in the
software and online trading, the
customers are looking for those options
that are extremely secured and this is
proving to be major threat for the
Softwire company since they need to
constantly upgrade the security setting s
and this is making the entire procedure
expensive.
 The profit margin is regularly declining
in this industry since there are a variety
of free applications and the software
solutions that are available in the
market and thus they pose a risk factor
for the company.
After analysing the internal environment of the Softwire company, there is another model
in order to analyse the external environment in which the various different factors that affect the
external environment in which the company is operating are analysed and interpreted. PESTLE
Analysis will be used in order to analyse the external environment in which the Softwire
Company operates:
Political Factor: Governments in different economies in which the company is serving are stable
all over the world and are supporting the activities of the software industry. This presents an
opportunity to further diversify the company’s operation in another countries. The government is
regularly increasing the support of r promoting more and more automation amongst the people
and make everything more paperless i.e. Digitalised since it reduces the chances of frauds and
corruption as well but this is not a cake walk and there are many competitors in the industry as
well (Rastogi and Trivedi, 2016). Therefore, the UK’s political factor is although in support of
the functions or the basic purpose for which Softwire operates, yet they need to develop proper
strategies and implement in timely manner so that maximum results can be utilised.
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Economic Factor: Although the economy of UK has been fairly stable yet after the Brexit i.e.
exit of Britain form European Union, there have been frequent highs and lows leading to the
economy becoming unpredictable regarding how will the next quarter or next year go. Therefore,
the UK’s economy has although become a bit unstable but yet, it has not become redundant
altogether and continues to present a wide market for the software and automation industry.
However, this can also be considered as a good option to expand in other countries so that the
company can increase their operations (Bismark, Kof, Frank and Eric, 2018). Therefore, the
economic factor for the company is also fairy stable and can be used in favour of the Softwire
company. Strong economy and strong political factors are two of the major factors in ensuring
whether a business would succeed or not and therefore the Softwire Company, in the wider
market context shows more chances at succeeding in the market.
Social Factor: The diversity in the various cultural backgrounds and its increase in the recent
years has made the market more attractive for such industries and there is an opportunity for the
company to establish themselves successfully in the international market as well (Bromiley,
McShane, Nair and Rustambekov, 2015). Further, the level of customer service has also
increased and therefore, there are increased number of customers that are demanding for a better
service quality rather than focusing on the price and therefore, the company will be supported by
the social factors as long as the quality of their products is maintained.
Technological Factor: Since the company itself is majorly dependent on the technological
environment in the country, it is imperative to state that the company uses this factor extensively
and is also heavily dependent on it. The company can take benefit of increasing online marketing
and trade activities thus expanding their business online as well (Christodoulou and Cullinane,
2019). In UK, the automation process has currently been on rise as is the case with many other
developed countries where they are trying to incorporate as much advanced technology as they
can. Therefore, this factor presents a good opportunity for the company to expand and explore
themselves in the international market as well. This will help the company in achieving targets in
a quicker and better manner since the innovation will help n reducing the time required for
completing the tasks thus giving quicker results.
Legal Factor: the legal environment has gone stricter in terms of the waste disposal of the
industry and there have been laws that will be regulating the quantum of waste generated and
whether it is treated or not before being discharged. There has also been implementation of laws
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related to the energy consumption in the software and automation industries since these are the
major power consuming industries and these also need to be complied with. Further, the
company can also get patents and copyrights for some of it s only product with newer
technologies and therefore this factor needs to be complied with closely so that company can
continue to operate in a peaceful manner without getting involved into any legal troubles (Bonsu,
2019).
Environmental Factor: In this context, the major concern for the company and the entire IT
industry should be to ensure that the practice adopted by them are as much green in nature as it is
possible so that earth is harmed in minimum capacity. Further, the company and industry as well
can ensure that they focus more on a sustainable development rather than working solely with a
profit motive. The major benefit under this factor is that the company can easily incorporate use
of recyclable products as majority of their work is on screens and therefore, it gets easier to reuse
and recycle the waste that is generated. This will helps in managing the resources adequately and
ensuring that the consumption of the resources is not in much excess and the resources are used
in a sustainable manner.
Stakeholder expectations
Stakeholders are those parties that are directly or indirectly interested and invested in the
business activities and therefore, are keen observers of the performance of the company, its
success and failures etc. and then accordingly based on such analysis and other market reviews,
the stakeholders put stake in the company. For Softwire Company as well, there are a variety of
stakeholders who need to be properly managed in order to ensure that the stakeholders of the
company remain satisfied and loyal for the company (Andriof and Waddock, 2017). There are
two broad categories of stakeholders classified as internal stakeholders and external stakeholders.
Internal stakeholders include those parties that are internal to the organisation such as employees
of the company, Board of Directors, Managers, Performance Mappers etc. who are intrinsically
concerned with the growth of the firm. External stakeholders on the other hand include those
stakeholders that are directly associated with the company but still present the external parties
that get affected by the firs decisions and p such as customers, investors, financers, government
etc. who need to ensure that Softwire company is going n the path to success. In order to manage
the stakeholders of the company, there are four major elements that need to be complied with :
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Managing stakeholder Expectations: The managers need to understand that hat the stakeholders
of the company expect form the company and when the company will give the results that were
expected by the stakeholders will be given, the goodwill of the company will automatically
increase and the satisfaction of the stakeholders of the company will rise (Tantalo and Priem,
2016). Therefore, the company should always try to incorporate the desires of the stakeholders in
the objectives with which the company designates its objectives and functions.
Managing stakeholder Perception: The stakeholders need to be regularly informed regarding the
performance of the company and the direction in which it is going, the projects that it has
undertaken, the profits or losses that are being earned by the company i..e the entire performance
charter of the company must be regularly given to the stakeholders so that they can decide
whether they want to continue investing in the company or not (Ansoff, Kipley, Lewis, Helm-
Stevens and Ansoff, 2018).
Recording the activities of Stakeholders: Another major step that can b e taken in order to predict
the tendencies of the stakeholders and this can be done when the manager carefully and regularly
tracks all the interactions that they have had with the stakeholders of the company (Softwire,
2019). This can be done when the manager analyses their behaviour and records the results so
that it can be determined what factors led to the current mindset of the stakeholders.
Solve and resolve issues and conflicts: In case there are any problems or issues that the
stakeholders are facing and have been complaining about, then it is the duty of the manager to
ensure that all such problems are effectively addressed and the stakeholders’ grievances are
solved with the proper reason that why they occurred in the first place and within a timely basis
from the day issue is raised to the day it finally gets addressed adequately by the managers of the
company.
When the internal and external stakeholders will be adequately satisfied, it is essential
that the strategy formulated must be very strong. The strategy hence formulated is based on the
sustainable strategy that help for identifying all necessary resources require for managing and
controlling overall business operations and this has been discussed in detail in the further report.
Therefore, when the company will focus on sustainable development, it will be able to keep
stakeholders satisfied and thus achieve the desired success levels.
Therefore, these are some of the strategies to maintaining the stakeholders of the company and
these can be especially implemented by the Softwire Company (Harrison, Freeman and Abreu,
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2015). They can even use tools like issue logs which is a log recording the issues that were raised
and are categorised into separate categories based in the nature of the problem and similarly
another log i.e. Change logs is maintained under which all the changes that occurred in the
company due to the request of share holders are recorded.
Formulate and verify new strategies for sustainable growth
The concept of sustainable development has rapidly increasing in term of growing
business but it can implement new idea in business process to improve capabilities and abilities.
In order to increase human well-being in the present condition without compromising the ability
of future development that meet the specific needs (Park, Sung and Byun, 2019). It mutually
supports the approaches whenever it possible and pursuit of sustainable development thus require
for improving policy across the business sectors. Strategy planning is a crucial concept which are
more likely to be successful when Softwire firm has a long-term vision in terms of sustainable
development. it evolves the specific vision from sub-national and national aspirations.
In Softwire firm, Sustainable development means for adopting new enterprise strategies
that meet the specific need and requirement of organization. Nowadays, it also protecting,
enhancing and sustaining the natural resources which are essential for future development. The
softwire firm established the sustainable development as per specific vision that are planning the
strategies for ensuring the social responsibilities towards economic development while protecting
the resources and also beneficial for future development (Ibrahim and et.al., 2019).
A strategy for the sustainable development that will imply initiative which completely
planning strategy for business management. There are various types of initiatives which are
taken together for improving the softwire sustainable development. An effective strategy might
involve the vision and set of specific coordinated mechanism that help to improve
inconsistencies and fill the gap as per required.
Sustainable development strategy is based on the social, environmental and economic
objectives that are taking account of implications for various type of socio-economic groups in
future generations. There are different types of key sustainable development strategies
application that help for improving quality of services in global world.
 Established specific vision: This type of strategy will help for long term development
because it reflects on the vision among political, social and economic etc. in this way,
political stakeholders committed towards the vision of organization (Sinha, Sengupta and
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Alvarado, 2019). Government participate significant role which are helping the business
in terms of high-level facilities and services provided such as law related equal right. The
Softwire firm has needed to create own vision of business growth which required to
capture necessary resource that help in achieving goal. In this way, it has required to
develop specific vision of organization in marketplace. It become easier for increasing
productivity and profitability.
 Based on the solid analytical: It is another strategy that related to regional issues which
including the brief overview about the overall business situation and also forecasts risk,
trends. This type of analysis has happened on basis of reliable or credible information
that will change the economic conditions, environmental and pressures. This strategy will
help to provide overview about the objectives and indicators.
 Set the specific realistic and monitorable target: It is important approach that directly
linked with the clear budgetary priorities. Softwire firm is used the strategy which target
the challenges such as financial. This strategy will help for relation to financial and other
type of constraints. It is integrated with the process of budget and ensure an essential
resource which helping in financial that easily translate into action. This type of strategy
applicable in budget formulation within Softwire firm that easily handle operations and
functions (Mania and Rieber, 2019). in order to develop strategy that ensure plan for
achieving their goals and objectives. Formulation of budget must be formulated with
clear identification of priorities. Therefore, time limitations and capacity constraints will
have impacts on the realistic outcome and results. Sometimes, it is also challenging for
maintain relationship with other constraints.
 Implement to build in continuous monitoring and improve: This strategy is an essential
for developing the perfect mechanism and find out the track of progress, record lesson
through experiences and also determine essential changes in the organization. Softwire
firm always continuous monitoring the activities of enterprise task and analysis its
existing information where how it should be utilised in future growth. Evaluation and
monitoring required on the basis of clear indication through strategies where
automatically track records in proper manner (Sinha, Sengupta and Alvarado, 2019). It is
helping for Softwire firm to manage and control the business processes.
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 Develop an effective relationship: It is important part of Softwire firm that build a strong
relationship with other participants because they are performing specific role in process.
On the other hand, stakeholders, governmental and civil society agree on the specific
rules that implemented in organization on basis of standards. This type of strategy will
help for building an effective coordination between employee and identify the
requirement of business development in future (Sinha, Sengupta and Alvarado, 2019).
The individual participation always helping to open debate regarding new idea which
help for finding issues and problem. It is best strategy to addressed problem and
implement specific action that increase performance of organization. The central
government also involved for building proper structure but also required the processes of
multi-stakeholders. In this way, it easily coordinates with other people to exchange
information regarding growth and development
 Linking between local and National level: In this strategy, it mainly involving policy
and procedure planning. It is type of two-way iterative processes within decentralised and
national level (Sinha, Sengupta and Alvarado, 2019). It provides the right direction that
should set at central level but planning, monitoring and implementation in detailed
manner. It mainly involves trade policy, legislative changes, external relations and
international affairs.
 Develop and build an existing capacity: In the strategy, it is an essential to assess
political, financial capacity, civil society and market, capacity of potential state where it
needed the provision that should made to develop necessary capacity as a part of strategy
process (Sinha, Sengupta and Alvarado, 2019). This type of strategy should optimize the
capacity and skill in both outside and within government. Softwire firm has
implementing the new technique which help to build the existing capacity of business
activities. It also used the new technology that use for increasing the capacity and speed
to manage complete task efficiently.
Softwire firm is commonly used the sustainable strategy that make specific goals which are
required for essential to increase demand in global marketplace. This strategy is considered
all type of sustainable factors such as socio- environmental and economic objectives that are
taking account of implications for various type of socio-economic groups in future
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generations. In this way, it should adopt in the currently business task for managing and
controlling the organization in proper manner.
CONCLUSION
The research conducted in the above report helps in concluding that strategic management is
an extremely important tool in order to operate successfully in varied environments of the
company. In this report, the strategic direction of the Softwire company was determined using
the Ansoff’s Matrix and the various strategies that the company could use in order to gain
maximum advantage were evaluated in the report. Further, in this report, the internal
environment of the company was evaluated using a SWOT analysis tool as a strategic tool and
the various aspects of the company were compared with each other and the external environment
analysis was conducted using the PESTLE Analysis where all the six factors related to the
external environment of the company were studied and analysed in the report. Following this, a
stakeholder analysis was conducted in this report where different categories of stakeholders were
identified that were relevant to the Softwire company and their expectation was taken into
consideration so that a proper analysis of what these shareholders expect form the company
could be conducted. Lastly, in this report, after thoroughly analysing and studying many features
of the strategic environment of the Softwire Company, in the last section of this report,
appropriate strategies were formulated and recommended for the Softwire company which they
could implement on order to improve their current strategic position. These recommendations
were made with the purpose of fostering sustainable growth in the company that is the
requirement and need of the current hour and would hence address many of the problems and
aspects in the strategic marketing field effectively.
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