Strategy Development Tools

Running Head: STRATEGY DEVELOPMENT TOOLS 0
COMPETITIVE STRATEGY

STRATEGY DEVELOPMENT TOOLS 1
Table of Contents
Introduction................................................................................................................................2
PESTLE Strategic tool...............................................................................................................2
SWOT Strategic tool..................................................................................................................3
Porter Five Forces strategic tool................................................................................................4
Ansoff Matrix strategic tool.......................................................................................................5
Conclusion..................................................................................................................................6
References..................................................................................................................................7

STRATEGY DEVELOPMENT TOOLS 2
Introduction
For the growth of any organisation, management needs to use a set of comprehensive
strategic tools that possess an important element for formulating a plan of actions in order to
achieve strategic objective of the firm (Kuratko and Audretsch, 2009). These strategic tools
also benefit the enterprise to achieve its vision and mission efficiently considering the
dynamic business environment. For better understanding the application of these tools,
Telstra, largest Australian telecommunication firm is selected on which these strategic tools
will be applied so as to gain better insights about practical implications.
PESTLE Strategic tool
This is one of the most significant strategic analysis tools that explore relevant environmental
factors in order to reduce threats. It is also known to be a cost-effective tool that helps the
corporate in deeper understanding of their business influencers’ variables and offers practices
to grab opportunities.
Below, it is an example of this strategic tool on the Telstra organisation -
 Political factors – Pushing of various regulators policies and reforms by the
Australian government.
 Economic factors – Subdued GDP as to fall in prices of product in Australia and Nz
(Hyerczyk, 2019).
 Social factors – Increasing emigrant population that will push telecom service
growth.
 Technological factors – Raising customer service and experience by investing in
digital technology.
 Legal factors – Various reforms and practices by ACCC.
 Environmental factors – Foray into environmentally friendly battery storage
segment.