Develop and implement stritegic plans Essay Example

  • Category:
    Management
  • Document type:
    Assignment
  • Level:
    Masters
  • Page:
    3
  • Words:
    1901

Executive summary

Telstra is a technology based company situated in Australia that deals with mobile phone related activities. Over the years Telstra has grown tremendously leading to expansion of its customer base to include international market. Despite the growth Telstra needs to put into consideration its future as technology evolves on a daily basis. Therefore, in an effort to ensure that Telstra remain relevant in the future this paper provide a strategic plan that will assist Telstra in maintaining its customer base (Telstra 2014). The paper looks at the objectives of Telstra which could prove quite crucial in assisting Telstra going forward. Additionally, the paper also analyses the weaknesses and strengths of Telstra with the assistance of the SWOT analysis. This ensures that the strategic plan does not leave any loopholes as this could be detrimental to Telstra moving forward. Therefore, this paper hopes that it will provide a strategic plan that would ensure Telstra relevance in the world of technology and mobile industry.

4M analysis

The 4M analysis is an analysis of the business organization that analysis the defects in the business organization that are likely to affect the performance of the Telstra company. The 4M includes Man (Humans), Machine (things), Media (environment) and management (control) in the business organization. Telesta has enough man power which is comprised of adequate personnel who are experienced in different technological fields that are relevant to the running of the business organization. Hence there is less errors resulting from human beings in the company. However, the company recently redeployed some of its staffs. This has resulted to poor service delivery and low work morale. In terms of machines, Telstra has different electronic gadgets which may have difficulties in operations. Although the company has experts, there has been challenges in operating new machines such that personnel are constantly trained to offer technical knowledge. This results to less accidents caused by the machines in the company. The management of the company is based on a bureaucratic leadership hence creating a poor working environment. This has resulted in the loss of highly skilled worker from the company.

Gap analysis

Conducting a gap analysis could prove quite beneficial to Telstra, since through gap analysis it becomes quite easy to determine the success of the company. Additionally, through gap analysis it becomes quite easy to determine the factors that could assist a corporation in achieving its success. This is achieved by looking at the present state of the company and identifying the gaps that prevent it from being successful. Therefore, gap analysis aims at ensuring that organization cover the gaps that exist within the organization in an effort to be successful

Gap analysis for Telstra

Plan of actions/proposals

Excess employees

Ensure each employee has a part to play

Re-evaluate how employees are appointed

Divided department management

Integrate all departments

Re-organization and harmonization of departments

Monopoly of income from wholesale department

Ensure every department raises income

Providing necessary infrastructure for realization of income

Poor management system

Unified and unilateral management system

Loss of competition

Regain competitive advantage

Improve the manner in which it advertises itself.

Improve customer interaction

Implementation

Implementation plays a great in the success of any given strategic plan developed by a corporate organization. This is attributed to the fact that without implementation mechanism then the strategic plan ceases to be beneficial to the organization. Therefore, it is important that Telstra comes up with an implementation mechanism that will oversee the success of the strategic plan. However, implementation is based on various factors such as availability of resources and time factor. The implementation mechanism adopted should put into consideration the period in which the strategic plan is to be executed. This ensures that the implementation mechanism adopted is relevant and suited for that particular period of time. Availability of resources, on the other hand, also plays a great role in determining the kind of implementation that is to be conducted. This is because implementation mechanism are limited to the availability of resources.

The implementation plan that Telstra can employ in maintaining customer include sending alerts to clients on the new available feature of different products, and services of the company. The plan will be communicated to all the employees of the organization through staff meeting so as to ensure that al employees contribute to the implementation of the plan. This is to ensure that there is effective communication to the employees and customers of the organization. Since the executive is key in implementation and communication of the plan, there is the need to seek the support of the managers in the company in order to offer quality products and customer satisfaction.

Review and evaluation

Telstra as a technological company has come a long way in ensuring that is capable of competing with other technology based companies. The success of Telstra can be placed on diversity of its products, which ensures that Telstra is capable of serving a wider range of customers. In addition to this, Telstra also ensure that it has the ability to embrace new technology. This is evident in their attempt to provide better network coverage by 4G band width. Additionally, the fact that Telstra is customer oriented means that it puts the needs of the customers first. This ensures that customers get what they want. Therefore, with the assistance of the strategic plan set out, Telstra has the potential to become one of the greatest technology based organizations. The key performance indicators in the review and evaluation include customer satisfaction, increased sales and profits in the business organization. In addition, the acquisition of new customers in the business organization can be used as a key performance indicator. When the customers of Telstra have increased it means that there is good management and good customer relations between the company and the clients. In addition, it means that the employees are devoted to their work in the company. Changes in the organization are discussed and communicated to all employees of the organization before implementation. This ensures easy implantation and achievement of the key performance indicators.

Evaluation of achievements

Based on the current position of Telstra among other technology based companies one could say that Telstra has made significant strides. This is evident to the number of customers Telstra has, which has risen gradually over the years. Additionally, Telstra has also been able to expand its customer range from individuals to business organization to the government. However, the success of Telstra will be based on the realization of the set out objectives. If the set out objectives are reached the measures taken will be deemed successful.

Legislation

The success of Telstra is also dependent on the existing legislation, since Telstra is required to operate within certain laws. For instance Telstra is faced with redundancy of employees. This means that redundant employees should be sacked or re-assigned to other departments within the organization. However, this could prove difficult since the laws require that an individual can only be sacked if proven they are redundant. Therefore, this poses challenges as it difficult at times to prove that an employee is redundant. Additionally, Telstra is required by law to ensure that employees work in a hospitable environment. Therefore, failure to adhere to such legislations could greatly hamper the success of Telstra.

Assessment Two

Due diligence and risk management

Due diligence refers to the process by which corporate organization conduct an audit or carry out an investigation prior to embarking on a new and potential investment. This process is important as it helps the corporate organization assess and determine whether undertaking the investment is beneficial or not. Additionally, by exercising due diligence it becomes quite easy for the corporate organization to avoid detrimental effects that could be experienced in the future. In addition to this, there are a times that organization will enter into partnerships, which could prove both beneficial and disastrous to the organizations in the partnership. Therefore, to ensure that the partnership is not disastrous to the organizations, a viability assessment is conducted. This viability assessment is made possible by exercising due diligence prior to formation of the partnership. Therefore, in line with this statement, due diligence bears a close relationship with risk management. Risk management refers to the process by which potential risks are identified and analyzed. Therefore, by exercising due diligence it becomes quite possible for an organization to determine the effect risks they are likely to encounter. This in return ensure that that they develop a solution to the risks prior to the risks attaching themselves.

Knowledge of competitors.

Competitors in any given industry have a strong effect on the success of any corporate organization within the industry. This is attributed to the fact that competitors could determine whether a company is successful or not. Therefore, competitors do impact on the profits of an organization. As a result it is important to know the operations of the competitors. Information of the competitors could be obtained from their official websites. Additionally, information regarding the competitors could be obtained from consumers within the market. This is attributed to the fact that consumers are attracted organizations that meet their expectations. Therefore, by understanding the expectations of the consumers it becomes quite easy to understand the approach undertaken by competitors in luring consumers. Therefore, with such knowledge it becomes quite easy to establish a strategic plan that would ensure a corporate organization has a competitive advantage over its rival companies.

Strategic methodologies

Corporate organization have a wide range of strategic methodologies that they can adopt in undertaking their strategies. However, choosing the right strategy methodology is dependent on various factors such as time and intended market. Markets tend to change every now and then and it is therefore, quite important that corporate organization adopt strategic methods that well suited for the current market trends. Therefore, in line with these statements, a corporate could adopt a goal based strategy. A goal based strategy refers to whereby the corporate solely focuses on the success of its products. Such a strategy focuses on the objectives set out by the organization in an attempt to ensure that its products are successful in the market. A corporate organization could also adopt an issue based strategy, which mainly focuses on the organization itself. An issue based strategy tries to look at the issues arising within the organization and how they affect the success of the organization.

Legislation and strategic planning

Legislations also plays a significant role in determining the manner in which strategic planning is to be conducted and implemented. This is to ensure that organization do not misuse their privileges when coming up with strategic plans. Additionally, legislations ensure that customers are protected, thus ensuring that strategic plans are customer oriented and are within the law.

Risk analysis and Cost/Benefit analysis

Risk analysis refers to the identification and analysis of risks that an organization may come across when engaging in a new business venture. Cost-benefit analysis, on the other hand, refers to the analysis of the cost to be used in an effort to realize a certain benefit. Therefore by integrating these two analyses it becomes quite easy to determine the success of a business venture. This is attributed to the fact that it becomes quite easy to avoid risk and factors that could lead to an increase in cost for undertaking a specific project.

References

Telstra. Telstra Home. Telstra, n.d. Web. 02 Jul 2014.