Business strategy - Essay Example

Download file to see previous pages Globalisation has led to the creation of a situation where firms are desperately trying to generate a distinction for their products and services. The present study would analyse the business strategies of Google in the wake of the turbulence in the markets. The internet search engine industry has an oligopolistic market structure with only three major players namely Google, Yahoo and Microsoft having a majority market stake (Fabos, 2005, p.189-192). The value of this attractive industry segment has been pegged at 16.6 billion US dollars as of 2010 in the North American market alone (SEMPO, 2010, p.1) Task 1 Strategic formulation Vision Corporate vision statement largely displays the direction of a company that it seeks to intent for achieving its set of objectives. The vision statement largely defines the possible future strategies of the organization. A good vision statement not only helps shareholders and customers but also seeks to induce a motivating effect on the employees of the organization (Fitzroy & Herbert, 2009, p.157). Google’s vision statement is reflected as a ten point strategic framework named as ten things. The ten point vision framework largely includes ensuring simplicity, innovation and ethics (Google-a, n.d.). Core competencies The core competency of Google is based on the aspect of the simplistic yet innovative nature of the product offering of the organization. Google core competencies lie in its ability to produce diverse product with large scale innovations that delights the users by the simple yet effective performance. The core competence of Google also comes from its unique search engine algorithm that has made it the most popular search engine of the web (Sugano, Goncalves & Figueira, 2009, p.57). Mission Statement The mission statement is a single and short statement that describes the purpose of existence of an organization (Kaplan, Norton & Barrows, 2008, p.3-4). The mission statement of Google is stated as follows: “Google’s mission is to organize the world’s information and make it universally accessible and useful” (Google, n.d.). Stakeholder Analysis Google is a public company which has its shares listed on the bourses of the NASDAQ stock exchange. The stakeholders of Google include suppliers, government, trade associations, employees as well as the employee unions. The company aims to ensure the continuous welfare of the shareholders and ensures a good return on their investments (Morrow, 2008). Environmental and Organizational Audit PESTEL PESTEL is a tool that can be used to analyse the external environment of an organization. PESTEL is an acronym that stands for Political, Economic, Sociological, Technological, Legal and Environmental factors (Johnson, Scholes & Whittington, 2008, p.65). Political Political factors largely include government polices and legislations. Google is based in USA but it also has operations and business units spread around the globe. Google is being continuously affected by legislations related to censorship of its contents and ...Download file to see next pagesRead More