Corporate and Functional Objectives - G-etl Telecommunications - Case Study Example

Name Professor Institution Date No of words 2004 Table of Contents Table of Contents 2 Introduction 2 Situational analysis 3 Weakness 4 Opportunities 4 Threats 5 Mission Statement 5 Corporate and Functional Objectives 6 Strategic Choices & Decision 6 Tactical implementation 8 Conclusion 8 References 10 Introduction The process of starting an organization requires a well detailed strategy. Strategic planning is the process in which the direction and making of decisions are laid out in pursuing a business venture. Through strategic planning, it is possible to determine the business future from, the current position. Technology has been advancing at a very fast rate in the modern day world. One of the sectors that have been directly benefited from this is mobile telecommunication. I came up with a strategy to start a mobile company. The purpose of this report is to show the strategic plan that is required in starting a venture in the business. The mobile company name will be G-etl Telecommunications. The report will cover the aspects of the new venture and will start by situational analysis, SWOT analysis, mission statement, corporate and functional objectives, strategic choices and decisions and finally look at the tactical implementation. Situational analysis Situational analysis refers to the ways in which one is able to understand the organization environment both internal and external. Mobile phones markets have been expanding at aver y high rate with major expansion in technology. Most of the product consumers want a device that can be easily integrated with other devices. The current market has a lot of major players who have been able to take a huge market share. The main competitors in the market include Nokia, Samsung, Apple and Motorola. These companies have been in the mobile market for a long time. Looking for example at a company like Samsung, they have managed to come up with mobile phones which have excellent features. Their main target market is middle income earners since they have made mobile phones which they can afford. The competitive advantage that Samsung have is the fact that they have established a wide market. The companies also have an advantage due to their brand name. Nokia have also been able to have a wide market due to their strong brand name. Having a well known brand name is one of the advantages that the competitors have in the market. Apple has a competitive advantage in that they have a strong customer base obtained through market segmentation (Abbass & Akram, 2010). My company will manufacture and distribute its products through retailers. The marketing will also be done through online stores. The mobile industry is unpredictable as it is based on technological advances. The rapid change in the technology world can affect the market and hence jeopardize the venture. To be able to make profits in the industry, one has to keep in touch with the latest technology. In order to analyze the venture fully, I will use SWOT analysis. The analysis looks at the company strength, weakness, opportunity and threats. The major strength that G-etl telecommunication has is diversity in the mobile phones that it will offer in the market. The company also wants to utilize the current technology that is being utilised in manufacture of smart phones. The company also will have an advantage in human capital which will help it in making its brand. The companies also have adequate research on the market which will help it in producing state of art devices (Varnali, & Toker, 2011). Weakness The company major weakness lies in the fact that the market has been dominated by several multinational players. The company also faces inadequate technology in developing mobile equipments. Being a new player in the market, the company has not yet been able to have a strong brand name. The company also has not yet been able to venture into other countries in the globe. Having a wide market helps the company in getting higher profits as well as a competitive edge. The companies have not been able to establish a loyal customer base (Bernard, 2005). Opportunities There is rise in the mobile market in the developing countries. The company will make a target to the developing countries especially in African countries and many other countries. There is also rise in sales of smart phones by the middle income earners and the elites. This provides a great market which the company can utilize to have high sales. The network tariffs have been lowered in many countries. This means that mobile usage will increase as people will spend less in calls. The company can use this opportunity to make sales and establish a solid market (Caralli, 2004). Threats The main threat to mobile communication comes from other competitors in the industry. The mobile industries have a stiff competition based on innovation and invention. Most of the players in the companies have a strong market base consisting of loyal customers. The competition has been enhanced by the development of open source softwares such as android which have led to increase in smart phones. The customers have been left with a high bargaining power which has led to companies to working hard to satisfy them. The companies have offered the consumers with a lot of choices. In the mobile market, the consumers have the ability to switch from one company to another based on taste and preference. The landline communication is still in use in some areas which also poses some threat to mobile communication (Caralli, 2004). Mission Statement A mission statement should guide the company toward attaining the goals set. The main use is to provide a path through which the decision are made and passed. The mission statement is supposed to give reason for the company establishment. For the G-etl Telecommunication, the mission will be to come up with quality and high class telecommunication equipments for the consumers in all walks of life. The company will recognize the importance of customer in their operation. The devices that the company will offer must also be of high class and be available to everyone. Corporate and Functional Objectives The corporate objective of the G-etl Telecommunication is to be able to attain the status of being the main mobile phone distributor and manufacturer in the global arena. This is a long term objective that will be achieved through making the company name a well known brand. This can be done through making high quality devices and having a well laid out distribution plan (Conway, 2004). The company focuses is being among the top mobile phone manufacturers in the region. The company aims at getting exclusive rights to supply their products to some markets around the globe. Through this, the company will have a solid market share which will enable it to expand and offer more of its products to the market. Using well defined advertising procedures, it will be possible to make the company known to many of the customers’ world wide (Conway, 2004). The company also aims at strengthening its market position in the mobile phone arena. This will be achieved through the identification of new opportunities and acting to seize them. The company aims to capture the mobile market through the popularity of the smart phones in the market. These objectives are in line with the company mission statement. To achieve these objectives, the company aims at tapping on the growing market in the African and Asian countries. The company will make sure that their distribution network is able to reach the consumers around the globe by utilizing all marketing avenues. This will involve establishing an online mobile store which consumers can buy (Conway, 2004). Strategic Choices & Decision The current evolution of the mobile technology market requires a well defined strategic decision. In order to survive in the market, the company will use relies on low cost strategy in the mobile market. The company will offer low prices to stimulate the products demand and establish a niche in the competitive market. This is because the company has low competitive advantage in the mobile industry. The company will be required to lower its production cost through efficient facilities and minimizing the waste from the production. Using this plan, the company will be able to have high sales volume, market share driven, standardized products and good value. Since this company is in the startup, making a big impact in the market is a hard task and is highly demanding. The first step will involve looking for the target market. This will involve identifying the clientele and then marketing the product to them (Conway, 2004). The company products are aimed to be for the low income earners as well as the elite. Through identification of the place where they can be found, it becomes easier to market to them. The company will also try to use referral and loyalty services to ensure that their products gain popularity. Once the customer is satisfied, they can spread the product’s information to others. There is also need for the company to collaborate with other players in the market. Through collaboration, the company can be able to promote each other products. Seminars and workshops will also be avenues where the company will use to market its products. These are forums where the company will utilize to bring brand awareness to the consumers. The main advantage of this strategy is that the company is able to set the price of its products more easily than other firms. The company will also gain a large market share of its products. The main problem with this strategy is that the company may reduce its level of creativity and reduction of costs in very crucial areas (Conway, 2004). Tactical implementation Tactical implementation involves the understanding of what actions are required for the business to reach its goals. The company operations, production, logistics are all in the tactical implementation of the business. The company will make products of high quality that will be able to satisfy the customers’ needs. These are based on the company set mission and objectives. The production will use high quality and technological equipments in coming up with mobile devices models. The production line will have personnel in all fields. The finished products will be then distributed to the consumers through retail outlets and online stores. The main aim of the online store is to enable the company to achieve the objective of making sales globally. One of the most important aspects that the company will look at is delivery of quality products to the customers. The distribution system will be made in such a way that all the customers gain the products at the right time. The online stores will also be able to advertise the company’s products to the global consumers. The company source of finance will be long term loan and owners investment. The financial needs of the company have been calculated and taken care of by the sources. This will be enough to buy the required machinery and software for the manufacturing process. The cash will also suffice to pay the salaries for the workers in the first six months of company operation. During this time, the company will be trying to make sales so as to be self sufficient (Teece, 2009). Conclusion This strategic plan has been able to give the required plan and the way forward to starting the company. The plan was supposed to give the way forward in starting a mobile company. It has been able to do this by outlining the market analysis as well as the tactical implementation of the company. The information that has been provided gives a clear plan on how to start the company as well as the analysis. The strategic plan has been able to achieve the objective as it has given the current position and the way forward for the company. From the report, the company is viable and can be started with the current resources. The main problem lies in making the company brand to be known globally by the consumers. The report has given a detailed online plan on how the company can achieve global awareness. For the company to achieve the objectives, it has to follow the detailed strategic plan. This strategic plan is the main tool in setting up the venture. References Abbass, A & Akram A 2010, ‘Mobile Marketing: Examining the Impact of Trust, Privacy Concern and Consumers’ Attitudes on Intention to Purchase,’ International Journal of Business and Management, Vol. 3, p. 28-41. Bernard, S 2005, An Introduction to Enterprise Architecture, 2nd ed. Bloomington, Author- House. Caralli, R 2004, The Critical Success Factor Method: Establishing a Foundation for Enterprise Security Management, Software Engineering Institute, Carnegie Mellon University. Conway, M 2004, Scenario Planning: An Innovative Approach to Strategy Development, Swinburne University of Technology. Teece, D 2009, ‘Business Model, Business Strategy, and Innovation,’ Long Range Planning, Vol. 43, No. 2, pp. 172-194. Varnali, K & Toker, A 2011, ‘Mobile Marketing Research: The-State-of-the-Art,’ International Journal of Information Management, Vol. 30, No. 5, pp. 144-151. Read More