Strategic Management Assignment Sample ?

Strategic Management

Introduction - Strategic Management

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The strategic management of the respective business works with the resources of the respective organization in order to achieve the goals of the concerned business. The strategic management for the various businesses involves setting the aims of the respective business as well as analyzing the internal business organization. In addition to this, strategic management also helps to examine the competitive environment of the respective business as well as evaluate the various strategies and keep a check on the role of management out the strategies of the various organizations. The respective study is based on the strategic management of Twitter and the strategies as well as approaches followed by the respective business. Moreover, the concerned study also focuses on the importance of the development of strategic management for the main player in micro-blogging.            

Question 1a: Formulation of the deliberate and emergent approach

The present strategy that is followed by Twitter is 4 ps of marketing strategy. This model of the respective business helps to enhance the various components of the concerned business's “marketing mix”. In addition to this, the model of the marketing mix is an appropriate way in which the respective business takes their new service or product in the market to increase their brand value in the present market. As per the views of Soliman et al. (2019), the deliberate strategy is beneficial for the concerned business because this strategy helps to describe the approach of the concerned business as well as the team of leadership that is used for thoughtful, planned as well as premeditated. In addition to this, most organizations make their conscious strategies by using the analysis of the data (del Carmen Pamplona and Ysunza, 2018). At the same time, the strategy of benefit is very beneficial for the respective organization for the proper establishment of their business. In addition to this, the deliberate approach helps the respective organization to strategically plan for their future business by the usage of all the important information which is available to the business. The benefits of the various deliberate strategies are as follows:

Increased business alignment: With the strategies of the long term it becomes very easy for the respective organization to align everyone towards the goals of the respective business. At the same time, the “strategy is deliberate” as well as the respective business takes a lot of time in order to develop the solutions of the concerned business. As opined by Welch and Carter (2018), the deliberate strategy also makes it easier for the respective business because it makes it very easy to communicate expectations as well as desired results. In addition to this, the strategy of deliberateness works better when it acknowledges the goals of the concerned organization (Rosenbloom and Rinscheid, 2020). At the same time, the deliberate strategy also helps to encourage alignment since they are growing to be the vision of the long-term of the respective company.

Improved predictability: Improved predictability is significant for the respective business because the deliberate strategy frequently uses the data in order to support the aims as well as decisions of the concerned business. At the same time, the advanced strategies of data-driven businesses predict the results of the actions of the business in a better manner.

Maximized success: Maximization of the success for the respective business is one of the benefits of the deliberate approach. The strategy of deliberate helps the respective business company to move ahead towards the set goals of the respective organization in order to maximize the success of their business. As per the views of Alenzy (2018), the consideration of the activities of the customers as well as planning carefully the performance of the past business, as well as the present trends in the market, helps the respective organization to design appropriate plans that work properly with the objectives as well as procedures of the Twitter.

Realized goals: Realization of the appropriate goals is significant for Twitter and it is one of the benefits of deliberate strategies. The deliberate strategies provide the respective business an opportunity in order to consider the ultimate success as well as a vision for the concerned organization (Doyle and Brady, 2018). The strategies of deliberate make it easier within the initiatives of the respective company wide. In addition to this, it also helps the respective company to align everyone with thoughtful solutions for the respective business.

On the other hand, the emergent approach deals with the view of the strategy that emerges over the time of aims collide as well as accommodate the changing reality of the respective business. In addition to this, the emergent strategy is an appropriate action model which helps to describe the strategies of the respective business which has developed over time (Paul et al. 2021). The strategy of the business balanced its goals with the changing circumstances of the concerned business. The benefits of the emergent strategy are as follows:

Market changes: The market changes are one of the benefits of the emergent approach, the changes in the current market are unexpected changes such as an unexpected increase in the demands of the services that are provided by the respective business. In addition to this, the increase in the demands for the various services of the respective business leads to the emergence of emergent strategies because the company is working to address the various changes in the present market.        

Economic changes: The economic changes are the fluctuations in the respective economy because this also gives rise to the strategies of emergent. 

New ideas: In most of the situations the strategy of emergent results in the formation of new suggestions of their employees for the new procedure in their respective business.

Limitations of a deliberate approach and an emergent approach: The major limitation of the deliberate approach is that using the strategy of deliberate is a little bit difficult for the respective business to use. In addition to this, the strategy of deliberate is difficult to use because of the present market changes and it depends on the senior managers of the respective business (Al-Sarem et al. 2019). Moreover, for the setting of goals as well as for the development of the plan. On the other hand, the major limitation of the emergent strategy is it is very unpredictable as well as the emergent strategies cannot be planned beforehand.         

Question 1b: Importance of strategic management in the social networking industry and micro blogging

Microblogging within a respective organization provides the staff with the appropriate ability in order to post short messages to everyone within the selective group or respective organization. Strategic management is very essential for micro-blogging because the management of the strategy deals with the success of the long term business. According to the view of Zignani et al. (2019), the positioning of microblogging involves a major understanding of the technology since it is all about providing various opportunities for the conversations between the various staff of the respective organization. In addition to this, the tools of microblogging allow the staff of their business to engage in conversations online. Some of the key points of the respective business include the threaded or chronological appearance of the messages. Additionally, it also includes the capacity of the post messages which are read by the other staff of the respective company as well as how they can respond to those messages. As per the study of Tarun et al. (2019), microblogging also includes the various links for the videos, documents as well as images on Twitter. In addition to the above mentioned statement, the microblogging characters also include the notifications of the emails, as well as the notifications that remind the respective users of Twitter to invite others for the usage of their app. Due to this it increases their brand value and gets more people to use their app. Strategic management is very important for the social networking industry because it helps to establish an organic and b presence, with respect to saving time as well as making sure the goals of the respective company are covered (Longhurst et al. 2020). In addition to the above mentioned statement, social networking also allows the targeted audiences to use their app as well as leaving the room for creativity as well as to make better content for the targeted audiences. The first and foremost reason for the need of a social media strategy is that it helps the respective business to establish an organic and b presence online (Ahmed et al. 2021). Moreover, the second benefit of the social network industry is implementing as well as creating an appropriate strategy that helps to save time. In addition to the above mentioned statement, having a strategy in the social media platform makes sure the efforts are working in order to support the business borders as well as be more fruitful.    

Question 2a: Critical Analysis of the Competitive Environment of Twitter

The competitor analysis of Twitter describes examining the competitors of Twitter along with benchmarking the marketing strategies that are used by them. As per the view of Köseoglu et al. (2020), in order to perform the competitor analysis of Twitter, the analytics tool of social media is mainly used for gaining enormous information about competitors. Through analysis, it is possible to get an idea of different types of posts that are made by its competitors, and further analysis is done on the distribution of likes, retweets, and engaging tweets. The respective pieces of information are counted to be precious as they will allow Twitter to improve the efforts that are made by them for the betterment of marketing.

Twitter being a well renowned social media platform consists of the minimum amount of opportunities as a comparison to the threats that they are noticed be facing recently. Moreover, the social media platform Twitter is running smoothly. There are various opportunities within the irrespective business which include appropriate communication with their customers about the various benefits of the respective business. As per the views of Al-Sarem et al. (2019), online stores have become one of the major opportunities for Twitter because there are various businesses who are marketing their products on Twitter because this respective platform has a lot of attention from the people, as well as there are many users of Twitter. In addition to the above mentioned statement, Twitter offers solutions for remote working. Moreover, the uncertain times have made various companies adopt the solutions for remote working with the help of Microsoft teams as well as zoom. As per the views of Tarun et al. (2019), Twitter increases as well as improvises the satisfaction of the user of Twitter because it reduces harassment, as well as combat misinformation as well as fake news. In addition to this, it helps to protect the uprightness of the “election-related” conversations.

On the other hand, the availability of the various opportunities, in comparison with the threats, is high which a noteworthy aspect of Twitter is. The threat to the respective business is stiff competition because in the present market there are various competitors in the social media platform. In addition to this, the competitors of Twitter are Facebook, Instagram as well as Snapchat. These social media platforms have a huge hype in the current market as these are the b competitors of Twitter. Suppression of “freedom of speech” is one of the major threats to the respective business with the pressure of the investors.            

Question 2b: VRIO Framework of Twitter

Resources	Valuable	Rare	Inimitable	Organized
Competitive Uniformity	Yes	No	No	No
Software Updates	Yes	Yes	No	Yes
Unutilized competitive advantage	Yes	Yes	Yes	No
Strength of advanced technologies	Yes	Yes	Yes	Yes
Vertical Integration of Products	Yes	Yes	Yes	Yes

Table 1: VRIO Framework

(Source: Self-Created)

Analysis

Valuable

The valuable competencies are responsible for providing assistance to twitter in making use of the available opportunities along with neutralizing threats that are obtained from both external and internal environments. As stated by Nurjanah (2021), all the functionalities of Twitter are not corporate and have social responsibilities. It has been noticed that on a daily basis, Twitter are able to successfully engage themselves in actions related to social responsibilities, which provides them with the facility of making themselves transparent. The level of innovation of Twitter is high in the case of furnishing not only services yet products as well. The coordination between Twitter and its suppliers and dealers is b and transparent as they are based on one important aspect, following criteria and standards strictly. Twitter has been successful in two important prospects of the business, such as enhancement in accessing the market and market penetration, as it has high efficiency in raising capital.

Rare

The development and possession of rare-natured competencies are done by a limited number of organizations that are present in the respective industry, altogether assisting in developing a competitive advantage for Twitter. According to Donnellan and Rutledge (2019), the operation of Twitter is present in a worldwide area which is counted to be one of the reasons behind its expansion of customer base. As a result, they are able to gain revenue from different parts of the world, and the rare resources such as global experience and global heritages allowed Twitter to expand their business as well. The working atmosphere of Twitter is innovative and working friendly as the organizational culture supports problem-solving for both its management and employees.

Inimitable

One of the main strategies used by Twitter in order to attract customers is offering a high-quality product to clients. As the quality of products is not only high yet consistent in nature, therefore it allows the customers to use Twitter repeatedly by increasing Twitter’s customer base. As per the view of Anastasya and Widjaja (2019), marketing communication is used by Twitter in a strategic manner for the induction of a higher amount of consumption. The capability of Twitter is high, which allows them to gain additional advantage of making business operations at a larger economic scale. One of the most important functions of Twitter is its cost savings, through which it becomes easier for them to highly maintain the competitive pricing in comparison with competitors such as Google and Instagram. The expansion of both brand experiences and engagement of Twitter occurred at a high level, along with the progress in engaging and offering customers.

Organized

The brand's strength and substantial strength of Twitter is high and is counted to be important as it assists them in making the realization of opportunities as well as possibilities present in the external and internal areas. As mentioned by Ariwibowo et al. (2021), one of the essential sources of Twitter is the integration and advancement of technologies used by Twitter in order to gain a competitive advantage. The technological improvisation acknowledges Twitter in maintaining its efficiency as well as effectiveness in different business operations and processes. Substantial investment is made by Twitter in a specific area, namely development and research.

Lessons for other companies

The main competitors of Twitter are Google, Instagram, Whatsapp and YouTube, which needs to learn the strategies that are used by Twitter, mainly the marketing strategies. Apart from that, Twitter has been able to successfully engage themselves in social activities daily, which is a lesson that can be adopted in order to become socially active. The inter-organizational relationship between Twitter and suppliers is counted to be another lesson bringing innovation in both products as well as services.

Question 3a: Critical Analysis of Twitter’s Strategies

Current Strategies of Twitter

One of the recent essential strategies that have been used by Twitter for marketing purposes is the marketing mix (4Ps). According to the view of Cahyonoa et al. (2020), the main aim of the marketing strategy of Twitter is to analyze the brand by using a marketing mix whose important components are place, price, promotion, and product. The different market strategies that are used by Twitter are promotion planning, product innovation, and pricing approach, which helped Twitter to gain an enormous amount of success. The other advantages that are gained by Twitter due to their recent marketing strategies applications are positioning themselves properly in a highly competitive market altogether with achieving business objectives and goals.

Through the product strategy of Twitter, it becomes easier for them to allow the users to provide their opinion by posting them online. According to the study of Lynn et al. (2020), the platform Twitter is used by organizations for promoting their products using pricing strategy through different activities such as bargaining advertisement costs. On the other hand, the distribution strategy of Twitter is exceptional as it allows people from different parts of the world, of any profession and any culture, to tweet on Twitter.

Proposed Strategies of Twitter

Twitter is already successful in different aspects of business, yet there is a necessity to implement other marketing strategies, namely diversity marketing. As argued by Grier (2020), the proposed chosen strategy for Twitter is diversity marketing, as it is in charge of recognizing the target customers of various subgroups. The classification is done based on disability, age, religion, gender, and ethnicity. Diversity marketing is different from other forms of marketing, namely marketing mix and is therefore suggested as it will allow Twitter to make use of both traditional as well as online channels for marketing purposes. In order to develop a campaign of effective diversity marketing, the primary strategy that is needed to be followed by Twitter is embarrassing diversity in the creative team on Twitter. The next activity includes making data centre pieces along with developing from the ground up.

TOWS Matrix

Factors	Descriptions
Threats	?      Huge competition in the market of social media ?      Increase of new entrants in the market ?      Inappropriate government policies against social media platforms and the internet
Opportunities	?      Appropriate communication with customers by business ?      High probability of the presence of credible accounts (Bisma, 2018) ?      Suitable integration with telecom operators
Weaknesses	?      Presence of data leaks, fake accounts and lawsuits ?      Limited amount of market share ?      Huge number of competitors
Strengths	?      The total number of active users of Twitter is nearly 29.7 million (Adinugroho and Hidayati, 2021). ?      Highly preferred by different organizations and governments for business purposes. ?      Huge popularity and b brand value

Table 2: TOWS Analysis

(Source: Self-Created)

Analysis

Threats

In the market of social media, there is the availability of multiple social media similar to Twitter, providing almost the same facilities to the users. Apart from this, one of the main causes of the increase in competition in the market is the rise of new entrants with better facilities for customers (Mietra and Wibowo, 2022). Another threat to Twitter is the laws developed by the government against not only platforms of social media yet rather the internet as well.

Opportunities

Twitter is mainly used for business purposes through Twitter, and it becomes easier for business representatives to communicate with customers easily. Therefore, it is counted to be the dominant way of communication as credit accounts are developed by business personalities.

Weaknesses

The main issue that is faced by Twitter is the increase in the number of fake accounts that are created by users of Twitter. The respective fake accounts are responsible for leaking the confidential data of different firms and individuals as well, leading to legislative problems (Gago et al. 2022).

Strengths

The total number of users is increasing day by day on Twitter, which resulted to almost 300 million in recent times. As a consequence of this, it is accepted by governmental bodies as well due to its high brand value and huge popularity.

Question 3b: Usability of SAF Strategic Model for Strategy

SAF Strategic Model

In the case of formulating the strategies, for Twitter, the most important activity that is needed to be performed is selecting the best strategy. As mentioned by Tanzil et al. (2021), the most difficult part is assessing and implementing the strategies appropriate for Twitter such that it becomes useful as well as effective for the respective organization. Therefore the first thing that is needed to be performed is making use of proper approaches by considering three fundamental aspects such as feasibility, suitability and acceptability. According to the view of the experts, the strategy primarily needs to provide justification on the adobe mentioned three important aspects. As a result of the justification and using proper strategy, the SAF strategic model is used by Twitter to select the best strategy for them.

The factor sustainability in SAF strategic model plays an important role in the identification of strategy as it is responsible for decelerating whether the respective chosen strategy is appropriate for Twitter or not. As stated by Pamu?ar and Savin (2020), for assessing the strategy's sustainability, the primary activity that is needed to be performed is asking questions related to the strategy's strength and its capability to benefit the organization. Other important questions that are generally assessed regarding sustainability are whether the strength has the potential to overcome the challenges that are faced on Twitter in recent times. As a consequence of this, another suitability aspect of the selected strategy is its efficiency in fulfilling the goals and objectives and Twitter.

The acceptability factor of the strategic model, SAF, is responsible for providing information related to the measurement of returns stakeholders' reactions and risks which occurs from a particular strategy. According to Ivascu and Cioca (2019), the expectations of stakeholders from the strategy are the reason based on which the returns are generally measured. The expectations of stakeholders are not only fixed on financial aspects; rather, they can be non-financial as well as dependent on the decisions of stakeholders. The final aspect of the SAF model is feasibility, which makes the clear decision of clearly making the strategy or breaking it down. The key to the success of Twitter depends on the availability of resources, abilities and aptitude of the organization in the implementation of the strategy. As a result, financial feasibility is assessed through analyzing as well as forecasting cash flows, different financial tests, and performing break-even analysis.

Strategies for Twitter to pursue in Future

The best marketing strategy that can be used by Twitter in the near Future is using chat bots which were not used by them previously. According to the view of Pérez-Soler et al. (2018), the respective digital tools such as chat bots have the capability to not only resolve issues rather than communicate with customers without the necessity of any kind of human interruption. Chat bots are noticed to be making integration with platforms, and the customers can be more comfortable in making interactions through Twitter. The Artificial Intelligence Chabot, namely Chattypeople, can be implemented by Twitter as it has the efficiency to provide advantages such as no need for any kind of coding knowledge. All the doubts, as well as questions that are asked by customers, can be easily and shortly answered by chat bots, along with having the capability of taking orders directly from comments.

Conclusion and Recommendations

Based on the above study it can be concluded that there is a huge importance of strategic management within the respective business because it helps to set proper goals for Twitter to improvise its brand value. In addition to this, the respective study highlights the importance of deliberate approaches as well as an emergent approach within the respective discussed organization in the above mentioned study. Moreover, the concerned study has a clear discussion about the limitations of both the approaches which are discussed in the concerned study. Based on the above-discussed study it can be stated that there is a huge importance of strategic management in the industry of social networking as well as its importance in the part of micro-blogging.

The strategic management of the above discussed organization can be improved by formalizing the process properly in order to make appropriate aims as well as objectives for the concerned organization. In addition to this, they can define the proper criteria for the decision making as well as keeping a focus on the growth of opportunities for the concerned business. Moreover, it is recommended that appropriate research needs to be done on the present market in order to visualize the strategies that the other social media platforms are following in order to make progress within the competitive market. 

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