Strategic Management in the Workplace Research Paper

Strategic Management
Name
Institution
Strategic management
Porter, (2008), in his book defines a strategy as a plan of action by the top managers of a company to achieve a desired long term overall goal. Strategic management is a top management level duty that involves the processes of analysing, formulating and implementing the major goals of an organization on behalf of its owners. It involves assessment of company resources and the internal and external environments in which an organization operates. It shapes a company’s overall direction and specifies its objectives, develops policies and action plans to achieve these objectives and ensures efficient allocation of resources to implement the set targets (Freeman, 2010). Accordingly, this paper seeks to discuss in details strategic analysis, formulation and strategic implications in Hi-Tech IT Solutions and the recommendations to improve the company’s strategic management.
Overview of the Company
My company goes by the name Hi-Tech IT Solutions, which provides innovative technological solutions to its clients. It provides products and services like IT manufacturing, integrated technology, cloud computing, business consultation and data analytics. These have helped it grow to gain a considerable market share in competition with other giant players in the technological industry.
Strategic Analysis
Strategic analysis involves using various tools to prepare business strategies through a careful evaluation of the opportunities and challenges encountered by a company in its effort to achieve its vision and goals. It entails an assessment of the internal and external environments of a business, the internal strengths and weaknesses and the potential opportunities and threats a business may encounter and the analysis of human and social capital available to a company. A favourable outcome in the analysis of the above factors leads to a company enjoying a competitive advantage over its rivals in the market.
Internal Environment Analysis
A company’s internal environment refers to factors within a company that affect its choices and productivity and the company has control over them. These factors include strength of employees, efficient management system, organization’s mission and vision statements, leadership styles and organisational culture (Wetherly, and Otter, 2011). These factors define the company’s direction and provide a competitive advantage to a firm. The company has strong mission and vision statements, which show its desired future position. The company’s desire to be the best provider of quality I.T solutions in the technological industry remains a strong driving force to forge on. This has prompted the company to provide a wide range of quality services and also consistent market researches to identify the dynamic needs of its clients in terms of speed, accuracy and efficiency in using our products and services.
The company enjoys support from committed and well-motivated employees who value our clients and provide quality services to them. This has helped the company greatly in retaining its clients, satisfying them and increasing their loyalty to our products and services. The company’s strong lea...