The brains of industry leaders has engaged by tactical thinking for centuries. There are so many books and studies have been done to wrap the strategy topic because of its significance. Companies/Firms constantly seek to adapt active and successful strategic management to secure suitable expansion and stay competitive.
Any organization mainly those working in construction, strategic management is essential, where there is a swiftly shifting environment with difficult contest and surprises which may act as serious intimidation to organization steadiness.
PURPOSE OF STUDY
My quest for this research work is to investigate the existing elements of Strategies of the company. These strategies would also correspond to the local requirements of Pakistan. The different companies have their different ways to target the market. My interest for this report is to target the Strategic management aspects of the company in reflection to local conditions and evaluate the efficiency of current setup and in the light of study present some recommendations.
Let's have a look on some brief introduction of the company.
Powertech is one of the leading Telecommunication Infrastructures equipment providers in Pakistan. It was emerged in 1990 with the view to introduce and provide with latest state of the art technologies in Pakistan from the top leading globally acclaimed Manufacturer.
Powertech deals in procurement, supply and installation of telecommunication infrastructure equipment where as its sister concern "M/s. Powertech Engineering Solutions" provide complete engineering services and solutions to the telecommunication sector of Pakistan
This is a matrix based organization. company has functional and project based integrated departments. Company has line managers and dotted manger concept.
Vision and mission
Our organizations official manifesto, our Way, emphasizes the speed and flexibility of decision-making in a flat networked organization, although the corporation's size necessarily imposes a certain amount of bureaucracy.
Our core Values were Customer Satisfaction, Respect, Achievement, and Renewal. In May 2007, we redefined its values after initiating a series of discussions inside are company as to what the new values of the company should be. Based on the employee suggestions, the new values were defined as: Engaging You, Achieving Together, and Passion for Innovation and Very Human.
At Powertech Engineering Solutions, they understand that they have responsibilities not only to our shareholders and customers, but also to all stakeholders, including their employees, their business partners and the environment.
They meet these responsibilities in a number of ways including a stringent Code of Conduct. Every employee of Powertech Engineering Solutions is expected to act according to the highest possible ethical standards. Acting with integrity in everything we do will be a core part of the culture of Powertech Engineering Solutions, as it is this that will define our reputation and long-term success.
In all aspect of culture they are quiet distinguishable from their competitor organizations.
They have functional departments and project based department. They have three level of management, which are as under stated
Board of directors
Head of departments
All the strategic planning and decisions taking are done by top management with help of head of departments. Head of departments are always making the policies to their respective departments in accordance with the top management vision. Further more, the lower managers define instructions or plans for the execution of the tasks in accordance with those policies.
Culture of functional department:
Their functional departments are quite stable and have a moderate pace of work. Have less priority to project based queries. And quiet arrogant in the sense of responsibility. They have less motivation as compared to the project based teams. And always raises queries which delays the project based work, this a weak point in my opinion.
Culture of Project based department:
Their project department is quite energetic and always willing take up on any task. Have very high level of motivation and always execute as per expectations. They have much priority to the task which leads toward the company's vision and mission.
Overall culture always depicts the sense of responsibility, Customer Satisfaction, Respect, Achievement and continuous improvement cycle.
Current goals and objectives
To retain the current market share
Increase market share to the possible means
Organizational Growth and increase in net profitability
MOTIVATION BEHIND THE STUDY
The behavior of this company will be interesting to investigate in terms of Local Market. We will see how they perceive the Local Market and respond to the Conditions. Construction business has a distinctive combination of attributes that requires a classic handling in comparison to other industries. For example, the production activities are typically carry out on site and the learning curve is compromised due to the distinctiveness of projects. Therefore, the need of flexible variations to have variations to suit this industry should depict in strategic approaches and thoughts.
There is less publications are available for the strategic management approaches and models in construction Industry. This may be pass on to the truth that construction industry is considered as a stumpy development and low tech business, where the industry has a broad range of sub-sectors and variability in order.
The aim of my research is to Evaluation and redefining the Business strategies made by Powetech Engineering Solutions. This analytical and comparative work will provide some backgrounds of the working of the concerned company.
The overall object is to "examine the Powertech Business strategy and their operations regard to the strategy which are helpful to maintain or increase their market share in Pakistan". This has been broken into following sub-objectives;
Particular features Business strategy which enhances its success
How the Business Strategy of company is effective, and how can coup with the current local conditions
What are alternates available for the company to increase its stability and business.
In this process we have to examine the current operations and evaluate the business strategy and identify the alternates available.
My mission for this research work is to scrutinize the success elements of Business Strategy of the company. This study will be carried along with the sequential stages as follow;
1.3.1 LITERATURE REVIEW
The literature review will be carried in the same sequence to understand the stages of preparation and implementation of the strategic management. These contributing factors will be then concluded to analytical framework which will reflect the potential successful elements of strategic management.
1.3.2 DATA COLLECTION
Two types of data gathering method used to collect the related information for this thesis work. One is the primary sources to get the information and second is the secondary methods to gather the relevant information.
PRIMARY DATA COLLECTION
Two of my friends are requested to gather the data through observation and interview the different department and sources of the company. E-mail inbox will be used to gather the first hand information regarding the mentioned experience of two local residents.
SECONDARY DATA COLLECTION
The secondary sources are being included as World Wide Web along with the web reports and newspapers. The secondary sources are included according to the need and suitability of the research problem.
1.3.2 APPROACH FOR ANALYSIS
The analysis will be done in empirical and matrix form with the help of both primary and secondary data for the company in reflection of the analytical framework. The contributing factors of external Environment and internal environment will be provided as the counterparts and supporting pillars for the Business strategies. The analysis will be done for every individual part of the Departments and Processes but those analyses will be finally contributing to the original analysis of Business strategies
The primary focus of my study, as I stated before is "Evaluation and redefining the Business strategies made by Powetech Engineering Solutions. This analytical and comparative work will provide some backgrounds of the working of the concerned company". My interest for this report is to further target the Strategic aspects of the company as following.
Local conditions and its effect on the Business Strategy
Position of the local market.
Assessment of the current goals and objectives in relevance with current local conditions developed after global slump.
Preview of chapters
CHAPTER 2: LITERATURE REVIEW
Business strategies can be one of the convincing ways to see the understanding of the companies to the environment and consumers. In this chapter, discussion will be carried along with the sequential stages which will start from strategy formulation process. The strategy formulation process is being included in this work which contains the following
Competitive profile matrix
The grand strategy matrix
1.5.2 CHAPTER 3: METHODOLOGY
There are two main physical approachable ways to gather the related information for this thesis work. One is the primary sources to get the information and second is the secondary methods to gather the relevant information. Both methods have their advantages and disadvantages which can also be dependent on the style to approach the sources. The methods of data collection can be explained as follows.
There are two main categories of the primary data sources structured and unstructured approaches (Fisher 2004, p.133) among which my research coverage is lying on the unstructured pattern. For this purpose I will use questionnaires and interviews with company's officials.
There can be two possible types of interviews i.e. structured and unstructured which can be used depending upon the design of the research. My research is based on the qualitative and quantitative style partly in which some interviews will be done to gather products information and marketing strategies of company.
The secondary sources are being included as World Wide Web along with the web reports and newspapers. The secondary sources are included according to the need and suitability of the research problem. The secondary sources always remain the most convenient and least expensive ways to approach the data. But it has the disadvantage of its diversification due to the element of huge quantity. The selection of needed information sometimes becomes very critical along with the length of the data. Secondary sources can possibly meet the requirement of any research if the relevant data is available in the secondary sources.
1.5.3 CHAPTER 4: DATA REVIEW AND ANALYSIS
Data Review and analysis will be proceeded according to the literature review and analytical framework in different sections as below;
Industrial SWOT analysis
External Environmental factors assessment
Social, cultural, demographic, and environmental factors...
Political, government, business trendsÂ & legal factors...
Internal Environmental factors assessment
Access to natural resources
Position on the experience curve
Patents and trade secrets
Competitive profile matrix
The grand strategy matrix
These analysis will be proceed in accordance with the data gather through primary and secondary data collection method.
CHAPTER 5: CONCLUSION
In this chapter I will summarize all the findings occur through the course of study and will try to conclude these two companies marketing strategies and success rate of the incorporated elements. Further device implications and new questions arise from the study.