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Strategic Management

Introduction:
Large and reputable organisations have long known the essential of understanding the market they are serving in order to stay competitive. Strategic management allow an organisation to analyse their environments through strategic management process. This process comprises of four key steps: include assessing the current situation, making decisions and developing strategies, implementing the decisions and strategies and measuring progress (Bryant S, 1997).
Previously known as Singapore Telecom, it was incorporated in March 1992 and became a public company in October 1993 and brands itself into various entities (SingTel Corporate Info, 2008). SingTel Mobile (STM) operating in the telecommunication industry will be my selected company, focusing on analysing what are the threats and opportunities faced in STM external environment as well as their strengths and weakness internally from strategic management point of view

A strategic management point of view involves strategic management process through two essential models, “Industrial Organisation” and “Resource-based” model of above-average returns”.

External Environmental Analysis:

An external analysis identifies the implications for both the firm and the industry it operates in and is concern in the long run of the conditions of the future environment as it looks at the environment eventually and analyse its existing elements (Costa 1995).

The Industrial Organisation model explains the external environment’s dominant influence on the firm’s strategic actions. It specifies that the industry in which a company chooses to compete has a stronger influence on the performance than do the choices managers make internally. The firm’s performance is believed to be determined primarily by a range of industry properties. (Hanson, D, Downling, P, J, Hitt, M, A, Ireland R, D & Hoskisson, R, E 2008, P 14).

Macro Environmental Analysis:

General environment is a macro analysis that comprises of...