Strategic Management in Omantel Company: An Essay Example

Overview of the Company

Omantel which is a telecommunication company that was established first in Oman to offer the internet, fixed line and GSM services is facing a vast strategic management decision to ensure it continues operations. As a result of technological advancements that are rapid, the company is experiencing immense changes ranging from cloud-based non-tradition OTT to modern digital networks. Thus, the changes are affecting the company profitability and its ability to ensure the provision of telecommunications services in Oman. Thus, to effectively manage the changes taking place around the world Omantel is applying the use of an Enterprise Resource Planning (ERP) system. The implementation of the ERP system will assist the company to go through the changes in a strategic management process.

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The objective of the assignment is to determine how the use of the ERP system will ensure that Omantel Telecommunication Company can go through the modifications in the technology segment in a strategic management procedure. Therefore, the use of ERP system will allow the company to take the lead in the future market of the Oman telecommunication industry. Thus, the assignment will show how the company applied various phases in strategic management to undertake the changes and become successful in offering telecommunication services. Also, it will show how the company has changed the way it performs business through following a strategic management process.

Success Strategies

The current trends in the telecommunication service industry have resulted in changes in the business model of Omantel. Thus, the company is making use of the trends in the telecommunication to grow its business and ensure dominance in the future market of Oman. Thus, the successful strategy of the business will involve enhancing the experience of the customer in regards to services offered (Chen 2007, p. 940).

Technological Management

The success strategy will involve ensuring the company is using up to date digital equipment to provide telecommunication services to the people of Oman. Through technological management, the company will be able to enhance service provision to customers efficiently and effectively (Hitt 2008, p. 214). Therefore, through technological management, the company will be able to improve its services provision that will offer a new customer experience. The improved customer experience will enable the company to enhance its services deliveries by creating new forms of opportunities in the market to cater for the high demand of telecommunication products.

The company enhanced its technological management practices through acquiring the ERP system that will change how the huge customer base in Oman are served. The strategy will ensure that in the future of telecommunication services is dominated by Omantel Company due to its competitive advantage. The competitive advantage will be as a result of using enhanced and modern technologies in the provision of telecommunication services to the people of Oman. However, the use of these modern technologies is costly and will require long-term strategies to be implemented to ensure that it is successful to the business (Lasserre 2012, p. 167). The strategic management process in the company will be enhanced through the use of modern technologies. Technology management will enable the company to be successful in the future through satisfying consumer needs for modern digital products and services.

Financial Management

Financial management is a success strategy that will be used by Omantel Telecommunication Company. Also, it will determine the survival of the company in the future telecommunication market of Oman. To implement the use of modern technologies in the company will be a costly affair since the digital equipment used are expensive (Moutinho and Southern 2010, p. 183). Therefore, financial management is an efficient and effective success strategy. Hence, the company should determine a suitable financial strategy that will be sufficient to Omantel budget. The financial management is a long-term plan that will be used to determine the future of Omantel in the telecommunication sector. A well planned and developed financial management strategy will ensure that the company is more profitable.

Financial management is a long-term strategy to ensure the success of Omantel Company in the Oman telecommunication sector. The strategy of financial management to be adopted by the company should develop maximum efficiency. Also, it should ensure efficient use of the company financial resources through avoiding wastage of funds. The strategy to be implemented should ensure appropriate calculation of the budget. Besides, the cost of operations by the company will be determined by the activities carried out daily to provide telecommunication services to the people of Oman. Thus, through having financial management that is well planned and developed will enable the company to have a competitive advantage in the market (Wheelen and Hunger 2011, p.387). Therefore, financial management is an essential success strategy that should be implemented at Omantel Telecommunication.

Risk Management

The modern digital technologies have impacted the manner in which activities are carried out. Operations have been made easy and simple by the use of current technologies (Peppard and Ward 2016, p. 176). The use of the digital technologies to conduct business requires taking huge risks. Therefore, through developing a well planned and analyzed risk management will ensure that the business can be more productive and profitable. Risk management that is well planned and developed ensures that the business can cope up with any unexpected events that will take place (Stacey 2007, p.215). For the company to be more productive and successful it should have a risk management that will solve the problems that arise after implementation of the strategy. Therefore, for Omantel Telecommunication Company to achieve the strategic goals it has set to implement the use of modern technologies it out to have a risk management that is well planned.

Businesses should have success despite the shortcomings that will affect its operations through the development of an effective risk management strategy. A well-defined risk management will show the shortcomings and benefits Omantel will gain after adopting the advanced modern technologies. Also, a risk management that is developed properly will show whether the implementation of using modern technologies in the company is viable (Hill and Jones 2013, p.34). Therefore, the successful strategy of the company will be determined by the risk management that will be implemented.

Strategic Implementation

In business, implementation of strategies entails putting into action the developed plan to accomplish the set objectives and goals. Therefore, the strategic implementation of the plan developed by Omantel Company will ensure it leads the telecommunication market of Oman. The implementation of the strategies at Omantel can be viewed based on the following factors:

HR Strategies

The HR strategies at Omantel are designed in a way that will enable the business to survive in the future market of Oman telecommunication sector. Through developing HR strategies that are appropriately planned will allow the company to become more productive which ensures its profitability. The strategic management vision of the business should be aligned in accordance with the plans to be implemented to bring technological changes in the company (Canwell 2008, p.32). Thus, the plans should ensure that the future HR functions have an insight of the operations to carry out that will lead to the success of the firm. The productivity and performance of the enterprise are enhanced through implementation of well-developed HR strategies.

Properly developed HR strategies enable the business to hire staffs who will attain the goals and focused set by the business. The staffs will influence the survival of the business in the future telecommunication market due to their productivity and morale to conduct activities on behalf of the company (French 2009, p.265). HR functions have an essential role to ensure the success of the business in the strategic management process. The HR department of Omantel will hire staffs who are conversant with using the modern digital technologies making the company more productive. Therefore, HR strategies are critical to guarantee the accomplishment of the business as the firm follows the process of strategic management to adapt to the changes in the technology sector.

Strategic Innovative Positioning

In a business environment, the innovative strategic position determines how the company will be competitive in the market. Positioning strategy that is well developed enables the business to find its strength and weaknesses that will slow down the implementation of the plan. The business will determine the customer needs in the market through following a well-developed positioning strategy. Thus, understanding the areas in the market to create an innovative strategic positioning will enable the business to have a competitive advantage (Hesterly and Barney 2010, p. 212). A well-developed positioning will fulfill the long-term needs of the business through the creation of a broad customer base for the companys products and services. For instance, Omantel can create a positioning in the market by identifying itself with unique services and products in the rising socio-technological customer base.

Recommendation

Omantel Company aim is to achieve sustainable social responsibilities in the provision of services in the telecommunication sector. Thus, based on the recommendations the company will be able to gain success in the market. Developing a decision-making framework will ensure that the strategic management process is effective and efficient (Nag 2007, p.178). The quality of the developed framework will be established through determining the factors both internal and external that will affect the performance of the business. Also, the framework will analyze the internal factors that will strengthen or weaken the business operations. Thus, it will offer the business a competitive advantage that will enhance its performance.

The decision-making framework provides the business with the values and visions to meet the objective of the company. Strategic management process will involve formulating and implementing the framework to suit the needs of the customers and offer the best service experience (Freeman 2010, p. 98). The strategy that the business will use in the framework will ensure that various departments can coordinate and perform activities that will achieve the objectives of the business. The framework will develop an alternative that will be used to enhance the success of Omantel and ensure its success in the telecommunication industry.

Conclusion

In conclusion, the case analysis shows that the process of strategic management is crucial to ensure company success in a competitive business environment. The method of strategic management will enable the business to adapt to the changes taking place as a result of advancements in modern technologies (Eden and Ackermann 2013, p.122). Thus, the advanced technologies have changed the way people conduct business activities through the use of digital devices. A well planned strategic management process will enable the business to survive for an extended period in the market.

For instance, the strategic management process by Omantel which is the first telecommunication company in Oman will enable the company to change with the use of modern technology to conduct business activities. Also, the use of ERP system by Omantel Company will...