Strategic planning and implementation and strategic marketing management Essay

Strategic direction is the procedure of planning, implementing and measuring an administration ‘s scheme. Today ‘s universe is a universe of competition and sustainability of an administration in the market is its competitory strategic advantage. It is really of import to an administration to implement its well planned scheme decently on clip in order to acquire good consequence. A good determination at good clip can better the working of the administration and its profitableness.

Wipro Technologies Limited is the planetary IT concern services of Wipro Limited, a diversified company. Wipro Technologies Ltd is headquartered in Bangalore, Karnataka, India and today it is one of the largest IT Company in India. The word WIPRO is stands for “ Western India Palm Refined Oils ” and the company started in 1947 as vegetable oil trading company. Subsequently the company entered to consumer goods, information engineering, computing machine fabrication, and package development. Today Wipro has involvement in information engineering, technology, health care, lighting, and consumer attention. Wipro Technologies contributes 63 % of grosss of Wipro Ltd and it is the fastest turning concern of Wipro.

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Wipro Technologies Limited has got strong and dedicated board of managers, headed with Azim H. Premji ( Chairman ) , Girish Paranjpye ( joint CEO ) , Suresh Vaswani ( joint CEO ) , and SA Sudarshan. The major industries served by Wipro Technologies are Aerospace, Automotive, Banking, Business & A ; Consumer Services, Communication, Service Providers, Computer Peripherals, Computer Software, Computing, Consumer Electronics, Consumer Packaged Goods, Energy, Government, Healthcare, Hi Tech, Hospitality & A ; Leisure, Insurance, Manufacturing, Media, Medical Devices, Mobile Devices, Pharmaceutical & A ; Life Sciences, Retail, Securities & A ; Capital Markets, Semiconductors, Storage, Telecom, Telecom Equipment, Transportation, and Utilities. The major countries of services are concern engineering services, confer withing, endeavor application services, proving services, entire outsourcing, substructure direction services, merchandise technology services, concern procedure outsourcing, and endeavor engineering integrating etc.

Today, Wipro is a planetary corporation and holding operations in more than 31 states through 72 subordinate companies. About 100000 employees are working for Wipro Technologies Limited. Merger and acquisition are the cardinal factor to Wipro Technologies scheme of “ twine of pearls acquisitions. ” It has dedicated squad of professionals who are difficult working to run into company ‘s schemes and culturally fit to the company. In January 2009, Wipro acquired an Indian based Citi Technology Services Limited ( CTS ) for US $ 127 million.

( B ) Strategic planning is an of import thing for the success of the administration. The strategian has to concentrate on some cardinal countries while be aftering an administrations scheme. They are ; the type of goods and services the administration is traveling to bring forth, the sum of hazard the administration can take, about its clients, method of funding etc. An administration ‘s scheme planning starts with the environmental analysis and coatings with the strategic analysis. In between these two stairss at that place exists the shaping of vision and mission statements for puting up its aims and ends. Soon after the completion of the environmental analysis, the following and really of import measure is specifying its vision statement. Once the vision is defined, so the following measure is to specify mission statement which will assist the administration to accomplish its vision successfully. Then the administration will put up its aims which farther will assist the administration to accomplish its mission. The following measure is puting up of ends which are the little undertakings which combines the administration ‘s aims. Finally plan the scheme based on the above said factors to accomplish its mission and vision.

( degree Celsius ) Wipro Technologies gives its precedence to spread out its concern with a strong fiscal background and besides with the experient employee database. It has to develop its market by come ining to the new market with its bing merchandises. Besides it can develop its merchandises by come ining into the old market with its new merchandises. Company can seek the scheme of acquisition to come in in the new part. Producing merchandises in the market where it is really inexpensive and selling the same in the market where it gives maximal net incomes – Global Delivery Model. Wipro can supply Customised IT solutions in the country of engineering, Infrastructure, and R & A ; D. Wipro can be after a scheme related to service line enlargement, quality leadings, and puting in human capital.

( vitamin D ) It is really of import for every administration to hold a good selling scheme in order to confront competition in the markets. In order to develop a good scheme, the strategian has to carry on environmental analysis. There are two types of environment to each and every administration viz. internal environment and external environment. Internal environment includes its direction, employees, trade brotherhoods, internal clients and internal providers. External environment includes clients, providers, political parties, economic and societal factors, and authoritiess. SWOT analysis, PEST analysis ( STEEPL analysis ) , Porter ‘s Five Forces analysis, SLEPT analysis etc. are the chief tools used for the environmental analysis. SWOT analysis is used to happen internal environmental factors where as PEST analysis or Porter ‘s Five Forces analysis etc. can be used to place external factors which affect the administration.

SWOT Analysis:

Strengths: Wipro Technologies has a strong Research & A ; Development ( R & A ; D ) flying which gives competitory advantage in the industry. This R & A ; D is capable to convey new advanced merchandises and services to the industry. Wipro turning as one of the large IT participant in India with a strong support of big experienced employee base and Retention of the man-power is the best in the industry. The company has a strong fiscal public presentation over the old ages. Wipro is concentrating on Global Delivery Model ; bring forthing where there is least cost for production and merchandising at where there is maximal profitableness. It has a relatively really low receivable with industry norm. Wipro has strength in the proficient / development-focused elements of SAP execution every bit good as peculiar strength in SCM, HCM, and BI.

Failings: Wipro Technologies chiefly depends on foreign markets particularly US and the current fiscal decelerate down severely affected Wipro. It lacks its focal point on clients and finally it leads to lose its clients. Since its focal point on foreign markets the currency fluctuation is impacting its grosss.

Opportunities: Wipro Technologies is holding the range of enlargement of its concern both abroad and domestic markets. It is holding a range in the branded merchandise class where none can replace Wipro. Its R & A ; D can use latest engineering which will be a great advantage for the company in the IT industry. During the finance decelerate down, IT sector is holding a roar and it is a good chance for Wipro. Company is holding a huge chance in the emerging engineering and consultancy countries.

Menaces: Emerging little IT companies are large menace to Wipro Technologies and it increases the competition in the market. They can run in the market with few experient employees and therefore their cost of operation is really low comparison to large IT companies like Wipro. The variegation of other transnational companies into IT sector is besides a menace to bing companies. The uninterrupted addition in the cost of human capital and lag in the US economic system are besides become a menace to Wipro. Fluctuations in the currency rates will do troubles in every house which has presence in the abroad markets. Changes in Torahs and ordinances, concern criterions are besides a menace to the company.

PESTLE Analysis:

PESTLE Analysis stands for ;

P – Political

E – Economic

S – Sociological

T – Technological

L – Legal

E – Environmental

It is a tool used to understand full environment of the administration where it operates. This provides inside informations about the administration whether it is turning or diminution, what is its place, what is the hazard involved in its operation, etc.

Political: It gives the inside informations about what are the political effects in the markets. It is all about the authoritiess and its policies, regulations and ordinances, revenue enhancement policies, labour Torahs, environmental policies etc. Since Wipro Technologies is a planetary IT concern company, it has to faces all the above factors otherwise in different states.

Economic: It tells about the economic system where the administration operates. It identifies the nature of the economic system, whether it is turning or under recession. Today economic system is under recession and therefore Wipro Technology as like all other administrations is confronting troubles.

Sociological: This speaks about the cultural and societal norms of the environment where the company operates. It gives thought about lifestyle, gustatory sensation, wellness, and age group about the people who lives in the market where the company operates. It is really of import for Wipro Technologies to be after its selling scheme.

Technological: This gives inside informations about the emerging engineerings in the markets and it will assist the administration to update its engineering. A technological service company like Wipro it is really of import to aware about latest engineerings in order to prolong in the market. Customers are anticipating an advanced merchandises and services from Wipro and it has to carry through their outlooks. Technological analysis will assist Wipro to do a good selling scheme.

Legal: This analysis helps the administration to understand what are the alterations go oning in the statute law. Since Wipro has planetary nowadayss, it has to thoroughly understand the Torahs and ordinances of each part.

Environmental: This all about the environment of the administration. It gives clear cut thought about the environments wherever the administration has its nowadayss.

Undertaking 2

( a ) Selling scheme is really of import for every administration which is taking competitory advantages and growing. There are four general selling schemes in the market. They are ; enter in the new market with new merchandise which is known as variegation, enter in the new market with its old merchandises and it is market development, enter in the old market with its new merchandises and which is known as merchandise development, and the scheme of come ining in the old market with old merchandises is called as market incursion. Each of these schemes involved its ain hazard and it varies from scheme to scheme.

At Wipro Technologies, it has to concentrate on merchandise development, variegation, and market developments. Its major markets like US is under the economic decelerate down and cut downing its outgos. It will cut down its gross and therefore it is non profitable to travel with market incursion. Since Wipro is a diversified company and it has nowadayss in many countries, it is really easy for the company to concentrate on variegation. Wipro Technologies availed with new marketing options such as new client acquisition in the emerging economic systems particularly Europe and Asia. It is focused to increase its gross by supplying high-end services to its clients globally. Wipro continuously supervising its environment through web based monitoring. In the last fiscal twelvemonth, Europe is the major subscriber to Wipro ‘s gross.

( B ) Wipro Technologies have got supportive and advanced stakeholders which include its boosters, experienced employees, stockholders, fiscal establishments, authorities, providers, and clients etc. Management is the organic structure who drives the administration and their involvement on the public presentation and growing of the administration. They will be after every thing with the same end, growing of the administration. Tax benefits and all other income receivable from the administration is the involvement of authorities on that administration. Suppliers involvement in the public presentation and growing of the administration so that they can anticipate more orders and timely reception of the payments. Customers got their involvement on the company in order to guarantee quality, monetary value and client services. Employees are the group who has greater duties in the administration. They are focused on their benefits such as inducements and fillip, and growing ; therefore they are taking administration ‘s growing and profitableness. Trade brotherhoods are the group who works for employee ‘s satisfaction and they are the representatives of the employees in the administration. Stockholders are the existent proprietors of the administration and their involvement on the fillip and dividends which they are traveling to have.

( degree Celsius ) Strategic planning is a uninterrupted procedure which involves the support and difficult work of many sections in the administration. Stakeholders are besides really responsible for the development of the administration ‘s scheme. Stakeholders can take part in the development of an administration ‘s strategic planning and it will assist the administration to beef up its local ownership. Their engagement means sharing the information and encourages public apprehensions.

( vitamin D ) It is clear that execution of a scheme is more or equal of import as its planning. Constructing a great scheme will non drive the administration into net income. Employees are the chief factors for the strategic planning and execution. The execution of a scheme requires alterations in the current construction of the administration. This will take topographic point one time the employees are ready to accept the alteration in their administration.

Undertaking 3

( a )

Vision is a long term position and it defines the future province of an administration. It is the reply to the inquiry “ where we want to travel? ” Since it is the long term aim of the administration, it is really of import to specify it with tonss of planning and analysis.

Mission is the cardinal aim of the administration and it helps the administration to accomplish its vision. So we can state that the mission of an administration is the manner to its vision. It can be long or short depends on the nature of the administration and its vision. A mission statement gives the way to accomplish its vision. It should be Specific, Measurable, Achievable, Relevant and Time-bound ( SMART ) .

Valuess are the focus country of an administration such as values to the clients, its employees, portion holders, and to the communities. An administration will hold many values and they can be numbered harmonizing to their precedences.

( B )

Vision: Vision of Wipro is “ to function clients with unity through innovative, value for money solutions, by using thought twenty-four hours after twenty-four hours. ”

Mission: Mission of Wipro is “ to offer services based on first substructure, industry expert accomplishments, proven process – oriented service operations that are backed by principals to guarantee the universe ‘s best manner of presenting IT substructure direction solutions. ”

Having already achieved the pinnacles of procedure and quality certificates ( through ISO 9000, SEI CMM, PCMM and Six Sigma ) , Wipro ‘s Vision is focused on achieving leading in the countries of concern, client and people.

Business Leadership: Among the top 10 Information Technology Services companies globally and the No.1 Information Technology company in India.

Customer Leadership: The No.1 pick of clients through advanced solutions and Six Sigma processes.

Peoples Leadership: Among the top 10 most preferable employers globally by making an environment of authorization, rational challenge and wealth sharing.

Brand Leadership: Wipro is one among the 5 most admired trade name in India.

Our Valuess:

Outstanding

Teamwork

Challenge

Spirit

( degree Celsius ) Every administration has to give importance to its cultural and ethical values while specifying its vision and mission. The society ‘s attitude and outlook towards the administration, their beliefs and thoughts are to be considered for the development of vision and mission. It is besides really of import to see the life style of the people, and their age group. Corporate civilization is the administration ‘s values, tradition, on traveling preparation, and imposts that make a company unique in the market.

( vitamin D ) Critical success factors to accomplish administration ‘s vision, mission, and scheme starts with its planning and execution. Wipro Technologies R & A ; D, fiscal strength, big employee base, planetary bringing theoretical account are the competitory factors towards its vision and mission. Well planned and implemented scheme will take the administration into its growings and success.

Undertaking 4

( a ) Wipro Technologies is a planetary IT concern company and hence its major part of concerns from foreign markets. Abroad clients of Wipro are reduced their disbursement due to the fiscal recession. Since major portion of Wipro ‘s gross from abroad markets, it affected the company really earnestly. Fluctuation in the currency exchange rate becomes really hard to Wipro since its financess all receivables are in foreign currencies. But the company ‘s advanced merchandises and services are helped to given a competitory advantage in the abroad market.

( B ) Current economic decelerate down affected about all the administration including Wipro Technologies through out the universe. Every administration is seeking to cut down its affect on their operations through advanced merchandises and services, market development, and variegation. At Wipro Technologies, company chiefly focused on emerging markets where consequence of economic recession was really low. Its Global Delivery Model gave the competitory monetary value advantage comparing with other administrations in the industry.

( degree Celsius ) Wipro technologies has strong background in confer withing services such as concern consulting, procedure consulting, quality consulting, and engineering consulting. The company ‘s high spots of services are high-tech offshore outsourcing theoretical account and high quality procedure of SEI and Six Sigma. The major functional countries of Wipro Technologies are IT and confer withing services, package developments, Pharmaceutical & A ; Life Science, Healthcare, Medical devices, telecom, transit, communicating, banking, aerospace, retail, calculating, securities & A ; capital, computing machine peripherals, automotive, energy, consumer packaged goods, fabrication, and media etc.

( vitamin D ) Wipro ‘s experient employees, professional direction, good established Research and Development, and fiscal strength are given the company a competitory advantage over other administration in the industry. The major countries where the company concentrates are critical to today ‘s universe of competition and economic lag. Wipro ‘s timely and within the budget completion of merchandises and services can be compete with any administrations merchandises and services. Wipro got its competitory advantage in the market by supplying Customised IT solutions in the country of substructure, R & A ; D, and IT services etc. It has focused its services to banking section, fabrication sector, and energy industry. It got its major portion of gross from Europe and its new focussed part is emerging markets. The addition in the figure of English speech production people, and cost effectivity in the emerging states start pulling most of the planetary companies.

Undertaking 5

( a ) An administration ‘s hereafter is defined by its scheme and therefore its execution is really of import to every organisation. The scheme execution is a uninterrupted procedure which requires a measure by measure action in order to finish. Each and every undertaking should be completed within the clip edge to acquire maximal consequence. It is a long clip procedure since it requires equal alterations in the organisation. Soon after finishing the strategic planning, the execution procedure starts. First the organisation has to place the resources required to implement the scheme and program it consequently. Then it can get down go oning with staying stairss.

( B ) Execution of a scheme includes several stairss and all of these stairss should be completed in the prescribed clip edge. A sample timetable for the execution Wipro ‘s scheme is given below.

Undertaking

Methods

Participants

Time

Consequence

Identify cardinal concern countries

Market Analysis and Research

External administration

3 Calendar months

Turning IT concern countries like Europe and Asia

Identify the possibilities in that turning IT concern services

Conducting feasibleness surveies

External administration

2 Calendar months

Possibility to acquire major per centum of companies gross

Promotion and Ad

Use of latest Technologies and Media

Selling Department

Continuous

Popularity and clients get noticed

Expansion of IT concern services to the identified countries

Acquisition, amalgamation and edifice substructure

Top Management

8 Calendar months

More offices, service centres, and clients globally.

Start Operation

Make usage of administration ‘s resources

Entire administration

36+ Calendar months

Strong Brand and long-standing client relationships. Enjoy with high gross

( degree Celsius ) It is really of import to measure a scheme while it being implemented. It will assist to cut down the mistakes and will assist to rectify the mistakes exist during the execution. Furthermore, the organisation has to continuously supervise the environment of the organisation, authorities and the Torahs and do necessary alterations in the earlier planned scheme. Any unexpected alteration in the environment during the strategic execution procedure will give negative consequence. So by measuring the scheme which is being implemented will assist to cut down mistakes due to expected and unexpected alterations in the environment.

( vitamin D ) An administration ‘s scheme is a critical factor for the success of the administration and it usually last four many old ages. Unless the administration is non supervising the effectivity of the scheme it may take to failure alternatively of success. It is non necessary that all the planned schemes executed and give expected consequence. There will be some divergences in the consequence and it can be corrected with timely monitoring of the scheme. It will be really easy to mend the mistakes or divergences in the scheme if it found early. After finishing few months or twelvemonth, it will non be able to do corrections and the full system, attempt, and money will go useless.