The technological changes that the company has adopted in the past have helped it expand its operations and gain a better market share from its competitors. Compared to other companies that started to adopt the new technologies in recent years, Vodafone has gone far and that it is having a better market potential in comparison to its competitors Vodafone has strived to grow in its business as the worlds leading telecommunications and mobile network company.
Its main goal states that it endeavours to maintain a strong but conservative financial position through the implementation of new marketing strategies. With careful management of its net working capital, the company intends to strike a good financial objective in the near future and one of them is the new joint venture with the other companies (Richard, 2007). Through research and development, this company has developed new innovations in the past making it a global prowess.
Currently the company holds to its name a whooping 3,000 patents including numerous licensing agreements around the world making the most innovative company of the century. It was estimated by an annual world report that, the company in technology and innovation is ranked among the top ten companies in the world, the best in UK and second in Europe. This has put the company in one of the strategic positions to out-compete its competitors in the mobile network such as China Mobile Company (Vodafone, 2008).
The strategic and policy planning which has been adopted with reference to technological changes in the industry has incorporated the following issues; identification processes, responsibilities and products for web development and other forms of mobile communication. The company’s policy on laws and regulations has also been severely affected by legal suits that have brought the company to a lower level. Some information informative policies have not met the required strategic awareness to all the staff members and other employees in the industry.
Other policies that touch on security concerns involve copyright intellectual property which will make sure that users are restricted and know their boundaries. To implement all these policies, several additional technological advances need to be put in place first with a view to meet the policy requirements of the company (Grant, 2005). General Strategies to Vodafone’s Board of Directors New product development especially when it comes to adopting new technologies is one of the areas that need to be improved. The internet is one of the tools that are needed to be incorporated in its marketing technology.
Today, the internet has become one of the necessities that a company must utilize very much in order to meet the global market. Vodafone can in the future provide ads that could be possible to make its customers access them through the internet. The consumers of the products and services that are provided by the company can be able to download very larger materials through the internet; this is because at the moment, it can only allow simple messaging and limited downloads making it a disadvantage (Uhlenbruck, 2004). The company can also improve on its leadership structure.
It is now time to have manager and leaders to be technologically oriented with what is happening in the industry. The current crop of leaders in this company is management oriented and thus the combination of the two approaches will ensure that the company propels further. The company’s strategy that is required to meet the core principles of the objectives is to fully exploit the mobile industry market through the potential technology it currently offers (Blaszejewski and Dorow, 2003). Market and customer operations have for a long time supported the various business groups available in the company.
The other horizontal entity that has provided enough support for the business groups is the new technology platforms created to allow for the management and driving force for Vodafone products and services. These are some of the strategies that the company can implement to meet the technological challenges for the future. The company has in to develop business models, marketing strategies and new innovations in the telecommunication and network operation sector serve its consumers to the fullest and satisfactorily (Foster and Harris, 2005).
In order to implement new technologies, the company needs to extensively do internal and external research to see if the technology will be possible. GSM technology s for example was difficult to implement as it required both customer and company approval. Vodafone had formed a task force to look into the issues raised by the [proponents of the technology. The task force took looked into other policy and strategy issues which arose before and during the implementation process. The most urgent task would be to see if the company’s budget allow for its implementation
Generally the board of directors should define the company’s mission statement which will involve clarifying and analyzing this mission statement to meet the present challenges of the organization. This will offer guidelines to management of the company when considering how business should develop and in what direction, for example how it will increase its current market share to greater levels. The strategies adopted by the company should clearly direct efforts towards accomplishing the organizations basic mission or objective.
The company needs to improve on in its response to globalization. For instance Vodafone Company has responded to globalization by opening up some branches around the globe but this have not been enough as it still faces competition from other mobile operators. Vodafone Company should explore more new markets and try to be the dominant market leader in order cope with change and competition in the industry. This company requires restructuring of the entire company structure such that it is able to withstand the pace of growth in the telecommunication industry (Rosenbloom, 2004).
Organization structures of Vodafone Company should be clearly outlined such that the employees will know what they are expected from them in the course of their duties. This will lead to reduction of conflicts between management and the workers because there will be no vague policies. Vodafone Company structures should be in such a way that it fits the modern world and should be adaptable by the employees. Groups’ dynamics should also be encouraged in order to enhance cooperation among the workforce. Workers should be left to join groups of their choice to avoid conflicts that may arise (Anthony and Govindarajan, 2003).
In order to improve the organization effectiveness Vodafone Company, the management concerned should always avoid poor managerial leadership through doing away with authoritarian style of leading and instead encourage democracy to prevail in decision making that is, an all inclusive decision making structure. Also motivation of employees should be encouraged and offering of fringe benefits, house, medical, hardship allowances and other social services for example swimming pools, televisions sets will make the employees feel respected and recognized in the work place (Buck, Filatotchev and Wright, 2003).
A good communication channel should be identified by Vodafone Company in order to boost organizational effectiveness. Any barriers to effective communication that may be encountered e. g. selective perception, language barrier among others should be dealt with in order to pave way for efficient passing of messages in the workplace. The company should immediately implement the strategies that will counter competition as a result of globalization from other firms and thus the company should continue to explore new markets around the globe (Bagley and Savage, 2006) Conclusion
In a move that is seen as a strategy to develop in business volume, Vodafone Company has since its inception adopted technological changes in its departments including; new product development, better service provision, marketing and strategic planning. One main factor that has been usefully adopted methods of evaluation is the SWOT analysis. The main issues in this analysis are; Strength which is the profitability levels and the international branches the company has built abroad. The Weakness the company has experienced is poor leadership; the opportunities include globalization while the threat is competition from rival firms.
We can therefore deduce that for any firm to be successful in the market place it must formulate workable marketing plans that will eventually ensure the success of the company both in the short-run and long-run. Marketing strategies adopted by Vodafone Company should be those that go in line with the company’s mission and vision’s statements as well incorporating the issue of corporate social responsibility so that the strategies implemented are of benefit to the company, its employees and the surrounding society (Spicer, Dunfee and Bailey, 2005).
Vodafone Company should also utilize the opportunities that arise in the market place particularly in the telecommunication industry by ensuring that it fully utilizes its strengths to accomplish those opportunities. Since modern businesses are faced with stiff competition as a result of globalization, companies including Vodafone Company must carry out marketing research in advance in order to be informed with all the marketing activities in the market thus formulating market plans that will ensure profitability in the long term
Anthony, R. and Govindarajan, V. , (2003): Management Control Systems. 11th Edition, McGraw-Hill, Boston Aulakh, P. , Kotabe, M. and Teegen, H. (2000): Export strategies and performance of firms from emerging economies: Evidence from Brazil, Chile, and Mexico, American Journal, Vol. 3 Bagley C. and Savage, D. (2006): Managers and the legal Environment: Strategies for the 21st century. 5th edition, Thomson/West Blaszejewski, S. and Dorow, W. , (2003):- Managing Organizational Politics For Radical Change In The Case Of Beiersdorf-Lechia S.
A. , Poznan, Journal of World Business Vol. 38 Buck, I. , Filatotchev, N. & Wright, M (2003):- Insider ownership, Human Resource Strategies and Performance in a Transition Economy: Journal of International Business Studies Vol. 34 Carter, S. and Lee, K. (2005): Global Marketing- Changes, New Challenges and Strategies. 1st Edition, Oxford Press, London Clark, E. (2005):- Power, Action and Constraint in Strategic Management- Explaining enterprise restructuring in the Czech Republic, Organization Studies 25