Strategic Planning Sky Tv Ltd

Question: Discuss about theStrategic Planningfor Sky Tv Ltd. Answer: Introduction Like any other company, Sky Tv Ltd. Also focuses on developing growth strategies with a motive to increase profitability levels and ensure sustainability of the business. It is noted that the managers of the firm concentrate and tend to make the best of the Ansoff Matrix (Hussain et al., 2013). Despite being divided into four different segments, namely market penetration, market development, product development and diversification. As compared to the other strategies, the organizations management tends to effectively utilize market development and diversification strategies. According to Thijsen, Tong van Leer (2014), in order to secure a highly fruitful market at eh domestic level, the managers involve in studying the market and also undertake decision making that benefit Sky Tv as a whole. Concerning, market development it is noted that the management opts to sell the firm`s existing products in a new market segment. In addition to learning about the demographic, behavioral and psychographic features of the external environment, the managers also focus on integrating new promotional techniques as well. With a growth of the social and digital media, the highly expertise taskforce of the firm opts to effectively use the newly developed technologies to sell the commodities in new market sections. Figure: Market Growth Strategies and Risk Involvement (Ansoff Matrix) (Source: Grant, 2016) On the other hand, supervisors in Sky Tv Ltd also focus on integrating diversification strategies to not only ensure a intensive growth but also a high level of return on investment. It is often that along with creating new market segments the brand tends to develop new products that will fulfill the needs of the people in a better manner. As opined by Taylor (2012), despite of being risky, a proper implication of the strategy would ensure a higher rate of revenue generation. Further, to develop sustainability issues, the company is likely to invest a medium amount rate and increase profitability. Furthermore, it is noted that the management of Sky Tv also seeks expert help to effectively mix the two strategies of the Ansoff matrix. As stated by Metzger (2014), in addition to developing competencies, the firm also seeks to build up competitive advantage factors. Proper market segmentation is greatly needed for a profitable market development. Moreover, to make sure of securing expected returns the business experts of the enterprise actively builds up new distributing, promotional and marketing mix policies. Collaboration with supermarkets, product channeling agents and brokers are also taken into consideration. Also, areas of export, import, commodity designing, and development are of huge concern to the firm as well. Apart from the several mentioned activities, the managers of Sky Tv form a group with market experts to learn about the changing needs and preferences of the people (Chiang, Chen Ho, 2016). It is with a proper knowledge about the wants of the customers that the management is able to combine market development and diversification strategies. In order to grow intensively, Sky Tv concentrates on a disciplined planning, controlling and managing of the two strategies of the Ansoff matrix. References Chiang, Y. M., Chen, W. L., Ho, C. H. (2016). Application of Analytic Network Process and Two-Dimensional Matrix Evaluating Decision for Design Strategy.Computers Industrial Engineering. Grant, R. M. (2016).Contemporary strategy analysis: Text and cases edition. John Wiley Sons. Hussain, S., Khattak, J., Rizwan, A., Latif, M. A. (2013). ANSOFF matrix, environment, and growth-an interactive triangle.Management and Administrative Sciences Review,2(2), 196-206. Metzger, K. (2014). General Electric. Corporate Strategy Analysis. Taylor, E. C. (2012, January). COMPETITIVE IMPROVEMENT PLANNING: USING ANSOFF'S MATRIX WITH ABELL'S MODEL TO INFORM THE STRATEGIC MANAGEMENT PROCESS. InAllied Academies International Conference. Academy of Strategic Management. Proceedings(Vol. 11, No. 1, p. 21). Jordan Whitney Enterprises, Inc. Thijsen, T., Tong, T., van Leer, J. (2014). Ansoff Model.Marketing.