Year of Graduation
Competitive Strategic Development of a Tech-Based Firm
This paper deals with the competitive strategy development process in tech-based firms. It is assumed that IT organizations strategize specifically due to the nature of a business they are in. Thus, default and generic methods of developing competitive strategy may not work in such cases and there is a very urge need to behave agile and modify strategy ‘on the go’. It means that the analysis of external factors should be highlighted and conducted profoundly to ensure the right response on these factors. Internal and external factors were analyzed using classic methods like Porter's five forces, PEST and SNW. A survey was established to grasp preferences of current clients of the company ‘Red Circule’. History of the firm, its organizational structure, finances and competitive strategy were studied. This information was later used for the development of strategic recommendations using methods like SWOT and M.Porter model.