Paper Topic:

strategic management

Moneygram Strategic Management

Introduction

Business administration and management characterizes the process of leading and directing the systems within an organization by exhausting available resources extensively so as to achieve the objectives of the business operation (Cemal , and Keskin , 2003 . It most of the time includes the conceptualization of business plans and monitoring its execution for assessment and evaluation of the efficiency and effectiveness of the business transactions . Strategic management is the process of identifying and enumerating the aims of the organizations in to come up with sound business policies and

plans from which the profit of the business organization will be fully maximized (Appelbaum St . Pierre Glavas , 1998

The advances in technology and the fast modernization of the world , in general , opened new and very promising avenues of business opportunities not just in an individual 's locale but also abroad . A lot of business-minded individuals from different countries with different nationalities and cultural orientation have and continuously defied the geographic boundaries that exist between continents . This is evident in the growing number of internationally-operating business firms all over the world run by entrepreneurs of varying race and culture . The information man has successfully rebelled against intercontinental bs and the challenge that confronts him the most , deals with how to fit and blend in the new cultural environment in which their businesses are situated

This presents critical analysis and discussions regarding the management strategies and options of the case of Moneygram in line with the money transfer market liberalization . As such , the business strategies of the company were examined along with the confounding variables that directly and indirectly affect the entire management and operations of the business enterprise

SWOT Analysis

Strengths . Along with the Money transfer market liberalization Moneygram was granted exclusive markets weighing up to 50 grams instead of the 100 grams allowance . This opened possibilities for a 5 increase in revenue of the company . Since the restructuring and the commercialization of the formerly state-owned business was made possible through legal changes on the overall structure of the services , the changes that transpired within the company are supported by the law . The company highlighted the improvements in the business aspect of the organization through modern technological infrastructure to modernize the company . These technologies make it possible for the business organization to function efficiently and serve the large customer-base who depends on the energy products and services of the general public as well as the commercial establishments in the region (Hunter , 2003 Extensive investments in automation and standardization of the management improved the quality of the services offered and the value of customers being served . Since the operations and projects initiated by the company are conducted and facilitated following the international standards , the products and services it offers are controlled and monitored with the aim to maintain quality and reliability through the certifications that the organization was able to earn

Weaknesses . However , the Money transfer market liberalization resulted to increased number of competitors in the domestic as well as...

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