The main aim of this paper is to provide a brief outline about the strategic management of Snap Inc. The company was founded in 2011 having employee’s approx 3069 across the world. Here is the discussion about the organizational structure of the firm that is used by the company. On the other hand, it also explains the modern management approach that is used by Snap Inc. Company such as system approach. Furthermore, SWOT analysis, porter five forces analysis and pestle analysis are done by the firm to overcome the competitors.
1. Profile of the company
Snap Inc. is a social media and American technology company, incorporated in 16th September 2011 by Evan Spiegel and Bobby Murphy. It offers various products such as Bitmoji, Zenly, Spectacles and Snapchat. There are approx 3069 employees employed in the company. The company’s headquater is located in Venice city that is known as Silicon Beach. The revenue of the company is US$824.95. In today’s world, the organization is expanding and exploring the business activities and operations globally. Along with this, Snap chat is a group messaging and one to one app that lets users send video, photo and text messages that disappear after the several seconds. The company’s application is available in more than 18 different languages throughout the world. Snap chat is an image messaging application software product. Snap Inc. tops the list of the 11 most significant companies with maintaining highest valuation per headcount ratio about $48million per worker. The size of the Snapchat is 25.8MB. Along with this, the company is also involved in developing and manufacturing the spectacles adding features of camera lens. By using Snapcodes, friends have been able to add via their usernames and photo contracts. In this way, Snap Inc. has been able to be good and strong player in the market.
2. Organizational structure of the company
The organizational structure of the firm is strong and unique to attract and retain the customers across the world. The vertical organizational structure is followed by the company for proper flow of information from the top to bottom. All the decisions are taken by the top management after considering the views and opinion of middle and lower management. Top management divides the policies to run the business activities successfully. They guide and communicate with middle level management to maximize the profitability of the firm. In addition, they guide and assist the workers of how to conduct business operations in a hassle free manner. Evan Speigel is CEO and Co-founder of Snap Inc and Bobby Murphy is co-founder and chief technology officer. Furthermore, Imran khan is chief strategy officer and Mary Ritti takes care of communication activities in the competitive market. By using Snapcodes, friends have been able to add via their usernames and photo contracts. The organizational structure of the firm is detailed below.
1. Modern management approach
Management is the process of dealing with or controlling things or people in the organization. Along with this, modern management theory refers to the emphasizing and enhancing the use of systematic mathematical techniques in the system by evaluating and knowing the interrelationship of management and employees in all aspect. There are various theories are initiated by the company including systems approach, situational approach, team building approach and Chaos theory. One of the significant theories of the modern management is system approach. System theory is based on the generalization that everything is inter-dependent and interrelated. The benefits and drawbacks of system theory are discussed below.
Benefits
Drawbacks
By explaining the distinctive rituals, symbols, power, stories, control systems and organizational structures, the firm can maintain favorable working environment at the workplace. Johnson and Scholes explained a cultural web, analyzing a number of factors that can be used and initiated to describe and affect the organizational culture. The three elements of Johnson and Scholes cultural web have been stated below.
Snap Inc. focuses on rituals and routines. Rituals and routines are significant activities whereas routine is performed by the firm without conscious thinking. It indicates what is estimated to happen after the firm has decided its paradigm and what is evaluated by the management. Story is the second element of cultural web as it shall be noted that the history of the company is unique. Next it focuses on the paradigm that includes the mission, goals, objectives and vision of the firm. It will also help in improving the performance and productivity of the firm. At the end, it proves a picture about the image of the firm and what people are talking about its app and how the firm is conducting its activities worldwide. All these Johnson & Scholes cultural web elements help in maximizing the profitability of Snap Inc.
Two strategic management objectives of Snap Inc.
Strategy and strategic management
Strategy is a plan of action which is designed to attain long term goals and objectives. It helps in making good decisions within the organization. On the other hand, strategic management is the integration and implementation of the primary goals and actions taken by the company’s top management and managers on behalf of the company after taking consideration of resources and assessment in which the firm competes. It provides overall direction and assistance to the enterprise for attaining desired mission and vision of the firm. Also, it helps in creating a better future in the marketplace. With the help of strategic management, it can be possible to increase and maximize the market share and profitability in the global market. In addition, it also provides financial and non-financial benefits to the employees. The main characteristics of this management are that it has the capacity to handle and resolve the issues related to skills and potential of the workers.
Role of managers in decisions making
Managers play a vital role to make unique and dynamic decisions within the organization. They make rules, policies and strategies to carry out the business activities and operations successfully. Apart from this, managers and leaders provide guidance and assistance to employees for doing work in a hassle free manner. Also, they improve and enhance the skills, potentials and experienced of the workforce. Favorable working environment is maintained by the managers at the workplace to boost employee confidence and morale.
Objectives
The main objective of the company is make a good position and image in the minds of the customers. The objectives of the firm are divided into three categories including operational, tactical and strategic objectives. The two innovative objectives of Snap Inc. are discussed below.
Customer objective
The customer objective of the firm is to create best value in the minds of the consumers by providing effective and unique services. By providing good quality of the products and services, the organization wants to beat the competitors globally. To attain customer objectives, Snap Inc. focuses on the needs, requirements and wants of the customers.
Financial objectives
The financial objective of the firm is to increase and grow the shareholder value in the marketplace. Along with this, it also wants to increase and enhance the profitability with determining stability. It shall be noted that Snap Inc. wants to reduce and avert its management cost in order to maintain suitable financial leverage.
Strategic framework
Various strategic frameworks are initiated by the company including SWOT analysis, porter five forces analysis and Pestle analysis. These frameworks help in analyzing and evaluating the plans and policies of the rivalries. SWOT analysis has been discussed below.
Strengths
Weaknesses
Opportunities
Threats
Conclusion
On the above discussion, it can be analyzed that strategic management plays a vital role in each and every company for attaining the goals and objectives. It is also necessary to compete with competitors in the market. Here is the discussion about the Snap Inc. that is American technology and social media company. The company maintains effective organizational structure and dynamic modern management approach is used by the company. By using effective strategic management, the firm has been able to achieve its customer’s objectives and financial objectives as well. In addition, SWOT analysis is done by the organization to survive in the competitive market.
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