Business, The Service Scenario And Strategy Development (Case Study Sample)

Service Scenario and Strategy Development
Name
Institution
Abstract
Corporations use service scenarios to manage risks and develop robust strategic plans. Over the last two decades, the concepts of service scenarios and strategy development have assisted firms to manage large capital investments, uncertainties, and development strategies (Lexa & Chan, 2010). In fact, acting as tools of short and long-term growth, scenarios carry positive impacts in business planning and risk management (Qehaja, Kutllovci, & Pula, 2017). Corporations should thus adopt them as administrative tools while generate strategic plans. As a result, having covered the concepts of service scenario and strategy development, this conceptual analysis demonstrates equivalent knowledge in evaluation of the Korean Telecommunication case scenario (KT). The first part analyzes the case concepts perceptively as they relate to the topics while the second section gives recommendations to facilitate continued innovation and success. The concepts in the analysis include the elements of certainty, that is, the use of hard trends to anticipate the future, the concepts of transformation, and going opposite. Transformation i uses technology driven changes while going opposite involves doing what no one else is performing.
Keywords: corporation, plan, service scenario, development.
Service Scenario and Strategy Development
Part A
Korean Telecommunication (KT Corporation) is one of the South Korean largest tech companies (Kim, Jeong, & Kim, 2017). It gives comprehensive services to both residential users and businesses ranging from data communication, fixed-line telephone services, broadband services, and system networking. However, despite the strong IT capabilities, KT uses significant differentiators to distinguish itself from the other tech providers (Kim, Jeong, & Kim, 2017). For example, it provides consistent customer experiences through multiple innovations and interaction touch points. However, since it is essential for telecommunication providers to have the right subordinate and tools, KT has a committed employee base as well as the right technologies to enhance the quality of customer experience (Lemon & Verhoef, 2016). Such a move gives KT a fast competitive advantage. Nonetheless, the following issue relate to the KT’s case while they offer new insights into the client's experience.
The Concept of Certainty (The Use of Hard trends)
In scenario and strategy development, hard trends foresee things before they happen (Burrus, 2014). Normally, many firms stunt their growth by making developmental certainties. For instance, consider a company that has been developing at the annual rate of 8-10 percent. Differentiation of soft trends from hard ones makes managers significantly anticipatory when they plan and strategise growth (Lanier, 2016). Once the hard trends are adopted, as such, they show certainties which later spot opportunities and innovations long before the other firms exploit. Nonetheless, in the other instances, specifically while using the soft patterns, the predictions may prompt the wrong implementation. Strategic changes, therefore, may bring forth undesirable result (Lanier, 2016). For instance, in 1999 the United States spoke about devastated trillion-dollar surplus. It made a wrong prediction since it did not invest in the stock market (hard trends) over the population growth (soft trends). The government, in fact, did not know the exact difference between soft and hard patterns before implementing any changes. Additionally, General Motors did not respond to the trends of development that arose from the increased demand of gas in India and China and the rise of prices of oil. As a result, the other companies took that opportunity to maximize their profits before GM could think of it. Concisely, the concepts of certainty engineer the formulation of accurate prediction (Burrus, 2014). The hard trends are highly disruptive but they deal with constructive changes. They are also purposeful towards achieving a particular long-term goal (Burrus, 2014).
KT, for example, demonstrates certainty while offering new insights to improve customer experience. For instance, before the implementation in 2014, competition in the telecommunication industry was booming (Kim et al., 2017). It was, indeed, more intense than it was in the smartphone market. In fact, the same logic had dominated over the television industry thereby providing a vague competitive advantage (Kim et al., 2017). As a result, KT took that opportunity to attain its customer experience dreams through making certainties. It was clear that if it set up a value management unit, it would not only improve its current services but also tap customers from the other companies (Kim et al., 2017). The corporation also foresaw the significance of setting a group to manage the customers’ value long before the ST and LG U+ would think of doing the same. For that reason, KT benefited from first mover advantage and was able to adapt to survival strategies while improving customers’ service as well (Kim et al., 2017).
The use of certainty in this scenario is also evidenced when innovations began assessing the areas that competitors benefited. For example, in the segments of product provision and channel management, KT was confident that usage of 1600 of its subscribers to evaluate their experiences would implement new experience changes (Kim et al., 2017). As a result, the corporation was able to achieve an operational effectiveness that was far much better than its incumbent firms had. It shows that different strategies come with various certainties (Porter, 1996). Additionally, considering the contemporary developments in technological growth, the process of improvement of customer’s experience is the only weapon for strategic development. However, for the changes to be more operationally efficient, KT must be able to measure the significance of customer experience using certainty. Jack Welch, The CEO of GE once said that there are only three absolute measurements of strategic growth which are customer satisfaction, optimal employee engagements, and sustainable cash flows. It, therefore, goes without doubts that neither large nor small firms can adopt effective development strategies without certainty (Burrus, 2014).
The Concept of Anticipation (future-based strategies)
Notably, it is essential for firms to understand that change is inevitable. It must occur whether the managers like it or not (Burrus, 2014). The changes, particularly from the external business environment, are typically disruptive while those from the internal settings resolutely construct growth (Efimenko, Khoroshevsky & Noyons, 2016). Therefore, despite certainty anticipation monitors and facilitates strategic growth (Efimenko et al., 2016). For example, the management of high-tech companies becomes considerably anticipatory in product dematerialization, interactivity, visualization, mobility, networking, and intelligence. Such aspects help to redefine a sellable service or product to become the leader in the industry. As a result, anticipation, in this case, promotes long-term development which is evident in the sectors of health, energy, manufacturing, and agriculture where everything mutates leaving nothing unturned.
Anticipation in the telecommunication industry is highly significant. For instance, basing on the performance of the hard trends, anticipation in visualization does not only reduce IT costs but also attracts more customers. It involves simulation by changing things in the real world to a fantasias representation. Furthermore, studies show that telecommunication providers recognise virtualization technology as a green ground for the establishment of the next generational network. In this case, while KT remains certain of the 5G network, the company expects that the anticipated virtualization development will enhance customer experience (Kim et al., 2017). The case also shows that KT provides substantial data connectivity alongside device management after realizing that increased customer experience through networking is becoming a fundamental aspect in the telecommunication sector. On the other hand, additional studies prove that SKT is currently speeding up network virtualization and infrastructure to accelerate the development of the next generation. It shows that they are anticipatory of the factors that will lead to strategic growth.
Based on the future developments, networking is another area with inevitable changes. KT anticipates that the established a Giga broadcast as well as a wireless network will further enhance customer connectivity (Kim, Jeong & Kim, 2017). It has also realised the impacts of globalization on its customer base. Indeed, as every client would like to deal with a multinational company, KT has established innovative departments to improve the current services through value management with the anticipation of becoming a global leader in the telecommunication industry (Kim et al., 2017). It means that the company is anticipatory as far as globalization is involved. Finally, as mobilization within this industry advances, KT acknowledges the implication of data roaming. It is common among users that that travel overseas. As a result, KT uses this developmental strategy not only to retain its subscribers but also improve their experience while in other nations (Kim et al., 2017). Today, the firm has mobilized a group of specialists to deal with technicalities of roaming because of anticipated growth.
The Concept of Transformation (competitive technological advantage)
According to the previous study, transformation is an important characteristic in the strategic development (Burrus, 2014). It assumes a certain degree of changes time after time (Aghaei, 2012). Transformation is ...