Strategic analysi Essay Example | Topics and Well Written Essays - 2000 words

Strategic analysi - Essay Example However, in 1991, Racal Telecom was renamed as Vodafone (Vodafone, 2013). Currently, it is the second largest telecommunication company of the world in terms of revenue as well as the total number of subscribers. As of June 2013, the company had a total subscriber base of 453 million (Vodafone, 2013). The company operates in more than 60 countries of the world. In the financial year 2012-13, Vodafone earned  £44.445 billion as the total revenue and the profit was  £429 million (Vodafone, 2013). The figures above clearly represent the stable market position of the company. The success of Vodafone can be attributed to the diversified business portfolio. Vodafone not only offers telecom services, but also offer internet services, direct to home (DTH) services and various other physical telecom devices such as USB modem, Vodafone Eurotraveller, Amobee Media System and financial services in the form of money transfer (Vodafone, 2013). Despite strong market position, there are numerous growth opportunities for the firm. In this turbulent phase of business, it is extremely important for a firm to pursue innovative strategies so as to maintain their existing market position (Stacey, Grifï ¬ n and Shaw, 2000). In the similar way, it is important to continue with innovative approaches so as to ensure long term sustainability and better future. Therefore, in order to recommended strategies for the future, it is important to analyse the current market trends and scenario of the telecommunication industry. According to reports, managing the rapid changes taking place in the industry is one of the keys to success for a company (Deloitte, 2013). The telecommunication industry of Europe is growing at a rate of 6.7% per annum and has been the highest in comparison to other service sectors (Government of UK, 2014). In this segment, the study seeks to analyse the industry from the European context and to do this strategic management tools such as Porter’