You will prepare and submit a term paper on Strategic Condition of Charles Schwab and Company. Your paper should be a minimum of 3000 words in length. This report contains the strategic audit of Charles Schwab and Company. The Instruments used are SWOT analysis and SWOT matrix. Analysis of the company’s position has been undertaken. Different technology models have also been applied in order to undertake the analysis of the technology practices in the company. In the end suggestions and recommendations are presented in order to improve the competitive position of the Company.
The strategy of a company requires constant updating. With the changing conditions of market and industry, it is important for an organization to keep its strategy intact with the changing environment. An outdated strategy cannot fulfil the needs of today’s global environment. In order to go through the updating process, the organizations should carry on an audit to analyze which aspect requires improvement. It also specifies what strategy is necessary to support the business operations, the information people use currently and the gaps in these functions and the business goals.
By assessing the knowledge possessed by an organization about its competitors and market environment the mangers can effectively make decisions in order to find the most feasible way for their businesses to maximize profits and improve market share. It is also important to calculate the extent to which change needs to be introduced to the organization. Although the identification of the problem is a big issue the finding a solution making sense with the business world is the main purpose of change in the organization.
“Back in 1970, Alvin Toffler in Future Shock (Toffler, A. 1970) describes a trend towards accelerating rates of change. He illustrated how social and technological norms had shorter life spans with each generation, and he questioned society ability to cope with the resulting turmoil and anxiety.