Leadership Strategy and Innovation Resource Management

Question: Discuss about the Leadership Strategy and Innovation Resource Management. Answer: Introduction Twitter was incorporated in the year 2007 in Delaware. It has its headquarters in San Francisco California. The company deals in products and services for users by providing advertisers, developers and a platform for the data partners. Jack Dorsey's Brave and extraordinary, management style has helped Twitter in creating a difference. He owns an exclusive style that may seem exceptional. It has helped him to develop the most anticipated and effective business principlesin California. Twitters mission is to give everyone a power to create and share ideas and information. Twitters chief goal is to maximise stockholder significance meanwhile observing to the laws of the jurisdictions in which it operates and at all times observing the highest ethical standards. Twitter has been an achievement story developed by three people despite of facing criticisms for their innovative idea initially. They have handled difficulties in the initial four years. It was a dream come true for a start-up o rganization to develop a network and to make dominant social networking websites in the virtual technology world. Purpose for the Existence of the Company A Company mission is to set vital ideologies that guides in strategic decision making. There is numerous mission statement analysis techniques used in order to highlight relationship in between a company mission and execution procedure. The Ashridge mission model progresses and gives a theoretical outline for assessing the excellence and suitability of mission statements. The model has four elements. The model helps in creating a relationship in between the mission statement while complying with all four elements of the Ashridge mission model. It helps in decision making whether the organization has complied with the issues it has faced in accomplishing goals and what it has done in finishing the organizational goals. The employees are looking for an opportunity to receive a sense of acknowledgement from the employer. The employees want more than just salary, security and a chance to widen their ability. There is a need of Sense of Mission important for an organization to grow under a diverse environment. Twitter is focusing on attaining the mission in an effective manner under the current development taking place by increasing the efficiency of the organization. There are a number of utility that twitter is following in order to manage internal and external contingencies. Twitter is therefore inspiring and motivating managers and employees to achieve higher level of performance. There is a need to direct resource allocation in a regular manner so that the objective of the organization can be achieved. Twitter has helped in balancing the challenging conflicts of individual interests of diverse stakeholders whose interest lies with the organization. This has helped twitter in achieving sense of dir ection while assimilating the requirements pertaining as per the recent needs. The main purpose of an organization is to support mutual standards in between employees. Twitter has imbibed ample amount of cultural values in the employees to support the interest of the organization. It has helped it to relocate resources efficiently during crises to progress towards corporate performance. Strategy and distinct capability Twitter growth strategy depends on their ability to increase and keep hold of highly skilled human resources. They believe in Recognizing, recruiting, training and integrating competent individuals that require considerable time, expenditure and interest. There object is to hire new employees who adds value to the organization and continue to centre on keeping their best employees. Twitter has offered many of its employees a significant growth within a short period of tenure. They are able to obtain considerable earnings from sale of equity in the markets. This has caused a decline in the inspiration to continue working with them. There is a high level of Competition for extremely trained employees especially in San Francisco Bay Area, California. They are planning to invest important amount of cash and equity to draw attention of new employees and to retain the old employees for the betterment of the organization. Twitter understands that, if they are unable to successfully add and retain employees, their capability to attain strategic goals will decline. This may hamper their business on a long run. Their corporate culture has added value to achieve goals. They understand that there is a continuous need to maintain culture while growing, as they might lose improvement, originality and joint effort. If they do not focus upon the continuous growth, their business may be harmed (Avolio and Yammarino, 2013). Twitter has an objective under the global expansion strategy to improve products and services by acquiring other companies in order to add manufacturing capacity or corresponding products and technologies. Meanwhile they have encouraged investment policy and strategy to preserve capital and support liquidity needs. They do not enter into investments for trading or speculative purposes but to add value to the shareholders in an efficient manner. The motive of twitter is to maximise wealth of the shareholders. Twitter is experiencing a significant need for highly skilled employees which includes senior management, engineers, designers and product managers. Their growth strategy depends upon the ability to keep active employees and to add extra highly skilled employees. They are facing a high level of competition from the other companies to retain/add skilled employees especially in the San Francisco Bay Area. There is a huge competition from the other business organizations. They are continuously competing against online and mobile businesses with the other businesses in the technology industry. Twitter strongly believes that their ability to compete well for highly skilled employees depends on factors like work environment, resourcefulness and improvement, chances to work on tough situations, significant and vital products, the status and power of their brand; and reimbursement. Principles of the company Twitter has significantly agreed upon combating against the factors mentioned above. However, they know that their industry is developing quickly and it is becoming very difficult to survive under the competitive environment. There are certain Risk Factors which are essentially to be given importance. Failing to compete efficiently for users and advertiser there can be a loss in the growth of the organization. This could harm the business and effective results. Twitter understands the importance of highly skilled employees to operate their business. If it is unable to hire, keep and inspire their employees we do not continue to develop our corporate culture or maintain our core values as we grow and evolve, we may be unable to foster the innovation, creativity and teamwork we believe we need to support our growth. Moreover, liquidity available to our employee security holders following our initial public offering could lead to disparities of wealth among our employees, which could adversely impact relations among employees and our culture in general. Our transition from a private company to a public company may result in a change to our corporate culture, which could harm our business. Twitter is providing with a glean insight to the other companies to ensure a continuous growth to the employees and the organization. Twitter has proved several times that it is unique and has distinct qualities than the other organization. Facebook and LinkedIn support longer forms of appearance whereas Twitters format has encouraged the in sequence feedback loop, and an optimistic artlessness. Twitter permits users to cover up their identities. While their identities may be hidden but they can still share their opinion about a subject matter openly on social media platform. It has become mainly valuable while separating it from the other social media platform. CEO-led Management Sessions The big part of constructing a robust company begins with building a strong manager team. Costolo directs supervision at Twitter meeting at least once a quarter. They are utilizing different techniques while disallowing the use of slides by using stories and leveraging his experiences to encourage the team. This has helped the team to understand the management opinion to set an example of vast management all through the company. He is at present functioning on various business operations in order to promote the interest of each individual. Continuous measurement of performance Twitter has Underpin the distinguishing capability and the Value System in its working. Most of the companies perform an employee contentment survey rarely or at once in a year. Twitter implements pulse review in every six months. The survey is based on Short and focused, approximately 15 questions that are used to measure existing engagement levels and it also includes open ended questions to understand the perspective of the employees. Focus on the Core Competency Generally employee appointment efforts fail as they are more complicated and programmatic. Twitter focuses on valuing ease that is why they have developed a 5 core program for every employee. They are not just focused on competencies but rather, those abilities which are essential for an organization to grow continuously. There 5 core programs include: Communication, Development, Change, Collaboration, and Direction. Twitter needs employees to learndaily by creating core skills in order to focus on helping employees. Genuine courageous feedback. Twitter is focused on giving continuous feedbacks to its employees that has helped the organization to make a remarkable difference while comparing to the other competitors. Growth is an essential factor required for the growth that enables managers to give future-oriented, present performance-improving feedback in a critical manner. There is at present twice-a-year official performance review process that emphasis on increasingly continuous feedback Quarterly learning labs are also helping the employees to collect feedback from the manager in order to retain continuous growth. Twitter has showed that it is still suffering from shrinking revenue growth and a weak user numbers. Twitter stated in its annual report regarding a rise of its revenue to 20%. It has earned revenue of $602 million in the second quarter. Twitter remarked it as the smallest gain and the eighth-straight phase of continuous deteriorating growth. There is a slow-down in the social-media company due to a decline of demand from advertisers who are its main source of revenue. They are expecting a decline in the other quarter if the current situation continues (Goldman, 2016). Twitter has acknowledged that it is losing its status evaluated among other social-media advertising offerings. There is an increased competition from the social marketing budgets and it is hurting its appeal to the consumers. Twitter is currently tapping into other parts of the promotion budget that is specifically through online video advertising financial planning (Wagner, 2016). They are taking up the current changes in a significant manner. It requires the company to make tools that allow advertisers to achieve exact demographics with exact regularity (Nowak, 2016). Business strategy Mr. Dorsey strikes an optimistic tone with consideration to the current user growth. He acknowledged that the audience growth in the quarter is notable. There is a direct link between the product alterations they have made to achieve a growth. This expansion was driven by presenting users with more pertinent content in their timelines. It will further improve push notifications in order to seek attention of the audience. They have made clear that there is no point of merging with other as there is a long way to go in terms of their strength (Daft,2014). Twitter is not only a service of significance, but is also a company with huge importance. It is a product with a differential value that has added in its growth since 2007. Twitter has applied refreshing its ads business around by bracing user expansion by creation of the short-messaging service easy to use. It has applied a deliberate business strategy where the management is coordinating the action plans by addressing the goals. It has taken sufficient actions to align with the appropriate actions of everyone present. The management has understood that there are certain external factors that are not in control (Goethals, Allison, Kramer and Messick, 2014). Twitter strategy is to pull more users with its live-video scheme. It has signed a wide number of deals related to live-streaming that deals in for rights to broadcast politics, sports and financial. It has focused itself on sports in particular that has resulted in arrangement that comprise the rights to live-stream games (Wankel, Marovich and Stanaityte, 2010; Murthy, 2013). Twitter is making sure that it will be able to earn revenue from ads sold alongside this content. The company still has to focus on planning a systematic arrangement by focusing on its strategies in order to compete against the global leaders like Facebook and Google (Lusted, 2011). SWOT analysis SWOT analysis is a strategic tool used to derive the strength, weakness, opportunity and threat o an organization. Twitter recently has undergone a structural change. SWOT analysis has helped in remarking the essential criteria needed in order to understand the current position of the organization. Additionally it describes necessary steps required to achieve desired changes (Armstrong and Taylor, 2014; Dias, 2016). It also helps in establishing a decent relationship in between the company current and prospective growth (Storey, 2014). Strength Twitter is a good brand reflection in the market for believable celebrity accounts It is known to be the early market entrants who conquered the entire social media platform in an initial period (Hendry, 2012) . It is known for the Speedy and brief updates enabledon it for the audience. Twitter is used highly by the celebrities for business oradvertising purpose It has a strong brand name across the globe and a popular good luck charm the bluebird It is providing with a huge platform to relate with their customers. Twitter is used by the advertiser for promotion of their brand(Johnston and Marshall,2016; Bratton and Gold, 2012) Weaknesses There is an unequal sharing of tweets. 90% of the tweets are imminent from the top 10% of the present users. Twitter is failing to provide offer with newer features. It is lacking behind providing creative features to attract more people the current business model has limited sources of expansion that has created difficult Opportunities Twitter has become a platform for businesses to promote themselves on the social media platform. It has an opportunity to invite more celebrities and organizations to create convincing accounts so that more customers can be attracted towards them. It has an opportunity to integrate with more telecom operators or companies in order to secure its place. Threats There are various Competitors present in market. The social media is witnessing arrival of upcoming social networking websites There are lot many cases of Fake accounts and hacking cases. Conclusion Twitter is implying strategies in order to achieve a continuous growth in a recent time period. The company is exercising various tactics in order to achieve a maximum growth. During the recent times the company is facing major crises its undergoing. It has planned to restructure the services and products to achieve desired growth. The company has implemented objectives under the leadership Of Jack Dorsey. The new plan has been implemented by diversifying under the current business policies of Twitter. Companys current growth and strategic developments has helped in achieving targets. There is a need to diversify in order to stand against the global competitors like Google, Facebook etc. There is a decline in the growth of Twitter that has caused a restrictive growth due to advertisement issues. By looking at the present scenario it is advised to frame business policies as per the changing business trends. Twitter has a strategy to overcome the harm which is caused in the year 2015. They have a robust plan to overcome against the problems they have faced in past. It is advised to take necessary steps while rejuvenating itself against the challenging business environment. References Armstrong, M. and Taylor, S., 2014. Armstrong's handbook of human resource management practice. Kogan Page Publishers. Avolio, B.J. and Yammarino, F.J. eds., 2013. Transformational and charismatic leadership: The road ahead. Emerald Group Publishing. Bratton, J. and Gold, J., 2012. Human resource management: theory and practice. Palgrave Macmillan. Daft, R.L., 2014. The leadership experience. Cengage Learning. Dias, L., 2016. Human Resource Management. Human Resource Management. Goethals, G., Allison, S., Kramer, R. and Messick, D. eds., 2014. 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