Strategic Management Tools

These tools aid in understanding the competitive market, identifying any opportunity available as well as setting the priorities of an organization. Due to stiff competitions business uses this tools, notably Australians companies especially multinational one’s too uses this tools to carp the global competitions (Harding, 2017). This paper seeks to comprehensively discuss three essential analytical tools in context to competitive analysis at the multinational organizations in Australia. Swot Analysis Swot analysis is one of the major tools used by business to identify the strengths and weakness (Harding, 2017). Moreover, help in identifying the opportunities open to an organization and the treats that can face. The core strengths of the company include its technological innovation, customer-centered services, and also global reputation (Chuang & Hu, 2015).

The opening of new markets such as Africa and Vietnam as well as the emerging economies such as China and Taiwan offers the perfect opportunity for the company expansion. The limited online banking services act as a threat to the bank’s operations. On the other hand, globalization is the greatest threat to the organization. As a result of globalization, competition becomes very stiff. However, PESTLE analysis leads to a generalization of the compulsory information, therefore, leading to poor or inadequate decision making (Harding, 2017). It also needs a consistent use which can be expensive for the organization. BHP also referred to as BHP Billiton is an Australian Corporation which offers services pertaining metals, mining, and petroleum (Els, 2017). The company is headquartered in Melbourne, Australia.

The company was founded in 1885. This impacts BHP Company positively. As described by Findlay, Odgers, and Yeo, (2015), Australia has an apparent and proficient legal framework. The corruption intensities in the country are minor than corruption cases in UK, US, and Canada. This is credited to robust structures of checks and balances as well as the high respect accorded to the judicial system and the law (Findlay et al. Innovativeness in the mining sector also leads to the development of new products, equipment, and processes. They also have heterogeneous resources which include the capabilities and skills which vary from one organization to another. By using their core resources, the firm has successfully attained their competitive advantage in the mining sector. Reference Anton, R.