The profile of various successful companies in the world is of great significance. People are always striving to know how such companies began. An example of such a company is the Saudi telecom company (STC). It is one of the companies in United Arab Emirates that have flourished over years in their fields of operation.
Saudi Telecom Company began in the year 1998. It started as a Saudi joint Stock Company. The government wholly owned it but the later; the government sold 30 per cent of the shares with 20 per cent being a reserve of the Saudi nationals. The company’s headquarter is in Riyadh, Saudi Arabia. It began as the state-owned provider of all public telecommunication services in Saudi Arabia. However, it has also expanded into foreign markets. The foreign markets are India, South Africa, Indonesia, Kuwait and Malaysia. It is also pursuing island nation of Bahrain market. Due to this expansive network, STC is one of the largest telecommunications company in the Arab world, the size is due to its large number of employees, market capitalization, and the total revenue.
Saudi Telecom Company provides both the mobile and fixed services. Additionally, it provides internet and other services relating to data, to residential and business customers. It was also the first corporation to install an IP next-generation system in the whole of Middle East region. This milestone led to the laying the foundations of delivering high quality, triple-play (voice, video and data) services.
STC is facing competition both at home and from other regional competitors. For the company top remain competitive, it is employing some clever mechanisms that aim at reclaiming its clients. Some of the strategies are lowering internet charges by 70 per cent. This reduction attracts a lot of customers thus being a blow to the competitors. Furthermore, it has also slashed its phone roaming charges by 63 per cent in some countries.
There are various benefits that STC will receive after implementing the change plan. First, it will increase its customer base. The increase in the client base shall come by after the implementation of the objective that seeks to find out what customers want. The results will make the company improve on its past strategies hence a good reputation by the customers. Also, the change of the vision will make the customers realize that the company is revamping.
Second is the advancement of the company’s staff that will lead to increased competition. After training, the employees will gain new skills and experience through the capacity building. This training will improve and change how services occur. Professionals will handle operations in organized ways hence avoiding mistakes that might occur due to incompetence.
Furthermore, there will be a full recognition of the new STC. The company will penetrate new markets because people will need to identify more about this new corporation. They will be impressed with trying out its new products. Its potential competitors will have to look for new ways of competing it.
A customer oriented culture improves the customer relations. After the reclamation of customers, the company shall be able to increase its sales thus increasing its income. The company shall use the income in laying the foundation, developments, and widespread market strengthening. An analysis using the Gantt chart makes it possible for the company think-tanks to predict the future and carry out the necessary changes.
In conclusion, the STC is a corporation that is having a more promising future than today. It has made a wise position of coming up with a change plan. The plan has more benefits as outlined hence position it at a better place.
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