Corporate strategy Essay Example | Topics and Well Written Essays - 2250 words - 2

Corporate strategy - Essay Example Understanding PwC Strategic Resources Tallman (2009) argues that resources and capabilities are the sources of internal strengths and weaknesses for a firm because its profitability, growth, and success largely depend upon unique strategic resources that it possesses. Thus, strategic resources need to be unique to create competitive advantage over competition. Moreover, strategic resources play a much vital role in the success or failure of the organization, especially when the organization is a services company. Organization’s capabilities such as managerial abilities, learning proficiencies, fast delivery and ability to find proper solutions to the issues are some of the factors that play a key role in formulating strategic choices. PwC is purely a services company active in the numerous fields such as audit and assurance that include internal audit, financial statement audit, corporate reporting, IFRS reporting, risk assurance, actuarial insurance, capital markets, corporat e treasury solution; consultation services that include services in finance, operations, technology, risk, people and change; deals that include mergers and acquisition tax, corporate finance, business recovery services, transaction services, valuation and strategy; family business services; and human resource services that include talent management, human capital measurement & benchmarking, social security, and many more. A vast human talent pool that PwC has developed over the years is a major driving force in growth of the organization and making the organization one of the most coveted auditing and consulting firm in the world (PwC, 2013). Tackling Today's Challenges – A Capability Perspective Ever since the concept of globalisation has made rapid strides the firms have been facing an increasing challenge to build competitive advantage in the market place. Under the changed scenarios, the firms have been compelled to make strategic collaborations or partnerships; mergers or acquisition to enhance synergy in their operations and reduce their overall costs. In the most dynamic and ever-changing world, organisations need to show enough resilience and adjust to the new situations quickly. Tallman (2009) emphasises that dynamic capabilities of the firm help resolve emerging issues more effectively. PwC is an auditing cum consulting services firm of a long standing. Overtime, the company has acquired numerous capabilities and strategic concepts that have put the company into the forefront in the global audit and consulting business worldwide. The key strength of PwC is a capacity to tackle today's challenges based on depth and breadth of its capabilities. The company serves to the largest of the multinational corporations to small and medium-sized enterprises. The company's clients are from the different geographical areas working in their own business environment to meet their objectives. It would be interesting to explore how PwC has been successfully a ccomplishing various tasks through the following example. Enterprise Architecture– A True Capability Assessment In 2012, International Data Corporation (IDC), a market research firm, conducted vendor assessment of the enterprise architecture (EA) practices of large consulting firms. The assessment took into consideration qualitative and quantitative aspects of the services provided based on certain assigned criteria. IDC analysts framed standard