But the costs are high enough to be prohibitive to keep them current, which can often mean that companies can make future decisions based on obsolete data, and that is a problem. But there are many other methods of analyzing where a company stands versus where it wants to be, and they all come down to data and instinct. Reviewed by: Michelle Seidel, B.Sc., LL.B., MBA. Thus, competitors and other outside environmental aspects can influence, inspire or derail the odds of succeeding at company goals. (“Rumble in the jungle”, 2007). The difference-maker is when companies can look at their competitors and find a way to make themselves stand out. Tiger have to face competition from Virgin Blue and Jetstar. (Grant, 2010, p.63). But it is important to keep in mind that both data and instinct can be flawed, obsolete or just plain wrong. When a strategy becomes internalized into a corporate culture, it can lead to group think. All the strategies make it avoid weaknesses to obtain a competitive advantage. Strategy and strategic management have long been viewed as the concept and process that link an organization and its competitive environment. As a new entrant into the airline, Tiger has a very strong financial support. They continue to study the Australian market so as to take more favorable strategy. And it developed rapidly with the appropriate implementation of strategy. External environment affects the decision-making because Enterprises have to deal with suppliers, customers, governments and their alliances and other external factors. Businesses often turn to the SWOT analysis method (Strengths, Weaknesses, Opportunities, Threats) to get a sense of where they stand and where they want to go. In addition, middle managers who are as executor play important role in strategic management. Strategic management is the process determined by specific persons to establish and implement the integrated concept that has already been described.” (Philip, Roland, & Nils, 2008, p.14). (“Rumble in the jungle”, 2007). A SWOT can be a basic document created with generalized info, or it can be incredibly complex with extensive supporting data. Position needs to be supplemented with other views of competitive advantage and forms of competition, with different time horizons and characteristics in order to cope with the hypercompetitive dynamics of the new competitive landscape. It can withstand a variety of unstable factors. AUD$10 million and 5 aircraft have been committed to start the subsidiary. Limitations of strategic management Although a sense of direction is important, it can also kill creativity, especially if it is strictly enforced. Tiger did well in the use of external and internal resources. Domestic passenger traffic figures are growing in percentage terms around twice the level of existing national GDP or overall growth of the Australian economy (“Lion in wait”, 2008, p.6).Tiger chose appropriate time to enter. But there are no guarantees, and just like Dwight D. Eisenhower once said, “Good planning without good working is nothing.” So, in the hands of a company that does not have good employees or forward-thinking, innovative management, the strategies may be tired, ineffective, hard to achieve, off-point and could ultimately do more harm than good. Yet it runs into sort of the same problems in that not every management team has the confidence or foresight to know how to adapt a plan on paper to the shifting realities of an ever-changing competitive market. That is what needs to happen with strategic management. Tigers was a new entrants, and it lack of management experience. Michael Porter, the guy who literally wrote the book on strategy and who created the framework that many companies still use today, strongly advocated that strategy does not equal operational effectiveness. No one succeeds in business without having a plan to get them through the week, the month, the year — whether it is just keeping the lights on or it is about going head to head with the best competitor in the biz. The leaders and managers chose the low-cost strategy to attract a large number of customer groups, and they conducted industry analysis and competitive analysis (SWOT analysis) to find out the development strategic approach. The idea of being data-savvy and knowing the numbers around not only your operations but the external market and your competitors is not a bad thing — it is a great initiative. Innovation always point to the reformulation of the strategies of a firm, therefore, strategic management is also about innovation. (Michael, R, & Robert, 2009, p.6), Tiger Airways Australia was chosen as the object of study. Tiger is based on Europe’s successful Ryanair model to keep low cost. From key employees suddenly getting extremely sick, even dying, through to new government policies or even a scathing news story, there are all kinds of incidents that can impact companies. Suppliers are overwhelmingly dominant at this point. 1. (Manikant ,2008, p.235), The various components of the strategic management process are including strategic planning strategy process, strategic decisions, strategy formulation, strategy implementation, and strategy change. Tiger entered into the Australian aviation from 2007. The leaders would choose strategic programs with high-yield if they are willing to risk, on the contrary, they would chose lower yield with low risk. The potential benefits are as following through the implementation of internal and external strategic management. Internally and externally, all sorts of things can send shocks to a company’s well-thought-out plan. Adequate funding made Tigers could determine more clearly the objectives of corporate strategy, business direction and consistency of business objectives. The values of senior leaders and attitude to risk have a great impact on the development of strategies. There are many limitations to affect the strategy made. Disadvantages of Strategic Management Process: The process of strategic management includes a set of long-term goals and objectives of the company; using this method helps the company is facing competition in a better manner and also increase its capabilities. But look at Kodak, who once dominated photography worldwide and whose shares have plummeted over the years. The biggest limitation is lack of experience for Tiger. Strategic management emphasizes the strategic positioning and operating system efficiency, and it is generally regarded as the modern enterprise’s success. The following sections will detail how strategic management can be limiting or ineffectual. The report discussed its strategies and the potential benefits and limitations can be analyzed in such different ways. (Thomas, Marius, & Sven, 2006, p.68). Tiger made different strategies to enter the aviation in Australia to gain market share and win customers. Tiger Airways Australia, a Singapore based subsidiary of Tiger Aviation, is a low cost airline currently servicing the Australian domestic market. (“Response to the National Aviation Policy Green Paper”, n.d.,p.2). Australia will maintain a sustained and stable development of the situation in the current international situation and economic environment.