The purpose of this paper is to evaluate the current service quality and the strategies of Dialog Axiata PLC in Sri Lanka, which have been implemented to achieve their organizational objectives. This research study has analyzed audit findings, survey results, observational research and content analysis in order to identify the current strategic position of the company and environmental analysis of the telecommunication industry. In addition, several strategic management models have employed to identify the company’s potential to maintain long term strategic competitiveness over competitors within the industry. Furthermore, this paper has discussed about the strategic issues, which the company had to face because of the lack of strategic planning and consideration. According to the findings and results, there are several recommendations, which have been mentioned at the end of analysis in order to enhance the quality of the service, which would enable the Dialog Axiata to be competitive in the telecommunication industry further. The paper suggests that the company should reposition its product lines, invest more on R&D capabilities, and review its Human Resource Management practises in order to gain a significant position in the market.