Sample on MCGE – 2122 Coursework The Business Case
Description of the firm context and business problems
Business organizations are aiming to develop strategies that are relevant to the business problems caused by market competitors and consumer dissatisfaction. In order to run a business within the global consumer market, there is a need for appropriate plans or strategies to expand business on a daily basis. Market includes a huge number of business competitors that are aiming to develop their business by fulfilling consumers requirements (Hu et al. 2019). For instance, Company A is moving towards hiring or developing bonds with a specific consultancy company. Aim of hiring consultancy is to generate ideas that are incorporated with the present market scenario and current business development process that are impressing market buyers and suppliers. Consultancy companies have been seen to be involved in making desirable bonds with different aged people. Therefore, it becomes easier for the consultants to know about the current demands based on daily essential needs and others.
Figure 1: Required elements of developing business strategy
(Source: Wynn and Olayinka, 2021)
Educational organizations are involved in delivering effective lectures and important information based on their personal research through the internet or from authentic journals. Therefore, it becomes simple for students from different educational backgrounds to know more out of their study books, which is also required to get success in the educational field. Company A is aiming to sell online courses, which includes different rates as per the demanding and non-demanding courses (Wynn and Olayinka, 2021). YouTube is a well-established online portal, which has become an effective tool for the experts and knowledgeable lecturers to use for delivering great education among people and this online teaching method is essential to earn huge funds. Most of the online courses include two different paths, such as online and offline. People with limited earnings were not able to subscribe to the payable courses. For instance, Company A aims to hire consultancy to know the viewpoint of those individuals that are unable to study online due to low budget.
Management of Company A aims to know about the maximum and minimum capabilities to pay per course or per subscription by people with limited financial backgrounds. Internal stakeholders of Company A have discussed and requested many educational specialists to give lectures and the management will be paying good salaries to the educational specialist (Bretos et al. 2020). Customers have to pay fees per course and there is a chance to choose a premium course that requires a one-time investment annually. Business developers of Company A aim to suggest higher authorities to give more value to the business innovation model and based on this innovation model there will be a chance to generate new and different ideas to run business smoothly. Aim of Company A is to maximize the essential role of E-education, which has been seen to be getting more popular, especially during this Covid-19 crisis (Nissen, 2018). People from different countries have been observed to be given online course facilities by inaugurating a business organization or company.
Figure 2: Client’s reliability causes continuous business development
(Source: McGivern et al. 2018)
Government educational organizations have not seen to cover the management courses, such as hotel and hospitality management. However, in the past decades, students after completing higher education used to apply management or other online or offline courses by investing huge payments. For instance, the consultancy will be suggested by Company A to research the subject’s popularity among young and teenagers that are aiming to study online as per their requirements (McGivern et al. 2018). Company G was founded by an IT student named Jasmine that successfully introduced an innovative freecycling application to reduce unused materials. Furthermore, this application has been found to be popular among several universities all over the United Kingdom. The study aims to discuss the client’s reviews over products and services with respect to Company A and G. To get advanced information about the course and outcomes from the lecturer and education specialists will be gathered through the hired consultancy.
Educational specialists have been suggested to maintain a friendly bond with students to ensure their continuous subscriptions to online courses. In the online courses, there will be both facilities, such as expert educationalists and computerized bots. In this context, the marketing consultancy has been hired for reducing business burdens caused by market competitors (Sutter and Kieser, 2019). Therefore, the role of consultants and their helping partners will be gathering information about business development strategies of same business providers and consumers buying behaviours about per online courses from Company A.
The consultancy strategy
Type of consultancy model
Consultancy strategy model will be the basis of gathering information from the current business situations and business standards of multiple companies. Through appropriate process by developing effective plans to communicate with customers based on their personal experiences of choosing Company A. Aim of the management of Company A is to recognise future scopes, which will be the actual base before developing business progress (Peleska, 2018). Purpose of developing this business is to sell second-hand services or objects in the online processes. The course will be delivered through “WWW.R3US3.CO.UK” through this website. Each subscriber will be able to gather information and data regarding their assigned courses that are available on this website. R3US3 is a well-developed application and both android and IOs users will be able to access this application to get online courses (Costa et al. 2020). Due to the limited popularity of R3US3 among people, there is a need for telecasting about the effective and essential expertise of this application.
Expert Consultancy
Figure 3: Essential role of developing business by using consultancy as support
(Source: Meijer et al. 2018)
Expert consultancy was established in 2019 and this association is well-known and well-popular by its value-driven and innovative company. Expert consultancy includes different services, such as manpower, HR consultancy, housekeeping services along HR provider consultancy services. Aim of choosing this consultancy is to develop business alliances with customers by developing their knowledge about the quality of the services of Company A through this consultancy. Expert consultancy consists of skilful and knowledgeable advisers that have great knowledge about finding numerous business solutions by analyzing multiple strategic developments of the same service providers (Meijer et al. 2018). R3US3 application can easily be used by both buyers and suppliers after registration on this platform. Moreover, buyers and sellers will be able to buy and sell their concerned products and services through this innovative application. Each transaction includes around 0.2% through R3US3, which is a primary source of income for Company A.
Process Consultancy planning
Figure 4: Consultancy strategies to decrease business problems
(Source: Newsome et al. 2019)
Discovery phase is a major part of consultancy planning’s in order to develop a well-designed framework about the assigned work processes. There is a need to gather data from the background history of Company A, which can be gathered through clients’ reviews or feedback about the services (Newsome et al. 2019). Thus, through the discovery phase, it will be easier to fix business problems or issues based on the business development in future. Before moving through the process of reducing business burdens, consultants and managers will try to find out similar applications and websites and their popularity. Therefore, it will be easier for the Company for value addition within the R3US3 applications.
Resources
Data
In order to work under the influence of business problems and business expansion, it requires company history or background in order to identify solutions. Through balance sheet data of Company, A that will be easier for the consultants to analyse and evaluate the cause of business burdens and threats. As cited by Zhang et al. (2019), two or three years of selling and buying ratio can be gathered by using Company A’s balance sheet. Cost analysis helps develop ideas that are associated with the company’s business profits and loss in prior and at present.
Infrastructure
Information about infrastructure and organizational culture can be the basis of increasing in-depth ideas by the analysis of previously made clients reviews and remarks. Positive approach is required while representing companies’ products and services by the management of Company A (Alsaadani and Bleil De Souza, 2019). By showing a well-mannered and positive approach towards clients, it will be easier for developing reliability among customers.
Human resources
Human resource teams play an effective role to recruit talents that work under the business associations in different industries all over the globe. Aim of the consultancy is to choose and find out innovative marketing strategies, which will be easier for the clients to pay attention to the business of Company A (Liu et al. 2019). To develop better alliances with the employees, there is a need of showing support and guidance to develop employees’ base of working for the well-being of business and its reputation.
Figure 5: Resources that require to resolve business problems of Company A
(Source: Butler et al. 2018)
Clients
Client review plays an effective role in order to improve current business standards, culture and most importantly the products and services. Therefore, it would be possible for the management of Company A to deliver desirable and standard quality services among clients (Butler et al. 2018). Feedback comes under several causes, such as the behaviours of rectification of educational specialists and both positive and negative approaches by the company staff or faculties.
Consultancy team
Resources can be effectively gathered through extraordinary market and data research by the consultancy team members. To know current business stands of Company A, there is a need of knowing present market trends, strategies of fixing product and service rates based on their needs and popularity ratio among students about E-education service by Company A (Beka and Kulinxha, 2021). Consultants will play a major role to reduce business threats of Company A by generating new and different ideas to run business smoothly among market competitors.
Skills
Market research skill is useful to know about current initiatives developed by the market competitors. As argued by Rubens et al. (2018), skill of data and cost analysis helps tremendously in order to find out the actual cause of prior and current business burdens. Time management skill is better for delivering standard quality services among customers by not making them wait for hours to take online classes.
Timeline
Figure 6: Gannt chart of cost analysis and marketing strategy of company A
(Source: MS Excel)
Scopes and targets
Scope
Through effective involvement or engagement by the consultancy, there is a chance to generate innovative ideas about Companies profitability and potential areas to increase more business profits. Management of Company A aims to identify effective strategies to build or develop reliability among service influencers to create a great base of customers across the global online course platform (Lantz-Andersson et al. 2018). Cost analysis from the previous year’s balance sheets would be preferable to take effective decisions based on reducing extra expenses and spending capital over essential things to deliver best possible service to the existing and new customers. Throughout the consultancy engagement, it is a smart move to develop strategies to make more profits in Company A in coming years.
Target
Production based on the marketing strategies can easily generate after the research about the online course service popularity of Company A. In the present era, most online course providing corporations are developing their own applications for the users to get all required educational information from their subscribed portals. For instance, senior managers of Company A aim to understand the recommendable and needy desirable expertise that needs to be added within their application (Crane et al. 2019). As a result, associate partners of Company A will be able to increase their market share across the global online education field.
Deliverables and risks
Deliverables are incorporated with documents that are incorporated with the investigation about the production process and the analysis of balance sheets to know prior performances of Company A. Initiatives of hiring consultancy is essential to develop ideas among clients to fulfil their customers’ needs more effectively. To increase market share and customer awareness, the strategies based on finding business problems will be regulated by taking the marketing team of Company A (Lantz-Andersson et al. 2018). Deliverables documents have covered each assessment point and areas of recognising business problems by the consideration of enhancing business performance.
Risk has been identified through the chance of not giving better services among people that have subscribed to the online courses, as in the case of delivering services among a huge number of users there is a chance for not to fulfil each user’s demands (Lantz-Andersson et al. 2018). A lack of establishment of collaboration within marketing divisions can cause resistance. Risk has been found by cost differentiation from the human capital regarding expenses.
Conclusion
From the above analysis, it can be concluded that the consultancy engagement is beneficial to find out current business boundaries and limitations. Meeting among internal stakeholders and their respective clients would be desirable to make effective decisions all together based on the business development or business establishment. In order to bring sustainability within business by rectifying current disruptions can be a smart business move by Company A to generate more business profits in future. Development of alliances between business organizations and clients can be easily done after giving appropriate value to solving customers’ queries rather than giving value to the business profits. Such initiatives will be useful for Company A and Company G to develop their alliances and continuous business expansions.
Clients can easily get further information about the company and its development process from the consultancy associates in future. Consequently, such a process will be useful for this company to gather attention from different service concerned people more effectively, as trust issues work while not gathering information about the company and its services. Through hiring consultancy, it will be easier to develop ideas about customer measures that are relevant to the impact of consultancy engagement with regards to Company A.
A self-reflection reports
Business development activities play an effective role in order to increase in-depth knowledge related to the cause effectiveness after developing skill and knowledge with respect to the career development process. Self-belief and self-confidence work tremendously in the career development process under several business associations. Therefore, I used to work on developing or empowering self-strength based on delivering utmost performances to the management leaders. Market research is required to open a firm and recognise potential risks within the business. Therefore, I was involved in market research to know about market trends, current business initiatives and causes of increasing product quality in comparison to product quality. Giving maximum value to clients and being responsible to help customers in their needs is mandatory to develop a desirable base of customers along with business enhancement among business competitors (Breuer et al. 2018). For instance, I have managed to cope up with customers by solving their queries over product or service issues within renowned business organizations.
Positive approach, well-mannered and appropriate behaviours cause regular visits and long-term business partnerships with the customers. Therefore, I used to influence maximum consumers through using a sincere and positive approach to solving their issues and rectifying those issues more effectively. In order to rectify business threats or business burdens, there is a need to find the origin of business issues and problems. After recognizing the actual reason for lowering business profits or business standstill, there is a chance to generate ideas by giving huge value to the origin of issues. For instance, I used to suggest to my team members or business colleagues to gather information about previous production processes and balance sheets for being capable enough to answer clients regarding prior and current business development and service differentiation (Crane et al. 2019). Compromising product quality to meet product rate is not a great initiative yet such initiative causes a lack of reliability among customers. Therefore, I used to convey a statement in the group discussion or in the decision-making process to maintain brand value by not compromising product and service quality with rate, which has helped my organization to increase brand value in front of customers.
Reference list
Journals
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Bretos, I., Diaz-Foncea, M. and Marcuello, C., 2020. International expansion of social enterprises as a catalyst for scaling up social impact across borders. Sustainability, 12(8), p.3262. Available at: https://www.mdpi.com/2071-1050/12/8/3262/pdf
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