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Business has various policies which are formed to run it business in better and effective way. As per requirement there are possibilities that company has to alter policies. There are some component with are associated with company directly or indirectly can have positive or negative impact. In business, there is use of factors which might get altered by management of company due to requirement (Aithal and Aithal, 2016). Hence there is requirement of proper planning to achieve goals and objectives. It is essential work as per external factors; hence there will achievement of targets in better and effective way. Mangers are responsible for proper planning and motivating workers to act in specified manner. This report is based on BT Telecommunication Company. This association has head quarter in London, UK. This operates in more than 18 countries. In this report there is discussion about Pestle analysis, Ansoff’s model, internal factors of business. In this there is analysis of telecommunication sector is done. There is discussion about strategies which are applicable to analyses market.
There are various factors which affect business in either positive or negative way. External elements are not part of company internally, but they affect business indirectly. It is essential to know what can be done and then this affects business policies. It is essential to know about policies which h can be performed in effective and efficient way. Telecommunication is the industry which has many factors which affects its operations. In this case, there is requirement of analyzing market and take actions which are beneficial for its growth. Macro environment includes external factors of business. so they can perform activities in better and efficient way. PESTLE is the technique which is used bty managers of BT in knowing factors external forces and its impact on business.
Political- In this factor, government related factors are involved. According to it, there are policies which are required to be performed with change in plans and policies. There is change in government, so they make their own plans and policies (Basco, 2015). These strategies are widely related to business. In case of BT group they have to fix network tower, so there is permission from political bodies. This is the factor which affect business adversely,. In case of government interference there are chances of impact on goodwill of BT group.
Environmental- BT group operates in various parts of country, so it is essential to work as per environment of concern place. There is difference in environment of various places. As BT group operates in telecommunication, in case of network issue due to environmental factor, then customer may get dissatisfied and switch to other operator. This factor affect business adversely as in case of mobile networks there is hurdle in operating business operations. This affect has impact on telecom company. This affects internet, call, etc. services which has impact on customer satisfaction.
Social- There is difference in culture of people living at different parts of country. There is difference in their demand also. As telephone services are widely used in different parts of country, hence BT group must focus on knowing demand of customer and then they must improve quality of their services. From, this factor, it is clear that consistency in operations does not give any worth. Manager of BT group has to make polices through which they helps to adopt policies alterations due to change in social need.
Technological- Technological factor affects business in efficient way. Due to change in technology, BT group had to alter their techniques. In this style there is use of policies which help to achiever targets in better and effective way (Temminck, Mearns and Fruhen, 2015). While change in technology, there id requirement of training of workers, this results in increment of cost for company. In case of technological changes, training is the cost which has to be incure by mangers. There are chances that employees are not ready to learn new ideas, as they think that this might affect their importance or in case they are not abler to learn new technique, they may be fired. So in this case manager has to motivate them in better n ad effective way.
Legal- BT group has business relation with various countries and there are some or other legal policies related to running of business. In this case, there is requirement of proper knowledge about rules and regulations, so there is no hurdle in running business. Manager can appoint some legal adviser which provide guidance to management of company (Rugman and Verbeke, 2017). Laws related to employees must be implemented in proper way and in case of alteration it must be altered by expert. While new employee is joining company then manager must tell them about rules and regulations so there are less chances of default.
Economical- This factor affects business adversely. As there is need of funds to run business, hence this must be available at effective way. There are many sources through which company can raise funds. In case of problem related to availability of raising funds, organization may feel problem in operating. BT group has good image in market, so it is easy for them to raise funds. In case of increment in interest rates of bank loans, redemption of shares, etc. are factors which affects financial component of organization.
Ansoff Growth Matrix
BT group has good image in market, as they keep eyes on demand of consumer. In telecommunication services, there is much competition, so it is essential to make strategies as per requirement (Aithal and Aithal, 2016). There are much climatic issues due to which services might get halt; hence these problems must get solved frequently. As per data there are various types of customer of BT group, there is difference in their demand, so they bifurcate them on the basis of demand, age, etc. This helps to satisfy them more efficiently. There is requirement of new network offers which give benefits to customer and hence they are ready to be part of BT Group. Satisfaction of customer is the key for growth and expansion of business. Ansoff matrix has four approaches, which are discussed as under-
Market penetration- Market penetration means there is division of customer on the basis of their demand. So this is one of the factors which have to be adopted to by company. If they distribute consumers, it is easy for them to anlayse demand and satisfies society. To penetrate market, there are chances to adopt other firm.
Market development- In this case, there is requirement of development of factors which help to analyse market and then take actions which are frequent for expansion of business. Market development is possible when managers have to frame policies which are effective in achieving business objectives. They have to frame attractive policies and then promote them, so consumer is ready to avail them (Basco, 2015). Through this there will increment in sales of BT group. It is essential to make policies which help to analyse market and then use factors through which they can get image more as compared to other competitors.
Product development- In this there is important role of Management of BT group. They have to analyse market and then come with offers which are beneficial for expansion of business. There are many competitors of BT group, it is essential to analyze their policies in better and effective way. R&D department plays vital role in achieving targets and hence they can enhance their customer range and quality of services. Product development is different from market development in this case there will use of internal forces which help to achieve targets. These days there is requirement of difference services which help to satisfy demand of consumer. As there are varieties of customer, some it is essential to have anlyse market and then require factors which help to achieve targets in appropriate way.
Diversification- As per this, there is use of data which divides customer as per their requirement. This can be effectively with the help of managers. Through this there is providing services to customer. Employees must be trained regarding handling of query and its proper satisfaction. It is important to work as per requirement of factors which are applicable in making changes in business operations.
BT Group ids the brand which has many competitors still they make their same image in market. This is tough to be best among all competitive brands, through this their will use of factors which are competent over others. There are chances of change in policies which are effective to judge to attain growth in business. Telecommunication is the sector which is very frequently used by every group which helps in satisfying demand of society. So it is essential to provide facilities which are competent for others. If BT group is not able to satisfy demand then customer will start switching to other brand.
Strategic capabilities- strategic capability is the element which is most effective to analyze market and then this helps to judge what can be done to improve image of organization over competitors. There are many ups and downs in business, to make good and long lasting image, it is necessary to make strategies which help to get edge over others. Strategies capabilities are strength of companies which are not present with others. EE, Virgin, Vodafone, etc. are core competitors of BT group (Smink, Hekkert and Negro, 2015). To make long and good relations with consumer, they provide attractive telecommunication offers to society. This is effective for analyzing market and hence this is impactful for society. As per data, every group of society is using phone for various purposes, so it is essential to take their feedback regarding services. In case of negative reviews correctives actions must be taken. Employees are trained how to deal with customer. As cool and calm customer handling is effective for customer and their queries must be satisfied.
Value- In this stage it is analyses that actions taken by company are whether valuable or not. It is important to know what activities can b done so it helps to analyse market in better and effective way. If there is no value division from new service, then it will not be acceptable by society.
Rareness- As per this factors, to make good image in market. It is essential to work on concept which are rare and not available in market. This can be done by R&D department of BT group. There have to analyse demand and take actions to take use of resources which are not available and whose requirement is there.
Imitate- As per this factors it is important to work on cost of resources which are effective for achieving targets. There are possibilities that due to change in technology, there are possibilities of increment in cost. So it is important to know what can be done to reduce cost of resources and hence profits will increase.
Organization- This is the last step which talks about use of resources which are capable of achieving targets in better and effective way. It is important to talk about structure, management, rules and regulations, etc. for achieving targets. Due to change in structure of organization, there are chances of negative result on operations. Managers are responsible for thinking about motivation and improvement of activities.
Strength and weaknesses of BT group
When a business organization undertake a research to determine the competitiveness in which it operate then help in identify the current trends exist in market and support manager in take better business decision. For analyze the competitiveness of telecommunication sector there is a tool known as Porter’s five force model that can be utilize by BT.
Porter’s five force analysis: This tool indicate that entities require to keep a eye on external factors that affect the actions and decisions of company. Analyze the price of product offer by rival of entity is also come under this. Porter Michael concluded that mainly there are five forces that largely affect the actions of business firms and support them in get a competitive place in business environment. For take better decision, BT can undertake a research in order to examine the telecommunication sector of UK. As per this model, five major forces exist in market can be understood by the following points:
All these are the five major force that largely affect the actions of a business organization. By analyze all these, BT can take better and effective business decision.
Due to large number of rivals exist in business environment, various type of situations are face by entity such as introduction of a new product from rival, changes in prices and many more. In all this, it become more difficult for organization to maintain its market share so it is very important that right decision should be taken by entity so it can get desired goal and can maintain its position in market. For this there is a tool known as Bowman’s strategic clock model that can be use by manager in BT in order to take better decision.
Bowman’s strategic clock model: This is used by large number of enterprises and one of the main reason behind this is that it provide so many directions to a business entity for its strategic positioning. One of the main feature of this is that it support entity in position its product in market which help in attract large number of customers. All strategies indicate in this model are mainly rely on two factors known as price and value perceived by customers (Matt, Hess and Benlian, 2015). As BT firm offer its different services to large number of individuals living in various area of world. With help of this model, management can determine the 8 strategies which can be use by firm.
All this are the major strategies that can by utilize by organization to operate in market. By choose right strategy BT can increase its customers base and at the same time can satisfy their needs. From all above given strategies position 7 and 8 is not effective for BT because under that prices of product is more as compare to the value perceived by customers. in today’s business environment, a firm can survive in long run by offer more value to its customers and by charge less prices for the same.
From the given project report, it can be summarized that it is very essential for business enterprises to formulate a effective strategy. This provide direction to both employees and managers to perform their job roles at workplace and support entity in achieve its set goals and objectives. Before formulate strategy, it is very essential for manager to undertake an analysis of macro environment as with this manager identify the major forces that affect business operations. In this way, organization can respond to the changes take place in business environment in effective manner and can better satisfy the needs of its customers.
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