Strategy Management of MSNBC Organisation †MyAssignmenthelp.com

Question: Discuss about the Strategy Management of MSNBC. Answer: Introduction The essay is on strategy management of a company. The organisation selected is MSNBC, which is a cable channel of America. This specific channel is been owned by NBC Universal News group and it also provides the news about the political events (Hill, Jones and Schilling 2014). This company is having a high growth as well as it is earning profit from 1996. The organisation is facing various kinds of issues for maintaining the respectable position in industry. For this reason the company is giving emphasize on strategic management so that they are able to get back their position and retain it in the market of competition. This essay is to analyse and evaluate MSNBC strategic management. The essay will be concentrating on analysis of internal as well as external environment of the organisation and at last, the essay will be providing some recommendation for effective utilisation of strategic management so that they can increase the customer base. Mission and Purpose Organisations main motive is increasing customer base and that purpose are been fulfilled by them by providing wide range of channels to subscribers. The organisation is also planning for providing the subscribers with seasonal news besides the information on weather. They also have a plan of establishing their organisation and conduct the business for extending the image of corporate (Slack 2015). The organisation has the mission for augmenting their customers for reviewing the programmes, which will give them information, entertainment as well as education. Vision and Goals MSNBC has the vision of becoming the most creative and innovative organisation globally. The organisation primarily concentrates on the values as well as they believe in delivering the high quality services to their customers so that the customers get good money valuation (Peppers and Rogers 2016). Innovative and creativity in thinking and implementing in their organisation is their major goal. Vision of the organisation is increasing sale level, total earnings as well as cash flow through getting establishment in the market of America as leader as well as expanding the organisation by introducing many channels as one unit. Core values and principles The organisation maintains and follows codes of conduct that help them to guide as well as maintain objectivity, integrity, impartiality and reputation. The organisation focus on adopting the equivalent conduct code for every department and besides that they give values to their stakeholders. Every employees within the organisation are been directed to follow the fundamental guidelines which are been formulated by members of the board (Wheelen and Hunger 2017). The employees also have to give values for the assets of the organisation so as safeguard the stakeholders interests. External Analysis: Competitive Forces External environment regarding the organisation can be determined with the help of the model of Porter Five forces. This model can be applied for evaluating the competitor numbers for the organisation in the American market. In the American market, there exist other channels like WFIO TV, BBC news channels and Blaze. These channels help in providing the English news as well as provide live telecast on various concerts to the common mass. The pressure level is extremely high as there exist various channels in the American market, which is lowering down the identity of the brand. The switching cost decreases for the customers, as the product differentiation was very low. The significant threat received by the organisation was from BBC as the market share, promotional activities and extensive resources of BBC was very well developed and established (Eden and Ackermann 2013). Another risk for the organisation is entrance of new competitor in American market. It can have negative impact o n the organisation as new competitors does not have any economic as well as regulation barrier and therefore they can take entry in the market of America. The new competitors can affect the operations of business for MSNBC for their low capital at the time of investments, access for distribution is easy and service differentiation is low (Hill and Jones 2013). The third factor, which can have an impact on the operation of the organisation, is the threat provided by substituted channels. However, MSNBC is giving its customers an extended range of channels but there exists rivalry due to equivalent competency and so the threat is quite high in this industry. Customers may shift to different brands, as there may be availability of other substituted goods. The last factor that can affect the organisation is high bargaining power possessed by customers due to low differentiation of products as well as services and therefore the customer can easily switch to other brand, which can produce good quality of substituted product. Macro Environment Analysis There are also some macro factors, which possesses serious threats to the organisation. The organisations condition of economy may get change with respect to change in money flow. The organisation tries to serve the services at a very low price to its customers. This factor is also beyond control of the organisation as it can have severe impact on the factor of profit of the organisation. If the economic conditions become poor then it can have an impact on suppliers power of economy that yields in reducing the opportunities of credit. During economic recession in the American market, the customers power of purchasing reduces drastically which bound them for spending low and some of the customers can even switch to different companies. The operation of organisation can be badly affected due to lacking in credit facilities, purchasing power reduction as well as high rate of interests. Strength and competencies This organisation is one of the biggest broadcast having around 50,000 employees across all the branches. MSNBC is also having around 10,000 journalists globally, which helps the organisational operation to be smooth. The organisation is one of the largest news broadcast organisation across the world, which provides news as well as information to its customers. As contrast to the competitors, the organisation gained the market penetration by giving different categories of news of different places. Each immediate in MSNBC is unmistakably connected with expansive system; thusly it urges them to converse with each other at whatever point required. Other nature of the company is that it can retrieve data from any part of the world as each employee serves the organisation for twenty-four hours based on rotational shift (Mordern 2016). The organisation is focusing on requirements of customers and sales as well as they are figuring cartoon channels for children. The most suitable strategy f or the organisation is it is charging fewer amounts from the customers besides earning profit from their business (Austin and Pinkleton 2015). The company is even getting gigantic attestation from the comprehensive group and is demonstrating the cartoon channels for the children on the ground of requests made by them. The unit dependably is turning into the branches and therefore it helps the organisation to gain the competitive advantages over its rival. The unit is attracted towards the requirements and requesting of its customers and therefore encourages them to recognize high client unfaltering quality. Recalling a definitive goal to address the issues of the clients, the unit is hoping to cover particular news, for example, solitary social affairs of praised people and about redirections other than (Peteraf, Gamble and Thompson 2014). The unit is providing 24 hour benefits in which client can get any type of news they require. Weakness The organization is experiencing low differentiation of product where the majority of clients are changing over for different brand due to high substitutes of products. Because of ITV, customers are been pulled in towards various coordinates and besides they are getting TV allow. As this association is giving 24-hour news, regardless of how it is beneficial however on speak side they are filling the void space with silly news, which along these lines affects the vitality of people. Furthermore, when they are depleted they change over to other channel, for instance, sky news with a complete focus of getting tried and true degree. In setting of the low spending game plan, association cannot pass on the events and endeavours that have comprehended performing authorities as they fervour for overpowering theory (Jackson, Schuler and Jian 2014). Slighting having key restrains, the association is continuing with some weakness that further abatements the capability degree. For instance, part icularly the connection is encountering low spending arrangement in which they cannot spend on unprecedented activities and thusly it affects their cash related cut-off. Strategic Options The organisation has different ways of expanding the share of market through the strategies of substantiative growth. The growth strategies are been for expanding the share of the market is described below: Expanding the organisational unit in new markets: The organisation is having the intense growth in the industry of broadcast since the channels got established. The organisation is also getting various suggestions from some of the customers where they demand for MSNBC channel in different country as it will assists the other people for accessing the news. This strategy is generally adopted by the companies of retail sector for expanding their business that will also help in increasing the base of the customers (Rosenbaum-Elliot, Percy and Pervan 2015). This strategy is been implemented by most of the organisation when they survived in the market where they opened the business and looking for expanding their business. MSNBC can also expand their scope of business by implementing wide range of channels. The organisation requires more journalists as well as editors so that they can manage the news divisions of the organisations efficiently. The strategy can be supported with the change in demographics as well as the climate of economy. The organisation can be differentiated from its close competitors by introducing news of various languages as many competitors have already applied this strategy for capturing the market. Broadening of Service line: The company was been involved for providing the news in English for its customers. For accomplishing the choice of the viewers the organisation also acne up with the idea of introducing the set top box in the market, which helped them to gain the revenue of around 20 million dollars. This specific strategy has also a chance of being recognised that also give the organisation a chance to operate in different countries and being established globally. Promotional strategies can also be implemented by the organisation for pursuing more number of customers with the help of authentic information. The organisation can also introduce selling the services to the customers directly so that the customers can directly contact the team in case they are having problem in their service. Thusly, organization may retain potential clients and by this process it decreases the switching rate of customers towards different brands (Bettis et al. 2016). With a specific end goal of surviving in American mar ket, the organization may offer its clients with service of cheap rate. This will help them in becoming the pioneer of the market. This system will likewise help MSNBC for capturing the new market with minimal danger as well as less capital investment. The fundamental intension of this strategy is expanding the viewers frequency for the channel. The utilisation of tool could enable MSNBC to catch bigger market to share as well as for promoting the channels among their potential customers. Recommendation and Conclusion It is recommended that the organisation can expand their business globally with the help of channel advertisement. The advertisement of the channel can be done with the help of existing channel, as that will help the customer of getting the knowledge about the new channel in the market (Percy, Elliot and Rosenbaum-Elliot 2016). The strategy will leverage the productivity proportion of MSNBC and in this way can likewise promote the name of brand. Preceding growing business in different locales, the organisation must be aware of its strength and weaknesses as it will assists them in satisfying the requirements and requests of its clients of various areas. The business is additionally prescribed for changing the organisation's structure where all the employees should be given training of how to meet the requirements of customers. The business is additionally recommended to contact every now and again with its clients as well as viewers since it will assists the service to be effective. They have to concentrate on the service quality, as satisfaction of the customer is significant in this business. MSNBC is prescribed to enable the managers in giving their suggestions as well as perspectives in the corporate choice of organisation since it will help in understanding where consideration is mostly required to implement (Goetsch and Davis 2014). The organization is also recommended for targeting more and more new clients as well as meets their requirements and demands. References Austin, E.W. and Pinkleton, B.E., 2015.Strategic public relations management: Planning and managing effective communication campaigns(Vol. 10), pp.347-356. 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