ACC80011 Seek Case Analysis - Assignment Solution

Introduction:

The advent of advanced technologies has established new avenues for developments among different sectors, specifically the most valuable element offspring of the advanced technology ‘Internet’, has significantly re-shaped the modes of communication and the professional fields aligned with the communication sector.

Conventionally, newspaper and magazines were considered as the major source for advertising and marketing, however the traditional methods of recruitment had been revolutionised by the emergence of the Internet (Shahila & Vijayalakshmi, p. 118, 2013). Advertising now is more convenient, fast and covers a wider area of target market as compared to the conventional sources. The founders of SEEK, analyzing the inadequacy of the available sources in promoting the job market, developed an online platform to facilitate the job seekers and employers. Though SEEK had been quite successful in accomplishing its main purpose, however like any other business it is vulnerable to certain threats as well. in the following report the winning factors and potential threats will be analyzed through SWOT analysis.   

Winning Factors (strength):

Finding a job matching to one’s capabilities, the best employer in terms of privileges, and hiring of the most competent talent among the job market are the major concerns of both the employers and the employees. SEEK’s founders tapped into the same concern and acknowledging the need of a platform viable for all the stake holders of a job market launched an online employment portal equally feasible for employers and employees as well. 

As employment is one of the major issues of any community, theme of SEEK that is posting jobs and employee’s profiles is itself a success factor. Considering the range, capabilities and accessibility of SEEK’s platform within few months it gained significant prominence, as 10,000 job seekers and around 200 firms got themselves registered with the platform.  

Another strengthening factor for SEEK is the external funding from prominent businesses and families like Yahoo!, the Besens, and the Libermans. As a corporation grows, it may require additional capital to finance its expansion (Gilbertson, Lehman, Passalacqua, p. 342, 2011). SEEK selling its 25% shares to an Australian businessman James Parker in 2003 and upgrading the company’s value to $132, affirmed its position in the New Zealand market by acquiring NZ Jobs. Hence, gaining more shares among the global markets.   

In fact, SEEK’s principle that ‘if the product or service was valuable, ways to monetise it would come later’ is the actual factor leading the company to success.