BSBSTR802 Online Media Solution: Case Study Assignment Help

Assessment Task 2: Skills Test

Case study of Online Media Solution

Online Media Solutions is an online marketing and web development agency based in Melbourne, Australia. From idea to design, development and marketing, we achieve results for our clients and grow their business.

We have ventured into the web service industry to offer superior and unique services to small businesses and institutions. Our experience and expertise in web sales and e-commerce give us the backing to provide solutions currently lacking in the market.

There is an all-time high demand for web development and marketing for small businesses with signs of rising further. Interestingly, few web developers have taken advantage of this opportunity, leaving the industry with no dominant participants.

The projects’ high costs and the focus on bigger companies and institutions could be the contributing factor as to why this market remains untapped. We have a system that will reduce the project costs dramatically, giving us the opportunity to offer quality services at reduced costs.

Mission

We aim to deliver quality solutions through our highly skilled team with a technical foundation. We are bound to help hundreds of our clients impress their customers and improve their online image worldwide. We are looking forward to providing solutions to our customers at very low as well as affordable costs.

Our vision

Our professional team is very specialised and expertise to deliver solutions not only for leading brands but also for non-profit organisations and innovative start-up businesses. We are aiming to reach an elevated level of success ratio while providing unique yet creative solutions to our customers.

Values

Our values are Quality service to our clients, Integrity & Accountability, Reliability, Quality, Innovation and Respect.

Keys to Success

• We will offer quality web services to small businesses and institutions at affordable prices.
• To build and tailor our services to small businesses.
• We will establish alliances and partnerships with Internet service providers and companies in computer consultancy

Services offered

We offer the following services to our clients:

• Interface and Web Design Services 
  • Web design 
  • E-commerce 
  • Web development 
  • Responsive web design 
• WordPress Development Solutions
• HTML and CMS Development Services
• Coding with Online Media Solutions
• Graphic Design
• Application development 
• Online marketing 
  • Online reputation management 
  • Search Engine Optimisation
  • Pay Per Click (PPC) Marketing 
  • Content marketing 
  • Social media marketing 
• Copyrighting 
  • Content and Production Copyright
• Web hosting and support 

Organisational hierarchy

Business planning

We have prepared this business plan to highlight some of the aspects of our business and systems. It details the market demands and growth and outlines the projected profit margins and cash flow over the next four years.

Executive Summary

Opportunity

There is an all-time high demand for web development and marketing for small businesses with signs of rising further. Interestingly, few web developers have taken advantage of this opportunity, leaving the industry with no dominant participants.

Problem

The high costs of the projects and the focus on bigger companies and institutions could be the contributing factor as to why this market remains untapped. We have a system that will reduce the project costs dramatically, giving us the opportunity to offer quality services at reduced costs.

Solution

We will target the small businesses, assess their needs and provide them with quality services at reduced costs. 

We have systems in place and global contacts that will help us beat competitor’s prices. 

Market analysis

The company will focus on small businesses and institutions that are looking to develop or upgrade their web presence.

Our approach will be step-by-step, starting with a simple, basic website and improving it to meet their changing needs. Our service will bring onboard any small business that needs an internet presence, but we will concentrate more on those that need more details about their operations online.

Such companies will most likely go for all or some of the following services:

• A shopping cart or e-commerce.
• Dynamic features and content.
• Aggressive marketing of products online.

Target market segment strategy

We will focus our marketing efforts on attracting institutions and small businesses. We reached this decision after careful market analysis and identifying the needs of this market segment. The high demand for web services by this market is an opportunity that will not necessitate expensive marketing to attract.

Most businesses are migrating to the Internet at a faster rate. Small businesses have also made online presence a top priority that creates a high demand for our services.

Market Trends

The most notable trend in the industry currently is the mass migration online. Small businesses are either waiting to migrate or are looking to upgrade their already existing sites to suit the rapidly changing industry. Major businesses and companies are also taking their daily operations to the internet. Office tasks and general business operations have moved to the web, and we expect more to develop out of this.

Market Growth

Our target market has expanded and grown at a rapid rate to cope up with the changing technologies. We have put together some evidence to support this exponential growth:

Small businesses of one to 150 employees were spending around $10 billion in 2015 to either gain Internet presence or upgrade their efforts. In 2018, the number was up by $5 billion.

Service Business Analysis

Companies in the web development and service industry vary with the size and nature of services. ONLINE MEDIA SOLUTIONS will provide a unique alternative that the existing providers do not have. The bigger web development firms ignore our target market, making it unique. We will start with this market before moving to attract the larger businesses with our unique services.

Competition

There are a number of online marketing and web development agency based in Melbourne, but there is no dominant business. All the businesses are small-to-medium scaled businesses generating good revenues.

Business Participants

Three types of firms make up the web services industry:

• Large companies: They generate high revenue and serve top companies. There are a few dominating participants in this category worldwide.
• Then there are firms that offer proprietary, all-in-one prefabricated web services to any company at low costs. There are a few dominating companies in this category that have other sources of revenue and only offer web services as part of their customer relations.
• Small firms: This is where ONLINE MEDIA SOLUTIONS belongs. The companies in this category are young and small and usually target small-sized businesses.

Market Segmentation

The nature of our services and our location enables us to serve small businesses and institutions no matter their location. We plan to expand to other cities but will in the meantime use our communication technologies to get in touch with customers in other parts of the country. We, however, expect a greater percentage of our market to come from Melbourne and Sydney.

Strategy and Implementation Summary

The company will market itself as web services and internet providers devoted to giving the small businesses a taste of what the top companies get. We will also target the small institutions and other companies that are keen on giving their services a web presence.

Marketing Strategy

We will approach and follow up all the prospective clients with a clear and thorough marketing strategy. We will give them all the details about the web and Internet so that they do not get confused and intimidated along the way.

Marketing Programs

We will market our services in the following ways:

• We will send out newsletters to potential clients
• We will place adverts on various business publications and journals with a wide readership.
• We will use social media platforms for marketing our services

Pricing Strategy

ONLINE MEDIA SOLUTIONS will establish a pricing system to guide our clients on the nature of the services and the corresponding prices. Since we will be dealing with a market segment that tries to reduce costs, we will charge our services on an hourly basis. It will make the clients understand the services that will most likely cost them more.

Promotional strategy

Since our target market is distinguishable, we will use a direct approach in marketing our services. We will use yellow pages directories to place our adverts. ONLINE MEDIA SOLUTIONS will also put feature adverts in business publications with a wide audience.

We will also send out direct e-mails targeting our potential clients with the company's offerings.

The company's co-owners are experts in their various fields and often get invitations to speak in seminars. They will use these opportunities to market ONLINE MEDIA SOLUTIONS as the choice for businesses that are looking for visibility online.

Sales Strategy

We will sell service, value and quality to our prospective clients. We will need to convince them that having an online presence is a worthy course for their businesses. We have a database that has proven useful in getting new business contacts and establishing relationships.

Our customer care team will use the list to call the owners, calling them by their first names and having an informal conversation. The caller then convinces the business owner of the importance of having a website or online presence.

Strategic Alliances

We have established four strategic partnerships with two Internet service providing companies and another two with computer consultancy firms. We intend to use the alliances to attract more businesses and referrals from our competitors.

Why Us?

We will offer services at a cost that will be very hard to beat. We have an association with a number of professional and experienced international contractors that provides us with the benefit of providing quality services at a reduced cost.

Financial Forecast

We are projecting sales of $800,000 by the end of the current year and $1.2 million in next year. We expect to attain a net profit of 18% in the current and 32% in the next year.

The majority of the expenses will be salaries, contractor payments and office expenses. 

Financial Highlights by Year

Financial Plan

Revenue by Month

Expenses by Month

Net Profit (or Loss) by Year

Strategic Plan Excerpt

Strategic directions

The strategic direction of ONLINE MEDIA SOLUTIONS is to achieve its mission and vision is through:

• Increasing operational efficiency
• Engaging with customers through quality research and understanding supported by marketing techniques
• Establishing a reputation for exceptional customer service and end to end solutions
• Supporting people to perform via training and performance management
• Controlling costs through operational efficiency

Competitive Advantage

The fact that our services target small businesses gives us an edge over our competitors. By setting up strategic alliances with some of the web and Internet-related companies, we will offer our customers efficient and affordable web services that will meet their demands.

Strategic issues

• What is the best method to meld the different cultures and build a strong team to most effectively deliver on mission?
• How do we build and incorporate consistency in our growth strategies, standardised operating procedures and communications in light of frequent changes in leadership?
• How do we best meet the growth operations and service demands in light of consistent budget cuts?

Strategic objectives and organisational goals

1. To generate revenues of $800,000 by the end of our first year of operations.
2. To attain a net profit of 18% in the first year, 32% in the second year and 40% in the third year.
3. Maintain profitability by implementing processes that decrease operating costs.
4. Implement cost tracking systems to increase operational efficiency.
5. Achieve at least a 90% customer satisfaction rate
6. Maximise customer satisfaction by implementing a Customer Relationship Management (CRM) system.
7. Prioritise customer complaints and ensure they are resolved within the appropriate timeframe.
8. Maintain professional growth and development of the staff members
9. Arrange training and professional development sessions to ensure growth and development of staff members

Key performance indicators

• $ in sales
• % profits
• % customer satisfaction rate
• % increase in customer base

Implementation (How to make strategy a habit)

• Appoint a strategic plan manager
• Hold people accountable (now that they are able)
• Put in place an incentive compensation plan
• Coach for achievement
• Empower managers.

Hold effective strategy meetings - first Mondays Hold annual retreat - the second week in December.

Activity 1A

Performance Criteria

Instruction: Answer the following question based on a case study of Online Media Solution.

Question 1

Briefly identify organisational vision, mission and values in your own words.

Activity 1B

Performance Criteria

Instruction: Answer the following question based on a case study of Online Media Solution.

Question 1

Identify, gather and analyse the following organisational data

• Company’s market analysis
• Financial forecasts
• Relevant organisational policies and procedures to follow when gathering and analysing the organisational data

Activity 1C

Instruction: Answer the following question based on a case study of Online Media Solution.

Question 1

To develop a strategic plan, identify relevant stakeholders and resources required in accordance with Online Media Solution’s vision, mission and goals.

Activity 1D

Instruction: Answer the following question based on a case study of Online Media Solution.

Question 1

Conduct SWOT analysis and provide at least two (2) elements of each Strength, Weakness, Opportunity and Threat.

Activity 1E

Instruction: Answer the following question based on a case study of Online Media Solution.

Question 1

Review the current strategic plan and identify gaps, improvement needs and opportunities.

Activity 1F

Instruction: Answer the following question based on a case study of Online Media Solution.

Question 1

Conduct PEST analysis and identify opportunities and threats due to political, economic, social and technological forces.

Activity 1G

Instruction: Answer the following question based on a case study of Online Media Solution.

Question 1

Research and identify trends, best practice, risks and opportunities based on the global environment and market.

Question 2

When assessing global market of Online Media Solution in both current and future demands, what could be necessary factors which will need to be considered by the company?

Question 3

Assess and summarise the current and future demands of the Online Media Solution.

Activity 1H

Instruction: Work in a small group of 3-4 people or as instructed by the trainer

• One person in your group is required to lead discussions, and others will participate as relevant stakeholders
• Ensure every participant uses active listening and questioning to seek the views and opinions of others

Question 1

In your group, discuss and identify at least three (3) challenges to the organisational goals and strategies to overcome those barriers.

After a discussion has been done, you are also required to summarise a discussion using your words in the workbook.

Guideline: Please refer to the information provided in a case study of Online Media Solution.

Activity 2A

Question 1

Explain what the communication processes are.

Question 2

Create a simple flow chart to indicate communication processes that could be utilised to inform and support relevant employees. In addition, briefly identify how each step is working.

Activity 2B

Instruction: Work in a small group of 3-4 people or as instructed by the trainer

• One person in your group is required to lead discussions, and others will participate as relevant stakeholders
• Ensure every participant uses active listening and questioning to seek the views and opinions of others

Question 1

In your group, discuss and determine at least three (3) parameters for the strategic planning process of Online Media Solution.

After a discussion has been done, you are also required to summarise a discussion using your words in the workbook.

Activity 2C

Question 1

The Online Media Solution aims to develop its planning process and strategic plan direction, so use the action plan template to assign necessary tasks to relevant staff based on the case study.

Action plan
Tasks	Resources	Timeframe	Risks associated with each task
What tasks/activities you would need to perform.	This can be physical resources, financial resources and human resources.	How long would it take to complete the identified activity?	What would obstruct you from achievement?

Question 2

Develop and explain the planning process and direction of the strategic plan in accordance with Online Media Solution requirements.

Activity 2D

Question 1

According to the Online Media Solution’s data, use the provided table and objective to create a goal and priority and key result based on a case study.

Organisational goals and priorities
Objectives	Priorities	Key results
The Online Media Solution is expected to lower the costs and make more profits.

Question 2

From question 1, using a provided table to determine related activities and estimated costs for future of Online Media Solution. 

Guideline: Use basic calculation to calculate required human resources, timeframes and estimated costs to achieve identified objective.

Activity 2E

Question 1

You were working as a customer service manager of Online Media Solution, and you were assigned to develop a strategy map to increase the level of customer satisfaction. Complete the following instructions:

• Identify relevant factors you would need to concentrate (e.g., finance, customers and processes etc)
• Identify possible gaps which need improvements in customer service.
• Develop a flow chart of strategy map in order to response customer service satisfaction.

Activity 3A

Question 1

Following activity 2F, if the Online Media Solution would like to invest a campaign to boost customer satisfaction rate, use a provided table as a guideline to develop annual operation plan.

Organisational goals and priorities
Strategic objectives	Priorities	Key performance indicators	Budget	Timeline
You can refer to the section of Strategic Plan Excerpt (Strategic objectives and organisational goals).	What to focus.	What will be measured?	How much to invest.	How long to take for an improvement.

 Activity 3B

Question 1

Briefly explain your understanding of human resource development and its importance to contribute long-term business viability.

Question 2

Briefly explain your understanding of succession strategy and its importance to contribute long-term business viability.

Question 3

Give an example of how you would plan human resource development and succession strategies to support a campaign of customer service for long-term business viability.

Guideline: The learner must include what contents should be focussed and included in the plan.

Activity 3C

Question 1

Give an example of how you could initiate strategies to skill own workforce to implement the strategic plan.

Activity 3D

Instruction: Work in a small group of 3-4 people or as instructed by the trainer

Question 1

• One person will take a role of Operation Manager to present an annual operational plan (Activity 3A).
• Others will participate as IT Manager, HR Manger and Sales Manager and provide recommendations to the Operational Manager.
• Assign responsibilities for each Manager to complete the customer service campaign.
• Assist relevant managers for strategies to complete their tasks.
• Ensure every participant uses active listening and questioning to seek the views and opinions of others.

Scenario  for 4A-4C (Continue from a case study of Online Media Solution)

The strategic plan was implemented for the current year. The sales and profit figures were strongly affected by the COVID-19 Pandemic.

The following are the outcomes of the initial year of the implementation of the strategic plan:

Key performance outcomes
Expected revenue	Actual revenue
$800,000	$600,000
Expected profits	Actual profits
18%	15%
Expected increase in customer base	Actual increase in customer base
10%	3%

Apart from the key performance outcomes, the following were the outcomes of the review conducted.

• The organisation does not have a knowledge management system to capture team progress, insights, experiences and learnings.
• The marketing strategy proved to be ineffective. A new market strategy focused on digital marketing should be developed and implemented.
• The staff members showed resistance during the implementation of the Customer Relationship Management (CRM) system. This was due to a lack of consultation and not providing training appropriate to the implementation of the CRM system.

The management further has decided to revise the profit and revenue targets for the next year due to the COVID-19 situation.

Activity 4A

Question 1

What are the goals and objectives of the knowledge management system?

Question 2

Explain the term of change management strategy in an organisation.

Question 3

According to a provided case study and scenario, develop knowledge management systems to capture team progress, insights, experiences and learnings within an organisation.

Guideline: The learner must include the steps/procedures in developing knowledge management systems.

Activity 4B

Question 1

In accordance with the provided scenario, how you would monitor financial and non-financial KPIs.

Question 2

Explain how you would monitor progress against timeline and key performance indicators.

Activity 4C

Question 1

According to a scenario, identify progress that has not been made according to timeline and key performance indicator.

Question 2

Convey the identified issues in question 1 to your classmate in a group of 3-4 people or as instructed by your trainer. Make a summary of recommended actions/ areas of improvement from your group members.

Question 3

Following question2, discuss in the same group or as instructed by your trainer, identify strategies/actions to address the identified areas of underperformance in the future development of strategic plan.