4.5. Critical resources required to effectively
capitalise on the key
Opportunities
1. In my personal opinion OWHC's managers need to develop an
appropriate structure that will sufficiently tackle all the issues related to
innovation. As observed in the core business model of the company, which is
grounded on recruitment and human resource consultancy? The human resource area
is successfully performed, and the expertise provided to its clients is
sufficiently transmitted. Thus, in order for the organisation to expand; new
managerial instruments and tools such as the development of a marketing
department dealing with the entrepreneurial function needs to be actively
established within the company.
By putting into service a marketing/entrepreneurial managerial
function into the organisation, a competitive advantage will be accessed. By
only relying on a word of mouth type of marketing, company's key managers
depict a delusional managerial style which assumes that the company's
continuity will evolve steadily without involving brand awareness indicators
and market-driven measures. As opposed to the lack of entrepreneurial measures
taken on a regular basis, marketing strategies involving an aggressive type of
innovation should be elaborated.
Since OWHC's managers offer to the clients' appropriate
products and/or services, without a good marketing strategy the product or
service would not be known. Their Marketing department would require a lot of
creative thinking and successful ideas to be able to launch or re-launch any
goods or services. Each of the subsections of the department will have their
own importance such as market research, benchmarking, business development,
business strategy, advertising, design and budgeting.
Should the company's
managers envisage to launch a product for example; before the launch, the
market research team would need to review the market and possibly send out
surveys or sign themselves up to consumer opinion websites to gather people's
views about the product idea. Information gathering is the key within this side
of the marketing department as any feedback from consumers would allow the
company to see whether a product would be feasible or not within the market.
Sending out samples for people to test and requesting for feedback is also an
effective marketing and information gathering strategy.
It cannot be assumed that all product and services will be
unique and enter a niche market; there will always be similar products or
services around, therefore it is important that the company can stay
competitive within the market. The increase in advertising will lead to an
increase people's awareness of the service or product offered by the company as
well as getting the brand visually known.
Nevertheless the fact that competitors, a product or service
have been around in the market for many years, it would still need to have some
sort of advertising and marketing plan in order for the company to continue
being recognized. Without the continuation of a marketing plan the competition
may take dominance within the market, therefore it is important that the
marketing department is able to come up with new ideas to prevent the company
from being left behind within the market.
Overall, the marketing department will play an important role
within the core business model and without it; the company may not be as
successful nor be able to compete with other companies in the industry.
2. The company's key managers also recognized the need to hire
a bigger effective for the growth of the company. One of the managers, Malcolm
namely mentioned that it was prerequisite to find new components to add in the
organizational core human resources. The main barriers faced by the key
organisational players are consequently financial, since the hiring of new
employees will imply fundraising/funding for the organisation. Since funding
can be described as the financial resources available to make a project or
initiative possible. Fundraising, however, will be an organized activity to
solicit money to conduct activities for an organization. Funding will be either
core, long term, or project-based. Core or long term funding will be consistent
over a period of time and will not be related to one project. Project-based
funding will simply imply that the organization will funded onto the delivering
of a particular project or event.
Since all corporate organizations of any size are concerned
with funding and/or fundraising. The investigated organisation might face
difficulties related to not having a budget and do not receiving funding from
government departments, foundations or other agencies. As a result, it may only
be through fundraising that revenue will be generated.
3. As explained in the two subsections above reflecting the
need for hiring a strategic marketing department, issues related to its
implementation such as financial raising problems were also highlighted.
Therefore, should a marketing department be implemented, managers will
consequently face the dilemma of either implementing an in-house marketing or
outsource the expertise related to its implementation. A cost analysis will
then be required for the effective assessment of the outcomes resulting from
the development of moreover the in-house department or the outsourcing.
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