...Formulating a Feasible Business Strategy to Start the Business in the Home Entertainment Industry A business opportunity has inspired me to start my own business in the home entertainment industry. The business in the industry will be performed by globally selling DVD and CD products, which can be described as physical containers of entertainment elements from film, music and game studios. For acquiring information of the opportunities and possibilities of the business for me, who acts as an entrepreneur, relevant business strategy will be made as the following assignment. 1. Definition of the concept of business strategy. The concept of business strategy will be defined as the points below. 1) To define the concept of business strategy, initially, the definition of strategy will be given. Strategy is the determination of long term goals and course of action on achieving these goals. (Business Strategy 2004) As it has defined, it is a designation of plans for action to achieve a particular goal. Similarly, for a company, it is a particular business goal. 2) One of the most important elements in the business strategy is their objectives. However, before making the objectives, the mission should firstly be set. From this point, business mission is to provide information on the character of a company and what business a company is doing. When the setup of the mission is done, there will be an inspection of the objectives. There are three...
Words: 3004 - Pages: 13
...represents or finds jobs for artists, film directors, screenwriters, models, or musicians in entertainment or film industry. The acting agency supports, promotes, or defends the clients' interests. An accounting agency can specialize on various talents in the film industry by establishing different departments within the company or specify on a single specialty. As such, the acting agencies can range from being commercial talent, modeling, sport, broadcast journalist, voice-over, music, film, or literal agencies. The status of Exposure Acting Agency has aroused interest to give them growth and development ideas after noticing its decline in its business, especially the way it does not receive requests for actors for the past few months. In this case, this report provides an effective business plan that Exposure Acting Agency can implement into their organization to thrive their success in the film industry. Background The aim of this plan reports it to help Exposure Acting Agency streamline its products and services to make sure its signed actors receive frequent requests from film directors, which is the healthy way of ensuring business growth and talent development. Receiving frequent requests for the actors will help the company to drive its growth and sustainability, as it achieves the expected operations and financials over the given period. Exposure acting is a New York-based company that specializes on inter-linking film actors with film directors with an aim of growing...
Words: 2281 - Pages: 10
...represents or finds jobs for artists, film directors, screenwriters, models, or musicians in entertainment or film industry. The acting agency supports, promotes, or defends the clients' interests. An accounting agency can specialize on various talents in the film industry by establishing different departments within the company or specify on a single specialty. As such, the acting agencies can range from being commercial talent, modeling, sport, broadcast journalist, voice-over, music, film, or literal agencies. The status of Exposure Acting Agency has aroused interest to give them growth and development ideas after noticing its decline in its business, especially the way it does not receive requests for actors for the past few months. In this case, this report provides an effective business plan that Exposure Acting Agency can implement into their organization to thrive their success in the film industry. Background The aim of this plan reports it to help Exposure Acting Agency streamline its products and services to make sure its signed actors receive frequent requests from film directors, which is the healthy way of ensuring business growth and talent development. Receiving frequent requests for the actors will help the company to drive its growth and sustainability, as it achieves the expected operations and financials over the given period. Exposure acting is a New York-based company that specializes on inter-linking film actors with film directors with an aim of growing...
Words: 2281 - Pages: 10
...© Academy of Management Journal 1996, Vol. 39, No. 3. 519-543. THE RESOURCE-BASED VIEW OF THE FIRM IN TWO ENVIRONMENTS: THE HOLLYWOOD FILM STUDIOS FROM 1936 TO 1965 DANNY MILLER Ecole des Hautes Etudes Commerciales, Montreal, and Columbia University JAMAL SHAMSIE New York University This article continues to operationally define and test the resourcehased view of the firm in a study of the major U.S. film studios from 1936 to 1965. We found that property-hased resources in the form of exclusive long-term contracts with stars and theaters helped financial performance in the stable, predictable environment of 1936-50. In contrast, knowledge-based resources in the form of production and coordinative talent and budgets boosted financial performance in the more uncertain (changing and unpredictable) post-television environment of 1951-65. The resource-based view of the firm provides a useful complement to Porter's (1980) well-known structural perspective of strategy. This view shifts the emphasis from the competitive environment of firms to the resources that firms have developed to compete in that environment. Unfortunately, although it has generated a great deal of conceptualizing (see reviews by Black and Boal [1994] and Peteraf [1993]), the resource-based view is just beginning to occasion systematic empirical study (Collis, 1991; Henderson & Cockburn, 1994; Montgomery & Wernerfelt, 1988; McGrath, MacMillan, & Venkatraman, 1995). Thus, the concept of resources remains an...
Words: 11277 - Pages: 46
...represents or finds jobs for artists, film directors, screenwriters, models, or musicians in entertainment or film industry. The acting agency supports, promotes, or defends the clients' interests. An accounting agency can specialize on various talents in the film industry by establishing different departments within the company or specify on a single specialty. As such, the acting agencies can range from being commercial talent, modeling, sport, broadcast journalist, voice-over, music, film, or literal agencies. The status of Exposure Acting Agency has aroused interest to give them growth and development ideas after noticing its decline in its business, especially the way it does not receive requests for actors for the past few months. In this case, this report provides an effective business plan that Exposure Acting Agency can implement into their organization to thrive their success in the film industry. Background The aim of this plan reports it to help Exposure Acting Agency streamline its products and services to make sure its signed actors receive frequent requests from film directors, which is the healthy way of ensuring business growth and talent development. Receiving frequent requests for the actors will help the company to drive its growth and sustainability, as it achieves the expected operations and financials over the given period. Exposure acting is a New York-based company that specializes on inter-linking film actors with film directors with an aim of growing...
Words: 2281 - Pages: 10
...1) What factors motivated Kodak to change its organizational architecture? When Kodak began making changes to its organizational architecture in 1984, its current architecture did not fit the business environment for the industry. The largest factor that motivated Kodak to make this change was increased competition and decreased market share. Until the early 1980’s, Kodak owned the film production market with very little competition. This suddenly changed when Fuji Corporation and many other generic store brands began producing high quality film as well (Brickley, 2009, p. 358). Another factor in this change was technology advancements. As technology rapidly expanded in the 1980’s, other competitors obtained the ability bring new products to market in a much shorter timeframe (Brickley, 2009, p. 358). Film and related products became more readily available, resulting in a more competitive film production industry. With this changing market environment and technological advancement, Kodak lost its monopoly in the film production market and was forced to make a change. 2) What mistakes did Kodak make in changing its architecture? In order to regain some of its lost market share, the company made some rapid and unbalanced changes to its architecture. However when making changes to one area of the company, it failed to coordinate the changes to other areas. In 1984, the company restructured and changed its decision making process to become more decentralized. As a...
Words: 818 - Pages: 4
...Case 1 – Kodak Idendity Industry, Product segments and Value chain The industry is Global photography industry. In the case mentioned that Kodak is a major multinational organisation, was listed on the New York Exchange TEMPLES Factor Issues Nature of impact (+/=/-) Assessment of impact (H/M/L) Technology • Digital technology made the growth of digital photography + H Economic • Impact of recession on consumer spending - M Market • Changing purchasing traditional camera to digital camera • Price competition to gain market share • Market share of photography product declined due to digital photography - - - H H H Society • Change in consumer purchase from traditional photograph to digital photography - H 5Q-Pursued strategy Business Strategy using 5Q approach Examples of how Kodak has been pursuing the corporate strategy Growth-Yes Withdraw: US Subsidiaries filed voluntary petitionfor Chapter 11 business reorganisation to enable Kodak bolster liquidity and sell off non-strategic intellectual property, so that 1) Kodak can focus on its most valuable business units. 2) The process will allow Kodak to continue normal business operation while it attempts to emerge a profitable a sustainable enterprise 3) The Bankruptcy was a step in the transformation in order to build the strong possible foundation for the Kodak of the future. Product Camera, film but focus on printers (consumer and commercial printer)...
Words: 648 - Pages: 3
...discussion of Kodak’s industry and commentary on the political, economic, social, and technological environment in which the company operates, the report then narrows to focus on Michael Porter’s Five Forces: barriers to entry, threat of suppliers, threat of buyers, threat of substitutes, and rivals. Once a thorough analysis of the industry and its environment is complete, it is necessary to detail Kodak’s value chain and identify resources and capabilities specific to the firm. Finally, these core competencies are subjected to a VRIO analysis to determine if they are valuable, rare, and not easily imitable. If the Kodak has the organization in place to utilize these resources and capabilities, they have a sustainable competitive advantage. The Company Kodak Company was founded in 1880 in Rochester, New York and engages in the imaging technology industry. The company operates in four segments: Digital and Film Imaging Systems, Health, Commercial Imaging, and Graphic Communications. For most of its history, Kodak focused on film technology and became a world leader in film and film camera sales. In the mid-1970s, Kodak controlled 90% of the film market. With the advent of and increasing demand for digital imaging technology throughout the 1990s and early 2000s, Kodak faced declining demand for its film products and decreasing market share in the overall camera market. Industry Yahoo! Finance lists Kodak in the “photographic equipment and supplies” industry. Kodak...
Words: 4758 - Pages: 20
...Managerial Economics Case Studies Institutional Affiliation Managerial Economics Case Studies #1. Three aspects of organizational architecture The three vital components of organizational architecture are: a) assignment of decision rights; b) methods of rewarding individuals; and c) structure of systems to evaluate the performance of both individuals and business units. First, assignment of decision rights involves giving the responsibility of decision-making to top-level executives. It is imperative that an organization is able to delegate the duty of making a decision to a manager who has relevant information and knowledge on the internal and external factors that affects the operations and goals of the organization. The architecture of an organization and its environment will determine who will be the decision-maker for the company. In some organizations, the top-level executive may have them most relevant information and thus, a centralized decision-making process can be adopted. There are instances when the lower-level employees may have the most relevant information, thus, decision-making rights become decentralized. Second, methods of rewarding individuals determine how the organization will provide incentives to its employees. Organizational goals and employee’s productivity play great roles in determining a scheme of remuneration. Some organizations repay their employees through financial rewards such as the monthly wage, and cost of living allowance, and other benefits...
Words: 1212 - Pages: 5
...Introduction The North South Wales creative industries produce a great value that spreads to ranges of different sectors. It can be a key part of wide array of different economic activities such as in supply chain, technology, marketing and many other forms. It employs thousands of workers in the region along which constitutes of more than 6.8% of overall employees within the region. With the great economic potential of creative industries, it is a must that the country will be able to properly guide and support companies and businesses in the sector. As such, it is worth mentioning the drives and initiatives that government of Australia is taking. Recently, the commonwealth government released its National Cultural Policy, Creative Australia, in which the city of Sydney patterned its Creative City (CC). This policy aims to continuously develop and sustain the creative industry activities. The said objectives, if met is set to perceive a distinction that would separate the city like no others. It will also boost the economic growth and social benefits of the region. Through CC, becoming among the world leader in terms of creative industries is not just a dream now. It can be realized sooner or later. It will also play a very important role in shaping the brand in which Sydney will be known like the other countries who have that halo effect. However, there are a lot of challenges that will come into play that needed to be surpassed. It is expected that the marketplace...
Words: 2026 - Pages: 9
...analyzed the economic as well as the market position of Eastman Kodak Company commonly referred to as Kodak. This report will uncover any competitive advantage that the company has in today’s market. The analysis will begin with a brief overview of Kodak’s industrial history and influences on the economic, social, and technological environment that surrounds the company. The analysis will then proceed to focus on a SWOT Analysis that will designate what Kodak’s Strengths, Weaknesses, Opportunities, and Threats in today economic market. In addition Porter’s Five Forces Analysis will be conducted to determine Kodak’s competitiveness and overall attractiveness it now holds in the market today. To bring out the full strategic potential of Kodak, it is important to understand Kodak’s value chain and recognize the resources available and their capabilities in relation to the firm’s direction. The report will then conclude with a VRIO analysis which determines the core competencies of the firm. Kodak has been a big player on the market since its founding. In order for Kodak to survive we must question Kodak and ask “Does the Kodak of today have the organization to fully utilize their available resources and obtain a competitive advantage?” Eastman Kodak Company is an American imaging, photographic equipment, and services company. The company was founded by George Eastman in Rochester, New York in 1889. Kodak has always operated around four industries. These industries include graphic...
Words: 3463 - Pages: 14
...stiff competition. For many years, Eastman Kodak had control on the film production industry. The firm had managed to time the release of its new products to meet customer demands. However, in the 1980s, Eastman Kodak’s virtual monopoly of the film production industry was rattled by the entry of Fuji Corporation’s high quality film. The new product from Fuji Corporation wore away the big market share of Eastman Kodak. In addition, other generic store brands of film began to emerge in the market, making the competition in film production industry tougher. The entry of new players as well as the improving market share of competitors has eroded Eastman Kodak’s virtual monopoly of the film production industry. B. technological advancement. While Eastman Kodak may have been one of the pioneers in film production, technological advances have paved the discovery and creation of new products. Advancement in robotics, design capabilities and improved communications has allowed faster and easier development of products. Thus, new products can be introduced in the market within months instead of years. Thus, consumers are presented different products in various styles with numerous functions. The availability of many products in the market made the film production industry more competitive. C. changing market environment. With technological advancement and entry of new players in the film production industry, Eastman Kodak was faced with a very tough competition. The once ...
Words: 917 - Pages: 4
...External Environment Analysis The motion picture industry value chain consists of three stages: studio production, distribution, and---the primary focus here---exhibition. When analyzing the external environment of the movie exhibition industry, we will look at the competitiveness of existing firms, threat of new entrants, strength of suppliers, strength of buyers, and threat of substitute products or services. Competitors Four companies dominate the industry: Regal, AMC, Cinemark, and Carmike. There is a great deal of competition between these four companies, but it all comes down to how far the theater is from home, convenience of parking, and proximity to restaurants. These factors play an important role on the competitiveness of movie exhibitors because there is not much differentiation between what each theater offers. The prices are relatively stable from one theater to another, generally, the same movies will be showing, and most theaters offer the same concessions and services. Theaters must find a way to differentiate themselves from their competitors with the look and quality of the theater and the quality of technology used. Threat of New Entrants There is not really a threat of new entrants in the movie exhibition industry unless a new entrant targets a niche market that has not been well served. Startup costs are very high and most new entrants cannot compete with the four major competitors that already dominate the industry. There are generally enough existing...
Words: 2254 - Pages: 10
...exploit all the other markets around the world as well as diversifying its operations to cover a wider range of entertainment products and services. As of December 2015, the Walt Disney company had spread its tentacles to three continents where Disney amusement parks and stores have been observed have been set up in the united kingdom, United States, Spain, Italy, as well as Portugal (Bohas, 2014). Licensed shops have also been set in operation in almost every county around the globe. This paper focuses on the strategies that the Walt Disney Company has adopted to thrive in the industry as well as how the company manages to thrive in the international market. Complementary strategic moves Strategic alliances The company has partnered with other players in or outside the industry not only for the purpose of diversifying its operations but also to strengthen its competitive advantage in the entertainment industry. In December 2015, it was announced that the Walt Disney company was to form a strategic alliance with the Kimberly-Clark corporation. As an impact of the alliance, the Walt Disney parks and resorts would be able to showcase Kimberly- Clark’s brands in the Walt Disney world resort, the Disney cruise line, the Disney resort, and the Disney baby care centers that are hosted by Huggies (Bohas, 2014). The alliance is an extension...
Words: 1806 - Pages: 8
...Social & Cultural Factors an inconvenient truth has a large role in American Culture. Many people can often be seen taking part in activities associated with an inconvenient truth. This is partly because people of most ages can be involved and families are brought together by this. Generally a person who displays their dislike for an inconvenient truth may be considered an outcast. Economic Factors It is not common practice to associate economics with an inconvenient truth. Generally, an inconvenient truth would be thought to have no effect on our economic situation, but there are in fact some effects. The sales industry associated with an inconvenient truth is actually a 2.3 billion dollar a year industry and growing each year. The industry employs nearly 150,000 people in the United States alone. It would be safe to say that an inconvenient truth play an important role in American economics and shouldn't be taken for granted. Environmental Factors After a three month long research project, I've been able to conclude that an inconvenient truth doesn't negatively effect the environment at all. A an inconvenient truth did not seem to result in waste products and couldn't be found in forests, jungles, rivers, lakes, oceans, etc... In fact, an inconvenient truth produced some positive effects on our sweet little nature. Political Factors Oh does an inconvenient truth ever influence politics. Last year 5 candidates running for some sort of position used an inconvenient truth...
Words: 963 - Pages: 4
