Business Consulting for London School of Science and Technology: Increasing Course Portfolio
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Added on 2023/06/14
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This report provides a case study of the London School of Science and Technology and their decision to increase its product portfolio. It includes STP analysis, competitor analysis, PEST analysis, and recommendations for the organisation.
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Table of Contents Executive Summary.........................................................................................................................3 INTRODUCTION...........................................................................................................................3 MAIN BODY...................................................................................................................................3 Background of the Client.......................................................................................................3 STP Analysis..........................................................................................................................4 Competitor analysis................................................................................................................5 Positioning..............................................................................................................................5 Factors relating to the problems of organisation....................................................................5 Use of PEST analysis to analyse four factors........................................................................5 Recommendations:.................................................................................................................6 CONCLUSION................................................................................................................................6 REFERENCES................................................................................................................................8
Executive Summary The Business consulting is basically a area that involves professionals who are involved in providing expert and professional advice to a individual which can help in development of understandings and managing of the individual properly. The main role of business consultant is to help the organisations to improve and optimize the overall business model. The report basically involves the case study of the London School of Science and Technology and their decision to increase its product portfolio. INTRODUCTION Business Consulting basically involves the implementation, education and planning of the business which is used by the managers in order to further complete and study a project. It plays very important role for the purpose to develop the skills and understanding of a topic that helps in improving the various activities of the business. It basically helps in improving the overall business model. The current report is basically based on the case study of the London School of Science & Technology. The LSST is considered to be one of the prominent colleges in the UK. In the last couple of years, there have been various new entrants into the market which resulted in increase in demand for the skilled and qualified staff. In context to this the organisation is deciding to increase its course portfolio and focusing on introducing professional specialists qualifications which are related to the financial and accounting management sector that mainly focuses on the qualifications that aims at ACCA or CIMA. MAIN BODY Background of the Client For the purpose to develop skills and knowledge regarding a particular area there is a requirement of research skills and information that can help in managing the various activities of the business. The practice of Business Consulting involves collection of the information in relation to a particular topic and management of the performance of the business. LSST stands for London School of Science and Technology which is basically a private higher education provider with a total number of four campuses(Bode, Denevaand van Sinderen, 2021).The college involves approximately 4000 students who are a part of various programs and courses
which helps in management of the business activities. LSST being one of the most popular and biggest colleges in the UK. The organisation is now focusing on recruiting from a decreasing pool of potential applicants(Deelmann and Nissen, 2019).Moreover, the senior management is also focusing on increasing the course portfolio and also working to introduce in the next academic year professional specialists qualifications who are relevant in the financial and accounting management sector with focusing more on the qualifications and aiming at CIMA and ACCA. For this purpose, the organisation has requested the Human Resource Department to identify various ways of recruitment of the qualified academic staff for the purpose to deliver these specialist professional qualifications through development of various tools and frameworks which basically involves the appropriate motivating and hygiene factors. STP Analysis Segmentation:In the market research, it is the market segmentation which is the process of dividing a broad consumer or business market.It is normally consist of existing and potential customersintosubgroupsofcustomerswhichisbasedonsometypesshared characteristics(Brun and et.al., 2017). Segmentation has also been done on the basis of different kinds of students at the college and according to different backgrounds as well. Targeting:Targeting in marketing basically involves breaking the target audience into segments and then design market activities accordingly. It basically reach the segments which most likely responsive towards the efforts.This kind of activity basically increases the success rate of an organisation. In reaching towards the potential customers. The target customers are the students of this college. They are of different age group. Targeting is also based on the qualified individuals for purpose of recruiting staff at the university level. Positioning:It is basically about the kind of image they want to build up in the minds of their customers. Positioning plays a very important role in the marketing and at organisational level as well (Fu and et.al., 2017). Positioning can also be done with support of different social media platforms and technological apps. According to this issue they can position the market through support of technological developments and apps as well. As today's youth is majorly on social media platforms so its easier to target their customers and can also convey their message into effective manner.
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Competitor analysis This analysis aims to achieve better understanding of the environment business is operating in and helps in obtaining a competitive advantage in the market. This analysis attempts to explore various opportunities and identify factors that impact upon the performance of an organisation.ThisanalysisisconductedbyLSSTtogaincompetitiveedgeagainstits competitors including Transactor Global Solutions limited and Luntstone limited etc. Positioning By providing high educational opportunities and improving scope of learning as well as career development opportunities, the organisation aims to maintain renowned position in the market(Selyutina, 2021). Factors relating to the problems of organisation LSST face challenges in the admission of students because of their growing interest in other art related fields like music, sports and other activities, also individuals nowadays are engaging in planning start-ups. Another challenges that the educational industries are facing is the current situation of pandemic which allowing students to become lethargic and serving as a hindrance in the learning and skill development of the organisation(Singh, 2019). Use of PEST analysis to analyse four factors It is one of the business model which is used by the organisation to analyse and keep an eye on external factors which can impact the organisational future goals and objectives. In relation to this, it helps the company in determining future course of action and developing measures for strategic management. Moreover, it enables the firm to explore opportunities and gives advanced threat warnings which helps the firm to perform calculative actions in order to increase its market (Sizevon den Eichen, Matzler and Hautz, 2019). The brief explanation of factors of PEST analysis are: Political factors:The political threats which includes risk associated with political instability , corruption, export and import restrictions,and legislations to protect workers, environment and consumers refers to political factors. In relation to it, political measures relating to tariffs and taxes are some of the political forces which can effect the decision- making power of the company.
Economical factors:The factors which depends on economic factors of production, interest rate, consumption level, supply and demand etc. These factors can have a major impact on influencing the decision making power offirm especially instaffing and its operational strategies. Moreover, it can also impact the pricing strategy of the business. Socialfactors:Thefactorswhichincludeschangeincustomertasteand preferences ,change in population, educational levels and income disparities are known as social factors. These factors possess a greater opportunity and threat in front of the company. The study of these factors is crucial for the organisation in order to formulate its market growth strategies and policies. Technologicalfactors:Thefactorthataccompaniestechnologicalandinnovation changes over a period of time are technological factors. Organisations needs to timely monitor and analyse the external market conditions in order to find crucial technological changes that can influence the performance of the firm. Moreover, it helps the company to optimally use its resources that can leads to generating high level of profits. Recommendations: After systematically analysing the above factors of PEST it has been recommended that LSST, which is one of the biggest college in UK should understand the political factors of the country before recruiting qualified academic staff as change in government policies can have an adverse impact on LSST. In relation to it, the college should make rules and policies after monitoring the rule of the land. Furthermore, the college needs to focus on the economical changes of the country regarding change in supply and change, consumption level etc. in order to develop further strategies. Moreover, the college should also lays its focus on social factors such as change in customers tastes and preferences, change in educational levels etc. these factors needs to be properly analysed in developing recruiting strategies. The last factor which the college should lay its importance is on technological factors as change in the process of recruitment can influence its strategies . Thus , the college should critically examine and evaluate the factors of PEST analysis before making strategies for recruiting new staff members. CONCLUSION As per the view of the respective report, it has been concluded that business consulting relates to research conducting process where information in massive amounts have to be
collected and analysed to obtain conclusive results. For the proper management and execution of business activities, optimum utilisation of resources is important to ensure high performance of a business entity. Maximum admission of students is highly required along with the integrated efforts of IT department and human resource management in constantly changing dynamic environment.
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REFERENCES Bode, M., Deneva, M. and van Sinderen, M.J., 2021, October. Digital IT Consulting Service Provisioning–A practice-driven platform architecture proposal. In2021 IEEE 25th International Enterprise Distributed Object Computing Workshop (EDOCW)(pp. 251- 260). IEEE. Brun and et.al., 2017. SYRMEP Tomo Project: a graphical user interface for customizing CT reconstruction workflows.Advanced structural and chemical imaging,3(1), pp.1-9. Deelmann, T. and Nissen, V., 2019. Institutionalization of Consulting Research: Review and Comparison of Two Approaches in Germany Over the Period 2007–2017.Advances in Consulting Research, pp.53-75. Fu and et.al., 2017. A matrix approach to the analysis and control of networked evolutionary games with bankruptcy mechanism.Asian Journal of Control,19(2), pp.717-727. Martínez‐Rubin,N.,2019.IndependentEvaluationConsulting:AnEvolvingField.New Directions for Evaluation,2019(164), pp.13-25. Nissen, V. and Müllerleile, T., 2019. How to Design, Implement, and Manage Accepted BusinessProcesses.InAdvancesinConsultingResearch(pp.147-170).Springer, Cham. Selyutina, L and et. al., 2021. Applying a consulting system in the management of construction companies’ interactions. InE3S Web of Conferences(Vol. 311). EDP Sciences. Singh, P.E., 2019. Impact of Market Forces on Engineering Consulting Industry.International Journal of Management, IT and Engineering,7(11), pp.190-193. von den Eichen, S. F., Matzler, K. and Hautz, J., 2019. Open Management as Management Innovation: Thoughts About New Business and Disruption in Consulting. InAdvances in Consulting Research(pp. 213-227). Springer, Cham.