Table of Contents I.Executive Summary.............................................................................................. II.Purpose of the Report........................................................................................... Purpose of the Report III.Business Situation Analysis.................................................................................. Company Overview STEEPLED Analysis - Overview Industry Analysis - Overview Market Analysis - Overview Analysis of the Five Forces of Competition – Overview Comparison SWOT Analysis IV.Business Opportunities for Innovation and Reform................................................ Business Opportunities for Innovation and Reform Evaluation of Opportunities for Innovation and Reform V.Recommendations..............................................................................................
Executive Summary The report has focused on analysing the business environment and innovation policies of a company in concerned to Australian market: ABC Contact Centres. The paper had been discussing the company essentials of environment and comparing it with the industrial factors from the available data.
Purpose of the Report Purpose of the Report The purpose of the report is to shed light on the business innovation strategies to be implemented in ABC Contact Services Pty Ltd with respect to their scope of opportunity in the field. The reporting is based on analysing competition in the market, competitor analysis, identifying opportunities to innovate and reform the working styles, develop the plan and implement the decided strategies. While assessing the scenario given for the company, the report will focus on the environment analysis of the company to seek the information of its stakeholders and understand the internal and external needs to innovation in the company.
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Business Situation Analysis Company Overview Background of the company: ABC Contact Centre Services Pty Ltd is associated in offering contact solution based in Australia with Melbourne as base of headquarters. The company was founded by Ms Jacinta White in the industry with the intention of offering centres of contact solutions to medium and small business organisations in the year 2006. The company is reliably is providing customers with services like reception, customer support, contact handling to the SMEs at cost effective rates. The service list includes 24/7 call centres that is supporting outbound and inbound management contact in a range of business categories and structures like B2C and B2B. Company vision, mission, and values: The company visions to become the leader in the industry with their performance efficiency and providing services to client at affordable rates. Its mission is to focus on consistency in performing deliverables and on time along with variation of services. The values of the company are completely based on providing integrity and quality to clients that encourages innovation, accountability, diversity and innovation. Review the organisational culture: The organisation culture of the company have been the impact on their performance that reflects positive operations since 2016 with a brand image focusing on quality and efficient services. Organisational chart: The organisational roles begin with the Board of Directors, CEO under whom the different departments work. Sales and marketing, HR, Contact Centres management and the Finance team. The subcategories of the stated four departments unite and forms the organisation’s operating units. Current business market: The current business market comprise industry offering live virtual reception services,
market researching, in sourcing, inbound services of customers and outbound services for sales. Customer profile: Key customer segments are client base from both B2B and B2C. Business model: The company working culture follows business model of adherence culture that relies on the policies of the company and decide actions to be performed accordingly. Positioning: The company focuses on delivering timely services and prioritising customer needs. Strategy for competing: The competition have been staged with tough competitors and that made the company focus on 24/7 operations, increase in B2B contracts, range of variation in services. Strategic goals: Online promotions, industry coverage through press and word of mouth are marketing policies. STEEPLED Analysis - Overview STEEPLED Analysis SocialThe focused market base B2B and B2C offers the company with requirement of serving for contact centres as improvising customer services is a trend in the market with 73% of the industry focusing use of technology and customer centric channels. TechnologicalThe technological gigs for the SMEs is a great support to make them morereachabletotargetcustomersandtheneedoftechnical involvement in the SME industry is in trend in Australia industry that can help the companies optimising their service channels. EconomicThe economic conditions develop with development of industrial growth and Australian centres of contact are focusing on improving
STEEPLED Analysis customerservicesspendingasmuchasamountneededinan economic welfare. The economic statistics of the industry reflects more than $1bn of revenue, annual growth of 3.4% and employment of 11,000 spaces in 559 businesses. EnvironmentalThe environment of the operating industry have been looked into as the impact of technicalities on the environment. The CSR of the company is in regards to the environment that includes maintain environment protection rules and norms. PoliticalThe political agenda of the industry includes data resourcing and permissionsofaccessingdatabeinginterpretedbycyber administration units and social media interfaces. LegalThe legal aspects of the industry and the company imbibes the policiessetbythegovernmentandlegislationbodieslike employment policies, working policies, work safety policies and many different ones. EthicalThe ethical factor includes interest of the company in abiding by their formed policies in serving clients as well as administration. DemographicThe demographic factor targets the group of customer had to be served including the market of B2B and B2C clients in the SME industry. Industry Analysis - Overview As per the statistics analysed by Fifth Quadrant that was released in 2018, the industry of contact services is striving to improvise the experience of customers (CX) with the help of
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technological implications. The industry currently holds around 559 businesses with more than 11,000 employees and generating revenue of $1bn. The contact centres are claiming to be suffering from lack of resource sufficiency and hence, almost 45% of the industry is struggling to achieve efficiency. Changes: The changes are witnessed in the terms of developing contact centres that enhance the support for SME industry by providing technical support in the last five years. Trends: The trends of the market are developing customer services for the SME through the use of technology. The awareness regarding the making of customer-centric channels are highly demandedbytheindustryfocusingtogetthenetizens’market.ContactCentre benchmarking reports that 143 centres along with different industries were surveyed reflected the key findings: The operational growth is expected a hike of 5%, outsourcing technologies growth by 78% of on-shore locations, interactions decreasing due to increase in multichannel, employee retention has gone high and technological development requires more investments. Methods of business: The industry is largely following the adherence culture of business model that solicits the company policies for developing the performance and operations. However, with regards to the need of developing the customer-centric channels of communication, the industries along with following the culture must develop the communication strategies with the customer and invest in developing core communication channels. Standards and best practices: 1. 24/7 operations help customers to get in touch with the consultant help in any required point 2. The range of services depends on variety of client demands 3. Feedback process to understand and analyse position in the market and work on flaws
Legislation and regulations: Legislations related to the use of data and breach of contracts are implied. The developed policies in companies HR administrations cover most of the company policies that are in alignment with growth of digital market. Market Analysis - Overview Market: The Australian market of call centre helps have moderately developed over the last five years that rises with the need of value adding services in the offerings. The market comprises of information outsourcing where the companies have targeted India and Philippines for extending their operations. The size of the market, in volume and value: The growth forecasted for the years 2019 to 2024 is: Revenue: $1bn Annual growth: 1.8% Employment: 14,120 Businesses: 551 Customer segments and patterns: The segments and patterns of customer in the industry include a range of key buying industries like accommodation, food retail, financial services, and event and management services.Thesellingindustriesincludecomputerandwholesaling,temporarystaff services, telecommunications and office property operators. Typical products and service offering: Accommodation, food retail, financial services, and event and management services, computerandwholesaling,temporarystaffservices,telecommunicationsandoffice property operators. Market players:
Serco Group Analysis of the Five Forces of Competition – Overview Five Forces of Competition Rival sellersSerco group is the most noticeable amongst the rival sellers Potential(new) entrants The potential entrants at this stage is going to include companies coming up with technological support along with human capital to enhance the workforce. Substitute productSubstitutes can arise as technological applications that simplifies the customer needs Supplierbargaining power The supplier in this industry are network help providers and increase in competition will lead to increase in their bargaining power Customer bargaining power Customersareofferedwithvariedserviceinthisindustryand increase in competitors will lead to customers’ power of increasing bargain rate. Comparison The placement of the business is considered to be at the moderate stage as per the data reflects in the research context. The customer base can be considered all the SME in Australia currently seeking to be a leading in offering best for the customers. The chain of serving the customer right in every way is an opportunity for the growing industry to touch the success with introducing innovation in the industry. The opportunity will lead in the industry, comparing the ideas of the growing companies with respect to the type of business and resources will be defined for each specified. Thetwoinnovationsidentifiedintheindustryincludescorecustomerexperience
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technology and business welfare for increasing the productivity of the companies. SWOT Analysis SWOT Analysis StrengthsThe company is following adherence culture of business module that enhances to boost the business with reformed policies from customer feedback. WeaknessesThe company falls off in performing as an effective in terms of quick responding to the business. OpportunitiesTheopportunitiesarehugeasofinthenewindustrywith development of technology and service channels ThreatsThe threats of new entries in the market is susceptible
Business Opportunities for Innovation and Reform Business Opportunities for Innovation and Reform ThebusinessanalysisoftheABCContactcentresandtheindustryreflectsthat opportunities are there of the industry in bringing revolution the following factors: ï‚·Impactful growth in good customer experience for resolving the issues quickly ï‚·Improvising the customer service channels in android phones, self-servicing, chats and email. A personalised profile and application software is yet to be developed. ï‚·Making the customers less on waiting gives an opportunity to develop fast processing network services with more empowerment to human resources. ï‚·The use of cloud technology is at the peak Evaluation of Opportunities for Innovation and Reform Opportunity < Add > Compatibilitywith business goals and objective Impactful growth in good customer experience for resolving the issues quickly Cost-Benefits Analysis ï‚·Key Costs List: new network provider, systems, professional IT engineers ï‚·Key Benefits List: Strong network, less disconnections, quick resolving to issues if network. ï‚·Key Cost total estimation: $50,000 ï‚·Key Benefits total estimation: $700,000 RiskManagement Analysis - Summary Risk description Risk Probability Risk Impact Risk rating Strategyto manage risk - overview Failure in technical networking highHigh4/5Strong network service
Opportunity < Add > provider Degree of change for the business andthe ramifications for the businessandits culture The introduction of this strategy will bring change in the operations of the company.
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Recommendations The entire report focused on the development of IT technology in the field of contact centre in Australia market that suggests huge development in the sector of client service efficiency and serving good customer experience policies.