Global Strategy And Foresight - Assignment
Added on 2021-01-02
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Business DevelopmentLeadership ManagementFilm and TheatreDigital Media and Video GamesMusic
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Global Strategy AndForesight
Table of ContentsINTRODUCTION...........................................................................................................................1STEP: 1............................................................................................................................................1Understanding of the firm......................................................................................................1STEP: 2............................................................................................................................................2Industry analysis:....................................................................................................................2STEP: 3............................................................................................................................................3ETO’s key competitors...........................................................................................................3TASK 1............................................................................................................................................4Sources of competitive advantage and its relevance to management: ..................................4TASK 2 ...........................................................................................................................................8Firm’s strategy and strategic position.....................................................................................8TASK 3..........................................................................................................................................11The role of innovation and internationalisation in a firm’s Competitive Advantage...........11CONCLUSION..............................................................................................................................12REFERENCES................................................................................................................................1.........................................................................................................................................................2
INTRODUCTIONGlobal strategy is considered to be a plan that is developed by company to target thegrowth beyond their borders. It is a method of competing as well as expanding into globalisedmarket. This is essential for company to expand their business internationally as it facilitates anopportunity for more profitability and sales (Biscop, 2012). Global foresight is essentially utilisein company and is combining process of future work. It is considered to be an integral part ofcorporate cultures as well as global strategies. It is important for business as this allows them toforesight for the global business. This report includes three steps as well as task. There is adifferent requirement given which need to be fulfilled. For this report chosen companyEntertainment one which is a publicly traded Canadian leading multinational mass media andentertainment company. Its headquarters is Toronto, Canada. In this report, “Entertainment One” is taken as a case study in all tasks as well as threestep are to be explained. In Step 1 understanding of the company are to be mentioned. In step 2analysis of industry has to be performed and in step 3, identify ETO's key competitors alsoanalysis for chosen company revenue, key business units and compare with their competitors andanother major players. Task one defines about the sources of competitive advantages and itsrelevance to the management of company while task 2 describes the strategies which a companyis used and its strategic position. Task 3 explains the role of innovation in an organisation andinternationalisation in a firm's competitive advantage.STEP: 1Understanding of the firmIn this report, Entertainment One company is taken as a case study. This is UK basedcompany operated in media and entertainment industry. This is a global media and entertainmentcompany with an annual turnover of over one billion US dollars. The firm is primarily involvedin production and distribution of music, films and television series. The firm owns popularanimated children's series like Peppa Pig, PJ Masks among various other productions. In the UK,media and entertainment industry is expected to grow at a compound rate of 3% per annum overthe next 5 years and will be worth £76 billion by 2022 (PwC, 2018b). Its annual revenue is $1.5billion and key business units and their revenues are Film - £402.2 m, Television - £ 539.0 m,1
Music - £ 49.4 m, Family brands -£ 138.6 m. The market of Media and entertainment isdominated by firm.STEP: 2Industry analysis:Media and entertainment is now considered as a vast industry for all age group thatincludes music, movies, TV and so on. Global media and entertainment market is collected toissue centre stage again. This market hold some important opportunities for the players ofindustry. This industry comprises aggregation, content distribution, advertising, news and data,creation and entertainment by many media platforms and channels.The key players are Viacom,Walt Disney, HBO, YouTube, BBC, News corporation, Televisa, Comcast, Vivendi and so on.Key segments are film, music, television, social media, video games and so on. Current globalrevenue is $994 (Digital) and $1156 (Non digital) (Entertainment and media revenue, 2019). Insome regions where global media and entertainment industry are Europe, Japan, China and soon.Industry projection for next 5 to 10 yearsIn global entertainment and media outlook, it is predicted that UK sector will be developat rate of 3% per annum over the upcoming five years and its value 76 billion within 2022.Digital expenditure goes one to lead industry growth at 7% annually (The next five years for theUK Entertainment and Media industry, 2019). TMT industry have been experiencingconvergence for longer period. Customers are connecting more and more than before.Boundaries are blurring among traditional segment of media and competition are maximisingbecause this sectors is becoming grounds of battle for telecoms, internet and technology firms.Most of the customers love video content and their terms that goes on to dominate theirexpenditure habits over next five years. Therefore, whole growth is slow down becauseupcoming generation of customers are coming online so, it forecast that there will be growth ofmobile internet access at 9% annually in coming 5 years as 5G will be rolling out increasesexperience of mobile. 2
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