Introduction to Event Management Assignment

Running head: INTRODUCTION TO EVENT MANAGEMENT
Introduction to Event Management
Name of Student
Name of University
Author Note

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INTRODUCTION TO EVENT MANAGEMENT
Table of contents
Overview and identification of key issue...................................................................................2
Analysis and evaluation of opportunities and capabilities.........................................................2
Strategic alternatives..................................................................................................................3
Recommendation........................................................................................................................4
Reference....................................................................................................................................6

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Overview and identification of key issue
Sirius Satellite Radio and XM Satellite Radio are two different companies that have
the same objective of transmitting signals to customers. The launch of the companies was
exactly a year apart from one another in 2001 and 2002. Apart from the founding members,
both the companies had similar contributions in the effort to launch satellites for the
providing programme broadcast to people around the world. The highlights of the companies
were that both the companies spent millions of dollars for the launch of satellites and the
manufacturing of equipment that are required for broadcasting information and conduct
market researchers to gain subscribers of their products.
However, the level of competition in the industry provides to be a cause of concern
for the companies. In order to reduce the competitors, in 2007, both Sirius Satellite Radio and
XM Satellite Radio came to the agreement of merging with one another. The reason behind
the merging of both companies is the fact that XM was receiving poor signals for the
transmission of satellites feeds. Moreover, the decision was also made in order to mitigate the
threat of competition in the industry. It was also predicted that both companies could suffer a
huge financial loss to the lack of broadcasts and subscriptions.
Apart from these the fact that both companies were based on a subscription business
model prompted the idea of merging with one another. This resulted in the success of the
satellite radios as, by 2007, both companies had gained a wide range of channels. According
to Baysal et al., (2016), the XM had gained more than 170 channels while Sirius gained more
than 133 channels. This significance was the fact that both the companies received different
channels that could provide versatility to the people. Despite the merger, Sirius XM satellite
radio suffered a near-death experience that led to the fall of the financial stability even

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leading to bankruptcy after a certain point in time. The fall in the position of the company
was mainly due to the cost of competition.
As stated by Cooper, Doody & Allwood (2017), the company suffered a great
financial loss in trying to compete with organisations that possessed high-level of threat in the
market. The application of new strategies can help the company to survive the experience that
they had during the 2008-2009 session (Kent, Dias & Kamran, 2015). These strategies
include the growth of customers and subsidiaries. As seen from the situation, the company
lacked cash in order to make the debt payments. This was the main reason for the loss of
financial position of the company.
Analysis and evaluation of opportunities and capabilities
According to Hollensen (2015), internal analysis of a company usually identifies the
strengths and weakness along with the resources and capabilities. The internal analysis is
done in order to make recommended changes that are required for the improvement of a
company. The policies, strengths and resources of a company are analysed based on the
performance of the organisation. In the case of Sirius Satellite, merging with XM Satellite
had helped in improving the resources of the company. On the other hand, the problems faced
by XM Satellite were also solved. However, the internal strength of the company can be
analysed after the incorporation of new strategies. Post the near-death experience situation
SiriusXM underwent changes in the internal environment of the company. This was done in
order to ensure that factors that can be controlled by the managers do not become the main
cause of hindrance for a loss of the company.
The reduction of long-term debts can help in maintaining the financial stability of the
organisation. As seen from the previous experience, one of the reasons for the failure of the
company was due to the inability to pay the debt. This led to the lodge of court complains

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from investors. The company also launched streamline operations in order to gain more profit
within a few years (Goetsch & Davis, 2014). The operating costs of the companies that had
signed before the merger of the companies were also reduced. These internal strategies
increased the financial stability of SiriusXM and ensured that opportunities for improvement
are created. The fact the company could form new strategies despite the setback is an
indication of the success that the merger had on the business of SiriusXM.
The external analysis of the company identifies the competitors that exist and the
level of threat they produce. According to Dobbs (2014), the external analysis of a company
takes into account various factors that may affect its success. These factors normally include
the political, economic, social and technological factors. Barring these competitors, both old
and new also pose threat to the success of a company. This can be evidenced by the fact that
it has been seen that due to the high competition in the market, SiriusXM developed financial
loss. The cost required in order to remain competitive with the competitors are more than the
annual income of the company. The introduction of HD radio helps in the easy transmission
of satellite signals. In the modern days, the use of updates technologies is essential in order to
dominate the market and ensure that organisational productivity increases (Calvo-Mora et al.,
2014).
Advanced In-Depth Infotainment System is one of the modern technologies that
competitive companies such as Liberty Media use in order to gain easy access to the market
(Boyd et al., 2017). However, investment from troubled companies like John Malone can act
as friendly advisors for the company. Such investments have helped SiriusXM to not only
survive the big downfall but also helped it to develop new strategies that are essential for the
company. Such investments helped in the turnaround of the company and within a period of
seven years, it had 25.6 million subscribers (Xiang, Archer & Detlor, 2014). Apart from the
competitors, the company also faces challenges from the climate. This is evidenced by the

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fact that one of the reasons for the merger between Sirius and XM is the fact that XM had
been receiving poor transmission signals. Hence, climatic factor plays an important role in
the success of satellite companies like SiriusXM.
Strategic alternatives
According to Hill, Jones & Schilling (2014), making strategies can help an
organisation to gain success in the competitive market. However, development of alternative
strategies can get an organisation to remain prepared in the case of failure of the initial
strategies. Having analysed the situations that led to the fall of the company, certain strategies
can be undertaken that can help in minimising the damage in the future. These strategies were
developed immediately after regaining the status of the company from its downfall. The
strategies focused on four main aspects of the company. These included the programming,
marketing, radio distribution, and satellite system along with customer service. These
strategies are important in order to maintain the revenue of the company and increase its
efficiency in the business market (Rothaermel, 2015). One alternative strategy that can be
developed is the reduction of duplicate programmes.
Most of the times radios broadcast programmes that are almost similar to one another.
These include multiple musical shows from different parts of the country. Instead, a mixture
of shows can help the company to maintain the regular fan base. The replacement of old
programmers can help in the refreshment of the mind of the people. This can be effective in
increasing the rate of subscription which in turn can help in enhancing the business. Grant
(2016) stated that the application of such a strategy can help in the increase of profitability of
a business. In the case of SiriusXM, the profitability increased by $150 million due to more
subscription and flat costs.

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The marketing strategy can involve targeting the increase of subscription. In order to
do so, the company need to focus its attention on the programmes that lead to the gain of
subscription for the company. Such programmes can be identified by proper market research
that analyses the preferences of the customers (Armstrong & Taylor, 2014). Creating
partnerships with other companies such as vehicle companies can help in increasing the
sponsorship. It has been seen that in 2014, that the focus of marketing has been the new as
well as existing vehicle industry. For example, increasing subsidiaries through the use of cars
can help in about 70% growth of the company. According to Radebaugh (2014), a trial
subscription can also help the company to gain the trust of the customers regarding the type
of programs that they perform.
Different plans and packages can also be used in order to increase subscription and
make people aware of the type of programmes that are conducted by SiriusXM. Radio
distribution strategy can involve selling products to customers directly via the use of
websites. In order to maintain customer satisfaction, it is necessary that SiriusXM retain
customers and increase the options for more interaction (Kent, Dias & Kamran, 2015). This
can help in gaining the feedbacks of the customers for improvement. SiriusXM has hired
customer service personnel that increase the ability of the customers to interact with the
company. Despite the introduction of the new strategies certain changes can be recommended
in order to ensure that SiriusXM implements the strategies to a greater extent and ensures that
future growth of the company can be made smoothly.
Recommendation
After the analysis of the strategies it can be said that in order to maintain its
dominance in the market and avoid further mistakes, SiriusXM needs to ensure that the
strategies are followed in the right manner. Improvement in the strategies can have a positive

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impact on the company. This is because an improved strategy can take into account any
problems that may come in the way of the company. Every step in the improvement of the
strategies needs to be analysed clearly and the managers need to ensure that the changes are
implemented in an effective manner.
One such improvement may be done in the form of marketing strategy. The manner in
which subscriptions can be adopted needs to be improved as it is important for gaining the
trust of the customers. More programmes can be created in order to increase the customers
interested in the programmes of the company. It is to be considered that people purchasing
vehicles tend to buy more subscribers in order to reduce the cost of after sales value of the
vehicles. Hence, it is necessary for the company to invest in the promotion of vehicles in the
market. SiriusXM can provide sponsorship in the subscription of the programmes of the
satellite station by keeping in mind that the people view the programmes that are offered to
them.
This can be done by understanding the tastes of the people. In this regard, external
analysis of the business environment can help SiriusXM to make a strategic decision
regarding the ways by which target market can be developed. This involves targeting the
vehicles that are more popular with the people of the society. Creating subscriptions on those
types of vehicles can help SiriusXM to increase the finance and ensure that the company get
the required promotion for reaching the customers. This can also be a way to maintain a
relationship with customers. Trail subscriptions can help in improving the relationship with
the customers. Thus, it can be said that the increase in subscription can be ensured by
analysing the demand of the customers in the market.
In order to ensure that the recommended strategies have been implemented and are
providing positive results to the company, it is necessary that the managers conduct a proper

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marketing survey. This marketing survey is essential in order to understand the manner in
which people respond to the subscription strategy. The goal of SiriusXM is to reach 500
subscribers for the programmes that the company offers and provides reimbursement to the
retailers. This also includes making plans and packages that involve providing attractive gifts
to customers subscribing the programmes of the company.

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