Regent Group: Analysis of Problems and Market Environment

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This report analyses the problems faced by Regent Group, its competitors, target customer market, and external environmental factors. It identifies the top three issues faced by the client, which include lack of training and development of staff, lack of motivation, and lack of staff. The report provides recommendations for improvement and utilises Porter's Five Force Analysis and STP evaluation to assess the market environment.
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Research
Report
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Table of Contents
Table of Contents.............................................................................................................................2
Introduction......................................................................................................................................3
Main Body.......................................................................................................................................1
1. Brief background of the client.....................................................................................................1
Problem facing by the Regent Group..............................................................................................1
2. Competitors..................................................................................................................................2
Target customer market...................................................................................................................3
3. Top three issues that the client is facing......................................................................................5
CONCLUSION................................................................................................................................6
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Introduction
Business consulting is a vocation during which firms help other businesses improve and
optimise their overall business strategy. A consultation firm provides specialised experience in
corporate concerns and collaborates with customers to identify strategies for improving
performance and efficiency. The team's key talents include logical reasoning, creative thinking,
strategic planning, and many others. The chosen client for the business consultancy study report
is Regent Group, a popular community oriented consultancy that offering various courses in
order to improve the academic performance of the Children. The main focus of the Regent Group
is to be a premier supplier of high-quality education that enriches children's lives and the
communities in which they live. The main objective of this Group is to provide our clients with
competitive pricing and great value for money and also maintain the highest level of
professionally and personally ethics to analyse and review systems and work practises on a
regular basis. Regent Group mainly established in the year 2010 and this Group is constantly
working for the development of the people. The primary motive of this study is to analyse the
problems which are mainly facing by the Regent group. This report will also analyse the present
areas of the market such as competitors, target customers and also analyse the impact of external
environmental factors. At the last, this report will identify the three issues which are facing by
the clients.
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Main Body
1. Brief background of the client
The Regent Group's major goal is to be a leading provider of high-quality education that
enhances the lives of students and the communities in which they live. The major goal of this
group is to offer competitive price and excellent value to our clients, as well as to maintain the
highest level of professional and personal ethics by regularly analysing and reviewing systems
and work practises. Regent Group was founded in the year 2010 and is dedicated to the
development of individuals.
Mission
“To be a premier provider of high-quality learning that enriches kid's lives and the surrounding
communities."
Vision
"To be a premier supplier of high-quality education that enriches children's lives and the
surrounding communities."
Objectives
To assist customers in better identifying their needs so that they can add more technology, time,
and location value to outputs and also provide our clients with competitive pricing and great
value for money. Apart from this, uphold the highest standards of professional and personal
integrity. The main motive of this Group to analyse and evaluate the systems & methods of work
is on a regular basis.
Problem facing by the Regent Group
Regent Group is facing with the problems with the lack of recruitments, lack of staff, lack of
training and development of staff, lack of resources, lack of planning, lack of motivation, low
level of positioning so that this consultancy group can improve their performance level. All these
problems are affect the performance of the Regent Group.
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2. Competitors
A competitor is a person, organisation, team, or business that competes in the market by
offering items with similar benefits. With the help of Porter's Five Force Analysis, Regent Group
can analyse the impact of the competition. This analysis is used by regent group to analyse rivals.
Porter's Five Force Analysis is a framework that is used to analyse forces that influence every
industry as well as assess industry attractiveness. The Porter Five Force Model's forces in
relation to regent group are listed below –
New entries - The force of new entrants into the market has an influence on the dominance
of a firm in an industry. In the education and learning industry, a new entry requires a
significant amount of capital to start a business and run it successfully. The threat of new
entrants is minimal for regent group since new entrants in the education and learning sector
require a substantial investment and significant desire to reach the client's capacity (Bell and
Rochford, 2016).
Supplier power - Suppliers are businesses or individuals who arrange for a company's
production factors. Regent group establishes and maintains contractual relationships in order
to operate in the education and learning sector. Because the number of providers in the
education and learning market is limited, suppliers have a lot of negotiating power since
they may rise or lower prices.
Buyer power - Buyers are stakeholders who push down company prices. Buyers in the
education and learning industry are a group of students. Due to the large variety of study
options offered to regent group, buyers have strong negotiating power (Craggs ,Murphy and
Vaughan, 2018).
Rivals - Rivals are firms in the same sector that provide identical services to the same target
consumer. A big number of businesses operate in the education and learning sector to
provide knowledge enhancement materials. It has been determined that important players
such as University of Bolton, LSST, University College Birmingham, York St John
University & others pose a significant danger of competitive competition to regent group.
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Target customer market
For the regent group, potential customers are analysed using STP evaluation, a three-tier
approach that allows for the development of particular advertising campaigns in addition to
practical marketing strategies. The following are components of STP Analysis with relation to
the regent group:-
Segmentation - It is a method that divides the overall market into smaller groups with
similar characteristics in order to efficiently satisfy client demand. Regent group divides the
learning and education business into regional and demographic segments. People in a certain
place with comparable cultural influences and requirements are segmented geographically.
Demographic segmentation also includes classifications based on skin colour, age,
employment, and family structure (Fozer and et. al., 2017).
Targeting - It comprises identifying the most valuable and productive segment of the
market in order to increase the company's efficiency and profitability. Postgraduate or
graduate assistantships, graduates, professors, prospective and future classmates, assessment
creators, and others are among the target markets for regent group.
Positioning - It's the idea of growing along with a favourable visual picture in the targeted
audience. Managers are employing promotional tools, including the addition of an
administrative homepage to social media platforms, in order to establish regent group's
distinct place between target audiences.
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External Environmental Analysis
In order to analyse the external business environment situation, Regent Group need to utilise
PESTLE analysis which are elaborated below -
Political factors - The stable political structure in the United Kingdom provides expansion
chances for regent group; since the consultancy receives various sorts of state financing that
helps its students pay for their learning. Furthermore, the UK government is already cutting
its education funding, which is considered as a severe challenge for the Regent Group in the
future (Gheibi and et. al 2018).
Economic factors - Many learners in the United Kingdom take on significant mortgage to
pay during their education. Furthermore, the weakening employment market makes it
difficult for the Regent Group to encourage students for education because other
marketplaces offer more advantageous and well-paying opportunities.
Social factors - Student debt is a major problem affecting educational institutions in the
United Kingdom. The emergence of unsustainable debt leads in a decrease in the amount of
learners at regent group's institution. Furthermore, students' enthusiasm to pursue higher
education leads to greater experiences for the consultancy (Guo, and et. al 2021)
Technological factors - Online education options in the United Kingdom are rapidly
developing. Regent group has big intentions to organise a great quantity of educational
resources online as well as for free, which will let the business supply critical learning
information to students at every time (Zhao and et. al., 2016).
Environmental factors - The government of the United Kingdom is taking significant steps
to safeguard the environment. Regent group will be able to maintain its practises and
contribute to market demands in this way. The educational institution will be able to
strengthen its social responsibility and generate a strong brand image as a result of this.
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Legal factors - Government in the United Kingdom regulates a variety of laws to ensure
that business operations are ethical. Management, in collaboration with REGENT GROUP,
can follow laws like the Education Act 2011, the Data Protection Act 2018, and others to
run their businesses successfully and responsibly (Lee, 2020).
3. Top three issues that the client is facing
1. Lack of training and development of staff
This is the main issue which is facing by the Regent Group, due to lack of training and
development programs, the performance of the Regent Group is decreasing. It is
necessary for the consultancy to focus on the marketing abilities, technical competence,
critical thinking & problem solving, analytical reasoning skills, adaptability skills,
communication promotes expertise are all required by the regent group (Sokol, 2020).
2. Lack of motivation
This is also con considered as the second issue which is facing by the Regent Group. It is
analysed that due to lack of motivation, company is facing lots of issues. It is necessary to
focus on the motivation of the students and employees. Motivation is defined as an action
that explains why individuals begin, persist, and operate in specific ways. Student
motivation is essential in the regent group, in which students' awareness will become a
main emphasis in order to fulfil scholastic targets, in addition to energy dedicated toward
realising intellectual potential in terms (Pruthi , 2021).
3. Lack of staff
This is third most effective issue which are facing by the Regent Group. Consultancy need to
focus on their recruitment process. Recruitment is defined as a human strategic planning process
that entails locating and motivating potential employees for employment in a company. Staff
recruitment is necessary at the regent group in order to fill empty jobs of transformation & sales
specialists. The organisation guarantees that its personnel have the necessary skills for current
and future demands through worker recruiting (Salamat, Hadavifar and Rezaei, 2019).
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CONCLUSION
According to this report , it is concluded that business analysts can built to fulfil a corporation's
end-to-end demands. An examination of competitors is carried out using Porter's Five Force
approach, which aids in estimating the attractiveness of the market. STP analysis is used to
define the target customer market that can allow businesses to increase sales by defining a group
of potential customers and placing items in certain categories.
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REFERENCES
Books and Journals:
Bell, G.G. and Rochford, L., 2016. Rediscovering SWOT’s integrative nature: A new
understanding of an old framework. The International Journal of Management
Education, 14(3), pp.310-326.
Craggs J, Murphy, H. and Vaughan, R., 2018. A shipbuilding consultancy is born: The birth,
growth and subsequent takeovers of A&P Appledore (International) Limited, and the
A&P Group, 1971–2017. International Journal of Maritime History, 30(1), pp.106-130.
Fozer, D., Sziraky, F.Z., Racz, L., Nagy, T., Tarjani, A.J., Toth, A.J., Haaz, E., Benko, T. and
Mizsey, P., 2017. Life cycle, PESTLE and multi-criteria decision analysis of CCS
process alternatives. Journal of cleaner production, 147, pp.75-85.
Gheibi, M., Karrabi, M., Mohammadi, A. and Dadvar, A., 2018. Controlling air pollution in a
city: A perspective from SOARPESTLE analysis. Integrated environmental assessment
and management, 14(4), pp.480-488.
Guo, Y., Wu, Y. and Gui, W., 2021. Stability of discrete-time systems under restricted switching
via logic dynamical generator and STP-based mergence of hybrid states. IEEE
Transactions on Automatic Control.
Lee C 2020. It starts with a dream: Carlos Lee talks to Lars Rymell, CEO and founder of
Swedish consultancy Eclipse Optics. Electro Optics, (309), pp.34-35.
Pruthi S, 2021. From a One-Man Consultancy to a Global Business Empire Connecting Back
Home: The Case of Purico Limited. In Indian Entrepreneurship (pp. 99-124). Springer,
Singapore.
Salamat, S., Hadavifar, M. and Rezaei, H., 2019. Preparation of nanochitosan-STP from shrimp
shell and its application in removing of malachite green from aqueous
solutions. Journal of Environmental Chemical Engineering, 7(5), p.103328.
Sokol M. B, 2020. Mindful design of the sole-practitioner consultancy. Consulting Psychology
Journal: Practice and Research. 72(1). p.27.
Zhao, Z.Y., Zuo, J., Wu, P.H., Yan, H. and Zillante, G., 2016. Competitiveness assessment of the
biomass power generation industry in China: A five forces model study. Renewable
Energy, 89, pp.144-153.
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