Identifying Problems and Solutions for Wycombe Museum: A Business Consulting Report
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Added on 2023/06/07
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This report provides a business consulting analysis for Wycombe Museum, identifying issues related to staff management, declining customer rates, and ineffective competitive strategy. The report includes competitor analysis, customer analysis, and external environment analysis to provide solutions for the identified issues.
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CW1 Research Report
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TABLE OF CONTENTS CW1 Research Report......................................................................................................................1 INTRODUCTION...........................................................................................................................3 MAIN BODY..................................................................................................................................3 Client and problems faced by client............................................................................................3 Presenting areas of importance to the client....................................................................................3 Competitors Analysis...................................................................................................................3 Targeted customers......................................................................................................................4 Influencing factors from the external environment.....................................................................4 Another influencing factors.........................................................................................................5 Top three issues of client.............................................................................................................6 CONCLUSION................................................................................................................................6 REFERENCES................................................................................................................................7
INTRODUCTION Business consulting is referred to expertise services that has been given to the businesses in regards to solving the issue that is being faced by the organization (Silpcharu, 2021).Business consultant analyse the issues of the organization within making a keen observation and on the basis of analysation, key set of solution is being given. The current report is based on identifying the problems of the client. Also, the report will conduct competitors, target market, and external environment analysation of the client. Lastly, the topmost three issues will be highlighted that are facing by the client within providing justification. MAIN BODY Client and problems faced by client The client isWycombe Museumwhich is family friendly museum that enables visitors to explore the history of Wycombe district along with its surrounding areas within using hand-on galleries. The Museum is famous for its chair collection. Furthermore, museum involves- Art gallery and the effective exhibitions. It has been found from various studies that Wycombe Museum already have strong volunteer management policy for the staff at the museum which shows that there is effective staff management at the organization. However, currently the client is facing issues in regards to staff management (Wycombe Museum,2021). Also, earlier number of visitors used to visit the museum and now visiting rate by customers has also been declined. Thus, ineffective staff management and reducing rate of customers are currently biggest issues that are being faced by the Wycombe Museum.Thus, these issues are impacting over-all efficiency of the organization. Presenting areas of importance to the client Competitors Analysis Conducting the competitor analysation of client is highly mandatory as this will lead to make aware in regards to the threat by competitors. Porter’s five forces is being used in order to perform competitor analysation of client. New market entrants-This refers to the threat that is being arise by new entrant. Thus, in this case client is safe as Wycombe Museum is effectively established and have effective goodwill in the marker. Therefore, there is no threat from new entrants (Ven, 2020).
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Power of suppliers-In this case also, client is safe as it has been found from various studies that client has approached numerous suppliers. In case, price is being increased by one supplier then organization approaches other suppliers and the cost has been maintained by the client. Power of customers- This refers to the shifting of customers from one place to another place. In this context there is threat to client as the customers are shifting to the another museum which are competitor firm of client. Power of substitute products-This is determined as the shifting of consumers towards those products and services that can be replaced with the products and services of client. Wycombe museum is effectively assuring its services and there is no substitute available for the services that is being provided by the client. Therefore, in this case there is no threat to the client. Existing rivalry-This refers to the existing rivalry that client has. Thus, there are other museum as well from which the client has threat as effectiveness in competitor services can lead to impact the customer visiting rate in Wycombe museum (Hotti, 2021). Targeted customers Targeted customers refers to those customers that is being approached by the organization in terms of creating interaction with the customers. Thus, the analysation of the targeted customers is highly important as it leads to have the knowledge in regards to the type of the customers approached by organization. Thus, the targeted customers of the client are- Behavioural segmentation- This segmentation refers to that segmentation that is based on the behavioural pattern of the customers. Thus, those customers who likes to visit museum and interested in the historical things comes under this segmentation (Kohne, 2019).Thus, it can be said that if the taste and preference of the customer gets change then, it will lead to impact the interaction of the customers. Demographic segmentation-This segmentation refers to that segmentation in which the customers are targeted on the basis of their age, education and gender. The Wycombe museum targets the customers of age 15-55. Both the gender has been targeted by the organization. Thus, organization is very specific in terms of targeting the customers which is effectively creating effective base of customers for the organization. Influencing factors from the external environment External environment refers to that environment which gets impacted by the external factors and creates direct impact over the organization. Thus, organization gets impacted and
from the external factors which highly impacts the operations of the organization therefore, it is important to assure keen focus over the impacts that is being created from the external factors. Here is the analysation of the external influencing factors that is impacting client. Political factor- This factor refers to the changes in the policies of government. Thus Wycombe museum pays taxes to government. In case the tax rate has been increased then, it provides direct impact over the profitability of the client. Thus, in this manner the political factor might influence the organization. Social factor-This factors are the major factors that makes influence over the operations and services of the client. Therefore, it is important to assure focus over this factors. These factors are aligned with the taste and preference of customers (Zinecker and et.al., 2021).In case, the expectations of the visitors get increased and museum does not become able to full-fill the expectation. Then, it leads to impact the services of the museum. It has been found from various studies that the client is getting impacted due to this factor as the expectations of the customers is increasing. Technological factor- This refers to those influencing factors that comes under the technological changes. Thus, client has not effective presence over the technological platform that is often impacting the interaction among the customers and the Wycombe museum. Thus, therefore this has been considered as one of the biggest issue that is impacting the client operations. Legal factor- This factor refers to those factors that are related to laws of the legal system. Thus, Wycombe museum is effectively completing all legal formalities that are introduced by the government. In this context, there is no negative influence from external environment. Economical factor- These factors are related to the factors that are developed due to economic instability such as- inflation and deflation rate. However, in this regards there is no threat to the client as services of museum does not get impacted due to the economic fluctuations. Environmental factor- These factors have created drastic impact over Wycombe museum as COVID is one of the environment factor that results in reducing the visitors rate of customers. As a result, this has impacted the operations of the museum as the visiting rate by the customers is being decreased (Arefieva and et.al., 2019). Another influencing factors Lack of retention-It has been found from various studies that, Wycombe museum is currently facing issues in regards to managing employees in the organization which is again creating
impact over the services of the organization. If employees feel demotivate then, they do not contribute their enough in providing services in effective manner Lack of management efforts-Lack of retention rate is causing due to the lack of management efforts in organization (Mouton and Bussin, 2019).Thus, these issues are inter-linked. Lack of management efforts towards employees in creating lack of motivation for employees. Top three issues of client On the basis of above analysation the topmost three issues of client are stated below. Ineffective social media marketing- This is the topmost issue of the client as client does not have effective presence over the social media marketing which is impacting the interaction with the customers (Wycombe Museum,2021). Currently. customers are highly active over social media platform and lack of digital strategy is impacting the client services. Ineffectivestaffmanagement-Theanothertopmostissueisrelatedtoineffectivestaff management as there is no enough efforts is being take place in order to encourage and retain staff which leads to create issues for the client as lack of staff management impacts the quality of the services that is provided by client (Irabor and Okolie, 2019). Ineffectivecompetitivestrategy-Thethirsttopmostissueisentitledwithineffective competitivestrategy.Clientdoesnothaveeffectivecompetitivestrategywhichleadsto ineffective analysation of the competitors. Thus as a result, competitors are effectively getting the benefits in regards to attracting the customers. CONCLUSION The above report has concluded that, Wycombe Museum is the client that is facing problem in relation of capturing the customers along with this, organization is also facing management issues. The report has performed the competitor analysation, customer analysation and external environment analysation that has proved that company is facing major issues. Thus, it has been depicted that, in order to perform the business consulting it is highly important to focus over analysing certain factors that are related to the business. Lastly, the report has highlighted the topmost three issues facing by the client. Topmost issues are mandatory to analysed so the major focus can be made over the most important issues.
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REFERENCES Books and journals Arefievaandet.al.,2019.Diagnosticsofexternalenvironmenteffectsuponenterprise competitivepositionsinthecontextofitseconomicsecurity.ВісникКиївського національного університету технологій та дизайну. Серія Економічні науки. Hotti, O., 2021. Intricacies of company acquisition: identifying challenges. Irabor, I.E. and Okolie, U.C., 2019. A review of employees’ job satisfaction and its affect on their retention.Annals of Spiru Haret University. Economic Series.19(2). pp.93-114. Kohne, A., 2019. Target Market. InBusiness Development(pp. 75-84). Springer Vieweg, Wiesbaden. Mouton, H. and Bussin, M., 2019. Effectiveness of employer branding on staff retention and compensationexpectations.SouthAfricanJournalofEconomicandManagement Sciences.22(1). pp.1-8. Silpcharu,T.,2021.SECONDORDERCONFIRMATORYFACTORANALYSISOF CONSULTING SERVICES IN THE INDUSTRIAL BUSINESS SECTOR.Academy of Strategic Management Journal.20(3). pp.1-12. Ven, D.V.D., 2020. Consumer-Brand Relationship Mapping. A new methodology to measure consumer-brand relationships in their competitive context. Zinecker and et.al., 2021. Identifying the impact of external environment on business angel activity.Economic Research-Ekonomska Istraživanja, pp.1-23. Online WycombeMuseum,2021.[Online](Accessedthrough)< https://www.tripadvisor.in/Attraction_Review-g186223-d3989466-Reviews- Wycombe_Museum-High_Wycombe_Buckinghamshire_England.html>.