BM561 Business Consulting: LSST's Digitalization & Market Challenges

This report provides a business consulting analysis of the London School of Science and Technology (LSST), focusing on its challenges in entering a new market through digitalized technology. It identifies the client's problems, including a lack of technical expertise, extensive market demands, and competition. The report utilizes the STP framework to analyze target audiences and positioning strategies, highlighting issues with ineffective promotional strategies. A PESTLE analysis assesses external factors impacting LSST, such as political stability, economic forces, social trends, technological advancements, legal considerations, and environmental regulations. The report concludes by outlining three key issues faced by LSST: ineffective promotional strategies, limited technological knowledge, and inadequate communication channels. The report suggests the need for a strong digital strategy, improved communication, and a technologically skilled team to enhance LSST's market position. Desklib provides access to similar solved assignments and past papers for students.

BM561 Business
Consulting

Contents
INTRODUCTION...........................................................................................................................1
TASK 1 ...........................................................................................................................................1
Identification of client and problems facing by them..................................................................1
TASK 2............................................................................................................................................2
Target audience ...........................................................................................................................2
Competitors..................................................................................................................................3
PESTLE Analysis........................................................................................................................3
TASK 3............................................................................................................................................4
Issues which are faced by London School of Science and Technology .....................................4
CONCLUSION ...............................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
Business consulting can be understood as a professional body which assists
establishments in optimising as well as modifying a business model or process (Kaslow and
Friedland, 2021). It essentially offers specialised or expert services to business organisations in
order to help them for improving their performances as well as effectiveness. These business
consulting firm is considered as beneficial as it provides them expertise, customization and
objectivity in relation to client projects. These are helpful in solving the problems in regards with
management as well as unions in a strategic manner. In order to better understand the differential
aspects of business consulting, London School of Science and Technology (LSST) is taken into
consideration. This university was established in 2003 and has been situated at United Kingdom.
This project report summarises client and their problems which they are facing. This
project report also break down the problems on the basis of varied theoretical framework. This
also enumerates top three issues which are faced by the given client.
TASK 1
Identification of client and problems facing by them
Identified client in this project report is London School of Science and Technology which
is facing issues of entering a new market with the help of digitalised technology. In the era of
fast-pacing digitalisation practices which are adopted by organisations, it is needful for managers
of LSST to formulate the strategies in an effective manner. Main aim of the client for adopting
the digitalised practices is to provide excellent online services regarding their learnings in an
effective manner. Main purpose of their shifting to online classes is to provide convenient
platforms to teachers and students. This practice can also help them to secure a competitive
advantage in an effective manner. However, they are not that technical savvy which poses as a
problem for them to develop their online platforms and indulging students in them. Extensive
and dynamic market demands as well as competition also plays a significant role in their in
increasing their problems. It is imperative for managers of LSST to evaluate the important issues
that they can face in coming future in a strategic manner in order to frame strategies accordingly.
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TASK 2
Target audience
It is imperative for organisational managers to ascertain their target audience on early
basis which aid them in formulating their marketing strategies to engage them in an effective
manner (Nissen, Nissen and Rauscher, 2019). It is significant for managers of LSST to evaluate
their target audience in order to position their college and make it viable. In order to have an
understanding about the target audience and how to position the college, STP analysis is taken
into consideration.
STP analysis is a strategic framework which is used by business organisations for
evaluating their target audience as well as positioning their products in an effective manner
(Sharonin, 2021). Varied elements of STP analysis in relevance with LSST are mentioned below:
Segmentation- At this stage, marketing professionals evaluate and ascertain varied
customer segments in order to target them in a strategic manner (Brent and Blackman 2022).
This practice can be performed on the basis of geographic, demographic, behavioural and
psycological segmentation practices. Segmented audience of LSST are the day scholars who are
willing to complete their degrees. They essentially belong to differential parts of world and are
above the age of 18.
Targeting- At this phase, main aim of organisations is to determine their targeted
segments which are developed at the stage of segmentation (Nissen , 2018). Managers of LSST
have determined to target pass out students who have completed their higher secondary
education. They will be provided online lectures through their virtual platforms in an effective
manner.
Positioning- This stage is concerned with presenting the specified services and products
in a differential manner which should be unique in respect to competitors (Asadi, 2022). It is
imperative for managers of LSST to formulate and execute those strategies which are considered
as helpful for marketing their new services. They are facing issues with positioning their college
at large level which is needed to be done in a strategic manner.
Competitors
Major competition which is faced by London School of Science and Technology from
Oxford University and Tyndale University in a significant manner. Apart from these, LSST can
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face competition with new entrants as they have developed new strategies and using new as well
as advanced technology in providing effective education to their students which is posing as a
new problem for them.
PESTLE Analysis
PESTLE analysis can be described as strategic tool which is required by business
organisations in ascertaining and analysing varied external forces that can impact their operations
in a significant manner (Nadler and Slywotzky, 2017). Varied forces of PESTLE analysis in
accordance with London School of Science and Technology are mentioned below:
Political factors are concerned with political stability, administrative system and rules &
regulations framed by government in relation to a specified country. In UK, political landscape is
stable which help officials to formulate effective strategies for students in a strategic manner.
This is an opportunities for LSST as they can get political support through which they can solve
their issues in a strategic manner.
Economical forces majorly comprises of currency fluctuations, increase in GDP rates,
unemployment and inflation of a particular country. In UK, studies are hampered due to global
pandemic. However, it opens up the ways for doing experiments regarding virtual teaching
methods. LSST is also adopting digitalised practices in their teaching methods through virtual
processes.
Social factors particularly comprises of lifestyle, attitudes and perception of a specified
population in regards with particular country. In UK, people are serious about their studies and
are likely to use digital methods for learning in an effective manner. This can be an opportunity
for LSST as they are also planing to adopt virtual learning methods for their students.
Technological forces essentially comprises of introducing new technology which can aid
in enhancing the business operations of a specified country (Nissen and Dittler, 2019). UK is one
of the leading country which supports technological innovations in a strategic manner. LSST can
use this as an opportunity as they are bringing digitalised teaching methods.
Legal factors encompasses of legislations framed by government of a specified nation. In
context to UK, government has formulated legislations regarding protecting the interests of
students for saving them from racial discrimination and ragging. Management of LSST follows
all the framed legislations which help them to create their viable position.
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Environmental forces are concerned with those rules and regulations which are
formulated for conserving the environment (Jiménez, García Muñoz Aparicio and Ancona
Alcocer, 2019). UK government has made strict laws for those organisations who gets failed in
complying the formulated legislations. Managers of LSST has made compliance with all the
framed laws which help to avoid any controversies and expensive litigation procedures.
TASK 3
Issues which are faced by London School of Science and Technology
Managers of LSST are facing varied issues which are ascertained on the basis STP
analysis and evaluating varied external forces. Issues which are faced by LSST in regards with
adoption of digitalised methods for learning are as follows:
Ineffective promotional strategy- They are facing top most issue of ineffective
promotional strategy which is curbing them to reach a massive number of students on a timely
basis. They have not developed advertising campaigns either virtually or manually which can
hamper their expanding plans in a long run. Due to this issue, their competitors are moving
forward and gaining competitive advantage.
Issues related to technological advancement- Less knowledge in relation to technology
is another issue which is faced by managers of LSST. It is imperative for them to hire a team
which would help them in adopting digitalisation practices in their teaching methods in a
strategic methods. It is needful for them to adopt technological-driven methods which help them
in driving their operations in an effective manner.
Inadequate communication channels- Communication is considered as necessary for
adoption of any new procedure in regards with business operations. Managers of LSST are
facing issues in maintaining a proper communication channel which leads in deteriorating their
market position. Without proper communication channels, they are unable to make appropriate
relations with their employees as well as students in a strategic manner.
CONCLUSION
From the above mentioned information, it has been concluded that business consulting
provides professional services to the organisations in order to solve their varied issues regarding
their operational activities. STP model refers to a strategic framework which is used by
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marketing professionals in determining their target audience and positioning their products or
services in a viable position. PESTLE analysis is considered as helpful as it aid in analysing
varied intrinsic as well as extrinsic forces which can influence their business operations in a
significant manner. It is imperative for organisations to determine their target audience as well as
assess attractiveness of market while introducing new product or services.
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REFERENCES
Books and Journals:
Kaslow, F. W. and Friedland, L., 2021. Evaluation and Assessment in Family Business
Consulting. In Consultation to Family Business Enterprises (pp. 39-55). Springer, Cham.
Nissen, V., Nissen, V. and Rauscher, 2019. Advances in consulting research. Springer
International Publishing.
Sharonin, P. N., 2021. Business consulting in media.
Asadi, A., 2022. The role of the mindsets of small business owners in using business consulting
services. Journal of the International Council for Small Business, pp.1-12.
Nadler, D. A. and Slywotzky, A. J., 2017. Strategy and organization consulting. In Management
Consulting Today and Tomorrow (pp. 118-140). Routledge.
Jiménez, E. F., García Muñoz Aparicio, C. and Ancona Alcocer, M.D.C., 2019. The intellectual
capital in a business consulting. Revista San Gregorio, (35), pp.187-197.
Nissen, V. and Dittler, J., 2019. Measuring and managing the reputation of business
consultancies. In Advances in Consulting Research (pp. 103-131). Springer, Cham.
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