Telecommunication Industry Workforce Product: A Business Report

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BUSINESS REPORT
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Executive summary
In this report, an individual will be presented as a workforce product in telecommunication
industry which is considered as the highly competitive and growing industry as well. The report
presents a brief understanding of corporate strategies and diversification in the context of an
individual as workforce product in the telecommunication industry as well. Corporate strategies
such as market development, market penetration and product development as well will be
discussed in this report. Diversification and its drivers which will be helpful to manage an
individual will be described in the report, along with that, three major portfolio matrices such as
BCG, McKinsey and Parenting mix which will be helpful to identify the requirements and
impacts of the skills.
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Table of Contents
Executive summary.....................................................................................................................................2
Introduction.................................................................................................................................................4
Background information..............................................................................................................................5
Corporate strategy options...........................................................................................................................5
Market penetration......................................................................................................................................5
Product development...................................................................................................................................6
Value of the product....................................................................................................................................6
Market development....................................................................................................................................6
Diversification.............................................................................................................................................8
Diversification drivers.................................................................................................................................8
Benefits of vertical integrations and outsourcing.........................................................................................9
Portfolio matrix.........................................................................................................................................10
BCG Matrix...............................................................................................................................................10
GE McKinsey Matrix................................................................................................................................10
The parenting matrix.................................................................................................................................11
Recommendations.....................................................................................................................................12
Conclusion.................................................................................................................................................13
References.................................................................................................................................................14
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Introduction
The report helps to understand the role of corporate strategies and diversification to an individual
which will be presented as a workforce product within the telecom industry as well. The impact
of corporate strategies will be discussed using the strategies such as market development, market
penetration and product development so far. The influencing drivers of diversification will be
explained in the report. The portfolio metrics will be added in this report which are BCG,
McKinsey and Parenting mix.
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Background information
The competition in business world is getting high by each passing and all the industries have
been getting hugely affected from the high competition especially to the telecommunication
industry. In this report, an individual will be presented as a product in workforces in
telecommunication industry. The person is newly entered into the workforce of the industry. The
person has been studying business which will be considered as helpful to understand and analyse
the requirements of the business world. The life experiences, cultural experiences will be able to
make strong impacts on an individual’s mindset.
Corporate strategy options
The corporate strategy is encompasses a company’s corporate activities and actions which main
aim is to reach with firm desired goals and objectives at the time of achieving a competitive
advantages in better manner(Heirati, & O’Cass, 2016). There are various types of corporate
strategies which help company in analyzing and identifying their business position and along
with its product information. Such as market penetration, market development, product
development and diversification. With the help of this, an organisation can easily analyze their
product actual situation and its opportunities and threats which arise in the market.
Market penetration
It is that strategy which is analyzed the percentage of a target market which consumes a products
and services effectively. It can be measure and evaluate organisation sales as a percentage of all
sales for a commodity. With the help of such strategy, an individual enhance its skill through
which they can easily maintain and enhance company market share by offering existing
community and services. A person who is considered as a product and he is doing work for reach
with higher competitive advantages of the industry. This will help in increasing share of current
market with the existing products range. Also it will assist in developing and establishing
strategic capabilities in effective manner. An individual who is working in the
telecommunication sector should be innovative and creative for analyzing whole market in order
to attract new customers and retain existing clients (Bräuer, et. al., 2017). In the
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telecommunication industry, a person must have ability to adopt product in the market place so
they can gain attention of large number of customers effectively.
Product development
Product development is a process of developing and brining a new product to the market. It
includes various aspects of the product which helps to analyse the role of the product to the
targeted market. In telecommunication industry, it will be require that the workforce would be
creative and innovative enough to handle the pressure because it has a lot of competition in it.
Adaptive attitude, along with innovation helps to make the person easy to go with the flow. This
industry has been running continuous changes because the trends are getting changed in past few
recent years. It will be helpful to easily learn new skills and become more productive. As a
product, an individual’s adaptive, innovative and creative attitude will be not only helpful to
survive effectively within the competition but it also helps to become productivity as per the
industry requirements so far (Trigeorgis, & Reuer, 2017).
Value of the product
The value of the product is highly recommendable as per the telecom industry because of its
experiences through its life, culture and expertise zone as well. An individual belongs to strong
religious family which culture helps to bring strong creativity in it. The individual is considered
as expertise in research statistical information and has a good personality. Few experiences at
school helped the individual to learn new skills as possible as it can.
Market development
In this strategy, telecommunication industry offer current products into new market place. A
person have skill and capability to attract new users who are related with other industry and by
offering unique products they are join with such industry. When an individual extend the market
place to new areas in terms of international or other domestic areas so this will enhance its
growth as well as company also. An individual has ability to deal with different critical factors
which create major impact in front of them while they are gain attention of customers. Such
factors includes technology, labours, cost, locations and many more so a person need to focus on
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such factors should be reduced. Such sector mainly focuses on adults and youngsters who are
used their services and facilities. For market development, an individual must have such skill and
capability to deal with new customers and communication should be effective which attract more
users towards telecommunication industry.
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Diversification
Diversification is the strategy which mainly involves in enhancing the range of new products and
markets served by an organisation. An individual role is to analyze the new products and services
which are delivered by telecommunication industry to their potential customers. A person has
ability to diverse the products as per the taste, choice, needs, requirements and demand of its
clients. With this, an individual can easily gain trust of their customers through which industry
users’ base will be increased (Bocken, et. al., 2016). Diversification is that tool and method
which is used by an individual for eliminating risk by allotting investment in various financial
statements and other factors. For increasing diversification of products, a person main aim is to
increase the return by participating in various products introducing events.
Diversification drivers
The following will be the drivers of diversification which make a huge impact on the product
reach as well as the market reach.
Exploiting economies of scope – It will be one of the most important drivers for diversifications;
it encourages an individual to effectively apply organisation’s existing resources to a new
market. If the resources will be used effectively, it helps to diversification of the products which
is must thing in telecommunication.
Internal processes – In order to increase the diversification in the telecom industry, the
companies must need to exploit the internal process so that the customer services, product
quality and business efficiency will be improved.
Corporate management competences – It will be helpful to the industry to apply these
competences, across the portfolio of the businesses as well in terms of increasing the
diversification. An individual has strong management competences which will be helpful to the
individual and for its growth as a workforce product in the industry.
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Benefits of vertical integrations and outsourcing
Vertical integrations include those activities which make the organisation its own suppliers and
customers in some specific conditions as well. More often in those activities more than one
organisation would be involved.
Outsourcing is considered as an agreement where the company hires other companies to
responsible to plan some activities for the company such as transferring employees and assets
internally as well (Chen, et. al., 2015).
The following will be the benefits of the vertical integrations and outsourcing in
telecommunication industry.
 It helps the companies to focus on smooth operations
 Lower the risks of investments
 Encourages the companies to expand the business
 It helps the cost effective planning
 It increase the quality of the service by the companies
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Portfolio matrix
It is that tool and method which can be used in the business for classifying the company’s
products and services (Stark, 2015). Along with this, this model can help in determining and
evaluating the financial investment and divestment in the portfolios of telecommunication
industry. There are various matrices which are used while analyzing the financial status of
business as well as an individual growth within an organisation effectively. Different matrix
includes BCG matrix, GE McKinsey and Parenting matrix. Each matrix is based on three criteria
which involve balance, fit and attractiveness.
BCG Matrix
BCG matrix is that model which helps in evaluating and measuring the person growth and its
performance within an organisation. For measuring its position, there are four categorize which
includes star, dogs, cash cow and question mark.
 Star – It is indicate the high performer of an organisation who have ability to retain all
the customers and have new ideas to attract new users towards telecommunication.
 Cash cow – In this, a person who is performing their work in the comfortable zone and
do not focus on generating new ideas (Mohajan, 2017). It has less ambition. Such
individuals are maintaining track record in good manner. But they are performing good
work what they are doing within the industry.
 Dog – An individual who are dissatisfied with their work and they are not concern about
the company growth and welfare. A person is giving their low performance for gaining
attention of users. Also they are not seeking to gain new opportunities and deal with
threats.
 Question mark–It is always a question market where an individual have not such ability
to seek new opportunities and its track record are unproven. There is no idea that a person
is ambitious or not.
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GE McKinsey Matrix
It is that model which can be used by telecommunication industry for developing business
portfolio planning. An individual are collect all the required resources for making up a company
for attracting new users. A person is mainly on business selecting investment which maintains
and manages its operations. For this, an individual should have skill and knowledge for
identifying the risky area where they do not require investing money.
The parenting matrix
In this matrix, it is an exploration of a fit between the resources of the corporate parenting and
business house strategies as well. It will be helpful to share resources, manage synergy of an
individual and restructurer of skills of an individual as well.
Heartland – The core future strategy of the individual is to effectively improve the
communication skills to improve the communication which is important in telecommunication
industry.
Ballast – In this, an individual understanding about statistical information and time management
so far because it helps to manage an employee in future as well.
Value trap – It seems attractive quality that the individual will be able to grow and become a
leader but it is just a trap because for becoming a leader, it requires a lot experiences in the
industry as well.
Alien – Charming personality of an individual will be considered as alien factor because it can
add some value to an individual. It can add some value to the future of an individual as a
workforce product (Lawson, et. al., 2015).
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Recommendations
The following will be the appropriate recommendations for the individual in telecom industry as
a workforce product.
 Increases competitive attitude
 High motivation level
 Enhance new skills as per industry requirements
 Learn and implement self management (time management)
 Improved communication will be helpful to work within large workforces.
 Develop team work feelings because in telecommunication industry, usually there are
many people working for the companies as well.
 High creativity is expected because in telecom industry, trends will be change very
frequently.
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