Environmental Scan for the Television Media House
The presence of a strategic plan for an organization requires the company to carry out an environment scan to ensure the strategic plan is successful. Environmental scan involves the evaluation of the factors influencing the operations and the achievement of the set goals within an organization. These factors may influence the organization’s performance presently and in future. This implies that environmental scanning ensures the organization sets the appropriate mission and vision statement. The environmental scan involves both internal and external evaluations. The internal environmental scan is meant to consider the strengths of the company from within (May, 2010). The internal scan ensures the company has the right personnel, hardware, infrastructure as well as the abilities to ensure its survival in a competitive field.
The media industry is an intensely competitive field of business, because media houses are progressing at a high rate. It is therefore necessary for the television media house to be competitive enough to win a big share of the market. Due to the increasing number of the television media houses, it is imperative for the media house to keep the pace of airing meaningful, interesting and provide up–to-date programs. The environmental scan in the external field indicates that the high numbers of viewers are young people between the age of 20 and 40. It is therefore paramount for the media house to come up with programs and shows which are appealing to the young generation. This should be in line with efforts from the other similar media houses targeting the same viewers. Another threat to the media house is the pouching of reporters and news presenters. The company should retain its employees through the provision of comfortable working environment. The television media house should provide its employees with reasonable packages to retain them.
There should also be an infrastructure through which long-serving and qualified employees are promoted (Allison & Kaye, 2005). Retention of employees would ensure the media house keeps track of its goals and the strategies to achieve them. The cost of the advertisement services offered to its customers is yet another threat facing the company. Other emerging media houses offer cheaper advertisement services than this media house. It is necessary for the company to charge reasonable prices while at the same time offering quality services. This would ensure the customers are retained considering that the station can broadcast across the nation. As well as that, despite the competition and threat from other television media houses, the company stands firm in the delivery of its services.
Strengths of the Company
Clearly, the company has strategies and plans enabling it to navigate through the shakeups from the competition from other television stations. The internal strengths of the company will enable it to maintain the high customer command in the market. The company has a strategy of retaining its employees, which will ensure that it will have the strength of human resource. This is the main resource in any company as the employees determine the performance and achievement of goals. The employees of the company are well-trained and experienced, and this will enable them deliver comprehensive and genuine news to the viewers. The commitment of the employees as well as their hard work in the search and compilation of comprehensive news will give the company a competitive advantage over the other media houses. The success the company has made to reach the level of the national broadcaster will ensure it has a competitive advantage in the market. Many of its customers will prefer the media house to others, especially for advertisements, which is the major income generator for the media house.
The company also has a strong mission and vision statement. The mission statement of the company directs the daily operations of the company towards the achievement of its goals in future. The mission statement of the company is to conduct the advanced research in gathering information, present news in a comprehensive way, provide a comfortable working environment for employees as well as satisfy customer needs. This is a strong mission statement, which will ensure that the company has a competitive advantage over the rest of the media houses. Its mission is to ensure that the customers are satisfied. This means the company’s goal is to provide services, which the customers or the viewers require. The quality of the services which the company provides will ensure the customers are retained as they seek for more (Olsen, 2011). The competitive and qualified management of the company will ensure that the company sails through the competitive field by means of successful strategic plans. The management ensures the motivation of employees to ensure quality delivery of services.
Significant Competitor for the Company
The company will face stiff competition from the other television stations. The company is located at Alabama, and it is therefore competing with giants like ABC television station. The major strategy of the company is to deliver what the viewers or the customers require. This ensures customer satisfaction and, therefore, winning the market. The quality of services offered will ensure customers’ satisfaction. This will be through delivering news mainly affecting the people, which are relevant to them. To dominate in the market with competition from such significant competitors requires a committed team of employees. The employees are well-trained, hardworking, and they know the mission and vision of the company clearly. They therefore work towards the achievement of the company’s mission and vision.
Modification of the Company’s Strategic Plan in Case Economic Decline
Every company should have a plan B in place in case their initial strategic plan does not work. The company values its employees, and therefore, it is not in plan to lay off productive employees because of the economic recession. In case of an economic decline in America, where the company is based, the company will invest in looking for more customers, thereby increasing advertisements and thus getting more income. The company can also slow down some of its expansion operations to reduce the cost of operations. This will not hamper the delivery of services with the current infrastructure and its competitive advantage in the market. As soon as the economic decline is over, the company will resume its expansion operations, which will ensure it becomes the station of choice.
Impact of Global Competition on the Company’s Strategic Plan
The media industry is continuously changing, and media houses are forced to put up with the pace. The role of the company is to deliver news from all over the world. This means that the company will be affected by competition from the various international broadcasters. Competition from such stations may force the company to change some of its strategic plans to ensure it remains competitive in the market. Although the strategy of the company is competitive, the company can always adjust to ensure it retains its competitive advantages. The company may choose to open branches in various countries to ensure that it delivers timely news to citizens of those countries. The company may also opt to deliver its news and other services in different languages in its various branches. This would ensure that the customers understand the news. Through changing the strategy, the company will withstand global competition and maintain its market share.