Telecast Informative Programs to the Listeners of the UK - Essay Example

? Entrepreneurship portfolio Contents The Pitch 3 Mission ment 3 Vision ment 3 Aims and Objectives 3 SWOT Analysis 4 The Team 4 The Result 5 The Evaluation 6 Reference 8 Bibliography 8 The Pitch The business plan decided is about a radio broadcasting company which plans to operate in the United Kingdom and hence promote entertainment services to the people who are associated with music, news and sports but mainly concentrating on music of various genres such as rock, jazz, hip hop, and classical songs among others. Therefore this project is appropriate to the skill obtained as the institute provides a vital training in music and most importantly it encourages entrepreneurship. The business plan is also a step towards the entrepreneurship as it is a self employed business where the owners of the business take all the major decision. Therefore the nature of the thing that the company is planning to sell is services based on the entertainment world and provide its listeners with variety of music to suit their moods. Mission Statement The mission statement of the radio broadcasting company is to provide high quality as well as telecast informative programs to the listeners of UK. It aims to provide its listeners with quality music to start their day with fresh music and with their most favourite songs. Vision Statement ‘The vision statement of the company is to create a world class radio station and provide with all forms of songs to suit the moods of the listeners’. Therefore the vision statement is a picture of what the organisation wants and to be in the future. In broad vision statement aims to achieve the goal set for the future (Hitt, Ireland & Hoskisson, 2010, p. 18). Aims and Objectives The aims and objectives of launching the radio station in UK are to provide its listeners with all forms of music from the fresh ones to the old music. The objective is to keep the listeners happy and satisfied with a variety of song and at the same time refresh their moods and to increase awareness of public regarding different factors in the community. SWOT Analysis A SWOT is conducted to analyse the strength so that the organisation are able to overcome the weakness through its strength, and use the opportunity to overcome the threat faced by the firm (Fine, 2009). Strength: A major strength lies on the fact that the business is new and it has better opportunity to attract the new customers and the listeners with a new and wide variety of music to suit the moods and keep them relax through the music. Weakness: Since the company is new it might face many weaknesses such as capital requirements, and also the taste of the music might vary from the listeners to listeners. The company need to conduct a proper survey to know the taste of music. Opportunity: Almost 90% of people in the UK listen to radio on an average 21.8 hours per week thus a huge opportunity lies for the company are that it being a new organisation it will have fresh new and innovative ideas to create an awareness of public regarding different factors in the community. Threat: Threat comes from other radio stations which have already marked its presence in the market of UK and thus a huge competition lies from these competitors. The Team The various teams play an important role in the development of the various plans and to be successful they need to work together. For this business plan, the team has been divided into various sections such as the creativity team, the RJs, the production team, the media team and the finance team. The finance team along with the production will take care of all the financial aspect of the company. The creativity team looks after the creativity of the radio station and writes the concept of the RJs and finally the RJ who talks over the radio needs to be active and cheerful with soothing voice so that the listeners enjoys the songs and the other activities undertaken by the company. The owners would pay to the employees and they would be the stakeholders of the company. The Result The broadcasting industry consists of radio station, television, internet and online music among others. The UK is considered as one of the biggest digital radio networks internationally. In the UK, radio broadcasting provides entertainment, education, and information to the public. The radio broadcasting industry provides extensive ranges of music and soundtracks to the listeners. Based on the above fcat, the idea was generated to launch a radio broadcast where it would wide ranges of music arrangements, commercial advertisements and direct chat option with several popular music artists. The major music formats which will be offered in this radio broadcasting business are Jazz, Rock, Dance, Folk, Classic, Fusion, Hip Hop and New Age. In order to ensure that the programmes of new radio business entertain the listeners properly, there will be company website where people can provide feedback about any program. The radio broadcasting business will provide listeners the best and the latest collections of music with better sound quality. Thus it can be said the service has been received well by the market and the listeners around UK. The company has registered its IP i.e. for trademark so that it can be recognised easily. It has been working well among all the geographic areas as radio are listened by almost 90% of the people. The company has online business model to promote its business and has created value by differentiating its service from the rest of the radio broadcasting stations. The Evaluation The project was undertaken as one of the means to give the listeners a good taste of music of various kinds of music and along with the music the radio broadcasting company. Apart from music, the new radio broadcasting business will also transmit news and sport programmes. These programmes will include any kind of breaking news, live comment on major sporting events taking place in the UK and other important programs or updates which need to be informed to the audience. The news service will be available regularly, three times in a day. The radio service has tried to provide the service and has been able to achieve the objectives and goals to a very great extent. The company hired all the necessary and required skilled people ranging from the production department to the marketing and creative department. The company had hired all the people with a prior experience in the respective field assigned to them. Thus the company was able to hire the right kind of people. To achieve success it is necessary to approach the right kind of people to sell its services. Thus the pitch made for generating awareness about the new radio broadcasting station was appropriate as the number of listeners increased with its launch and tend to increase more and more. The company has taken a loan from the bank to start up the business and it would need 14 years to repay the loan thus it can be inferred that the company would not have sufficient money or resources to spend on promotional activities such as interviewing personally the listeners and to invent a new business model. It would eventually work with the existing business model and then adopt a new business model. In launching the radio channel the business had faced many challenges such as lack of adequate capital, insufficient promotional activities and others. But the advantage lies with its service and the added feature that the radio station is offering to its listeners. Reference Fine, L. G., 2009. The SWOT Analysis: Using Your Strength to Overcome Weaknesses, Using Opportunities to Overcome Threats. CreateSpace. Hitt, M. A. Ireland, D. & Hoskisson, R. E., 2010. Strategic Management: Competitiveness and Globalization, Concepts. Cengage Learning. Bibliography Barrow, C, Burke, G, Molian, D and Brown, R., 2005. Enterprise Development, The Challenges of Starting, Growing and Selling Businesses. London: Thomson Learning. Music Management Forum, 2001. The MMF Guide to Professional Music Management. Sanctuary Press. Passman, D., 2001. All You Need To Know About The Music. Business Penguin. Read More