STRATEGY

Business Strategy for a Start-Up

Business Strategy for a Start-Up

Part A- Case Study

1.0 Description

In order to cater to the music industry, Yellow Twist Productions has redefined the laws that bind together the music industry and the striving talent within it.

An online business, it caters to a global forum in the search for the ultimate artist(s) or band, performing the role of intermediary between talented and aspiring artists and record companies in search of musicians.

Yellow Twist Productions contains a variety of different tools via which registered users can pursue their dreams of being famous musicians. With 100% accessibility, due to it being an online business, with a globalized reach, the company has empowered millions of users around the world to grow as big as they dream to be.

1.1 Vision, Mission and Purpose

Our Vision: “To provide hope to the countless, talented musicians out there in order for them to reach their dreams”.

Our mission: 'To provide a platform for the unknown musicians by taking them from the depths of nowhere to being literally everywhere'

Yellow Twist Productions is an online venture aiming to facilitate underappreciated, underground talented artists dreaming of making it big in the music industry. Due to its being based on the internet, the company is easily accessible to the thousands of people around the world wishing to grow big on their musical dreams.

1.2 Issues in Strategic Planning

There are a few issues that the organization faces due to the fact that it is in the initial stage of planning. The organization is a start up and faces the issue of not having the resources, and experience to achieve its target. Thirdly the business does not have good relations with the vendors in the market due to being a new player in the market.

1.3 Planning Techniques

Porter's Five Forces

This technique looks at the complete powers that decide the competitive position in a business condition:

Supplier Power: This is an important factor as it determines the relations with the supplier. The relation is important in order to ensure smooth flow of the services. In our case we are dependent on the servers taken for hosting, but there are many available hence making this a less important factor.

Buyer Power: This is the customer's power, as they are the main reason for whom the business exists. There are not many buyers' for the business so they have a negotiating power.

Competitive Rivalry: The competition is high in the market as the internet gives the potential artists many avenues to sell their products.

Threat of Substitution: It is not easy for an individual or a group to just develop relations with a record company so this makes the company stand in a strong position

Threat of New Entry: The business scale is small so the barriers to entry are less. This makes the probability of new players entering the market more, so this way the threat is high (Karagiannopoulos et.al, 2005, p.66-76).

Stakeholder Analysis

It is important for the business to take all the stakeholders into consideration to ...