BM561 Business Consulting Assignment Sample

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Introduction: BM561 Business Consulting

Business consulting refers to furnishing expert advice and direction to the company to help them in enhance their operation and attain their goals. The present study will outline the Fairfield School of Business (FSB) a private university situated at London, it emphasis on furnishing industry-relevant and practical education. The present study will explain the top problems facing by client.

Main Body

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Client and Problem Faced

FSB is the client, that are facing problem in operating its institution in the effective and proficient manner. It is a private institution that provides diverse and multicultural learning experience in the field of Business management, digital marketing, Criminology, Health and Counseling courses (FAIRFIELD SCHOOL OF BUSINESS, 2024). The institution offers learning courses for the undergraduate as well as postgraduate students. Further, the administration of the college also provides excellent training for future corporate leaders. The institution is facing problem related to attracting the students and qualified staff towards the college due to the lack of use of digital marketing options.

The education industry of the UK is wide as well as there is existence of the large number of institution that make difficult for the FBS to attract and recruit the qualified and competent professionals as well as students from different geographical area. In current time, the use of technologies increase which make easier for each organization to understand the market trends, customer behavior as well as developing marketing strategies accordingly. For increasing awareness among the students and qualified professionals it is important for the FBS to make focus on the use of digital marketing technologies.

Competitor Analysis

A competitor analysis is the process of recognizing competitors within the industry as well as their diverse marketing strategies (Anastasiu, Gavriş and Maier, 2020). There are various competitors of the FBS such as Bentley University, Providence college, MIT, the University of California, Tel Aviv University , KU Leuven and so more. The competitor analysis of the FBS is as under:

• Existing Rivalry: The FBS has a wide range of competitors like as Bentley University, and Providence college .It use several digital marketing strategies within its institution to attract the wide range of students from different geographical areas. The high level of competition is a major challenge for the FBS to grab the attention of the wide range of students.
• Threat from suppliers: The bargaining power of the supplier is less as the college has wide range of suppliers.
• Threat from customers: In present time, the taste and preference of the students changes rapidly as a result it create threat for college. Also, there is high bargaining power of the customers or students as various substitutes available in the industry (Goyal, 2020). Student can easily attracts towards a institution that use various digital marketing strategies.
• Threat of Substitution: There is high threat of substitution as wide range of institution offering same services and courses to the students. The institution that use digital platform affectively leads to distract the customers of the FBS.
• Threat from the new entrants: There is lack of threat from the new entrants in the industry due to high cost of establishing business and difficulty to cope up with the well-established institution. As customer prioritized reputate institution than the new one.

Thus, the competitive institution uses cost-effective digital marketing strategies such as social media, influence marketing as well as updated digital marketing strategies to grab customer. On the other hand, lack of use of emerging marketing strategies make difficult to grab attention of more customers and qualified teacher towards FBS.

BM561 Business Consulting Assignment Sample

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STP analysis

STP analysis refers to a marketing model that aids the organization in defining their target market and how to market product and services to them.

• Segmentation: Segmentation refers to a process of separating the audience into the smaller groups according to their particular attributes (Czinkota et al, 2021). FSB focused on demographic and behavior aspects of segmentation. The organization emphasis on the age group of 14 to 30 years of people.
• Targeting: FBS institution leads to target students that are interested in pursuing different kinds of the courses. In addition, it target students who are looking forward to gain effective education in the field of business management, digital marketing, health and law and various other courses.
• Positioning: FBS has a strong and competitive position within the UK education industry. It`s facilities of exploring culture and art as well as offering of wide range of different courses makes it effectual college within the UK. The organization effectively position itself in the industry by using digital marketing technologies such as social media to communicate about its best services to students and professionals , it aids in gain competitive advantage in industry (Alamsyah et al, 2021).

PESTLE Analysis

Pestle evaluation aids the business in analyzing the external factors that remain outside the business but impacts the operation of the organization. Following are the PESTLE factors that influence FSB are as under:

• Political factor: The factors include rules, regulation and policies of the government. The government regulation significantly impacts the operations of the education institution. It is important for the FSB to adhere the policies and rules and regulation of the government while operating its institution. Non-adherence of this lead to impact the reputation and profitability of organization.
• Economical-Factor: It consist factor such as rate of inflation, interest economic condition and so more. For instance, the increasing inflation leads to decline the purchasing power of the customer correspondingly it leads to decline the enrollment within the organization (Wu, Chang and Hu, 2021). In addition increasing inflation cause in increasing cost for the labor which is threat for FBS to recruit more competent professors and teachers.
• Social Factor: It includes customer taste and preference of the customers. In current time, the demand of the students changes rapidly that leads to impact the education institution. For instance, due to the digitalization, the students demand online courses, online classes and tutorials as a result attracts towards the college that offers online education facility. Further, students demand popular and qualified teachers.
• Technological Factor: In the modern era, the introduction of different technology leads to impact the working of the education institution. The increasing use of digital marketing technology leads to grow the competition in the academic sector. For instance the organization that uses the updated digital technologies able to market its product efficiently as a result effectively able to attract the wide range of customers (Alharthi, 2020). The FBS is lack of aware about the use of digital marketing technologies correspondingly leg behind in grab attention of wide range of students. This leads to make unable FBS to communicate about its different courses, services to the target market.
• Environmental Factor: FBS effectively run its institution while keeping in mind sustainable practices to protect environment from negative impacts. Within the institution, it focuses on use eco-friendly practices such as use of LED lightening, lack of wastage of paper. It leads to positively impact the organization by assisting in attracting eco-conscious students, shareholders and professionals.
• Legal Factors: The legal factors include different laws related to the education sector. Government make laws related to curriculum standards, recruiting criteria for teachers, safety and security laws for students as well as law relating to charging fees for the students. FBS has to proficiently follows the laws, the non-compliance of this negatively impact the brand image of the institution that directly impact enrollment number of students.

Top Three Issues Face by Clients

With the help of above evaluation, main three issues face by the FBS are as under:

• The one of the main issue faced by FBS is high competition within the industry. Various education institutions within UK also provide homogeneous courses to the students with similar services such as online courses, tutorials, distance learning and so more. This leads to make difficult for the FBS to attract large amount of the students as well as educational professionals.
• Lack of use of appropriate digital marketing tools: It is evaluated that FBS is unable to use emerging and updated digital technologies to communicate and market its educational services. Lack of proficient marketing team restricts FBS to position itself in the competitive industry.
• The third issue face by the FBS is ineffectiveness in meeting the students demand. FBS is unable to provide the effective services of distance learning as a result it can` t able to grab more students towards it institution as compare to its competitors.

Conclusion

To sum up all it is articulated that practice of business consulting plays important role in solving the issues of client. The present study was based on FBS a private education institution of UK. In the report porter`s five forces, STP analysis and Pestle analysis done, to evaluated the problem faced by the client. It is articulated that FBS faced problem related to high competition, inefficient use of digital marketing tools as well as ineffectiveness in meeting the demands of students and professionals.

References

Books and Journals

• Alamsyah, D.P., Ratnapuri, C.I., Aryanto, R. and Othman, N.A., 2021. Digital marketing: Implementation of digital advertising preference to support brand awareness. Academy of Strategic Management Journal, 20(2), pp.1-10.
• Alharthi, M., 2020. Students' Attitudes toward the Use of Technology in Online Courses. International Journal of Technology in Education, 3(1), pp.14-23.
• Anastasiu, L., Gavriş, O. and Maier, D., 2020. Is human capital ready for change? A strategic approach adapting Porter’s five forces to human resources. Sustainability, 12(6), p.2300.
• Czinkota, M.R., Kotabe, M., Vrontis, D., Shams, S.R., Czinkota, M.R., Kotabe, M., Vrontis, D. and Shams, S.R., 2021. Market segmentation, positioning, and branding. Marketing Management: Past, Present and Future, pp.283-340.
• Goyal, A., 2020. A critical analysis of Porter’s 5 forces model of competitive advantage. Goyal, A.(2021). A Critical Analysis of Porter’s, 5.
• Wu, S.J., Chang, D.F. and Hu, H., 2021. Detecting the issue of higher education over-expanded under declining enrollment times. Higher Education Policy, 34(4), pp.747-770.

Online

• FAIRFIELD SCHOOL OF BUSINESS. 2024.Online. Available through:< https://fsb.ac.uk/about-us/ >