Ten Network Holdings Limited Business - Case Study Example

Ten Network Holdings Limited Name Professor Institution Course Date Report Table of Contents Report 2 Table of Contents 2 1.0 Introduction 3 2.0 Ten’s global expansion strategies and methods 3 3.0 Leadership & Management Style 4 4.0 Global Opportunity 5 5.0 Humans Resources 5 6.0 Global law and finance 6 7.0 Environmental sustainability 6 8.0 Risk management 7 9.0 Global intelligence 7 10.0 Evolving Entrepreneurship 8 11.0 Global corruption 8 12.0 Exit strategies 9 13.0 Recommendation for Ten Network expansion strategy 9 14.0 Conclusion 10 15.0 References 11 1.0 Introduction For business to grow and be regarded effective among the established businesses, the management ought to identify and exploit opportunities that their competitor are also fighting for. This means positioning well in the market, targeting customers and places yet to be exploited that is yet to be exploited (Mulcaster 2009, P.71). In this way the business will be expanding and soon it can be counted among successful businesses. Ten can be considered to be doing better in the local media industry in Australia and has the potential to move to a global seen. However there are various factors which make it to be considered as a potential company to penetrate into the global arena and also factors that it has to adhere to further perform well. To put this discussion into perspective, this report looks at the factors in detail on how they influence the company’s potential to becoming a global company. 2.0 Ten’s global expansion strategies and methods Ten is has grown by using differentiation, targeting and customer service strategies amongst others. Since its establishment in 1998, the company has acquired 11 companies in different cities in its native country Australia demonstrating management’s determination for success (TNHL 2013). Ten Network Holding limited is not only trying to expand the market place it operates in its key business, but continue to raise a wide range of services provided in its core business. The company maintains incorporating new products such as talk shows. Acquisition of companies that primarily focus on advertisement demonstrate that Ten Network has turn become media sector leader “employing a differentiation strategy and now has the potential to target even the global market” (Mckeown 2012). It is driven towards providing high quality of news, programs and ads to its customers. Ten remains successful by embracing differentiation approach. One of the major successes of Ten Network in the media business can be associated to its three year expansion strategy which began in 2001 and was concentrated on starting the company being in any demographically suitable places that can be served by the operations arrangement of company (TNHL 2013). 3.0 Leadership & Management Style Martindale (2011, p.33) argues that leadership and management determine the performance of the organization. In an organizational context, Ten Network upholds democratic and casual environment, resulting to its attribute of being a flat organization. The company does not swank of a large middle level and upper level management that is concrete; it’s tricky to categorize them in a different group. With the CEO on top of the structure followed by the Executive manager then middle level managers in the same level. Groups that are made consist of members with a particular level of autonomy and equal influence preserved (Martindale 2011, p.35). This type of arrangement regarded as techno-democracy requires a lot of effort to keep. But for sure it can help Ten Network in its global expansion because it allows managers and employees involvement in making decisions. 4.0 Global Opportunity Besides making profit most serious businesses always aim to expand their operations and make entry to new markets (Mulcaster 2009, p.69). Getting it new markets starts with spotting an opportunity and exploiting it before your competitors. Global opportunity gives a company Ten Network a moment to enjoy new experiences in terms economic, social and political new landscape. Global opportunity enables the company to expand its operation, tap into new market and increase profits (Meyer, Neck & Meeks 2002, p.32). With its capable management Ten Network is able to identify global opportunity and exploit it and in turn its employees will get new experience of working in a new environment. Its ability to attract other companies as it has shown only implies that Ten Network can acquire new partners in global expansion. 5.0 Humans Resources Ten Network have an able workface headed by the CEO, Hamish McLennan, driving its objectives. It management consist of professionals in various fields hired used using a thorough and professional means. Therefore its globalization agenda can simply be led by its competent human resource (Conaty & Ram 2011). The expansion of its branches in other countries involve a company management choosing a big city in the country that meets its population outline and developing first a center within that city with a group of professionals (Mckeown 2012). These individuals are now charged with the responsibility of setting the ball rolling by identifying a suitable place in foreign country in particular Wellington, New Zealand. To further enhance the expansion or market entry in Wellington efforts, Ten Network need to appoint a head of the committee charged who will manage oversees the expansion plan. They are to “set a budget plan for this exercise before launching of expansion strategy” (Wit & Meyer 2008). To be successful internationally, Ten Network ought to assess has to stick to its objectives and some of the recommendations that will be provided by this report. Armstrong & Kotler (2002) assert that for a company to expand globally it needs to establish new ideas on product development and the risk management measures. 6.0 Global law and finance Tariff and tax regulations are the various legal facets that will impact Ten Network operations in New Zealand. Karim, Lee & Gan (2007) argue that a case in where the company is accused of tax avoidance in various in New Zealand its contract may be terminated and company closed. Although in the past the company has complied with tax regulations and is even listed in the Australian Security Exchange. Global laws will require that Ten Networks declare its quarterly profits in the country it operates (Reinhart & Rogoff 2009). 7.0 Environmental sustainability Health, safety, environmental pollution ethics are the major environmental issues that Ten Network must respect in its advertisements. Adams (2006) argues that at present, environmental sustainability is a relevant matter that gets a lot of interest from the media and from various governmental bodies. Because Ten Network itself is a media company that means that before reporting environmental conservation or degradation, they must have been involved in conserving it. Ten Networks can participate in environment sustainable exercises at global stage by involving in CSR that focuses on conserving the potential of the environment. Like in Australia, New Zealand to have bodies that is charged with responsibility of ensuring that what the media airs in that country is in line with laws (Dunleavy & Joyce 2011). Advertising Standards Authority and New Zealand Press have the power to listen to complaints entailing advertising violating the spirit of environmental conservation (Myllylahti 2011). 8.0 Risk management Getting into new markets is a duty virtually all determined bossiness has to do at a certain point in time. It is a complex task, and could be an agonizing one, awash with false starts, hurdles, and quick abandonments (Hubbard 2009, p.46). Finding risk management assistance as fast as possible can help minimize challenges later on. One the ways that Ten Network can mitigate risk is to through protecting their intellectual property, so that they can maintain their trademark and copyrights from the competitors (Hubbard 2009, p.46). Before entry the company should seek knowledge of the market. The moral concept of the entry into new market is that Ten Network should exercise conscientiousness and prudence in tackling market entry risks sooner than getting into the problems. This can also be done by employing the right employees; experts. 9.0 Global intelligence Managers need market intelligence before making a decision to make an entry. In so doing the managers can be able to know the opportunities and threats and their causes, therefore if he or she makes decision to make an entry he will deal with them. Global market intelligence on the other hand helps the management know what is needed of the company before expending its operation globally. Therefore for Ten companies to make global market entry, for this case New Zealand, then need to improve effective network concerning that market before taking risk. With qualified management that Ten Network has, they can gather information concerning new market in New Zealand and make a recommendation before making an entry to global market. Government data can help the company obtain competitors intelligence in the global market they are targeting. 10.0 Evolving Entrepreneurship Incorporating both entrepreneurship and strategic management have contributed valuably and uniquely to management theory (Ireland et al., 2003, p.971). Involving entrepreneurship skills in its management has ensured that Ten create value for its customers in Australia and for that reason it has always ranked high among media houses in that country. Going multinational with this mentality it can rest be assured of doing well at global platform. With entrepreneur’s mind, the management of Ten Network has managed to acquire other businesses in big cities in Australia. These include Ads Adelaide, TVQ Brisbane and Outdoor Plus Pty Limited amongst others. This forms the part of enterprises identifying opportunity and exploiting before competitors can do that (Hitt et al., 2002). This concept can help Ten Network grow its business globally. 11.0 Global corruption Corruption is a relentless attribute of human societies, with the original references dates back to the 4th century B.C. (Keenan 2000, p.207). Just as individuals bribe to get favors; the organizations also bribe to get tenders or to evade taxation. In the current setting where everyone would want success that is fast and easy corruption is the order of the day. In the global setting companies that would like enter new market like Ten Network; that is new country normally corrupt the normal procedure by bribing officials to allow them do their business(Keenan 2000, p.209). It’s not allowed but it needs guts to corrupt the system. 12.0 Exit strategies After doing a business for a long time and maximize profit a company can decide to exit global market for another. For a company like Ten Network, there are number of strategies the management can use to exit the market. Mergers and acquisitions is one better strategy the company can employ to exit a global business. They can also choose to merge their foreign subsidiary or sell it to another organization at the time of exit. The key concern here is how much is the branch is valued at for possible buyers. The owners can also ask employee or managers who are willing to buy the company in what is termed buyouts. Lastly owners of Ten Network have the authority to sell it to the public through initial public offers (IPO). 13.0 Recommendation for Ten Network expansion strategy Different markets need different market entry strategies. For that matter it is recommended that; Ten Network consider that in the situation of media industry, revolutionary advantage can be maintained simply through constant focus in creating network infrastructure while providing of greater customer service. These are the major foundation of differentiation. Another important key factor to success for Ten Network is innovation. Innovators have also been successful in entering markets with a significantly better technology. Normally, however, technological advancement gives an organization an edge over its rivals. Hence, it’s recommended that Ten Network keep update about their new media technologies on order to remain effective in its business. They can also make use of social media to attract and update their viewers. With its aim of entering new markets, in particular New Zealand, Ten ought to support its innovations with efficient positioning, aggressive advertising and proper pricing. Before entering the new market Ten Network management must micro-segment their customer base — to be precise, targeting both high-valued and low-valued clients in order to win the heart of most people in the segment. In a nutshell embracing the concept that “everybody matters”. Ten Network can also thrive by attacking high-expansion markets especially now that there is a considerable shift in the media industry where everybody is look at the social media and digital migration. 14.0 Conclusion To conclude, it can be evidently said that from the discussion above that Ten Network Holding Limited operates in a very competitive and fast changing environment. There is a need for this company to maintain pace with the ever changing business environment and serve its clientele with outstanding and unparalleled services at a price lower compared to its competitors. Lastly, the company has to ensure that all its services are provided with regard to customers preferences, setting where they operate, and while considering the welfare of the entire society. 15.0 References Adams, W 2006, "The Future of Sustainability: Re-thinking Environment and Development in the Twenty-first Century," Report of the IUCN Renowned Thinkers Meeting, 29–31 Conaty, B., & Ram, C 2011, The Talent Masters: Why Smart Leaders Put People Before Numbers, Crown Publishing. Dunleavy, T & Joyce, H 2011, New Zealand Film and Television: Institution, Industry and Cultural Change, Intellect Books. Hitt, M. A., Ireland, R., Camp, M., & Sexton, D 2002, Strategic entrepreneurship: Integrating entrepreneurial and strategic management perspectives, In M. A. Hitt, R. Ireland, M. Camp & D. Sexton (Eds.), Strategic Entrepreneurship, Creating a new mindset (pp. 1-13). Oxford, Blackwell. Hubbard, D 2009, The Failure of Risk Management: Why It's Broken and How to Fix It, John Wiley & Sons. p. 46. Ireland, R. D., Hitt, M. A., & Simon, DG 2003, A model of strategic entrepreneurship: The construct and its dimensions, Journal of Management, 29(6), 963-989. Keenan, JP 2000, Blowing the whistle on less serious forms of fraud, A study of executives and manager, Employee Responsibilities and Rights Journal, 12, 199–217. Martindale, N 2011, Leadership Styles: How to handle the different personas, Strategic Communication Management, 15(8), p. 32–35. Mckeown, M 2012, The Strategy Book, FT Prentice Hall. Meyer, G., Neck, H & Meeks, M 2002, The Entrepreneurship-Strategic Management Interface. In M. A. Hitt, R. D. Ireland, S. M. Camp & D. L. Sexton (Eds.), Strategic entrepreneurship: Creating a new mindset (pp. 19-44), Oxford, Blackwell. Myllylahti, M 2011, The New Zealand Media Ownership Report 2011, Centre for Journalism, Media and Democracy. Mulcaster, W 2009, Three Strategic Frameworks, Business Strategy Series, Vol. 10, No. 1, p. 68 – 75. Reinhart, C & Rogoff, K 2009, This time is different: Eight centuries of financial folly, Princeton University Press. ISBN 978-0-691-15264-6. Ten Network Holding Limited 2013, Corporate Governance, http://tencorporate.com.au/corporate-governance.htm Read More