Using Technology for Sustainable Strategic Advantage

Using Technology for Sustainable Strategic Advantage Author: Stephen Walsh For the purpose of this paper a review of current technology has been carried out in response to the question of technology providing little or no sustainable strategic advantage. In the last twenty years or so the digital revolution has transformed the way business carries out commerce in the developing world, whether on the ground or online, commerce has increased dramatically and technology has unquestionably facilitated that growth. Over ten years ago in 2003 author Nicholas Carr published a widely discussed article in the Harvard Business Review titled (Carr, 2003) IT doesnt matter. In the article Nicholas argued that the opportunities for gaining IT based advantages were receding. Best practices were built into software or otherwise replicated and as for IT encouraged industry transformations most of the ones that were going to happen had already happened or were in the process of happening. Carr argued that IT is like other infrastructure technologies that lost their competiti ve potential once they became accessible and affordable to all. Has technology enabled business decision makers to gain strategic advantage over competitors in light of the developments in technology of the last number of years. The following paragraphs will look at recent trends in technology and whether these trends can provide a sustainable strategic advantage going forward to decision makers. The attainment of strategic sustainable advantage from technology is immensely important to small and medium sized business and large organisations, in 2017 there is a myriad of ways in utilising technology and in particular information systems technology to improve business operations. Organisations can employ information systems to fundamentally shift the cost of doing business (Booth, 2011) or reduce the costs of business processes and or lower the costs of customers or suppliers, i.e. using online business to consumer business to business models and e-procurement systems to reduce operating costs. An example of a business to business model is an Irish start up by the name of Bullet HQ which is aiming to disrupt the accountancy marketplace with its online accounting and payroll software targeted at small and medium enterprises in Ireland. Eighty percent of companies in Ireland are SMEs with four staff or less and this software is tailored to business owners for the purpose of doi ng their books, payroll and all tax returns thus enabling them the time to run other business practices related to their operation and replaces the expense of hiring an accountant. This platform used by Bullet HQ is employing cloud technology which has become a great shift in the way business organisations manage their IT operations. The arrival of Software as a Service (SaaS) applications allow business organisations to run a virtual business in which business functions are outsourced to cloud services. (SaaS) applications have emerged as one of the advanced technologies utilising cloud computing and has great potential for the strategic management of IT technology in dynamic business environments. As the global economy has crept back from recession it has become paramount to organisations to reduce risks and assure safe returns for their investments. Most companies are now trying to find ways of reducing their operation and productions costs and reducing IT costs are part of it. Companies have started to find solutions to operate their information systems on a pay-as-you-go basis instead of investing huge amounts of funding in IT infrastructure and this has b ecome possible with the recent developments in cloud computing. With software-as-a-service models companies only need to pay for what is used and can adjust service agreements as IT requirements increase or fall over time. (Gartner, 2012) Has stated worldwide software-as-a-service revenue was forecast to reach 14.5 billion dollars in 2012. (SaaS) distribution will experience healthy growth through 2017, when worldwide revenue is projected to reach 40 billion dollars. Traditionally implementing business information systems is a major undertaking for business in that it can cost a significant amount of money for organisations small or large. Organisations need to hire IT consultants and IT professionals to deploy solutions with their current systems and data needs. The requirements for the timeframe, budget and human resource for the implementation of these business solutions pose a significant risk for organisations. The on demand model of software-as-a-service removes the typical re quirements related to traditional software delivery models. (SaaS) applications can be accessed anytime from any personal computer or device with an internet connection. Strategic benefits such as high adoption rates, lower initial costs, updates and provider managed upgrades, and seamless integration with existing Enterprise Resource Planning (ERP) systems makes software-as-a-service as a major differentiator in the IT services management market. A study by International Business Machines Corporation (IBM, 2014) highlighted that software-as-a-service helps enterprises with the highest level of (SaaS) adoption to have strategic advantages by providing differentiation in enterprise efficiency, deeper collaboration, better decision making and market agility. The Internet of things (IoT) sensors plus actuators connected by networks to computing systems is not a futuristic trend but it is here now and has received enormous attention over the last five years. A report by Mckinsey states that internet of things has a potential economic impact of 3.9 trillion dollars to 11.1 trillion dollars a year by 2025. (IoT) is crafting a new world, a calculable world where people and business can manage assets in a better informed way and make more timely and informed decisions about what they want or need to do. This new connected world will bring massive changes to consumers and society as a whole. For the first time ever the mobile phone will no longer be the most common device used to connect people to the internet it will be cars, home appliances, industries, cities and wearables. It is expected by 2020 that there will be 28 billion connected devices worldwide with more than half being internet of things devices. As all these things are connected n ew opportunities will arise for industries, cities and organisations. Current examples of internet of things technology include connected smart buildings whereby the Ericsson group implemented solutions to assist facility managers in space utilization, space management, the planning of maintenance based on usage, temperature control, air quality and ventilation optimization thus in turn providing optimised funding channels. A large range of new technologies is emerging that enable new value and capabilities for connecting the next new (IoT) device to a new generation of analytics and applications. From a business strategic perspective internet of things represents an opportunity to collect real time information about every physical operation of an organisation. Internet of things sensors can transport information real time and transform raw (IoT) data into business and operational insights using effective data analytics. Assets equipped with sensors give an information system the ca pability to communicate, capture and process data and in turn that will create massive opportunities in distribution, innovation and production efficiency. (Jacques Bughin, n.d.) states that business to business applications will account for almost seventy percent of the value that is estimated will flow from (IoT) in the next ten years. Nearly 5 trillion dollars would be generated almost exclusively in business to business settings i.e. factories, agriculture, healthcare environments, mining, gas and oil, construction and office settings. Here in Ireland there has been many developments in the internet of things sphere, (Kennedy, n.d.) Crossmolina in Co.Mayo will be the first town in Ireland to implement a smart lighting system, the US technology firm Silver Spring whose tech manages over 23 million devices in cities around the world has deployed an internet of things platform for Mayo County Council for smart street illumination and also a residential energy efficient project for the council with the project been part funded by the Sustainable Energy Authority Of Ireland (SEAI). Peter Mcloughlin, executive engineer of Mayo County Council has stated that the technology enhances the councils objective off reducing energy usage, reducing cost and reducing C02 emissions and also increases the capacity of the community to relate with and understand their energy use. Another development is the rollout out nationwide of a Sigfox platform across Ireland by the the Irish startup VT Networks. Sigfox is an internet of things network that uses low power, wide area communications to connect up devices from smart meters, smoke alarms, interactive billboards and robots. VT is targeting Irish business with services that include home solutions, smart metering, smoke alarms, security sensors and security sensors on gates for farmers, machine monitoring devices and recovery and tracking of stolen farm items. The internet of things revolution will have a range of aids for dealing with health related issues, especially prolonged health issues that use up resources in Irish Hospitals. A project currently being tested using internet of things technology is a project by North East Doctor on Call to enable paramedics to see patients and enable remote diagnosis by GPs and consultants along with the use of internet of things sensors in the home. On the research front academic and industrial partnerships led by research groups such as Tyndall, CRANN, Connect, Insight, TSSG and Adapt have put Ireland on the world centre stage for internet of things breakthroughs. The previous paragraphs have given an overview of currently technological trends and it is clear that these trends are here to stay and in terms of providing a sustainable strategic advantage these technologies will provide long-term advantages to business going forward. The principal means of utilising these technologies for business decision makers is to be innovative in their thinking. It is vital for business people to understand the use of information technology and in order to stay ahead of the competition they should work with technical people to achieve this, by working with an IT consultant small business owners across Ireland for example can gain an advantage on competition by implementing streamlined processes to their business resulting in profitability, higher revenue growth and productivity growth. An information technology consultant will provide excellent guidance in helping a business gain an advantage over competitors. One of the ways the consultant would do this is by using (Porter, 1985) Michael Porters five forces model, looking at the rivalry of competitors within the clients industry, by looking at the threat of new entrants within the clients industry, the threat posed by substitute products which might capture market share, the bargaining power of customers and the bargaining power of suppliers. By analysing these five competitive forces and consultant can then implement a strategy to counter these forces, A business must develop and implement strategies to effectively counter the above five competitive forces. (OBrien, 2011) suggest that organisations can follow one of five basic competitive strategies, which are based on Porters three generic strategies of broad cost leadership, broad differentiation, and focused strategy. The five competitive strategies are: cost leadership, differentiation, innovation, growth, and alliance. The following conveys how Information systems could be a critical enabler of these five competitive strategies , 1. Cost Leadership: Organisations can use information systems to fundamentally shift the cost of doing business (Booth, Roberts Sikes 2011) or reduce the costs of business processes or/and to lower the costs of customers or suppliers, i.e., using online business to consumer business to business models, e-procurement systems to reduce operating costs 2. Differentiation: Organisations can use information systems to develop differentiated features or/and to reduce competitors differentiation advantages, i.e., using online live chatting systems and social networks to better understand and serve customers; using technology to create informediariesÂÂ   to offer value-added service and improve customers stickiness to your web site/business(Booth, Roberts, and Sikes 2011); applying advanced and established measures for online operations to offline practices (i.e., more accurate and systematic ways of measuring efficiency and effectiveness of advertising) (Manyika, 2009) 3. Innovation: Organisations can use information systems to identify and create (or assist in creating) new products and services or/and to develop new/niche markets or/and to radically change business processes via automation (i.e., using digital modelling and simulation of product design to reduce the time and cost to the market (Chui, 2011). They also can work on new initiatives of establishing pure online businesses/operations. At the same time, the Internet and telecommunications networks provide better capabilities and opportunities for innovation. Combinational innovation and Open innovation are two good examples. There are a large number of component parts on the networks that are very expensive or extremely different before the establishment of the networks, and organisations could combine or recombine components/parts on the networks to create new innovations (Manyika 2009). Meanwhile everyone is connected via personal computers, laptops and other mobile devices through cab led Internet or wireless networks or mobile networks, there are plenty of opportunities to co-create with customers, external partners and internal people. 4. Growth (including mergers and acquisitions): Organisations can use information systems to expand domestic and international operations or/and to diversify and integrate into other products and services, i.e., establishing global intranet and global operation platform; establishing omni channel strategy to gain growth (omni channel strategy looks at leveraging advantages of both online (or digital) and offline (or non-digital) channels) (Rigby, 2011). 5. Strategic Alliance: Organisations can use information systems to create and enhance relations with partners via applications, such as developing virtual organisations and inter-organisational information systems. To conclude, the potential to use technology for sustainable strategic advantage is evident and by innovative thinking it can be realised with the correct technological tools and strategies. Technology will undoubtedly change the way commerce is carried out and information systems combined with technology will improve business processes and living standards going forward. It is the job of the information systems practitioner to always be aware of developing technologies and make use of them to improve business needs and to find solutions to business problems and also look at the possibility of developing the applications (SaaS) or otherwise needed to solve these issues. Additionally information systems by itself or in conjunction with internet of things could be used strategically to improve not only business processes but human lives by utilising (IoT) technology and information systems to build out platforms for concerns surrounding health and climate change issues. References Booth, A. R. (2011). How strong is your IT strategy? McKinsey on Business Technology. Carr, N. G. (2003, May). https://hbr.org/2003/05/it-doesnt-matter. Retrieved from Harvard Business View. Chui, M. . (2011). Inside P Gs digital revolution. McKinsey Quarterly. Gartner. (2012). Forecast: Software as a Service, All Regions, 2010-2015. IBM. (2014). Champions of Software as a Service: How (SaaS) is fueling. Jacques Bughin, M. C. (n.d.). http://www.mckinsey.com. Kennedy, J. (n.d.). www.siliconrebublic.com. Manyika. (2009). Hal Varian on how the Web challenges managers. OBrien, J. A. (2011). Management Information Systems. McGrawHill,. Porter, M. E. (1985). Competitive advantage : creating and sustaining superior performance. New York : Free Press, . Rigby, D. (2011). The Future of Shopping. Harvard Business Review.

Iceland Crisis

Background Information In three year period of 2008-2011 Iceland suffered one of the worst financial crisis in history. It Is bewildering how a country with population of only 320,000 could gather massive sums of money per capital, lose It all In such a short time period, and then manage an incredibly quick recovery since. Let's start by shedding some light on the situation leading to the crash. Iceland has always been affiliated with nature and fishermen. Fishing was the most prevalent occupation in Iceland, and a major backbone of their economy for years.Things turned direction in the ass following the liberalizing of Icelandic banks. Deregulation of banks added a whole new dimension to Icelandic economy and money was flowing more than ever. Glitter, Gapingly. And Landsman were Iceland's three most notable commercial banks who were enjoying a great time. High savings interest rate offered by Icelandic banks attracted plenty of foreign investors . Fishermen slowly turned into financ ial advisers to manage the capital inflow from outside, particularly from Germany and the I-J and create more wealth for Icelandic economy in the long-term.As with every great financial crash, greed and carelessness played a part. Banks, having believed the hype and buzz, were careless handing out big mortgages to loads of under-qualified applicants on low interest and made under-thought Investments abroad, particularly in the US. Iceland's banking sector was pride of the country which had transformed Iceland into one of the richest countries in Europe in a couple of decades. What Went Wrong The banks were accountable for themselves. There was no precise rules set for them.They had to go out there and produce. Their capabilities was the most important hinging and all else was secondary. If the banks didn't have to give ethical answers to the government, then they could be capable of many unthinkable things, especially in the banking world of the ass's and early asses. The prime mini ster of Iceland in that period (1991-2004), DavidГÂ ¶ Dodson, was no fan of government owned banks in Iceland, so none of the banks In Iceland had to answer directly to governmental authority. Reliant on external financing.They used mass wholesale funding to finance their way into the local mortgage market and obtain foreign financial firms mostly in the UK and Scandinavia. The banks were following the international ambitions of a new generation of Icelandic entrepreneurs who set to form global empires in industries from retailing to food production to pharmaceuticals. By the end of 2006, the total assets of the three main banks were $150 billion, eight times the country's GAPS. Low interest rate offered by Icelandic banks had allowed financing for rapid and pre- mature expansion of various companies in various industries perhaps beyond the nation's capacity.In half a decade, Icelandic banks experienced a mass transformation from being pretty much entirely domestic lenders to b ecoming major international financial intermediaries. The shift and growth was almost too good to be true. This is where things started to go south. As wholesale funding markets seized up (e. G. Lehmann Brothers' bankruptcy in September 2008), Icelandic banks were shaken and started to collapse under a mountain of foreign debt. The Crash and Its Consequences On October 8th 2008, Suppurating was placed into administration. The government had to intervene. Iceland was on verge of national bankruptcy.Foreign investors were seeking their money from Icelandic banks and threatened to sue. Everything was a sees. The Icelandic government nationalized Glinting. The control of Lambskin and Glinting were given to representatives of FM (Financial Supervisory Authority). Prime minister, Geri Heard, believed those actions taken by the government prevented the country from national bankruptcy. The impacts of the crash were severe on Icelandic economy, however. At end of second quarter of 2008, Ice land's external debt rose to close to Ð ²?50 billions), more than 80% of which was held by the banking sector.The national currency (Icelandic Akron) fell sharply in value. Foreign currency orientations were basically suspended for weeks. The Icelandic stock exchange fell by more than 90% and as a result Iceland officially bid hello to a period of economic recession. Recovery Icelandic economy continued to suffer for two years, but the signs since late 2010 have been very positive. Islanders have taken the right steps and have shown urgency in their efforts to get their economy back on track and it has paid dividends. The government's priority was to minimize the impact of financial crisis on the country.They placed Iceland ahead of foreign investors. As a result, an emergency isolation was passed, allowing the Financial Supervisory Authority to take over the domestic operations of Iceland's three major banks. The state intervened by protecting domestic creditors and depositors, no t allowing the taxpayers to take the burden of a bailouts. Instead of bailing out the banks (e. G. I-J, Ireland, etc), Iceland opted for defaults of the banks. This fumed foreign depositors, but Icelandic quick recovery was devaluation of Icelandic currency and implementing measures of capital control. The Corona's value halved making Icelandic exports (e. . Fish) and ours cheaper and more attractive to foreigners. These two sectors flourished as a result and played a significant role in growing the Icelandic economy again. Iceland have worked hard in restoring macroeconomic stability and rebuilding the financial sector. They put the money they received from MIFF ($10 Billion) in use to a 3-year restructuring programmer. The results are impressive as since then, the GAP has grown 2. 5% in two consecutive years. Now that the Icelandic economy is doing better, the government is making settlements to gradually pay the foreign investors back.The unemployment rates have fallen in half an d those accountable for the crash, even the former prime minister, were persecuted at the courts. Iceland did the opposite of Europe and the US to the situation and it has proved effective. Of course, it's a different situation managing 320,000 people as opposed to millions. It's not all rosy yet, however, as other economic sectors, notably private and household must catch up to fishing and tourism sector to take the momentum to next level and fully take Iceland out of what could have been a fatal blow. Conclusion 2008 Financial crash shook the world.The impact in Iceland was more incredible than most places as it nearly brought depression to the country. Deregulated Icelandic banks bit more than they could chew and ambition turned into greed and gamble. Series of factors gave hands to each other and took Iceland on verge of national bankruptcy. What happened after, is perhaps a lesson for all other nations who are struggling with their economies. Icelandic government prioritize its own nation above anyone else, and allowed its banks to default, protecting its people. They have since taken the right measures to increase spending and business in the entry.

Nashville Predators Case Essay

The Nashville Predators have been going through a seemingly endless process since entering the NHL in 1998. It did not take the Predators long to establish a successful and competitive nature among the franchise. Their first five seasons they struggled becoming a team and missed the playoffs, however, they have come together and made the playoffs every year since. The Predator’s on-ice performance was consistently among the top three teams in the league, but still faced many challenges. Although the Predator’s on-ice performance continued to mature, they still struggled with growth in ticket sales. How does a number three ranked NHL team fall to twenty-three of thirty teams in overall ticket sales? Clearly something needs to be evaluated in the management marketing strategy. According to many officials, Nashville has all the tools to generate a profitable franchise. It seems that since a team plays well that they should attract a loyal fan base. It was not this easy for the Predators as they dealt with several contracts over the years to gain one full-time owner. The team’s franchise might be undergoing new ownership once again. This puts an immense amount of stress on the management team as they have several things to prepare, for a potential new owner. The team believes that a new owner might move the Predators to a location outside of Nashville. The management team needs to come up with an efficient marketing plan/ strategy for the new owner. Re-location suggestions are among the top issues to evaluate. The team has narrowed their approach to five potential cities for the Predators, as well as the possibility of leaving them in Nashville. Hamilton, Winnipeg, Kansas City, Las Vegas, and Houston were among the best-fit re-location options. Although the team needed to look at other cities, they were also determined  to prove Nashville could be a success. The management team believed that with the on-ice success and a new and exciting marketing campaign would increase the average attendance at games. Some challenges they faced along the way were mainly generating more revenue, and targeting a new clientele. NHL depends heavily on ticket revenue and less on broadcasting compared to any other professional sport. This alone tells the management team, much more focus needs to be applied toward selling tickets. While more tickets need to be sold, there is a separate approach within this strategy. The majority of NHL teams sell sixty percent of their tickets to corporations, and accommodate business suites. The Predators are generating seventy percent of ticket revenue through individual sales and only thirty percent from business packages. This is a number that needs to improve for the franchise as they look to increase rev enue. Gaining support from major corporations is always an upside for any business. Whether the team moves, or remains in Nashville, there are several key decisions that the management team must make. First off they have to establish a comprehensive strategy starting with a recommended location. Where the Predators will be best fit is a decision that must be set in stone. Once you have the location set is when the team can move into an overall strategy for the franchise. They will need to consider recommendations on promotions, pricing, and customer focus. What will the ticket prices be, and how will they obtain the brand (team) loyalty from fans? No matter what strategy they decide it must be viable and profitable. Ticket prices are directly correlated to the attendance in the building, and present a major challenge. Last but certainly not least; the team must develop a strategy for targeting new corporations among its new location. This is hockey, however, at the end of the day this is business and is about having, â€Å"a good product on the ice†. Upon further evaluation of the franchise’s relocation, an internal analysis of strengths and weaknesses helps to visualize potential. As I said before, the Nashville Predators have a good team, but things must be evaluated to understand what to and what not to stress in their marketing strategy. Nashville Predator Franchise STRENGTHS WEAKNESSES On-ice performance: achieved playoff contention every year since 2003; Ranked third of thirty teams in NHL Competitive Nature: a team that plays well and succeeds generates more awareness & fans Sommet Center: only twelve years old; over seventeen thousand in capacity Seventy luxury suites for businesses Newly Renovated Arena: updated game clock/ score board; hundreds of televisions added for better spectator views State of the art technology in Arena Majority of employees/ players have been together for a while now and know how to work together through changes As of right now they have no clear strategy Management team is â€Å"in the dark†: because the team has not confirmed whether or not they are gaining a new owner- the management team is forced to plan for multiple scenarios under new ownership; Preventing them from focusing on one effective strategy Lack of corporate interest in Predators franchise Due to the attempts/ failures of multiple ownership agreements: the franchise appears as unwanted and undesirable to outsiders Lack of customer Service Department- over five hundred thousand dollars Lack of consistency within franchise External Analysis: Customers- NHL tickets serve purely hedonic needs in the eyes of the consumers, as Sports games are a facet of the entertainment industry. One group that the NHL targets in ticket sales are fans of the sport, both diehard and casual. Diehard fans purchased season tickets regardless of winning or losing seasons or other conditions and as such they are not considered price sensitive compared to casual fans. Casual watchers of hockey perform more of a search to find the best entertainment option for their dollar and can be trickier to encourage buying multiple tickets. Based on statistical figures your average NHL fan is a male in his middle 40’s, although almost 40% of fans are women. An interesting fact is that according  to the article, NHL fans are wealthier than any other fan of a major league North American sport. Fans of the sport geographically speaking are spread out across North America, but NHL franchise attendance is highest in Canada and Northern U.S. regions. Cont ext: Political: the National Hockey League governs Major league hockey games. The NHL regulates how many games are in each season, controls where teams are located or relocated, and determines salaries for players, etc. Economic: Like any other entertainment option, success as a business depends on the customer’s amount of discretionary income. If the general economy is suffering, NHL games likely suffer in terms of ticket revenue. Social: NHL is a part of the sports entertainment industry, which continues to grow into a multi-billion dollar industry. Many in North America follow a sport one way or another and are a way to socialize with other fans. Technological: Not too many technological advances in the sport of hockey, other than to watch games while not in attendance. Company- The National Hockey League (NHL) is the governing body for professional hockey teams. The league, more than any of the other professional leagues, depends on ticket sales as a main source of revenue. According to Porter’s generic strategies, the focus of the NHL is to provide a different kind of professional sports experience at a competitive price point. Unlike football or baseball, hockey is generally not susceptible to fluctuations in ticket revenue based on weather since it is an indoor event. No other sport is played on ice so that is the NHL’s main source of competitive advantage. Collaborators- The NHL is in contract with venue leasing companies to provide the arena for the games and they are their biggest collaborators. Also contributing to the game day experiences are the firms that provide the food and beverages, manufacture the merchandising and player uniforms/equipment, security, etc. Most of these arenas aren’t built solely for hockey games so firms that design, build, and manage the ice rinks are crucial to delivering the product. Competition: Product Category Competition: NFL, NBA, MLB, and MLS Generic Competition: College sports games, race tracks (of horse and car variety), lesser league/amateur league sports games, high school sports  games, heater performances, concerts, other live events, etc. Budget Competition: Movie theaters, restaurants, PPV, etc. Power of Suppliers- Low/ If we are assuming the players are the suppliers since without Them the sport wouldn’t exist. The NHL has every player on a contract and while there Are other hockey leagues they are of lesser quality and do not pay as well as in the NHL. Providers of the food/beverage, merchandising, etc. are not in control because it is easy for the NHL and the individual teams to seek other sources. Power of Buyers- High/ Potential ticket purchasers can seek other forms of entertainment that is of more value to them. Powers of Substitutes- High/ There are other lesser leagues as well as a plethora of non-professional sports that the NHL has to compete with. Power of New Entrants- Low/ Each individual sport has their own governing body that regulates the professional games. To rival the NHL there would need to be massive capital costs, economies of scale, etc. Rivalry- High/ Other professional leagues compete to attract the casual sports fans to increase ticket revenue When looking at the Nashville NHL franchise, it is important to consider the competition it has with other league teams, such as the Tennessee Titans and the Nashville Sounds. In this situation, Nashville in particular doesn’t have any other major league team but within a couple hours’ drive is the Memphis Grizzlies, an NBA team. Nashville is also a popular destination for music lovers. This aspect of the entertainment industry poses a threat to the Predators franchise. The franchise is also at a disadvantage geographically as fans of NHL is more congregated in northern regions and into Canada. The NHL desired to reach into the southeastern U.S. region but based on the performance of Nashville and other franchises as Atlanta, Carolina, and the Florida Panthers, it seems that the experiment is failing. 4. Hamilton- The target market that this city should focus on is the casual fan. With its proximity to Toronto and Buffalo, Hamilton will have a difficult time luring diehard fans since they already have their team loyalties. Casual fans aren’t as willing to travel to watch games so targeting these fans would be an advantage. The team should be positioned as the closer, more hometown team since fans in the city probably had to travel to attend NHL games. Competition could arise from its close proximity to already established NHL teams; this location option in our opinion is seen as cannibalization more than already as ticket revenue would likely cut into Toronto, Buffalo, and other Canadian teams. Winnipeg- This location should target the diehard fans in particular as it is noted that the city once held an NHL franchise and many in the city are desperate to have another team again. Positioning the team would be easy, it’s the best games, the best players, and it’s the NHL, the pinnacle of hockey. As far as competition, it seems that the team would have no significant location competition, as there are no other professional teams in the area, just NHL affiliates. Kansas City- This location should target the casual fan or entertainment seeker, as there is intense competition from other professional teams such as the NFL Chiefs, MLB Royals, and an arena football league team. The franchise would have to be positioned as something different in the city, as a different way to enjoy an intense physical sport that compares to football in that regard. Las Vegas- An NHL franchise in this city would be the only professional league team in the city, and other than competing with the gambling/dining/other entertainment options offered by the tons in the â€Å"entertainment capital of the world† would have the ability to stand out as an elite sports experience that stays year round. Las Vegas hosts all sorts of other sports events, but this would be a year round sports experience. The target market would need to be both casual and diehard sports fans as this would be the only professional sport in the city and the franchise could easily capitalize on this. Hous ton- Competition from all the major professional league franchises would make this city a challenge for the Predators. Appealing to casual fans would be important for the team, although diehard hockey fans who regularly attend Dallas Stars could attend games in Houston if they lived closer. Houston  usually doesn’t endure any harsh winters so this team could be positioned as a way to cool off and get chilly watching intense physical hockey games. After carefully reviewing all the possible candidate cities, our group decided that we would select Las Vegas as the next location for the Predators franchise. One of the main reasons why we chose this city is because it is devoid of any professional league teams already, so the franchise would be the only one in the area. The franchise could easily capitalize on this and create a niche for itself against the wide assortment of gambling and other entertainment in the city. The city is also one that is quickly growing, with a population of 1.7 million at the time of the article and a yearly growth rate of 11.5%. While seat capacity is limited, creating high demand for the NHL experience in the city would allow the franchise to potentially raise ticket prices, therefore increasing revenues and profits. Median family income is also the highest of all the U.S. candidate cities with $58,465, which could further justify charging higher ticket prices. As the â€Å"entertainment capital†, Las Vegas is a popular tourist destination in the country and the world. Having a team in this city could see casual and diehard sports fans making the trip to Las Vegas and make a complete experience out of attending an NHL game. After attending a game, fans can explore all the casinos and nightlife hotspots that make Las Vegas famous. In our opinion, Las Vegas is the most exciting prospect for an NHL team and with the potential to charge more premium ticket prices could see the franchise turn around and become profitable. Ticket Pricing: In order to determine the ticket price that the Predators should charge, assuming they move to Las Vegas, we will need to determine the fixed costs associated to running the team in this area. Fixed Costs Nashville Predators Sponsorships Player Salary 48,300,000 MGM Casino 5,000,000 Lease 1,500,000 Corporate 8,500,000 Broadcast costs 1,000,000 Total 13,500,000 Arena Operations 7,000,000 Total 57,800,000 Sponsor -13,500,000 Total FC 44,300,000 Above are the fixed costs associated with the Nashville Predators moving to Las Vegas. Broadcast costs along with lease costs were used from historical data. Total fixed costs amounted to $44,300,000 excluding sponsorships from the MGM casino and corporate historical sponsorships. Next our group chose to use the historical average prices from the Predators and the average prices from the NHL. We decided to use these prices as reference because we wanted to get a general feel as to where the Predators sit in their pricing scheme compared to the national average. From this analysis we decided that the Predators are charging too low for their ticket prices. We did not want to charge above the national average though, after the Predators move to Las Vegas they can then get a better feel for whether or not they should increase the price even more. So our group decided to charge $48.72 for regular admission and $112.10 for premium tickets. If the arena meets capacity of 19,300, this would bring in revenues of $529,175.14. We also wanted to make sure that the Predators are able to recoup the initial investment they will make. To do this we ran a break-even analysis to see how many tickets they will need to sell to cover their fixed costs. Below is our break-even analysis. Break-even Analysis Total FC 44,300,000 Ticket price /(48.72*.79)+(112.10*.21) 62.0298 Total Tickets 714172.8653 We weighted the ticket prices by their percent of interested fans in that price. Then took the fixed costs and divided them by the ticket price to come up with 714,173 tickets that must be sold in order to cover fixed costs. This is solely in ticket sales and does not include the revenue from future concessions and other revenues from the arena in Las Vegas. This number is slightly higher than the number of tickets the Predators sold last year that was 611,328. This number was extremely low compared to the league. Our group believes that our estimated 714,173 tickets is a plausible number if the Predators move to Las Vegas. Promotional and Advertising Plan: TV/Radio Promotions: TV and radio ads are aired typically on sports-related media. The viewers and listeners to these stations were males between the ages of 25 and 54. In Las Vegas the median age of residents is 34, which is right in the middle of the TV/Radio viewer age. Also Las Vegas is primarily male, coinciding with the viewers of sports radio and TV. We would hit hard in promoting the Predators though radio and TV. The demographic for this type of promotion is perfect and we believe we would be very successful using this media. Player Appearances: As the main demographic for player appearances is a younger child, we believe that this tactic can only be used for specific events that may hit the city of Las Vegas. Most likely we would have players appear at charity events, and other found raisers that are hosted in the city. This way they can get in touch with an older generation that better fits the demographic of Las Vegas. Corporate Mail Outs: We would use corporate mail outs in our strategy. As Las Vegas is already thriving in businesses that are mainly casinos, shows, and shopping, asking them for sponsorships and advertisements would be competition against our main sponsor MGM, also the hotel where the arena would be located. Fan Giveaways: Fan giveaways will be very useful in promoting the Predators. Las Vegas is a place where people come to WIN! Having giveaways for our main ticket purchasers, such as a free stay at the MGM Grand, or simply cash, would be very effective in keeping out current fans interested and satisfied while also attracting new fans with the hope of WINNING BIG! Online Advertising: Online advertising is a medium that is becoming more and more successful with the increased use of technology. As research stated, 68% of avid sports fans had used the Internet in the past 30 days. We would take full advantage of this less-costly way of promoting the Predators. The website for the Pr edators would need to be updated to coincide with the likes of the Las Vegas demographic, and the surrounding area. The site would need to be exciting and captivating as well as very easy to access. Our advertising would also have to appeal to the nation, as it would be seen on ESPN.com, TSN.ca and NHL.com, all of which are viewed nationally and internationally. Ticket Sales: With using TV/radio and Fan Giveaways as our main ways of promotion and advertising, these two mediums would be where most of the  Predators ticket sales would generate.  Cost of Plan: In order to use these two mediums to create the most hype and ticket sales, it is going to be costly. The predators would need to spend about $3.5 million and up on TV/radio advertising, in order to sell the number of tickets they need per game. If TV/radio advertising is successful then the Fan Giveaways can become less and less costly. If TV were successful then the Predators would need to spend from $0 to $500,000 to make up for the rest of ticket sales. If TV/radio advertising is less successful then they will need to spend from $750,000 to $1,000,000. If they go higher than these costs, research shows that in Las Vegas they will still attract the same amount of ticket sales as they would if the only spent $1 million. As we are not completely utilizing corporate mail outs and player appearances, combined these would cost the Predators a maximum of $200,000, but most likely the cost would be much less. As previously stated we would use online advertising. Las Vegas stays rather consistent with the number of tickets that are sold related to online advertising so the Predators would only need to spend a maximum of $700,000, after this amount, historically the same number of tickets have been sold. Below is a table that shows the maximum that the Predators would have to spend on advertising and promotion in Las Vegas. Maximum Cost of Promotion and Advertising TV/Radio 3,500,000 Giveaways 1,000,000 Online Ad 700,000 Appearances/Mail outs 200,000 Total Cost 5,400,000

The Things They Carried - Themes Essay - 970 Words

nbsp;nbsp;nbsp;nbsp;nbsp;In Tim O’Brien’s novel, The Things They Carried, numerous themes are illustrated by the author. Through the portrayal of a number of characters, Tim O’Brien suggests that to adapt to Vietnam is not always more difficult than to revert back to the lives they once knew. Correspondingly the theme of change is omnipresent throughout the novel, specifically in the depiction of numerous characters. nbsp;nbsp;nbsp;nbsp;nbsp;Tim O’Brien is drafted one month after graduating from Macalester College to fight a war he hated. Tim O’Brien believed he was above the war, and as a result pursued the alternative of escaping across the border to Canada. This understandable act is what Tim O’Brien considers an†¦show more content†¦Rat Kiley’s metamorphosis occurs when the platoon switches to a routine of night movement for 2 weeks. Rat is unable to adjust to this night life, and begins to act eccentric towards the surrounding environment. Rat Kiley’s hallucinations eventually leads to his demise when he shoots himself in the foot to escape the war. nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;He shot himself†¦ Nobody blamed him. Before the chopper came, there nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;was time for goodbyes. Lieutenant Cross went over and said he’d vouch nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;that it was an accident†¦ Everyone stood in a little circle, feeling bad nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;about it, trying to cheer him up with bullshit about the great night life in nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;Japan. nbsp;nbsp;nbsp;nbsp;nbsp;(O’Brien 251) Rat Kiley’s company understood what happened, and no one could impugn his reason for doing so. 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The soldiers carried ghosts, memories, and burdens. Everyone