Business House Group: Online Business Educational Program For SMEs In Construction Field

How to access opportunity VRIO

According to Knott (2015), the VRIO analysis is done to identify a large strategic scheme of an organisation. It has been stated that the basic process that undergoes in a firm starts with a vision statement. In the case of Business House Groups, the aim of the organisation is to ensure that an online business educational program for SME focused in the field of construction is developed. Therefore, the value that is provided by the organisation is that it can provide opportunities for growth in the economy so that any external threat can be restricted. The gap in the market can be solved by providing expertise based on degrees that are required by the people.

One of the advantages that can be gained by Business House Group is the fact that the courses offered are rare. The main competition that may arise is from IBIS and the other universities may take a longer time in the completion of the course. Hence, it can be said that with a strategy which implies low cost and high effective programme the Business House Group can excel in the market by providing opportunities for growth of new types of courses. With the rise of online courses all over the country and the world, the courses provided by Business House Group can be imitable.

The case study points to the fact that the barriers, which exist in the industry are medium. This is because the cost of establishing and delivering the product is high. This can help in the growth of Business House Group, as competitors may not be able to gain effectiveness in the market as quickly as it expects. Despite the increasing number of competitors, several factors need to be kept in mind such as the price of the courses, brand name, reputation it hold in the market and the service provided by the courses (Moore & Dutton, 2018). Hence, the aim of the organisation of providing unique learning experience can be gained by focusing on the contents of the courses as well as the opportunities provided via the software and technical side of the projects.

Table 1: SWOT analysis

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From the SWOT analysis, it can be seen that the major strength of the Business House Group is that it has been in effect for 12 years. Therefore, the longevity of the organisation can be considered as an additional factor that can help it to grow and develop in the Australian market. It also means that the trust of the people can be gained and a proper evaluation of the courses can be made. At the same time, the organisation provides higher studies at a low cost. This signifies that students need to spend less in order to gain a proper education. Hence, attracting the customers can be done based on the prices offered for the courses.

At the same time, the weakness of the organisation is that no creativity exists in the organisation. The courses offered focus more on the courses already offered at the Universities. Therefore, the new courses or unique courses need to be developed so that the students can be attracted to continue with the course. At the same time, the focus of the organisation is to focus on the development of small business in Australia. However, the case study shows that the small businesses in Australia are rare and it can be difficult to gain small business that require improvement and can pay quality fees for the courses.

Resource

However, the opportunities that are present in the Business House Group are that it can provide unique courses. The fact that the organisation replicates courses offered in Universities can be a weakness but the manner in which it can develop the same courses more on a practical form can be considered as an opportunity. The development of online business education programme can be considered as an opportunity for development. At the same time, the case study provides evidence that the Business House Group does not have competitors. Therefore, opportunities for development can be made in the business.

The major threat of the Business House Group is from IBIS world, which is reputed and is in the market for a longer time. Hence, a deeper study requires to be conducted that can help in the development of the organisation and remain at par with the opportunities provided by the IBIS World. Hence, the threat can be considered as medium in the market. The analysis also show that the courses offered can be replicated as seen from the case that the Business House Group also replicates the courses offered by the Universities. Hence, this can be considered as a major threat for the development of unique courses in the market.

Mishan (2015) are of the opinion that the cost benefit is an approach that estimates that strengths and weakness of a business in terms of its financial feasibility and the benefit it can receive. In the case of the Business House Group, the cost benefit of the company can be related to the manner in which it can help and continue with its development. The revenue analysis of the company since 2006 can be calculated in order to understand the cost benefit that is received by the company. The case study analysis shows that during 2012-2013 sessions the Business House Group had seen the maximum growth at 38.4%.

The analysis provides evidence that with a growth of revenue, the benefits of the company can increase. At the same time, it can be said that in the years that followed the success, increase of revenue did not aid in the growth of the company. Hence, a benefit effort plan can be created in order to understand the growth of the business keeping in mind the effort that has been provided. The benefit effort analysis can help in identifying the opportunities that can be received while continuing to grow in the market.

Table 2: Benefit effort analysis

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The analysis of the table shows that the major initiatives taken by the Business House Group can have a significant benefit for its development. The effort put in for the development can be considered as a means of identifying the opportunities it can receive in the market. It can be seen that the effort required for convincing the new business or future prospects is the least as to set up a successful business, these organisations may enter into a business deal with the Business House Group. Therefore, the benefit is also less as uncertainty over the partnership may exist. At the same time, it has been seen that the benefit and effort for the set up of online education is equal.

Result

The needs analysis can be described as a formal business process that focuses on the qualities of a product and the manner in which it can address the needs and demands of the customers (Serafini, Lake & Long, 2015). In the case of the Business House Group, needs analysis of the organisation can focus on the development of online education for the benefit of its customers. The analysis of the case study has showed that the projected revenue of the company 20118-2019 is about $5,302.4. On the other hand, the growth of the company is estimated at a 3.6%. Therefore, it can be said that the need of the company is to ensure that it manages to grow its business. To achieve this it is necessary that the Business House Group develop courses that are unique and can have significance within a market.

At the same time, the need of the company is to analyse the finances required for setting up the project. This can be done by analysing its budget and the revenue it incurs. The case study shows that despite the growth of revenue over the 12 years in business, the growth rate has been stunted. Hence, it can be said that in order to meet the needs of the customers, the growth of the company needs to be taken into consideration. The customers and the small business organisations would require uniqueness in the market so that a competitive advantage can be gained. Therefore, the needs of the customers are focused more on the development of alternative strategy for providing education rather than spending a lengthy time at the Universities.

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