Transcript Ministry of Sound

MINISTRY OF SOUND
Sabena Ahmad
Iveta Smincakova
Dawn Bradbury
MINISTRY OF SOUND
PESTLE analysis
SWOT analysis

Political

Strengths

Economic

Weaknesses

Social

Opportunities

Technological

Threats

Legal

Environmental
PESTLE ANALYSIS
Political :

Rule of Conservative Government

International relationships enabled UK businesses to spread worldwide
Economic:

Growing market for dance music beginning 20th century (34% in 1991)

Downfall of UK singles markets to 15.4% in 2002
Technological:

Rapidly changing music environment requires investment in new up to date equipment.
Social:

Expansion of the business worldwide/increase in number of clubs and visitors

Festival weekends

By 2001 the Ministry’s touring hosting 300 events worldwide e.g. China and India

Security dealing drugs to clients in the clubs
Environmental:

Campaigns against drug use

Noise barriers

Under age drinking law
Legal:

No strict legal restrictions for drug use

Local laws restricting late night attractions in overseas venues
SWOT ANALYSIS
Strengths:

Innovative idea of CEO (Dance Club)

Convenient location

Good educational background/experiences of the founder

Investment in sound equipment

Internationalization

Expansion into broadcasting and traditional advertising
Weaknesses:

Drug dealing part of the dance culture

Inability to keep up with the competition (same music style)

Closure of parts of the business as a result of losses
Opportunities:

Growth of business into different niche market

Change of marketing strategy (Logo)

Joint venture with 3i

Change of corporate strategy after downfall of the company (branding)

Three separate division (international brand and marketing)
Threats:

Competition (Live music, festivals e.g. commercialisation of Glastonbury)

New entrants to the market

Change in music style

Political and economic issues in different countries

Loss of credibility – become too mainstream
CRITICAL SUCCESS FACTORS








Innovative ideas
Long term corporate strategy
Clearly defined strategy objectives
Globalisation
Business environment and resources
Management at all organisational levels
Market positioning
Shared vision and goals (top-down hierarchy)
MAJOR ISSUES
Short-term strategic planning
 Brand positioning
 Inability to maintain change
 Narrow market and target audience
