Ministry of Sound
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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