Essays on Successfully Launching New Ventures Case Study

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The paper " Successfully Launching New Ventures " is a great example of a Marketing Case Study. UNE Life is a business venture whose declared intention is to provide services and facilities at the University of New England (UNE). UNE Life was formed in 2014 when two pre-existing service providers – SportUNE and Services UNE – merged to form a single entity. In total, UNE Life comprises nine businesses, all intended to enhance the student’ s life when studying at the University of New England. Combined, all the services provided by UNE Life arguably cater to all service needs of students, staff and community members living in and around the university.

The foregoing service provisions are captured in UNE Life’ s mission statement, which indicates that the organization seeks to “ provide a consistent and streamlined approach to the provision of services and facilities at UNE” (UNE Life, 2015, para 1). This mission clearly captures the market influences that UNE Life has to contend with. For example, there is a trend in most markets where customers are demanding and are provided with one-stop shops.

This means that everything that a specific consumer interest group needs can be found under one roof. SMART objectives are “ Specific, measurable, attainable, relevant and time-specific” (Analoui & Karami, 2003, p. 125; Cothran & Wysocki, 2012, p. 1). UNE Life has indicated one objective, which arguably informs all its activities. In the objective, UNE Life intends to make life in the university easier and more enjoyable. Arguably, this objective meets the SMART specifications because it is specific in what it wants to achieve (i. e. easy and enjoyable life for students).

The objective is also arguably measurable because UNE Life can quantify the number of students, staff or community members who use their services. The objective seems attainable because UNE Life has set up a total of nine businesses that arguably cater for all students’ needs, hence making the attainment of an easy life by the target market possible. The relevance of the objective is not in doubt especially considering that students’ lives can be complicated if the students have to leave campus in search of simple services such as laundry and off-campus meals.

Finally, while there is no indication of time, the objective is arguably time-bound because making life in the university easier and enjoyable is a continuous undertaking. This undertaking only ends for students who leave campus but not for UNE Life, which has to continue providing the same services for other students. Hierarchy of Strategies Like most businesses, the hierarchy of strategies at UNE Life includes corporate, business and functional strategies. As indicated by Walker, Gountas, Mavondo, and Mullins (2015, pp. 6-7), the three levels of strategies serve different organizational needs. The corporate level strategy seeks to identify the business’ s reach, competitive contacts, business interrelationships and management practices (Pycraft et al. , 2000, p.

72). At UNE Life, the relevance of corporate strategy is evident from the business portfolios and units that the company has and how they are managed to attain compatibility under the UNE Life corporate image. Additionally, the positioning of the brand (associating itself with UNE) and the business position (located within the UNE campus) are all part of the corporate strategy. On its part, the business strategy is concerned with developing a sustainable competitive advantage for the firm (Pycraft et al. , 2000, p.

72). One business strategy that is worth noting at UNE Life is the combination of nine businesses under one corporate image for the purpose of satisfying students’ need for an easy and enjoyable life at campus. The functional strategy, on the other hand, has discrete plans of actions, which are necessary for each business unit to succeed. It is a functional strategy that provides input for both business and corporate-level strategies to succeed (Pycraft et al. , 2000, p.

73). The relevance of the functional strategy at UNE Life is evident from the fact that all nine business units pursue different competitive strategies, which all unite under the UNE Life corporate banner. Moreover, combined, the entire nine business units capture every possible student need, hence enhancing UNE Life’ s competitive position.

References

Analoui, F., & Karami, A. (2003). Strategic management in small and medium enterprises. Stamford: Cengage Learning.

Barringer, B.R., & Ireland, D. (2010). Entrepreneurship: Successfully launching new ventures (3rd ed.). Upper Saddle River, NJ: Prentice Hall.

Belgrave Cinema. (n.d). Ticket information. Retrieved July 29, 2015, from http://www.belgravecinema.com.au/Page/Ticket-Information

Cothran, H.M., & Wysocki, A.F. (2012). Developing SMART goals for your organisation. University of Florida IFAS Extension. 1-2.

Pycraft, M., Singh, H., Phihlela, K…Johnston, R. (2000). Operations management. Johannesburg: Pearson Education South Africa.

Truch, E., & Bridger, D. (2004). The importance of strategic fit. Retrieved July 29, 2015, from http://www.ashgate.com/pdf/samplepages/le085763ch1.pdf

Truch, E., & Bridger, D. (2004). The importance of strategic fit. In Truch, E. (Ed.). Leveraging corporate knowledge (pp.10-22). Aldershot: Gower Publishing.

UNE Life. (2015). About us. Retrieved July 30, 2015, from http://unelife.com.au/about-us/

Verma, A.K. (2014). What are different types of marketing research? Market Research. Retrieved July 30, 2015, from http://whatismarketresearch.com/market-research-types/what-are-different-types-of-marketing-research/

Walker, O.C., Gountas, J.I., Mavondo, F.T., & Mullins. J.W. (2015). Marketing strategy: A decision-focused approach (3rd ed.). North Ryde: McGraw-Hill.

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