Podcast evaluation
Running Head: PODCAST EVALUATION 1
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Podcast evaluation
Question 1
Commercial motivation is all about change and new ideas or new facilities. It is about far more than simply profit. Current needs are focused and to create more suitable facilities. To deliver more sustainable and better services to the residents by integrating commercial awareness is called commercial motivation. Before undertaking a project, one needs to know about commercial motivation. Any organization that wants to raise its profile needs to implement commercial motivation. Before undertaking a commercial project, it is important to know about commercial management. It tells us about the multiple connections and interactions between buyer and seller and the issues relating to the project (Lowe, 2013). assessment tool:This question seeks your assessment of commercial motivation. There exist several tools for doing this. We covered these in lecture 5 when reviewing business models. Two common assessment tools discussed where SWOT and PESTLE. Using these or its like for your assessment is worth considering. You can also consider using any of the core concepts that fit.
In the podcast “the political butterfly effect,” the city council was involved in a project for the park. The council used the resources to build the park, but it lacked sustainable services and management. The council did not know how to build a park. Without any knowledge of environmental and commercial management, they constructed the project. For the project to be a success, the council has to understand commercial management and business frame model. Moreover, it is crucial to develop strategic planning before executing a project. The project of park would have been a successful project if the council had used assessment tools such as SWOT and PESTLE.
SWOT and PESTLE can be helpful in assessing any project. SWOT analysis can be conducted to identify the strengths, weaknesses, opportunities, and threats. Unique selling points of the business can be determined through this analysis. With the help of SWOT analysis, a business can address its weakness and mitigate threats. PESTLE analysis is another assessment tool that helps to analyze external factors. It is important to determine external factors such as social, economic, political, technological, and legal to develop a business.
Question 2:
There are many reasons why this project failed. Firstly, the council did not know anything about commercial and environmental management. The council did not know how to run a park, and what tourist areas have to be included. The council started to work on the project without any planning. Secondly, the residents were not happy with the project due to the theme and design of the building, and some demanded refunds. They were not satisfied because their needs were not included in the project. Thirdly, the procurement practice of the council was not right. Procurement means identifying, selecting, and acquiring the materials and services that a business needs (Lowe & Leiringer, 2008). In this process, there are many steps to follow that were not followed by the Morecambe Council. We must understand that, to make a project successful, we need to know about commercial management. Moreover, environmental management is also crucial as it is one of the pillars of sustainability. to get full marks just consider linkage with some of the best practices covered in lecture 5
It is crucial to know the offensive and defensive market strategies. With the help of these strategies, you can satisfy the customer with your services and product. In addition to that, to ensure the success of any project, it is significant to know that the project fulfils the desires and requirements of the customer. Customer intimacy analysis is one of the practices that help to understand the needs and behavior of the target customers. In this analysis, the customers are identified, and it ensures that the project is meeting the needs and desires of the target customers. Another practice that can be useful for the success of the project is developing a value proposition. This includes the unique value that the project will provide. This value proposition helps customers to understand why they should choose a particular project.
From the case of the failed project (theme park based on Mr. Blobby) by Morecambe Council, we learned the importance of social value. It is the broader understanding of the value that includes social, environmental, and economic values, which are the three pillars of sustainability. Other activities are also included in social value such as job creation, ethical principles, and community engagement. By following these aspects, we can achieve sustainability. For any sustainable venture, the social value must be included. However, the project of Mr. Blobby did not focus on improving the social, economic and environmental well-being.
To have a successful sustainable venture, we need to know about the successful business model. The business model framework includes various tools that can be applied to a business or a project to make it successful. In this case, customer intimacy analysis will be the best sustainable venture for Morecambe Council. It is one of the practices that help you to understand the needs and behaviour of the target customers. In this analysis, the target customers are identified. Then, the needs of the customers are identified. Understanding the preferences of the customers is crucial for a successful business. Customer intimacy analysis ensures that the project is meeting the needs and desires of the target customers. In the case of Mr, Blobby, Morecambe Council did not study their customers and their needs. The council did not know about their customers. They began with the project without knowing the interests, needs, capabilities, and preferences of the customers. When you know about the customers’ needs and interests, you have fewer competitors.
The council could have gathered data about the target customers through surveys. They could use this venture for their project to be a successful one. They could focus on sustainable tourism as well. The visitors of the park were not satisfied with the tourism area because it lacked attraction options for tourists. Morecambe Council could add sustainable tourism areas to attract customers. This way the council could differentiate itself from others.
References
Lowe, D & Leiringer, R. (2008). Commercial Management of Projects: Defining the Discipline. Commercial Management of Projects: Defining the Discipline, 1–470. https://doi.org/10.1002/9780470759509
Lowe, D. (2013). Commercial Management: theory and practice Partnering View project. 1–16.