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Strategic Business Plan for the Indonesian Music Shop Essay Example

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Strategic Business Plan for the Indonesian Music Shop

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Strategic Business Plan for the Indonesian Music Shop. Regarding the products and services offered by the company on its website it provides portal to its customers for placing their orders and specifications after getting registered with the website. The website also provides additional information on health issues, and food and spices, and offers spaces for advertisement to other companies (The Indonesian Music Shop-website, n.The external environment of the location is needed to be assessed properly to develop the strategic plan for the company. To analyze the external environment of the company the strategic framework of External Factors Evaluation (EFE) matrix can be used which covers all of the external influential factors which have an impact on the business of the company.

The EFE matrix holds for the assessment of the external factors which influences the business of an organization. The factors included under the EFE matrix are of variable nature such as economic, demographic, governmental, social, environmental, technological, cultural, political, and competitiveness level (Katsioloudes, 2006). All of these factors in the context of Indonesia and its music industry will be included and summarized under the external assessment of the company.To have a competitive analysis of the company the strategic framework of Michael Porter’s five forces analysis have been used. Under this framework various factors which influence the business of the company can be analyzed critically (Day et al.The suppliers of the company consist of mainly music and entertainment industry entities which provide them with required resources for their supply chain. Companies such as Sony and other entertainment companies have approached the company to promote their product through their website and selling them to all of its global customers (The Indonesian Music Shop-website, n.The music industry of Indonesia has taken pace in recent days and most of its business partners such as music artists, and music creating companies have received better response from them which is a good indication (The Indonesian Music Shop-website, n.Recently MTV has entered the Indonesian region and has received an impressive response from the nation which has also supported the promotion of the local music types and culture globally (Santana, 2003).The customer group entertained by the company has its major portion belonging to the nation. Strategic Business Plan for the Indonesian Music Shop.

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