The IT industry is very fast paced and under a lot of competition from many sources including tech giants like
The IT industry is very fast paced and under a lot of competition from many sources including tech giants like Apple and Microsoft and tens of thousands of smaller app developers. The ABC IT company commenced operating in Melbourne just over 15 years ago and today has expanded to different locations around Australia with plans for further growth and development. In order to do this in a planned and sustainable way, the company needs to examine the following questions. Systematically analyze the questions with appropriate business, industry and market research.
Key questions the company needs to answer:
1 What are our strengths, weaknesses, opportunities and threats? (SWOT)
2 Who are our major and minor competitors? What are they doing, how quickly are they growing, are they are threat - should we beconcerned?
3 Undertake a detailed competitive analysis of our competitors, recording and reporting findings with details on what are the other builders doing , what is their point of difference, what is our point of difference?
4 What are other revenue streams/earners that we should consider (competitor and global trends)? Why? How and why are they value adding for the business and our current and potential clients? Will they assist with our long term sustainability?
5 Identify the legal frameworks, requirements, skill sets, licenses, work-force and IT system requirements for these other revenue streams
6 Identify and conduct a risk assessment on what are the pro 'sand con's and pitfalls associated with pursuing these other revenue streams
7 Identify who, if anyone, is currently pursuing these other revenue streams - not just locally or nationally, but globally as well.
8 Identify the future trends - building, tech, materials, environmental, processes, IT etc. - in the local, national and global industry. Understand and analyse how does this can and will impact us, our competitors, current and future revenue streams and sustainability?