What is marketing audit - Free Essay Example

1.0 Critical Analysis of Marketing Audit 1.1 Introduction In todays dynamic telecommunication industry it is critical to analyze the dynamic environment and analyze key product/service offering to target customers. Further, the information gathered from marketing audit is used to critically analyze Dialog product line performance and current product management issues with relevant tools and models to identify the key opportunities/weakness which D-GSM could face in future. 1.2 General Issue Inefficient Channel Distribution Management The downstream distribution is a key part of achieving sales objectives for D-GSM. In other words, business-to-business (B2B) customers push the products of D-GSM to end customers. Currently D-GSM is operating with four major first tier distributors and 1200 retailers in 85 cities in Sri Lanka. In recent past further the retail distribution chain has declined in each province (Refer Appendix B 10.0). The long tier retail distribution has reduced the profit margin thus resulted the retailers willing to promote competitors products (Refer Appendix B 11.0). Another reason identified for this decline is high sales staff turnover which resulted for poor retail management. The issue highlighted above can be highlighted using Ishikawa Cause/Effect diagram shown below (Refer Figure 1.0) Model Adopted from (Albert, 1989) 1.3 Product Management Issue Current Health of Product Portfolio Figure 2.0 BCG Matrix Market Share High High Market Growth High Star Products Question Mark Products Low Cash cow Products Dogs product BCG Model Adopted from (Kotler, 2008) Healthy product portfolio is important for organization to gain competitive advantage. Further analyzing the Boston Consultancy Group (BCG) matrix (Refer Figure 2.0) its understood that D-GSM key products are positioned i0n cash cow. In long term these products could move to dogs section which could harm the product performance of the organization. Further products like Kids connection and Code-Division-Multiple-Access (CDMA) are currently in dogs section of BCG matrix needs to be removed from the product portfolio as they consume high cost to maintain the products and return low profit to the organization. Moving forward D-GSM needs to plan for product development to position in star segment of BCG matrix which is currently with few products. Star products are highly needed for organization to gain competitive position; eventually star products will become cash cow and dogs respectively, Further D-GSM needs to identify products are in the question-mark segment to invest to generate market share and returns. Now it is proved lack of product portfolio management has resulted developing low income generating products and thus D-GSM needs to follow a strategic system to have a balanced product portfolio management to gain competitive position in dynamic market. Inefficiencies in New Product Development(NPD) Model adopted from (Kotler, 2008) D-GSM is currently facing set back with competitors. Presently D-GSMs core products, which face severe competition from competitors, are in maturity stage. Thus these products are experiencing reduction in the profit margin (Refer Appendix B- 8.0). The marketing audit (Refer Appendix B) clearly indicates that Dialogs Mobile-broadband is currently in maturity stage and clearly indicates declining in profit. Further it is evident that no product-line-extensions are developed for the product survival which has created a quick decline stage for most of the product. There are few products and product-line-extension that are developed having long gap in introducing to the market in the new product development pipeline (Refer Appendix B- 11.0); as a result existing mature products (Cash-Cow) tends to decline faster. Moreover this is further evident that D-GSM has allocated low marketing budget allocated product innovation (Refer Appendix B- 12.0).Overall improper management in NPD has created threat for D-GSM of being a market leader and loosing first mover advantage for key products. Gap identified in mobile-broadband STP Strategy Today in telecom industry mobile-broadband is a core product and a matured product in the PLC; it is consumed in a very high level and has become a commodity in daily life. The marketing audit has identified that D-GSM has been targeting the same segment which are professionals/senior executive since inception their mobile services. This is a drawback for D-GSMs long term survival and its market leadership. Further competitors are able to manipulate this service and will lose its market share (Refer Appendix B; Appendix B- 4.0). The PESTEL analysis provides evidence that new potential segments are emerging such as entry level executives (1), undergraduates/students (2), travellers and businessmen (3). As result old segments are becoming outdated. (Refer Appendix B- 12.0). The below diagram illustrates the ability of D-GSM to cater and take necessary action for new segments (Refer Appendix B- 9.0). Figure 4.0 G.EMatrix Market Segment Attractiveness Unattractive Average Attractive Organizational Strength in positioning Weak Strongly Avoid Avoid Possibilities Average Avoid Possibilities Secondary Target Strong Possibilities Secondary Target Target Model adopted from (Business tools, 2007) The output of market segmentation matrix identifies the emerging new segment to generate more revenue and increase market share by repositioning the broadband (Refer Figure 4.0). Knowledge gap in customer preference Internet technology is continuously evolving and adapting to such changes is highly important to D-GSM. Continues adaptation to such technology and augmenting future technology is important for long term survival. The marketing audit explicitly specifies that D-GSM provides the core features of MBB to present customers. Further it is not providing the expected features or long term product augmentation of MBB (Refer Appendix B- 9.0). Referring to figure 5.0 clearly indicates gap between current feature offering of broadband and customer expectations. To fulfill this gap D-GSM needs to continuously evaluate customer expectation and adopt to provide new technologies to retain market leadership. 1.4 Conclusion of Critical Analysis Lack of information Knowledge gap in changing market Gaps in STP Potential New segments to target Deficiencies in the product portfolio 2.0 Recommendation Following recommendations are addressed below to overcome current drawbacks faced by D-GSM having critically analyzed using market audit. Recommendations are categorized to cater mobile-broadband and product portfolio management. 2.1 Recommendations for Mobile-broadband product Line Recommendation 1 Reposition Mobile-broadband Topic 1.3 above states that current segment targeted for mobile-broadband is declining. Following segments are identified as target audience who are students, travellers and undergraduates to be targeted to generate high revenue for mobile-broadband. Proposal in Detail Following recommendation is to reposition the mobile-broadband product line targeting new potential segments as the current segment is declining. This is also evident where 3 major UK telecommunication vendors has overall share of 30% mobile-broadband users as students and undergraduates affording on the go low-cost internet facility (Gabriel, 2011). Currently mobile-broadband is a cash cow product. Repositioning this product can help D-GSM to reach more customers and generate more revenue. Based on the proposed recommendation, following product forecast is analysed using net present value (NPV) analysis. Table 1.0 NPV Analysis for Mobile broadband reposition Year 1 Year 2 Year 3 Cost Cost of Product Reposition $ 20,000.00 Sales Forecast Do nothing to the product $ 120,000.00 $ 100,000.00 $ 95,000.00 Reposition the product $ 200,000.00 $ 250,000.00 $ 325,000.00 Incremental value $ 80,000.00 $ 150,000.00 $ 230,000.00 Cost of Sale at 10% of Sales revenue $ 8,000.00 $ 15,000.00 $ 23,000.00 Gross Profit at 40% of sales Revenue $ 32,000.00 $ 60,000.00 $ 92,000.00 Net Profit $ 24,000.00 $ 45,000.00 $ 69,000.00 Net Present Value Key Finding of NPV Analysis Return on Investment (ROI): The entire return on Investment on the repositioning the product will be fully recovered by the end of the first year. Forecasted sales performance: Repositioning the product will pave the way to the sales to increase notably. Nearly 67% increase in first year, 150% within two years and 200% within three years. NPV analysis indicates positive (+) result which mean reposition will be successful. The product can be expected to perform well in the market to gain more revenue and market share for Dialog mobile-broadband. Further D-GSM could follow the proposed product reposition process for mobile-broadband Further D-GSM could follow the proposed product reposition process for mobile-broadband Figure 6.0 Proposed product reposition process for mobile broadband product line To better position mobile-broadband D-GSM could adopt the following marketing mix to reach the newly identified segments since the current marketing mix for mobile broadband is outdated. Table 2.0- Proposed new marketing mix for mobile broadband product line Marketing Mix Description Product Product will be combination of value added service, Place Adopt intensive distribution strategy to reach new segments effectively Price Price penetration strategy will be targeted to avoided completion and gain ROI Promotion Promotional strategy will be high awareness using adverting in media and sales promotion to gain more user trials. Following perceptual map can be considered for the new repositioning strategy, 2.2 Recommendations for Product Management Recommendation 2 Appoint Product Management Team The present marketing structure is incapable of managing multiple product portfolios at D-GSM. This structure only focuses to cater existing product portfolio and provides low importance for NPD. Further, it is inefficient to support and manage more products by fewer staff which increases the existing workload. Proposal in Detail It is recommended to restructure existing marketing hierarchy to cater NPD, to conduct product management efficiently and reduce burden on staff of marketing department. This recommendation emphasises the creation of a product management team, which could be formed to better manage product portfolio for D-GSM. Below product team structure is recommended (Refer figure 7.0) Recommendation 3 Financial Resource Allocation to Product management Further to the critical analysis conducted it is understood low financial resource allocation as key reason for poor performance of product management in D-GSM. To overcome this issue more financial resource allocation has to be allocated for better product management in future. Proposal in Detail Following recommendation is to cater financial resource for product management team. Proposed financial resource will cater the team to conduct product portfolio management, new technology acquisition for product development, research development to introduce new products/service to market. It is recommended to allocate 10% of the annual sales revenue to facilitate product management team. The following financial allocation breakdown is proposed. Table 3.0-Proposed Financial Allocation breakdown for project management team Task Budget Allocation New Product development 45.0% Market Research 10.0% Acquisition/Upgrade of technology 20.0% Manage Existing product Portfolio management 15.0% Training on product management 10.0% Recommendation 4 -Implementation of Product Portfolio Management System (PPMS) In topic 1.3 identifies the lack of system and process in place to manage product portfolio and help senior management make strategic decision towards managing product portfolio as it consumes human and financial resources .This recommendation will highlight in implementing a PPMS for D-GSM. Proposal in Detail This recommendation is to implement PPMS for D-GSM. This system in place will help management make strategic decisions and allocate investments to individual products with the goal of optimizing the entire product portfolio. Also this system will provide a tool to maximize the performance of product portfolio in varies stages of PLC. The following system will help product management have a consistent view of product performance, products status in PLC, new product development pipeline progress, monitor product operation cost and more with product portfolio management. Further with the help of such system product development managers to align product roadmaps with market expectation and help to increase revenue, grow market share and reduce costs. Benefit for D-GSM by implementing PPMS Maximize the performance of D-GSM product portfolio PMSS in place will enable centralized management of product portfolio PMMS in place will enable product managers to align product roadmaps with marketing objectives to increase revenue, grow market share, and reduce costs PMMS will enable product management team gather historical information which is valuable information that will improve time to market of future products Recommendation 5 Expand Re-align Channel Distribution This recommendation will highlight in improvising the current retail management and introducing new retail partners for D-GSM to expand the channel distribution to compete with competition and in long term to penetrate Sri Lankan market. Proposal in Detail Proposed strategy of expanding the channel distribution to reach wider untapped market of D-GSM as competitors are aggressive in penetrating the market .This strategy will enable D-GSM to gain more consumers and boost profit through additional venues and expanding current channel distribution can be an effective tool to increase existing business for Dialog GSM. Benefit for D-GSM by Expanding Re-aligning Channel Distribution Channel expansion will cut down operational cost in every region and improve sales performance Current level of channel risk will be minimized and risk could be shared among many regional retailers Expanding channel distribution will help in brand building and make products available in more locations which will raise consumer awareness of D-GSM offerings. Recommendation 5 Implementation of Marketing Information System (MKIS) Further to the critical analysis conducted in 1.5 and 1.6 it is evident that there is no system and process in place to monitor dynamic market environment and consumer behavior, in current situation without a proper system in place D-GSM has not been able to understand consumer behavior and identify emerging segments and target potential new market. Proposal in Detail The following recommendation is to implement a MKIS. This system in place will help D-GSM to scan dynamic market environment constantly to make strategic decisions. Further this system will enable the marketing and product management team to analyze consumer behavior and act accordingly in competitive environment. In long term this system in place will enable the organization to be market oriented. Proposed key integrated feature of this system will be; Marketing intelligence Information Analysis Marketing research Internal Records The prototype of the proposed MKIS will be as shown in figure Benefit for D-GSM by implementing MKIS MKIS will enable organization to constantly monitor dynamic marketing environment Distribute marketing information within organization MKIS will enable to analyses consumer behavior, This will help D-GSM to better manage STP strategies for new products MKIS will facilitate towards product planning and control 3.0 Evaluation of Resource capability and Capacity Management 3.1 Introduction This section evaluates the resources and capability requirements to deliver the identified recommendations for product management of D-GSM. This analysis is based on drawbacks identified from the critical analysis and possible recommendations are proposed to re-align the current D-GSM resources and capabilities to desired level. 3.2 Analysis of current organizational capability and resource When conducting a project management in this scale it is important for D-GSM to evaluate current resource capability and capacity of the organization to deliver the recommendations proposed under heading 2.0. Further to evaluate the current strength of delivering the recommendations, a skill audit was conducted within marketing department against the expected skills and competencies required for the product management project (Refer Figure -9.0) Figure9.0 Marketing Team Current Skill vs. Expected Skill for product management project The skills audit analysis (Refer Figure 9.0) against the marketing audit (Refer Appendix B- 14.0 ) indicates there are lack of gap overall skills, therefore there is a need for skills improvement from external or internal sources which needs to be acquired to close the current skill gap. The marketing audit analysis indicates present marketing teams resources are limited and the current structure is incapable of managing the proposed project (Refer Appendix B- 5.0). Therefore it is recommended to recruit a new project management team to implement the recommendation made for D-GSM. To overcome the skill requirement a project management team can be formed from a cross functional basis of appropriate staff who will have relevant skills and knowledge to implement the proposed recommendation as a team. Further D-GSM could acquire required skill and expertise resources from external environment. 3.3 New Capability Resource required Provide Training in Product portfolio management Marketing team currently needs new skills in understanding the importance of organizational product portfolio management to achieve organizational objectives. By training the staff on portfolio management it will enable the marketing team to formulate effective product portfolio management strategies to cater dynamic market environment. Increase Financial Allocations for Portfolio Management To have an efficient product portfolio management more financial resource is needed to cater new product development. The current budget quota is insufficient for product portfolio management and therefore to implement the identified recommendations and to gain new capabilities and other needed resources which needs sufficient financial allocation for product portfolio management. Training on customer relationship management Marketing team is currently in need for training in customer relationship management. Currently in the highly competitive Sri Lankan telecom market relationship management with key customers, retailers and distributors are important to retain recurring business. By conducting such training D-GSM could retain customers to generate more revue for organization. 3.4 How to Acquire New Capability and Resource Internal Development Internal development refers to the changes that a firm undertakes by recombining its existing resources or developing new resources on its own (Capron and Mitchell, 2004). To acquire new capabilities at minimal cost marketing team along with human resource department could form an internal development team to provide key skill and mentoring to staff, this could be in the form of: Knowledge Sharing Session Internal Presentation One to One session Hiring External Consultant External sourcing means trading in a strategic capability that stems from external sources (Capron and Mitchell, 2004).The hiring of a consultant will help D-GSM in gaining external/industrial expertise on product portfolio management and enable the marketing team to build new strategies to increase performance for Dialog Mobile-broadband product line. Training and Development D-GSM could evaluate the option of on-demand training and development to cater highly critical skill and capability needs to manage competitive product portfolio to the market. Further D-GSM could follow the proposed model shown in Figure 10.0 to plan training development. Figure 10.0 Training and Development process Model Adopted from (Moskowitz, 2008) The Benefit of Training and Development Improved motivation Individuals see their skills base extending and their promotion prospects being enhanced. Opportunities for self-improvement, leads to people staying longer in one employment. Higher levels of performance Trained and motivated staffs are more likely to give of their best which in the end justifies the training budget. Recommendation for accruing new resource and capability The options discussed above to acquire new resources and capability to manage product portfolio for D-GSM is to hire external consultant to gain new ideas and industry expertise. Further hiring external consultant will help to reposition broadband product line effectively. Moreover, D-GSM needs to constantly identify new skill required for employers since marketing environment is dynamic and employees adapting to such changes instantly is important, therefor it is advisable to constant monitor required skill and plan to train and develop by external consultant. There is a high risk of outsourcing new resource and capability because it will create conflicts within internal employees and internal information could be considered as risk when outsourcing key resources from external environment 3.6 Financial Consideration Herewith financial proposal is addressed for future budgeting purpose to acquire new capability and resource to implement effective product portfolio management. Table 1.0 Financial Consideration for new resource and capability management Requirement Cost U$$ Budget allocation for annual Training and development program $5,000.00 Budget Allocation for Product Development and management $10,000.00 Budget allocation for hiring of External Consultant $5,000.00 Internal Development program $5,000.00 Total $25,000.00 4.0 Project Plan Introduction To the priority of recommendations provided above in topic 2.5, following project will focus to reposition mobile-broadband product line targeting newly identified segment with differentiated marketing mix and finally position the product as affordable product for consumers Project Initiation The following project is selected to increase the mobile-broadband. A stable project based approach is required. This therefore enables the management to monitor the manage performance, cost and time scales. Fore reference purpose this project will be named as Project 3G. Project Objectives The project objectives expected to be achieved by implementing project 3G are as followed, To successfully reposition Dialog Mobile-broadband product line To successfully create awareness to newly identified segments To increase mobile-broadband trial among new segments targeted To position the product to the new target segments using new differentiated value propositions within the period of six months. Project Scopeand creep The project scope refers to the work that must be accomplished to deliver the project objectives and successfully complete the project with quality, time and minimal cost (Hill, 2009). Project scope management will be used to make sure that project covers all the key tasks to deliver high efficiency of triple constraints [4] and focus of project. Further the management will resist and prevent scope creep as it will dent the achievement of triple constrains- budget, performance, and time as project creep could bring negative effects on the members (Kendrick, 2009). Therefore below matrix illustrates project boundary (Refer table 2.0). Table 2.0 Project Scope Matrix Project Scope Activities In Scope Activities Out of Scope Product Focus Dialog Mobile-broadband Other Products Time Duration Within 6 months July 1st 2011-December 30th 2011 Beyond December 30th 2011 Product Reposition Reposition Dialog Mobile-broadband Post reposition activities Channel Marketing Create awareness for retailers in Mobile-broadband reposition. Other products Advertising Campaign Channel merchandising for newly repositioned product Other Products Every project stakeholder must be educated about project scope from deviating. If there are any changes to the scope a request should be made to the project manager for consideration (Pritchard, 2004). Project Team The project manager will be General Manager- marketing and sales. He/she is selected for because of leadership skills and previous experience in handling similar projects. The key role of project manager is to manage the project team from initiation to evaluation stage, while leading and motivating the team towards achieving the objectives and clearly defining teams roles, responsibilities and performance, budget and time (Lock, 2007). The proposed project team structure is shown in Figure (9.0). The project team consists of seven members including staff from different department of Dialog GSM. This system will become a cross functional team for the project. Project Sponsor will be the Chief Financial Officer (CFO). According to Melton (2009), project sponsor is accountable for the delivery of the business case and to ensure that project is financially worthwhile. Project Managers and sponsors must work closely together to deliver the project and maintain control. External resources for the project team will be the outsourced marketing consultant and the advertising agencies key account manager for D-GSM for this Project. The consultant will guide the project team in implementing the project by providing training and in-depth guidance on product repositioning of Dialog Mobile-broadband. Furthermore, project manager will be responsible for driving the project team to achieve the project objectives by delegating the project tasks, proper resource allocation for the project through possible mediums and finally responsible to deliver project report for management. Project Beginning and end dates Project 3G will span for a period of 6 months and will be implemented from 1st of July 2011 till the 30th of December 2011. Project Key Deliverable Key deliverable of Project 3G could be highlighted in a work breakdown structure (WBS). The top of the WBS is the project itself. The next layer or level in the structure is work packages (Lock, 2007). WBS explains the key deliverables of the project in figure (10.0). Figure () Key deliverables for project 3G ProjectMethodology Project methodology adopted for project 3G is scalable methodology. The benefit of adopting this method allows the project to be more flexible for specific requirements such as time scale, budget and performance (Charvat, 2003). Therefore, by adopting this method project performance, budget and time period could be scaled down to a short term period. Further the project team could utilize Microsoft Project software to monitor the ongoing project activities of Project 3G. Project Limitation The major limitation are financial resources where current project 3G must be financed using additional funding apart from the annual marketing budget; time constrain where this project must be undertaken during the routine work for a period of six months. Therefore proper planning has to be conducted which will not harm the daily routine activities along with conducting the current project. Risk Management Project risk assessment and mitigation planning is also a key part of this project plan which is broadly reviewed in heading 5.0 Project Implementation Schedule Following GANNT chart in Figure () below illustrates the implementation schedule for project 3G Model Adopted from Project Task Sequence Task Sequence Diagram Resource Review Identifying resources required to complete the work of the project are the focus of resource reviewing process (Wysocki, 2004). The possible resources needed are people, finance and equipment. The resource reviewing process includes estimating what resources are needed, in what quantities and when. Resource availability may compromise project progress which needs to be identified and managed effectively throughout project life cycle. Following table (3.0) highlights the resource review for project 3G and acquisition process to fulfill the resource need Table 3.0- Resource Review acquisition process Resource Requirement Resource Availability Resource Acquisition process People Internal Resource Recruit intern employees from relevant department needed for the current project as per project team proposed in Figure Staff acquisition request will be send to HR department and Department Manager to release relevant staff for the project External Resource Marketing Consultant will hired to assist the project 4-6 External Consultant will be screened with relevant experience to fit into this project and hired based on their previous experience and skills Facilities New project department with furniture and boardroom facilities with projector. New Facilities requirement will be requested to Human resource manager with approval of project sponsor Finance Allocate Project Finance of U$ 33,000.00 Request for fund release to execute t project 3G From project sponsor Technical Infrastructure Computer facilities project team members with internet connectivity and implementation of Microsoft project server to monitor project progress 5-7 Vendor quotation will be evaluated and best price with high service vendor will be selected to purchase the needed technical infrastructure via purchasing department Model adopted from (Schwindt, 2005) Personal Requirement This project requires personnel from different departments such as IT, finance and human resources with following skills marketing, advertising, sales, research, finance, administration and IT. Table 4.0 highlights the key personnel required for the project team who addresses the key responsibilities and time allocation. Table 4.0- Personal Requirement for Project 3G Team Member Time Allocation Key Responsibility Project Manager 100% To Overlook project team activities, Manage resources and take responsibility for project performance External Consultant 100% To consult the project team with Product repositioning plan and guide for project success Key Account Manager (Advertising Agency) 50% To coordinate with Project team to create advertising campaign for repositioned Mobile-broadband product Finance Manager 20% To help project manager in utilizing project budget and monitor project costing Project Team admin 40% Coordinate routine work of project team , arrange communication and manage administrative task IT Executive 40% To help project team with relevant IT infrastructure Project Termination The project 3G will be terminated if the desired outcome is successfully achieved. On the other hand, the project could be also canceled prior to the achievement of project objectives. Following possible criteria could be considered to review termination of Project 3G Table5.0 Project Termination Criteria Termination Evaluation Criteria Possible Tools for evaluation Possibility of economic / technical success Market Research , Profit Loss analysis, Value analysis Return on Investment /Profitability/Market Potential Market Research , Profit Loss analysis, Value analysis Growth in project expenditure Budgeting , Expenditure variance analysis Changing competitive environment/Market/Customers Marketing intelligence Technical Issues Poor IT competency in organization Competing project within organization /Department investment performance analysis, Organization project reviews Project Delays Project Implementation plan analysis Model adopted from Dean (1968), Cited in McKee et al. (2009) Financial Consideration Estimated financial proposal is shown below based on objective and task budgeting method. Table 6.0 Financial Consideration for Project 3G Description Cost Project management team building activity $ 1,500.00 Hiring marketing consultant $ 5,000.00 Hiring of Advertising Agency $ 8,000.00 New project team office $ 4,000.00 New project management software implementation $ 2,000.00 Purchase of personal computers and servers for project team $ 6,500.00 Administrative Cost $ 3,500.00 Other Expenses $ 2,500.00 Contingency Expenses $ 4,500.00 Total $ 33,000.00 Project Monitor and Control Project monitoring and control should be a continues process during the entire project to maintain an efficient and effective workflow throughout the project progress (Cooper et al, 2005). Project manager will conduct review with the team which is explained below. Review Meetings Every Monday of the week the project manager will conduct meeting to review the project progress against the scheduled deliverables. Project team will use the following agenda for the project meeting scheduled every week. Description of the development of project tasks Budget, time management and performance evaluation Project related risk issues Project performance Project team could utilize a project dashboard integrated with traffic light system (TLCS) to monitor current status of project and enable the team to make decisions. Further monitoring can be done through progress check and variance analysis. Progress check will be used to monitor time related activates (Refer Gantt Chart) and variance analysis to monitor KPIs of Project 3G. Project Dashboard Project dashboard will be used constantly monitor KPI time, budget and performance, which could be evaluated using the TLCS. The task is evaluated against the deadline of the key tasks scheduled (Refer Gantt chat). TLCS monitor and control the project in the manner which is indicated task, KPI. Figure 10.0 below illustrates TCLS Figure 10.0 Examples of TCLS Task KPI Percentage Complete New Channel Distribution Appoint 25 New distributors 25% 50% 100% A task will be preceded only after successfully completing the earlier task which lays a foundation for the following tasks. Green signal will provide the sign for project team to move to next task. This method acts as a possible monitoring control mechanism. Further activities indicate in red and amber. TLCS help evaluate and take corrective action for proceeding. In each review meetings a report will be produced and forwarded to senior management informing the current progress of the project 3G. Project Evaluation Project evaluation will be the final activity of Project 3G evaluating the success/failures of the project. Project 3G will be evaluated by compiling of a project report to the organization as a guideline for future projects. Project evaluation will be conducted against the achievement of project objectives identified before highlighting key activities under taken to achieve the project objectives. Project Report will include the following details Project team Selection Training and Development of project team Reposition of Dialog Mobile-broadband Creating successful awareness to new segment Risks identifications for Project-3G Review and Control for Project-3G 5.0 Risk Management 5.1 Introduction Risk is key part of project process, it is important for project team to identify, assess and mitigate the risks as they may cause delay in achieving project objectives. This section of the report provides guidelines about risk management by identifying the likely risks associated with the proposed Project-3G and plan to prioritize and mitigate such risks. Gardiner (2005) highlights risk management that can be divided into two phases: risk assessment and controlling risk. Project team identifies, assess and control risks to adopt below process to overcome the identified risk (Refer Diagram 11.0). Figure 11.0 Proposed Risk Management Process for Project 3G Model Adopted From (Chapman and Ward, 2003) 5.2 Risk Identification This will be the initial phase of risk management process. In this phase project team will assess the possible risk which could occur in terms to Project-3G, therefore, following risks identification methods will be utilized to assess the possible risk Brainstorming Sessions In this session, members brainstorm the likely sources of risks and types of risks. This method enables all the members to contribute ideas from their perspective and experience in previous activities. Team Briefings The project manager will brief the possible risk and make the project team is aware of possible risk and proactively involve the team members towards risk identification process. This will be specially aimed at identifying risk while brainstorming session also will help to solve such risk issues. SWOT Analysis SWOT analysis enables the project team to identify the risks, which will emerge from the internal and external environment. 5.3 Risk Assessment Risk Ranking The risks are identified and ranked will be eliminated to complete the project successfully. Table 7.0 Risk Identification and Risk Ranking No. Risk Identified Identification method Risk Level Impact Level Score 1 Personal Availability Team Briefing 2 3 6 2 Delay in Mobile-broadband reposition Team Briefing 3 3 9 3 Existing Distributors and Retailers Leaving Risk Reviewing 3 3 9 4 Delays in resource acquisition Team Briefing 3 2 6 5 Member Conflicts Team Briefing 2 3 6 6 Poor Performance Team Briefing 2 2 4 7 Top Management Interference Team Briefing 2 2 4 8 Lack of team co-ordination Team Briefing 2 3 6 9 Inadequate Financing SWOT Analysis 3 3 9 10 Lack of Information SWOT Analysis 1 3 3 11 System Failure Risk Reviewing 2 3 6 12 Role Ambiguity Team Briefing 1 1 1 13 Scope Creep Team Briefing 2 3 6 14 Time Elapsing Team Briefing 3 3 9 15 Consultant Lacking Motivation Team Briefing 3 2 6 Risk Assessment Table 7.0 explains sources of risks are assessed in the form matrix. Following risk assessment matrix will be used to categorize the risk and plan accordingly (Refer Diagram 12.0). Scale: 6 9 critical risks would impact the project adversely (high priority) Scale: 3- 4 medium level risk (controllable) Scale: 1- 2 low risks and will be overlooked (low priority) Risk Assessment Matrix Impact Low (1) Medium (2) High (3) Probability Low (1) 1 2 3 Medium (2) 2 4 6 High (3) 3 6 9 Model adopted from (Mind tools, 2007) Evaluating risk assessment matrix, it is evident that internal factors have derived the most critical scores because it is a short term project. The analysis indicates; resource, capability issues, and proper project planning and communication which are drawbacks ranked as the most critical. Lock (2007) suggests it is useful to categorise risks which could occur in different phases of project life cycle to correctly set the risk control mitigation processes upfront. Further to his statement the following table is prepared and categories risk in project life cycle (Refer table 8.0) Table 8.0- Possible risk in Project life cycle Project Life Cycle (Stage) Risk Initiation Inadequate resource funding and top management interference. Planning In-proper feasibility study, Inadequate planning resource allocation resource. Execution Project team conflicts, team member leaving, Poor performance, Lack of coordination, Inappropriate information, Role ambiguity within project team, project scope creep, Consultant lacking motivation. Final Improper planning of prject implementation Further analyzing the risk factors in project life cycle, Risk identified in the initial stage will have to be fully mitigated by the project team and risks expected in implementation and final stage has to be mitigated as an overall team effort. Most critical risks summarized above will emerge from the internal environment and will threaten to the achievement of- performance budget, and time. 5.4 Risk Mitigation Risk mitigation section of this report provides guidelines to control mitigate the risks identified above and conduct risk assessment. Following risk mitigation process includes risk response planning, re-solution and finally risk monitoring and control Project team could utilize the following risk mitigation method to overcome risk on time for effective implementation of Project 3G Contingency Planning Contingency plan will address different course of actions which has to be taken by team if a prioritized risk occurs. This plan will include alternative set of task, resource allocations and alternative timeline for project task (McKee et al 2009). Table 9.0- Risk Mitigation Plan Risk Mitigation Approach Personal Availability Backup staff needs to be planned upfront to mitigate conflicts in personal availability Delay in mobile-broadband reposition Activities have to be highly monitored against the deadline, any delays out sourcing can be done to mitigate delays in launching the reposition product Existing Distributors and Retailers Leaving Appointing new retailers can harm relationship of existing retailers as channel conflict , there for proper communication and new partner program needs to be addressed properly Delays in resource acquisition Monitor purchasing requirement constantly and updating the relevant department upfront Member Conflicts Proper team development needs to performed and mentoring by the consultant/project manager. Poor Performance Motivate the project team staff and encourage their performance for better implementation of prject-3G Top Management Interference Top management needs to be constantly informed of on the project progress stating the importance of product management Lack of team co-ordination Internal marketing and transparent operations Inadequate Financing Allocation of $ 4,500 is made a contingency budget for the project Lack of Information Establishment of CRM, product management system, MKIS system and new processes System Failure Establishment of continues data backup and security Role Ambiguity Proper delegation of team role and address individual responsibility by the project manager Consultant Lacking Motivation Proper constant interaction and communication needs to planned to get the most from the consultant Time Elapsing Allocate additional month as a contingency plan for time Scope Creep Proper establishment of in scope document briefing the team members on the project boundaries Scenario Planning Scenario planning could be used as effective tool to overcome risk identified above. With the help of project team different scenario planning could be drafted develop to mitigate the risks. By conducting scenario it could help the team adapt any changes that could occur and mitigate the risks at different stages of project life cycle? Accepting the Risk It is important for project team to accept the risk level to better plan mitigation approach; furthermore possible risk acceptance will be important in facing internal and external environment emerged risks such as the changes in consumer behavior and wider macro environment. The high level of risk taken will return higher benefits for the project team. Sharing the Risk The risks identified for the project can be shared among the project team members in-charge to overcome the issue. This allows the project team to have clear sub division of risk into manageable levels of risk rather than tackling the risk without improper risk planning. Sharing the risk among team members and management relevantly allows the risk to be managed properly. Following Table 10.0 will highlight the Risk reviewing action planning and team responsibility to eliminate risk identified above in Table 2.2 Table 10.0- Possible risk in Project life cycle Risk Identified Action to be taken Responsible Person Personal Availability Plan for staff backup Project manager Delay in Mobile-broadband reposition Monitor progress and plan for alternative activities Product manager Existing Distributors and Retailers Leaving Plan for existing retailer communication program Brand manager Delays in resource acquisition Overlook acquisition progress and allocate finance on time Project Manager, Finance manager Member Conflicts Communicate staff role in project 3G Project manager Poor Performance Motivating team and identifying needed skills Project manager Inadequate Financing Allocate finance on time Project Sponsor System Failure Plan for data backup and security IT executive Scope Creep Distribute project scope activities Project manager Consultant Lacking Motivation Constantly communicate with external consultant Project manager 5.5 Risk Monitoring and Controlling This process of identifies, analyze, plan and control to manage risks. Elyse (2007) suggest constant risk monitoring and due diligence is key to the success for better project management. Throughout the process, the risk owners are responsible for identified risk and implement risk response plans. Risk Monitoring Effective risk monitoring is important and it will allow project team to properly overcome risks timely manner. To monitor risk effectively a systematic ongoing approach is important to put in place by project manager. Further the use of review meeting will allow the team to risk monitoring and control. Moving forward documentation of current level of risk occurred against the expected risk level will provide a possible solution for the project team to manage risk on time. Risk Controlling Final phase of risk management process is to control and manage risk in project management, Training To control risk effectively and to overcome risk D-GSM needs to train the project team to identify, manage and mitigate risks. Risk training for team members should be prioritized by project manager. Further this training program should improve skills to manage and mitigate risk and this tool should be managed as a continuous process. Leadership and risk culture The project manager should have leadership quality in managing risk and motivating employees to manage risk, further project manager should be able to implement a risk managing culture within employees to motivate to achieve project goals successfully. Risk Log A risk log mostly used in project management to update the risk incidence and will help the assessed risks. The risk will be updated as and when it is identified. Moreover, recorded risks will be used for future reference. This log will be maintained throughout the project life cycle. 6.0 Operational Implication for Not Implementing Proposed Recommendation It is important for management to alternatively evaluate implication of not implementing the proposed project. Direct and indirect implications could be expected by not implementing the proposed project. Direct implications are mobile-broadband product decline, loss of revenue and market share, while indirect implications to current product management which will harm the organization market position, organizational reputation and impact on other products. 6.1 Direct Implication for Not Implementing Project 3G Loss of Revenue Dialog mobile-broadband accounts to 20% of organizational revenue in 2011, Further should product decline as per the forecast revenue contribution will impact 20% loss in 2013 financial year Table Do Nothing Year 1 Year 2 Year 3 Sales Forecast Do nothing to the product $120,000.00 $100,000.00 $80,000.00 Total Cost of Sales at 40% of Incremental Sales revenue $48,000.00 $40,000.00 $32,000.00 Gross Profit at 60% of Incremental Sales Revenue $72,000.00 $60,000.00 $48,000.00 Present Value (at 10%) $65,454.55 $49,586.78 $36,063.11 Key Findings of NPV Analysis The trend of sale of DO NOTHING shows the risk of the product will decline to half in year 3 and to zero in year 6. So it reveals the importance of periodical repositioning of the product. Product Decline If this product (Mobile-broadband) is not repositioned by 2012, D-GSM could face product decline. This could damage the goodwill and loose its leadership. Loss of Market Share This product has the potential to increase present market share. STP strategy for this product is currently outdated thus leads this product to decline the market share. The marketing audit (Refer Appendix B -), declining trend of market share is forecasted in the following diagram. 6.1 Indirect Implication for Not Implementing Project 3G Loss of Market Leadership D-GSM is positioned as a market leader in telecommunication sector for introducing new products and services to market. Further poor product management and decline profitable of mobile-broadband offering of D-GSM will tarnish the image of being a market leader among stake holders will have an adverse effect over the organization. Organizational Reputation D-GSM is a well-known organization for introducing innovative technology in telecommunication sector, Poor efficiency in product management will not enable the organization to introduce products and manage existing product, Therefor by not implementing the proposed recommendations D-GSM could lose reputation of being an innovative telecommunication vendor in the industry. Impact On Other Products Implementing the proposed recommendation is important have better product management within the organization, by not implementing a PPMS product management team will face problems with regard to inappropriate resource and financial allocation to the overall product portfolio where in long term it will face problems to the organization. 7.0 Conclusion In Conclusion, this assignment emphasizes the importance of training and development and additional financial allocation for product management. Further this report suggests guidelines for project team to execute and mitigate risks which could arise for the proposed project. Risk mitigation flowchart is recommended. Critical analysis highlights recommendations for product repositioning of mobile-broadbandto increase product performance and suggestions to improve product management by implementing product management team, product portfolio and finally marketing information system. Based on the recommendation, mobile brand reposition was considered for the current project. Costing tools such as NPV analysis is used to evaluate the investment appraisal. From this analysis key finding suggests reposition will pay back the entire investment within first year. This analysis proposes the significance that by not implementing this project, mobile-broadband product line could decline in seven years time. This reveals importance of repositioning of the product.

Whats a Disney Writing Project?

What's a Disney Writing Project?Disney writing projects may not be new. There are a number of kids' cartoons where Disney characters are used. Most of these kids' cartoons, however, are not cartoons in their original form.Disney writing jobs can involve anything from writing a description of a fictional character to creating a script for a live-action film. It is possible to create storyboards for the animation.Writers often choose to specialize in writing about Disney. This may be because the type of writing they enjoy is based on the classic Disney movies or because they have specific training in this type of writing. Often, writing projects require some background in animation.Writing projects will also require more research and documentation than writing for other purposes. Disney writing assignments can last a long time as they are difficult to produce quickly. It is best to have a professional work on the project to make sure that the Disney characters and plots are well-define d.Young children love Disney movies and it is a task to encourage them to read the screenplay. These stories are very colorful and full of bright colors. Even for older children, these stories are vivid and inspiring.Writing for Disney is a great way to get your creative juices flowing. The characters are super and entertaining. The scripts are exciting to write. The artistry behind the animation is fascinating.Disney writing jobs can be adapted into books, DVDs, web pages, newsletters, blog posts, and videos. It is possible to write for these media without having to write for live-action films. You can create a biography or interview with a famous Disney character. You can also adapt a book into a movie and produce asequel to the original book.Disney writing projects are becoming more popular. It is important that you find a professional that is experienced with Disney. Research is essential so that you know what you are getting yourself into. A Disney writing project can be a lot of fun if you do your research and get to know the professional that you are working with.

How to Write an Expository Research Paper

How to Write an Expository Research PaperAn expository research paper is often a great source of education for individuals who are attempting to make a difference in their career or the sector in which they work. But just how do you go about creating an excellent one? Is there any common sense technique that will help you create an excellent and fully comprehensive research paper?The answer to this question is yes, there is indeed a specific way in which you can go about writing an expository research paper. Although this might seem obvious, most people who write these papers will probably not have a great deal of experience in the area of research papers. For the most part, they'll be looking for an easy way to get the information out to their readers.This is of course a very important part of any written piece and does require some method to its own. If you're going to be writing a research paper for a university, then you should really have a good idea of what this will entail. Th e length of your essay is dependent on what the requirements are of you and your school. Also, depending on the subject matter of your degree, the requirements might be different from other courses.Whatever it is that you choose to do, the actual composition of the essay is going to change greatly depending on what you want to achieve. It's always a good idea to make sure that the material you use for your research paper is sourced properly. This will help to ensure that the essay is really about what you intend it to be about.It should also be noted that in order to prepare an expository research paper, you must first study the material that is used in the essay. Whether you study a primary research material or if you do an additional reading is not critical. In fact, it's very likely that your dissertation committee will be not be able to understand the piece if you do not have a solid understanding of the materials that are covered in the essay.Research should be used to provide you with the information you need to be able to speak well on that topic. Most people who write expository research papers will begin with information about the author's field of expertise. This is the material that will get them a good sense of their own knowledge and help them to organize their research material.The last thing that you need to keep in mind when writing an expository research paper is to write in an extremely clear and concise manner. There is no way to prepare yourself for the topics you will cover so you'll need to make sure that the information you present is easily understood by those who read your piece. Of course, it's easy to overlook the importance of clarity in this kind of paper, but it can be very difficult to correct your mistakes later on.In summary, an expository research paper is a great way to build a solid reputation within your field. It's really all about knowing what you're talking about and then taking that information and making it as clear as possible. The knowledge and the skills that you develop through your research are going to help you form your future as a writer.

Is It Illegal For A Child As A Form Of Discipline Essay

Is it illegal in Australia to slap or smack a child as a form of discipline? Should it be? In Australia it is legal to smack children as a form of discipline, however this is something that should be seriously looked at, as it can lead to severe consequences, such as psychological damage, through parents abusing their children. On the other hand, there is a need to discipline children, but this can be achieved through alternative punishments, rather than parents resorting to a scornful slap. The common idea in this country is that, it is okay to smack children as a form of discipline, however this brutish idea needs to change before more instances of child cruelty are brought to light. The idealistic approach to smacking in this country is that parents are entitled to resort to corporal punishment when attempting to discipline their children. Anonymous (2006) ‘The Australian Childhood Foundation says it s been shocked by its new survey that shows almost 70 per cent of parents’ support smacking their children. Almost half the 750 adults surveyed believe it s reasonable to smack hard enough to leave a mark.’ In an Australian legal context, the Australian institute of family studies (2014) website states: ‘The criminal defence of reasonable chastisement used by way of correction exists (or has existed) in many countries. Such a defence allows a parent or person acting in loco parentis (that is, in place of a parent, for example, a teacher, carer or guardian) charged withShow MoreRelatedSmacking Essay863 Words   |  4 Pagessmacking their child should be illegal. Smacking children, in our modern society, is nothing but an ineffective form of discipline. It is actually a violation of the human rights of the child. Furthermore it has potential to cause intellectual and physiological harm towards the child. My first argument towards making smacking illegal is the fact that smacking is simply not an effective form of punishment. Many parents see smacking as the only method to convey there message and discipline. But the realityRead More Parent Support Groups Can Reduce Child Abuse Essay1288 Words   |  6 Pagesproperly teach and discipline their children. As a result, out of pure frustration, parents lash out physically and/or verbally. Hitting a child or yelling at one has detrimental long-term effects. Parents-to-be need to be given strategies for dealing with discipline issues. Support groups should also offer parent training. When parents have had a hard day, whether due to work, family, or other persons or events, they tend to lash out without a thought at the misbehaving child. The parent lets hisRead MoreShould Child Discipline On A Physical Level?1462 Words   |  6 PagesIs it illegal to slap or smack a child as a form of discipline? Should it be? With the changing of times questions are being raised whether or not smacking or slapping a child is right or wrong by todays standards, This essay is going to argue why child discipline on a physical level should not only been illegal but why the country as a whole needs to ban it. As of the current point in time there are currently no laws making slapping, smacking or striking a child â€Å"illegal†. The only law that isRead MoreShould We Ban Smack Essay1059 Words   |  5 Pagesguys for one question: Have you ever got smacked by your parents when you are a little child? If you have, please put your hands up. Alright, it seems everyone has been smacked before, so have I. A black and white picture of a cross father spanking a little boy who is crying on his knees could be described by people as the â€Å"bad old days†. Disciplinary action such as a smack on a child’s bottom is not illegal in Australia and it’s now viewed as â€Å"barbaric†. As a result, children get hurt. Many ofRead MoreIs Discipline A Child Abuse?969 Words   |  4 PagesIs Discipline Child Abuse? What does the word child abuse mean in your own words? Some people believe child abuse includes neglect, punishment, physical or emotional maltreatment. Child abuse is all over the world. Every day a child is either abused or neglected. Since the late 1900’s child abuse was commonly used in the United States (Gale). Now it is slowly coming to its ending point. Since 1992, only two states, Delaware and Oklahoma, have experienced consistent increases today. Is disciplineRead More Spanking Your Child is NOT Necessary Essay703 Words   |  3 PagesSpanking Your Child is NOT Necessary Spanking your child has created a firestorm of debate among parents and non-parents alike. There appears to be only two sides to the argument, those for and those against. Each offers evidence to support their case, and both sides are fervent in there beliefs. There are many parenting books, classes, and articles on the internet to help people through the process of becoming a parent. Each has there own take on discipline, but most I have read are againstRead MoreThe Controversy Around Corporal Punishment1257 Words   |  6 Pagescords, smacking, and etcetera. Those who are in favor of corporal punishment and believes that it should not be illegal, uses scriptures from the bible as justification. Supporters of corporal punishment feels as if spanking is an effective way to manage behavior. Those who are against spanking points out the negative, psychological issues, and mental disorders associated with whipping a child. This issue matters and is important to comprehend because sp anking can lead to physical abuse, affect self-esteemRead MoreWhen Does Discipline Cross the Line to Child Abuse?1486 Words   |  6 PagesWhen Does Discipline Cross the Line to Child Abuse? In this report, I concentrated my research on the fine line between physical discipline and child abuse, with emphasis on spanking vs. not spanking and its effects on children. Included are research from statistics, opposing views and arguments, advocates’ and Department of Children and Families’ position. The use of corporal punishment, or spanking, as a form of parental discipline is a controversial topic. Adults who remember being spankingRead MoreDiscipline And Abuse By Ray Rice And Adrian Peterson972 Words   |  4 PagesDiscipline or Abuse? A Thin Line Revealed A thin line exists between discipline and abuse, but where is it drawn? Ray Rice and Adrian Peterson are two individuals who might have just crossed it. Most people agree that Ray Rice, who punched his fiancee in the face, knocking her out cold, committed a crime. How is it, then, that when Adrian Peterson whips his four-year-old son with a switch, it is considered an â€Å"acceptable† form of discipline? Throughout this essay, I wish to explore how people oftenRead MoreDiscipline And Abuse By Ray Rice And Adrian Peterson972 Words   |  4 Pages Discipline or Abuse? A Thin Line Revealed A thin line exists between discipline and abuse, but where is it drawn? Ray Rice and Adrian Peterson are two individuals who might have just crossed it. Most people agree that Ray Rice, who punched his fiancee in the face knocking her out cold, committed a crime. How is it then, that when Adrian Peterson whips his four-year-old son with a switch, it is considered an â€Å"acceptable† form of discipline? Throughout this essay, I wish to explore how people

Oligopolistic Market Competition in Australia-Samples for Students

Question: Discuss about the Monopoly, Duopoly Oligopolistic Market Competition in Australia. Answer: Introduction Many businesses in Australia operate under imperfect competition. By imperfect competition it means that the market prices are not determined by the supply and demand forces. Oligopolistic, monopolies and duopolies market structure are price makers. In oligopoly market, the players are few and large in size; whereas there may be many small players in the market, there are few giants who control the largest market share (Irvine, 2010). The competition between the giants is in terms of output but sometimes on prices. The power of control possessed by these giants creates barrier to entry for other interested investors (Strong, 2016). They may do this by cutting their prices and thus making it less profitable to entrants without the economies of scale (Dimech, 2014). The giants maintain a constant behavior of monitoring their rivals behavior as it has a great influence on their performance. This is because the goods sold in this market are similar but differentiated; if a rival lowers its own price, it may attract many customers and increase its share of the market. To prevent losing the market share, all other firms follow and cut their prices. Contrary, when a rival raises its price for goods, it will lose its share of the market since the other firms do not follow. The description of this market structure will be of help to the business investors to identify their market structure and thus facilitate their pricing decisions wisely. The government will also establish the factors responsible for the existence of oligopoly markets and their negative impacts; solutions will be recommended. Analysis Stephen Letts the ABC new business reporter is the writer of the article NBN to entrench broadband oligopoly: analysts in 2016. The major oligopoly groups are noted to be the supermarket giants, the banks and the telecommunication industry (Kaye and Westbrook, 2016). Also some of the giants are noted to be operating in a duopoly market structure. The returns raised by oligopolies are very high. The Australian economy has for long been an oligopolistic economy; however, the good days for the giant businesses are coming to the end as many firms are entering the oligopoly markets (Padley, 2013). This will result in a declining returns to the giants as the new entrants gain a share of the existing market. The entrance have been enabled by the Australian Competition and Consumer Commission's (ACCC) shift to industry structure and market rather than policy pricing employed before (Letts, 2016). The oligopolies are crumbling, however, there is a high possibility that an oligopoly will be bu ilt in the telco market as Telstra the quasi-monopoly market is breaking down. The article notes that the roll out of National Broadband Network will create a room for four players only. The entrance of new firms into the broadband industry according to Morgan Stanley the Telstars analysts is that each additional firm will result in declined revenue for the already existing firms. Telstra has been legendary in making 80% of the broadband industry total revenues; this left only a 20% revenue for all the other players. The breakdown has resulted in Telstras market share falling by 20% to 60%. This has raised the proportion of revenue left for the other players. The four major players in the broadband industry are; Telstra, TPG, Optus and Vocus. According to Smith (2015), the aggressive growth of Vocus and TPG has contributed to the shrinking of players in this industry. According to Parkinson (2016), main emphasis of ACCC is on the need for increased competition in the Australian markets; a need to eliminate the dominance of a few firms in an industry. The percentage of market share for TPG in the retail market is about 27% while that of Vocus is 8%. Morgan Stanley noted that if the smaller firms are able to offer cheaper products, they would lower the dominance of the giants. Despite the fact that ACCC is struggling to end the oligopoly dominance, Telstra breaking down to an oligopoly is better than being a monopoly. Recommendations The governments regulation and monitoring of oligopoly firms should be maintained always as without regulation these giants can exploit the consumers. The government should give the ACCC mandate to take to court all the businesses that are caught practicing uncompetitive market conducts. Its not all the market structure that can become competitive, however, its the governments responsibility to ensure that fair pricing is maintained by all businesses. The government should also ensure that it makes it attractive for international firms to invest in Australian; one way would be by changing the Australian tax structure to be more supportive to investment. Conclusions Oligopolies and monopolies have one thing in common, they are price makers. For this reason, they are inefficient and unfair to consumers. They may collude to charge higher prices which is a disadvantage to the consumers, or they would slash their prices to create an entry barrier which is a disadvantage to new entrants. Consumers benefit much when the firms decides to create a market barrier by slashing prices. This barrier is a way of discouraging increment in competition and thus it enables the giants to charge high prices thereafter. The primary objective of the ACCC is to promote competition in the Australian markets. So far it can be said to have achieved this objective as many oligopolies dominance have been reduced in addition to Telstra breaking down from being a quasi-monopoly to an oligopoly. At the current trend, there is still an increasing probability that Australian broadband industry is going to be more competitive. The Australian consumers and suppliers are happy with the actions of the ACCC. The lower number of firms in an oligopoly market not only negatively impact the consumers, but also the suppliers. Suppliers market is limited and thus sell at a lower price the giants offer References Dimech, A. (2014). Australian Oligopolies. [Online] Adonline.id.au. Available at: https://blog.adonline.id.au/oligopolies/ [Accessed 18 Aug. 2017]. Irvine, J. (2010). Get out of monopoly free cards can't be left to the roll of the dice. [Online] The Sydney Morning Herald. Available at: https://www.smh.com.au/federal-politics/political-opinion/get-out-of-monopoly-free-cards-cant-be-left-to-the-roll-of-the-dice-20101026-172ax.html [Accessed 18 Aug. 2017]. Kaye, B. and Westbrook, T. (2016). Australian watchdog says bank 'oligopoly' needs more reform. [Online] Reuters. Available at: https://www.reuters.com/article/us-australia-banks-idUSKCN12E0F3 [Accessed 18 Aug. 2017]. Letts, S. (2016). NBN to entrench broadband oligopoly: analysts. [Online] Abc.net.au. Available at: https://www.abc.net.au/news/2016-04-08/nbn-to-entrench-broadband-oligopoly/7310228 [Accessed 18 Aug. 2017]. Padley, M. (2013). Oligopolies as safe as money in the banks. [Online] The Sydney Morning Herald. Available at: https://www.smh.com.au/money/investing/oligopolies-as-safe-as-money-in-the-banks-20130916-2tvlk.html [Accessed 18 Aug. 2017]. Parkinson, G. (2016). South Australia takes on energy oligopoly in push for more renewables. [Online] RenewEconomy. Available at: https://reneweconomy.com.au/south-australia-takes-on-energy-oligopoly-in-push-for-more-renewables-77115/ [Accessed 19 Aug. 2017]. Smith, M. (2015). The death of the oligopoly: Australia's incumbents face new rivals. [Online] Financial Review. Available at: https://www.afr.com/brand/chanticleer/the-death-of-the-oligopoly-australias-incumbents-face-new-rivals-20150421-1mq11b [Accessed 18 Aug. 2017]. Strong, P. (2016). Why Australias love affair with oligopolies needs to end. [Online] SmartCompany. Available at: https://www.smartcompany.com.au/business-advice/legal/why-australias-love-affair-with-oligopolies-needs-to-end/ [Accessed 18 Aug. 2017].