Imagine that you have an online business that you use to recruit potential emplo
ID: 397244 • Letter: I
Question
Imagine that you have an online business that you use to recruit potential employees for a network of businesses and organizations. While conducting research, you noticed that your competition is the local newspaper and an online site called “Job Finder.” In a three-page (minimum) essay:
Analyze your business’ structure according to Porter’s five forces model.
List your potential competitive strategy.
Describe the primary value chain activities relating to your business.
Describe a business process for recruiting potential employees.
Describe information systems that could be beneficial to your business. Why are they beneficial?
Explanation / Answer
Porter's five forces of model helps the businessmen and organizations to have profitable outcomes by giving the knowledge about the financial structures as well as the policies and strategies of other companies in the market. As we know that, nowadays there is a tough competition around the market. Due to which many organizations indulge in playing the important role in analyzing the facts and figures of their competitors to know about what to do with their policies and strategies in order to earn higher profits. Porter's model define many of the attributes such as:-
To analyze business structure of the online shopping website according to the porter's model it is very much important to understand the attributes of Porter's model in order to compete with rival companies which are trying to compete with us by earning higher profits.
COMPETITIVENESS
It is necessary to analyze the intensity of the competition in the market so that it becomes easier to know about the initiatives taken to know what services to be positioned in the market and which group has to be targeted first in order to compete with our rivals.
BARGAINING POWER OF SUPPLIERS AND CUSTOMERS.
As it is very much necessary for each and every type of business to have lot of suppliers and customers in order to have more options and choices. In case of suppliers, it helps in reducing the logistics as well as overheads’ costs. And in case of customers, we can offer them any of the item at any price so that they can have freedom of choice. As we know that in online shopping a customer is free to skip the items according to their choice and their budget.
THREAT OF NEW ENTRIES
It is very much difficult to analyze the strategies and policies of the new entrants in the market because they came in the market with new ideas and innovative techniques in order to cope up with new generation and new modern demands of the market.
THREAT OF CLOSE SUBSTITUTES
It is the most common threat faced by each and every company in the market that is many companies provide same type of services like us. Due to which potential customers can skip to them for better services if there are some flaws in our venture. To cope up with this issue we have to launch some new products or to reduce the prices of closely related products to attract those potential customers.
The primary value activities of my business is to provide better quality products to the customers and also provide high quality of services by recommending our top helpers’ contact details. And also provide customers the access to make choice regarding the shopkeepers from whom they want to shop.
The process for recruiting employees includes sourcing as well as screening which is necessary to accurately shortlist the candidates before the client is positioned. It consist of all types of hiring because it is also called as end to end process.
With the help of information system we can maintain our employee relations and it also contributes to add the value to the recruitment and selection process. Our information system also helps us to know about all the threats approaching to us such as competitive rivalry, close substitutes, new entrants, etc. It also serve as a great tool for the employee’s training, learning and development. And also helps us to know, what strategies are to be conducted to have effective human resource management and human resource development.