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MOVING A COMPANY FORWARD

MOVING A COMPANY FORWARD. Team 2 Project. WRITING A BUSINESS PLAN. Why C f MC Why the Business Plan Far beyond the scope of this project, but a business plan encompasses all the elements of leadership and management Goals, Strategy and Tactics Who we are. INTRODUCTION.

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MOVING A COMPANY FORWARD

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  1. MOVING A COMPANY FORWARD Team 2 Project

  2. WRITING A BUSINESS PLAN Why CfMC Why the Business Plan Far beyond the scope of this project, but a business plan encompasses all the elements of leadership and management Goals, Strategy and Tactics Who we are

  3. INTRODUCTION • Robert Bierman • John Maxson • Mila Kudrjasova • Helen Liman • Narongwit Thamwarakul

  4. OUR FOCUS Who is CfMC SWOT Competitive Analysis Marketing Plan Focus on what works for CfMC Traditionally, CfMC’s weakest areas have been business management, vision and strategy, and internal business processes.

  5. Founded in 1967 by Leif Gjestland, Charlie Yarbrough, and Joe Weisman 2nd oldest market research software company. Wrote and sold first tabulation program using punch card technology 1st Employee hired in 1968 & still works for CfMC HISTORY

  6. MILESTONES 1967Introduce the first computerised tabulation program 1976 Market first commercially available CATI system 1981 Installed first interviewing system to run on PCs 1986 First to implement auto-dialing for an interviewing system 1988 Installed first predictive dialer, at Nielsen Media Research 1989 Installed Survent CATI system on a Novell network 1995 Introduced soundSurvent to record interviews and to play sound during interview 1997 Introduced webSurvent for online surveys 2004Introduced webCATI for browser-based CATI interviewing

  7. 53 Employees in 5 Locations: San Francisco (Hdqt), New York, Denver, Atlanta & Cambridge (UK) Average length of employment – 18 years Casual and family-like atmosphere Focus on work-life balance CULTURE

  8. PRODUCTS – webSURVENT

  9. PRODUCTS – webSURVENT • webSurvent makes it possible to conduct interviews and surveys via the Internet. webSurvent utilizes Internet capabilities, such as broad page size, 3-D graphics, video and still images, sound and animation. • webSurvent allows the researcher to harness the power of the Internet with the research functionality of CfMC’s CATI product, Survent (sample selection, logic management, value rotation, back-referencing, data generation, quota control, system information, and other complex features not usually supported in web-based applications.

  10. PRODUCTS – CATI • Presents survey to a telephone interviewer • Used in call centers • Collects the data

  11. THREATS STRENGTHS WEAKNESSES OPPORTUNITIES

  12. Reputation: Experienced - Among the Industry’s Oldest and Most Reputable Firms Innovative - First to develop and offer key products and services Competitive -Industry Player - 30% of Market Share High Profile - Prestigious Clientele STRENGTHS

  13. Technical Support World Class 24/7 – anytime anywhere Real People Key competitive advantage STRENGTHS

  14. Software: Flexible – custom made software for specific client’s needs Powerful – robust capabilities that exceed off the shelf products Unique – interfaces with other companies’ products (compatible codes) Proprietary - utilitarian STRENGTHS

  15. STRENGTHS • Reputable Niche Player • Unique Pricing Strategy • Exceptional Talent

  16. Technically Complicated Products WEAKNESSES • Management • Organizational Structure • Resistance to Change

  17. Expanding scope of services (hardware integration with software) OPPORTUNITIES • Global Markets • Product Enhancement

  18. Market Consolidation – Potentially Stronger Competitive Landscape THREATS • Market Stagnation – Limited Growth In US Market • Rapid Technological Development Facilitates Direct Competition

  19. COMPETITIVE ANALYSIS

  20. COMPETITIVE ANALYSIS • Computer Aided Telephone Interviewing (CATI) is one of CfMC’s highest volume products, but the future of research market is web-based surveys. • To increase sales revenues CfMC is attempting to develop a web survey portal that unifies all CfMC’s products

  21. COMPETITIVE ANALYSIS • There are a number of providers of market research software, but a few are CfMC’s key competitors. • Threats are the similar products for Computer Aided Telephone Interviewing (CATI) and web surveys offered by competitors

  22. The largest competitor, and the largest company in the industry • Known of buying out their competitors • Leading in web-based products and CATI products • SPSS 2007 revenue: $291,000,000 - 11% net profit • CfMC revenue: $6,421,667 - 10.5% net profit

  23. Public company • Has bought out only a few competitors • A big competitor in web-based product • 2007 Revenues: $34,215,000 • CfMC revenue: $6,421,667

  24. No 1. leading company in CATI product • Strength: power dialer • Private company • 3rd leading company in CATI product

  25. MARKETING STRATEGY

  26. MARKETING STRATEGY “If you’re not thinking about our software, we’re doing our job” Emphasize service and support Website audit Direct mail Partner client presentation Build a relationship business Cooperative marketing with clients testimonials. Maintain their high-volume business (CATI), but with the market shift towards web based surveys, expand their web portal revenue.

  27. MARKETING STRATEGY “If you’re not thinking about our software, we’re doing our job” • Stay visible • Advertise in customer targeted media • Sponsors education and non-profit sectors • Continue participating in major conferences • Improve and simplify its website • Promote custom solutions • Work with customers on specific needs • Advertise in non-traditional media

  28. CONCLUSION AND LESSONS LEARNED

  29. CONCLUSION • Need for internal communication • Teamwork not present • Need for unifying computer systems (MIS) • Need for a developed HR department • Developing a guiding strategy and goal • Keeping accurate financial data and goals. • Establishing and maintaining a consistent culture

  30. LESSONS LEARNED • Difficulties with schedules • Most diverse group with a large age, ethnicity, language, and experience differences • Key personnel losses – even temporary • Even a technology company can be missing the boat on Information Systems • Great people does not infer good leadership • No goal setting • No Mission Statement • No MBO • No clear organizational structure

  31. ONGOING ASPECTS • John is now the Director of Business Administration (thanks Jason!) • Acting CEO since 2/1, who is one of the founders supporting this change • Improving organizational structure • Finalizing the business plan • Presenting these slides to the employees

  32. Q & A

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