6. Competitor analysis 6.1. Competitors To recognise the competitors to TBTC, two domains were analysed. The area of influence (territory, business and market) in which organisation directly competes with other charities such as Brain Tumour Research, Brains Trust and The Lyla Nsouli Foundation. On the other hand, the contiguous area where the competition is close, but indirect (serves same customer, but with different resources or through different channels), like Cancer Research UK, Macmillan Cancer Support and Hospice Care UK. The analysis has provided an identification of the following competitors’ overview, objectives, mission, strength and weaknesses. As a result providing VRIN analysis to the Brain Tumour Charity. 6.2. Direct Competitors …show more content…
The Diana Ford Trust, founded a charity, and then in 2008 it was re-registered as Brain Tumour Research. Created by Sandy and Rosemary Saunders in memory of their daughter Diana. The charity’s vision is to find a cure for brain tumours” (Braintumourresearch.org, 2015). The charity wants to build a network of experts in sustainable Brain Tumour Research” (Braintumourresearch.org, 2015). Brain Tumour Research is the main competitor to TBTC. The charity lack of financial transparency, yet manages to attract many donors. This is because of high celebrity endorsement and strong Umbrella group (see appendix 4). Brainstrust is a UK based brain cancer charity, dedicated to improving clinical care for brain tumour sufferers and providing coordinated support in their search for treatment. Brainstrust’s mission is to provide a unique support service to people who are affected with a brain tumour (Brainstrust.org.uk, 2015). The charity was founded in memory of Lyla, who died from brain cancer. The foundation operates in a children’s brain cancer research. They fund projects that have the highest chance of making quick and significant impact on children with Diffuse Intrinsic Potine Glioma (DIPG) (Lylansoulifoundation.org, 2015). 6.3. Indirect Competitors Cancer Research UK is the one of the biggest cancer research and awareness charity in the UK. It was found in 2002. The company's ambitions are to reduce the number of deaths from cancer, hence to find a cure. (Cancer Research UK, 2013). Macmillan is the biggest charity that provides support in all types of cancer to improve the lives of people. It mission is to reach and improve the lives of everyone living with cancer and inspire millions of others to do the same (Macmillan.org.uk, 2015). The main advantage of Macmillan is a Cancer Voice network and Rich offline marketing. Yet, it causes excessive spending on advertising. Hospice Care UK supports hospice people in both throughout the Country and Worldwide. They deliver excellent clinical service for people with limited lifetime and their families. The charity’s vision is being the national voice to hospice care in the UK work closely with its members (Hospiceuk.org, 2015). The charity is the leader in hospice sector and get financial support from government & local communities. In order to understand how competitors do better than TBTC.
Three questions guided to create competitive advantage of each charity. What Do you well? (Strengths). What do you do better than your competitors? (Competency) and How do you provide value? (Advantage). 6.4. Competitive Advantage A competitive advantage is what your organization does better than similar organizations. It is what your organization does better than your competitors do. Now many organizations in the nonprofit world think that they do not have any competitors. However, the truth is that nonprofit organizations find themselves actually competing for a small pool of resources. They are competing for the same money. They are competing for volunteers, and they are competing sometimes for the same grants. So competitive advantage is important in today’s market (OnStrategy, 2015). TBTC dominates in the brain tumour sector and has a strong advantage over direct competitors. However, it is weak with indirect competitors. They should build a reputation using tangibility and a strong social media presence. 6.5. …show more content…
VRIO The VRIO framework determines the value, rarity, imitability, and organisation. This framework is important for the internal analysis of TBYVC. For gaining competitive advantage over its competitors (Jurevicius, 2015), TBTC should improve its internal as well as external resources and competences. Resources and Competences Value Rarity Imitability Organisation Competitive Advantage Brand Yes No Yes Yes Temporary Transparency Yes Yes Yes Yes Competitive Advantage Social Media Yes No No Yes Parity Tangibility No No No Yes Competitive Disadvantage Campaigns No No No Yes Competitive Disadvantage Brand: TBTC is the strongest charity in a brain sector by revenue and research cases. The charity has its own regular donors and patients who are loyal and eager to raise funds. Transparency: TBTC shows the detailed financial statements, in particular how the money received and where it goes. This is a strong competitive advantage, because it will enhance the reputation and awareness. Social Media: Although the charity has media presence, competitors have a better strategy. This should be considered, otherwise can become a threat. Tangibility: Apart from financial information, there should be a substantial information that is shown on TBTC’s website.
Competitors can outperform TBTC. Campaigns: TBTC has plenty of campaigns that help to raise funds, yet it does not utilise the full potential of making events or trendy campaigns. 6.6. TOWS Market and Competitive analysis provoked the creation of TOWS matrix. Unlike SWOT framework, TOWS analysis observes threats and opportunities before weaknesses and strengths. Having this matrix, TBTC can examine the organisation’s advantage of opportunities and minimise the threats by developing strengths and fixing weaknesses (Smith, 2015) Therefore, the TOWS analysis helps our client to get a better understanding of the strategic choices that TBTC face as following below. Strengths and Opportunities (SO). The main strength is HeadSmart program. It creates an opportunity for gaining more market share in the brain sector as well as build a strong reputation. Due to the existing strengths such as transparency with Financials, willingness to collaborate and research pioneering there is a potential to gain bigger market share with a stronger presence in the sector. When it comes to Weaknesses and Threats (WT) such listed as weak social media or campaigns can be turned into threats as competitors already strengthening
them.
The starting point of the strategic management is said to be the DESIGN SCHOOL with an emphasis on process. However this system is entirely based on the SWOT analysis. Swot stands for strength, weakness, Opportunities and Threats. Strength is a show...
...vive, profit, and grow. Marketing contributes to all of these categories. A companywide strategy designed to optimize profitability within Titleist comes from their media outlets. This ties in with Big Data. Titleist has jumped into the world of Twitter and is heavily involved with those who play golf. They respond to most questions giving feedback to all that they can. Their Twitter page has over “three hundred thousand followers”, and is steadily growing (By Rick V., Team Titleist Staff on Yesterday. (2016). With this page they are able to keep track of their daily interactions and page visits. Titleist has driven up their overall interaction with the public by “78 percent” (SAUERHAFT, R., & Chwasky, M. (2014). Social media has grown tremendously over the past decade and is a vital component to many company’s successes within their customer relationship.
Worth, M. (2014). Nonprofit management: Principles and Practice. 3rd Ed. Thousand Oaks, CA: SAGE Publications, Inc.
Due to NPO MCCC often have controversial objectives related to the offering of services or intangible products, non-profit organizations MCCC may have non-financial indicators that measure the quantity and quality of services, non-profit organizations have difficulties in developing quantitative techniques helpful for evaluating the performance of the organization. BSC potentially balance financial and non-financial activities, for example, MCCC are willing to establish positive word of
The SWOT analysis: The study of the firm's Strengths, Weaknesses, Opportunities and Threats called SWOT analysis, a key step in flushing out known performance issues that are important to the growth of the organization addressed in the corporation strategic plan. The issues identified in the SWOT analysis help leadership to come up with a plan and strategy to achieve the overall mission of the company (Strategic Planning, n, d). Target Corporation is one of the largest public retailing company in the US having more than 1700 stores serving guests nationwide. Target group and its brand position are evaluated in the market using SWOT analysis.--
The competing external stakeholders seek to attract the focal organization’s dependents. These competitors may be direct competitors for patients or they may be competing for skilled personnel. The patients hold the role of seeking care. They demand that they receive quality care in the organization and that the care is consistent. The patients play a role in the organization because the organization needs the patients to run the facility. The organization provides a service that the patients need and demand. The source of influence from external stakeholders comes from control of strategic resources materials, labor and
Reading one of the two books available by Mancuso is pertinent to understanding every aspect of starting a nonprofit organization. Describing each process in detail Mancuso’s books are a relevant source for answering any questions or concerns along the way.
A SWOT analysis is simple exercise that could be implemented on multiple subjects including an individual or a whole corporation. The SWOT analysis is an operational tool for managing change, defining strategic direction and setting realistic goals and objectives according to Simoneaux and Stroud (2011). Discovering new opportunities and manage and eliminate threats that are present in the company and the surrounding market. SWOT is a valuable technique that leads to a better understanding of the strengths, weaknesses, opportunities and treats both internally and externally. The strengths and weakness are to be considered internal factors and opportunities and threats to be e...
Qualitative research provides insight into developing phenomena or offers a new perspective on current trends. Prior to the creation of a dynamic strategic plan, the SWOT analysis offers a critical assessment of an organization’s competitive position, though the four areas of assessment are not weighted, nor does the utilization of the tool provide specific direction for the organization and requires subjective interpretation of the data. Input from stakeholders brings validity to the information gathered while conducting a SWOT
Discuss an assessment or evaluation strategy which may be used to help determine the marketing potential of an organization.
This is a crucial part of a strategic analysis because ‘…organisations do not exist in a vacuum, they are part of a complex world’ (Bowman 1987:61) and many factors can influence operations, beneficially and unfavourably. However, these can be difficult to comprehend due to their complexity, diversity and fast changing nature. Necessarily a number of techniques have been developed to facilitate the process and to ‘…contribute to answering the key managerial question…’of what ‘…opportunities and threats might arise in the future’ (Johnson & Scholes 2002:99).
Hendersern and Stern 2000, ‘Untangling the origins of competitive advantage’,Strategic Management Journal, Vol. 21, pp. 1123-1145.
that made the company one of the most recognized companies of the world. The dynamic
The key strategies and distinctive competencies that have led the company to success and its present position of a world leader in the Internet sales can be identified as follows.
In nonprofit organizations, the monetary support provided is not always directly related to the service provided, as patrons are not directly charged for services. So the success is measured by the quality of economically costed services.