Hustream Technologies Interactive Video
Order Instructions:
1. What is the long term business strategy for HuStream? In which areas should the business model be directed? You may use any appropriate business model to analyze their business.
2. How should HuStream’s co-founders seek the funding needed to support their company’s growth? Discuss the revenue model.
3. What partnership model should the co-founders pursue to promote the use of digital ecosystems to enhance their customers experiences and value propositions
4. Describe the IT platform HuStream has developed to date. Is this platform aligned to HuStream’s business strategy? If so, how has the user experience helped or hindered?
5. What principles of strategic execution should HuStream use?
SAMPLE ANSWER
Hustream Technologies Interactive Video
Question 1: What is the long term business strategy for HuStream? In which areas should the business model be directed? You may use any appropriate business model to analyze their business.
Every business is expected to have a short and long-term strategy to remain steadfast in its operation. The long-term business strategy for HuStream is to render quality services that meet customers’ expectation. The company has a number of areas that they can direct their business model. One of the areas is entertainment. Others includes education, hospitality and tourism, automotive, advertising, athletics, landscaping, oil and gas, employee training, computer software, weddings, online dating, casinos, real estates, athletic and sports, online tutorial, and vlogging also known as video blogging among many others (Ivey, 2014). An appropriate business model that can make the company accrue profits will guide the selection of a lucrative area. Per episode fee model is appropriate to help the firm generate revenues through entertainment option while in per video profit model will be appropriate in the education area. Therefore, the company stands a higher chance to accrue more revenue by adoption the revenue model.
Question 2: How should HuStream’s co-founders seek the funding needed to support their company’s growth? Discuss the revenue model.
Funding is required to spearhead the growth of the company. The co-founder therefore seeks this funding through revenue model approach. The co-founder should provide a detailed account of how the company plans to accrue its income and strategies that it will use to generate profits. The pricing details of its services and the modalities it will use to attract customers should be provided to provide an insight of the capability of the company to make profits and generate revenue in future (Dasgupta, 2013). The co founder should as well come up with sales projections over a certain period. The revenue of the company may be recurring from the repeat or loyal clients. Providing services to various customers, as schools and entertainment industry will enable the firm to have stable streams of revenue hence will enable the company to carry on with its projects. Other source of revenue for the company could be transactional which includes services the company will be selling on a continuous basis to its clients.
Question 3: What partnership model should the co-founders pursue to promote the use of digital ecosystems to enhance their customers experiences and value propositions
Various partnership models exist that cofounder can pursue to promote the use of digital ecosystems to enhance customer experience and value propositions. In this scenario, the suitable model is concurrent model. Partnership should incorporate different individuals that will be able to offer different programs or services to different groups of people to enhance and expand service delivery (Ivey, 2014). Currently, the demand of the customers is huge and this requires hiring of specialized individual to come and help with service rendering. The company is also expected to liaise with other stakeholders as well as financial institutions, to request for financial assistance. This model is therefore suitable in this scenario as it goes an extra mile to save costs.
Question 4: Describe the IT platform HuStream has developed to date. Is this platform aligned to HuStream’s business strategy? If so, how has the user experience helped or hindered?
HuStream IT platform under operation has the capacity to operate globally through internet with the aid of cloud computing. Through this cloud computing, customers can access and use and even build own interactive materials the way they see fit. Clients are required to login the cloud and create their own content that meets their needs. This cloud is protected by Secure Sockets Layer (SSL) security (Ivey, 2014). Therefore, there is a guaranteed protection from the intruders. The functionality and new features provide users and customers with unique experience. Users such as students and teachers have the ability to customize some of the buttons on the websites to ensure that they achieve user experience (Ivey, 2014). The company therefore focused on production of videos at a small fee. The service based model business focused on video production and in ensuring that customers het high quality video production services.
Question 5: What principles of strategic execution should HuStream use?
For HuStream to achieve its objectives it needs to apply various principles of strategic execution (Pal & Pantaleo, 2008). This is important in setting the pace of what the company will achieve. One of the principles is to dialogue with the client partners to help in definition of objectives and criteria of success. It is important to begin by thinking about the brand and the client partners to define success criteria. The partners should collaborate and agree on what will constitute as a successful campaign. The company should also consider the program performance indicators to ensure that the performance of the company is assessed at the conclusion of the project to help measure success. Since objectives of the business do vary, program performance indicators as well tend to vary from one company to another. Another principle is to gain in-depth understanding of both internal and external landscape that the services or the brand competes, understanding the company position and status as well as the environment enlightens the business person on the various aspects that affect smooth operation of the business.
Furthermore, before execution is prudent to think about consumer insights (Radomska, 2014). Consumer should provide their views and express their emotions and rational engagement about them and these insights will inform how the company will implement or develop the campaign. The next principle requires that that the service provided exemplifies creativity and innovation. The services should resonate and meet the expectations of the company. The services should also engage the customers through different platforms such as digital touch among other to create positive consumer experience.
References
Dasgupta, P. (2013). Evaluation of Revenue Model for Social Networking Sites and Implications. Journal of Marketing & Communication, 9(2):, 9-18.
Ivey, R. (2014). Hustream Technologies Interactive Video. Ivey Publishing.
Pal, N., & Pantaleo, D. (2008). From Strategy to Execution : Turning Accelerated Global Change Into Opportunity Berlin : Springer. 2008. eBook. ,
Radomska, J. (2014). Model of successful strategy execution: revising the concept. Problems of Management in the 21st Century, 9(3), 213-222.
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