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Exploring Business Management Strategies of BD Network

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1. Introduction: Exploring Business Management Strategies of BD Network

Business managementrefers to the administration and coordination of business tasks, activities and resources to achieve a particular objective. Proper business management helps the organisation achieve its business goal and objectives in a minimal amount of time. The literature review chapter gives an overview of the business management strategies followed by the reputed advertising services company, BD network. Along with this, different issues, including reduced business revenue, lack of employees, and improper customer management, have been discussed in this chapter. Furthermore, aJournal Matrix has been organised and collects topic-related reliable and informative data from the different journals.

2. Presentation of data

2.1 Company background

BD Network is a brand activation agency that helps the client connect with the right audience and helps the business manage their business. The company mainly focuses on three vital pillars: people, purpose and participation. In this context, the company guides its clients in searching the suitable audiences at the right time by following the proper route. BD Network has a responsible team for planning, producing, creating, measuring and staffing ROIfor experimental, creative and shopper campaigns. Along with this, the campaign has often been supported by creative content and innovative technology to enhance reach and engagement with the customer (Thisisbd.com, 2023). Currently, the company is facing different types of issues, such as a lack of staff, employee management issues, customer management issues, and decreasing revenue. In this context, Brexithampers the overall performance of the company.

2.2 Strategic issue

Strategic issue 1:Brexit

Brexit creates a negative impact on the different businesses of the UK and damages the economic growth of the country. Brexit has already decreased employment growth and investment, that harms the overall business outcome. In this context, due to the shortage of worker, the company faces difficulties meeting market demands.

Impact of Brexit on the business of the UK

Figure 1: Impact of Brexit on the business of the UK

The above picture depicts the impact of Brexit on the business of the UK. In this context, companies in different industries face sales issues that hamper the company's performance (Hbr.org, 2019). Furthermore, a shortage of workers, lower sales, and high export costs create a negative impact on the overall business and hamper business performance.

Strategic issue 2: “Employee management” issues

The shortage of employees is one of the major issues that hampers the overall performance of the company. In this context, the reputedadvertising services company BD network faces a lack of workers and fails to meet client requirements.

The total number of employees in the BD network

Figure 2: The total number of employees in the BD network

The above picture depicts the total number of employees of the BD network. In the year 2020, the BD network will have a total of 10 employees. In the year 2019, the total number of employees in theBD network was 45 (Uk.globaldatabase.com, 2023). Therefore, it can be identified as the number of workers in the BD network has been reduced, that creates major issues for the company.

2.3 Challenge

Challenge 1: “Financial performance management” issues

Financial performance is the subjective measurement that helps to determine whether the company faces profit or loss. The advertising services company BD Network faces financial issues that damage the business growth of the company.

The total revenue of the BD network

Figure 3: The total revenue of the BD network

The above picture depicts the revenue of theBD network from 2011 to 2020. In the year 2011, the revenue of theadvertising services company BD network amounted to£ 33.6 million.In the year 2020, the revenue of the BD network amounted to£ 11.7 million (Uk.globaldatabase.com, 2023). It has been observed that therevenue of theBD network has been reduced highly 2011.

Challenge 2: “Employee and customer management” issues

The advertising services company BD network faces issues related to customer management and fails to meet customer requirements due to the shortage of skilled employees.In the year 2020, the BD network will have a total of of employees (Uk.globaldatabase.com, 2023). In this context, due to thestaff shortage, the company faces business loss issues.

2.4 Journal Matrix

Factor Analysis Impact
Political The minimum “tax rate” is 20% (Gov.uk, 2022)
“Criminal offences” are considered high that is over 6.3 million (Statista.com, 2022a).
Negative
Economic The GDP of the UK has enhanced by 1.67 % in 2019 (Statista.com, 2022b).
The “literacy rate” is 99% (Una.org.uk, 2022)
“Unemployment rate” is 3.7 % (Ons.gov.uk, 2022a).
positive
Social The UK is one of the biggest "advertising markets" in Europe.
In the year 2020, 21 billion British pounds spend on advertisement purposes (Statista.com, 2023).
Different companies boost awareness makes the advertisement of the product.
In the mid-year of 2021, the UK population was 67.0 million (Ons.gov.uk, 2022a).
positive
Technological Website sales of nearly 356.4 billion British pounds in the UK (Statista.com, 2022c).
Technologically advanced country
Positive

Table 1: Journal Matrix

3. Presentation of models and theories

3.1 Theoretical overview

“Scientific management theory mainly addresses individual efficiency and productivity. As per the opinion of Braverman (2020),scientific management theory” synthesizes and analyses the workflows. This theory mainly focuses on improving productivity that helps to improve the economic efficiency of the organisation. Furthermore, this theory also addresses general business practices such as planning, design, controlling product quality, cost accounting and so on. In this context, theadvertising services company BD network is required to focus on monitoring the performance of the workers that help to improve the overall performance of the business.

3.2 Use of the PEST model

Factor

Analysis

Impact

Political

The minimum “tax rate” is 20% (Gov.uk, 2022)

“Criminal offences” are considered high that is over 6.3 million (Statista.com, 2022a).

Negative

Economic

The GDP of the UK has enhanced by 1.67 % in 2019 (Statista.com, 2022b).

The “literacy rate” is 99% (Una.org.uk, 2022)

“Unemployment rate” is 3.7 % (Ons.gov.uk, 2022a).

positive

Social

The UK is one of the biggest "advertising markets" in Europe.

In the year 2020, 21 billion British pounds spend on advertisement purposes (Statista.com, 2023).

Different companies boost awareness makes the advertisement of the product

In the mid-year of 2021, the UK population was 67.0 million (Ons.gov.uk, 2022a).

positive

Technological

Website sales of nearly 356.4 billion British pounds in the UK (Statista.com, 2022c)

Technologically advanced country

Positive

Table 2: PEST model

Analysis

In the world, the UK is the most powerful country and it is aconstitutional monarchy andmodern parliamentary democracy. The minimum “tax rate” that the people are required to provide is20% (Gov.uk, 2022). Along with this, “Criminal offences” considered high in the UK that is harmful to business. In the context of economic factors, the GDP of the UK has enhanced by 1.67 % in 2019 (Statista.com, 2022b). Along with this, the "literacy rate" is 99%, therefore, the company can easily get skilled and knowledgeable employees for handling different business activities. Furthermore, the advertising services company BD network also gets financial help from the country to overcome the monetary issues and properly continue the business.

The UK is one of the biggest “advertising markets” in Europe and the different companies in the UK make the advertisements the product to enhance sales growth, therefore, it shows that the demand for advertising the product is high in the UK. In the year 2020, 21 billion British pounds spend on advertisement purposes (Statista.com, 2023). BD network can easily improve its business growth as the demand for the advertisement of the product and services in the UK are high. The UK is a technologicallyadvanced country and website sales are nearly 356.4 billion British pounds in the UK (Statista.com, 2022c). In this context, the BD network canuse modern technology for making proper advertisements of the product and services.

4. Discussion

4.1 Discussion on issues

The two major issues are “Brexit” and employee management issues that have a negative impact on the business. In this context, due to Brexit, companies in different industries face sales issues that hamper the company's performance (Hbr.org, 2019). Similarly, the BD network faces sales issues and a shortage of skilled workers; therefore, the company faces difficulties making innovations in the business and meeting customer requirements and market demands. BD network mainly provides campaigns by using creative content and innovative technology to attract the right customer in a proper way. As per the opinion of Paais and Pattiruhu (2020), effective leadership and organisational culture help to improve employee performance. In this context, the company is required to maintain a proper organisational culture and select a suitable leader for managing the worker in the workplace and meeting customer requirements. As opined by Caillier (2020), the “Democratic Leadership approach helps to enhance employee performance. In this type of leadership style, all the team members participate in making a suitable decision; therefore, it helps to make an effective business decision.

BD network can follow the Democratic Leadership Approach to improve employee engagement and overall performance. As per the “Scientific management theory, the company is required to address individual efficiency and productivity. In this context, good organisational culture attracts new employees and influences the old employees to work in the organisation. Therefore, the company can easily make innovations in advertisement services and provide the best services to customers. Experienced and efficient employees help the advertising companyBD networkto provide better customer service.

4.2 Discussion on challenges

The company faces two challenges, including financial performance management issues and employee and customer management” issues. In the year 2020, the revenue of the BD network amounted to £ 11.7 million, a significant reduction from the year 2011 (Uk.globaldatabase.com, 2023). In this context, the BD network faces financial loss issues; therefore, the company faces difficulties meeting customer requirements and reducing its customer base. In terms of the number of employees, the company faces a shortage of skilled and experienced workers, therefore, the company faces difficulties making innovations in the business and meeting customer requirements. In the year 2020, the BD network will have a total of 10 employees (Uk.globaldatabase.com, 2023). As per the opinion of Khan et al. (2022), establishing a good relationship with the customer is essential as it helps to enhance the customer base. In this context,the BD networkis required to focus on making innovations in advertisement services to attract new customers and meet customer satisfaction.

The good reputation of the company in the marketplace is essential as it helps to draw new customers and improves the business growth. As per the opinion of Wanget al. (2021), thebrand reputation of the company helps to improve customer-purchasing intentions. In this context, theBD network is required to focus on establishing a good market position by making innovations in advertising services and providing the best services to customers. Furthermore, good advertising services attract clients to make advertisements for the product and it helps to improve the financial performance of the company.

References

Thisisbd.com , 2023. THE HOME OF MURDER THE MEDIOCRE. Available at :<https://thisisbd.com/about> [Accessed 18february 2023]

Hbr.org, 2019. Brexit Is Already Affecting UK Businesses — Here’s How. Available at :< https://hbr.org/2019/03/brexit-is-already-affecting-uk-businesses-heres-how> [Accessed 18february 2023]

Uk.globaldatabase.com, 2023. BD NETWORK LIMITED. Available at :< https://uk.globaldatabase.com/company/bd-network-limited#competitors> [Accessed 18february 2023]

Bloom, N., Bunn, P., Chen, S., Mizen, P., Smietanka, P. and Thwaites, G., 2019.The impact of Brexit on UK firms(No. w26218). National Bureau of Economic Research. https://www.nber.org/papers/w26218

Paais, M. and Pattiruhu, J.R., 2020. Effect of motivation, leadership, and organizational culture on satisfaction and employee performance.The Journal of Asian Finance, Economics and Business,7(8), pp.577-588. 10.13106/jafeb.2020.vol7.no8.577

Khan, R.U., Salamzadeh, Y., Iqbal, Q. and Yang, S., 2022. The impact of customer relationship management and company reputation on customer loyalty: The mediating role of customer satisfaction.Journal of Relationship Marketing,21(1), pp.1-26. https://doi.org/10.1080/15332667.2020.1840904

Wang, S., Liao, Y.K., Wu, W.Y. and Le, K.B.H., 2021. The role of corporate social responsibility perceptions in brand equity, brand credibility, brand reputation, and purchase intentions.Sustainability,13(21), p.11975. https://doi.org/10.3390/su132111975

Braverman, H., 2020. Scientific management. InIndustrial Work and Life(pp. 111-127). Routledge. https://www.taylorfrancis.com/chapters/edit/10.4324/9781003085706-9/scientific-management-harry-braverman

Statista.com (2022a). Crime in the UK - Statistics & Facts. Available at :< https://www.statista.com/topics/3793/crime-in-the-uk/#topicOverview.> [Accessed 18february 2023]

Statista.com (2022b). Gross domestic product (GDP) growth rate in the United Kingdom 2027. Available at :< https://www.statista.com/statistics/263613/gross-domestic-product-gdp-growth-rate-in-the-united-kingdom/.> [Accessed 18february 2023]

Statista.com (2022c). E-commerce sales in the United Kingdom (UK) from 2014 to 2019, by technology. Available at :< https://www.statista.com/statistics/282164/e-commerce-annual-sales-in-the-united-kingdom-uk-by-technology/>. [Accessed 18february 2023]

Statista.com (2023). Advertising in the United Kingdom (UK) - statistics & facts. Available at :< https://www.statista.com/topics/1747/advertising-in-the-united-kingdom/#topicOverview/>. [Accessed 18february 2023]

Ons.gov.uk (2022a). Unemployment rate (aged 16 and over, seasonally adjusted): %. Available at:<https://www.ons.gov.uk/employmentandlabourmarket/peoplenotinwork/unemployment#:~:text=Labour%20market%20overview%2C%20UK%3A%20December%202022&text=The%20unemployment%20rate%20for%20August,seen%20across%20all%20age%20groups.> [Accessed 18february 2023]

Ons.gov.uk (2022b). Unemployment rate (aged 16 and over, seasonally adjusted): %. Available at:<https://www.ons.gov.uk/peoplepopulationandcommunity/populationandmigration/populationestimates/bulletins/annualmidyearpopulationestimates/mid2021> [Accessed 18february 2023] Gov.uk (2022). Income Tax rates and Personal Allowances. Available at :< https://www.gov.uk/income-tax-rates.> [Accessed 18february 2023]

Caillier, J.G., 2020. Testing the influence of autocratic leadership, democratic leadership, and public service motivation on citizen ratings of an agency head’s performance.Public Performance & Management Review,43(4), pp.918-941. https://doi.org/10.1080/15309576.2020.1730919

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