PEST Analysis And Pest Analysis: Viacom
Economical Environment United States has been considered a full forced industry when it comes to media companies. In this industry, the cost of capital is low while the availability of the capital is high. Having Kamazin as a CEO who actually is a cost-conscious leader should be taking more risks like what Redstone wants. As mentioned, during 2003, Viacom’s earnings growth was not able to catch up with other competing forms in the industry. This means that the company should put more effort to improve their performance.
Sociological Environment Booming technological development and breakthrough in media industry such as in cable. The success of this development in United States provides viability of Viacom’s product. The continuous growth of cable TV not only increased demand for media but also increased demand of customers in terms of many cable channels including those that offer 24-hour daily content. This became Viacom’s opportunity to suffice the needs of their …show more content…
It has various worldwide interests in cable and satellite television networks (MTV Networks and BET), and movie production and distribution (the Paramount Pictures and DreamWorks movie studios). Considering the identified threats, opportunities, weaknesses, and strengths, we identified different strategies in order to address different concerns. With the consideration of the identified problem, we contemplated on both the strategies’ advantages and disadvantages. Since the main problem of the case is the lack of a succession plan for the executives’ position in Viacom, we chose two strategies that would best solve the problem. It includes both the restructuring of the organizational culture and succession …show more content…
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Create and formulate succession plan CEO, BOD, HR Department Manpower, money Must create plans immediately upon review and analysis of firm’s standing When the persons involved met and discussed the problems the firm is encountering
Creating a team who will manage succession plan CEO, HR Department, assigned Manpower, money Upon acceptance of proposed strategy If the persons involved have already met and identified teams
Monitoring of employees CEO, HR Department, assigned Manpower, money, technology 1 month after creation of teams When the team have already started to look to the performances of employees
Identification of skills and knowledge needed to be a leader CEO, HR Department, assigned Manpower, money Simultaneous with monitoring of employees When they have already met and brainstormed for the qualities of leader they will be choosing
Choosing the best candidates for leadership CEO, HR Department, assigned team, BOD Manpower, money After performance evaluation When they have already assessed each