Homework Lance
The Homework Hangout Inc.
Grand Canyon University
The Homework Hangout Inc.: Business Plan
Porters five forces have helped shaped multiple industries, and assists in determining the company’s strengths and weaknesses. Competition of the industry is the first major factor to play in Porters five forces (“Porter’s 5 Forces Definition | Investopedia, n.d.). The Homework Hangout has competitors such as the Boys and Girls club after school programs. The Homework Hangout Inc. is unique and has low competition due to the fact there low to minimal cost for kids to participate in the program. This company makes sure to commit and send a strong message of what they stand for to their audience and competitors. Local word of mouth and local advertising of the program will help expand business and keep the positive word of mouth going for the after school program. The program will seek to use people who are highly qualified and want to help enrich the lives of kids of who need extra help and attention from a positive influence. Competition will be low to minimal do to the fact the program is immensely involved in the community and there are not many competitors in this field that offer the same platform as The Homework Hangout Inc.
As an exclusively owned subsidiary we have the opportunity to create our own competitive advantage through a close cooperation in understanding and collaboration with each district and their learning curriculum. We can provide employee assistance to all clients referred or walk-ins as they feel they need our help in understanding the subject matters being taught. We focus on the academic development and character development of our clients like many other similar companies. However, we will also create a social environment for clients to develop interaction skills that have become lost in this age of technology interaction versus face to face. Our staff will be capable integrated players in the education industry as they are mostly aspiring teachers in training and would gain valuable experience in the process of assisting these clients in reaching their goals and plans for their futures.
Within our doors we will be a complete community involved in offering our clients the utmost safe and productive after school hours programs available. School districts, businesses, and leadership partners in our communities will provide programs and opportunities to clients to experience a small piece of their rights to “Life, Liberty, and the pursuit of Happiness”. With our age group expanded to include the older teen group who are often left out by after school care programs we feel that it allows for a community that covers all age groups of the community. This community involvement as a whole entity is what creates an advantage over our competition.
The Homework Hangout’s mode of entry will be new exclusively owned subsidiary primarily because there is no public existing business or organization that The Homework Hangout can use for licensing, or purchase to start its base company. Although there will be some strategic alliances with school administrators and the like, we feel that this is efficient enough for our method of entry and will likely only refer clients to us rather than sharing any costs or resources. Our choice of entry will, of course, cost us more than other methods, but The Homework Hangout Inc. will have more control over the services and products it offers to students. A statement from “Strategic Management Competitiveness & Globalization “clearly identifies the principal’s feelings on why a wholly owned subsidiary fits best. Research also suggests that “wholly owned subsidiaries and expatriate staff are preferred” in service industries where “close contacts with end customers” and “high levels of professional skills, specialized know-how, and customization” are required.” (Hitt, Ireland, Hoskisson). Essentially, the Homework Hangout’s ideal system is key people and managers that will associate with various educational administrators and school boards to gain critical resources into the workings of the school systems and how The Homework Hangout Inc. can help students with school matter subjects, sports, and other various after school issues.
The use of social media by teens would be useful in determining how many teens are spending their time after school. It would identify where teens hang out, what type of music they listen to, what trends they are interested and even the types of sports. It may also indicate the level of educational understanding they have. If there is a change in types of event or trends that are becoming more dominate, it could help us to adjust our methods of the types of programs / services we should drop and / or provide. If teens are feeling that there is a lack of parent interaction or involvement, then it can help us to see how we can help. One type of service we can provide is self-reliance teachings like cooking and cleaning for yourself or if we can provide counseling services to help a teen understand why their parent has to work long hours. As parents, we know there has to be small sacrifices to make sure we provide the basic necessities for our children.
By using social media, we can see the direction in which the teens of the community are going. We can see if dangerous trends are starting and teach the importance of taking care of our bodies. Trends like home treatments of lip enlargements or new challenges among teens can be very dangerous or even fatal.
With the use of social media, we can get an idea of what our teens need and look at ways to get them on the right track to a successful future. If a teen posts videos of his/her musical talent, there can be a future for them to be successful in that area or even in sports or writing. Our goal is to help teens find a useful outlet and blossom into successful adults.
References
Hitt, M. A., Ireland, R. D., & Hoskisson, R. E. (n.d.). Strategic Management Competitiveness & globzation (Vol. 11e). United States: Hitt, reland, Hoskisson.
http://childrenslearningadv2.reachlocal.net/index.php/about
Porter’s 5 Forces Definition | Investopedia. (n.d.). Retrieved from
http://www.investopedia.com/terms/p/porter.asp
The Five Competitive Forces That Shape Strategy. (n.d.). Retrieved from
https://hbr.org/2008/01/the-five-competitive-forces-that-shape-strategy/ar/1
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