Key External Influences Affecting Business Environment

in #bbc • 2 years ago

3CO01 Business, Culture, and Change in Context
Name
CIPD Number
2500 Words

AC 1.1 Key External Influences Affecting Business Environment
British Broadcasting Corporation (BBC) operates in a complex business environment that is shaped by a range of external influences. Here are some examples of external factors that can affect the firm’s business environment:
• Political:
Political factors refer to the influence of government policies and regulations on an organization. BBC is a publicly funded organization and is subject to political influence and regulation. Changes in government policy or funding structures can have a significant impact on the organization's operations and strategy. Political interference or pressure to report on certain issues in a particular way can also affect the BBC's independence and credibility(Ganter et.al, 2020).
BBC is funded by a license fee paid by all UK households with a television. Any changes to the funding structure or regulations surrounding the license fee would have a significant impact on the BBC's operations and revenue.
• Economic:
Economic factors refer to the state of the economy and how it affects an organization. The economic climate can affect the company’s revenue streams and its ability to invest in new programming and services. Changes in advertising revenue or the license fee structure can impact the organization's financial viability. Economic downturns can also lead to budget cuts and staff reductions, affecting the quality of programming and services. A weak economy can lead to decreased advertising revenue for the BBC, as well as lower funding for public service broadcasting.
• Technological:
Technological factors refer to the impact of new and emerging technologies on an organization. The rise of new technologies and platforms has disrupted traditional broadcasting models and has led to changes in audience behavior (Juan-Luis, 2020). BBC must adapt to these changes by investing in new technologies and platforms to reach audiences on multiple devices. Technological developments in areas such as artificial intelligence and data analytics may also affect the way that the firm creates and delivers content.
AC 1.2 Organizational Goals
British Broadcasting Corporation (BBC) is a public service broadcaster that has a range of organizational goals that guide its operations and activities. Some of its key goals include:
• Informing, Educating, and Entertaining:
One of the main goals of BBC is to provide high-quality content that informs, educates, and entertains audiences in the UK and around the world. The firm aims to be a trusted source of news and information, and to provide programming that is diverse, innovative, and engaging (MacLennan, 2018).
BBC's mission is reflected in the diverse range of programming offered by the BBC, which includes news and current affairs programs, educational programs, and a variety of entertainment options.
• Fostering Creativity and Diversity:
BBC aims to foster creativity and diversity in its programming and operations. The organization is committed to promoting diverse voices and perspectives, and to supporting the development of new talent and innovative ideas.
To foster creativity, BBC provides a range of opportunities for creative professionals to develop and showcase their talents. This includes commissioning original programming from established and emerging writers, directors, and producers, as well as providing training and development opportunities for individuals interested in pursuing careers in the media industry.
In addition, BBC is committed to promoting diversity and inclusion in all aspects of its operations. This includes ensuring that programming represents a diverse range of perspectives and experiences, and that the organization's workforce reflects the diversity of the communities it serves.
Importance of Planning
To plan for organizational goals, the BBC must take into account its unique position as a publicly-funded broadcaster and its commitment to providing impartial news coverage.
To begin the planning process, the BBC must first establish its strategic objectives. These objectives should be based on the organization's overall mission and vision, as well as its values and guiding principles.
Once the strategic objectives have been established, the BBC should develop a series of measurable goals that support each objective. These goals should be specific, measurable, achievable, relevant, and time-bound (SMART).
AC 1.3Main products and Primary Customers
BBC provides a wide range of products and services across multiple platforms. Here are some examples of the firm’s main products and its primary customers:
Main Products:

  1. Television: BBC provides a range of television programming, including news, current affairs, drama, entertainment, and documentaries. The organization operates several channels.
  2. Radio: BBC operates a range of radio stations, including national stations such as BBC Radio 1, BBC Radio 2, BBC Radio 3, and BBC Radio 4, as well as local and regional stations. The BBC's radio programming includes news, music, drama, and other genres(Ganter et.al, 2020).
  3. Online: The BBC's online presence includes its website, BBC iPlayer, and other digital services. The organization provides a range of content online, including news, entertainment, educational resources, and online courses.
  4. International: BBC provides programming and services to audiences around the world, including its international news services, BBC World Service radio station, andBBC World News television channel.
    Primary Customers:
    UK Audience: The BBC's primary customers are the audiences in the UK, who consume the organization's programming across multiple platforms.
    International Audience: BBC also has a significant international audience, particularly for its news and current affairs programming (Juan-Luis, 2020).
    Advertisers and Sponsors: While BBC is primarily funded through the UK license fee, the organization also generates revenue through advertising and sponsorships. Advertisers and sponsors may target specific audiences or programs on BBC's platforms.
    BBC Market segmentation
    BBC uses market segmentation to identify the unique needs and preferences of different groups of viewers and listeners. This allows the organization to create content that resonates with specific audiences and to build strong relationships with its viewers and listeners. These include:
    • Demographic Segmentation
    • Geographic Segmentation
    • Psychographic Segmentation
    • Behavioral Segmentation
    • Socioeconomic Segmentation

References:
Ganter, S. A., Herzog, C., & Milton, V. C. (2020). Public service broadcasting-friends groups as a microcosm of public interest media advocacy. Humanities & Social Sciences Communications, 7(1) doi:https://doi.org/10.1057/s41599-020-00560-5
Juan-Luis Manfredi-Sánchez. (2020). Globalization and power: The consolidation of international communication as a discipline. review article. [Globalization and power: The consolidation of international communication as a discipline. Review article] El Profesional De La Información, 29(1) doi:https://doi.org/10.3145/epi.2020.ene.11
MacLennan, A. F. (2018). Private broadcasting and the path to radio broadcasting policy in canada. Media and Communication, 6(1), 13-20. doi:https://doi.org/10.17645/mac.v6i1.1219
Rivera Otero, J. M., Nieves LagaresDíez, &María Pereira López. (2021). Transparency policies in european public broadcasters: Sustainability, digitalisation and fact-checking. Social Sciences, 10(6), 217. doi:https://doi.org/10.3390/socsci10060217

2 years ago in #bbc by
$0.00
    Reply 0