Business Talent Group (Btg) Growing The Market For Independent Business Talent Case Study Solution
Risk Associated with Startup Pioneering a New Market:
The main risk associated with the startup pioneering a new market is anticipated with the threat of new entrants, which will lead towards a decrease in price which ultimately lead towards the low profit margins for the company and its stockholders(Gurumurthy, 1998).
Risk Associated with the Entrance an Established Market:
Coming up next is an agenda of the fundamental dangers experienced in any business adventure. This is not proposed as an extensive or thorough rundown, as most of them rely upon the particular conditions of the business. It additionally is not intended to dishearten the owner and the organization from entering new markets. It is, be that as it may, a helpful method for animating the contemplating potential dangers in the organization's business tasks. Furthermore, by recognizing these dangers, the organizations can begin arranging how they can be improved or moderated(D'Alimonte, 2012).
Business Talent Group’s Approach, Model and Culture:
The mission of Business Talent Group (BTG) is "to unite the world's largest organizations and free the experts to upgrade business execution and improve individuals' lives". Although Business Talent Group (BTG) experienced some early opposition from organizations that were distrustful about the thought and quality of the ability of independent talents. It did not take long for the Business Talent Group (BTG) model to pick up the equilibrium in the financial crises of 2008 and 2009.
The organizations were progressively persuaded of the offer related to using the top of the line, independent talent in business, and the market for free experts developed quickly. As anyone might expect, this development pulled in a convergence of new challenge. "Business Talent Group: Growing the Market for Independent Business Talent" investigates the difficulties Business Talent Group (BTG) spearheaded the market for top of the line business ability in the U.S.
For almost 10 years, Business Talent Group (BTG) did the truly difficult work to build up the market for top of the line, free business ability. However in the year 2017, the organization wound up enduring an offensive trend from the variety of new companies with profound monetary pockets. Mr. Jody Greens tone Miller and its co-founder Miss Amelia Warren Tyagi realized that Business Talent Group (BTG) needed to keep advancing in order to hold its status as a market head.
Pros to Target Large Corporations:
The biggest advantages to target the large corporations are:(Sanders, 2016)
- They are our client for plenty of their businesses, because large organizations might have the foundations, trust, other types of entities and subsidiaries and corporate business which require the financial and state planning.
- Large corporations helps to make the family relationship, which provides a positive working environment in the corporation.
Cons to Target Large Corporations:
The biggest disadvantages to target the large corporations are:(Sanders, 2016).
- Prospecting will not be the priority because all the activities would be carried out by the same people or organizations.
- Targeting the large organizations will limit the scope to target other sectors.
Pros to Target Small Corporations:
The biggest advantages to target the small corporations are:(Thompson, 2019)
- High innovation because the large users and customers will help to create different needs and demands, ultimately providing more chances to grow.
- Becoming the customer service brand, and more focus on getting the loyalty of the customers.
Cons to Target Small Corporations:
The biggest disadvantages to target the small corporations are:(Thompson, 2019)
- Ever changing customer needs are the biggest problem for the company, which increases the complexity in the working environment and will increase the operating cost for the company as well.
- High chances to get rejected when the company would innovate some new products and services.
Work Schedule and Risk Associated with Employees Ability:
Yes, the Business Talent Group (BTG) should provide the same flexible work environment and schedule to their employees, as their model provides to individual talent because flexible working environment helps to mitigate the risks associated with employees’ working abilities.
Mr. Jody Greens tone Miller and its co-founder Miss Amelia Warren Tyagi believe that the way in which people work in an organization, and the way in which organization uses their talents are changing day by day due to several reasons. High class business end professionals are growing sleepy because they are following the notion that in order to become successful in his or her career, 60 to 80 hours work per week is necessary to have, otherwise, they will not be able to survive in the industry and would lose their jobs to new entrants.
In order to mitigate this risk, the company should introduce different as well as smarter ways of getting the work done with less time consumption as well as less cost.Otherwise the corporation will face less motivated employees and higher operating cost.
Exhibit 1: Two Sided Marketplace Framework
Exhibit 2: Six Steps to Build the Two Sided Marketplace Corporate Culture
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