Cirque du Soleil is a company famous for organizing the public entertainments. The headquarter of this group is at Montreal. The company was established in 1800s. This is a popular public entertainment group which is touring all over Canada. Apart from that the group is also performing in USA and Europe. It has been realized by the mangers of the group that the implementation of the information technology is important for enhancing the creativity, imagination and inspiration of the group. In order to implement the information technology system for managing of the business of the group, the top management has to be convinced that there is a need for the advanced implementation of IT.
Initially the group had no IT team of its own. The solutions were hired from the experts and the professional. This enhanced the communication between different members and the management of the Cirque du soleil. Moreover the use of the information technology had enhanced the flexibility in arranging shows and tours. Later the group has its own IT team. This entertainment group has later well equipped IT solutions of their own which has helped the group effectively in arranging the shows and running and managing of the business in an improvised way. Apart from the successful implementation of the information technology in the Cirque du soleil, the management was also concerned about the proper management of the knowledge within the Cirque du soleil. The company has faced challenges and issues during the arrangement of the shows before the implementation of the information technology. These issues have been handled and mitigated by the company through the implementation of the information technology and using IT for different services during the arrangement of the shows. Some of the identified issues those were faced by the Cirque du soleil before the implementation of the proper information technology plan in the Cirque du soleil are-
The analysis of the current position of the Cirque du soleil can be done through the use of the different frameworks. In this case Porter’s five forces has been used to understand the market position for the Cirque du soleil.
Threat from new entry: the threat from new entry in the industry is high for the Cirque du soleil. Recently the entertainment industry is growing rapidly. Many companies are investing their money in the entertainment industry. In this situation the number of companies are increasing in the entertainment industry. In this case they are providing innovative performances to the audiences and the uniqueness in the ideas are giving them the success. In this situation Cirque du soleil has to provide better performance and the modification and the improvisation of the performance is needed to be done in a proper. This will help the Cirque du soleil to hold its place and goodwill in the competitive market.
Bargaining power of buyer: Bargaining power of the buyer in this case is moderate. The entertainment industry is booing sector. However, the shows organized by this industry is still relevant to the certain amount of people. In this case bargaining power of the people is medium. however, with the growing participation of different companies in this industry has made the consumers to choose from the various options.
Bargaining power of the supplier: In this case the supplier is the Cirque du soleil itself. The Cirque du soleil is responsible for presenting their creations to the audiences. Currently Cirque du soleil has acquired a good position in the entertainment industry. In this situation they can demand a good amount of money from the sponsors for organizing the show. The bargaining power of the supplier in this case is high.
Threat from substitution: The threat from the substitution is moderate. Entertainment industry can be considered as a dynamic industry. Moreover the demands and the requirements of the consumers are changing rapidly. In this situation new companies are improvising themselves according to the demand of the consumers. Apart from that there are various forms of arts and crafts are using the in the entertainment industry. Apart from that the growing influence of the social media and other digital media is also influencing people to get stick into a particular type of entertainment medium. All these factors can be threats for the expansion of the business of the Cirque du soleil in this situation it can be said that the threats from the substitute forms of medium is high for the Cirque du soleil.
Competitions between different companies: the competitions between different companies in this sector is medium. There are various number of companies. However, the competition is happening between some of the best companies in this case. So the level of competition the Cirque du soleil is facing with other is medium.
Another framework that can be discussed for the development of the overall situation for the Cirque du soleil is resource based view framework. Resource based view is used to achieve the competitive advantage for an Cirque du soleil.
The main objective for the Cirque du soleil to achieve the competitive advantage through exploiting the resources and capabilities. The main advantage of using the resource based view is that it is much flexible than Porter’s five forces.
Using the resource view framework Cirque du soleil can categorized the resources into tangible and intangible resources. Tangible resources in the Cirque du soleil are the human resources, the servers used in Cirque du soleil and the different software those are responsible for the enhancement of the performance by Cirque du soleil. The intangible resources are the work culture of Cirque du soleil, the goodwill of the Cirque du soleil in the industry.
After the identification of the resources it is important for the Cirque du soleil to evaluate the value of those resources. This can be done if those resources can justify some of the parameters. These parameters are valuable, rare, imperfectly imitable and non-substitutable. In Cirque du soleil the human resource can be considered as non-substitutable as the performing art can not be done by the artists. Apart from that the large implementation of the information technology for managing the functions of the Cirque du soleil is not an easy task. In this case this can be identified as imperfectly imitable. The goodwill of company is valuable or the image of the company and this also has a positive effect on the expansion of the business of the Cirque du soleil. Apart from that the good working culture is a positive thing for the company which is a rare quality. It can be said that all the identified tangible and intangible resources in Cirque du soleil are important resources and exploiting all these resources in a positive way can give Cirque du soleil a competitive advantage.
The recommendations for the further improvement of the overall situation for the Cirque du soleil can be categorized into three categories. The recommendations can be made on the short term, long term and medium term goals.
Short Term goal: The short term goal for the company is to improvise the performing arts. In order to do this Cirque du soleil can use different technologies for the improvisation of the art and craft and the creating different features.
Medium term goal: The medium term goal of the company is enhance the profit from the business. In order to do this the overall modification and the improvisation of the business are needed to be done. Apart from that proper survey can indicate the demand of the consumers.
Long term goal: The long term goal for Cirque du soleil is to hold the best position in the competitive industry. There are other companies present in the industry who are doing well in the performing business. In order to hold the better position in the market the Cirque du soleil has to do some unique things in the performing art those are not practiced by the other companies. This will help the Cirque du soleil to hold the attention of the audiences and will give them the competitive advantage.
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