Strengths, Weaknesses, Opportunities And Threats Of The Ideal Home Show As An International Organization And Barriers For Launching Event In Singapore

Discuss the strengths, weaknesses, opportunities and threats of the Ideal Home Show

Event organization is the process of planning by application of project management skills and strategies to create and develop an event such as music award festivals, formal and informal parties, workshops, conferences among others. The process involves a lot of steps in order to achieve the stipulated image of the event. The process can be so challenging if not well planned by following all the required event organization stages that include; developing an event goal, organizing a team of qualified professionals to carry out the planning, set a date that will preferably give you adequate planning time, market your event by compelling themes that stand out to beat your competitors, create a master plan(Romero-Gutierrez, Jimenez-Liso & Martinez-Chico, 2016), determine administrative process, identify source of funds, define a means to publicize your plan. Institute your budget and describe a means of assessment on the success of the planning process and events outcome. Ideal home show is an international organization that aims at bringing together everything that makes an Ideal Home Show. It has realized so many achievements as it provides its services to stakeholders all over the world. Launching it in an oversee country in this case in Singapore may not be easy due to various barriers that obstructs its activities. The organization success is characterized by a number of issues of SWOT analysis.

Strengths

• Adequate resources. Ideal Home Show has a number of sponsors who greatly take part in provision of its funds to carry out its activities. Some include; Amtico, Avko Interior, Barclays, Hydropool UK Ltd among many others.
• Experienced event planning team. These are professionals who relevantly identify with their roles and duties to give planning services to the best of their abilities to achieve set goals of an event. Ideal home team is well experienced and well trained.
• Strategic management strategies have been applied in carrying out Ideal Home management activities as well as the formulation of policies that affect the set goals and objectives.
• Technical advancement. With the modern society and in the business world, technology is what influences the outcome of any firm and the ideal home show has relevantly adopted the technical advancement.
• Marketing mix team strategies have also worked well for the organization. The clients through awareness by the team are able to connect with the developing activities and is also important to enhance their brand name.

• Destruction of the organization property in case of conflicts.
• Lack of contracts to give their services in the most developed countries.

• Health competition from other related home show organization also helps in motivating the team to achieve more and be the best resulting to its development.
• Health economic market where ideal home show equipment’s are available and at affordable prices.
• Favorable legal requirements that are easy to access have also been a key factor for the organization to carry out its activities without legal conflict.

• Diverse international marketing policies that are not easy to conduct.
• Increased insecurity in some oversee countries as a result of increased political and social violence making it hard for Ideal Home to venture in to some countries.
• Increased conflicts with the legal authorities due to lack of legal permits in some countries also is a threat to the organization..

Background of Ideal Home Show

Ideal Home Show (IHS) was established in 1908 by a newspaper by the name Daily Mail to be used as a publicity tool of the newspaper to help increase the paper’s marketing revenue. At this time when the organization was laying its foundation, most of the British public used to rent homes other than owning their own but this changed with time as their living standards positively improved (TINSMAN, 2011). It was not a common thing to all common people and even the visitors and the houses that were built at the show as well as the fanciful gardens that were made overwhelmed them all. The show developed with time and in the 1930’s it became even more famous after introducing new inventions and excellent collection of gadgets thus becoming a launching pad for many other products. Among the many inventions by the ideal home show and the introduction of home, gadgets are an electric kettle, toaster, and vacuum cleaner among many others that work well for an ideal modern home (WIGGINS, MCTIGHE & WIGGINS, 2012). The Ideal Home Show has made a lot of achievements and currently held shows in Manchester, London and Glasgow where they showcased and sold fittings from kitchen ware, garden decorations, and bedrooms to sitting room fixtures, fashion, and beauty among many other enhanced commodities. Among the many esteemed clients who have shown interest in the organizations’ activities are the HRH Queen Elizabeth royal family who has visited the show for eleven times and many other renown celebrities. In the year 2008, the company restructured in terms of ownership and is now owned by the company known as media 10 and performs well in the industry.

Evaluate the barriers an international event organization would face when launching in Singapore

Singapore is one of the major countries in the Asian continent with its capital market as the most international. Being a multiculturalism country, different cultures and people from different ethnic backgrounds are the ones that characterize the country’s population of about 5.54 million and with total land area of 719.1 sq km. The official languages are English that is the language of administration and Malay as the national language, their main trading partners are China, Malaysia and Indonesia among others. The country is known for its pro-business policies and well-structured legal system of governance in the cooperate world. The country has evolved to form an excellent partnership in business in the world with international companies that are relevantly doing well, example, the Seafood International Market and Restaurant and Nexia International Limited among others. For any new organization to launch its economic activity in Singapore, it has to be through International Marketing Activities Programme to understand their requirements, time and status activities.

Ideal Home Show as an international organization is bound to follow all set ethics in order to achieve set goals for an event. It has been doing well over the years and is termed as one of the most prominent home shows in the world. Sponsorship and a well-structured target market have been among the contributions of its success. Its activities and achievements are bound to its set policies and aims. Launching IHS in Singapore would, however, be a bit challenging as it’s an oversee country that has a different system of governance and with a wide range of stakeholders bound with different values, beliefs and norms but under the same constitution (ALLEN, 2011). These barriers are critical to obstruct IHS planning process for a given event in Singapore and should be relevantly solved to allow the organization achieve its goals.

These are the obstacles that Ideal Home Show faces in Singapore market preventing it from achieving its goals. These can be as a result of both internal and external factors as follows;

• Inadequate information about the Singapore market on event organization. In all developed and developing countries, market strategies and policies are well set to ensure that developed activities are well enhanced. Lack of adequate information by the IHS about the Singapore market may result to irrelevant disqualification by the country’s legal authorities to conduct its activities resulting to losses and embarrassment of the organization as a whole.
• Marketing challenges. Marketing processes in most regions are different. With different groups of people in Singapore, marketing may prove to be a challenge to the Ideal Home show teams as adopting the local designs and styles may not be as easy, standards as well as specialization.
• Inadequate factors of production. These are labor, capital and production mean. Insufficient quantity of trained personnel in Singapore market with marketing, managerial and organization process may be challenging towards achieving set goals. Inadequate finance to supply IHS services to the market results in the failure of the Singapore market expectations of the process resulting in loss of trust in the international market.
• Communication barrier. The Singapore’s national language being Malay it’s not known to many visitors in to the country making it hard for people to understand each other even in the business market.
• Lack of long term goals in the international market is also another barrier facing ideal home show in the Singapore market. Every event organization and team should have long term aims that would help in achieving the stipulated long-term goals of event organization profession The short-term are only for one event while long-term affects all events carried out by the organization and the assigned team

These are relevant recommendations that are enhanced to solve international market barriers in event organization sector;

• Use of Logical –Framework. This is a technique that involves the planners of an event to be specific of their cause and effect during their planning course and clearly states all the assumptions. The top of the framework illustrates a clearly defined organization goal why the lower part illustrates why, when and how to achieve the set goal. The internal management of the organization should illustrate or give a direction on how to carry out the processes of achieving the goals and how to solve issues that may arise during the process.
• Application of Comparison Matrix. This is a planning technique that involves comparison of several options may it be in means of communication, marketing strategies among others. This helps to influence the means of coordination and control of the event organization by illustrating how one option compares with the other in the market and the benefits that come with it in regard to set goals.
• Effective and efficiency marketing mix teams. The International market involves a lot of different marketing strategies that may at times result in confusion if not well researched on. Use of experienced marketing mix team individuals would help in carrying out affecting marketing strategies. This is important in an international market deployment of incentives that enhances its development activities.  
• Team motivation terms. Invent organization teams should be taught on how to curb the many barriers in the international market that affect them. Training to act as main role players in the market to understand and interpret problems that affect the process would be motivating them to perform in a better way, to help solve the communication barriers as they learn the different languages in the market.
• Government policies to enhance field analysis. These are policies imposed by the legal authorities to help organizations identify restraining forces that affect them from setting and achieving their long-term goals. Example, the issue about age and ability to produce in the international market is not observed and should be since it involves people, capital, and production.

A marketing plan is a well-written document that consists of well-written strategies of how an organization carries out its responsibilities to achieve the set goals (ALLEN, 2011). A well-written course with strategies on how to achieve the goals set, strategies followed budget according to resources available, measures of control and how to evaluate the success of the organization. Incorporating the 5ps and 7facets in event design has been a key factor that has enhanced the process of event organization in the international market. The 5Ps includes the product, in this case, the event, the price of the planning, place is where the event planning takes place at, public relations how the process relates to the stakeholders and positioning that involves the level of service quality given to the event owner (WILKINSON & KANNAN, 2013). The 7 facets of event design are important in event organization in that it helps create an important image of the level of service

Outline Marketing plan for launch (general marketing plan focusing on 5 Ps or for more marks with 7 Ps)

Launching an event overseas, catering, content, entertainment, environment, production, program and theme are important in achieving the events set goals. Any given target population in an event organization it’s important for their preferences to be as well incorporated while making decisions that affects them(ZERBE, HA?RTEL & ASHKANASY, 2008). A marketing plan is important to help the target population to understand the task force of the event organizations team. Increase in population in the event organization market results to an increase in relevance of the firm, catering involves the organization providing catering services to the target population, content is the context of the event, entertainment services provided for leisure to the target audience, environment involves the surrounding, production activities involve the steps taken to achieve the goals of a certain event and the program is the event itself.

Strategic theory in event management is important to help outline the process and achieve the set goals of an event organization. This is done by strategizing the planning priorities with the help of the team and the managers in relation to the available resources of carrying out the organizing process (ROBINSON, WALE & DICKSON, 2010).  In the case of Ideal Home Show launching in Singapore, strategic theory ideas on the need to prioritize on the objectives are key to help achieve the set goals. The firm characterizes its main goal, process, and outcome in relation to available resources as well as techniques to help achieve its goals in the international market.

Conclusion

The International market is an important and relevant basis to enhance global economy that is important for global development and cohesion. Event organization in a new oversee market should be incorporated with international event experts to help reduce the many challenges, like in a case of Ideal Home Show launching in Singapore , many challenges could be due to lack of information and ideas on how the market works. Legal policies to help reduce these challenges should also be put in place.

References

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