This will be the strategic analysis of the compensation system of Sonic records and the subdivision that has been newly established, E-Sonic as an online music store. The development of the analysis guides all the decisions in regard to the compensation system we are to create. The analysis of the company has reveled challenges that are “firm-specific”, many objectives, and the initiatives that will hopefully align E-Sonic in a way that meets their goals of a composition system with effectiveness within the business environment. as well as the challenges E-Sonic may face on top of their internal capabilities; Aiming for a better competitive system.
During the examination of external market challenges, for example industry profiles, foreign demand, competition, labor market assessments, and long-term industry prospects, as well as the capabilities Human Resource and internal functions, E-Sonic has the ability to become a world leader in a growing market, the online music industry. The study has determined their overall influence with the distribution of music online, as E-Sonic blazes a trail into an industry that is ever-changing and growing with new approach to software and marketing
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E-Sonic’s external market environment has been faced with an issue of declining demand for music in CD’s format; therefore, it is in the company’s best interest to shift the focus of their company and develop a new business model. Internally, the current management has little to no experience in software development or management of an online company. Recruiting talent would aid in moving the company forward to the next level. By creating a competitive and inviting compensation system, it would attract and retain the proper talent needed for the success of the
The music industry can trace its roots to the 18th century when classical composers such as Wolfgang Amadeus Mozart sought commissions from the church or aristocracies by touring to promote their music (Boerner). By the early 20th century, recorded collections of songs were available for purchase for home listening. Towards the middle of the century, record album production had become the norm for getting new music to the masses and album sales had replaced sheet-music sales as a measure of popularity, with the first gold-recor...
Pfanner, Eric. "Music Industry Sales Rise, and Digital Revenue Gets the Credit." Business Day Technology. The Nre York Times, 26 Feb 2013. Web. 21 Mar 2014.
Recruitment strategies for the company will be arranging the group interaction with talented and interested candidates, handpicking the dream candidates, actively searching the profiles of each candidate, attracting the candidates through different attractive offers (Cohen, & Cohen, 2007).
Polyphonic HMI, a subdivision of Barcelona-based Grupo AIA, is charged with applying the parent company’s artificial intelligence and natural science ideas and products to the music industry. Grupo’s major strengths lie in these areas and have led to the development of several successful and innovative tools used to solve all types of business problems across different industry sectors. Polyphonic, Grupo’s first entertainment-based subsector, is releasing Hit Song Science (hereafter HSS), a software used to predict the potential success of songs by mapping their mathematical properties and matching those to previous hits. However, Polyphonic is facing a series of problems. Two stand out: one, they have no identifiable target market. Two, Polyphonic has no defined marketing approach on which to launch their original product offering. This report will address, analyze and make recommendations for solving these challenges.
Music is universally known as an expression of emotion, rebellion against the man, a way of life, a random collection of sounds, an annoying thing kids listen to, or even a vacation from everything, but in reality music is free of all definition. The industry involved in buying, selling and recording of music has grown so old, treacherous, and ignorant that it can not figure out the steps it needs to evolve with the rapidly expanding music industry. Musicians and fans alike are screaming about the dire need of some modern day innovation in the market. Sadly the monstrous corporations that dominate the market have put a lid on the competitive edge, stopped the innovative changes any smaller companies can make.
Spotify’s Time. (n.d.). Music Business Journal Berklee College of Music RSS. Retrieved May 21, 2014, from http://www.thembj.org/2014/05/spotifys-time/
An “analyst” was quoted in the case (in 2002) as saying that “people will pay for music on the Internet, eventually.” This person was skeptical of the willingness of consumers to pay for
What do dinosaurs and super sonic passenger jets have in common? They are both extinct. When the realistic thought of supersonic passenger travel was first introduced in the 1950s, it seemed like a compelling breakthrough in the field of commercial aviation. During this era, American manufacturers created a competitive advantage at the end of the World War II, an advantage that has survived to the present day. For all practical purposes, US technology since 1945 has set the standards for international air operations.
The music industry is an ever-evolving revolutionary entertainment industry for the masses. Music provides entertainment to all different masses due to the variety of genres produced. Music is a very profitable and complex industry. Music has expanded to a worldwide industry for musical artist to express their art through the form of song to the masses. Music not only appeals to the ears but to every aspect of a person. Music allows for individuals to explore and let their imagination expand as they here a song. Throughout the years the industry has undergone dramatic changes. Whether it is genres, forms of how it is distributed, or even the impact the artist have had. The industry is diverse and ever changing as the years continue. In the past 20 years the industry has changed with help of the technological breakthroughs and adoptions.
Introduction: In the past, music has been a costly business, where only people with a lot of money could enter and be successful in the industry. Changes in the music industry, coupled with new computer technology, have made it much easier for people without a lot of money to compose, produce, and distribute their creations. In order to get a better understanding of the music industry in comparison to 2014, one has to look at its history. There were many things that happened from the 1980’s onward, and they brought on a significant impact towards the music industry.
There are six key new market disruptions concerning the digital distribution of music: the creation of a new and broad customer base, the possibility of an annuity versus a per-unit revenue model, the gatekeeper advantage for a record company having proprietary access to a new digital distribution infrastructure, understanding of a technology that could be applied to other digital content, need for balance between physical and digital distribution strategies, the strategy the incumbent should adopt with respect to the evolving war over digital distribution standards. Was there a disruption or an evolution?
Recruitment questions for large operational startups include, what are the jobs, how is the employment market today, what is our competition locally providing, how can we get the best talent and finally how to do we retain them. The challenge for the Borgata was multi-faceted, a tight labor market in the surrounding area, a small local population of 40,517 of which only 63% where capable of working and the need for 5000 workers to staff the hotel in short time. (US Census Bureau. 2012). To compound the challenge the quality expectation was high, the “best of best” was required. Once applicants were enticed to apply and applications were received, the question became how do quickly identify the candidates to a manageable qualified number? How do we ensure the interview time is appropriate and effective for unto a hundred different job descriptions? To begin this monumental task of recruiting applicants, screening quickly for the appropriate criteria research must be conducted. Development of strategic hiring plans, tasks assigned to appropriate individuals and accurately executed with a c...
Hiring an individual is simple, but getting the right individual takes a lot of effort and this makes a big distinction. The finest workforce gets the work done, they are bliss to supervise and assist the organization’s development. Recruitment focusing on merely employing warm bodies could result in headaches and unexpected setbacks. Sudden hire might need hours of management and time used up in control, retraining in addition to terminat...
Beginning with one restaurant, Sonic has become the largest drive-in chain in the United States. While they are smaller than their competitors, they are still leading in sales growth, customer loyalty and customer satisfaction. Sonic restaurants saturate the southern U.S. This gives them the opportunity to expand to other area. However, Sonic is reluctant due to the colder climates and their basis as a drive-in restaurant. Sonic should look at adding or combining capabilities to it’s restaurants to increase competitiveness and make it easier for them to expand into other areas without limiting themselves.
The music industry started in the mid 18th century with Wolfgang Amadeus Mozart. Through the decades there has been a great increase in this industry; however, the revenues for this industry have declined by half in the last 10 years. This has been caused by music piracy, which “is the copying and distributing of copies of a piece of music for which the composer, recording artist, or copyright-holding record company did not give consent” . After 1980’s, when the Internet was released to public, people started to develop programs and websites in which they could share music, videos, and information with...