Executive Summary
This presentation highlights different aspects of my firm. The Headhunting firm would be located in Riyadh, Saudi Arabia. Having discovered that most companies need qualified people to work for them, my firm would conduct recruitment activities on behalf of other firms seeking to fill vacant positions.
The firm would carry out a thorough interviewing process in order to select suitable, highly qualified candidates with the capability to perform duties assigned to them effectively. The firm would therefore offer quality services to other firms that would like to hire employees.
Key Partners
For any business organization to succeed and run its activities effectively, business partners are important. This creates the need to invite key partners who assist in provision of specific goods and services. The company would require other companies to provide web design and IT services.
They would also be mandated with the responsibility of maintaining the website and supplying it with vital data. In addition, the company would require websites like Monsters.com to provide data on human resources. Job boarders like LinkedIn would also be crucial. These are basically the key partners that the company would require.
Key Activities
One of the most important activities that the company would carry out is to find executives for potential employers. This would be done through human resource websites and job boarders. This method would be helpful to the company since it would reduce costs. Reduced costs would consequently lower commission rates, something that would increase the competitiveness of the company.
Marketing would also be an important activity of the company in order to inform potential clients and employers about its products. Social media is an effective marketing tool hence the company would combine it with verbal messages to promote its activities. Another important activity that the company would perform is carrying out interviews to get the best candidates to fill vacant positions in other companies.
Key Resources
The firm would use two important resources in order to carry out its activities. The first resource that would be of great importance is the firm’s website. Advancements in technology have made it convenient for firms to communicate with their potential customers and enlighten them about services provided through their websites. The second important resource for the firm is its information database. This would ensure that clients are provided with high quality services due to availability of adequate data.
Value Proposition
The company would concentrate on value proposition by ensuring that it hires candidates with the right professional attributes for other firms. This would enhance credibility of my firm among potential clients. Value proposition would also be achieved through charging lower commissions as compared with my competitors in the market.
This would encourage more clients to use my services over those of other firms. Finally, value proposition would be achieved through a fast recruiting process since my firm would access a large database of information. This would ensure that my clients get the services they require within a short duration of time.
Customer Relationships
The firm would ensure that there are good customer relationships for the customers to feel satisfied. This would be achieved through personal assistance to customers when they require help. In addition, charging low commission rates would build good customer relationships. Good customer relationships would make my firm one of the best firms in Saudi Arabia.
Channels
The firm would make use of three channels in order to inform potential clients of its services. The first channel that would be used is social media since many people use it on a daily basis. The second channel is word of mouth, which is effective and convincing while the third one is the use of sales representatives. These three channels would give the firm adequate publicity.
Customer Segments
The company would be comprised of two major segments namely job seekers and employers. TMQ agency would be responsible for providing recruitment services to job seekers and employers in different industries among them travel and leisure, information technology, shipping and aviation, banking, engineering, accounting, health, trade and distribution, and marketing among other industries.
Cost Structure
The cost structure of the company would be divided into the following components:
- Salaries for employees, which would include sales representatives, interviewers and people who would search jobs and march them with candidates.
- Cost of implementing the company’s marketing strategy and buying space on social media websites.
- Cost of outsourcing web development and maintenance services to ensure that the company has a professional website that is updated regularly.
- Costs of renting an office and commission rates would be reduced since the company would mostly work online.
- The company would incur general administrative costs among them traveling and contracts expenses.
Revenue Streams
The first way through which the firm would generate its revenue is by charging individuals who would get jobs through the company. They would be charged a commission of 8-10 % to generate income for the company. The second stream of revenue would be the consultation services offered to clients.