Introduction
Regal Entertainment Group is considered to be the American chain in the theater industry development of the country. It is a powerful corporation dealing with strong movie leaders of US cinematography. Regal Entertainment Group operates based on a diversification Ownership structure; the senior management is under the impact of easy changes through its consistent structure. Strategic development of the organization is concentrated on the motion picture industrial growth and opportunities consolidation through the construction of new theatres and existing base expansion with the involvement of new technologies.
Analytical analysis results
Analytical analysis of organization strategic management demonstrates the central mission directed at continuous improvement of business operations at the lowest risk. Financial support is reached through BGG Matrix usage; this opportunity is closely connected with the current market growth of the organization leading to financial prosperity. Regal Entertainment Group settles internal financial operations through the following basic issues: ticket sales, admissions, and business cooperation with other representatives of the theatre industry. It is necessary to underline the fact that organizational growth is stimulated by market share and position on the market. The expansion of business segments is reached through industry consolidating based on building new theatres, cooperating with other strong trends, and improving the quality of the service. The creation of joint ventures appeared to be an important step made to the industrial progress; the organization is to develop its strategies by technological involvement for market segments increase.
The development of competitive planning is to be connected with the analytical analysis of the organization’s principal competitors, such as AMC, Cinemark, and Carmike, which faced the problem of demographic challenges. The opportunity to adapt to innovational, technological, and market changes makes the organization take a leadership position among the competitors taking into account the fact that the weak economic climate on the international level affecting the cinema industry.
The maintenance of leadership position and increase of competitiveness is to be reached through the threats and weaknesses analysis of the competitors, being caused by new entrants, substitutes, buyers, and suppliers in the form of distributive agencies controlling the release of the company’s films. The central strategy to be involved in the organization’s management planning is aimed at opening new beneficial chains of products promotion and consumers; attraction. (Thompson and Martin, 2005).
Strategic Issues Ranking
The key strategies of Regal Entertainment Group impacting its competitive level are concentrated on the following steps and measures to be taken in management development:
- Strong advertising campaign;
- Service opportunities expansion;
- The enlargement of misc business activities.
It is necessary to stress that the strategic steps described above are to be outlined in the strategic planning of the organization, allowing having a privileged position among the competitors. Advertising is considered to be the basic step to balancing supply and demand within Regal Entertainment Group’s service promotion. One should stress that the organization management is to be built on effective service presentation to involve and increase the customers’ base by attractiveness, profoundness, and high quality developed by the company and expressed through a strong advertising campaign. The involvement of technological innovations and spread sources of information, as well as the media role, can contribute to the service promotion. (Drury, 2004).
The next step is dedicated to the organization’s expansion of its business opportunities, introducing additional sources of giving the service to the customers; it is necessary to underline the fact that the organization can provide wider access to the customers’ seeing the movies of Regal Entertainment Group. The consumers are to have opportunities to see the works of the organization; the involvement of the internet opportunities and the careful analysis of market segments with the partial involvement in the cooperation with their representatives can allow enlarging the sources of service supply, increasing the number of consumers, competitive level and position on the state market. The company Cash Cow can be analyzed as a concession, being aimed at costs covering and consumers’ market expansion through providing some additional products, such as food and drink.
The third step stimulating the competitiveness strengthening is considered to be concentrated on the ability to attract new consumers; this strategy can be reached through the introduction of additional misc business activities. This issue covers the following services: private screening, gift and credit card services, and easy access to the desired product.
Сonclusion
The ranking of strategies priorities appeared to be concentrated on the three basic strategic steps to be strictly followed for the company’s business effectiveness, industrial and financial growth. (Barney, and Hesterly, 2009)
References
Barney, J and Hesterly, W. (2009). Strategic Management and Competitive Advantage. Prentice Hall.
Drury, C. (2004). Management and cost accounting. Cengage Learning EMEA.
Thompson, J. and Martin, F. (2005). Strategic management: awareness and change. 5th Edition. Cengage Learning EMEA.