Chae will be divulging into the future in two predominant ways; discussing the future in reflection of BCM325 material on our podcast and creating a 5 year plan that foresees where we want our business to be and how we want to conquer the small business economical regime whilst it ‘takes-off’.
We have decided to create a podcast due to the recent overwhelming evidence of their rising popularity due to the current pandemic. The reason we have decided to do podcasts is because of their benefits in creative production such as ease in consumption, portability and personalisation. Particularly as we are planning as per our production timeline to release weekly, our interaction should be heightened.
Chae aspires to grow the ‘student insights’s features within our magazines as small business representation. Recent research has shown us that the small business regime is a growing powerful phenomena, “The various positive changes taking place in the economies of countries are inextricably linked with the development of small business and private entrepreneurship.” (Ismoilov, 2020). We believe committing to small business representation will be beneficial for our brand considering these trends.
The five year plan we aspire to implement has been guided by business academics that stimulate us with the ‘five stages of business growth’ (Churchill & Lewis, 1983) where we currently reside in the ‘existence’ stage. Therefore our current concerns are “obtaining customers and delivering the product or service contracted for.” however we will maintain guidance via a business framework which will embody our report for the 5 year plan.
- Ben, (2021) “Why Are Podcasts so Popular in 2021?” Brandastic
- Churchill N & Lewis V (1983) “The Five Stages of Small Business Growth” Harvard Business Review https://www.researchgate.net/profile/Virginia-Lewis-5/publication/228315536_The_Five_Stages_of_Small_Business_Growth/links/00b495163f77e0bf82000000/The-Five-Stages-of-Small-Business-Growth.pdf
- Ismoilov R Et Al, (2020) “The Essence Of Small Business And Private Entrepreneurship And The Theoretical Basis Of Its Development” The American Journal of Applied Sciences. https://www.usajournalshub.com/index.php/tajas/article/view/657/616
- LearningTimes, (n.d.) “At A Glance: 7 Benefits of Podcasting” LearningTimes
- VComply, (2017) “Developing A Small Business Framework” VComply