Description
Your company, Rasmussen Consulting, was hired by MovieFlix, a company that provides subscription service for on-demand Internet streaming media and DVD-by-mail within the U.S. You are the consultant that Rasmussen has decided to assign the MovieFlix case to.
To begin your assignment you will need to select one of the business problems described in the "Capstone Project Introduction" page of Module 01. (See below the options) You will complete this assignment in 2 parts. To complete your assignment, you will need to do the following:
Part I
- Research your business issue. You will need to use a minimum of 4 credible sources for your research, with 2 being academic sources, such as a book or an academic scholarly journal. Academic scholarly journals can be accessed through the Rasmussen Online Library. For business sources, ProQuest and EBSCO Host are helpful.
*A note about credible sources: Credible sources are reliable, accurate, and trustworthy. These sources are written by authors respected in their fields of study. You want to identify sources where the author of the article is listed, if they've referenced other information, the sources should be cited so that you can check for the accuracy of and support what they have written. Wikipedia is not considered a credible source. For more information on credible sources, please visit the Rasmussen Online Library.
In 2-3 pages, describe the problem that you've selected:
- What is the problem?
- Why is it a problem for businesses?
- Why does this problem exist or what causes it?
- What are some of the consequences if the problem goes unsolved?
- Remember to use proper tone in your paper. You are speaking from a "consultant" point of view. Your audience is the Leadership Team at MovieFlix.
- Make sure to write your paper utilizing proper APA formatting guidelines, and to include an APA formatted title page. Use NoodleBib to document your sources and to complete your APA formatted reference page and in-text citations.
Part II
Now that you've shown MovieFlix that you've adequately researched their issue it's time to write them a formal business letter to discuss next steps.
- Write a formal business letter from your company (Rasmussen Consulting) to MovieFlix. For your letter, you will need to follow proper business formatting guidelines and use "block letter formatting." Also, include an APA formatted title page
- Your business letter needs to be a minimum of 2 pages in length and must include the following:
- Let MovieFlix know that you have researched the issue and what your conclusions are for their company based on your research.
- Discuss latest developments surrounding the issue.
- Describe what the first steps will be in helping them to resolve their issue. Explain why it's important that these be the first steps and what your role will be in helping them to implement these first steps.
- Mismatch between the skills needed from employees and the talent available. There is a perceived shortage of talent in the market.
- Shortage of talented employees due to people finding employment overseas.
- Integrity - employees, and company executives have decided to cut corners, omit information, lie, steal, and deceive to get ahead.
- Cash, borrowing, and resources management - the company is having a problem managing their cash flow; capital expenditures and receivable collections are draining their cash.
- Increased competition in the marketplace.
- Marketing and Customer Loyalty - challenge to market to potential customers effectively and retain existing customers.
- Uncertainty - short-term focus due to economic uncertainty; lost focus with long-term planning in favor of shorter-term goals.
- Problem Solving and Risk Management - problem with identifying, assessing, and mitigating risks.
- Finding the right staff - finding the right staff, retaining them, and ensuring they buy into the vision of the business
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Explanation & Answer
Attached.
Running head: Business Problem
1
Course Project – Business Problem
Name
Rasmussen College
Author Note:
Business Problem
2
Business Problem
Part I
In the recent past, the role of consultants in businesses has started gaining popularity, and
this could be attributed to the increased business challenges, the need for professionalism as well
as the need for having creative solutions to the existing difficulties (Powers & Ogumoro, 2014).
This has led to the growth of Rasmussen Consulting company; the company helps organizations
in solving business-related problems to enhance competitiveness, and the current assignment is
based on helping MovieFlix overcome a business challenge to remain in business.
What is the problem?
MovieFlix is a company that operates in the entertainment industry, and it provides
subscription service for on-demand interment streaming media AND DVD-by-mail with the
United States. For the last few decades, due to technological advancement among other factors,
the companies in this industry all over the world are experiencing the same challenge with is
increased competition in the market. MovieFlix is not an exemption in this case, and the
company`s profits have significantly reduced due to the increased competition in the industry
and for this reasons the company must devise strategies that will enable it to remain outstanding
in the market. But before a solution can be offered there is a need for the company to understand
why the issue is a problem to the business, what is causing the problem as well as the
consequences that are likely to occur if the issue remains unsolved.
Why is it a problem for businesses?
The increase in the level of competition in the industry is becoming is becoming a great
problem for many businesses due to the following reasons. First, from the increased competition,
which is an external factor, business starts experiencing internal problems, which affects how the
Business Problem
3
entire organization operates. For example, the increased competition in the market is likely to
cause of customers not paying for their debts since they understand...