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MOVING A COMPANY MOVING A COMPANY FORWARDFORWARD

Team 2 Team 2 ProjectProject

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WRITING A BUSINESS PLANWRITING A BUSINESS PLAN

Why CfMC

Why the Business Plan Far beyond the scope of this project, but a

business plan encompasses all the elements

of leadership and management Goals, Strategy and Tactics

Who we are

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Robert BiermanRobert Bierman

John MaxsonJohn Maxson

Mila KudrjasovaMila Kudrjasova

Helen LimanHelen Liman

Narongwit Narongwit ThamwarakulThamwarakul

INTRODUCTIONINTRODUCTION

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Who is CfMC

SWOT

Competitive Analysis

Marketing Plan

Focus on what works for CfMCTraditionally, CfMC’s weakest areas have been business management, vision and strategy, and internal business processes.

OUR FOCUSOUR FOCUS

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Founded in 1967 by Leif Founded in 1967 by Leif Gjestland, Gjestland,

Charlie Yarbrough, and Joe Charlie Yarbrough, and Joe WeismanWeisman

22ndnd oldest market research oldest market research

software company.software company.

Wrote and sold first tabulation Wrote and sold first tabulation program program

using punch card technologyusing punch card technology

11stst Employee hired in 1968 & still Employee hired in 1968 & still

works for works for CCffMCMC

HISTORYHISTORY

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19671967 Introduce the first computerised tabulation program

19761976 Market first commercially available CATI system

19811981 Installed first interviewing system to run on PCs

19861986 First to implement auto-dialing for an interviewing system

19881988 Installed first predictive dialer, at Nielsen Media Research

19891989 Installed Survent CATI system on a Novell network

19951995 Introduced soundSurvent to record interviews and to play

sound during interview

19971997 Introduced webSurvent for online surveys

20042004 Introduced webCATI for browser-based CATI interviewing

MILESTONESMILESTONES

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53 Employees in 5 Locations: San Francisco (Hdqt), New York, Denver, Atlanta & Cambridge (UK)

Average length of employment – 18 years

Casual and family-like atmosphere

Focus on work-life balance

CULTURECULTURE

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PRODUCTSPRODUCTS – webSURVENT – webSURVENT

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webSurvent makes it possible to conduct interviews and surveys via the Internet. webSurvent utilizes Internet capabilities, such as broad page size, 3-D graphics, video and still images, sound and animation.

webSurvent allows the researcher to harness the

power of the Internet with the research functionality of CfMC’s CATI product, Survent (sample selection, logic management, value rotation, back-referencing, data generation, quota control, system information, and other complex features not usually supported in web-based applications.

PRODUCTSPRODUCTS – webSURVENT – webSURVENT

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PRODUCTSPRODUCTS – CATI – CATI

Presents survey to a telephone interviewer

Used in call centers

Collects the data

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THREATSTHREATS

WEAKNESSEWEAKNESSESS

OPPORTUNITIOPPORTUNITIESES

STRENGTHSSTRENGTHS

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Reputation:Reputation:

Experienced - Among the Industry’s Oldest and Most Reputable Firms

Innovative - First to develop and offer key products and services

Competitive -Industry Player - 30% of

Market Share

High Profile - Prestigious Clientele

STRENGTHSSTRENGTHS

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Technical SupportTechnical Support

World Class 24/7 – anytime anywhere

Real People

Key competitive advantage

STRENGTHSSTRENGTHS

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Software:Software:

FlexibleFlexible – custom made software for – custom made software for specific client’s needsspecific client’s needs

PowerfulPowerful – robust capabilities that – robust capabilities that exceed off the shelf products exceed off the shelf products

UniqueUnique – interfaces with other – interfaces with other companies’ products (compatible codes) companies’ products (compatible codes)

ProprietaryProprietary - utilitarian - utilitarian

STRENGTHSSTRENGTHS

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STRENGTHSSTRENGTHS

Unique Pricing Unique Pricing StrategyStrategy

Exceptional TalentExceptional Talent

Reputable Niche PlayerReputable Niche Player

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Technically Complicated Technically Complicated ProductsProducts

WEAKNESSESWEAKNESSES

Management Management

Resistance to Change Resistance to Change

Organizational Organizational StructureStructure

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Expanding scope of services (hardware integration with software)

OPPORTUNITIESOPPORTUNITIES

Product Enhancement

Global Markets

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Market Consolidation – Potentially Market Consolidation – Potentially

Stronger Competitive Landscape Stronger Competitive Landscape

THREATSTHREATS

Rapid Technological Development Rapid Technological Development Facilitates Direct CompetitionFacilitates Direct Competition

Market Stagnation – Limited Market Stagnation – Limited Growth In Growth In US Market US Market

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COMPETITIVCOMPETITIVEE

ANALYSISANALYSIS

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Computer Aided Telephone Interviewing Computer Aided Telephone Interviewing (CATI) is one of CfMC’s highest volume (CATI) is one of CfMC’s highest volume products, but the future of research products, but the future of research market is web-based surveys.market is web-based surveys.

To increase sales revenues CfMC is To increase sales revenues CfMC is attempting to develop a web survey attempting to develop a web survey portal that unifies all CfMC’s productsportal that unifies all CfMC’s products

COMPETITIVE ANALYSISCOMPETITIVE ANALYSIS

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There are a number of providers of There are a number of providers of market research software, but a few are market research software, but a few are CfMC’s key competitors.CfMC’s key competitors.

Threats are the similar products for Threats are the similar products for Computer Aided Telephone Interviewing Computer Aided Telephone Interviewing (CATI) and web surveys offered by (CATI) and web surveys offered by competitorscompetitors

COMPETITIVE ANALYSISCOMPETITIVE ANALYSIS

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The largest competitor, and the largest The largest competitor, and the largest company in the industrycompany in the industry

Known of buying out their competitors Known of buying out their competitors Leading in web-based products and CATI Leading in web-based products and CATI

productsproducts SPSS 2007 revenue: $291,000,000 - 11% SPSS 2007 revenue: $291,000,000 - 11%

net profit net profit CfMC revenue: $6,421,667 - 10.5% net CfMC revenue: $6,421,667 - 10.5% net

profitprofit

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Public companyPublic company

Has bought out only a few competitors Has bought out only a few competitors

A big competitor in web-based productA big competitor in web-based product

2007 Revenues: $34,215,0002007 Revenues: $34,215,000

CfMC revenue: $6,421,667CfMC revenue: $6,421,667

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No 1. leading company in CATI productNo 1. leading company in CATI product

Strength: power dialerStrength: power dialer

Private companyPrivate company 3rd leading company in CATI 3rd leading company in CATI productproduct

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MARKETINGMARKETING

STRATEGYSTRATEGY

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Emphasize service and support Website audit Direct mail Partner client presentation

Build a relationship business Cooperative marketing with clients testimonials.

Maintain their high-volume business (CATI), but with the market shift towards web based surveys, expand their web portal revenue.

““If you’re not thinking about our software, we’re doing our job”If you’re not thinking about our software, we’re doing our job”

MARKETING STRATEGYMARKETING STRATEGY

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Stay visible Advertise in customer targeted media Sponsors education and non-profit sectors Continue participating in major conferences Improve and simplify its website

Promote custom solutions Work with customers on specific needs Advertise in non-traditional media

MARKETING STRATEGYMARKETING STRATEGY

““If you’re not thinking about our software, we’re doing our job”If you’re not thinking about our software, we’re doing our job”

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CONCLUSION CONCLUSION ANDAND

LESSONS LEARNEDLESSONS LEARNED

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Need for internal communication Teamwork not present Need for unifying computer systems (MIS) Need for a developed HR department Developing a guiding strategy and goal Keeping accurate financial data and goals. Establishing and maintaining a consistent

culture

CONCLUSIONCONCLUSION

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Difficulties with schedules

Most diverse group with a large age, ethnicity,

language, and experience differences

Key personnel losses – even temporary

Even a technology company can be missing the boat on Information Systems

Great people does not infer good leadership No goal setting No Mission Statement No MBO No clear organizational structure

LESSONS LEARNEDLESSONS LEARNED

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John is now the Director of Business Administration (thanks Jason!)

Acting CEO since 2/1, who is one of the founders supporting this change

Improving organizational structure

Finalizing the business plan

Presenting these slides to the employees

ONGOING ASPECTSONGOING ASPECTS

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Q & A