DEPARTMENT OF BUSINESS ADMINISTRATION
COURSE TITLE: SMALL BUSINESS MANAGEMENT
Submitted to: Ms.Uzma Rasool
Group members: Farah Mursaleen Faiza Anwar Hareem Sabbir Sidra Mumtaz Zain Kashifa Roohana Kiran
JINNAH UNIVERSITY FOR WOMEN
ACKNOWLED GEMENT
We would like to express our gratitude first and foremost to our Lord Almighty Allah for giving us the valor to remain dedicated to make this report. Writing this report appeared to be great experience to us. It added a lot to our knowledge while we were working on this report. If we say that this report is one of our memorable experiences in student life, then it would not be wrong. For the successful completion of this report, we would also like to thank our course instructor Ms.Uzma Rasool without her gratitude this report would not be possible. Finally we offer our heartiest gratitude to our family members for their selfless blessings.
TABLE OF CONTENTS
Executive Summary 1-3
Industry Analysis 3-5
Production & Operational Plan 5-6
Marketing Plan 7-9
Organizational Plan 10-15
Assessment of Risk 16
Executive Summary
MastFM 103, Park Avenue, 3rd Floor, Sharia -e-faisal
Introduction
Even though, television has completely overshadowed its predecessor as a broadcasting channel, still the numbers of radio listeners is immensely growing over the years. Despite the ever growing number of television channels radio to date is considered one of the fastest means of information. Th e mobility of radio through cars, cell phones and other electronic gadgets has helped in increased number of radio listeners resulting in rigorous competition between radio channels. All the efforts of radio channels are towards attracting large listenersh ip for their FM networks.
The bombardment of FM stations in the last couple of years has left the listeners with a wide variety of programs to choose from. In this cobweb of FM Stations to leave an impact on its listeners and let them be glued to the same station is not an easy task. However Mast FM 103 stands proud today to have the largest number of listeners in the country and being the brand for the year 2009. Being nominated as the Brand of the year in present times where competition is tough is not on ly a challenge but a difficult task to attain. However FM 103 has no doubt created an impact on its listeners resulting into being one of the leading FM network of the country with its high quality programs and meaningful contents which are being offered t o the listeners nonstop. FM 103 which was just another radio station for listeners to tune has emerged as a brand which is no doubt a big achievement for the station. The credit for this achievement no doubt goes to its able management, hard working and ef ficient staff and quality anchors and RJ’s who keep entertaining the people and let them forget their tensions and day to day hardships of life.
As today effective MAST’S transmission covers almost 47 different cities, towns and areas besides the four cities (Karachi, Lahore, Multan & Faisalabad) with which it first started its transmission. The signal loop in these major four cities extends up to 120 kms from one corner to the other corner and covers a listenership of about 35 million individuals across the country.
Product & Services
Whether you are stuck at a traffic jam or you are feeling alone at your home one can always tune into FM 103 and be updated with the latest information in politics, fashion, health, education, weather and what not. If we say that Mast FM 103 indeed makes one go mast it would not be wrong as it completely blows your mind through not just Pakistani pop music but as well as the Indian, UK bhangra pop, latest film hits, ghazals and folk songs for listeners of all ages.
History
It is not so long ago that FM 103 came into existence If we go down the memory lane it was just April 2004 when Mast FM 103 first aired its transmission for the listeners of Karachi, Lahore, Multan & Faisalabad today nearly after nine years of continuous struggle and perseverance it stands proud as one of the most popular FM channel of the country. This acclamation of being the most popular FM channel of the country is not self acclaimed but it has been proven by statistical research carried out and as per the survey it has been proven that FM 103 has left behind other FM networks in the race to provide continuous entertainment to its listeners reaching to majority areas of the country. . It was launched with Revolutionary Transmitting Technology for 24 hours highly entertaining transmission throughout the day, 7 days a week and 365 days a year. This revolutionary technology has indeed brought a revolution in Radio broadcast as people who had once forgotten what it
was like to listen to a radio channel started listening to FM 103 bringing radio back to life and also providing a platform to other radio networks to get into healthy competition.
Financial Plan
The idea behind Mastfm 103 initiated by its owner Mr. Imran Bajwa who was passionate about giving people something entertaining. He started this business with an initial investment of 200 million from personal savings. The company is licensed by PAMRA which started giving license for 2 to 3 lacs.
Indusrty Analysis
Future Outlook
After 5 years they see Mast FM 103 as the no#1 radio station nation wide as e on a everything is well equipped, organized and have increase the flexibility of their station. They have expand their station on a larger aera covering major chunks.
Promotional Activities
• Promotional ads • Arora magazine • Synergizer • Blah • Cross promotions • Stalls at exhibitions
In Arora magazine their station got ranked #1 In 2010 survey their station ranked #1.
Analysis Of Competitors
They do regular monitoring of the activities their competitors. Observe main advertisers of competitors . They have strong sales team, strong budget, their sales team generate good revenue but even though they also analyze sales team tactics of their competitors.
Description Of Products & Services
Products
• Dramas
• Promos • Comedy • Live calls • News desk • Info shows • Linguistic shows • Hamshehri monthly magazine
Services
Time Shows Target Audience 10-12 Female oriented shows Females (house wives)
2-3 Branded shows( Teleworld) All age group
3-4 Current affairs (news) All age group
4-6 Corporate (high profile) Business Class
6-8 Evening drive times shows Working peoples
8-10,10-12 Youth related programs Young people(students)
Sundays------linguistic shows like Pashto, Punjabi etc.
Size Of Business
Mast FM 103 was started as a small business from Lahore which has now expanded to four major cities Lahore, Karachi, Multan, Faisalabad and now in Balakot also. The tower of 103 covers 120km of adjacent area in Karachi, Lahore, Faisalabad, Multan, Balakot which includes 24 villages of the city, and in future it will expand in more villages and areas.
Product and operation plan
Technical Information
• Sound effects (lead, cutting/film) • Computerized (modern/software/save, computer + panel + mike) • Website
www.Mastfm103.com.pk
Theme Craft
FM 103 is using theme craft to evaluate their top rated sites surf by their surfers.the color wheel shows how the colors on website influence audience and what are the impact on their feedbacks lik e The Sahir Lodhi Show is rated at top by audience.It is very easier for engineers or webmasters to evaluate the most viewed sites.
Mastfm103.com.pk top colors analysis:
Color Wheel Color wheel demonstrates what colors #191919 #000000 #323232 #000019 #190000 of circle color is are used on web template. The closer to the middle And vice versa being displayed the darker the particular color is. displayed the the closer to the edge of the wheel color is being seconds to lighter that colo r is. It takes approximately 12 color wheel highlight exact positions of the website colors on the
Production Process
Mass Finishing
Mass Finishing products surface preparation process consists of cleaning, debarring, surface improvement, inh ibiting, and drying. Each of these may be achieved through several processes where the determining factors are efficiency, production rate, and economy. Cleaning is the most important step in the mass finfiniishingshing process, because it is the basis for all fini shing operations. In order to efficiently debar, burnish, inhibit, plate, or paint a part, it must be clean. The part must be free of residues from the surface of the part; these residues include dust or particles, cutting or stamping fluid, die lubes, cor rosion inhibitors, oxidation or scale. Each of these residues, alone or in combination with one another, requires its own type of cleaning chemistry. Formulated for extra brightness, Fm 103 is designed for burnishing with all types of media, as well as self-tumbling work. Used with brass, copper, nickel -silver, gold, mild and hardened steel parts, it prevents tarnish, while developing both color and luster.
Raw Materials • FMCG’S Fast moving consumer goods o Unilever o P&G • Equipments
o Needs o Luxury
Operation process
These are the equipments which they are supposed to handle and by using these equipments they go On Air and do shows. Rj is self producer. Producer/sound engineer, Promos, back to back music, line -up Rj’s, station manager design shows and do adjustments of Rj’s in occasional and exclusive shows and he is also Responsible for promos and bring innovative ideas.
How a program goes on air?
Before the program starts Idea behind the program, themes program setting BGM and set playlist with the help of engineer according to the theme of the program engineers keep maintain time charts commercials(ad logs) and keep them organize on the panel. Radio can not go blank even for a second Producer and engineer are responsible for prepa ring back up for it. Using panels, operating buttons, feder, 2 pcs, mic, headphone, speaker, telephonic lines and sms software.
Marketing Plan
Target Market
They are not targeting specifically some segment of the society but providing entertainment for all ages. The young at heart listeners of Mast FM 103 include people from every walk of life whether male or female, office goers to university students, executives to house wives thus whoever listens to the radio is tuned in to the station this is not jus t a claim but it is acclaimed by top multinational companies of the country.
Market Position
They have a strong position in the market as proven by the statistical research and survey held by leading survey group such as Group M has declared that Mast FM 1 03 is indeed the most popular and number one radio network of the country.
SWOT (Strenght, Weakness, Opportunities, Threats)
Strenghts
Numerous competitions, phone ins and valuable gift offerings make its programs further more innovative and interesting for the audiences resulting in increased number of listenership. The fan following of its programs reflect the impact they have on societ y and the influence it makes on the lives of people. If you listen to any program of FM 103 you will come across huge number of calls and sms reflecting the liking of people for the many program FM 103 ha s to offer. The choice of programs, hosts, guests pr esenting and addressing various issues and topics indicate the effort put in by the team of the station. The dedication and commitment of people at FM 103 to have the radio station as a companion to its listener is indeed admirable.
Additionally, RJ's a re multilingual doing linguistic shows, quality of music (good songs selection). Shows such as Bholay Na Kabhi, Music on Wheels, The Sahir Show, Café Karachi, Shehriyat, Punjabi BhangraBhangra,, Friday Hungama,Thirsty Thursday are just some of the many programs that have marked the niche among the listeners of Mast FM 103. From morning to night any time and any where the numerous programs being offered by Mast FM 103 engages its listeners and serves as a true companion to them.
However one must also note that Mast FM 103 is not at all just about entertainment it is also a source of information with 19 hourly news bulletins being aired from 06.00 a.m. till 12 a.m. presentation of Current Affairs Programs is anot her exclusivity Mast FM 103 which it takes pride in Analyses, Special Reports and Sports programs is another unique selling point for its listeners as they are presented by some most popular presenters of FM community.
Weakness
They have no such weakness except not catering elite class because if they will focus more on such class then they are going to loose big masses.
Opportunities
A major opportunity for Mast FM 103 is that it has a larger coverage area. Load shedding is also an opportunity that is not only for Mast FM 103 but for other stations as well as people tune radio at this time. For that Mast FM 103 has backup generators, parallel arrangements, UPS and engineers to manage.
Threats
Threats are taken by them as opportunities. Presently they have threat from FM107 and FM89 to some extent like FM89 has more focus on elite class using high profile English.FM107 morning shows are very attracting and entertaining and they are having good clients (advertisers).
STRENGHTS WEAKNESS
Valuable Gift Offerings Not Catering Elite Class
Quality Of Music(Good songs selection)
Linguistic Shows
Special Reports
Sports Programs
Current Affairs
Strong RJ's
Larger Coverage Area FM89 High Profile English
FM107 Morning Show
THREATS OPPORTUNITY
ORGANIZATIONAL PLAN
The organization consists of approximately 100 employees, who are divided into different departments:
Rj's
Production
• Rj or Presenter is the main person who speaks on air and interacts with the listeners. They are the main sources to grab the listenership; therefore, they are the most important part of a radio station. • In Mast fm103, certain time slots have been allotted to different presenters. Morning drive time (6am to 12pm) Lunch time (12pm to 4pm) Evening drive time (4pm to 10pm) Night time (10pm to 4am ) Insomnia zone (4am to 6am)
Presenters like Hammad Ismail, Leena Shah, Shoaib Ahmed, DJ Cressella, Sahir Lodhi, Abu Rashid etc. amuse the listeners by doing shows in their respective sl
• Rj’s at Mast fm103 have full liberty to design their shows in their way. For the whole 2 hours, the mike is theirs. That’s what makes their work special.
Hammad Ismail Shaoib Ahmed
Accounts & Finance
• The accounts/finance department is in - charge of handling all revenues and expenses in a controlled environment. The primary function this is to ensure that dues from advertisers are collected in a timely manner and similarly all payments like utilities, salary and others are done on time. • Their expense may include: Salaries Timely bonuses to the employees Expenses of any special event organized by the station for the employees Billing to the TELCO’s that include telecommunicatitelecommunicatioonn companies like PTCL, Mobilink, Ufone, Telenor etc. • It also handles all l egal or financial matters relating to mobilizing funds from the market. The finance department additionally looks after departments like auditing and taxation.
Marketing
• The basic job for marketing personnel is to bring profitable business to the stat ion.
• This department is responsible for generating direct revenue for the radio station by selling air time to advertisers. The department consists of several persons who perform different functions ranging from the Sales head who supervises the functioni ng of the entire department to make certain the revenue target are met. The department has a large number of sales men who approach advertisers and prospective advertisers to sell the air time and to negotiate the terms and the payment details with these a dvertisers. • Mast fm103 has got very promising marketing personnel w ho work day in and day out to make their station the best advertising forum for the advertisers. • 103 mainly targets the middle class and common masses of the society, due to which, it has m ore listenership than any other channel. This becomes a centre of attraction for most of the advertisers.
Production
• The production department produces radio commercials, public service announcements, station IDs and promos, imaging elements, interviews, documentaries and other recorded material that is played out on the air. • Employees in this department are mainly sound engineers, who have complete hold of mai ntenance of the show. • The organization also trains technical production personnel, programmers and production volunteers in every aspect of radio production, from pre -producing a full radio show, to setting up remote broadcasts, to executing the technical elements of a show.
News
• It is the distinctiveness of Mast fm103 that it has a separate news department which gives hourly news update to its listeners. Besides this, there are one -minute cit y round-ups, exclusive reports on different issues and occasions, which are not presented by any other radio station. • The news department consist of the following authorities: Deputy Controller (head) – supervises the news department Shift In charge – the news reader. Works shift wise i.e morning, afternoon, evening (6-7 hours per shift) Reporter – prepares exclusive reports Assistant – helps in gathering the news details and in being updated every second. • 19 hourly news bulletins are aired from 06.00 a.m. till 12 a.m. presentation of Current Affairs Programs is another exclusivity MasMastt FM 103 which it takes pride in Analyses, Special Reports and Sports programs is another unique selling point for its listeners as they are presented by some most popular pre senters of FM community.
IVR
• The term IVR refers to Interactive voice response . It is a technology that allows a computer to interact with humans through the use of voice and keypad inputs. • IVR allows customers to interact with a company’s host system via a telephone keypad or by speech recognition, after which they can service their own inquiries by following the IVR dialogue. IVR systems can respond with pre recorded or dynamically generated audio to further direct users on how to proceed . • The IVR department is run by a sister organization of Mast fm103 called TELEWORLD. Here they provide telephonic services (more than 80 services) or, we can say, telephonic e ntertainment, to the customers. • Mast fm103 is proud to be the only radio station in Pakistan to have an IVR department which is running very successfully.
• IVR department consists of following authorities:
Director – Hasni Naveed Afridi Office In charge – Saim Bashir Marketing Head − Abdul Qadir Assistant Marketing Head – Humera Yaseen Producers – Amjad Khan, Irfan Sheikh Rj’s – Humera Yaseen, Rj Irfan Sheikh, Urooj Naaz Vocal Artist (Only for recordings) – Urooj Naaz
Salary Structure
• The standard overall salary starts from Rs.10, 000 with yearly increment. • The initial salary for Rj’s starts from Rs.500 per show, which increases with the popularity of the Rj.
• Employees who speak on air, like, Rj’s and news readers, usually have higher salaries than other employees.
Team Responsibilities
As the members of a broadcasting organization, employees must be: • Up to date with the day to day issues faced by the organization. • All the time alert to face the technical issues. • Able to find quick and extempore solutions to the problems that occur. • Having complete know how of all types of work, even out of their job description. • Punctual in all aspects and must show strong teamwork.
Assessment of Risk
Presently there are 12 other radio stations that are working at a time like (AM) Radio Pakistan Karachi, (FM) City FM 89, Humara Karachi, Radio 1 Karachi, Radio Active, Josh FM 100, FM 101, After Mast FM 103 still there are many other radio stations are la unched such as Hot FM105, Hum FM106.2, Zab FM 106.6 and Apna Karachi 107.
These radio stations have different type of assessments to evaluate their weakness and threats, its also difficult for them to identify opportunity for them in future but they all compete each other for listeners and advertisers for which they do different type of activities to capture the target market. For all radio stations their targets listeners and advertisers are very important as for Mast FM 103 which take necessary steps such as employing efficient DJs, RJs, anchor, script writers and so on. It has little risk from other stations in some aeras.
All radio stations are using same technical equipments for providing services. Pakistan is 10 years back in technology field from European countries so they don’t have completion in that area. But following are som e basic things on the basis of which they evaluate risk for threat and weakness.
• Shows • Events • Advertisers • Promotional activities
They also maintain check and balance system for that they have employed engineer updating their technical computerized system.
Over the years Mast FM 103 network has proved that it is now not just a radio channel but a brand that envisages people’s interest and strives to adhere to this commitment of providing nonstop entertainment to its listeners. By being brand of the year more responsibility lies on FM 103 to keep excelling and managing quality and content of its programs. It commits to its audience that it will continue to meet the expectations of its listeners and will keep up to its motto of entertaining, informing and amusing the people more and more in the years to come.