Introduction
In 2004 NBC became NBC Universal, Inc. through the merger of NBC, wholly-owned by GE, and Vivendi Universal Entertainment (VUE). The merger was intended to strengthen NBC’s already successful company and to create a multimedia powerhouse that would produce and distribute its content through a variety of networks (Proquest). Although NBC has gained more viewers it still trails behind its biggest competitors at #4, while FOX, CBS, and ABC stay ahead. Within every company there are strengths and weaknesses. It’s important to evaluate and understand a company’s internal analysis and implement strategic plans to turn their weaknesses into strengths. NBC has done a great job in trying to keep their head above water throughout the years with their poor ratings through their strengths such as innovation, diversity, company acquisitions, and internal employee growth and success (EMS). The company also has it weaknesses which have held them back at times, but they continue on finding ways to decrease them. Weaknesses include; structure of company, time management, money management, and company growth. Overall I believe that NBC has done all possible in maintaining their company internally well-balanced. I will discuss NBC Universal, Inc. strengths and weaknesses and how they have affected the company now and how they will in the future.
Strengths
Innovative
NBC Universal, Inc. is one of the first in the television broadcasting industry and it continues to strive thanks to its strengths as I mentioned before. One of its strengths is its sense of innovativeness which can be found in all areas of the company inside and out. Whether it’s coming up with new ideas for shows, or going after innovative clients to give it more of an edge than its competitors they are on top of innovation. The company and its employees are constantly thinking in different ways to make the company stand out and give them a competitive advantage over their competitors by adding value through innovation. One way in which NBC Universal, Inc. does this is by coming up with ways to make their programming more innovative by constantly adding new shows that can bring them more viewers in different demographics. In the 90’s the company was losing its viewers at a high rate, so they decided to start opening their minds and innovating their shows and adding onto their list of programming. One example was reality shows since they appealed to a younger and female demographic, so they would be able to gain more viewers in the younger age groups and to women as well. Through its large portfolio of cable channels it has helped the company to boost its broadcasting operation.
The next way in which the company uses innovation is through using innovative companies to advertise on their networks. Marketers at NBC must get other companies from different industries to come and advertise onto NBC’s networks so that they can gain revenue through advertisement. One of NBC’s highest revenue income is through advertising so when they seek out companies they seek companies that they can continue doing business with over time. This is why they need innovative companies so that NBC can relate to the other company and add value to their company. Besdies having innovative companies as advertisers, NBC itself is a top advertiser since at this years Suberbowl it was able to have the most Superbowl ads, over 69 in total (Proquest). Another way in which the company is innovative is that they are always changing their networks logos, tagline, and even their infamous peacock (NBC logo). Over the years the Peacock has changed from its colors to the way it actually looked and was set up. The logo we currently see has been around for many years, and before that it has been reinvented many times. The reinvention of the logo over time has shown that like the logo the company was always reinventing itself. In recent years the networks on NBC, like SCI FI and BRAVO, have changed their logo and tagline to show that they’re also changing within the company itself. By the networks reinventing their logos they are gaining the attention of their viewers as well as other viewers since they see that the network is always changing just like them and their tastes. They do this so that viewers can continue to identify with the network; viewers are always changing and growing and so are the networks. Other reasons they may change their tag lines is because they want to appeal to different demographics or because the network is itself changing, like adding new programming or even merging with another network. When it comes to adding new programming, I have seen this type of innovation first hand in the SCI FI department at NBC Universal, Inc. Over the years the network has gained a lot more viewers by reinventing their logo, tagline, and brand perception. Strategically my department has come up with different ideas to make more innovative shows, and come up with more innovative ways to target viewers.
Diversity
Throughout the years NBC Universal has been committed to being one of the top leading employers in the media and entertainment industry so that they can acquire and retain some of the best talent. This commitment has been institutionalized through progressive programs and resources for employees at the company that focus on three different key areas; * “Attracting, retaining and developing the best people by fostering an inclusive culture where employees of all backgrounds feel valued and have opportunities to excel. * Creating greater satisfaction by providing support and flexibility at work so employees can better manage the demands of their professional and personal lives. * Encouraging and recognizing achievements at work as well as volunteerism and participation in the communities where we live (NBCUNI.com).”
This is why NBC’s Human Resources tagline is “Great People Doing Great Things.” When it comes to support and flexibility at work NBC recognizes that employees face daily challenges in trying to manage the demands they face at work and at home. Employees thus have access to support and resources to help them get through these challenges effectively so that they continue on having success at work and home. In some of NBC’s company locations they have child care resources, flexible work options, guidance on elder-care and parenting issues, educational loans and scholarships, tuition reimbursement, and numerous wellness programs (NBCUNI.com). Through these diverse programs and employee resources NBC has been able to gain and retain some of the top talent found in the industry. Not every company in the industry or in other industries can provide its employers with the resources and programs that NBC has tried so hard to achieve.
Another way in which the company is diverse is through its inclusive culture as I mentioned above. Since they are committed to attracting and retaining the best and most diverse talent they have acquired a powerful and secure competitive advantage in the media and entertainment industry. In 2000 the Diversity Council was formed to show how committed the company was in their efforts. In this council there are leaders from all across the company that have strived to increasing diversity and creating programs that encourage diverse individuals to pursue careers in media and entertainment or explore business opportunities with the company (NBCUNI.com). NBC is committed to helping its employees who are both on the air and behind the scenes, and has given them both equal opportunities and resources to develop and succeed their goals in the company and within themselves. Some of these programs include; “internships, early career pipeline programs (Page Program, Associates Program, GE Leadership Programs), Taller Telemundo, Directors in Training, Writers on the Verge, Emma Bowen Foundation, Talent Diversity Initiative for Writers, Supplier Diversity, and Affinity/Networking Groups (African American Forum, Asian Pacific American Forum, Women’s Network, Hispanic Forum, OUT@NBCU) which is among other (NBCUNI.com).” In each of these programs and employees and perspective employees are able to gain knowledge and experience in different aspects of the company. These programs will help attract more employees in the future due to its diverse workforce, programs, and resources, and the fact that it’s a diverse environment that enables you to grow so easily within the company.
EMS
Every company has trouble trying to control the goals and successes of each of their employees. Some employers want to know what their employees do in the company and if it has brought the company and success. They may also want to know if their employees are maintaining their goals, and completing their tasks. Essentially they want reasons why their employees are assets in the company, and how can they weed out the best employees with the most potential to strive in their company to the rest. NBC Universal has taken these questions into serious thought and has been using a rating system that employees themselves make about themselves and others to show what they have done and what others have done for the company. This rating system is called EMS. Through this system employees are given a chance to let their managers know what accomplishments they have made in the company, goals and tasks they accomplished, and why they are an asset to the company. They also can include and awards, certificates, or recognitions that they received within a one year period, since the EMS is written each year. Managers evaluate the information and comment and write another EMS on their department and what their department has accomplished as whole. Everyone in the company must write an EMS even the top senior employees. I think this is a great aspect that NBC has since they are able to control the accomplishments their employees have made within the past year and whether they are an asset to the company and if they’re doing their job right. According to NBC this isn’t a tool to hire people within the company, but more to see what the employees are doing for the company and how they can make them better or send them in a better direction. From what I have seen and been told at NBC people who aren’t doing their jobs correctly are given what they call a second chance, or should a say a second year, to try and focus on their tasks at hand and give the company and their manager a reason for them to continue on with the company. If they don’t take this opportunity seriously they are released from their jobs, because NBC is committed to helping and motivating their employees and they feel that their employees should return the favor and motivate and help the company succeed. In terms of the future NBC will continue to use the EMS system since it has brought them a lot of strength in the employment field of the company, since they have been able to control their employees successes and non successes, and have made employees more attentive on how they do their jobs. Overall the company has seen better quality of work done more efficiently and effectively which has helped the company and its employers to grow and succeed.
Company Acquisitions
Another strength is GE’s acquisition of NBC Universal, Inc. GE is a very well known and large company that has a lot of recognition internationally. NBC is also a well-known company and before the acquisition it was already a well-known and successful company. Through the acquisition the two companies have gained more success and they have gained a competitive advantage as well by diversifying their brand names. GE has also been able to help NBC financially and has also helped them to grow and diversify through mergers and acquisitions of other networks. Some of the acquisitions include the Weather Channel (acquired in 2008), iVillage (acquired in 2006), Hulu (acquired in 2008), and Oxygen (acquired in 2007). Each acquisition added and brought something new to the brand. iVillage and Oxygen are directed towards women which opened up NBC to more female demographic and Hulu and iVillage are two of its big online sites as well. The Weather Channel brought more viewers to the brand itself, since they have over 95 million viewers worldwide. NBC currently has 230 affiliate stations, and more than 25 owned and operated television stations. Most recently the company has acquired UK based Carnival Film & Television to expand on its international efforts. Another one of the company’s acquisitions is of Universal Studios (produces NBC’s mainstream movies) including all aspects of the company; parks and resorts, home entertainment, production and distribution, universal pictures and focus features (produces NBC’s smaller budget films). Through this acquisition NBC has been able to increase their company growth, portfolio, and viewers. It has continued to grow with a distribution deal with Steven Spielberg’s DreamWorks (2008) as well. They are hoping this new distribution deal will help to boost results in the home entertainment industry in the future. Through all the mergers and acquisitions NBC Universal, Inc. has gained a significant advantage in its size over their competitors. This will help them in the future in the sense that they will continue to grow so they can gain and appeal to different demographics in both age and sex.
Weaknesses
Structure of Company Time Management
Money Management
Company Growth
Conclusion