Description
BUS 499 – Week 10 Discussion – Measuring Success
Part 1
Now that your business consulting plan is complete, you need to consider how to measure its success and determine changes moving forward.
Discuss two strategies to evaluate the success of your plan.
Predict one possible risk that could impact the success of your consulting plan and a strategy to mitigate that risk.
Discuss two strategies for responding to stakeholder feedback, including a plan to address stakeholder concerns.
Part 2
Provide a substantive response to one of your classmates (Tiffany Will.)
Hello Professor and classmates,
Two strategies that would evaluate the success of my plan would be the use of algorithms. I found during my communications plan for my selected company, eBay, that their competitor Esty had other social media channels customers could use to access their site. I am sure that someone is responsible for recording how many times people use Etsy from another platform. This is one way to evaluate the success of my plan. I did recommend algorithms because they are beneficial in monitoring the ways customers shop or where they shop. Another strategy would be through customer feedback. It is always helpful to know what your customer thinks about the implementations that you have made. For eBay, there were a lot of customers talking about how hard it was to find items based on category or things sellers had in their online store. It seems like it was hard for customers to locate what they needed quickly without going through a lot of screens.
One possible risk that could impact the success of my plan would be a lack of customer feedback. One of the things I could do to improve that would be to offer incentives. I know that many times when a company offers you a gift for completing a survey, people are likely to do the survey. It could be something like a complimentary gift card for $5 (Schroeder-Gardner, 1). That might not seem like much, but it can buy you a snack on those days when your money is low. The only downside if that you have to accept some offers or complete a lot more surveys to get the gift card. I wouldn’t do that as eBay’s business consultant. I would offer that gift card, voucher, or discount code to get customers more interested in completing the survey for eBay.
Two strategies for responding to stakeholder feedback would be open communication consisting of listening to and valuing what your stakeholders have to say. Or having regular one-on-ones with your stakeholders. This will allow for group discussions and sharing of ideas from each stakeholder. Another strategy would be knowing exactly who the key stakeholders are (Webflow,2). This will help with decision-making because the stakeholders are also associated with having ties to funding or being partners with groups that can help raise awareness of causes that the company might support. Knowing who these stakeholders are is great for responding to feedback appropriately.