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Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Evaluate potential solutions

Show thoughtful and complete consideration of each proposed solution’s pros and cons.

Transcribed Image Text:Propose solutions Propose 1: Creating a Subscription Model for Corporate Partnerships Halau Online can develop a subscription model for corporate partnerships that provides a bespoke collection of courses tailored to each organization's specific requirements. Halau Online can do this to generate a steady and dependable revenue stream that is less affected by the fluctuation of the individual student market. This strategy can use the company's expertise in adapting its course materials to the changing requirements of employers, enabling the company to provide individualized training programs that align with the objectives and needs of corporate partners. In addition, Halau Online may benefit from corporate partnerships to broaden its audience and raise awareness of its brand among potential students. Propose 2: Creating an Incentive Program for Current Students to Refer Friends and Colleagues to the Platform Halau Online can create an incentive program for current students to refer friends and colleagues. This approach can use areas of strength for that Halau Online has worked with its understudies and benefit from the force of verbal showcasing to draw in new clients. Halau Online can do this to save money on marketing and customer acquisition, expand its customer base, and increase revenue from its existing infrastructure. Additionally, because it enables poor students to access high-quality education that they might not otherwise be able to afford, this strategy could reinforce the company's goal of closing the educational equity gap.

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