May be thinking were did you I go? well sorry i thought i’d been doing my own stuff, anyways. I have changed the format a tiny bit last time I said over a few weeks I will tell you what I like but I found that is just so dull! so from now on Hasnan’s Opinioun Issue I will talk about currents things in WWE and not just stuff that I like and going back to it,find it irrelavant.
This is a report to assess whether the sports entertainment company WWE is meeting its aims and objectives. It will show what WWE are currently doing to meet the Initiatives they have set. Evidence for this report is from the company’s current business issues site http://corporate.wwe.com/ this includes company statistics and slideshows for peoples to view. I have also viewed a conference which is called WWE business partner summit.
Ownership for this company is publicly traded company and has Shareholders. They are an international business as they do their programming is in 145 countries and 30 languages and reaches more than 500 million homes around the world.
Aims and Objectives
Recently the company had rebranded themselves from World Wrestling Entertainment to just the WWE knocking out the words wrestling will help in order to open more things and enter into all audiences homes on their TV other than just wrestling this is their aim. In addition they aim to make a profit and to improve financial results every year.
After revising their first quarter results WWE have fallen in many areas such as Live Events/Venue Merchandise and Pay‐per‐view “Free Cash Flow declined 36% to $24.8 million driven by lower operating performance”. So they will have Long term ideas in hope for profit which is the rebranding into WWE to be “Bigger, Badder and Better” we can say this is their mission statement.
What is being done?
Company have released in their Business Partner summit of how they want to build on their objective which is to build using the idea and cycling around the term “New WWE” (http://corporate.wwe.com/documents/pbs_2011.ppt http://corporate.wwe.com/company/initiatives/index.jsp) There chief marketing officer explains what will happen in other words this helps build up as SMART Objectives. On how they will work with developing their chosen area’s in order to help WWE grow. Few objectives they want to do are:
- Specific: WWE want to add more areas to their company other than wrestling and open new products for example their presentations show there are planned animation cartoon and a planned game for children based on their “superstars” this game is planned to be called WWE Brawl and there will also be toys. There really confident on kids they made sure to say 3 million kids watch WWE every week. In Addition putting on new TV program which are not scripted and they have launched this look below. Using the Internet to promote this is called the Over the Top (outside the ring) idea using social networking sites such as twitter and facebook to see what people think of their current story lines and ideas. And just to all over the world. There movie area WWE studios are making movies for all causes.
Measurable: Opening certain areas in which they will help open to other new viewers.
New Management Approach hires only a few people from newly promoted Paul Levesque (known as Triple H)
New Message: they want people to say it’s time for a change time to set into new deals to build their foundation.
New Products but for specific peoples and some wrestling shows being added at most two (some programming has been introduced such as WWE Tough Enough which is a reality non scripted series on how “superstars” must be.)
New Partnerships get deals with specific groups to help them
- Achievable: This can be done because Companies such as KFC, Starbucks and Apple have rebranded to open more things than what they are which is KFC used was just for Kentucky Fried chicken, Starbucks was for coffee and Apple was only for computers. Means they can do it as well they have rebranded few times as well from World Wrestling Federation to World Wrestling Entertainment. New wrestlers have been signed to the WWE such as Alberto Del Rio and have been a success so the management are so far on a roll. They have done shows in UK and this fall will be in Mexico so there working on televising in the world. Currently televised shows are taped in USA mostly. There has been a movie with good reviews from critics in America WWE studios have more to come WWE have promised.
- Time Bound: Premieres at the Flagship Pay per View WrestleMania 27 Runs April – planned to be fully running in June 2011.
Functional Areas Involved:
- Marketing and ICT:
This is a change to the company they have reinvented themselves, they need to tell people about this and start promoting the company now called WWE. The marketing area write up a press release then send it to there IT department to put it up on their website. http://corporate.wwe.com/news/2011/2011_04_07.html here is abit of what they wrote.
“To better reflect the company’s global entertainment offerings, World Wrestling Entertainment, Inc. (NYSE: WWE) announced today a new business model for future growth, including formally rebranding itself, WWE.
Two key components to WWE’s brand expansion will be the active pursuit to acquire entertainment content companies and the outsourcing of WWE’s core competencies – television and film production, live event production and licensing. As part of the new business model, the company will also focus on the development of new television products including scripted, non-scripted and animated programs, as well as the launch of a new WWE network in the next 12-18 months. The first new program of the brand expansion is Tough Enough®, WWE’s non-scripted program that debuted on the USA Network on Monday.”
- Sales, Production and Finance.
They want to sell more things their current website which is WWEshop.com and also at where ever there shows are there stalls are there ready to sell. But now with more items said to come in they will need to able to handle shipping and its costs and how much should be produced.
- ICT and Research and Development.
They will want to know what peoples think about current situations in WWE such as they may give out a poll on Facebook asking if they will enjoy a current story line or don’t enjoy it. The poll must be posted by the ICT crew then the R&D department will try work on that data to help them improve.
- Human resources
There will new management to get people into the company like WWE have hired Paul Levesque to hire the best he can find in the world for the company in its wrestling area, so then they can attract people around the world.
In conclusion WWE are meeting their aims and objectives. In my opinion the department’s are working extremely hard in meeting them, recently the Administration opened a new office is Mumbai here is abit of the press release, ‘LONDON, May 23, 2011 – WWE® (NYSE:WWE) announced today it has appointed Rukn Kizilbash to be General Manager, WWE India to spearhead the company’s expansion across all lines of business, including consumer products and home entertainment, in India. Kizilbash will report into Dominic Hayes, Senior Vice President and Managing Director of WWE International. To support these efforts, WWE will open a new office in Mumbai, India on June 1. This furthers WWE’s commitment to expanding internationally, with a focus on emerging economies.Kizilbash brings a wealth of experience to his new position at WWE. He most recently served as the Chief Operating Officer at Percept. Prior to his tenure at Percept, Rukn served as General Manager of Ten Sports, after being promoted from Vice President, Advertising Sales. He has also held positions at IMG, and ESPN Star Sports.’ This is another fact that they going international and trying to get more people to watch the show. There are more ways of how they are achieving explained in the report.
They are using deals with companies such as KMART to help them advertise in USA to help them get known. They are doing everything possible to go global
Love it or hate it WWE want do more than Wrestling.This may have been weird post but I hope you got most of it!