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In a case report of maximum 2500 words answer the following questions within your report and make a recommendation for Vice Media. Remember, if you copy more than three consecutive words from another person or source without properly referencing and citing the source, that is considered plagiarism.
Questions:
Vice Media Case Study
Name
Institutional Affiliation
Vice Media Case Study
Introduction
Vice Media has grown into a global company that relies on building international brands by utilizing distinctive competitive advantages. Having had a humble beginning the corporate journey of the company started in Canada and landed in New York through established international chains. The company used a focused approach to globalize its operations; this method resulted in the adaptation to the local setting and standardization of business operations. Hence, Vice Media’s explosive growth is owing to the identification of direct competitors, unique competitive advantages and the balance between standardization and customization for its global business.
The Nature and Source of Vice's Competitive Advantage
The nature of Vice Media’s competitive advantage involved a free flow of ideas and hard work. Despite the success, the management used open-space offices to support flexible decision making. This approach guaranteed an exchange of ideas from bottom-up and top-down without being affected with bureaucracy. The Vice business culture underlined the importance of family in sustaining organizational relations. For example, according to the case, during the economic crisis in 2008, the company provided its employees with healthcare covers, a time when the majority of companies in the United States were cutting back on remunerations. Vice’s provoking and unique ethos extended over business lines resulted in causalities, and, when suitable, the company emphasized on the importance of family. As evident, the company's culture ensured that the employees remained loyal because of its creative capabilities.
The company’s competitive advantage emerged from its business model that provided customers with unique content at no cost. Vice Media used its print and online channels to reach its targeted and loyal market base and disseminated different media content. The internal sources such as the production of video content where the company had creative capabilities and external sources that involved the changes in technology, pricing and customer need resulted in competitive advantage. The edited content highlighted the company's brash media style that attracted a customer base of 67% that needed to access character-driven journalism practices (Vice Media, 2019). This change in the external environment provided Vice Media with an opportunity for entrepreneurship and profit maximization. Consequently, to gain competitive edge and fulfill business potential, the company adopted a free-content model that was not popular in mainstream media.
