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Global Career Management

Essay by   •  May 17, 2011  •  Case Study  •  1,097 Words (5 Pages)  •  1,388 Views

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Industry Analysis

Global Career Management is a member of the professional career services industry. This industry includes two competitors in the Colorado area. In this industry career services are provided for executives, managers and professionals at all levels. The career services provided by Global Career Management are specialized for the individual and their needs. Whether it is a manager that has been in the same industry for 20 years and they would like to change industries, or an executive that is just not being challenged any more in their current position, Global Career Management is the leader in the professional career services industry. This industry has many important aspects. Instead of Global Career Management working for the employer, they work for the employee, helping to market the individual and teach them how to have a competitive advantage when it comes to having interviews and negotiating a compensation package for the employee when deciding on a new position.

Rivalry

Global Career Management has two competitors in the Colorado area. RMC International and McKenzie Scott Partners are also in the professional career management services. The competitive pressures from these two firms are not as high as you may expect them to be. Global Career Management is in operations with an untarnished reputation unlike the other two. RMC International was formally known as Bernard Haldane, this company was not only reported on www.ripoffreports.com but it also went bankrupt only to emerge back into the market under a new name, the company kept all of the original staff onboard at the time of the new emergence. McKenzie Scott Partners was also reported on www.ripoffreports.com as not being helpful in the ways in which they promised to their clients. Many unhappy people left this company with nothing to show of their services. Global Career Management can stand behind their promises to their clients as well as their knowledge and expertise in this industry. I would say rivalry in this industry is low to medium.

Threat of New Entry

In the professional career services industry the expertise that has been acquired by the firms already existing in the Colorado area would be hard to match. All of the expertise is already being used by these three firms so threat of entry is minimal. If there was a firm involved in this industry that was looking to relocate to Colorado three could be a possible threat but the company would need to bring along it's own expertise from the location it is already operating in. The capitol resources needed to open such a firm would be minimal but the firm would also need to realize that the time it may take for the services to take off may cost more in the long run then actually opening the doors. I would say that threat of new entry for the professional career services industry is low.

Substitute Products

Substitute products for the professional career management industry include everything from writing and sending out your own resume to finding a career services agency that works for the employer not the employee. The potential client does not have to pay for this service because there are many services provided on the Internet for free such as websites that allow you to post from one to five different resumes for potential employers to peruse. To evaluate the price for these substitutes

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