Prioritization3.1 Top priority – Proposal to expand into corporate advertising videos Steve Voddil’s friend has approached to him with an idea for VYP to produce advertising video of Coffee Shops, which will be shown on local independent TV. It has also been suggested that more modern channels might be appropriate.
This is considered to be the top priority as it is a new global market, on which the company may have the profit and that is the main aim of the company.
TV industry is changing and innovative, so to keep audience the company should follow the new trends and penetrate a new a market or improve efficiency of the production.
This issue is considered to be a strategic proposal as company wants to penetrate into a new market of corporate advertising. 3.2 Second priority - Fee negotiation for new children’s programme This issue is the second priority as VYP is likely to be a success entering a new area (children’s programmes production). £350, 000 per hour offered by the broadcaster, which is considered to be generous, represents more than 22% of the last year’s total revenue. And given the rave reviews from critics and pilot programme viewers, VYP hopes ‘Sammy Squirrel’ will be re-commissioned in future. It may result in good merchandising sales figures, which are very important in terms of recouping production costs. That is why the issue of the ownership of merchandising rights is crucial. Some research is needed to estimate likely sales levels and decide whether a 40% share of the merchandising margin is worth the 35% drop in fees. 3.3 Third priority – Re-commissioned drama series This has been placed the third priority as VYP has received a new contract from BBC to re-commission the last year drama series at 2011 prices less 10%, and VYP is interested in seizing the opportunity to get more money from BBC to make decent profit. Now it’s vital that company’s services should not fall in prices and that the myth that re-commissioning costs cheaper should be destroyed.
Moreover, John Strong, one of the original members of the cast needed to film the second series is currently unavailable since he is contracted for another 10 months with another TV company. It is necessary that VYP take action to release him from this contract and get him to play in the second series for it to be better received by the public.
3.4 Fourth priority – “Banks – friend or foe?” – A new documentary by VYP
Notwithstanding the urgency of the issue this has been placed as fourth priority due to its practical content and a comparably small sum of money in question. This problem deals with operational issues and emphasizes the lack of cost control and of thorough planning, but it doesn’t have a strategic aspect and is less serious than other problems.
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