Student ID: s12065440
My allocate firm is Seek, “SEEK is a diverse group of companies that have a unified purpose to help people live more fulfilling and productive working lives and help organizations succeed. The Group encompasses a strong portfolio of employment, education and volunteer businesses which span across Australia, New Zealand, China, India, Brazil, Mexico, Indonesia, Nigeria, Bangladesh, Philippines, Vietnam, Thailand, South Africa, Kenya, Malaysia, Hong Kong and Singapore.” I got lucky on this topic, I use Seek on a daily basis. It is a website which designed to help people find jobs and help company to recruit employee by a very detailed personal catalogued system.
The Chief Executive Officer and Co-Founder is Andrew Bassat, he has been the director since September 1997. He was participating in all stages of development of seek. Especially, Andrew led the creation and development of the education business, Andrew became the head of the British football club since July of 2016. Andrew got his bachelor’s degree of computer science from Melbourne University, a bachelor degree in law from Monash and a Master degree of Business Administration from Melbourne Business School.
I think Seek is a little bit different from other classmates’ allocated firms because it’s an international online service website. It’s unlike the food factories, car manufactories or air travel companies, there is no actual product but information. It provides us a network platform to post our CV and search for the job positions, employers post the available job positions to recruit employees. I find it’s very interesting and cannot wait to share my thought with other classmates.
Share price and graph:
From 2013 the share price of seek has sharply increased from $6.59 to the peak point $17.7 which happened on 1st of February 2015, but it bounced back to $12.01 on 1st of September 2015 and it has raised ever since. In last 6 months, the share price is kind of stabilized around $16.50, right now it is $17.41.
The following section is based on the excel document that I submitted earlier at step 4.
From 2014- 2016, the profit of 2014 was 223.4m, the profit of 2016 was 399.4m, the profit of the year has already increased almost 100%. The annual profit of seek has increased sharply since 2014. From 2014-2016, the revenue of the year has increased 20% but the profit of the year increased almost 100%.
The competition of this kind of online job-searching personal catalogued platform has been more intense than usual, lots of companies recognized the opportunities and enter the market such as gumtree of Australia. Seek must consider more plans of contingency, seek has covered all most the whole world besides Africa and American, the people in manage position has to think the over sea competition as well, for instance, china has 58.cn, New Zealand got trademe.co.nz and indeed.com.sg for Singapore. The competition from exist companies and the companies that about to enter the market is very intense, there’s no guarantee that they are not going to replace seek. So seek has to make some moves to ensure they still control the market and maintain the most of their customers, that means they need to improve the service and find some new innovation to attract customers.
Seek has already became a worldwide company and it covered almost the entire world, but not the whole world. They can continue expanding the range of the service to cover the American and Africa, so they can make more profit, especially American, Canada and USA, I still cannot figure out why they have not done it by now.
And the reputation of seek is very good, it’s quite famous. So, seek has advantage facing the competition from other companies which makes seek have more chance to co-operate with big firms.
Most importantly, I don’t think seek has took the full advantage of platform they’ve already had. For instance, trademe has a lot more side business such as motor trading, real estate trading and even has a flea market. There are a lot business that could be developed to make much more profit than relying on advertisement and commission. So, I think it would be much more profitable if manage level of seek make the website a multi-functional platform.
My blog page:
My moodle page:
Other students’ blogs that I comment on:
Chanuka Gamage’s blog: https://chanukagamagesite.wordpress.com/2017/07/23/chanu/comment-page-1/#comment-1
Top 3 blogs that I like most:
No.3 Martin Turner’s blog:https://martinturneraccounting.com/2017/05/20/peerwise-update/comment-page-1/#comment-218(My comment)
Martin’s blog is very helpful for me, it makes me realize how important the peerwise and how the peerwise system works that would help me study more easily.
I like Hennie’s blog because it caught my interest of Operatic music, I would love to join Hennie to find out how operatic music makes me feel.
No.1 My favourite blog—- Tiffany Treen’s blog:
I don’t even know where to begin, it is absolutely stunning, it has all necessary elements, there’s no flaw in her blog. It not only show me all the assessment data in the blog it also contains gif pictures and the blog has already been decorated, it looks so vivid that I had to read it over and over again.
Discussion with other students:
I discussed my assessment with ellenzhangcom through my blog, she pointed out that I could use the database of the university to find out more useful information. And she also thinks that I need to look at other similar website that has the same purpose of seek. Her advice has been very helpful to my assessment.
Her comment on my blog: