UMT
MGT195 Term Paper: Strategic Planning at The Chronicle Gazette
Introduction: Problems in Publishing All businesses must be concerned with the rapid pace of change we face today. No company is secure, not even the largest and most profitable. Coping with change has been a business concern since people began doing business. Recall how the arrival of automobiles put buggy whip manufacturers out of business. Today’s pace of change is unprecedented. Consider what has happened in the retailing arena. Online retail sales went from nearly nothing in the mid-1990s to a projected $242 billion in 2010. Traditional retailing stores have been heavily affected. eBay has become a retailing behemoth enabling individuals to buy and sell goods
…show more content…
Hopefully, by looking at the problem from 40,000 feet, she and her managers can develop a better idea of the challenges the newspaper faces. Once these challenges – and their sources – are understood, the newspaper can develop strategies to deal with them. You have been hired as the consultant. Your job is to put together a consulting report of 10-15 pages (typed single spaced with 12 point font). The report’s goal is to offer the management of The Chronicle Gazette a strategic vision of where the newspaper publishing industry stands today and where it is headed over the next decade. You also need to propose strategies the newspaper can investigate to survive in the new business environment. Structure your presentation so that it can be used by Susan’s team as a roadmap to putting together a detailed strategic plan.
© 2008 University of Management and Technology
2 of 4
UMT
Sample Outline of the Consultant’s Report You have latitude in how you present your report. Following is an outline of an approach that would meet the requirements of this assignment. Feel free to adopt it or to pursue a different approach. 1. Introduction – goals of the report 2. State of the newspaper publishing industry today 2.1. Data on declining circulation and revenue 2.2. Status of newspaper leaders, e.g., New York Times, Wall Street Journal 3. Why newspapers are facing declining circulations and revenues 3.1. External assessment 3.1.1. Economic forces 3.1.2. Social,
Now, with the advent of the internet greatly transforming the information-gathering sector, the newspaper industry is fighting a tough battle for profitability.
Strategic planning is a critical element of an organization’s annual business plan. A strategic plan consists of a number of components. In addition to analyzing a company’s strengths and weaknesses, a strategic plan also includes implementation and control techniques. While this may seem easy enough, implementing a strategic plan into an organization can be challenging. Barnes and Noble, like a number of corporations are seeking ways to improve productivity and profitability. This essay will identify business alternatives for the bookseller which will enable them to diversify their product offerings.
Comcast is the leading cable telecommunications and Entertainment Company in the industry. Their strengths lie in their products and the will to explore and improve with their services. They always continue to provide customers with new and improved services and continue to build on existing services. Comcast is the fourth largest cable company in the world and served customers in 39 states with over 24.7 million cable customers. (Comcast, 2008). The chart below shows the amount of subscribers in the country:
While some may agree that it is not appropriate to keep selling and buying a newspaper every few months, using several different strategies and laying off employees that are essential to the newspaper in order to keep it alive has certainly not work in the past years. The price tag keeps falling every year, while, the amount of money needed to keep publishing daily editions increases. Currently, the newspaper does not have the capacity to investigate and report all the potential news in the City of Philadelphia as the number of staff has immensely decreased in the last several years. Subsequently, there are numerous local business owners in Philadelphia that are fighting to find a solution to the problem. The Philadelphia Inquirer has been in existence for almost185 years. The paper was a key source of news during the Civil War, the Great Depression, World War I and II, shutting down the Inquirer will end a key role in the evolution of the American
Problem Statement: The advent of internet brought about both challenges and opportunities for the newspaper industry. On one hand, it required redesigning a new product suited for online customers and on the other it was an opportunity to reach to 123 million potential customers in this category. Thus to keep up with the pace of emerging digitization in every field, like all newspapers, New York Times also added online reading in their product portfolio. However it only worsened the crisis the newspaper was already going through. The operating profit declined by more than 76% from 234Mn$ in 2010 to a mere 57Mn$ in 2011. The circulations were steadily declining and the new online advertising could not compensate for print advertising
The organizations that will be discussed are Century 21 Powerhouse Realty where I am employed at as a real estate agent and the Disney organization, which is an organization that has adopted total quality management. In the following paragraphs I will evaluate my organization’s mission, vision, goals, and objectives as well as discuss the relationship
Opportunity is the key word for the newspaper industry right now. According to experts, neither digital advertisement revenues nor paywall subscriptions are the answer. Innovation needs to be present in order to define the future of the industry. For example, some added value needs to be present to merit the payment for content that was previously free or can be found using numerous substitute products free of charge.
The newspaper industry is undergoing a radical change in three primary areas caused by technology. First, the underlying two-sided business model is changing. With the Advent of internet, news content is easily and freely available from various sources but lacks quality journalism and credibility. Revenues from online advertising are not large enough to compensate for decline in revenues from print advertising & subscription. Newspaper industry is experiencing new realm of new content delivery and in process of understanding and establishing sustainable sources and
In this paper I will discuss Macy’s Incorporated by analyzing their business level strategies to determine which I think is the most important to their long term success and if I think it is a good choice. I will analyze their corporate level strategies to determine which I think is the most important and whether or not I believe it is a good choice. I will analyze the competitive environment to determine the corporations’ most significant competitor and compare the two companies’ strategies at each level and evaluate which company I think is most likely to succeed in the long term. Once the
With the decreasing market, the profitability of newspaper industry is declining. Newspaper revenues came from two sources: advertising and circulation representing approximately 80% and 20% of revenue, respectively. But between 2000 and 2010, annual
This research has been conducted due to the fact that some researchers have claimed that “journalism is dying” whilst others have argued that “journalism is not dying but is simply evolving” (Blatchford: 2014). This has been a much contested debate triggered by the decline of news circulation from traditional news sources i.e. newspapers, television and radio together with the technological advances of the internet and social media (Cub Reporters: 2010). This has raised many questions and firstly, this dissertation will assess whether the rise of social media has led to the decline of news circulation from traditional news sources. Secondly, this paper will look at what the advantages and disadvantages of using social media as a news distributor are for professional journalists and the general public. Lastly, this study aims to investigate
Macy's is one of the premier retailer franchises within the United States. To begin, Macy's Inc. is one of the nation's largest and well known department store chains. Started over 150 years ago, Macy's has continually generated excellent returns for its shareholders and employees. Currently, in the midst of a global recession, Macy's has generated huge profits with same store sales increasing 5.3% year to date. In 2012 same store sales increased 4.6% in the month of February alone (Macy's Inc., 2012). In fact, throughout the duration of 2012, Macy's is projecting even larger profits for its underlying business operations. Even though Macy's has experienced success with both its assortments and brand, its competitors haven't faired so well. Sears, due in part to part to a lackluster holiday season, has been forced to close nearly 120 locations to generate excess liquidity in an effort to shore up its balance sheet (Isadora, 2011).Other competitors who cater specifically to the middle class consumer have also lost significant amounts of market share as consumers trade down due to the economy. Macy's, with its ride array of assortments and products continues to grow as it attempts to capture market share from failing competitors. Macy's is also unique as it operates in a unique market demographic. It is upscale, but not to the extent of Saks Fifth Avenue or a Nordstrom. It is also not as low scale as a JC Penny
Q4. Briefly identify external factors that have impacted newspaper industry in the past 20 years. How have diversification and differentiation strategies sustained business growth for the HKET group?
D. How companies in the publishing industry are adjusting their strategies to cope with today’s challenges
Newspaper Owner 1 is a “diversified media company that generates most of its revenues through newspapers sold around the country and around the world” (pg. 122). Competition for subscribers and advertising revenues