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.
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.
Consider what has happened in the retailing arena. Traditional retailing stores have been heavily affected. Or consider the fate of many dot-coms. One of the most spectacular dot-com stories — the rise and fall of AOL — illustrates how technology telephone-based online computing created a huge success story, and how technology Internet email led to a reversal of this success.
A major goal of strategic planning is to anticipate environmental changes economic, business, political, governmental, social and prepare the organization for dealing with them. Clearly, in this age of rapid change, all business entities should engage in some measure of strategic planning.
One industry that is currently suffering the destabilizing consequences of the Internet revolution is the publishing industry. Included here are textbook publishers, trade book publishers, newspaper publishers, and magazine publishers. All publishers are facing serious challenges.
Revenues are down across the board. If these challenges are not handled properly, there is a good chance that a large portion of the publishing industry as we now know it will go out of business. One challenge publishers face is dealing with the fact that information traditionally controlled by them is now freely available to the public through the Internet.
Not long ago, if a homeowner wanted to place tiles on his bathroom floor, he would purchase a How-to book. Today, he goes online and encounters several sources that show how to lay tile — some even provide a video clip to illustrate the process.
As a result, sales of How-to books are plunging.
Her paper has a paid circulation ofcustomers. It is a first-rate newspaper and over the years, its writers have won awards for their work. Susan knows that declining subscriptions and revenues are affecting the entire publishing industry. With the Internet, people have access to an endless source of news stories — for free!
When major stories break — such as the London terrorist bombings or the Sichuan earthquake — detailed accounts begin appearing on Wikipedia almost immediately, and videos show up on YouTube. Furthermore, by Googling topics, readers can explore interesting stories to whatever depth they desire.
Susan is worried that her newspaper will become the 21st century equivalent of buggy whip manufacturers. Hopefully, by looking at the problem from 40, 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 pages typed single spaced with 12 point font. You also need to propose strategies the newspaper can investigate to survive in the new business environment.
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. Introduction — goals of the report 2.
State of the newspaper publishing industry today 2. Data on declining circulation and revenue 2. Status of newspaper leaders, e. Why newspapers are facing declining circulations and revenues 3.
Social, cultural, demographic, and environmental forces 3. Political, governmental and legal forces 3. Organizational processes and structure 4.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. The principal cause of The Chronicle Gazette’s problems is the rise of the Internet.
With the Internet, people have access to an endless source of news stories – for free! A regular feature of Internet sites like Yahoo, MSNBC, Hotmail and CNN News is up-to-the-minute news accounts, often accompanied by video treatments of hot topics/5.
MGT Strategic Planning at the Chronicle Gazette: External Factor Evaluation (EFE) matrix 4. Internal assessment Organizational processes and structure HR capabilities Steps The Chronicle Gazette might take in order to deal with the challenges Short-term steps.
External Factor Evaluation (EFE) matrix. Chronicle Gazette also enjoy good will from perennial readers who have remained loyal to the paper despite the whirlwind in the industry. The greatest weakness of the paper is a lack of energy, motivation, machinery and motivation to enable them to cope with fast industrial dynamics.
May 12, · The principal cause of The Chronicle Gazette‘s problems is the rise of the Internet. With the Internet, people have access to an endless source of news stories – for free!
With the Internet, people have access to an endless source of news stories – for free! External Factor Evaluation (EFE) Matrix According to David , the External Factor Evaluation (EFE) Matrix helps strategists to summarize and assess the economic, socio-cultural, environmental, demographic, political, legal, technological, and competitive information.
The table designed below shows the EFE Matrix of The Chronicles Gazette.