Business Policy and Strategy INTRODUCTION
Added on 2021-02-20
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Business Policy andStrategy
Table of ContentsINTRODUCTION...........................................................................................................................1State of newspaper publishing industry today............................................................................1Why newspapers are facing declining circulations and revenues...............................................3Internal assessment......................................................................................................................6Strategies for cope with challenges of publishing industry........................................................7Steps The Chronicle Gazette might take in order to deal with challenges..................................7REFERANCES................................................................................................................................9
INTRODUCTIONBusiness policies and strategies are very important for functioning of organisation as ithelps in providing guidelines to company (Haley and Haley, 2013). Business policy can bedefine as a scope within which an organisation can take decision and these are the guidelines thatleads to provide direction to company. Strategies refer as a plan of actions which helps inproviding direction as well as achieving set goals and objectives. Policies are blueprints onwhich organisation works where as strategies are more concerned with organisational decisionsto attain targets. This report is based on The Chronicle Gazette which is a leading newspaper inmajor metropolitan. Susan Feinman is a publisher of this newspaper and it is a first ratednewspaper over paper. This report is going to cover state of newspaper publishing industry withproper data. It also includes issues which newspaper industry is facing. Different strategies usedby this industry to cope up with challenges. State of newspaper publishing industry todayNewspapers are very critical part of news landscape but in today's world most ofcustomers are hitting towards digital news. Due to changes in social trends and advancetechnology newspapers publishing company are facing serious issues. Traditional retailingindustry has been negativity affected because of online system. Susan Feinman is a publisher ofThe chronicle Gazette which is a highly rated newspaper from many years. With rise of internetSusan's newspapers is face issues and it has been a steady decline in subscription of newspapers.It has been noticed that in last eight years it newspapers subscription has been fallen to 35%. dueto declining in its total subscription it has been analysed that advertising revenues also droppedby 28% . Since mid 1990s to present time newspapers publishing companies has faced variousissues and decline in its subscription or customers (Lawton, 2017). Decline of newspapers is aserious issue faced by this industry as it leads to loss in advertising as well as precipitous drop ncirculation. 1
In US market there are three highest circulation daily newspapers are The New YorkTimes, The Wall Street and The Washington Post. Alliance for Audited Media is a group that isresponsible for auditing circulation figures of various North American newspapers and otherpublishing companies. In recent years, these publishers has not been able to fully report theirdigital circulation to Alliance for Audited Media. According to AAM data it has been noticesthat there is risen in digital circulation of 2018. This data project that there is 6% rise in weekdayas well as 8% in Sunday. As per independently report produced by The New York Times andThe Wall Street Journal, it has been identified that both of these companies has gain substantialgrowth in digital circulation. According to data, The New York Times has experience 27% gainwhere as Wall Street Journal gain 23% in 2017. total weekday digital circulation world has beenrise up to 17% if independent report of these companies were included with AAM data of 2017and 2018. These collected figures would also change picture as a combined print and digitalcirculation (Rugman and Verbeke, 2017). There is overall drop in circulation in spite of digitalboost driven by these two national brands. 2Illustration 1:Newspaper circulationSource: Despite subscription surges for largest U.S. newspapers, circulation andrevenue fall for industry overall.
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