logo

Business Policy and Strategy : The Chronicle Gazette

   

Added on  2021-02-19

15 Pages3137 Words26 Views
BUSINESS POLICY AND STRATEGY
Business Policy and Strategy : The Chronicle Gazette_1
TABLE OF CONTENTS1. INTRODUCTION.......................................................................................................................32. STATE OF NEWSPAPER PUBLISHING INDUSTRY TODAY.............................................32.1 Data for declining revenue and circulation............................................................................32.2 Status of newspaper leader....................................................................................................53. REASONS BEHIND DECLINING REVENUES AND CIRCULATIONS OF NEWSPAPER53.1 External Assessment..............................................................................................................54. INTERNAL ASSESSMENT.......................................................................................................84.1 Organisational structure and process.....................................................................................84.2 HR capabilities.......................................................................................................................84.3 Financial Position..................................................................................................................84.4 Marketing\ sales capabilities..................................................................................................84.5 Operational Capabilities........................................................................................................84.6 Strength and Weakness as a publisher...................................................................................95 STRATEGIES COMPANIES ARE INCORPORATING TO COPE WITH CHALLENGESOF PUBLISHING INDUSTRY......................................................................................................96 STEPS CHRONICLE GAZATTE CAN TAKE TO DEAL WITH CHALLENGES..................96.1 Short term steps.....................................................................................................................96.2 Long term steps......................................................................................................................9CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
Business Policy and Strategy : The Chronicle Gazette_2
1. INTRODUCTIONBusiness policies are the set of guidelines which governs actions of organisation whereas,business strategies are referred as statements which are set by firm with the motive of sustainingcompetitive advantage and meeting customer expectations. The present study is based on TheChronicle Gazette which is a leading newspaper in metropolitan area. The report will outlinedata to support to decline in circulation and revenue of publishing company and will supportwith present status of newspaper leaders like Wall street Journals and New York Times. Further,in report will identify factors which are influencing growth of firm with the help of internal andexternal assessment. In last, study will summarize by outlining strategies and steps which can beincorporated by firm to deal with challenges of publishing industry.2. STATE OF NEWSPAPER PUBLISHING INDUSTRY TODAY2.1 Data for declining revenue and circulationThe increase in cable and internet news has transformed services of publishing industry.The cable news network and bloggers are cover stories very quickly and offers free access toglobal news (Chyi, Lewis and Zheng, 2012). Services of newspaper advertisers are lured awayby internet ad networks. The changes in preferences and access to services has led to decline inrevenue and circulation of publishing industry. As per Sparks and et.al., 2016, fall in circulationstarted during mid- nineties and has fallen more than 3rd and ad revenue of circulation has fallenby 20 % from past 10 years. In accordance with this, it can be said that revenue of publishingindustry has fallen by half. On the other hand, advertising revenue for 2010 decrease by 26 %that is to $22.28 billion. Yeung, 2015, outlined about Next magazine which failed to differentiatein its offerings in comparison on free online content and had experience sharp decline incirculation. As per management of next media, average circulation per issue of magazine is ofabout 60, 000 copies which denotes 15 % fall as per earlier year. Further, absolute level ofincrease in paid daily circulation peaked till 1987 and has declined by around 40% since thenbecause emergence of internet. Moreover, the gross revenue of newspaper advertising increasedtill 2005 and declined by 50 % till 2013. It was evident that average newspaper advertisingrevenue accounted for 82 % but by 2013 the proportion is down by 62 %.3
Business Policy and Strategy : The Chronicle Gazette_3
Figure 1: The newspaper publisher revenue(Source: Is the Newspaper Industry Dying? 2018)Figure 2: US Newspaper publishing industry performance(Source: Is the Newspaper Industry Dying? 2018)In accordance with above illustration, it can be said that the circulation of weekdays fell by7 % over a year till fourth quarter of 2015 whereas drop in circulation of Sunday was by 4 %.4
Business Policy and Strategy : The Chronicle Gazette_4

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Business Policy and Strategy : Report
|14
|3971
|64

News Paper Publishing INDUSTRY
|10
|3319
|162

Business Policy and Strategy INTRODUCTION
|11
|3024
|432

Strategies for Declining Newspaper Industry
|17
|3159
|34

The Chronicle Gazette: Business Policy and Strategy Case Study Assignment
|15
|3756
|241

Decline of Newspaper Industry and Strategies for Chronicle Gazette
|21
|4181
|368