Print Media Adaptation to Digital Era
Added on 2020-02-12
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Business Policy and Strategy
Table of ContentsINTRODUCTION...........................................................................................................................3STATE OF THE NEWSPAPER PUBLISHING INDUSTRY TODAY........................................4Data on declining circulation and revenue..................................................................................4Status of news paper leaders.......................................................................................................4FACTORS BY WHICH NEWSPAPERS ARE FACING DECLINING REVENUES..................5External Assessment...................................................................................................................5INTERNAL ASSESSMENT...........................................................................................................6Organisational process structure ................................................................................................6HR Capabilities...........................................................................................................................6Financial position........................................................................................................................7Marketing/ Sales capabilities......................................................................................................7Operational Capabilities..............................................................................................................8Strength and weakness as a publisher.........................................................................................8COMPANIES IN THE PUBLISHING INDUSTRY ARE ADJUSTING THEIR STRATEGIESTO COPE WITH THE CHALLENGES .........................................................................................9STEPS THE CHRONICLE GAZETTE MIGHT TAKE IN ORDER TO DEAL WITH THECHALLENGES ..............................................................................................................................9Short terms steps.........................................................................................................................9Long term steps.........................................................................................................................10CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
INTRODUCTIONStrategies which helps to a company to take decisions and make actions to perform theirbusiness activities (Kley, Lerch and Dallinger, 2011). Most of the organisation are having theirbusiness policy which helps and guide them to act in a particular condition. This report is havingfocus on The Chornicle Gazette which is a newspaper company and they are publishingnewspaper on weekly basis. They are highly affected by the internet, they are having a heavydownfall in the number of customers. This report is having content on the factors which aredecreasing their revenues and business. It is having focus on the internal and external assessmentof the organisation. STATE OF THE NEWSPAPER PUBLISHING INDUSTRY TODAYData on declining circulation and revenueThe Chronicle Gazette is having a regular fallen down in their sales after 2008. Sales ofthe newspaper had been fallen by 35% in the subscription and advertising which created a hugeimpact on the revenues and business (Jahangirian and et. al., 2010). After it they are having aconsistent decrease in the sales from eight years. According to the American newspaperassociation, decline in the circulation of the newspapers had started from the the year of 1993and comparing it to the 2008 index, it is having 22% less circulation. After the year 1997 most ofthe advertiser were moving to the internet to publish their advertisements. Now after the year of1997 internet advertisers has increased by 13 times. So these data are showing that peoples aremoving from newspaper to internet.Status of news paper leadersThe leading newspapers like; The New York Times have claimed in 2009 that they wereincreased their revenues by 29%. In the year of 2008 they are having $29.8 Million grossrevenues which has increased in 2009 with US$ 36.3 Million which shows that peoples arehaving interest in the leading news papers and journals. Most of the users are having a positiveattitude towards these leading newspapers and they are having faith on it. So they are having lessimpact of the internet on them as compare to The Chronicle Gazette (Xiao and Cooke, 2012). Sothese data shows that readers are having interest and faith on it and they are having a regular useof them to know news. The Wall Street Journal has increase their scope to provide their newsand reports by internet which helps them to stay in the competition.
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