Strategic Management - Fairfax Media

Strategic Management 1
Strategic Management - Fairfax Media
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Strategic Management 2
An overview of Fairfax’s past strategies and various strategies available.
Over the years, Fairfax has continuously examined its medium-term growth strategy to
ensure it expands and grows its print side of the business as well as other areas. Competition
from digital platforms forced Fairfax in the inclusion of other traditional media companies to
initiate its digital growth plans. For instance, in 2010, The Age and Sydney Morning suffered
from falling circulation hence losing classified revenues to online portals such as Carsales.com,
and employment website seek (Day and Chessell, 2010).
Fairfax has also integrated CSR strategies and objectives into its business operations and
processes. Fairfax is focused on making a positive contribution in communities since the
interests of communities, environment, shareholders, employees, and customers are considered
crucial (Fairfax media, 2019). The company operates a decentralized CSR program so that it
maximizes the benefit to staff, customers, and local communities. The company has empowered
everyone in the company to bring to life CSR through the actions they take and also through
their work. In addition, in achieving CSR, Fairfax is committed to transparency in disclosing
major performance indicators, including social, financial, and environmental indicators.
In 2017, Fairfax unveiled its new commercial strategy majorly for its metro publications.
This new strategy was set to improve technology, integration capabilities, design, and allow
people to understand premium publishers (Samios, 2017). The new capabilities would allow the
company to solve challenges as well as capitalize on brand opportunities. In addition, to ensure
publisher capabilities are expanded, Fairfax also brought together a commercial innovation team
who would double the strategic capability of the company. Fairfax was also set to move away
from Facebook since as a social media platform, Facebook was not capable of working as a