This is the time for the newspaper industry, The Economist in particularly, to fully explore alternative news delivery platforms, such as mobile phone and the Internet. “Old media” is no longer support the demand, and people tend to use more tablets and mobile phone rather than buy printed newspapers (Musil, 2013). Nevertheless, a simple change of platform is not guarantee of success.
Transformation in the Economist demands an ambitious agenda:
- A better understanding of the forces reshaping the entire media environment.
- Understanding where new opportunities are emerging.
- Launching the products that will unlock these opportunities while minimizing cost and risk.
Consequently, the Economist needs to accumulate certain innovative capabilities in order to generate a platform for a print-to-digital transformation.
Learning Capabilities
Learning capability is a resource that can become a source of sustainable competitive advantage for the Economist. Through learning management processes, it can have more related information to provide a high level of management to select and compare, and come out with more effective strategies to gain the benefits of the market. This means that appropriate investments in learning initiatives can enhance the Economists’ performance. However, not all of the resources are direct contributors. Although resources such as technology, culture and knowledge conversion are necessary for effective learning capabilities they did not impact organizational performance directly. They work in combination with and support other resources, such as knowledge acquisition and knowledge application that may contribute directly to organizational success
Accordingly, the Economist should build a proper foundation for ...
... middle of paper ...
...these changes mean that the newspaper will be replanned and reproduced. Production journalists will publish stories according to peak viewing times on the web rather than old print deadlines. Consequently, the changes in the newspaper’s production will necessitate changing working practices, which is an inevitable step. Production journalists will be more digitally focused now.
Finally, the Economist should be more engaged with readers to ensure it addresses readers’ demands for breaking news and quality analysis.
The current plan for the newspaper transformation and economist.com is a result already made changes towards the digital media. However, the competitive setting of the industry requires continuous changes, so that business can adapt to an environment where people read on the desktops, smart phones, and tablets more and more, spending less on print papers
In the documentary film, Page One: Inside The New York Times, the inner world of journalism is revealed through journalists David Carr and Brian Stelter as the newspaper company The New York Times, struggles to keep alive within a new wave of news journalism. The film is dedicated to reveal the true inner mechanics of what modern day new journalists face on a daily basis and leaves the audience almost in a state of shock. It broadcasts news journalism as yes, an old school method of news generation, but it also highlights an important component that reveals the importance behind this “old school” methodology. We often think that progression always correlates with positive products, but the documentary insists that within the case of modern journalism, the new wave method is actually a detriment that can reap negative consequences.
Newspapers in Australia have never been sustainable in their own right. Once newspapers were two businesses, the sale of news and the sale of advertising (Simons 2011). However, in the modern media environment classified ads no longer come hot off the press on a Saturday morning combined with the daily news. Classified ads are now online, available anytime, and the companies selling the advertising often have nothing to do with news reporting. Media organisations therefore are suffering from variations of the collapse of the pre Internet business model but, because of its dependence on classifieds, Fairfax has had a faster decline than most other Australian newspapers (Simons 2011). Advertising online is cheap, and in the web-based world Fairfax does not have a monopoly or a premium position to gain from Internet based news delivery. The mistakes made in the transition to a digital business and the failure to diversify brought Fairfax to its knees,
WSJ is making efforts to use social media and other digital applications such as Storyful, to help newsrooms source, verify and distribute breaking news and viral content. The growth of digital is significant but print is still important to most newspapers which means that print will continue. But if majority of readers are going mobile, it will be time to change the business model in order to keep up with subscribers.
Within the news environment changes are constantly taking place. Whether that be new equipment, changes in staff members or changes in structure; being adaptable is the key to succeed in this industry.
Herbert, John. Journalism in the Digital Age: Theory and Practice for Broadcast, Print and On-line Media. Oxford: Focal, 2000. Print
In order to survive in the competitive environment of today’s business world, it is imperative for organisations to cope with uncertainty and unrest. The strategies pertaining to survival /coping are the result of accumulated/ acquisition of new knowledge that occurs through learning (Bhaskar & Mishra, 2014). An organisation’s ability in learning, applying and spreading new insight has been persuaded as the fundamental strategic capability (Fiol & Lyles, 1985). Bontis et al. (2002) noted that in order to continue to exist in today’s complex environment, organisations must learn efficiently and effectively. The rate at which individuals and organisations learn is the leading source of competitive advantage (Stata, 1989). Thus, learning is pondered
Newspapers’ expansion of their feature and analytical coverage usually accompanies growing photo size, decreasing number of articles on the front page, and growing instances for straight news. Newspapers also changed their news orientation most radically from 2002 to 2009 (Manikawa, 3535), the average size of the photo grew alarmingly fast and the number of articles on the front page decreased the fastest during the period. This suggests strong efforts made by publishers to remake and reimagine the newspaper as a commercial product during this
Today, the development of the publication industry is vulnerable to the growing impact of technology. Contemporary technology affects the publication industry in terms of internal business processes, consumer behavior and the nature of business. Such issues as growing impact of information technologies and rise of online publication, the decrease consumer interest in print media, the wide introduction of new technology and automation in the publication industry, and many others influence consistently the development of the publishing industry. In actuality, effects of technology on the publication industry are controversial, but the technology progress and their impact on the publication industry are irrevocable
The advancement in technology across the world is a major cause of the changes in the workplace. For instance, the advancements in computers are astounding. Mainframe computers have given way to personal computers, then laptop computers, and now hand-held tablets. Findings of a study by IDC, a market research company, showed that by 2015 more people will be connecting to the Internet using tablets, smart phones, and other mobile gadgets compared to those who use the Internet through their desktop computers (Schroeder). Cell phones have also seen a revolution by becoming faster, more efficient and more feature-rich. It is even possible to check email on the way to work using a handheld device. A Nielson fact sheet outlining the usage of various devices in America shows that “there are 223 million cell phone users over the age of 13, and 25% of the mobile devices sold during Q3 of 2009 were smart phones. That is estimated to go up to between 40-50% during 2010” (Heimbuch). Individuals can text, status update, tweet, or reach other seamlessly by mobile devices that can fit in their pockets. Even the printed word may become obsolete according to Aaron Bradley, as outlined in his online article called “A Modest Proposal for Newspapers in the 21st Century.” In his article, he discusses how the printing of newspapers is be...
The print media industry has changed radically with the development of the internet, as computerized stages are picking up ubiquity, while print daily papers are losing gatherings of people. This has constrained most print media
The newspaper industry presaged its decline after the introduction of the television and televised broadcasting in the 1950s and then after the emergence of the internet to the public in the 1990s and the 21st century with its myriad of media choices for people. Since then the readership of printed media has declined whilst digital numbers continue to climb. This is mostly due to television and the internet being able to offer immediate information to viewers and breaking news stories, in a more visually stimulating way with sound, moving images and video. Newspapers are confined to paper and ink and are not considered as ‘alive’ as these other mediums.
The publishing industry has experienced massive changes over the past decade. With the introduction and development of digital technologies, publishers have had to learn to adapt their methods and embrace these advances. Books and magazines are no longer bought solely at book stores, read only through physical copies and the way we market and distribute a publication has migrated mostly online, causing the traditional publishing model to be skewed. These new found technologies are a positive addition to the publishing field, allowing for more growth in a variety of areas and helping keep traditional print publishing alive. In this essay
However, Nieman Journalism Lab proves that 96% of newsreading is done in print editions (Journalism.about.com, 2014). According to The Audit Bureau of Circulations (ABC) which was released in 2014, newspaper circulation has increas...
Although the future of newspapers and print media is very gloomy right now I think that once the newspapers that were revered and respected in their heyday develop a model that can incorporate and transition traditional news along with current web and online media at a reasonable rate and with the high quality that we have been known to expect I think that newspapers will make a surprising comeback and will be once again at the head to the public sphere and will be viable and thriving online entities.
Learning is defined as a measurable and the act or the process of acquiring a relatively permanent change in a behavioural tendency through knowledge, skills and experience. People learn in their lifetime. The learning process continues throughout our life and it is the first step in becoming an outstanding performer. In today’s rapidly developing world, if you do not keep learning, you are not standing still, you are falling behind. This is not only applied to individual, but also for the organizations. But here comes the questions: Is individual and the organization can learn? In order to answer this question, we need to imply the use of the theories and ideas and also discuss how the culture, group and emotion of the individuals or organization will affect the learning organization.