Question

Explain why businesses such as the newspaper industry may need to rethink their business strategy, and provide some advice on possible strategic management changes. Be specific to include goals/objects, strengths, and weaknesses.

Your response should be at least 200 words in length.

Answer 1

Strategic changes which newspaper can be reinvest on are as follows

· Flipping their model – today the world has changed the way they are consuming information as they are more into digital world. The newspaper must come up with a creative idea and should focus on online business and old printing method can be used to promote the online strategy.

· Flipping the focus – newspaper is interested to develop news and broadcast it to subscribers and readers. But today the information is omnidirectional so the newspaper should focus more on community engagements and local conversations.

· Coming up with new model for revenue – newspaper industry should utilize sales force by adopting a model which is performance driven.

Strength	Weakness
They have a good reach among local readers	People are more depended on social media
Low cost	Today information spread is omnidirectional
good relationship with the dealers	Industry is facing higher turnover ratio
Have maintained quality over years	They lack behind financial planning.