Case Study Description of Managing Multi-Media Audiences at WHDH (Boston)
WHDH's Channel 7 News rose to the #1 position in Boston-area news broadcasting through its embrace of an innovative format and affiliating with NBC. Since the early 2000s, however, other news programs had copied their format, and young audiences had begin to use the Internet to get their news, dramatically cutting ratings and ad revenue. Station owner Edmund Ansin and general manager Chris Wayland faced a choice of whether to use the TV news to push viewers to the station's website and monetize online, or use an online presence to build loyalty to Channel 7 and thus drive viewers to TV.
Swot Analysis of "Managing Multi-Media Audiences at WHDH (Boston)" written by Thales S. Teixeira, V. Kasturi Rangan includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that News Viewers facing as an external strategic factors. Some of the topics covered in Managing Multi-Media Audiences at WHDH (Boston) case study are - Strategic Management Strategies, Competition, Customers, Decision making, Economics and Sales & Marketing.
Some of the macro environment factors that can be used to understand the Managing Multi-Media Audiences at WHDH (Boston) casestudy better are - – central banks are concerned over increasing inflation, increasing energy prices, increasing household debt because of falling income levels, supply chains are disrupted by pandemic , challanges to central banks by blockchain based private currencies, talent flight as more people leaving formal jobs, increasing government debt because of Covid-19 spendings,
increasing inequality as vast percentage of new income is going to the top 1%, increasing transportation and logistics costs, etc
Introduction to SWOT Analysis of Managing Multi-Media Audiences at WHDH (Boston)
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in Managing Multi-Media Audiences at WHDH (Boston) case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the News Viewers, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which News Viewers operates in.
According to Harvard Business Review, 75% of the managers use SWOT analysis for various purposes such as – evaluating current scenario, strategic planning, new venture feasibility, personal growth goals, new market entry, Go To market strategies, portfolio management and strategic trade-off assessment, organizational restructuring, etc.
SWOT Objectives / Importance of SWOT Analysis and SWOT Matrix
SWOT analysis of Managing Multi-Media Audiences at WHDH (Boston) can be done for the following purposes –
1. Strategic planning using facts provided in Managing Multi-Media Audiences at WHDH (Boston) case study
2. Improving business portfolio management of News Viewers
3. Assessing feasibility of the new initiative in Sales & Marketing field.
4. Making a Sales & Marketing topic specific business decision
5. Set goals for the organization
6. Organizational restructuring of News Viewers
Strengths Managing Multi-Media Audiences at WHDH (Boston) | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of News Viewers in Managing Multi-Media Audiences at WHDH (Boston) Harvard Business Review case study are -
High brand equity
– News Viewers has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled News Viewers to keep acquiring new customers and building profitable relationship with both the new and loyal customers.
Ability to lead change in Sales & Marketing field
– News Viewers is one of the leading players in its industry. Over the years it has not only transformed the business landscape in its segment but also across the whole industry. The ability to lead change has enabled News Viewers in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
Superior customer experience
– The customer experience strategy of News Viewers in the segment is based on four key concepts – personalization, simplification of complex needs, prompt response, and continuous engagement.
Operational resilience
– The operational resilience strategy in the Managing Multi-Media Audiences at WHDH (Boston) Harvard Business Review case study comprises – understanding the underlying the factors in the industry, building diversified operations across different geographies so that disruption in one part of the world doesn’t impact the overall performance of the firm, and integrating the various business operations and processes through its digital transformation drive.
Organizational Resilience of News Viewers
– The covid-19 pandemic has put organizational resilience at the centre of everthing that News Viewers does. Organizational resilience comprises - Financial Resilience, Operational Resilience, Technological Resilience, Organizational Resilience, Business Model Resilience, and Reputation Resilience.
Analytics focus
– News Viewers is putting a lot of focus on utilizing the power of analytics in business decision making. This has put it among the leading players in the industry. The technology infrastructure suggested by Thales S. Teixeira, V. Kasturi Rangan can also help it to harness the power of analytics for – marketing optimization, demand forecasting, customer relationship management, inventory management, information sharing across the value chain etc.
Strong track record of project management
– News Viewers is known for sticking to its project targets. This enables the firm to manage – time, project costs, and have sustainable margins on the projects.
Innovation driven organization
– News Viewers is one of the most innovative firm in sector. Manager in Managing Multi-Media Audiences at WHDH (Boston) Harvard Business Review case study can use Clayton Christensen Disruptive Innovation strategies to further increase the scale of innovtions in the organization.
Sustainable margins compare to other players in Sales & Marketing industry
– Managing Multi-Media Audiences at WHDH (Boston) firm has clearly differentiated products in the market place. This has enabled News Viewers to fetch slight price premium compare to the competitors in the Sales & Marketing industry. The sustainable margins have also helped News Viewers to invest into research and development (R&D) and innovation.
Ability to recruit top talent
– News Viewers is one of the leading recruiters in the industry. Managers in the Managing Multi-Media Audiences at WHDH (Boston) are in a position to attract the best talent available. The firm has a robust talent identification program that helps in identifying the brightest.
Successful track record of launching new products
– News Viewers has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. News Viewers has effective processes in place that helps in exploring new product needs, doing quick pilot testing, and then launching the products quickly using its extensive distribution network.
Highly skilled collaborators
– News Viewers has highly efficient outsourcing and offshoring strategy. It has resulted in greater operational flexibility and bringing down the costs in highly price sensitive segment. Secondly the value chain collaborators of the firm in Managing Multi-Media Audiences at WHDH (Boston) HBR case study have helped the firm to develop new products and bring them quickly to the marketplace.
Weaknesses Managing Multi-Media Audiences at WHDH (Boston) | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Managing Multi-Media Audiences at WHDH (Boston) are -
High operating costs
– Compare to the competitors, firm in the HBR case study Managing Multi-Media Audiences at WHDH (Boston) has high operating costs in the. This can be harder to sustain given the new emerging competition from nimble players who are using technology to attract News Viewers 's lucrative customers.
Workers concerns about automation
– As automation is fast increasing in the segment, News Viewers needs to come up with a strategy to reduce the workers concern regarding automation. Without a clear strategy, it could lead to disruption and uncertainty within the organization.
Products dominated business model
– Even though News Viewers has some of the most successful products in the industry, this business model has made each new product launch extremely critical for continuous financial growth of the organization. firm in the HBR case study - Managing Multi-Media Audiences at WHDH (Boston) should strive to include more intangible value offerings along with its core products and services.
Slow to harness new channels of communication
– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, News Viewers is slow explore the new channels of communication. These new channels of communication mentioned in marketing section of case study Managing Multi-Media Audiences at WHDH (Boston) can help to provide better information regarding products and services. It can also build an online community to further reach out to potential customers.
High dependence on star products
– The top 2 products and services of the firm as mentioned in the Managing Multi-Media Audiences at WHDH (Boston) HBR case study still accounts for major business revenue. This dependence on star products in has resulted into insufficient focus on developing new products, even though News Viewers has relatively successful track record of launching new products.
High dependence on existing supply chain
– The disruption in the global supply chains because of the Covid-19 pandemic and blockage of the Suez Canal illustrated the fragile nature of News Viewers supply chain. Even after few cautionary changes mentioned in the HBR case study - Managing Multi-Media Audiences at WHDH (Boston), it is still heavily dependent upon the existing supply chain. The existing supply chain though brings in cost efficiencies but it has left News Viewers vulnerable to further global disruptions in South East Asia.
Interest costs
– Compare to the competition, News Viewers has borrowed money from the capital market at higher rates. It needs to restructure the interest payment and costs so that it can compete better and improve profitability.
High cash cycle compare to competitors
News Viewers has a high cash cycle compare to other players in the industry. It needs to shorten the cash cycle by 12% to be more competitive in the marketplace, reduce inventory costs, and be more profitable.
Increasing silos among functional specialists
– The organizational structure of News Viewers is dominated by functional specialists. It is not different from other players in the Sales & Marketing segment. News Viewers needs to de-silo the office environment to harness the true potential of its workforce. Secondly the de-silo will also help News Viewers to focus more on services rather than just following the product oriented approach.
Skills based hiring
– The stress on hiring functional specialists at News Viewers has created an environment where the organization is dominated by functional specialists rather than management generalist. This has resulted into product oriented approach rather than marketing oriented approach or consumers oriented approach.
Slow decision making process
– As mentioned earlier in the report, News Viewers has a very deliberative decision making approach. This approach has resulted in prudent decisions, but it has also resulted in missing opportunities in the industry over the last five years. News Viewers even though has strong showing on digital transformation primary two stages, it has struggled to capitalize the power of digital transformation in marketing efforts and new venture efforts.
Opportunities Managing Multi-Media Audiences at WHDH (Boston) | External Strategic Factors
What are Opportunities in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The opportunities highlighted in the Harvard Business Review case study Managing Multi-Media Audiences at WHDH (Boston) are -
Changes in consumer behavior post Covid-19
– Consumer behavior has changed in the Sales & Marketing industry because of Covid-19 restrictions. Some of this behavior will stay once things get back to normal. News Viewers can take advantage of these changes in consumer behavior to build a far more efficient business model. For example consumer regular ordering of products can reduce both last mile delivery costs and market penetration costs. News Viewers can further use this consumer data to build better customer loyalty, provide better products and service collection, and improve the value proposition in inflationary times.
Using analytics as competitive advantage
– News Viewers has spent a significant amount of money and effort to integrate analytics and machine learning into its operations in the sector. This continuous investment in analytics has enabled, as illustrated in the Harvard case study Managing Multi-Media Audiences at WHDH (Boston) - to build a competitive advantage using analytics. The analytics driven competitive advantage can help News Viewers to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.
Learning at scale
– Online learning technologies has now opened space for News Viewers to conduct training and development for its employees across the world. This will result in not only reducing the cost of training but also help employees in different part of the world to integrate with the headquarter work culture, ethos, and standards.
Use of Bitcoin and other crypto currencies for transactions
– The popularity of Bitcoin and other crypto currencies as asset class and medium of transaction has opened new opportunities for News Viewers in the consumer business. Now News Viewers can target international markets with far fewer capital restrictions requirements than the existing system.
Leveraging digital technologies
– News Viewers can leverage digital technologies such as artificial intelligence and machine learning to automate the production process, customer analytics to get better insights into consumer behavior, realtime digital dashboards to get better sales tracking, logistics and transportation, product tracking, etc.
Low interest rates
– Even though inflation is raising its head in most developed economies, News Viewers can still utilize the low interest rates to borrow money for capital investment. Secondly it can also use the increase of government spending in infrastructure projects to get new business.
Reforming the budgeting process
- By establishing new metrics that will be used to evaluate both existing and potential projects News Viewers can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.
Better consumer reach
– The expansion of the 5G network will help News Viewers to increase its market reach. News Viewers will be able to reach out to new customers. Secondly 5G will also provide technology framework to build new tools and products that can help more immersive consumer experience and faster consumer journey.
Lowering marketing communication costs
– 5G expansion will open new opportunities for News Viewers in the field of marketing communication. It will bring down the cost of doing business, provide technology platform to build new products in the Sales & Marketing segment, and it will provide faster access to the consumers.
Reconfiguring business model
– The expansion of digital payment system, the bringing down of international transactions costs using Bitcoin and other blockchain based currencies, etc can help News Viewers to reconfigure its entire business model. For example it can used blockchain based technologies to reduce piracy of its products in the big markets such as China. Secondly it can use the popularity of e-commerce in various developing markets to build a Direct to Customer business model rather than the current Channel Heavy distribution network.
Harnessing reconfiguration of the global supply chains
– As the trade war between US and China heats up in the coming years, News Viewers can build a diversified supply chain model across various countries in - South East Asia, India, and other parts of the world. This reconfiguration of global supply chain can help, as suggested in case study, Managing Multi-Media Audiences at WHDH (Boston), to buy more products closer to the markets, and it can leverage its size and influence to get better deal from the local markets.
Redefining models of collaboration and team work
– As explained in the weaknesses section, News Viewers is facing challenges because of the dominance of functional experts in the organization. Managing Multi-Media Audiences at WHDH (Boston) case study suggests that firm can utilize new technology to build more coordinated teams and streamline operations and communications using tools such as CAD, Zoom, etc.
Finding new ways to collaborate
– Covid-19 has not only transformed business models of companies in Sales & Marketing industry, but it has also influenced the consumer preferences. News Viewers can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.
Threats Managing Multi-Media Audiences at WHDH (Boston) External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study Managing Multi-Media Audiences at WHDH (Boston) are -
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for News Viewers in the Sales & Marketing industry. The Sales & Marketing industry is already at various protected from local competition in China, with the rise of trade war the protection levels may go up. This presents a clear threat of current business model in Chinese market.
Stagnating economy with rate increase
– News Viewers can face lack of demand in the market place because of Fed actions to reduce inflation. This can lead to sluggish growth in the economy, lower demands, lower investments, higher borrowing costs, and consolidation in the field.
Barriers of entry lowering
– As technology is more democratized, the barriers to entry in the industry are lowering. It can presents News Viewers with greater competitive threats in the near to medium future. Secondly it will also put downward pressure on pricing throughout the sector.
Backlash against dominant players
– US Congress and other legislative arms of the government are getting tough on big business especially technology companies. The digital arm of News Viewers business can come under increasing regulations regarding data privacy, data security, etc.
Learning curve for new practices
– As the technology based on artificial intelligence and machine learning platform is getting complex, as highlighted in case study Managing Multi-Media Audiences at WHDH (Boston), News Viewers may face longer learning curve for training and development of existing employees. This can open space for more nimble competitors in the field of Sales & Marketing .
Increasing international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, News Viewers can face downward pressure on margins from increasing competition from international players. The international players have stable revenue in their home market and can use those resources to penetrate prominent markets illustrated in HBR case study Managing Multi-Media Audiences at WHDH (Boston) .
Environmental challenges
– News Viewers needs to have a robust strategy against the disruptions arising from climate change and energy requirements. EU has identified it as key priority area and spending 30% of its 880 billion Euros European post Covid-19 recovery funds on green technology. News Viewers can take advantage of this fund but it will also bring new competitors in the Sales & Marketing industry.
Aging population
– As the populations of most advanced economies are aging, it will lead to high social security costs, higher savings among population, and lower demand for goods and services in the economy. The household savings in US, France, UK, Germany, and Japan are growing faster than predicted because of uncertainty caused by pandemic.
New competition
– After the dotcom bust of 2001, financial crisis of 2008-09, the business formation in US economy had declined. But in 2020 alone, there are more than 1.5 million new business applications in United States. This can lead to greater competition for News Viewers in the Sales & Marketing sector and impact the bottomline of the organization.
Capital market disruption
– During the Covid-19, Dow Jones has touched record high. The valuations of a number of companies are way beyond their existing business model potential. This can lead to capital market correction which can put a number of suppliers, collaborators, value chain partners in great financial difficulty. It will directly impact the business of News Viewers.
High dependence on third party suppliers
– News Viewers high dependence on third party suppliers can disrupt its processes and delivery mechanism. For example -the current troubles of car makers because of chip shortage is because the chip companies started producing chips for electronic companies rather than car manufacturers.
Consumer confidence and its impact on News Viewers demand
– There is a high probability of declining consumer confidence, given – high inflammation rate, rise of gig economy, lower job stability, increasing cost of living, higher interest rates, and aging demography. All the factors contribute to people saving higher rate of their income, resulting in lower consumer demand in the industry and other sectors.
Regulatory challenges
– News Viewers needs to prepare for regulatory challenges as consumer protection groups and other pressure groups are vigorously advocating for more regulations on big business - to reduce inequality, to create a level playing field, to product data privacy and consumer privacy, to reduce the influence of big money on democratic institutions, etc. This can lead to significant changes in the Sales & Marketing industry regulations.
Weighted SWOT Analysis of Managing Multi-Media Audiences at WHDH (Boston) Template, Example
Not all factors mentioned under the Strengths, Weakness, Opportunities, and Threats quadrants in the SWOT Analysis are equal. Managers in the HBR case study Managing Multi-Media Audiences at WHDH (Boston) needs to zero down on the relative importance of each factor mentioned in the Strengths, Weakness, Opportunities, and Threats quadrants.
We can provide the relative importance to each factor by assigning relative weights. Weighted SWOT analysis process is a three stage process –
First stage for doing weighted SWOT analysis of the case study Managing Multi-Media Audiences at WHDH (Boston) is to rank the strengths and weaknesses of the organization. This will help you to assess the most important strengths and weaknesses of the firm and which one of the strengths and weaknesses mentioned in the initial lists are marginal and can be left out.
Second stage for conducting weighted SWOT analysis of the Harvard case study Managing Multi-Media Audiences at WHDH (Boston) is to give probabilities to the external strategic factors thus better understanding the opportunities and threats arising out of macro environment changes and developments.
Third stage of constructing weighted SWOT analysis of Managing Multi-Media Audiences at WHDH (Boston) is to provide strategic recommendations includes – joining likelihood of external strategic factors such as opportunities and threats to the internal strategic factors – strengths and weaknesses. You should start with external factors as they will provide the direction of the overall industry. Secondly by joining probabilities with internal strategic factors can help the company not only strategic fit but also the most probably strategic trade-off that News Viewers needs to make to build a sustainable competitive advantage.