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 - – there is increasing trade war between United States & China, customer relationship management is fast transforming because of increasing concerns over data privacy, increasing energy prices, increasing government debt because of Covid-19 spendings, central banks are concerned over increasing inflation, cloud computing is disrupting traditional business models, digital marketing is dominated by two big players Facebook and Google,
increasing household debt because of falling income levels, there is backlash against globalization, 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 switching costs
– The high switching costs that News Viewers has built up over years in its products and services combo offer has resulted in high retention of customers, lower marketing costs, and greater ability of the firm to focus on its customers.
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.
Low bargaining power of suppliers
– Suppliers of News Viewers in the sector have low bargaining power. Managing Multi-Media Audiences at WHDH (Boston) has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps News Viewers to manage not only supply disruptions but also source products at highly competitive prices.
Diverse revenue streams
– News Viewers is present in almost all the verticals within the industry. This has provided firm in Managing Multi-Media Audiences at WHDH (Boston) case study a diverse revenue stream that has helped it to survive disruptions such as global pandemic in Covid-19, financial disruption of 2008, and supply chain disruption of 2021.
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.
Cross disciplinary teams
– Horizontal connected teams at the News Viewers are driving operational speed, building greater agility, and keeping the organization nimble to compete with new competitors. It helps are organization to ideate new ideas, and execute them swiftly in the marketplace.
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.
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.
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.
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.
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.
Training and development
– News Viewers has one of the best training and development program in the industry. The effectiveness of the training programs can be measured in Managing Multi-Media Audiences at WHDH (Boston) Harvard Business Review case study by analyzing – employees retention, in-house promotion, loyalty, new venture initiation, lack of conflict, and high level of both employees and customer engagement.
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 -
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.
No frontier risks strategy
– After analyzing the HBR case study Managing Multi-Media Audiences at WHDH (Boston), it seems that company is thinking about the frontier risks that can impact Sales & Marketing strategy. But it has very little resources allocation to manage the risks emerging from events such as natural disasters, climate change, melting of permafrost, tacking the rise of artificial intelligence, opportunities and threats emerging from commercialization of space etc.
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.
Capital Spending Reduction
– Even during the low interest decade, News Viewers has not been able to do capital spending to the tune of the competition. This has resulted into fewer innovations and company facing stiff competition from both existing competitors and new entrants who are disrupting the industry using digital technology.
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.
Ability to respond to the competition
– As the decision making is very deliberative, highlighted in the case study Managing Multi-Media Audiences at WHDH (Boston), in the dynamic environment News Viewers has struggled to respond to the nimble upstart competition. News Viewers has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.
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.
Slow to strategic competitive environment developments
– As Managing Multi-Media Audiences at WHDH (Boston) HBR case study mentions - News Viewers takes time to assess the upcoming competitions. This has led to missing out on atleast 2-3 big opportunities in the industry in last five years.
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.
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.
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.
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 -
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.
Increase in government spending
– As the United States and other governments are increasing social spending and infrastructure spending to build economies post Covid-19, News Viewers can use these opportunities to build new business models that can help the communities that News Viewers operates in. Secondly it can use opportunities from government spending in Sales & Marketing sector.
Identify volunteer opportunities
– Covid-19 has impacted working population in two ways – it has led to people soul searching about their professional choices, resulting in mass resignation. Secondly it has encouraged people to do things that they are passionate about. This has opened opportunities for businesses to build volunteer oriented socially driven projects. News Viewers can explore opportunities that can attract volunteers and are consistent with its mission and vision.
Creating value in data economy
– The success of analytics program of News Viewers has opened avenues for new revenue streams for the organization in the industry. This can help News Viewers to build a more holistic ecosystem as suggested in the Managing Multi-Media Audiences at WHDH (Boston) case study. News Viewers can build new products and services such as - data insight services, data privacy related products, data based consulting services, etc.
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.
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.
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.
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.
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.
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.
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.
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.
Remote work and new talent hiring opportunities
– The widespread usage of remote working technologies during Covid-19 has opened opportunities for News Viewers to expand its talent hiring zone. According to McKinsey Global Institute, 20% of the high end workforce in fields such as finance, information technology, can continously work from remote local post Covid-19. This presents a really great opportunity for News Viewers to hire the very best people irrespective of their geographical location.
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 -
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.
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.
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.
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.
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) .
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.
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.
Technology disruption because of hacks, piracy etc
– The colonial pipeline illustrated, how vulnerable modern organization are to international hackers, miscreants, and disruptors. The cyber security interruption, data leaks, etc can seriously jeopardize the future growth of the organization.
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 .
High level of anxiety and lack of motivation
– the Great Resignation in United States is the sign of broader dissatisfaction among the workforce in United States. News Viewers needs to understand the core reasons impacting the Sales & Marketing industry. This will help it in building a better workplace.
Shortening product life cycle
– it is one of the major threat that News Viewers is facing in Sales & Marketing sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
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.
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.