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Strategic Analysis (Marketing) The New York Times Company is one of the largest and the most well respected media company in the world. Its greatest advantages are brand name, size and reputation. These are its strengths, and the company is constantly increasing them by developing technological capabilities and by controlling its own inputs. The company publishes The New York Times (which has 1. 1 million circulations), The International Herald Tribune, The Boston Globe and other daily newspapers.
It is the owner of nine network-affiliated television stations and two New York radio stations. The New York Times Company gained a good reputation for flexibility and innovations. It is constantly carrying out market surveillance and following modern tendencies. It has 35 Web sites, including NYTimes. com, Boston. com and About.
com. The New York Times Company is well known for its modern idea system. Its idea system helps the company to foresee its strengths and weaknesses. As a result it has based a strategy that is focused on several main points. First of all, the company is going to introduce innovative new products and services through media. The New York Times Company is constantly providing customers with good service and it is developing capabilities in technology.
Creating a vibrant long-term innovation capability helps the company understand customers changing preferences. The New York Times Company is going to increase its operational efficiency with their purpose to keep leading position both in print and online. The New York Times Company businesses are differentiated with broad focuses. The main points are technological innovation and superior customer service.
The companys business level can be classified as analyzing. It is because the company tries to protect its existing operations while looking for new opportunities. The new businesses use new opportunities and are innovative. So, they can be classified as prospectors; and the statement can be proven while examining each of the functions in the organization: Sales & Marketing, Finance & Accounting, Management, Research & Development, Production, and Information Systems.
It is known that The New York Times Company is a publisher of the world's most respected newspapers. The newspapers are circulated in the United States as well as worldwide. According to the results of the Audit Bureau of Circulations, The Times has the largest daily and Sunday circulation, selling 48 % of it in the 31 counties of New York City. Most of all, the Times has about 17. 3 million readers every month who use NYTimes.
com. Production and distribution facilities of the organization are in Edison, New Jersey, and College Point, New York. About 19 print sites are in the United States and one in Toronto, Canada. In 2006, The Times has decided to consolidate its New York metro area printing. The plant consolidation is planning to be finished in 2008. The New York Times Company has created long-term shareholder value.
It will give an opportunity for fund investors. The company has investments in Metro Boston and New England Sports Ventures, LLC as well as it has invested in Internet businesses: 14. 0 % in Indeed, 13. 3 % in Day Life, etc. Having examined financial data, it is evident that the organization is constantly moving ahead. Its revenue is $ 3. 4 billion USD, operating income - $ 1. 83 billion USD, and net income - $ 190 million USD. It is known that advertising is one of the key factors that influence success. Advertising depends on circulation and readership levels.
Nowadays, there are a lot of new media formats and sources different from traditional newspapers that can compete with the Times. They are often free to users. Most of all, advertising revenues depends on seasonal variations. It is higher in the second and fourth quarters and lower in the first and third fiscal quarters. But in spite of it, The Times has 49. 6 % market share advertising revenue. According to TNS Media Intelligence, advertising sales volume and estimates advertising revenue are still rather high comparing with other national newspapers.
It goes without saying that one of the main factors determining future success of a strategy is a human factor. Good management and qualified staff help The New York Times Company introduce its main principles. In 2006, the organization had approximately 11, 585 full-time equivalent employees. The Times Company is known for its highest standards of journalism and ethical business conduct.
The professionals create, collect and distribute high-quality news, information and entertainment. It is the basis for good reputation. The Times Company is considered to be one of the companies that give content of the highest quality and integrity. Thats why it fulfils the public trust. Management system of the company is based on respect, accountability, fair treatment of employees and standards of excellence; and creates good corporate cooperation. It should be pointed that an effective strategy should fit well both with the external environment and with an organizations resources and core competencies.
The company has a strong policy while setting goals, reacting to change and fulfilling its obligations. But it remains true to its ideals in a world of constant change. The company support a lot of cultural, educational, community service, journalistic and environmental organizations. The New York Times Company takes an active part in social life. Its newspapers, radio, TV stations and Web sites cover the news events and social issues that have place in America and abroad. The Times has a 155 -year history and is known for its quality journalism.
Social responsibility has always been at the root of the organization. The Times has provided news on government, business and all other institutions that have power in society. It is known from the history that The Times took part in the discussion of a number of issues related to the First Amendment. It has always responded to world events immediately. The company works closely with dedicated organizations and individuals who want to enrich and even transform the lives of Americans. It commits to philanthropy and supports different communities.
Since 1912, The New York Times Company has created Neediest Cases Fund. It has the pages in The New York Times to collect money for individuals and families who are in bad and desperate conditions. Nowadays, the Fund has collected about $ 7 million. The sum has been used to improve social, economic and health conditions for thousands cope. Environmental protection is one of the main current initiatives provided by the New York Times Company. It includes recycling newsprint used in newspapers; recycling waste paper, etc.
Working with the Northeast Recycling Council, the company takes part in propagation of using recycled fibber. The newsprint suppliers of the organization should use virgin fibber and its major suppliers plants about 60 million saplings annually. The New York Times Company supports domestic organizations. It gives grants (about $ 5 million) for those domestic organizations that are the best in journalism, education, culture, environment and service.
Most of all, it sponsors the best New York City high school students and gives them an opportunity to get four-year college scholarship, mentoring and summer employment. But The New York Times Company is not without weaknesses. First of all, it has weak tendency towards reducing both fixed and variable costs. Than, it holds too many non core businesses that underperformed. Though the company is well developed and has good human resources and technological competences, it has some difficulties with staffing, especially, staffing for its new businesses. Most of all, the company has weak policy of professional growth.
With the purpose to lower its expenses, it reduces staff and employee benefits. The next weakness is that the company should rebalance its portfolio of properties with the purpose to allocate capital for the benefit of its shareholders. But in spite of all weaknesses analysts say that most of the problems are manageable and cannot be a real danger for the companys fundamental strengths. There are three main threats that the company may meet: increasing market saturation, consumer confidence and flexibility. If, for example, there will be some problems with sales or the United States will face difficult economic conditions The New York Times Company would have serious trouble. And it is not clear weather its advantages are sustainable.
Additionally, The New York Times Company might not be sufficiently flexible to change strategic direction if the environment change is in unexpected ways. It is evident that the company faces formidable competition with free and paid newspapers, magazines, Web sites, television and radio, other forms of media, direct marketing and the Yellow Pages. There is no confidence that The Times strategy will be able to recover quickly if things change. The New York Times Company has established its success on excellent reputations for quality journalism and content.
There is a risk that it could be damaged by incidents that undermine consumer trust. From one side the risk is linked with the protection of intellectual property rights. The New York Times Company business relies upon it. If the company loses property protection, it may lose valuable assets. From the other side the situation is more difficult because more than 40 % of the companys full-time work force is unionized. Thats why the company has to negotiate terms and conditions with many of employees collectively.
Such kind of labour negotiations could diminish the efficiency of the organizations operations. But in general, The Times corporate level strategy will be effective in future, because the company demonstrates consistency at corporate level. Its new businesses are logically linked to its long term goal. In the context of The Times long term goals new businesses help to customize and deliver quickly. The relationship between the company and customers is both horizontally and vertically integrated. Thats why it is the most effective.
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Research essay sample on One Of The Main York Times
