Strategic management in the media theory to practice

Strategic Management in the Media2... Preface to the second edition1 Introduction Structure of the book What is media management?. Defining the media industry Overview of subsequent chap

Strategic Management in the Media

2

Strategic Management in the Media

Theory to Practice

2nd Edition

Lucy Küng

4

London EC1Y 1SP

SAGE Publications Inc.

2455 Teller Road

Thousand Oaks, California 91320

SAGE Publications India Pvt Ltd

B 1/I 1 Mohan Cooperative Industrial Area

Mathura Road

New Delhi 110 044

SAGE Publications Asia-Pacific Pte Ltd

3 Church Street

#10-04 Samsung Hub

Singapore 049483

© Lucy Küng 2017 First edition published 2008

5

Second edition published 2017

Apart from any fair dealing for the purposes of research or private study, or

criticism or review, as permitted under the Copyright, Designs and Patents Act,

1988, this publication may be reproduced, stored or transmitted in any form, or by any means, only with the prior permission in writing of the publishers, or in the case of reprographic reproduction, in accordance with the terms of licences issued

by the Copyright Licensing Agency Enquiries concerning reproduction outside those terms should be sent to the publishers

Library of Congress Control Number: 2016936400

British Library Cataloguing in Publication data

A catalogue record for this book is available from the British Library

ISBN 978-1-4739-2949-4

ISBN 978-1-4739-2950-0 (pbk)

Editor: Mila Steele

Assistant editor: Delayna Spencer

Production editor: Imogen Roome

Marketing manager: Michael Ainsley

Cover design: Jen Crisp

Typeset by: C&M Digitals (P) Ltd, Chennai, India

Printed in the UK

6

7

Preface to the second edition

1 Introduction

Structure of the book

What is media management?

Defining the media industry

Overview of subsequent chapters

2 The Strategic Context

Permanent drumbeat of technological change

Scanning the strategic environment – PEST analysis

Value chain analysis as a tool for highlighting environmental change Value chains in the media

Disintermediation and unbundling

Fragmentation, extension and contraction

Non-linear chains

Changing business models

Strategic development of business models – the search for adjacencies Impact of the digital platforms – Apple, Facebook et al

Streamed media – rent don’t buy

Digital pure plays

Fragmentation of consumption

Acceleration of the hit model

Demassification and the emergence of the niche

Emergent strategic environments

3 Strategic Concepts for the Media Industries

Dimensions of the strategy construct

Rationalist approaches

Porter’s Five-Forces Model

Resource-based view (RBV)

Core competencies and dynamic capabilities

Is long-term strategic planning still possible?

Adaptive approaches

Interpretative approaches

Conclusions

4 Strategic Responses to Technological Change

Technological change and the media industry

Convergence and its causes

Newsroom convergence

Convergence at individual level – the digital editorial thinker

9

Software is eating the media

Technology and strategy

‘Organisational technology’

Technology transitions and dominant designs

Untangling types of technological change

Inertia and its causes

New business units as a solution to inertia and path to innovation Ambidexterity – combining exploration and exploitation

Bringing exploratory new businesses back ‘in-house’

Conclusions

5 Creativity and Innovation

The role of creativity in the media

Researching creativity

What is creativity in organisational contexts?

Creativity versus innovation

Where does creativity come from? The core components of creativity Designing a work environment to boost intrinsic motivation

Creativity in creative organisations

Creativity and the business model

Creativity in systems and strategy

Conclusions

6 Culture, Mindset and Strategy

Culture

What is culture?

Culture and creativity

Layers of culture

Dimensions of organisational culture

Building a pro-digital culture

Cognition

Cognition and strategic change

Cognitions and digital disruption

Cognition and innovation

Conclusions

7 Organisation Structure and Strategy

From ‘industrial age’ to ‘information age’ organisations

Evolution in broadcasting organisation structures

The rise of the format producers

Mergers, acquisitions and the rise of the conglomerates

Impact of the conglomerates

Integrate or separate?

Alliances

From alliances to networks

Networks in the media industry

10