Media Management and Telecommunications: Study Guide I.
AOL Time Warner (Case Study), strategy formulation
Branding
Broadcast advertising
national, spot, local
Broadcast Industry Structure
Advertisers
Independent television stations
Network affiliates
Program distributors
Public broadcasting
Television networks, major and minor
Broadcast Television Networks
Achieving profitability
Crossownership with cable, reasons for, value of
Network affiliate relationship, purpose of, how it works
Network clearance, principle of
Broadcast Program Strategies
Audience flow
Compatibility principle
Counter-programming
Habit formation
Seeding
Stunting
Broadcast Station Organization
Business
Engineering
News department
Programming
Sales
Common Carrier
Corporate Governance, role of
Corporate Growth Strategies
Diversification
Horizontal Integration
Vertical Integration
Demassification of Media and Entertainment, principle of
Elements of Market Structure
Seller Concentration
Monopoly
Oligopoly
Pure competition
Product Differentiation
Barriers to Entry
Absolute cost barriers
Established leaders
Scale economy barriers
Buyer Concentration
Demand Growth
Exchange Efficiencies
Fox Television (Case Study)
Media Organizations
Microeconomics
Micromarketing, principle of
Monopoly (and natural monopoly)
Pixar, (Case Study)
Reengineering, principle of
Sony Corporation (Case Study), external threats and competition
Strategic Planning:
1. Environmental scanning
Scanning the External Environment
1. Competitive factors
2. Political/Legal factors
3. Economic factors
4. Technological factors
5. Sociocultural factors
Scanning the Internal Environment
1. Core competency
2. Organizational decisionmaking
3. Organizational culture
4. Change in leadership
4. Management / labor Relations
5. Operational issues
2. Strategy Formulation
Competitive Business Strategy, Michael Porter
Lower cost strategy
Differentiation strategy
Focus (or narrow niche) strategy
Mergers and Acquisitions Strategy
Acquisitions
Mergers
Strategic Alliances
3. Strategy Implementation
Critical Elements:
1. Designing an action plan
2. Establishing a proper budget
3. Determining the right people needed to implement the
strategy (getting the right people on the bus and in the right seats).
4. Establishing policies and procedures
5. Change management, principles of
4. Strategy Evaluation and Control
Critical Elements:
1. Identifying the strategic objectives to be measured
2. Establishing key performance measures and standards
3. Measuring actual performance
4. Comparing actual performance against established standards
5. Taking corrective action when needed
Key performance measures
Reasons why strategy implementation sometimes fail
Supply and Pricing
A change in technology or method of production
The methods of product distribution
The availability of good substitutes
Syndication
Television and film studios
Made-for-television, first run
Negotiation, process of, getting it right
Off network
Business rationale for
Six Sigma, Principles of
SWOT Model
Time Management, principles of
Total Quality Management, Principles of
Walt Disney Corporation (Case Study), vertical integration
Why mergers and Acquisitions sometimes fail:
1. The lack of a compelling strategic rationale
2. Failure to perform due diligence
3. Failure in CEO accountability
4. Postmerger planning and integration failures
5. Financing and the problems of excessive debt
Reading:
Chapter’s 1-3
Video Presentations:
Ben Bernanke, Federal Reserve
John Dorsey, Twitter
Dan Rather on the future of television news
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