Within this unit, we discussed how businesses may need to adapt to changing time

Question

Within this unit, we discussed how businesses may need to adapt to changing times in order to stay competitive. Their initial practices may have worked well previously, but may not serve them well in the long term. The newspaper industry is one that may face extinction. Explain why they may need to rethink their business strategy, and provide some advice on possible strategic management changes. Be specific to include goals/objects, strengths, and weaknesses. Your response should be at least 200 words in length.

Explanation / Answer

Change is inevitable and an unpredictable substance in every business. News paper industry is a very vibrant field where news are not just elements but bread and butter for the whole organisation. There has been a revolutionary change in newspaper industry during last two decades. The industry has change from realistic perspective to a mix of realism and commercialism aspects. Fabricated news, sponsored news and supportive news all has become a business drive elements for the industry. At the same time concern towards society and sensational or investigated journalism has their own unique position in the industry. Maturity level of industry has changed the situations a lot now a days many government has started monitoring the news through news paper and they are documenting things out of this. I ta has become a point of reference fro many investigations and further actions. Truth is sometimes bitter than fiction and the same formula is applicable here as well. The industry has to change according o the trends and movement of market. Commercial news have their own significances in the industry to survive in the market. Revenue generation through advertisement is very much important. To attract readers new editorials with catchy captions an contents, entertainments, informative news and innovative articles etc are required. Presentation of news and coverage has changed a lot in last two decades as advanced technologies like QR code for video watching etc has been enabled in many news paper.

News paper is also a technology focused industry and as it requires to incorporate many things under one section. It requires the idea to convert the reality to words, ability to convey the right message, ability to influence the mass audience in limited space It ca only be driven through ideas incorporated with technology.

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