Adapting to the Digital Revolution Analysis Assignment Sample

Subject Name : Management

Wertheim Problem Solving Model

Step 1: Comprehend the Case Situation: Data Collection, Identify Relevant Facts

The New York time has been exploring different business models to take their news on the online platform however the profits and the sales from the online advertising failed in coring up the loose in print advertising
The newspaper industry in the US has been on the decline due to competitive online media: it been competing in better percentage of readership and advertisement
The print media has already diversified itself in the online platform; they continued to face severe competition from the online source of media and news. Examples of these competitors are: Daily Beast, Huffington Post, and BuzzFeed. There are online news channels such as ABC news, Fox news etc
Advertising revenues were majorly constrained by Facebook and Google and popular mobile companies such as Google and Apple which resulted in reduced readership of print newspaper.
The shift of print media to online media resulted in readership decline for the NewYork times

Step 2: Defining the Problem

The print newspaper has been on the decline in US since the popularization of online news sources, now news can be read on line eliminating the need of print newspaper.
The NewYork time had been facing steep decreased in the revenues and the company was going under major losses
The future of the company had been under threats. .
According to Henry Blodget from the Business Insider: the company will decline further in the area of news readership and revenue Eric
According to Jackson of Ironfire: seeing the decreasing advertising revenue and increasing pension cost and operating costs, it would be difficult for the company to operate as a standalone business (NYT, 2009).

Step 3: Causes

The decline in the revenues of the NYT continued since 2005 and peaked at $3.4 billion.

There were many causes for this, such as: reduced sales of print newspapers and collapsing of advertising revenue were the major ones. The company moved to a single printing plant, closed all the loss making business, outsourced many functions, and jobs were eliminated to cover-up the looses the company was suffering from (niemanlab, 2018).

Step 4: Generating Alternative Solutions

Look for ways to grow the audience: one such way is by campaigning, using second street engagement technologies to spread promotional messages, innovative content and email

Charging to access premium content: readers once comfortable with a new company do not hesitate to pay for the content. This created high revenues for the companies

Philanthropy: donating to social cause increase the popularization of any company, supporting a social cause not just by donating money but also by promoting the cause.

Step 5: Decision

The company focuses itself on delivering high quality of journalism and does not restrict itself to just prints
The NYT launched their own website in 1996, where they focused on converting their news from the print medium to the online display.
In May 2014, a report titled Innovation was released by The NYT: which was an analysis of the companied weaknesses and an attempt which was focused on delivering high standard journalism to its readers (nytco, 2018).

The challenges were:

creating a digital newsroom
Delivery its journalism to the readers as very less readers were accessing their sites
Exploiting the stories in their archive which can be resurfaced and reused:
Personalizing the news: delivering those stories that the reader is interested in.
User-generated content.

Step 6: Taking Action and Following UP

Under Dean Baquet, the newsroom leadership was rearranged around deputy editors.
Focus was being put in promoting and bringing in talent that increase the efficiency of the company especially as mobile sites. Integrating technology and journalism was an important effort. The company's management in 2015 released a public document titled our path forward: which listed the challenges and the progress followed by the company to move forward18
The company took initiatives to doubling the revenues collected from digital form in next five year to $800 million, and doubling its readership
A no of digital initiatives were taken to fulfill this : new app products were launched , NYT Now for the younger readers, NYT Cooking which was a very successful app additional apps were then launched regarding health, fitness , real estate, Emailed newsletters etc (Wired, 2018).

References for Wertheim Problem Solving Model

New York Times Company, Inc. (2009). annual meeting of stockholders.

nytco.com. (2018). Our path forward. Retrieved from : https:l/www.nytco.com/wp-content!uploads/Our-Path-Fmward.pdf.

niemanlab. (2018). The leaked New York times innovation report. Retrieved from: http://www.niemanlab.org/2014/05/tlie-leaked-new-york-times-innovation-report-is-one-of-the-key-documentsof-this-media-age/.

Wired. (2018). Retrieved from:https://www.wired.com/2017702/new-york-times-digital-journalism/.

Peck, G. (2017). 10 problems 10 solutions. Retrieved from: https://www.editorandpublisher.com/feature/10-problems-10-solutions-newspapers-share-how-they-overcame-some-of-their-toughest-challenges/

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