In today’s world, technology and information are moving faster than ever in the history of mankind. An event in India is known to the world in minutes, sometimes through social media, sometimes through traditional news channels, and sometimes through smartphones. Within this high-speed world, business must react swiftly to the changes around it, while also maintaining an introspective and intelligent outlook.
The media industry is not only a driver of this changing world but also a receiver of change. Consider the newspaper industry, which is struggling to remain relevant against the onslaught of other communication channels. The industry competes in a 24/7 news cycle to reach its customer base, an impossible challenge given its dependence on fixed printing presses, trucks, planes, and youthful entrepreneurs.
And yet some newspapers are thriving. The Wall Street Journal
, like other newspapers and magazines, offers its publication online or in print. The newspaper defied common wisdom and chose to charge customers for its online version as it did for its print version. Currently, the Wall Street Journal
maintains its subscription base, its financial stability, and reaches further into the everyday life of its customers through subscriber e-mails.
How did the Wall Street Journal
make the decision to charge for its online paper while so many others opened the content of their publications to the public free of charge? The answer is its use of strategic planning tools.
Do you want to understand the discipline of strategic planning and add significant value to the company and clients you serve? In the Accenture Academy course Applying the Tools of Strategic Planning
, you will explore the common tools and techniques of strategic planning, including SWOT analysis, PEST analysis, trend analysis, financial business modeling, and scenario planning. Using the tools of strategic planning, you will determine how to become an active participant in the right decision making, which is supported by sound information and discipline.