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Decision Analysis for Management Judgment

Год выпуска: 2010
Автор: Paul Goodwin and George Wright

Synopses & Reviews

Publisher Comments

Media is an exciting and innovative industry. In its effort to combine business and creativity, the industry has traditionally been faced with unique opportunities, and also challenges, increased by the short-lived nature of its products and services. The media industry is currently being reshaped by the sudden rise of digital technologies and web applications. As such, this second edition of Managing Media Companies has been completely revised with brand new content to reflect those latest developments with clear emphasis on digital transformation.

The authors have made an in depth study of the strategies and management practices of leading media companies and have identified the core competences these companies need to have to win in the new world. This book is strongly focused on applicability and combines long standing best practice principles with innovative approaches for staying ahead. It systematically discusses competences needed in each of the key functional areas in media companies drawing on examples from all main media sectors.

An essential text for students of media management and professionals in the field, this book includes the following key features:

  • A discussion of the key challenges faced by media executives taking daily managerial and strategic decisions in an industry undergoing enormous change.
  • In-depth discussions of the current and new skills media companies will need.
  • Insights into best practices from traditional and new media companies as well as from pioneers of media and telecommunications convergence.
  • Brand new and fully updated case studies from a wide range of global media companies, which include Axel Springer, Hubert Burda Media, Gruppo Mediaset, Endemol, OhmyNews, Canal+, Telenet, EMI, The RTL Group, Schibsted, Lagardre, LGIs Chellomedia, Sanoma, Second Life, Googles YouTube and the BBC.

Synopsis

In an increasingly complex world, decision analysis has a major role to play in helping decision-makers to gain insights into the problems they face. Decision Analysis for Management Judgment is unique in its breadth of coverage of decision analysis methods. It covers both the psychological problems that are associated with unaided managerial decision making and thedecision analysis methods designed to overcome them. It is presented and explained in a clear, straightforward manner without using mathematical notation.

The fourth edition has been fully revised and updated and includes a number of changes to reflect the latest developments in the field.

Synopsis

The authors of this book have made an in depth study of the strategies and management practices of leading media companies and have identified the core competences media companies need to have to win in the new world. The book is strongly focused on applicability and combines long standing best practice principles with innovative approaches for staying ahead. It systematically discusses competences needed in each of the key functional areas in the media companies drawing on examples from all main media sectors.

About the Author

Paul Goodwin is Professor of Management Science at the School of Management, University of Bath. His research interests focus on the role of management judgment in forecasting and decision-making and he has published in key journals in the field. He is an Associate Editor of the International Journal of Forecasting and a member of the editorial board of the Journal of Behavioural Decision Making.

George Wright is Professor of Management at the Business School, Durham University. He is the founding Editor of the Journal of Behavioral Decision Making and an Associate Editor of two forecasting journals: International Journal of Forecasting and the Journal of Forecasting. He is also an Associate Editor of Decision Support Systems and a member of the editorial board of Journal of Multi-Criteria Decision Analysis.


Table of Contents

ADVISORY BOARD.

ABOUT THE AUTHORS.

PREFACE.

ACKNOWLEDGEMENTS.

CHAPTER 1: Introduction.

Media: One or Many Industries?

Current State of the Industry.

Focus and Scope of the Book.

CHAPTER 2: Rebalancing the Media Value Chain.

Current Practices Mostly Historically Grown.

Fundamental Changes Still Ahead.

Consequences for the Management of Media Companies.

Is a Fundamental Rethink of Future Business Models Needed?

Key Takeaways.

Case Study: The Welt Group: Creating New Business Models For News Provision.

Case Study: Hubert Burda Media: In Search of New Digital Business Models.

Case Study: Mediaset: From Focused Broadcaster to Value Chain Operator.

CHAPTER 3: Creating and Leveraging Innovative Content.

Future Role of (Blockbuster) Content.

Should Content be Redefined?

Management of the Content Generation Process.

Peer Production, User-generated Content and Co-creation.

Key Takeaways.

Case Study: Endemol: Diversifying the Content Portfolio.

Case Study: OhmyNews: Creating a Sustainable Model for Content Co-creation.

CHAPTER 4: The Fight for Customer Attention: Intelligent Mass Marketing and Cautious Niche Strategy.

The Increasing Need to Understand Customers.

Strategic Brand Management.

Fine-Tune the Marketing Strategy to Revenue Model.

Marketing Strategies for Subscription-based Players.

Marketing Strategy for Niche and Thematic Offerings.

Key Takeaways.

Case Study: Canal+: Keeping Consumer Loyality in the Face of Platform

Competition.

Case Study: EMI: Developing New Marketing Models for the Digital Age.

Case Study: Telenet: Leveraging Digital Segmentation.

CHAPTER 5: End-to-end Supply Chain Management.

Achieving Operational Excellence in Supply Chain Management.

Enhancing the Effectiveness of Standardized Media Supply Chain Processes.

Improvement Levers for Non-standardized Processes in the Media Industry.

Managing the Transition to Digital Platforms.

Key Takeaways.

Case Study: RTL Group: Creating a Digital Value Chain.

CHAPTER 6: Ways Out of the Advertising Commodity Trap.

Traditional Advertising Under Increasing Pressure.

The First Wave of Advertising Spending Shift: Direct Marketing and Below the Line.

Digital Technology at the Core of the Second Wave.

Reaching New Capabilities in Advertising.

Key Takeaways.

Case Study: Schibsted: Diversifying the Advertising Source.

CHAPTER 7: Corporate Strategy in Media.

Current Media Landscape.

Future Portfolio Logic.

Key Takeaways.

Case Study: Liberty Global: Multichannel Portfolio Play.

Case Study: Lagardere Active: Restoring Growth Through Operations.

Case Study: Sanoma Group: Restructuring the Portfolio for Growth.

CHAPTER 8: The Future Role of Online Media.

Online Start 1995--2001: 'Overestimate in the Short Term'.

Period of Consolidation 2002 to 2008: Building the Digital Platform.

Online Media Business Models.

Key Takeaways.

Case Study: Second Life: Peer Production Through Co-creation.

Case Study: YouTube: Building Social Media.

CHAPTER 9: People Management in Media Companies: Creative Managers or Managed Creativity?

Current People Management Practices in the Media Industry.

Current Challenge:Embrace 'Creators' Yet Do Not Understate 'Transformers'.

Common Principles of People Management Processes for 'Creators' and

'Transformers'.

Management of 'Transformers'.

Management of 'Creatives'.

People Management in the Digital Media Era.

Outlook and Open Questions.

Key Takeaways.

Case Study: BBC: Adapting the Organization to the Digital World.

INDEX.



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