Building on your analysis in part 1 you are to develop a strategic plan that can guide the organization to reach its future objectives. Start with the purpose of the organisation and a short summary...

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Building on your analysis in part 1 you are to develop a strategic plan that can guide the organization to reach its future objectives. Start with the purpose of the organisation and a short summary of the internal and external analysis and key challenges identified in part 1 of the strategy assignment; then write a strategic plan for the organization: What are its strategic challenges? How could these be addressed (multiple options!); What would you recommend and why? Strategic options can include an innovation plan, a strategy map, and/or any other business scenarios you deem appropriate. Conclude with your personal recommendations.the plan should have atleast 8 references in APA style.


Page | 11 STRATEGIC ANALYSIS Title of the essay: strategic analysis Name of Student: sukhchain kaur Student Number: a161455 Alphacrucis College: brisbane Subject Code: MAN311 Assignment: major essay part 1 Due date: 6-5-19 Submission date: 6-5-19 *Extension granted till: *(If no extension was requested or granted, please ignore this): Final word count: 1722 Plagiarism Quiz Score: Plagiarism Quiz Completed: I hereby declare that the following work in this assessment is my own, except where indicated through due referencing. This assessment has not, in full or part, been submitted for another class or course at AC or any other institution. Signed:sukhchain kaurDate: 6-5-19 Table of Contents Introduction3 External factors affecting the business3 Internal factors affecting the business5 SWOT analysis6 Conclusion8 References9-10 Appendix………………………………………………………………………………………………………………………………………………11 Introduction Journalism is a field that has played a very important role in the lives of people as well as on the building of nations. It is the newspapers and the news presented to the people through the newspapers that has been responsible for influencing people and helping them in making important decisions and that took active part in building nations. Media is the way which communicates the whole world. The media is so broad, so it is not easy to conclude this into just few words. The writer said so well that, “the use of media is to keep an eye on people in power on the behalf of people” (Stephen, D.Reese, 2001). However, it is important to mention the fact that since there are numerous newspapers around the world, every individual newspaper agency is facing a major competition from their competitors. The Sydney Morning Herald is one of the most popular newspapers that are read by readers from different parts of Australia and the world. It is discovered in 1831. Before this, it was known as ‘Sydney Gazette’. But later on in 1842 the actual name was given (V.Isaacs, 2003). Apart from this, to make sure that the business runs smoothly and outperforming the competitors, the company needs to identify and isolate the different causes that might be responsible for the hindrance of the business. The Sydney Morning Herald has increased its readership by a 2.4 percent in the last year and made it 7.64 million (Duke, 2019). The study involves identification of the different internal and external factors that might cause problems for the growth of the business. The study also involves identification of the different strengths and weaknesses that The Sydney Morning Herald enjoys or suffers while carrying out its business. External factors affecting the business For a business to succeed, it is important to consider the external factors into consideration. It is the external factors that would help to determine how the organization can take steps or devise contingency plans so that the business does not get affected by the external factors. Moreover, there is an analysis called ‘PESTLE’ which is helpful to consider the external environment factors. Generally, PESTLE stands for political, economical, social, technological, legal and environmental factors. These are the factors which affect the business and this analysis helps to check the surrounding for business or a project (Paul, 2014). Understanding the external factors that affect the business also helps to devise plans accordingly so that the company can operate with getting affected by the external factors in the minimal way (Lewis, 2007). Since the company has no hold over the external factors therefore it can be said that the company has the only option to operate with taking the factors into consideration and devise plans accordingly. The Morning Herald has always been known for its outspokenness and being a just newspaper. The newspaper has been responsible for exposing hundreds of illegal activities carried out in the country through its 150 years of operations. The newspaper has been known for being the powerful voice of Australia and affecting the public opinions on politics (Roy Morgan, 2019). The Australian people has always been considered to be highly educated and conscious of the world and informed of the things going around in the world. One of the primary reasons for this is because of their newspapers. The Sydney Morning Herald has played very significant role in making the Australian people so very conscious of the world. Another fact that has been hindering the growth of the company is they growth of social media. Due to the immense growth of social media and news being spread across the world through different social media platforms, people are relying less and less on traditional newspapers. Moreover, people can get the daily global news instantly with the press of a single button on their cellular phones, tablets or computers. As a result, it is affecting the newspaper agencies in a significant way. People neither have to pay separately for the news nor do they have to wait for the newspapers to arrive. People can get the news from different corners of the world within a couple of seconds after the incident happens. As a result the business of newspapers such as The Sydney Morning Herald is getting affected in a significant way (Ananthan, Appannaiah and Reddy, 2010).. It should also be mentioned that the reports presented by the company presents has been misinterpreted quite often. As a result, even lawsuits have been filed against the company. This has affected the reputation of the company through the years. Therefore, it is needless to mention that bad reputation can result in the less popularity of the newspaper and getting a bad review from the people. Internal factors affecting the business Another important aspect to make sure that the business is carried on smoothly is to identify the internal factors that affect the business (Muzumdar, 2013). The internal factors are the factors that within the business that affect the performance. Internal factors mostly get unnoticed and ignored which makes it the most dangerous issue for a business (SROKA, 2016). However, it must be kept in mind that internal factors are within the company. Therefore, they can be easily identified. With the identification of the internal issues it would be much easier to fix the problems, thereby making sure that the business performs properly (Sen, 2008). Moreover, since the internal problems lie within the company, therefore it can be said that it is within the power of the company’s administration to rectify the internal issues. In case The Sydney Morning Herald, it can be said that there have been quite a few internal factors that have been affecting the business. One of the significant issues that the company faces is the distribution of the newspaper. The company finds it really difficult to distribute the newspaper to the countries that are outside the Australian continent. That is because the island is isolated from the rest of the continents of the world. As a result, it becomes difficult for the company to distribute the newspaper to the different corners of the world. Sometimes the company faces significant criticisms due the way the news are presented to the audience. This has been due the company’s lack of research of the liking of the audience. At this point it is important to mention that the company needs to make sure that the audience likes the news that is presented to them. The way the news is presented to the readers should be liked by them or else the newspaper would fail. SWOT analysis When it comes to business, the SWOT analysis is an efficient and concise tool that helps to isolate the different factors that has acts in favor of and against the company. The SWOT analysis involves isolating the Strengths, Weaknesses, Opportunities and Strengths of a company. With the individual facts sorted out it becomes easier for the companies to strategize plans so that it can operate accordingly and plans for growth (Sen, 2008). For a company such as The Sydney Morning Herald it is important to do the SWOT analysis as it would help to understand the factors that need immediate and rapid action. Strengths- In case of The Sydney Morning Herald there is quite a few strengths. With a history of more than 150 years of operation the company can boast about its rich heritage and strong foundation (Paterson and Droogleever, 2000). One of the major strengths of The Sydney Morning Herald is the fact that its ‘Earth Hour’ segment has changed the concept of newspapers. It has successfully made newspapers into a responsible organization. Another strength that has been helping the growth of the newspaper is the strong distribution network within Sydney and across different parts of Australia. The strongest factor responsible for the growth of the newspaper is the high quality reporters who have been doing their tasks properly and sincerely through the years. The newspaper has also been covering all the major news from Australia as well as the other parts of the world. Adding more, they hire the staff those have excellent technological and mentoring skills. Weaknesses- Despite its strengths being significant, there have been quite a few weaknesses that need to mention (Ivashchenko and Bykova, 2018). The greatest weakness that the company faces is the limitation of expanding beyond the territories of Australia. Due to the limitation of resources, it is very difficult for the company to expand and sell outside the continent of Australia. Another weakness that the company suffers is the fact that being a reputed company, every minor mistakes made are criticized strongly. Opportunities- The Sydney Morning Herald can exploit quite a few opportunities and improve its business. One of the opportunities is that is the company merging with other companies and launching new media of distributing news. The newspaper can also introduce innovative features such as publishing through the internet that can grab more attention. They can organize the motivational programs for their employers which will be helpful to increase the confidence level of their employers (annual report of Sydney morning herald, 2018). Threats- The organization is under a constant threat of wrong interpretation and lawsuits due to the interpretations. As a result, the company is finding it really difficult to expand. Negative reviews from readers and competitors are also having impact on the reputation and popularity of the company. Popularity of social media is also a major threat for the company (Deuze,2011). It has been proved that when the internet just arrived, companies faced big loss and even some companies closed down their businesses. Conclusion To summarize it can be said that The Sydney Morning Herald has been a successful organization. Throughout its course it has been successful. However, it is important to mention the fact that the company is facing a couple of issues in the recent past. Both the positive and negative factors affecting the business of the newspaper has been pointed out in the report. The factors which affects the external environment is mentioned by PESTLE analysis. Moreover, the opportunities and threats are also mentioned in this report. The biggest threat is the social media but they can change this
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Answered Same DayMay 28, 2021

Answer To: Building on your analysis in part 1 you are to develop a strategic plan that can guide the...

Soumi answered on Jun 03 2021
153 Votes
Running Head: STRATEGIC PLAN FOR SYDNEY MORNING HERALD    1
STRATEGIC PLAN FOR SYDNEY MORNING HERALD    3
STRATEGIC PLAN FOR SYDNEY MORNING HERALD
Table of Contents
Introduction    3
Internal and external analysis    3
Key challenges identified    5
Strategic plan    5
Determination of strategies and weakness of the organisation using winning wheel framework    5
Key strategies need to be developed    6
Incremental or transformational change needed by the company    6
Resistance to change expected    6
Personal recommendation    6
References    7
Introduction
    The organisation selected for this assignment is Sydney Morning Herald. The vision of the organisation is to deliver the truth in the form of the news to entire world through their transparency in work. They wanted to reach every corner of the world and spread the stories of common people. Their mission is to provide the quality programming content and to build the strong network of audience for the newspaper. The organisation practice strong values in their organisation.
They have code of conduct, which was strong comply by their staff. These values include delivering of news by staff must include essential elements without distorting relevant facts. There must be honesty in interpreting the situation. Fairness and accuracy of the news reporting must not be affected by staff personal belief. Staff must make sure that the rights of the news reporting must not affect the right of the privacy of the individual (ABC News, 2019)
Internal and external analysis
Internal analysis
    There are many factors, which affect the business. As suggested by Bouazza, Ardjouman and Abada (2015), internal factor plays the important role in either promoting the business or acting as barrier for the business. In case of The Sydney Morning Herald, there are some internal factors, which are affecting business. The one of the main issues is the distribution of the newspaper. This organisation is struggling in distribution of newspaper outside the Australian continent. This island is isolated thus distribution outside the continent is very costly due to lack of connectivity. Organisation often faced criticism for their news delivery to the audience due to their lack of research about the sensitive level of the audience.
External analysis
    External factors are responsible for the increase in pressure on the business. As suggested by Zinovieva, Kuznetsova, Dorfman, Limarev and Limareva (2016), external factors cause the failure of the business if not handle with care. As per the case study of Sydney Morning Herald, since past 150 years, this newspaper had been successfully presenting the news and exposing the crime of the Australia. It has been known for influencing the voice and opinion of the people on politics.
This results in the increase in the regular political pressure to reduce the efficiency of the newspaper. Threats make by criminals on reporter developed the cloud of fear in organisation resulting in switching of job of the efficient reporters. Introduction of the social media has changed the face of every organisation. It influences all the businesses.
Sydney Morning Herald’s growth has been widely hindered due to the growth of social media. People instead of buying newspaper prefer reading information from social media and distribute it all over the world free of cost. The use of traditional newspaper has been completely affected. Since news is instantly reaching to people with a click of button, people don’t wait for morning newspaper to read the news. The business is badly hurt by social media. Another biggest issue is misinterpretation of the news, which led to the company to face lawsuits, which sometimes tarnish the reputation of the organisation.
Key challenges identified
    Newspaper in the world is facing crisis. As suggested by...
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