International Strategic Management Essay

4496 words - 18 pages

Introduction"For better or for worse, our company (News Corp) is a reflection of my thinking, my character, my values." -- Rupert Murdoch. That is exactly the philosophy of Rupert Murdoch - the owner and the chief executive of The News Corporation. However as a strategic management consultant contracted by News Corporation I will provide advice on the process of strategic formulation. I will apply the steps required for formulating the company's strategy according to the framework proposed by Johnson and Scoles(1999).Strategic AnalysisStrategic Analysis is concerned with the understanding the strategic position of the organization in terms of its external environment , internal resources and competences, and the expectations and influence of stakeholders defined by Johnson and Scoles(1999).The environment.According to Rupert Murdoch News Corporation are blessed with many things: dedicated employees; a consistent vision; compelling products and services; loyal customers throughout the world; and boundless opportunity as the global thirst for entertainment and news explodes. It is true there are all kinds of opportunities for News Corporation. However in the unstable world environment we probably will experience economic downturn for a period of time. I would say that there are risk and threats in every aspect.The news media is very sensitive to most countries in the world. It is even worse in this moment when America is attacking Afghanistan. The economy is suffering a downturn as a whole. Technology is growing very fast.The cross-border globalization of communication still remains a difficult issue for news companies. Local government plays n very important role in the industry. Country like China they control news media tightly and there are heaps of regulations and restriction in the country. Never before has this industry seen such turmoil both in terms of changes in technology and challenges posed us and our competitors by regulatory authorities around the world. Global competition is becoming more and more intense. There are high development costs for news companies.The industry is in a mature stage of PLC. News companies are fighting hard to maintain market share. It is time to emphasis efficiency and low cost.As for the five forces, it is difficult for new entrants to come. However the buyers have stronger bargaining power as they have more choice and better knowledge about the industry. There are no specific substitutes for News Coporation as they cover almost all aspects of news media. The competitive rivalry is very strong in the news industry.The News Corporation has a vast range of products like* filmed entertainment;* television;* cable network programming;* magazines and inserts;* newspapers; and* book publishing.The principal activities of associated entities include:* satellite, television and cable broadcasting;* newspaper publishing; and* print and electronic television guidance applications.It covers all over the world and...

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