New York Times Case Synopsis

New York Times Case

Case Synopsis

The case commences with the mentioning of the internal crises to which the New York Times has been subjected throughout its existence, and continues by arguing that challenges to organizational success were not only emerged from within the company's internal environment, but also from the external environment. Some issues which raised challenges include the changing political climate, the rapid advancements within the field of technology, the changing features of the competition or the changing structures of the media industry.

The case also focuses on the New York Times as a valuable social component, but also in its quality of family business. It details several aspects of the media industry, such as the changes which have occurred in structure, or the strategies which have been implemented by the players to maintain and improve their competitive levels. Of interesting note are the elements of Times' strategy, such as the expansion into various markets or its commitment to its long-term plan of quality journalism.

2. Case Analysis

2.1. Times' Product Markets

A product market is generically defined as "a broad group of products that satisfy a general, yet similar, need" (Cravens and Piercy). For Times, the product market was constituted by a series of journalism products, such as printed newspapers, articles within the online community or television programs. In the creation and sale of all its products, the company has maintained its integrity and its commitment to high quality journalism, even if this has at times brought them hardship.

2.2. Matching of Customer Value Requirements with Company Capabilities

The company has consistently fought to implement strategies which satisfied the customers. It has strived to make its product available on various media channels or it has fought to improve the quality of the journalism with which it presented the audience. Yet, in some cases, this commitment to high quality -- materialized for instance in the pouring of money into graphic designs and story verification -- has delayed in retrieving the desired results. In turn, the impact was that of registration of high costs, which has dissatisfied the Times shareholders.

Overall, the company has strived to satisfy the customer and has recognized that customer satisfaction is the key to organizational success. Yet, in achieving the desired levels of customer satisfaction, the managerial team has remained true to its initial plan and focus on high quality journalism and expansion of its reach.

2.3. The Competitive Arena

The changes which have impacted the media throughout the past decade have also taken a tool on the features of the competition within the media. In a more specific formulation, the competition from substitute products has significantly increased due to the advent of the internet and the propagation of television. These additional pressures led to a structural change in the printed media field. Orville Schell, dean of the journalism school at the University of California explains: "the Roman Empire that was media is breaking up, and we are entering an almost feudal period where there will be many more centers of power and influence. […] it's a kind of disaggregation of the molecular structure of the media" (Cravens and Piercy). Part of this restructuring strategy has been constituted by the mergers which occurred between various media firms (part of this strategy, the New York Times acquired the Herald Tribune).

2.4. Strategies to Counter the Changes in the Media World

The organization has early on recognized the changing features of the industry in which it operated and has strived to adapt to these changes in order to remain competitive. A most relevant example in this sense has been constituted by the early on adaptation to technological changes. During the early 1990s decade, the company has created its own website and has commenced to reach its customers through the new online media tool.

Aside its quick and efficient adaptation to emergent market and industry features and requirements, the New York Times has also maintained and improved its competitive levels by emphasizing on quality media -- in other words on high reliability of the information presented; the company suffered tremendously when it was revealed that some articles it printed had been fabricated.

Finally, a third set of actions implemented to ensure survival in the industry has been that of following the initial plan with determination and consistency. Several small and large size organizations fail to retrieve successful outcomes as they continually change their business model and focus. The New York Times has maintained its business model and this has brought them success. "But he and new CEO Janet L. Robinson […] are sticking with the long-term plan set nearly a decade ago: enhancing the content of the Times and extending its reach into virgin territories west of the Hudson while also building its multimedia capacity" (Cravens and Piercy).

3. Times' Evolution since 2005

Throughout the years following Cravens and Piercy's case study, the New York Times has continued its evolution. It has followed its dedicated model of high quality journalism. "The Company's core purpose is to enhance society by creating, collecting and distributing high-quality news, information and entertainment" (the New York Times Website, 2010). New elements which characterize New York Times' existence throughout the past five years include:

The emphasis on internal restructuring to increase efficiency and employee on the job satisfaction

The registration of increasing revenues which transformed it into a leader of the media industry