Strategic news industry review makes innovation a priority

A strategic innovation review is now vital for the newspaper industry to survive in the future. The newspaper industry was naive in its interpretation of the impact of information technology innovation on the Internet. The media pundits believed that established strategic innovation decisions would not be affected by the distribution of free news on the World Wide Web, but they have been proven wrong. The importance of new ideas is often difficult for big business to assess, because they are risk averse and find innovation management almost impossible to implement.

When a business idea starts to emerge, such as online news, commerce believed that it would have little impact and that their mainstream income through paper print would be unaffected. However, with more people turning to the convenience of the web, and the associated advertising revenue value set too low, the strategic innovation plan looks bleak.

Innovation case studies show that the impact of free news sites, such as the BBC, put a few organisations uniquely placed to exploit free news. Attempts by newspaper groups to introduce online subscriptions will be difficult for consumers to swallow when the information proliferates across the world.

This entry was posted on Tuesday, May 5th, 2009 at 10:49 am and is filed under strategic innovation. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.