Primary external organizational considerations

Running head: INTERNAL AND EXTERNAL ENVIRONMENTAL ANALYSIS 1

INTERNAL AND EXTERNAL ENVIRONMENTAL ANALYSIS 2

Internal and External Environmental Analysis

Identify economic, legal, and regulatory forces and trends

Hossier Media Inc. has been in the media industry and is facing a downward performance as an aftermath of the effects of various forces that affect its business operations. Considering the economic trends, consumers of news have become overly internet-oriented to the extent that they are able to access most of their news online. Hence, the company is tasked with a burden to improve their economic performance through making more internet based investments such as on the development of apps to leverage the use and distribution of media news resources. The concentration of the mass media has increased significantly as a result of the increasing costs hence companies have gone to the extent of establishing mergers within aim of increasing the diversity if option and make the approach used in the delivery of services more diverse in opinion. The current regulatory framework in the United States enforced under the 1934 Federal Communications Act has largely undermined the operation and performance of the industry (Turow, 2017).

Critique how well the organization adapts to change

The fact that internet accounts to only 5% of the company’s revenues is much telling when it comes to the competitive approaches used by the organization as well as its adaptability to change. The globalization effects facilitated by the internet have made the world more of a global village where news from different parts of the world can be accessed and consumed with a touch of a button. This is where Hoosier Media Inc. misses the point when it comes to its adaptability to change. It follows that the firm needs to consider investing more on its internet revenue sources with the interest of enhancing revenues and optimizing on sales based on the applicable resources (Zotto, 2017).

Discuss the primary internal organizational considerations

There are a number of internal organizational considerations that the organization needs to reconsider for the interest or remedying the issues affecting its performance. One of them has to do with the employees. The employees are a critical asset of the company that shapes its performance and progress. The fact that the company is facing significant challenges in leveraging its internet sources means that there exists a knowledge gap among the employees that need to be closed. Another area that needs to be reconsidered include that has to do with the technology equipment used by the company. The consumers are interested in quality and timely news and hence the company should be keen to acquire the required technology to enable it to leverage its internet resources(Havens, 2017).

Discuss the primary external organization considerations

The primary external consideration is technology and competitors. Technology has become an inevitable component of business success. Hoosier Media Inc. must be keen to fast track the latest technology and integrate it into its business operations. Technology is a critical aspect that will enable the company become more successful in its outreach and coverage in terms of the customer base. Secondly, the organization must make extensive research on the products and service offered by the competitors and find out how they can provide superior products and services in order to attract new customers and retain the existing ones (Zotto, 2017).

Identify the major issues and/or opportunities the company faces based on your analysis

The biggest issues faced by the company include research and innovation. The fact that only 5% of the revenues come from internet sources is a clear indication that the company has expressed laxity in doing proper research to establish the market trends and respond to them appropriately. Research forms the basis for innovation. Building a proper strategy for revenue growth necessitates challenging the current constructs and eventually bolstering creativity (Havens, 2017). The revenues from advertising have faced a significant threat from the shifting consumer behaviors to the one-off content purchases and subscription. The growth in digital advertising presents a unique opportunity that the company can utilize. The fact that the company is also a big brand in the industry presents an opportunity of building scale correlated with consumer understanding and creativity.

References

Havens, T. (2017). Understanding media industries. New York: Oxford University Press.

Turow, J. (2017). Media today: Mass communication in a converging world. London: Routledge, Taylor and Francis Grou.

Zotto, C. D. (2017). Management and innovation in the media industry. Cheltenham, UK: Edward Elgar.