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MSc Management
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Table of Contents
1. Introduction ......................................................................................................................... 3
7. Conclusion ........................................................................................................................ 10
8. References ......................................................................................................................... 11
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1. Introduction
Various media businesses' fortunes have declined vertically during the last ten years. This drop
has been attributed to the loss of income channels, low sales, and competition from free content.
Most affected media firms have long operated inside the confines of traditional brick and store
structures, relying on daily sales, advertising space sales, and native advertising.
On the other hand, the growth of communication technology has disturbed the primary functions
of media companies. Globally, big media companies are being compelled to incorporate evolving
technology trends or exit the industry entirely.
As a result of the fast-changing, competitive media marketplaces, leaders who can successfully
pilot organizational activities while supporting digital disruption are required.
Leading through digital disruption necessitates a clear and consistent concept, well-defined
frameworks, and scalable business models. A clear digital roadmap is also essential since it is the
foundation for clear digital initiatives.
Organizations that have successfully encountered positive digital disruptions have proved their
comprehension, assessment, and market presence. This is a crucial point to consider because each
organization must recognize its strengths, which include developing superior and dependable
business engagement that takes into account all of its organizational strategy and its science and
technology paths, business integration, and content development.
Media companies must integrate evolving technical infrastructure and embrace their digital
economy to flourish and drive through digital upheavals. The transformation in how information
is conveyed is critical in building sustainable models for firms to stay afloat. Technological
disruptions have evolved to the point that they are now the primary source of income for many
organizations.
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The transformation in how media material was consumed and the growth of Video content,
LinkedIn, Instagram, Wikipedia, and other social platforms significantly disrupted and impacted
its operations and profits.
Due to technological disruption in the publishing industry, the New York Times began on a digital
transformation path. As a result of the influence, the organization adopted e-papers and launched
a digital program in which consumers may subscribe to information online for a fee or for free. As
a publication organization, physical newspaper revenues declined dramatically, and marketers
shifted to other thriving digital content providers.
The organization is gradually establishing an internet presence through its website and Apps. This
transition is causing the firm to strategically reach a larger audience, solve income generation gaps,
and eliminate inefficiency, as with physical newspaper manufacturing.
However, the dominance of social platforms such as Twitter, Instagram, LinkedIn, WhatsApp,
Telegram, Google, Quora, and Facebook, which can be reached through multiple search engines
such as Bing and Google, is challenging the media sector (Bughin, 2017).
One key concern is the integrity of internet material, as well as the issue of false news. In essence,
false news has been identified as a motivating element powered by disruptive technology harming
the media business.
The fundamental goal of the New York Times is to deliver media material correctly and
transparently by utilizing technology. The extent of digital transformation inside its economic
modification is to combat false news and be a pioneer in reputable digital journalism.
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commercial information about rivals, including economic indicators and the structures partners
use in the market.
Such technologies are crucial because the media relies heavily on reporting, and being able to
provide trustworthy real-time reporting while staying ahead of the competition is critical to being
competitive.
This type of transformation can only be accomplished via clear digital strategies concerning the
organizational structure to be used, such as a clear focus on subscribers rather than advertising
dollars, appropriate investment in critical areas, substantial but also dependable leadership support
for the active network priorities, and the revamping of the company's business protocols. The
recognized innovations can be fruitful when expenditures on staff and talents are established within
the exact boundaries.
Situational analysis is an essential component of effective company management. To make better
judgments, the company should include Big Data in the emphasis of its decision-making
techniques. It is now simpler to make quick and correct judgments thanks to technological
advancements.
The organization will get a fair competitive advantage from the integration of situational analysis
and technology (Puglisi, 2011). In addition, taking into account other companies such as Google,
and Instagram, it would be in a position to embrace the breadth of technical viewpoints in order to
fast adapt to changes in its marketplace.
As is apparent, digital disruptions have impacted how companies are conducted internationally
today. Therefore, the importance of incorporating business information into corporate decisions
cannot be overstated.
Using methodical, reasonable structures would be the greatest answer for the New York Times. As
a result, situational analysis is critical in determining and categorizing the decision- making
remedies needed to develop the necessary duties associated with technological improvement for
the company's goods. The third method uses the dynamism of data-driven decisions, which assist
in leveraging technology, boosting business image, and generating memberships (Tsakalidis,
Gkoumas, and Pekár, 2020)
Academic values have been utilized for decades to assess and scout for the top abilities. Yet, with
the new beginning and the growth of digital technology, the quest for talent will become
increasingly important.
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In opinion, those who have honed their digital abilities or have personalities in the same field are
the most outstanding candidates. In addition, applicants that are self-trained and have unstructured
skills are more likely to deliver, adaptable, and driven to succeed.
Unlike formal recruiting, the scope of gaining and engaging talents should be founded on the
principles of company sustainability, operational consistency, creativity, and technical dominance.
It could be advantageous for the New York Times to hire and retain exceptional personnel who
might advance the firm to high percentage and technology altitudes.
Setting competitive corporate cultures would encourage and attract the right talents, that is, persons
who are authorities in their subject areas within the digital environment.
Engaging, dynamic skills would necessitate the company to define what advantages a person
would receive and what they anticipate from the individuals (Stonehouse, and Konina, 2020).
In this manner, talent pooling should be established to facilitate the acquisition of skills and to
reduce the costs of recruiting and retraining workers. To maintain the top talent, the true talent
should be polished and connected with the organization's goals.
Some of the abilities to consider and learn are team growth, analytical thinking, operational and
tactical creativity, organizational leadership, and negotiating skills.
Figure 1 Digital Business Model by the Global Center for Digital Business Transformation, 2018
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it necessitates a complex transition. As a result, in order to establish a digitally ready culture, the
business must modify its traditional working environment, integrate technology, and foster
digitalization recognition among workers, consumers, and customers.
The spread of digital culture should indeed be done with natural interests apart from the region of
businesses' profit pathways. Compare Amazon, which has constructed a digital culture but is less
known and revered; they have developed complex relationships with a wide range of authors,
booksellers, customers, songwriters, and employees. Also, Uber, which is recognized for its ability
to pioneer products with agility, has acquired a terrible image as a result of inadequate digital
culture management. However, many observers are outraged by the way Uber has been ignoring
regulations, manipulating and harassing workers, and, in some cases, failing to protect its
employees and consumers from abuse in a number of well involved in breaking (Kalven, 2020).
The organizational values must represent social factors that are compatible with corporate
objectives. It is appropriate to analyze the breadth of autonomy, openness, pace, and influence of
a defined information society.
In each element, the business must consider the numerous loopholes and hazards associated with
the formation of digital culture. The goalwould be to manage what the organization and the outside
world see.
Thus, employees should be educated on the dynamics of good digital culture that would aid in
developing a strong digital culture inside the firm. Employees must be exposed to and taught on
fundamental understanding in order to establish an innovation transformation.
A well-established digital culture will aid in the development of an open and authentic ideology
with a distinct communication channel that will not only help to build and enhance staff members
but also trickle down to clients, and this will aid in modelling techniques and interacting
authenticity, as well as establishing relationships.
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Figure 2 Figure 2 Features of a Digital-Ready Culture by Think with Google (2017)
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examples of workplace collaboration are open dialogue, multi-skilled groups, and collaborative
creativity.
The scope of directing cooperation must also include the abilities required for efficient and
successful collaboration. Some of the commands should consist of: responding to members'
concerns, analyzing problems without blaming others, building consensus as it relates to
organizational objectives, and upholding compromise where necessary to move the organization's
agenda ahead. Collaboration has numerous and diverse advantages, including rapid invention,
individual developing skills, and increased productivity for all distant teams.
The corporation is searching for a Chief Commercial Officer (CCO) to design strategies and key
performance indicators (KPIs) to ensure the company achieves and exceeds its objectives.
Individuals will work with several divisions on planning, bilateral trade flows, and marketing
tactics to help the firm reach its goals (Evans, and Forth, 2015). It involves obligations such as,
creating significant commercial KPIs for the company to track. Analyze industry trends and create
a sustainable business strategy based on regulatory possibilities. In order to increase important
KPIs, I led the marketing and salespeople. It is involved actively in the group's inspiration,
motivation, and recruitment of new members. Develop an understanding of the client's needs and
guarantee they are met. Finally, it ensures that all business actions are aligned with the
organization's success.
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Technologies and creativity are another important quality that an effective leader must have. A
leader must be more innovative and creative in order to keep the business development vision alive
and to move the firm into the growing realms of commercial technology (Evanschitzky, et al.,
2020). The complexity of digital and technological transformation necessitates the organization
having leaders with the following characteristics:
Focus-While no manager is immune to personal distractions or challenges, having strong personal
management skills is critical. This allows the leader to correctly establish priorities and focus more
on the more pressing concerns.
Technologies and creativity are another important quality that an effective leader must have. A
leader should be more innovative and creative to keep the business development vision alive and
to move the firm into the growing realms of commercial technology. Patience- A leader who is not
a patient will be unable to keep an organization focused (Card, and Nelson, 2019). A patient leader
provides confidence and assistance to the organization's people or teams. In business, strange,
unexpected, and complicated events arise, necessitating the presence of patient leaders who are
not led by emotions; patience is a distinctive characteristic that every leader must possess.
Emotional Intelligence-Effective representatives should have a higher moving maturity ratio.
Empathy is needed to help the leader connect with his inner strengths and equally use them to
make the organization more efficient, mainly through leading by example and giving supportive
supervisory directives. Such characteristics would be critical in bringing about the company's
required digital and technical change.
7. Conclusion
Within a company, digital and technical change needs collaboration, attention, and consistency.
This would be evident in how stakeholders and workers adopt a digital culture in the firm, as well
as how developing technologies are used to assess and anticipate existing trends. To supplement
its abilities, the organization may tap into a large pool of competent workers in the informal sector.
Likewise, it should invest more in business research and analytics to ensure its long-term viability.
It is also critical to create growth and financial skills and technology. As a result of technological
and digital business model innovation, the market is being disrupted, and existing incumbents are
being challenged. Organizations must improve their capacity to detect, prioritize, and respond to
digital disruption as the digital business grows.
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8. References
1) Argüelles, A.J., Cortés, H.D., Ramirez, O.E.P. and Bustamante, O.A., 2021. Technological
Spotlights of Digital Transformation: Uses and Implications Under COVID-19 Conditions.
In Information Technology Trends for a Global and Interdisciplinary Research Community
(pp. 19-49). IGI Global.
2) Bughin, J., 2017. The best response to digital disruption. MIT Sloan management review,
58(4).
3) Card, D. and Nelson, C., 2019. How automation and digital disruption are shaping the
workforce of the future. Strategic HR Review.
4) Evans, P. and Forth, P., 2015. Navigating a world of digital disruption. IEEE Engineering
Management Review, 43(3), pp.89-97.
5) Evanschitzky, H., Bartikowski, B., Baines, T., Blut, M., Brock, C., Kleinlercher, K., Naik,
P., Petit, O., Rudolph, T., Spence, C. and Velasco, C., 2020. Digital disruption in retailing
and beyond. Journal of Service Management Research, 4(4).
6) Genus, A. and Nor, M.A.M., 2007. Bridging the digital divide in Malaysia: an empirical
analysis of technological transformation and implications for e-development. Asia pacific
business review, 13(1), pp.95-112.
7) Kalven Jr, H., 2020. The New York Times Case: A Note on" The Central Meaning of the
First Amendment". The Supreme Court Review, 1964, pp.191-221.
8) Karimi, J. and Walter, Z., 2015. The role of dynamic capabilities in responding to digital
disruption: A factor-based study of the newspaper industry. Journal of Management
Information Systems, 32(1), pp.39-81.
9) Matt, C., Hess, T. and Benlian, A., 2015. Digital transformation strategies. Business &
information systems engineering, 57(5), pp.339-343.
10) Puglisi, R., 2011. Being the New York Times: the political behaviour of a newspaper. The
BE journal of economic analysis & policy, 11(1).
11) Stonehouse, G.H. and Konina, N.Y., 2020, February. Management challenges in the age
of digital disruption. In 1st International Conference on Emerging Trends and Challenges
in the Management Theory and Practice (ETCMTP 2019) (pp. 1-6). Atlantis Press.
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12) Tsakalidis, A., Gkoumas, K. and Pekár, F., 2020. Digital transformation supporting
transport decarbonisation: technological developments in EU-funded research and
innovation. Sustainability, 12(9), p.3762.
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