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Managing media companies: harnessing creative value

Author: Aris, Annet ; Bughin, Jacques R.INSEAD Area: StrategyPublisher: Wiley, 2009.Edition: 2nd ed.Language: EnglishDescription: 384 p. : Graphs ; 24 cm.ISBN: 9780470713952Type of document: INSEAD BookNote: Doriot: for 2014-2015 courses Bibliography/Index: Includes bibliographical references and indexAbstract: The authors of this book have made an in depth study of the strategies and management practices of leading media companies and have identified the core competences media companies need to have to win in the new world. The book is strongly focused on applicability and combines long standing best practice principles with innovative approaches for staying ahead. It systematically discusses competences needed in each of the key functional areas in the media companies drawing on examples from all main media sectors.
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Doriot: for 2014-2015 courses

Includes bibliographical references and index

The authors of this book have made an in depth study of the strategies and management practices of leading media companies and have identified the core competences media companies need to have to win in the new world. The book is strongly focused on applicability and combines long standing best practice principles with innovative approaches for staying ahead. It systematically discusses competences needed in each of the key functional areas in the media companies drawing on examples from all main media sectors.

Digitized

Managing Media Companies Harnessing Creative Value Table of Contents ADVISORY BOARD ........................................................................................................... xi ABOUT THE AUTHORS .................................................................................................... xii PREFACE ......................................................................................................................... xiii ACKNOWLEDGEMENTS ................................................................................................ XV CHAPTER 1 Introduction ....................................................................................................................... 1 Media: One or Many Industries? ......................................................................................... 1 Current State of the Industry ............................................................................................... 5 Focus and Scope of the Book ........................................................................................... 11 CHAPTER 2 Rebalancing the Media Value Chain .............................................................................. 13 Current Practices Mostly Historically Grown ..................................................................... 13 Fundamental Changes Still Ahead .................................................................................... 20 Consequences for the Management of Media Companies ............................................... 29 Is a Fundamental Rethink of Future Business Models Needed? ...................................... 34 Key Takeaways ................................................................................................................. 36 Case Study: The Welt Group: Creating New Business Models For News Provision................................................................................................................... 38 Case Study. Hubert Burda Media: In Search of New Digital Business Models .................57 Case Study: Mediaset: From Focused Broadcaster to Value Chain Operator ...................69 CHAPTER 3 Creating and Leveraging Innovative Content ............................................................... 83 Future Role of (Blockbuster) Content ................................................................................ 83 Should Content be Redefined? ......................................................................................... 89 Management of the Content Generation Process ............................................................. 92 Peer Production, User-generated Content and Co-creation ........................................... 101 Key Takeaways ............................................................................................................... 102 Case Study: Endemol: Diversifying the Content Portfolio ............................................... 104 Case Study: OhmyNews: Creating a Sustainable Model for Content Co-creation ..................................................................................................................... 112 CHAPTER 4 The Fight for Customer Attention: Intelligent Mass Marketing and Cautious Niche Strategy ....................................................................................... The Increasing Need to Understand Customers ............................................................ Strategic Brand Management ......................................................................................... Fine-Tune the Marketing Strategy to Revenue Model .................................................... Marketing Strategies for Subscription-based Players ..................................................... Marketing Strategy for Niche and Thematic Offerings .................................................... Key Takeaways .............................................................................................................. Case Study: Canal+: Keeping Consumer Loyality in the Face of Platform Competition .................................................................................................................... Case Study: EMI: Developing New Marketing Models for the Digital Age ..................... Case Study: Telenet: Leveraging Digital Segmentation ................................................. CHAPTER 5 End-to-end Supply Chain Management ...................................................................... Achieving Operational Excellence in Supply Chain Management .................................. Enhancing the Effectiveness of Standardized Media Supply Chain Processes ............................................................................................................ Improvement Levers for Non-standardized Processes in the Media Industry ................................................................................................................ Managing the Transition to Digital Platforms .................................................................. Key Takeaways .............................................................................................................. Case Study: RTL Group: Creating a Digital Value Chain ............................................... CHAPTER 6 Ways Out of the Advertising Commodity Trap .......................................................... Traditional Advertising Under Increasing Pressure ........................................................ The First Wave of Advertising Spending Shift: Direct Marketing and Below the Line ........................................................................................ Digital Technology at the Core of the Second Wave....................................................... Reaching New Capabilities in Advertising ...................................................................... Key Takeaways .............................................................................................................. Case Study: Schibsted: Diversifying the Advertising Source ......................................... CHAPTER 7 Corporate Strategy in Media ........................................................................................ Current Media Landscape .............................................................................................. Future Portfolio Logic ..................................................................................................... Key Takeaways .............................................................................................................. Case Study: Liberty Global: Multichannel Portfolio Play................................................. Case Study: Lagardère Active: Restoring Growth Through Operations . . ..................... Case Study: Sanoma Group: Restructuring the Portfolio for Growth ............................. 121 121 128 133 136 141 143 144 156 167 179 179 181 189 192 197 198 211 211 213 214 226 247 248 259 259 266 276 277 284 293 CHAPTER 8 The Future Role of Online Media ................................................................................. Online Start 1995-2001: 'Overestimate in the Short Term' ............................................. Period of Consolidation 2002 to 2008: Building the Digital Platform .............................. Online Media Business Models ...................................................................................... Key Takeaways .............................................................................................................. Case Study: Second Life: Peer Production Through Co-creation .................................. Case Study: YouTube: Building Social Media ................................................................ 303 303 306 312 321 322 330 CHAPTER 9 People Management in Media Companies: Creative Managers or Managed Creativity? ..................................................................................................... 339 Current People Management Practices in the Media Industry ....................................... 339 Current Challenge: Embrace 'Creators' Yet Do Not Understate 'Transformers' ............. 341 Common Principles of People Management Processes for 'Creators' and 'Transformers' ................................................................................................................. 342 Management of 'Transformers' ....................................................................................... 345 Management of 'Creatives' ............................................................................................. 346 People Management in the Digital Media Era ................................................................ 356 Outlook and Open Questions ......................................................................................... 364 Key Takeaways .............................................................................................................. 364 Case Study: BBC: Adapting the Organization to the Digital World ................................. 366 INDEX ............................................................................................................................. 375

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