RE: Midterm- Case 15 Strategic Analysis: “KRCB Television and Radio: The Canary in the Coal Mine”
We believe that KRCB’s current business model resembles PBS’ which is shown in Figure 1. KRCB’s business model has many gaps in it from community anchors to universal access and connectivity. KRCB isn’t able to afford the new technologies in the TV and radio segments, and they cannot hold on to board members within the community long enough to have strong anchors from the community within the company.
Current Mission, Values, Goals and Objectives
Figure [ 1 ]: Interpreted KRCB Business Model
KRCB’s mission statement had not been changed since its inception and is as follows: “In order to encourage full participation in society and community, KRCB provides educational, informational, and cultural telecommunication services in partnership with our community.” The company also held three specific goals which focused on programming, education, and finances. KRCB’s values include:
* Promote community awareness of cultural richness and human diversity * Serve students in various diverse settings
* Retain current members
* Extend Public TV to 250,000 people in the region who cannot receive PBS * Extend educational TV signal to the many schools outside existing range of other stations * Provide as much local programming as possible
Their financial objective was to remain a stable and enduring institution by exercising sound financial management. KRCB was also reaching towards two goals: To strengthen the quality, quantity, visibility, and support of KRCB’s local programs and services, and to enhance KRCB’s options in providing and responding to new technologies.
Analysis of Current Strategy
After Nancy Dobbs, president and CEO, of KRCB Television and Radio, realized that her company was facing many challenges that could ultimately bring her company down, she decided that it was time to implement a new strategy. Some of the challenges that the company was facing were not being able to reach a broad range of customers and that technology kept changing. At a Board of Directors meeting back in 1996, the members of the board began developing a strategic plan that would help change the organization and turn around declining revenues over the next couple of years. The two strategies that were agreed upon were to “strengthen the quality, quantity, visibility, and support of KRCB’s local programs and services,” and “Enhance KRCB’s options in providing and responding to new technologies.”
These two strategies paved the way for KRCB to start revamping their organization, they had a plan and it was time to take action. Over the next couple of years KRCB TV and Radio began enhancing their technological equipment and their facilities as well as serving the needs and interests of their diverse audience base. Also, they developed a way to increase fundraising as well as, a way audiences could become members of the organization which achieved more financial consistency. Lastly, they strengthened their image and expanded their influences on serving their community.
Not only did KRCB have to change their strategic plan, but they also had to benchmark their company against their competitors. They made sure that the technology they were using for broadcasting was the most up to date and that they obtained the permits they needed to run the equipment. As well as marketing their television and radio programs to meet the needs of children and adult viewers. Next, they had to make sure that their company was going to outperform their competitors in both television and radio ratings. By implementing these new strategies KRCB was able to boost their ratings, revenues, and stay competitive with their fellow competitors.
Core Competencies, Cost Competitiveness, and SWOT Analysis
It is important to determine internal activities within KRCB that are...
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