1. Explain how strategic management and the strategic management process are illustrated in this case. Let’s look at what “strategic management” and “strategic management process” mean. First, strategic management “is the process of analyzing the current situation, developing appropriate strategies, putting those strategies into action, and evaluating and changing those strategies as needed (Coulter, 2013). And “strategic management process “implies sequential and interrelated activities leading to some outcome. In the strategic management process, the interrelated activities- situation analysis, strategy formulation, strategy implementation, and strategy evaluation – result in a set of strategies the organization uses in doing its business (Coulter, 2013).” In the MTV case, strategic management and strategic management process are illustrated when they created the MTV channel in the early 1980’s in which they targeted an audience of teens and young adults. And then they added reality television in 1992. Even though for years the MTV ratings declined they still had a massive audience. By 1981 they had increased their subscribers to 2.1 million. When MTV’s audience expanded this allowed the company to expand and lead them to owning many MTV channels and show. This company grew tremendously which lead them to go global and digital in the United States as well as other countries around the world. With their global strategy they have reached over 520 million households in 160 countries. They used the first-in-market strategy. They also set up a plan for their company after the industry critized their digital strategy.
2. What challenges do you think MTV might face in crafting future digital and global strategies? MTV may face some challenges in crafting future digital and global strategies. The first I think they may face is from the criticisms they got from the
References: Coulter, M., Strategic Management in Action, Sixth edition