Will Technology Save the Publishing Industry?
The internet has affected newspapers and book publishers in various ways. More so in the past, the internet has had more of a negative effect on newspaper and book publishers. In regards to advertising and people actually reading handheld newspapers and books, there has been a recent decline. But in regards to online news sites and people reading with handheld devices such as an iPad or Kindle, it has increased and grown tremendously.
According to Michael Porter’s competitive five forces model, a company must perform each step in the model in the most efficient way possible to achieve the most that they can within the company. This is to add value to the company. Some of the main values to get across in this model are the service, marketing, sales, logistics and operations. The internal environment of a company is also vital to achieve success for the overall company. This includes things such as the various departments, like human resources and the technology departments. Since many companies fail at adding these values to their company it results in an overall loss in profit. Subsequently, the value of actions in the value chain fell short of the values that the companies had to offer.
Due to the increase in internet users, there has been a great lack in books and newspapers since the value of the internet exceeds the value of newspapers and books. Personally, hardcover books will always be a personal favorite to myself. However, to the general public, they no longer have the want or need for hardcover books or newspaper subscriptions; because overall, they could be found online for a reduced or free price. Generally, no one cares for hard copies of anything anymore. Essentially, there is no competitive edge in publishing companies. Therefore, the publishing companies have not succeeded in preserving their cost advantage against other competitors, such as the internet. In regards to Porter’s model, a successful company uses the five forces in their industry.
According to Michael Porter’s competitive five forces model, a company must perform each step in the model in the most efficient way possible to achieve the most that they can within the company. This is to add value to the company. Some of the main values to get across in this model are the service, marketing, sales, logistics and operations. The internal environment of a company is also vital to achieve success for the overall company. This includes things such as the various departments, like human resources and the technology departments. Since many companies fail at adding these values to their company it results in an overall loss in profit. Subsequently, the value of actions in the value chain fell short of the values that the companies had to offer.
Due to the increase in internet users, there has been a great lack in books and newspapers since the value of the internet exceeds the value of newspapers and books. Personally, hardcover books will always be a personal favorite to myself. However, to the general public, they no longer have the want or need for hardcover books or newspaper subscriptions; because overall, they could be found online for a reduced or free price. Generally, no one cares for hard copies of anything anymore. Essentially, there is no competitive edge in publishing companies. Therefore, the publishing companies have not succeeded in preserving their cost advantage against other competitors, such as the internet. In regards to Porter’s model, a successful company uses the five forces in their industry.