The Strategic Digital Media Entrepreneur 1st Edition by Penelope M. Abernathy, ISBN-13: 978-1119218043
[PDF eBook eTextbook] – Available Instantly
- Publisher: Wiley-Blackwell; 1st edition (November 20, 2018)
- Language: English
- ISBN-10: 1119218047
- ISBN-13: 978-1119218043
A goldmine of strategic insights and practical business guidance covering all aspects of media entrepreneurship in the Digital Age.
The media industry is facing epic upheaval. Revolutionary new technologies compel those in businesses as diverse as broadcasting to book publishing to radically recreate their business models or be left in history’s wake. At the same time, those with the next big idea are eager to acquire the business know-how needed to make it in today’s brave new world of media. Written by a uniquely well-qualified author team, this book addresses the concerns of both audiences.
Penelope Muse Abernathy and JoAnn Sciarrino provide timely lessons on everything from media financing to marketing, business strategy to leadership, innovation to business accounting. They use numerous case studies and real-world vignettes to reveal the success secrets of today’s hottest media entrepreneurs, as well as the fatal flaws that leads many promising new ventures down the road to ruin. They begin with a primer on digital entrepreneurship basics, covering how to create a winning digital business model, obtain financing, do business accounting, identify strategic challenges, and more. From there they show you how to:
- Develop sustainable customer-focused strategies while overcoming the unique leadership challenges of the Digital Age
- Define your company’s unique value proposition, prioritize investments in key assets, and form strategic partnerships and alliances
- Understand and prepare to exploit the vast potential inherent in the next generation of digital technologies, including artificial intelligence, virtual reality, and blockchain, among others
Packed with practical insights and guidance on all aspects of the business of media in the Digital Age, The Strategic Digital Media Entrepreneur is a must-have resource for professionals and students alike in advertising, marketing, business strategy, entrepreneurship, finance, social media, and more.
Table of Contents:
Cover
Preface
Part I: Understanding the Basics of Digital Entrepreneurship
1 Gutenberg to Zuckerberg
Defining a Media Enterprise
How Innovation Drives the Business Models of Media Companies
What Is the Difference between Disruptive versus Sustaining Innovation?
Innovators and Entrepreneurs: A Comparison
Mark Zuckerberg: Innovator and Entrepreneur?
Summary
2 The Story Behind the Numbers
The Basic Economics of Book Publishing
Digging into the Numbers: Understanding the Story behind Financial Statements
What Does the Income Statement Reveal about Profitability?
The Balance Sheet: What Are the Most Valuable Assets and Most Onerous Liabilities?
The Cash Flow Statement: How Does a Company Make and Spend Money?
Go Set a Watchman and HarperCollins: An Update
Summary
3 What Is a Company Worth?
What Affects the Value of a Media Company?
How Investors Place a Price Tag on a Company
Who Are Today’s Media Investors?
How Do You Calculate a Return on Your Investment?
Summary
4 The Transformed Competitive Landscape
What Are the Various Stages in the Life of a Company?
How the Imperative to Grow Affects Strategies
How the Pace of Change Affects Strategies in the Digital Age
How the Internet Challenged Existing Market Structures
Has the Internet Changed Everything? What Is the Business Model Going Forward?
MTV, Vice, and the Future of Viacom
Summary
Part II: Creating Sustainable Strategies and Business Models
5 A Strategy for Dealing with the New Business Imperatives
What Are the Emerging Business Models?
Creative Destruction
Creating a Business Plan from Scratch
What Are the Strengths and Weaknesses of the Current Business Model?
What Are the Components of a Sustainable Digital Business Model?
Summary
6 Defining a Unique Value Proposition
The Netflix Story: Three Value‐based Strategies
Why All Companies Need Unique Value Propositions
Steps to Creating a Value Proposition
Translating Value into Profit
Disruptors of Media Value Propositions
Summary
7 Understanding Customer Relationships in a Digital World
Segmenting Customers
Targeting Customers
Applying Targeting and Positioning: Types of Purchasers in the Life‐Cycle of a Product
Categories of Customer Relationships
Considerations in Designing Customer Relationships
Evaluating Profitability
The Importance of Customer Loyalty
Summary
8 Reaching Current and New Customers
The Problem of Drift
What Are the Channels in Marketing?
Evaluating Customer Acquisition and Retention by Channel
Changing Customer Behavior and Media Consumption
Tools to Reach Your Customers
Evaluating Effectiveness and Efficiency of Channels to Reach New and Current Customers
How Customer Experience Affects Loyalty and Brand Attachment
Summary
9 Competing in a Networked World
Media Economics on Steroids: How to Measure Infinity?
Contested Boundaries: Battle of the eBooks
The New Economics of Networks and Networking
The Art of Collaboration in a Competitive World
Summary
10 Investing in Key Assets and Capabilities
Understanding the Different Media Environments
Identifying the Key Resources Available to Your Company
Developing a Digital Strategy Map and Framework
Digital Transformation Pathways and Strategies
Building a Profitable and Sustainable Business Model
Four Small Companies at a Strategic Crossroads
Summary
Part III: Leadership in a Time of Change
11 Entrepreneurial Leadership and Culture
Why Is Organizational Culture So Important?
What Are the Types of Structure and Culture Found in Organizations?
What Organizational Structure and Leadership do Media Companies Need in the 2.0 Era?
What Is the Best Way to Use Teams?
What Qualities Make for Successful Leaders?
Summary
12 What the Future Holds
What We Know So Far
The Current State of Business
So You Want to Be a Successful Entrepreneur?
What We Still Don’t know
How to Use the Complementary Instructional Website
References
Index
End User License Agreement
PENELOPE MUSE ABERNATHY, MBA, Knight Chair in Journalism and Digital Media Economics, University of North Carolina, has more than thirty years of experience as a journalist and senior business executive at The Wall Street Journal, the New York Times, Harvard Business School Publishing and the Paley Center for Media.
JOANN SCIARRINO, MBA, Knight Chair in Digital Advertising and Marketing, University of North Carolina School of Media and Journalism, has nearly thirty years of experience as a senior advertising and marketing executive, including BBDO.
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