Deseret News had had to make hard decisions in the past. The public seems to adapt to the new culture of getting news in the fastest way possible (Kahane 2012). There is a need for the news to be informative and affordable. Basing on the market trends and competition Deseret News has to set a standard for the future using the scenario planning. It is basing on the principle that the future is surprisingly uncertain.
The company may need to increase its market on the best case vision. Part of the competition it is facing is also coming from Asian firms. Deseret News needs to spread its coverage to Asia and worldwide. The news editors can study the Asian, European and African cultures in depth. Then they can come up with the weekly news magazines that they know are of great interest to the people in those markets. It would work well in the repositioning of the legacy business (Konno, Nonaka & Ogilvy 2014).
When the news agency gets such markets, it would then increase its workforce in those regions. Nations would like to promote companies that provide employment to their citizens and the promotion of development. It should also use the services of the experts and experienced people in the news items it is publishing. It would enable the news agency to be ahead of its competitors (Whelan-Berry & Somerville 2010).
Deseret Digital needs to start focusing on the younger generation (Buchanan, 2011). The continent now has an increased population of younger people than the elderly. The digital portfolio should start focusing on current youthful news that involves music, entertainment, and challenges affecting them (Wade & Wagner 2012). It would enable the organization to tap the market that is growing and grow with it. It should also start dealing with electronic gadgets like the tablets, iPods, and among others. It can partner with the learning institutions that provide online education. It would be a chance to provide these gadgets that have apps and promote current affairs and research tools. If Deseret can embrace these two case scenarios for both the analogue and the digital, it would be the leader in the market five years from now.
However, the worst case vision would also be possible in the five years to come (Gilbert, Eyring & Foster 2012). First is that other organizations like the Amazon and XGS are also advancing in technology. There would also be other news agencies that would develop over time. Given the fast changing environment, the company’s lifespan could also be nearing its end. The company might have to close down or change its business model.
The prospects of the company would be its advanced decision-making process. It would stand the challenges and be able to remain the best company of the century. It is because the company has adopted the new way of doing business by getting experienced workforce. The top leadership has embraced scenario planning and would keep finding new ways to do business.
Deseret would need to source for more experienced workforce and modern equipment to provide better services. It would need to engage with the public through the digital media to find out how it can improve its services. It would also value its customers through promotions and competitive pricing.
References
Buchanan, D 2011, ‘Reflections: good practice, not rocket science – understanding failures to change after extreme events’, Journal of Change Management, vol.11, no. 3, pp. 273-288.
Gilbert, C, Eyring, M & Foster, R 2012, ‘Two routes to resilience’, Harvard Buiness Review, vol. 90, no. 20, pp. 66-73.
Kahane, A 2012, Transformative scenario planning, Berrett-Koehler Publishers, San Francisco.
Konno, N, Nonaka, I & Ogilvy, J 2014, ‘Scenario planning: the basics’, World Futures, vol. 70, no. 1, pp. 28-43.
Wade, W & Wagner, N 2012, Scenario planning, Wiley, Hoboken, New Jersey.
Whelan-Berry, K & Somerville, K 2010, ‘Linking change drivers and the organizational change process: a review and synthesis’, Journal of Change Management, vol. 10, no. 2, pp. 175-193.