Future of the New York Times
The Future of the New York Times In my opinion there should not be a “trade-off between the company philosophy and the core goals of sustainability, profitability, and growth”. The goal of any company and organization is to survive. Companies and organizations create mission statements and set forth goals.
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Pearce and Robinson (2013) states “the unique purpose that sets a company apart from others of its type and identifies the scope of its operations in product, market, and technology terms” (pg. 3). The mission statement or philosophy that is a distinguishing factor of differences between companies, helping to set for the company’s operations and ethics for their products, as well as for their place in the market, as well as in the community. With the New York Times, the message given (mission) is to deliver responsive and accurate “journalism” to their customers, as well as to areas outside of New York.
The New York Times has lived up to its mission, by adhering to its ideals; the New York Times has foregone being profitable, as well as sacrificing growth. In the article we read,” The constancy of their commitment to high-cost journalism has put the Sulzberger family in an increasingly contrarian position…the Sulzberger’s have subsidized the Times in valuing good journalism and the prestige it confers over profits and the wealth it creates…for much of its history, the Times barely broke even” (Bianco, 2005, p. 65).
How a company image is portrayed to the world is a crucial factor and element of their values, ethical standards, mission and goals. The New York Times, without the Sulzberger’s wealth, would have failed years ago with its current stated mission and goals. The New York Times needs to take a step back and examine where they started, where they have been, where they are now and where they want to go, as well at taking a good look at today’s world and begin to benchmark their competitors and creating a new vision for the New York Times.
The Sulzberger’s and Bill Keller are giving the impression that they are endeavoring to changes in order and moving away from their belief “that quality journalism pays in the long run” (Bianco, 2005), it’s hard to change 100 plus years of business strategy. In all companies, not just the New York Times, the image portrayed is important and may also determine a company’s credibility, as well as its future. The value system, including its mission and goals will set the direction of the company.
The ethic’s which are portrayed daily need to be consistent with the direction that the company has set from the top (President & CEO and Board of Directors) on down to each and every employee. Years of hard work in preserving a company’s image and place in the community can be lost in a single failure or lack of foresight. References Bianco, A. , Rossant, J. , & Gard, L. (2005). The future of the new york times. Businessweek, 3916, 64-72. Pearce, J. A. , & Robinson, R. B. (2013). Strategic