Torstar Strengths And Weaknesses

Organisation’s Strategic Plan
TORSTAR currently has no strategic plan, which can have a negative impact on the company. Without a strategic plan TORSTAR faces a lack of direction, causing stakeholders to view the company as unpredictable and out of control. Luckily, they are not seen as an unreliable business and they are stable at the moment. TORSTAR’s strategic plan should focus on the importance of digital and social media.

I recommend that TORSTAR creates a strategic plan that will allow them to focus on certain objectives and goals to achieve in the future. The plan will also let them figure out the steps they need to take, in order to attain these goals. Since moving into a greater digital presence, they need to set digital strategies that can allow the organisation to be disruptive, which is a value that Ms. Archbold stated she needed her company to have (Bharadwaj et al., 2013).

Strengths and Weaknesses
Each business has their own strengths and weaknesses, TORSTAR seemed more prevalent to discuss their many strengths, but were very presumptuous to say that they did not have any weaknesses.

Archbold highlighted were that the company is focused on stripping business to its core, revealing their true work sense and ethic. She stated that due to the reduced number of employees, there has been a reduction in administrative costs, allowing the team to focus on other aspects of the business and be motivated to improve their stakeholder relations. Another strength that TORSTAR has is that each employee is well connected to the media. For example, whenever they need to promote a brand, they were able to call in a favour with their connections at a myriad of media sources. The final strength that I believe that TORSTAR shows is their ability to be agile in their industry. Since the demise of media, they have been quick-thinkers about what is important and what they can do