Media Industry Has Experienced Terrible Depression Essay

Media Industry Has Experienced Terrible Depression Essay

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Fairfax Media is one of the leading organisations in Australian media industry with sophisticated operation in different markets, including newspaper, internet and magazines. However, Australia’s media industry has experienced terrible depression in the last few years, with media companies suffering horrific reductions in circulation, advertising and revenues. Therefore, planned change intervention is required to maintain the corporation at the leading position of the industry.
In theory, transformation is a certain characteristic of a corporation in this turbulent environment of changing conditions. Therefore, Fairfax has recognised the necessity for planned change and its benefits that it could have on the organisation operations. However, changes could also cause damages to the organisation if they are not designed and implemented through scientific and planned processes. As researches, there are two distinctive categories of change, including radical change and incremental change (Waddle et al. 2008). Incremental change refers to the minor changes that take place within a corporation; it exploits existing features and improves competitiveness within current markets so it creates low uncertainty (Waddle et al. 2008). In contrast, radical change refers to the major changes; it explores new features and creates significant change that transforms existing market which creates high uncertainty (Waddle et al. 2008). At the moment, Fairfax Media has adopted both incremental and radical change.
2.1 Key change management concepts
According to environment framework, it focuses and explores on different levels and environments that each influences the corporation in distinctive means (Waddle et al. 2008). It inc...


... middle of paper ...


...for users, ensuring their sites are considered as world leading in online news.
Moreover, maintaining and developing position in digital industry is a strategic decision that has advantaged Fairfax Media beyond expectation, more than two thirds of the firm’s consumer now accessing their news by digital gadgets ( Fairfax, 2015). Therefore, Fairfax Media aims to continue the expansion in digital market to generate future opportunities. The opportunities of digital market have created vital elements to expand into new markets such as digital advertising market. As customer preferences changing toward a digital future, Fairfax Media’s business division, which is Fairfax Digital, has established a well position to create a sustainable future for the corporation within digital market. Fairfax Digital is a clear future for organisation opportunities.


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