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Publisher visioning session senior management retreat 1999

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Discussion document designed to initiate a strategic visioning session with senior management with a multi-billion dollar educational publisher.

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Publisher visioning session senior management retreat 1999

  1. 1. Michael Cairns Managing Partner Information Media Partners Visioning Session Senior Management Retreat 1999
  2. 2. 2 Introduction Michael Cairns is a publishing and media executive with over 25 years experience in business strategy, operations and technology implementation. As a business executive, Mr. Cairns has successfully managed several troubled and under- performing businesses, creating new business opportunities, developing new funding sources and enhancing shareholder value for investors. His years spent as an operating executive have largely been with brand-name publishing companies such as Macmillan, Inc., Berlitz International, Wolters Kluwer Health, Reed Elsevier and R.R. Bowker. As a consultant, Mr. Cairns has worked with clients as diverse as AARP, Hewlett Packard, InterPublic Companies and Reed Elsevier with an emphasis on business strategy, market development and corporate development. His skills and experience include:  Business and corporate strategy development and implementation  Operations management and business transformation  Traditional and digital publishing and operations  Print-to-digital transformation and adoption of new business models  Software development and software services Mr. Cairns holds an MBA (Finance) from Georgetown University and a BA from Boston University. He has served on several boards and advisory groups including the Association of American Publishers, Book Industry Study Group and the International ISBN organization. Additionally, he has public and private company board experience. 2 Michael Cairns Information Media Partners Strategy Consulting New York, London, Melbourne Tel: 908 938 4889 Michael.cairns@infomediapartners.com Find me: LinkedIn Twitter Blog Flickr InstaGram
  3. 3. 3 Information Media Partners Michael Cairns established Information Media Partners in 2006 as a boutique strategy consulting firm focused on the information and education publishing segment. The work conducted by the firm includes product development, corporate development, sales management and corporate reorganizations. We work with established businesses, private equity owners and potential acquirers. Examples of our work include:  Reorganized and re-focused a $25 million software publishing company by aligning business operations with client priorities; implementing internal collaboration tools and project management standards; re-building executive team to focus on effective and efficient management  Defined a new business strategy for a large non-profit association and advocacy group, expanding their business model into global markets to exploit their core knowledge and expertise across a broader market  Led an information technology capabilities review at a large international advertising holding company. Completed over 200 interviews in 15 international offices and multiple group focus sessions to define the operational ‘gaps’ between existing agency capabilities and those necessary and important for client delivery by region  Completed a sales management effectiveness review for a global software company and defined six key project initiatives to improve sales effectiveness, market development and account management We approach our client engagements in a standardized, logical manner which creates the best environment to identify key business drivers, administrative and logistical road blocks and/or product or market definition issues. Our investigative approach leads to better insights into your businesses and supports the development of workable solutions and recommendations for success. Visit the Information Media Partners website for more information. Sample Client List
  4. 4. 4 E-commerce in the Publishing Industry  E-Publishing trends  Strategic/market issues  Operations issues  Implications for Publisher  Overview of demonstrations 4
  5. 5. 5 A paradigm shift from products to services... 5 Fragmented marketplace Stable operating environment Past Limited innovation Hard asset utilization Author relationships Publisher & Editorial focused Decentralized operations Low inventory turnover Consolidation Concentration on financial performance Present Product driven: push Hard asset utilization Rights management “Professional management” Centralized operations Low inventory turnover New competitors Balanced scorecard Future Service model: product pull Soft asset leverage Modular rights management “Voice of the customer” Networked environment High ‘content’ turnover Industry environment Business model Operations model E-Publishing trends
  6. 6. 6 …and raises new strategic and market positioning issues Issues Market environment of rapid innovation New competitive landscape Branding impacts of new electronic products Alliances and partnerships Direct access to consumers by content originators 6 Implications  Experiment with new approaches to packaging and delivery  Recognize period of co-existence of electronic and print: duplicate costs  Watch non-traditional competitors closely  Anticipate competitors’ strategy options  Manage relationship of traditional and electronic brands  Develop information assets that support core brand values  Use “Value nets” to leverage business portfolio  Ensure end-to-end customer responsiveness  Establish publishers’ ‘value add’ in consumers’ minds Strategic issues
  7. 7. 7 E-Publishing brings six broadly defined operating challenges 7 RICHER •Rights •POS/Inventory •Digital Objects BETTER •Demand driven •Multi-media EASIER •New Products •Reuse Data TIMELY •As and when required FASTER •Days not months EARLIER •Continuous development Distribute and Fulfill content Manufacture Content Sell, Market and Promote Produce and Organize Content Acquire, Edit and Reformat Content Operations issues
  8. 8. 8 Media- and title - independent content drives product development 8 Distribute and Fulfill content Manufacture Content Sell, Market and Promote Produce and Organize Content Acquire, Edit and Reformat Content Issue  Rigid editorial and production processes: inherently inefficient and cumbersome  New acquisitions: concept of broad, “leverageable properties”  Need for complex management of permissions, rights and royalties Implication  Establish media independent content development processes  Assess authors/titles on leveragability of properties across divisions and format  Ensure rights negotiations take into account a broader range of business options Operations issues
  9. 9. 9 Fundamental content development process changes facilitate E-publishing 9 Distribute and Fulfill content Manufacture Content Sell, Market and Promote Produce and Organize Content Acquire, Edit and Reformat Content Issue  Content is dispersed and undervalued across enterprise  Content is not linked to related business information (e.g., rights, availability, contracts  Limited editorial and production cataloguing methodology to enable process consistency, content leveraging, legal approvals, reviews, etc. Implication  Enhance competitive position via time-to- market improvements  Improve margin by decreasing production costs  Improve control of assets by linking content to associated meta data  Standardize and centralize content creation and distribution Operations issues
  10. 10. 10 Often for the first time, publishers are gaining direct contact with users 10 Distribute and Fulfill content Manufacture Content Sell, Market and Promote Produce and Organize Content Acquire, Edit and Reformat Content Issue  From one to multiple business models  Management of marketing and customer data: potential revenue streams from advertising, commissions, list management  The Internet enables a one to one relationship with customers Implication  Develop multiple electronic store fronts  Develop distinct genre, geographic lines to maximize customer target segmentation  Develop electronic cross-merchandising to capture incremental revenue  Leverage customer information for individually targeted marketing and sales programs  Develop collection and privacy/security methodology for customer data  Manage customer life cycle from initial contact to segmentation to (re)purchase Operations issues
  11. 11. 11 Product manufacture is ‘pushed’ to sales channel and customers 11 Distribute and Fulfill content Manufacture Content Sell, Market and Promote Produce and Organize Content Acquire, Edit and Reformat Content Issue  Customer demand for more flexible, ‘build to order’ content configuraton  Current manufacturing processes are not designed to be profitable for low batch custom publishing  Increases in non-text formats: audio, video, images, live action Implication  Enable customers to create books based on targeted index that sources content from content library  Design new manufacturing and content storage processes to profit from short run custom printing  Maintain process and distribution flexibility to catalogue and distribute new/alternate forms of content Operations issues
  12. 12. 12 Distribution and fulfillment becomes an opportunity to add value 12 Distribute and Fulfill content Manufacture Content Sell, Market and Promote Produce and Organize Content Acquire, Edit and Reformat Content Issue  ‘Back office’ becomes ‘front office’  Channel conflicts: distributors, wholesalers, retailers, online retailers  Current retail environment allows a customer to select and acquire products immediately Implication  Make ‘Back office’ (billing, technical support) a point of value-added client service  Design Internet sales to complement retail relationships  Upgrade distribution capabilities to accommodate direct-to-consumer sales  Improve logistics of the Internet retail environment to respond to customers’ needs Operations issues
  13. 13. 13 E-publishing may require large changes in the value chain 13 Distribute and Fulfill content Manufacture Content Sell Market and Promote Produce and Organize Content Acquire, Edit and Reformat Content Fulfill contentProduce ContentManage Affiliates & Partners Manage Database Marketing Acquire Customers Traditional Model Online/Interactive Model • Petersons • Third Party • Data Mining • Customer Care • Content suppliers • ‘Portal’ sites • Channel conflicts • Non output specific • Billing and Collections • Inventory Mgmt • Demand planning • Sales force utilization • Product development costs • Content (what) in Context (when) Implications
  14. 14. 14 E-publishing may require large changes in the value chain Distribute and Fulfill Content Manufacture Content Sell Market and Promote Produce and Organize Content Acquire, Edit and Reformat Content TRADITIONAL MODEL Fulfill ContentProduce ContentManage Affiliates & Partners Manage Database Marketing Acquire Customers ONLINE/INTERACTIVE MODEL • Billing and Collections • Inventory Mgmt • Demand planning • Sales force utilization • Product development costs • Petersons • Third Party • Data Mining • Customer Care • Content suppliers • ‘Portal’ sites • Channel conflicts • Non output specific • Content (what) in Context (when)
  15. 15. 15 E-publishing will create substantial growth opportunities for Publisher Print format textbooks • universities • professional channels Customized & interactive course materials • universities • professional • channels $ Print format textbooks • global marketplace • regions, countries with high growth in 17-24 year-olds $ Perpetual, distributed interactive learning & certification of mastery • workplace • residence • application-driven $$ MARKETS NewExisting PRODUCTS New Existing
  16. 16. 16 Michael Cairns Managing Partner Michael.Cairns@InfoMediaPartners.com 908 938 4889 LinkedIn Twitter Blog Flickr InstaGram

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