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PurposeDynamic capabilities (DCs) help media firms adapt to rapidly changing environments. The purpose of this study is to provide a comprehensive literature review of studies of DCs in strategic management research with a view to understanding its implications for the management of media organizations. Essentially, it fertilizes on the idea that the concept of DC is useful and vital for answering various critical questions regarding the challenges that media organizations are currently facing.Design/methodology/approachThis study builds on a systematic literature reviewing design as the research methodology. It aims to identify, critically evaluate, and integrate factors, dimensions, and findings on studies of DCs in strategic management research and builds knowledge transfers to the field of strategic management research in the media industry.FindingsThe study shows that the DC framework helps media firms effectively respond to changing environments. The conceptual DC framework has implications for media strategy practice. Results indicate a considerable growth in the number of papers published related to the DCs in media organizations from 2003 to 2018.Originality/valueThe study qualifies the relevance and validity of the DC framework in strategic management research for the field of strategic media management. It explores a research agenda in this domain by precisely explaining the significant trends in the theory of DC to shape managerial strategies in the media industry.

This paper investigates how a crisis event resulted in the long-term decline in media-tech firm performance. The research used an innovative approach that developed an intellectual bridge and transfer of knowledge between the previously discrete fields of Strategic Management and Epigenetics. The study used a multi-method approach consisting of the critical incident technique, longitudinal content analysis of corporate annual reports and financial analysis which divided the data into ‘what happened before the crisis event’ and ‘what happen after the crisis event’. The paper concludes that by examining chronic corporate underperformance through the lens of epigenetics, we are better able to understand how a crisis event can create transgenerational responses which result in adaptive cultural norms that combine to consolidate an organisations underperformance.

Purpose This paper provides further evidence on a thought-provoking idea, Transgenerational Response, which was previously presented in this journal. It argues that a corporate crisis event can create dysfunctional adaptive attitudes and behaviors which subsequently become embedded in the corporate culture of a firm to the detriment of its long-term performance. Design/methodology/approach A multi-method approach consisting of longitudinal content analysis of innovation and risk words in corporate annual reports and quantitative financial analysis divided the data into ‘what happened before the crisis event’ and ‘what happen after the crisis event’. Findings Case studies for AIG and Yahoo illustrate how a crisis event produced chronic financial performance and adaptive cultural responses that include a fall in innovation and an increased emphasis on risk in the years following the incident. Research limitations/implications This paper does not make claims of generalisability of the findings. However, it does provide a platform for future researchers to develop this line of reasoning and perhaps extend it to consider why some organizations demonstrate greater levels of resilience when faced with a crisis. Practical implications Identifying a Transgenerational Response means that business leaders can identify how a historic event has affected the performance and cultural dynamics of their firm over time. As such, it will be easier to manage the inherited cultural attitudes and behaviours that have combined to consolidate a firms chronic underperformance. Originality/value This highly original, evidence-based idea, has the potential to reshape our current understanding of corporate turnarounds, CEO turnover, underperformance and adaptive cultural change.

A constant theme in strategic media management literature is the transformational impact that digital media technologies and deregulation have had on shaping media firms’ corporate strategies. Whilst the role of corporate strategy is to encapsulate a firm’s long-term direction and scope of activities, it will also give a strong indication of how the firm will compete and be positioned in an industry. However, the transformative effects of a highly technological media environment have changed our traditional view of how the media industry is defined, and so developing a strategic recipe for competing in an ill-defined industry becomes more challenging. This paper examines a single media firm’s corporate strategy and perimeter and considers this in the context of a changing media industry. The paper takes a practice-led approach by undertaking a longitudinal analysis of a firm’s acquisition and divestment activities in order to understand its corporate perimeter and by implication the industry or industries where it competes. We argue that by exploring a media firm’s corporate strategy and perimeter over time, scholars will not only be able to better understand the dynamics of media practice and strategy, but also gain an insight into the changing nature of the media industry. The paper concludes that Porter’s (1980) seminal work on industry structure, profitability and attractiveness remains a relevant form of strategic analysis that can help media management researchers to conceptualize and understand the evolution of media firm corporate perimeter and the industries in which they compete.

Purpose This paper examines the role that corporate culture plays in shaping firm performance. It specifically examines how a corporate crisis event resulted in adaptive cultural responses that may be inhibiting the level of firm innovation. Design/methodology/approach The research presents a longitudinal analysis of risk and innovation words contained in Barclays Plc corporate annual reports. Findings In the wake of corporate fraud and punitive charges, Barclays Plc introduced a number of new governance structures and a new code of conduct for employees. These initiatives moved the firm away from excessive risk taking, but may have also placed an emphasis on risk aversion at the expense of innovation. Practical implications The insight provided by this viewpoint and analysis may help CEOs and their management teams to better understand how changes in strategy, and or new corporate initiatives, create adaptive changes in culture. These changes, whilst making improvements in one area, may detract from performance in other parts of the firm. Originality/value This paper provides a highly original look at corporate culture and has employed an innovative methodology to underpin the analysis and subsequent viewpoint.

Purpose The purpose of this paper is to illustrate how two media firms, Sky Plc and Pearson Plc, adapted, reconfigured, and transformed their businesses to meet the demands of an operating environment characterized by inexorable changes in digital technologies. Design/methodology/approach The over-arching vision, corporate strategies, and financial performance for both firms are examined over two business cycles. Findings These findings illustrate why firms need to create a portfolio business that takes advantage of the market opportunities created by innovative digital technologies, while off-setting the risks associated with digital disruption. Practical implications Business leaders should not dispense with the basic principles of good strategic business unit portfolio management in their attempts to take advantage of the market opportunities provided by a disruptive digital environment. Originality/value This paper provides a highly original insight into how two firms placed ambitious levels of growth at the heart of their corporate strategies to seize the market opportunities provided by an increasingly digital operating environment.

The business environment for many firms is changing rapidly and is becoming increasingly uncertain due to the disruption caused by new digital technologies, deregulation, new business models, and the threat of new competitive entrants. This dynamic competitive environment increases the level of uncertainty for senior executives and strategic planning teams who bear responsibility for the strategic development of the firm, particularly in terms of the future direction, scope, and the strategy required to deliver on corporate objectives. This in turn, places increased scrutiny on the strategic planning tools that are used to undertake a rational and comprehensive analysis of the competitive dynamics that inform strategy formulation. This article presents empirical findings and reflections on a scenario-planning project that sought to develop a long-term corporate level strategy. While scenario planning is an established constituent of the strategist’s toolbox, the increasing level of dynamism and uncertainty in many markets has meant that it has seen a resurgence. This article presents empirical findings on how the scenario-planning tool was selected and applied before reflecting on the individual and organizational outcomes of using scenario planning to develop an organizational strategy in uncertain market conditions.

Purpose CEO turnover and chronic corporate underperformance are examined through the lens of Transgenerational Response. Design/methodology/approach The criteria for investigating Transgenerational Response in corporations consisted of identifying a Critical Corporate Incident, the number of corporate generations and the resultant corporate financial performance. Findings The evidence presented in the case studies illustrates how a Critical Corporate Incident has produced the consequential effect of chronic financial performance in the years following the incident. Research limitations/implications These case studies have not presented the “actual” adaptive responses, inherited attitudes and behaviours that have subsequently embedded themselves in a new corporate culture, post the Critical Corporate Incident, to the detriment of the long-term health and performance of each firm. Practical implications Examining CEO turnover and chronic corporate underperformance through the lens of Transgenerational Response means that business leaders can identify how a historic event has affected the performance of their firm in subsequent generations. With this knowledge in hand, they will be able to examine the inherited attitudes and behaviours, organizational policies, strategy and adaptive cultural routines that have combined to consolidate the firms chronic under performance. Originality/value This is a highly original, evidence based, idea that has the potential to reshape our current understanding of CEO turnover and underperforming firms. It will help business leaders identify how a historic event has affected the performance of a firm in subsequent generations.

Purpose The purpose of this paper is to provide a strategic commentary on the interconnected areas of corporate strategy and employee performance by illustrating how two organizations adapted and transformed their businesses to the demands of digitalization and new media. Design/methodology/approach A longitudinal analysis (1995-2015) of employee productivity was calculated as operating income per employee for each firm and benchmarked against industry data. Findings Both firm’s corporate objectives and strategies were focused on ambitious levels of growth and the opportunities provided by an increasingly digital environment. However, the firms had transformed their businesses in different ways with distinct employee productivity performance outcomes. Practical implications This paper provides case studies of strategic transformation and argues that HR management strategies and practices need to be continually evaluated to assess their employee productivity in an uncertain digital operating environment. Originality/value This paper provides a longitudinal analysis of how media firms, Sky Plc and Pearson Plc, adapted, reconfigured and transformed their businesses to meet the demands of an operating environment characterized by inexorable changes in digital technologies. It presents data and conclusions on how the management of “human resources” had delivered different employee productivity outcomes over the long term.

Purpose This paper aims to discuss the emerging theme of risk aversion in entrepreneurs following high levels of industry consolidation. Design/methodology/approach This paper is a viewpoint on the authors’ opinion and interpretation of industry consolidation. Findings The UK Independent TV Production Industry has experienced a remarkable degree of consolidation with corporate acquisitions and mergers changing the size, shape and revenue distribution among firms in the industry. In addition, entrepreneurs appear to be more risk averse in terms of entering the industry. Practical implications If the trend in entrepreneurs in the UK TV Production Industry being more risk averse continues, then the number of new startup firms will fall and that could put the future of the industry at jeopardy. Originality/value This paper presents an interesting observation on the impact of consolidation of the UK Independent TV Production Industry, in so far as, entrepreneurs appear to be becoming more risk averse.

Digital technologies have transformed the way many media organisations have conducted their business over the past two decades. This transformational context raises a number of important questions for media management researchers. Firstly, how have media firms adapted their strategies, resources and capabilities in response to the challenges presented by an increasingly digital environment? Secondly, how have these adaptive practices affected their corporate financial performance? This paper advances our theoretical understanding of media firm transformation by using a multi-disciplinary approach that draws on knowledge from corporate strategy, dynamic capabilities and firm performance. This integrated approach provides a more holistic view of strategic business transformation by understanding the strategic arguments that compel firm’s to reconfigure their resources and capabilities in a dynamic business environment.

Purpose – This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach – This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings – The competitive environment is improving, but the high levels of turbulence mean that an increasing number of media firms believe that they are adapting too slowly to change. Practical implications – The paper provides strategic insights and practical thinking that have influenced some of the world’s leading organizations. Originality/value – The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

The competitive dynamics of the UK’s Creative Industries has changed considerably over the past decade and perhaps none more so than in the Publishing Industry. There is no doubt that this industry continues to undergo structural changes that compel firms to adapt and transform their business in response to the dynamic nature of competitive environment. Industries have long been examined by researchers from a strategic perspective with various themes of inquiry relating to; industry structure and positioning, industry evolution and development, industry lifecycle, industry change and industry consolidation. This paper argues that ‘industry analysis’ could usefully draw on Dynamic Capabilities Theory which argues for the strategic adaptation and reconfiguration of firm resources and capabilities in order to address a rapidly changing competitive environment. This paper will present empirical findings from a comparative time-series analysis (1997-2014) of the UK Publishing Industry and compare it to other industries categorised within the UK’s Creative Industries. In doing so, this analysis will add to the limited knowledge base on industry level dynamic capabilities and extend our knowledge on inter-industry comparisons in performance following the reconfiguration of industry resources.

Purpose This paper aims to provide an overview of the role that scenario planning can play in managing the uncertainty caused by changing and unpredictable competitive dynamics. Design/methodology/approach This viewpoint reflects both the practical experience of strategic planners, combined with an academic insight into the advantages of using scenario planning as a management tool. Findings Firms can develop corporate level strategy and gain long-term certainty in their strategic approach by using scenario planning to strategize in a way that allows them to prepare for multiple futures, with multiple strategies. Practical implications Firms can manage environmental uncertainty and turbulence by being “mentally prepared” to address the future by evaluating the critical uncertainties driving turbulence and the strategic options relevant to a number of possible future outcomes. Originality/value A unique combination of practical experience fused with academic knowledge on harnessing the power of scenario planning to manage uncertainty and develop organizational strategy.

The competitive dynamics of many industries have changed considerably over the past decade and perhaps none more so than in publishing. There is no doubt that this industry continues to undergo structural changes that compel businesses to adapt and transform themselves to the demands and disruption caused by innovative new media technologies. But how have the workforce responded to these dynamic changes and what has been the impact on industry performance? This paper presents the findings from a comparative time-series analysis (1997-2013) of the UK Publishing Industry and compares it to other industries categorised within the UK Creative Industries. In doing so, it extends our understanding of inter-industry workforce performance and provide an insight into how the UK Publishing Industry has adapted to digital media over two decades change and turbulence.

The past decade has seen a transformation in the way media organizations have managed their businesses. The emergence of digitalization has paved the way for new media technologies, a proliferation of media outlets and multiple platforms to distribute mediated content. The work of Picard (2002), Kung (2008) and Oliver (2013) demonstrated the nature of high velocity media market conditions, whilst Doyle (2013, p.35) noted that “media firms have naturally adapted” their businesses, in response to the dynamic nature of the media environment, as a means to protect and sustain their company. This paper proposes that media firms manage their business and strategies through a process of adaptation. As such, organizational adaptation is examined through the lens of Dynamic Capabilities Theory (Teece and Pisano, 1994) which is well placed to consider how media firms have adapted (Ambrosini, Bowman & Collier 2009) to a transformational context heavily influenced by technological innovation. This paper will present the findings from a survey of UK media executives and argue that Dynamic Capabilities Theory can be extended to consider the ‘ability’ of a media organization to adapt their strategies, business model, resources and capabilities, faster than their rivals, that can provide them with an Adaptive Advantage in the market place.

In the past decade, television broadcasters have transformed themselves into multi-sector media firms. Traditional media and telecommunications industries have converged, resulting in new media technologies and platforms keyed to digitalisation, correlated with fundamental changes in audience consumption habits, and encouraging exploration of new business models. This transformative and largely unpredictable media environment raises important questions about how media firms have adapted to a competitive media environment that is characterised by uncertainty.

This paper explores the impact that consolidation has had on the UK’s Independent Television Production Industry over the past decade and how this process had affected the running of different sized production companies. \ud \ud In-depth interviews with a number of influential professionals revealed five themes: the management of small companies, post acquisition, had not changed; economies of scale can be attributed to an increase in scale; medium sized companies would find it increasingly difficult to compete; the emergence of the Super Indie had not stifled creativity in the industry; a key driver in the consolidation process is that of individual gain. \ud \ud Key words: Independent Television Production, Industry Consolidation, Key Drivers, Super Indies, United Kingdom.\ud

This paper reflects on the failure of a recent action learning intervention with a UK television company. The aim of the project was to gain insight into the reasons why the viewing figures of their factual programming channels were in decline and to develop a new strategy enabled by the action learning methodology. Unfortunately, this intervention was not successful and resulted in the project being cancelled after only one set meeting. The purpose of this paper is to reflect on the reasons for this failure and to share my thoughts with others in the action learning community. The paper concludes that the reasons for this failed intervention were due to; my presence being considered by some set members as a threat to their credibility; a resistance to engage in the process of assumption breaking and reflective practice; and due to the perceived time it takes to apply the action learning methodology.

Television formats form a major cultural export and yet, there is no protection under copyright law. Format copycats or imitators freely develop game, reality and talent shows based on successful format ideas. Despite this, the format industry has developed an ingenious and complex suite of market based practices that are allowing a thriving format industry to appear. This chapter discusses how TV format makers use brand management practices, in the absence of any legal solutions, to innovate and trade in their products. These include a number of practices such as: developing and managing the format brand identity, developing localized brand extensions and leveraging the producers brand reputation.

One of the principle tenets of action learning is that it provides the potential to explore and solve complex organisational problems. The question of how best to develop a future business strategy is such a problem. Existing literature on strategy making presents a multi-faceted debate, suggesting that the complexity of competitive environments means that the strategic route forward for many organisations can often be unclear. As a lecturer who teaches strategy at university, I have been intrigued by the ‘Learning Group’ of strategy making (Argyris & Schon, 1974; Quinn, 1980; Mintzberg, 1987; Argyris, 1993, 2004) for some time, as it argues that competitive environments are complex and unpredictable, and therefore, organisational strategies must be reactive and flexible. As a consequence, strategies simply emerge over time, and are characterised by a process of trial and error where individuals and groups within the organisation learn more about the environment they are competing in and how best to take ...

PurposeMany businesses have seen their markets and competitive set transformed over the past decade. This revolutionary context has created many high‐velocity markets, where rapid change is a constant, and defining the strategic direction of a firm becomes a more complex activity. This paper seeks to argue that organizations can win in high‐velocity markets by adapting their resource base, renewing capabilities and competencies and achieving dynamic capability.Design/methodology/approachAn extensive review of business and management literature is combined with primary research into a number of large media companies.FindingsWinning in high‐velocity markets requires organizations to adapt their resource base, in a compressed timescale, due to the fast changing nature of market conditions.Practical implicationsOrganizations react differently in the same high‐velocity market conditions. Some will look for opportunities that will provide them with a platform for a step change in their capabilities and competitiveness. Others will batten down the hatches and wait for the storm to pass, and in doing so, will lose their competitive edge.Originality/valueThe knowledge on dynamic capability is fragmented and often untested in practice. This paper consolidates various perspectives and illustrates it in a case study from the media industry. It provides CEOs with a strategic recipe to develop dynamic capability in their organizations.

PurposeBusinesses increasingly find themselves competing in highly dynamic markets, making visibility of the future limited and the strategic way forward ambiguous. The purpose of this paper is to present the findings from a survey of UK media executives and identify their outlook for the industry, and an evaluation of their usage and satisfaction with the tools that they use to manage their businesses.Design/methodology/approachThe survey sampled 24 UK media executives who had responsibility for strategy and other functional areas of their business.FindingsThe survey found four strong themes amongst media executives. These were related to the launch of new products and services, seeking innovation through collaborative partnerships, leveraging their brand and content through new platforms, and uncertainty regarding the future direction of the industry.Practical implicationsThe paper will provide media executives with a better understanding of the management tools at their disposal and how these can be used to improve performance in a number of key areas. Non‐media executives will be able to draw on the paper's findings to see how other firms are managing turbulent and uncertain market conditions.Originality/valueThis is the first survey of the UK media industry in terms of examining the strategic tools that are being used to manage media firms through turbulence and uncertainty.

PurposeThe purpose of this paper is to present empirical evidence that focuses on the use of covert participant observation as a method of data collection and consider the ethical nature of this method as a means to create knowledge that leads to direct management action. This ethical debate centres on issues such as informed consent, rights and consequences. This paper develops the consequentialist argument by reflecting on experiences of using covert participant observation and the consequences of using such a method in empirical management research.Design/methodology/approachConducted independently of one another, two empirical case studies highlight the choices made and the justification for using covert participant observation as a means to investigate organisational issues.FindingsThe paper concludes that this research method can be used effectively within an ethical framework and suggests that researchers need to be more aware of the potential consequences on themselves in terms of the personal, emotional and trust issues that centre around deception when using covert participant observation.Research limitations/implicationsResearchers are now asked to consider the consequences on themselves of conducting covert participant observation and, in particular, to assess the potential problems arising in the form of emotional or personal implications when being deceptive.Originality/valueThe ethical debate concerning the rights and consequences of conducting covert participant observation is extended to include a consideration of the consequences for the researcher pertaining to the collection and use of data using this research method. The paper goes beyond the traditional aspects of the debate by extending it to consider the consequences on the researcher of using what is essentially a research method based on deception.

PurposeThe importance of music in the advertising industry has been long established and is well known to induce consumer emotion, enjoyment, attention and recall. This research aims to develop this positive association theme by investigating whether the type of music played in studio classes would have any impact on the loyalty attitudes of young health and fitness club members toward classes and their service provider.Design/methodology/approachThis study was exploratory in nature and thus employed a qualitative research methodology were 18 in‐depth interviews were conducted. A non‐probability, judgment sample of 16‐24 year old health and fitness club members who had a particular interest in studio classes was conducted.FindingsThe findings indicated that young health and fitness club members were music conscious and that current studio class music was considered by respondents to be standardised. Furthermore, incorporating different music genres in classes can act as a point of consumer differentiation between service providers, therefore, resulting in higher levels of customer loyalty.Research limitations/implicationsAs the research is based on a non‐probability sample, the findings of this paper need to be considered with caution. However, the research may provide some insight or inspiration for future researchers to develop, and or, replicate the findings in order to produce generalisations on the role that music in studio classes can play in developing young consumer loyalty.Originality/valueThis paper takes the mutually exclusive bodies of literature in music and advertising, and customer loyalty and examines them together in a way that seeks to gain insight into loyalty in young consumers. As a result this paper is unique in this sense.

A generation has passed since the term relationship marketing was first defined, yet this concept remains illusive, fragmented, and dominated by isolated theoretical frameworks. As this paradigm moves uneasily into its second generation, it is now increasingly characterised by a polarization of opinion and would be better served by focusing on resolving two fundamental issues. Firstly, there needs to be some form of consensus and convergence in thinking regarding the actual nature of the paradigm in order to direct future research activities toward common ground and replication among its various conceptualisations. Secondly, this convergent position in the paradigm needs to be communicated to the practitioner more coherently in an attempt to move it from being an academic discipline and into the jurisdiction of the practitioner and implementable validity.\ud \ud The purpose of this paper is to articulate a new, but more importantly, convergent conceptual framework for relationship marketing. It draws on a range of traditional and contemporary theory, and importantly, considers how this theoretical base was used in a practitioner environment when developing a relationship marketing strategy. The convergent framework presented in this paper comprises of three fundamental elements, from which past and future research can be (re)focused, developed and extended to produce a paradigm that can be subjected to more rigorous and extensive interrogation. This paper takes a strategic, reflective and organisational look at relationship marketing and contributes to existing knowledge by proposing three fundamental elements, (Organisational Customer Focus, Customer Management Focus and Customer Knowledge Focus) which if successfully integrated by organisations, will converge to produce an effective relationship marketing strategy.