Media Management in the Age of Giants Business Dynamics of Journalism

ISBN-10: 0813816998

ISBN-13: 9780813816999

Edition: 2003

List price: $57.95
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The emergence of giant media corporations has created a new era of mass communications. This new age of media giants, with an obsession for the bottom line to satisfy shareholders dominated by institutional investors, has made awareness of business and financial issues more critical than ever for both new and continuing employees of such enterprises. Media Management in the Age of Giants: Business Dynamics of Journalism is a fresh, insightful, practical media management textbook that examines the current media industry in an age when all the rules seem to be changing because of the new phenomena of digital technology, publicly-traded media conglomerates, and changing media habits and values among consumers. Readers are introduced to basic business concepts, terminology, history, and management theories, all in a context of contemporary events involving media companies in the act of doing business. Focusing on newspaper, TV and radio companies, the text is filled with real-life examples and interviews of media managers illustrating how management is being conducted in all kinds of media companies. Features include chapter-ending case studies and website listings, balance sheet and income statement examples, information on labor unions, a thought-provoking chapter on entrepreneurship, and a detailed index. Written in a clear, conversational style by a former newspaper owner and publisher, Media Management in the Age of Giants explores the business of media and puts students and media employees a step ahead of their peers in knowing what it takes to be promoted into management some day
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Book details

List price: $57.95
Copyright year: 2003
Publisher: John Wiley & Sons, Incorporated
Publication date: 4/21/2003
Binding: Paperback
Pages: 420
Size: 6.00" wide x 8.75" long x 1.00" tall
Weight: 1.430
Language: English

Dennis F. Herrick has extensive media experience including ten years as a daily newspaper reporter, eight years as a congressional chief of staff, and twelve years as owner and publisher of a group of weekly newspapers. He taught at the University of Iowa and is an emeritus member of the journalism faculty at the University of New Mexico.

Responsibilities of Media and Journalism
Historical perspective on the media
Public (stockholder) ownership of media
The biggest story in American journalism
Preparing for a new media world
Conglomerates aren't all bad--are they?
A new media world of convergence
The difference the First Amendment makes
Preparing Yourself for Management
First, get the right job
Getting discovered and climbing to the top
Your first management position
Surviving in the cross-fire
Managing yourself--handling time
Not just anyone can be a manager
Journalists becoming managers
The indispensable management resource
The quick way to the top
Motivation and the Work Force
Unionism in media companies
Layoffs in hard times
When you must fire or lay off someone
Approaches to managing employees
Scientific (or classical) management
Humanistic (or behaviorist) management
Theories of management
Maslow's Hierarchy of Needs
Management by Objectives (MBO)--it's everywhere
Employees need to feel they're being treated fairly
Qualities of Leadership and Management
The sources of power
Leadership practices
Model the way
Inspire a shared vision
Challenge the process
Enable others to act
Encourage the heart
Characteristics of leaders
The immeasurable value of optimism
Pointers on being an effective leader
The MBAs arrive in media companies
Being an effective manager of others
Jerks and vampires don't see themselves in the mirror
What is decision-making?
The steps to making decisions
Risk-taking in the decision process
Categorizing decisions
Analytical decision-making tools
The basic tool
Critical Path Method (CPM) and Performance and Evaluation Technique (PERT)
The Decision Tree
The pay-off matrix
The computer spreadsheet
Hidden traps of decision-making
Who are the decision-makers?
Individual decision-making styles
Group decision-making styles
Media Ethics, Regulation and Laws
Do the right thing
Government and the press
Legal issues in media businesses
Operations and Structure of News Media Companies
The ethics of the media profit chase
The decline of local news coverage
Influence of stockholder interests
Uncommon types of ownership
Three main kinds of ownership
Sole proprietorship
The functional parts of any business
Structure of media companies
Budgeting and Financial Management
The profitability dilemma of media managers
Profit maximization and responsibility
Budgeting and planning
Gantt and milestone charts
The balance sheet
The income statement
Financial analysis ratios
Cash flow and cost-control
Time value of money
Investment criteria
Net present value
Internal rate of return
Payback period
The never-ending conflict
Sales, Marketing and Market Analysis
Traditional wall between business and news
The 4 P's of marketing
Market penetration and pricing
Pricing and marketing decision tools
Pricing analytical tools
Marketing analytical tools
Total market coverage
Market analysis
Market-driven journalism
The power of the cluster
Consolidation and Convergence
There's some safety in large size
Monopoly, oligopoly and joint operating agreements
Combining forces and news roles
Going international
Fragmentation of media markets
Entrepreneurs and managers
Traits of an entrepreneur
Promotion or ownership?
Trying repeatedly is what brings 'luck'
Tips for entrepreneurs
Starting up a business
Seeking success with a business plan
The necessity of money
Ten secrets of business success
Technology Creates New Media
Newspapers and technology
Television and technology
Media business and new technology
21st-century electronic and digital media
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