UK media: Managing turbulence and uncertainty.

Abstract

Purpose: Businesses 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/approach: The survey sampled 24 UK media executives who had responsibility for strategy and other functional areas of their business. Findings: The 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 implications: The 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/value: This 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. © Emerald Group Publishing Limited.