Transformational Strategy

Transformational - Transformational Strategy Kenroy Fletcher MGT 435 Margaret Browne July 6 2009 Transformational Strategy A strong leader is

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Unformatted text preview: Transformational Strategy Kenroy Fletcher MGT 435 Margaret Browne July 6, 2009 Transformational Strategy A strong leader is always thinking ahead - anticipating - ready with solutions when problems arise. Being a strong leader, one must have a finger on the pulse of staff and customers alike and uses that information to grow the department/company. I work for a magazine company known as Conde Nast Publications Inc. Condé Nast Publications, owned by Advance Publications, is a leading consumer magazine publisher. Condé Nast Publications publishes one of the most recognizable magazine portfolios in the industry. Condé Nast is the largest privately owned publisher in the world. The company publishes fashion magazines Allure and Vogue, and other newsstand favorites like Glamour, GQ, The New Yorker and Vanity Fair. It hosts Web sites through CondeNet unit, including Epicurious and Concierge. To be the top leading publishing company, Conde Nast has to keep up with modern times in order to keep their customers happy and give their competitors a run for their money. The leadership strategy has been great for quite some time now as far as learning continuously, leading change, motivating people to change, creating advantage, and harmonizing multiple changes. Some of the changes that we have done involves the presentation of our magazines as far as ad pages is concern, also adding websites for most of our magazines so that our customers can have access to reading on the laptops or desktops, and not to mention that we are not only nationwide with our magazines but also international advertised, which most of our competitors cannot do. Even though Conde Nast is the leading publishing company in nationwide, it has been really affected by the turbulent economy condition today. As the economy has fallen apart over the past eighteen months, first gradually then all at once, Condé Nast's biggest problem has been the newspaper empire that Samuel Newhouse created. Last year, the Newhouses' Newark Star- Ledger, one of their biggest papers, may have lost as much as $40 million. No one in the family believes the newspaper business is coming back. The family's cable business, Bright House Networks, with enterprises in several states, still tosses off tens if not hundreds of millions of dollars, keeping the Advance, which houses all of the family's businesses, afloat, and the company is virtually debt-free; the family has always hated to borrow. But resources are now spread thinner. The company no longer has the luxury of pumping cash into a struggling title. Without profit, there's no "distributable cash" for the family. So far this year, Condé Nast is in the red, though the closings and cuts should drive money to the bottom line. The belief around the building is that next year, if the economy recovers, Condé Nast will again turn profitable. This leads to a lot of change in the organization which most employees were not prepared for.leads to a lot of change in the organization which most employees were not prepared for....
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This note was uploaded on 11/15/2011 for the course SCIENCE 207 taught by Professor Reale during the Fall '11 term at Ashford University.

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Transformational - Transformational Strategy Kenroy Fletcher MGT 435 Margaret Browne July 6 2009 Transformational Strategy A strong leader is

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