Problem Solution: Harrison-Keyes Inc
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MBA/590 Strategic Implementation and Alignment
Problem Solution: Harrison-Keyes Inc.
Harrison-Keyes Inc., a leading publisher of business, scientific and technical information, is experiencing declines in profits as it struggle to compete with low-cost retailers. In order to gain market identity and leadership in publishing Harrison-Keyes started an e-publishing initiative. The vision was good but it strategy was not implemented properly and new problems have started developing. The critical success factors were forgotten during strategy implementation. This paper demonstrates how with proper implementation planning and execution along with the use of best practices can make Harrison-Keyes a leader in publishing business.
Describe the Situation
Issue and Opportunity Identification
Harrison-Keyes is facing increasing industry consolidation and competition leading to decline in sales, market-share and profit. Harrison-Keyes has taken up an e-publishing initiative without its buyout from all its stakeholders. Strategies which does not have buyout form all important stakeholders are bound to run into turmoil. E-publishing initiative is a good opportunity but has not been handled properly and may cause further damage to the company. One of Harrison-Keys’ best author, Will Harper, Pulitzer Prize winner, is looking to move to another publishing company and this may lead the ways for other authors. Implementation is key factor for success for any strategy. To successfully implement a strategy one needs people with right skills and best practices as guidelines. Harrison-Keyes lacked both. There is also lack of communication and synergy among departments and authors. Stakeholders are not happy with the performance of the company right now.
Stakeholder Perspectives/Ethical Dilemmas
Harrison-Keyes would not have faced any issues from authors if their concerns about piracy was handled and communicated properly. Piracy brings in loss to the publishers and the authors in terms of reduced sales and non-receipt of royalty respectively. This fact should have been communicated to the authors. When responsibilities are delegated, accountability should be established and communicated. Outsourcing is a very difficult task that needs responsibility and accountability clearly communicated else it heightens the frustration and lowers the morale of employees who have been affected by outsourcing. Partnership with employees and authors would have been the ideal situation to be in for Harrison-Keyes to gain their support and cooperation.
Frame the “Right” Problem
Harrison-Keyes will gain its leadership and increase market share in publishing business by packaging innovative and attractive information for its reader in both paper and electronic format by end of 2007.
Describe the “End-State” Vision
Harrison-Keyes will achieve its leadership position in publishing industry with launch of its 21st century initiative that will a) continue and expand current print business, b) break the communication barrier among departments and authors, c) create partnership with employees and authors, d) dual publishing of 3000 selected titles, e) implementing on demand publishing to reduce inventory cost, and f) selling books online.
Identify the Alternatives and Benchmarking Validation
Improving communication
It is a well known fact that communication is the key to success but still in many companies, it not properly implemented or followed. As in many companies, e-mail overload at BT has been a chronic and apparently insuperable cause of employee dissatisfaction year on year, and despite readily available guidelines about e-mail etiquette posted on the BT intranet, the volume has not declined (Smithers, 2006). Effective communication is not only important for employee satisfaction but for satisfaction all stakeholders and the image of Harrison-Keyes. With effective coaching program British Telecom were able to motivate their sales teams to produce more effective business communications, saving time and increasing profits in the process. Dalgleish and Cooper states “Kloman (2000) identified the issue of improving communication with stakeholder groups, including employees, customers, suppliers, lenders, investors, regulators, communities and the public at large, as being the greatest area of focus for an organization when implementing a risk management framework.” Harrison-Keyes needs to communicate their strategy to the authors and employees to get their buy-in, support and cooperation in implementation of the new e-publishing and e-commerce strategy. It is