Toyota's strategies for newspapers
Here a few of Newspaper Next’s choices are selected. Not surprisingly, many newspapers have already started to implement analogous strategies. Simply replace the word ‘Toyota’ by ‘successful newspapers’:
“Toyota sees itself as a portfolio company, and it understands the “long tail” concept.”
Many papers already do this, diversifying into media companies and offering niche products.
“Toyota keeps a relentless focus on customer jobs to be done.”
“Toyota invests in customer feedback loops.”
This is one thing newspapers lacked for a long time, and are just starting to implement. Use your reader’s feedback, read comments, ask the reader’s editor to regularly report.
“Toyota views its customers through life circumstances, not demographics.”
Though this may be hard to enact in practice, perhaps newspapers should stop viewing their readership simply in terms of age, educational bracket or type of employment. Think in terms of a reader’s actual interests, and where to find that reader.
“Toyota keeps one eye on the future outside its own company.”
Usually newspapers are good at doing this – it’s their job – but do remember to look at innovations and strategies outside of your paper, and even outside the newspaper industry.
“Toyota understands the importance of process efficiency.”
“Toyota makes problem identification an imperative.”
Again, a newspaper’s editorial process has often been adjusted and perfected to be of very high fluidity. Yet there always is an element in the process, from the news-gathering to actual publication, that can be improved upon. One person’s better work can improve a newspaper.
“Toyota makes problem identification an imperative.”
Don’t punish those who make (minor) mistakes. And reward those who solve problems.
“Toyota has one clear, consistent set of values, relentlessly communicated.”
Where are the good old days when a newspaper’s mission statement was hung on the wall and hammered into staffers’ minds? Though it may sound useless, a simple and shared goal boosts a team cohesion and improves efficiency, because everyone pursues a well-defined objective.
Source: Newspaper Next
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