Introduction
Success of any business depends on the suitability of its organization structure, effectiveness of its leadership and management as well as its marketing mix. In that respect, this report identity’s Time Warner Inc. as a leading business in the entertainment and media industry for analysis on leadership, management, organization structure and marketing mix with suitable recommendations for each aspect being made and the implementation plan provided as well as the rationale for each.
Body
- Leadership
The effectiveness of an organization’s leadership is a greater determiner of its success. As a way through which those in charge influence and change peoples’ minds to move the organization forward for achievement of identified goals, effective leadership
- Should be able to propose and introduce new and updated paradigms into the business when old ones have lost their effectiveness.
- Should be able to transform the organization’s potential to reality in terms of business performance. (Kouzen & Posnor, 2007)
In its management, Time Warner Inc. has a board which has three committees including; Human development and compensation committee, Finance and Audit Committee, Governance and nominating committee all of which are comprised of independent directors. In addition the organization’s structure has a lead independent director and another serving as the Chairman and CEO. This provides a more centr4alized and autocratic leadership where decisions are mainly made by the top level leadership. (Time Warner Inc., 2013b)
In this respect, Time Warner Inc. should change its autocratic leadership to participative leadership with more decentralized decision making. (Time Warner Inc., 2013a)
- Plan
Changing the autocratic leadership should involve and be done by
- Leaders involving others in decision making including the peers, subordinates, stakeholders and superiors.
- Most participation in activity being encouraged within immediate teams.
- Rationale
Times Warner change from the current autocratic to participative leadership with more decentralized decision making will have benefits including.
- Employees being less competitive amongst themselves and rather become collaborative towards attainment of joint goals
- Involving employees will make them more committed to the organization’s actions.
- Employee’s involvement in decision making will have the benefit of skills and knowledge sharing.
- Commitment to decisions made will be increased as a result of the social commitment that is achieved when decisions are made together.
Application of participative leadership with more decentralized decision making would ensure that leadership is at all levels where talent, creativity and the commitment to excellence is enhanced. It will also help the organization make suitable decisions and move quickly enhancing change as well as utilizing opportunities. (Kouzen & Posnor, 2007)
- Management
Management engages in leadership, problem solving, targets setting and team building as well as attending to emergencies hence requiring effectiveness. This should be replicated in all management functions of directing, organizing, controlling, staffing and planning.
In this respect, the organization should seek to enhance the management functions of directing and organizing. (Kouzen & Posnor, 2007)
- Plan
In respect to the current management systems in Times Warner Inc, the following should be addressed in various management functions.
Directing function should be improved by
- Developing more effective motivation programs that would enhance employee’s performance.
- Performance appraisal being effectively used to enhance employees’ performance through development of appropriate strategies to deal with challenges they face in their operations as well as addressing the different needs for different employees.
- Ensuring that conflict resolution is effective in order to deal with issues facing employees as the organization heavily depends on manpower in producing and delivering its services.
- Enhanced communication to feature more flow of information both ways from the seniors as well as the subordinates.
- Ensuring discipline which is crucial in managing operations in the organization that require more interactions and collaboration being in entertainment and media industry. This would safeguard the brands’ image hence develop a brands that customers would want to identify with. (Kotler & Philip, 2006)
For the organizing function, the organization should seek to enhance
- Authority delegation in order to enhance quick decision making as well as create a sense of participation and more commitment to the decisions made.
- More coordination between the various operation departments within the organization in order to ensure harmony in products and service delivery. (Kouzen & Posnor, 2007)
- Rationale
In this respect, the management should ensure that information does not only flow from top downwards but also from the bottom upwards to enhance decision making which is guided by the real situation on the ground. This would also enhance participation and belonging with employees feeling that their contribution is valuable to the organization. In addition, improving the various management functions would enhance effectiveness in operations and the business performance. (Kouzen & Posnor, 2007)
- Organization structure
- Plan
As a global leader in the global entertainment and media industry, Time Warner Inc. has operations ranging from publishing, film, Television entertainment and Television networks. To effectively carry out its functions in these operations, the organization is divided into three divisions; Home box office, Turner broadcasting and Warner Bros. However, the Vertical organization structure that the organization has, limits its ability to enhance participation and collaboration between the departments and divisions. In this respect and in line with the recommended delegation of authority by the management and a participative leadership, the organization should embrace a horizontal organization structure that favors decentralization. (Kouzen & Posnor, 2007)
- Rationale
The more decentralized organization structure would have benefits including
- Development of professional managers as the middle level managers gets an opportunity to participate in and exercise authority in their operations.
- Managers being able to exercise autonomy in decision making.
The organization’s adoption of a horizontal organization structure would have benefits including
- Quick decision making which would be suitable in addressing market changes and utilization of opportunities.
- Sharing of knowledge and skills among divisions.
- Enhance participation by all decisions and team members. (Kouzen & Posnor, 2007)
- Product, place and price
Success of any business’ marketing depends on the effectiveness of its strategies in relation to products, distribution and pricing. In this respect, Time Warner should adopt a more effective marketing mix that should drive growth through offering suitable products at the right price and delivering them at the right place. Some of the challenges that face the current marketing mix include focus on premium products leaving out low income end customers, distribution that is highly dependent on the organization’s own channels as well as pricing that mainly targets high income customers. In this respect, development of low cost products, low cost pricing as well as application of other distribution channels are recommended for effective marketing. (Kotler & Philip, 2006)
- Plan
Product
Price
Times Warner should develop low cost products priced to reflect the customer needs and purchasing power of the low income end market segment.
Place
In order to drive growth, the organization should partner with leading marketers in the industry and nor solely rely on its channels for distributing its products. The organization should also seek to deliver to its customers suitably targeted products through every device taking advantage of the advancing technology that avails more compatible devices. (Kotler & Philip, 2006)
- Rationale
- Promotion
In order to enhance its marketing, Time Warner should seek to increase promotion of its products through application of various strategies including suitable and targeted packaging, limited product’s samples as well as increase use of avenues like social media for its advertising. This would deviate from the current promotion that heavily relies on advertising through the traditional media and whose packaging does not fully reflect the changing customer needs. (Kotler & Philip, 2006)
- Plan
The organization would benefit more and increase awareness of its products by apply strategies including
- Increased use of internet and social media to advertise and reach target customers
- Adopt more effective means of reaching customers through development and use of relevant applications that would appeal to the young generation that is technologically savvy.
- Packaging the products to appeal to the target customers and enhance brands image in respect to customer’s change to reflect brand image that they would want to identify with. (Engel, Kollat & Roger, 1968)
Through offering limited access to their programs through online platforms, the business would be providing a samples to customers and increasing their awareness of the products available as well as their quality and features. (Kotler & Philip, 2006)
- Rationale
With use of social media as an advertising avenue, the business would reach more customers especially the young people who would be more attracted to their online based programs and products and who would be suitable targets given their ability to use online platforms. The application of targeted packaging would create a brand image that customers can identify with hence increasing customer loyalty. On the other hand, offering limited free access of programs and products would offer a means of communication availability and suitability of new products to potential customers hence increasing the customer base. (Kotler & Philip, 2006)
Conclusion
In conclusion, Time Warner can increase its efficiency and performance by addressing various management aspects including adoption of participative leadership, improving management functions and adoption of horizontal and a more decentralized organization structure. In addition, addressing the marketing mix through appropriate market mix strategies would be suitable for achievement of marketing goals. This includes developing low cost products, low cost pricing and engaging industry marketers in its distribution. Finally, promotion can be improved through application of modern means of advertising, samples and suitable targeted packaging.
References
Engel, J. F., Kollat, D. T. & Roger D. B. (1968). Consumer Behavior, New
York: Rinehart and Winston.
Kassarjian, H. (1971). Personality and Consumer Behavior, Journal of Marketing Research,
8, 409-418.
Kotler, P. & Keller, K. (2006). (12th Ed.). Marketing Management. New Jersey: Pearson
Prentice Hall.
Kouzen, J. & Posner, B. (2007) (4 Ed.). The leadership challenge. New York: Jossy-Boss.
Time Warner Inc. (2013a). About us: Overview. Retrieved from
http://www.timewarner.com/our-company/about-us/
Time Warner Inc. (2013b). Board Leadership and Committee Structure. Retrieved from
http://www.timewarner.com/our-company/corporate-governance/board-leadership-
and-committee-structure/
