FO 2012: Industries in Transition (C. Holbrook)

Industries in TransitionThe Journey and What to expectApril 2012craig.holbrook@centricconsulting.com(617) 320-6961NOTICE: Proprietary and ConfidentialThis material is proprietary to Centric Consulting, LLC. It contains trade secrets and information which is solely the property of Centric Consulting, LLC. Thismaterial is solely for the Client’s internal use. This material shall not be used, reproduced, copied, disclosed, transmitted, in whole or in part, without the expressconsent of Centric Consulting, LLC.© 2011 Centric Consulting, LLC. All rights reserved

Introductory Statements Changes are occurringin the Academic Publishing Industry If we prepare our organizationsand lead the team with conviction, we will come out just fine

Historical ContextThe Record Industry:

An Emotional Response to Change Active Anger Emotional Response Acceptance Stability Bargaining Denial Testing Time Depression ImmobilizationPassive

Three Stages of Transformation1. Trigger – causing need for change • New Technology • Change in what customers need or want • Change in Regulation2. Experimentation • Partnering - promotes information sharing • Imitations and Fads are prevalent • In large industries, more investment fuels this3. Convergence • Most experiments fail • Handful of product succeed => “Dominant Design • Half of the participants survive

Aspects of your changed business

Who are the Characters?• Champions – Have authority, willing to lead• Change Agents –informal leaders willing to engage• Survivors/Adaptors – “I will do what it takes”• Rejecters – Covert resistance and very disruptive

What to Expect• Unclear future – It will not become very clear• Experimentation – with controlled cost, short cycles• Partnerships and Alliances –information exchanges• Organization • The book assembly process will provide similar value • The ‘disassembly’ processes will provide more value• Personnel - will become even more valuable

The Take AwayIn order to succeed and to survive personally:-Make sure your Strategy is built and communicated-Evaluate your Organization and identify Personnel-Experimentation, Partnerships, and Budgets

References• “The U.S. Newspaper Industry in Transition”, Suzanne M. Kirchhoff, Analyst in Industrial Organization and Business, July 8, 2009• “Industry Transformation”, Professors Michael E. Porter and Jan W. Rivkin, Harvard Business School Review, July 2000• “Appetite for Self-Destruction, the Spectacular Crash of the Record Industry in the Digital Age”, Steve Knopper, 2009• Organizational Change Management References: • “HBRs 10 Must Reads on Change Management” Harvard Business Review, 2011 • “The Five Dysfunctions of a Team: A Leadership Fable” , Patrick Lencioni 2002 • “Our Iceberg is Melting”, Professor John Cotter and Holger Rathgeber, St Martins Press, 2005

FO 2012: Industries in Transition (C. Holbrook)

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