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2017 | Book

Value-Oriented Media Management: What, Why, and What for? An Introduction to This Volume Read chapter Read first chapter

Value-Oriented Media Management

Decision Making Between Profit and Responsibility

Editors: Klaus-Dieter Altmeppen, C. Ann Hollifield, Joost van Loon

Publisher: Springer International Publishing

Book Series : Media Business and Innovation

Part of: Springer Professional "Wirtschaft+Technik" , Springer Professional "Wirtschaft"

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About this book

In the light of a rapidly changing media industry with new technologies, actors and advertising models, and the critical role of media in society, this volume highlights the meaning of different values in media companies and media managers’ decisions. It discusses how economic as well as societal values can be equally integrated in media management processes and how such values affect the internal as well as external environment of media companies. The contributions analyze various issues in media management, such as the relationship between quality and audience demand, the role of branding in building values, changes in the value chain, and the impact of deregulation. Further important topics include hypercompetition, mediatization, challenges for media managers and the meaning of corporate social responsibility.

Table of Contents

Frontmatter
Value-Oriented Media Management: What, Why, and What for? An Introduction to This Volume
Abstract
This chapter gives an introduction to the topic of value-oriented media management and introduces the contributions to this book.
Klaus-Dieter Altmeppen, C. Ann Hollifield, Joost van Loon

Theories, Concepts, and Findings in Value-Oriented Media Management

Frontmatter
Examining Media Management and Performance: A Taxonomy for Initiating a Research Agenda
Abstract
This chapter examines the topic of media management and performance. Working from a grounded theory perspective, we review the literature on the subject and present some brief qualitative data drawn from a purposive sample of professionals who were asked for their opinions on how to assess managerial performance. The research suggests performance is best assessed using a combination of financial and nonfinancial variables across the different stages of management. The result is the preparation of an initial taxonomy to assess management performance in media organizations. In addition to establishing the taxonomy, the chapter concludes with a set of propositions and suggestions for initiating a research agenda.
Alan B. Albarran, Terry Moellinger
Business Models in Media Markets
Abstract
Media markets are subjects to continuous change. The highly innovative era of information and communication technology results in an increased competition due to new market entrants, a change in consumer behavior, and the emergence of new media formats. These developments cause media companies’ need for stabile integrated business models. This contribution explains the business model concept, before a segmentation of media markets is performed. The main section portrays selected business models in primarily non-electronic media markets as well as business models in primarily electronic media markets. Additionally, the business model development process is an integral part of this contribution.
Bernd W. Wirtz, Marc Elsäßer
Moving Media and Journalism Forward from Private to Public Value
Abstract
The currently ongoing fundamental restructuring of public communication in general and mass media, and journalism, in particular, cannot be understood and explained by economic parameters alone. This chapter suggests applying public value theory to media and journalism change and recommends critically analyzing at least two encounters: (1) journalism, and (2) commercial media operations. Public value thinking negotiates neo-liberal market orientation and facilitates both managerial and policy adjustments by focusing on public, rather than private, benefit.
Josef Trappel
Managing Media and Prioritising Societal Values: Market and Non-Market Solutions
Abstract
Many media organisations are businesses driven by commercial motives. But the activities of media have both economic and socio-cultural ramifications. While the industry is made up of both non-market participants (such as the BBC) and commercial firms, questions about ethics and values apply to both constituencies because, whether media organisations like it or not, the ability to communicate with audiences, which is their raison d’être, is inseparable from concomitant welfare implications for society.
Not surprisingly then, media organisations are subject to various forms of intervention on the part of state authorities. Such interventions reflect not only the usual sorts of economic and industrial policy concerns such as growth and efficiency, but also a wide range of special considerations stemming specifically from the unique and important ways in which mass communications can affect society. This chapter analyses how conflict may arise between the objectives of profit maximization, which naturally shape the activities of many media firms, and promotion of wider societal aspirations and values. It also examines some of the main solutions and measures through which public interest priorities can be brought into alignment with self-interested corporate goals.
Gillian Doyle
Media Markets, Value and the Unique: Consequences and Implications for Media Management from Karpik’s New Economics Sociology Perspective
Abstract
Taking recent changes in media markets seriously, we suggest a deeper reflection of the term “media market” in close connection to the term “value.” Reflecting common assumptions of media markets in the media management discourse, we open the perspective to economic sociology, since this perspective differs from economic assumptions in various manners. Based on these general reflections that assume markets, value and economy as inherently social phenomena, we focus on Karpik (Valuing the unique. Princeton, NJ: Princeton University Press; 2010), who introduced a theoretical framework of economics of singularities. We apply this approach specifically to media markets.
Andreas Will, Britta Gossel

Cultures and Organizations: Structures, Actions and Values in Media Companies

Frontmatter
Values as Input and Values as Output: The True Challenge for Media Companies
Abstract
Value creation and value chain are important concepts of modern management theory. Values also play an important role for media companies, both as economic measures and as part of organizational culture. This paper develops along the three effects of media (creating reality, markets, values) a complex Input-Output-Value-Framework for media companies: As a specific value chain it connects these three effects, using economic as well as cultural values both as drivers and restraints. The framework explains success of media companies. It also raises several questions for further research, taking into account the specifics of the media industry.
Christian Scholz
Creating Innovative News: The Values of Future Newsroom Managers
Abstract
The values of future newsroom managers are going to change. This paper explores potential approaches that editors might consider. There’s, firstly, a need for a new framework that newspaper editors and station managers can apply to decision-making as well as for a process-oriented supervisory practice. Rethinking the news value chain leads, secondly, to partly re-examining the newsroom and wholly deconstructing the reporting process. A company’s ecosystem location also indirectly shapes how it creates value. Therefore editors must, thirdly, change and re-standardize journalism skills in certain key areas. For this reason they need a new strategy, a “maestro” non-strategy.
George Sylvie
The Economic Value of Creativity: How Much, for Whom, and What for?
Abstract
The following chapter deals with the value od creativity in media management. The first part is a literature-based reflection on different perspectives on the value of creativity. While creativity generally is considered a core value of media products, I will argue that not all aspects of creativity are equally economically valuable and, thus, it is not in the best interest of media managers to maximize creative value. I will then change perspectives and address the question of the value of creativity for the individual media worker. The second part of this chapter combines the perspectives of the predominantly economically oriented media managers with that of the predominantly culturally oriented creators. I will empirically show that salary and financial concerns do not have an impact on the creative output of writers. This suggests that creative value cannot easily be given a monetary value.
M. Bjørn von Rimscha
German Media Managers: A Survey on Their Origins, Careers, and Value Orientation
Abstract
Media management changed in Germany throughout the last years: There are no longer the great publishers but rather media managers who manage a media company as any commercial organization. This change has brought up questions about the role of values in media companies. What values exist and do they shift into others with the change of the management? Do media and editorial office managers nowadays have to have special knowledge for their job? This contribution discusses these questions of formation and of value-orientation of German media and editorial office managers founded on data collected about their career paths and their origins in a representative online survey.
Regina Greck, Annika Franzetti, Klaus-Dieter Altmeppen

Corporate Governance and Corporate Social Responsibility: The Role of Management and Leadership for Value Orientation and Implementation

Frontmatter
Corporate Social Responsibility in the Media Industry: Setting the Benchmark or Falling Behind?
Abstract
The chapter discusses theoretically and empirically to what extent CSR is on the agenda of the management of the big European media outlets. While internal CSR instruments are used by most big European media companies, the media industry as a whole obviously does not set the benchmark for competing with integrity. The debate on CSR seems to be limited to criticizing others and lacks reflection within the media industry in general and within media corporations in particular. Furthermore, media companies in Europe don’t yet fully communicate their CSR efforts and seem to underestimate the potential of CSR for its business.
Matthias Karmasin, Klaus Bichler
Finding Common Ground: CSR and Media Responsibility
Abstract
Media companies produce and distribute products intended to inform and entertain the population. This entails a set of specific duties that may be termed Media Responsibility (MR). As a consequence, for a long time media companies remained relatively untroubled by calls for Corporate Social Responsibility (CSR). This has changed due to structural changes in both society and media, with both kinds of responsibility of media companies now being closely examined. Our research question is how do media companies use their MR and CSR strategically? In this paper, we develop a social-theoretical framework that brings together the findings of organizational communications research, CSR research and MR research in a comprehensive manner. We use Giddens’ theories of structuration and late modernity to find common ground. Referring to the concepts of the duality of structure and action as well as the double hermeneutic, we abandon the pervasive illusion of organizational agency and define MR and CSR as ascriptions that take place between human beings. On the basis of our framework, we conclude that it is not media companies themselves, but authorized persons (managers or PR experts) who perform strategic MR and CSR ascriptions in the name of their own organization or its units in order to reproduce or modify social structures in the interest of the organization or its units. The theoretical framework, along with the definitions developed, allows the empirical analysis of media companies’ strategic approach to MR and CSR.
Philipp Bachmann, Diana Ingenhoff
Managing Values: Analyzing Corporate Social Responsibility in Media Companies from a Structuration Theory Perspective
Abstract
Up to now the research in the field of corporate social responsibility in media companies was strongly focused on the analysis of the communication about CSR-activities by media companies themselves or remained on a normative level. This paper presents an approach how Giddens’ structuration theory can be used to step beyond that. We developed a framework to examine empirically the existence of rules and resources within media companies to realize and manage CSR. Thus, it helps to determine if they only pay lip-service. Further, the abstract categories make it possible to apply the framework to other industries and enable comparative research.
Isabel Bracker, Stephanie Schuhknecht, Klaus-Dieter Altmeppen
The Perspective of Value Orientation for the Shareholder and the Stakeholder: The Case of Corporate Governance in Media Companies
Abstract
The aim of this paper is to elaborate the conditions and constraints for the enabling and implementing of a value orientation in media companies through the figure of Corporate Governance literacy. What are the reasons impeding or promoting a value orientation in media companies? This study collects research from scholars dedicated to the field of Corporate Governance from a stakeholders and shareholders perspective. The method used is exploratory. The main factors that contribute to value orientation are maximization of the market value of the company and creation of corporate strategy; transparency of the information for the internal and external publics and the access to financial resources. The constraints are the kind of leadership of the CEO, the internal culture of the company and the pressure of some of the shareholders who want profits in the short term. Finally, confidence in the internal and external publics (shareholders. stakeholders, and market), is the key if the company uses the Corporate Governance figure in order to generate value orientation.
María Elena Gutiérrez-Rentería
Media Management in the Digital Age: Toward a Practical Wisdom-Based Approach
Abstract
In this article we consider how the virtue of practical wisdom (prudence) rooted in the Aristotelian philosophy helps to develop a value-based media management in today’s age of digitalization. We argue that the integrative and the normative dimension of practical wisdom contribute to a wisdom-based, multi-dimensional perspective of media management which might counteract the information-based, one-dimensional perspective of a digital rationality. We proceed, first, by identifying the main challenges for value-based media management in the age of digitalization. Second, we introduce the concept of practical wisdom recently rediscovered and adapted in economics and explore its transformative potential for management practice. Finally, we conclude by suggesting the scope of possible applications.
André Habisch, Claudius Bachmann
The Diffusion of Authority: A Case Study Analysis of News Corporation’s News of the World Newspaper
Abstract
The purpose of this case study analysis is to understand the confluence of factors that led to business misconduct at News Corporation’s News of the World newspaper. Special attention is given to three contributing factors: (1) organizational culture, (2) management decision-making and high-risk strategy, and (3) failures in corporate governance. A basic argument is that such glaring failures were directly aided by a diffusion of authority where neither the company’s executive leadership nor its corporate board of directors were willing to acknowledge or take responsibility for the actions of the newspaper’s management and professional writing staff. There was an information gap that allowed poor strategic decision-making to occur. The closure of News of the World brought an end to a 168 year old highly successful English-language newspaper.
Richard A. Gershon, Abubakar Alhassan

Trust, Branding, Digitalization: Value Drivers

Frontmatter
Media Branding: A Strategy to Align Values to Media Management?
Abstract
Media organizations are dealing with various internal and external value sets such as individual values of media professionals, journalistic values as professional standards, corporate values, but also monetary and societal values. Since media brands are not only based on a value set, but are established in co-orientation and co-creation processes between the media organization and its different stakeholders, the value sets of the different stakeholders are incorporated and influence decision-making processes. Thus, in aligning the different value sets and value-based expectations, we argue that branding is the appropriate strategy for media management to achieve market success as well as legitimacy.
Gabriele Siegert, Stefanie A. Hangartner
The Role of Trust in Value Networks for Journalism in a Convergent Media Environment
Abstract
The article discusses the role of trust in news markets in a convergent media environment and describes the ongoing discussions about trust in journalism as an indicator for change in the institutional environment of news companies. It gives an overview of value creation in the news industry to show how media companies use journalism as a resource in their business models and explains the particular areas of value networks in which trusts comes into play. It discusses the role of institutional arrangements as resources for news companies and outlines different perspectives on trust and to which extend they are useful describing the role of trust in news value networks. This is necessary to explain, why “doing trust” is a successful strategy to bridge information gaps between news organizations and their audiences in convergent news markets. Finally it argues, that trust can be seen as a sufficient mode of coordination within news production networks. It points out that professional actors in journalism should use the reflexive character of trust to maintain their value networks.
Lars Rinsdorf
Media-Related Value Generation: New Paradigms on the Horizon? Or—What a Wonderful Morning for Prof. Beale
Abstract
The borders between traditional media, hybrid media and transaction media are blurring. Media enterprises manage online shopping instead of producing independent journalism. The article presents an ironic picture of where our media system and usage is heading.
Frank Habann
Backmatter
Metadata
Title
Value-Oriented Media Management
Editors
Klaus-Dieter Altmeppen
C. Ann Hollifield
Joost van Loon
Copyright Year
2017
Electronic ISBN
978-3-319-51008-8
Print ISBN
978-3-319-51006-4
DOI
https://doi.org/10.1007/978-3-319-51008-8