Problem Solution: Harrison-Keyes Inc
Problem Solution: Harrison-Keyes Inc.
Harrison-Keyes is a global company operating in the publishing business. In existence since 1899, Harrison-Keyes gained its reputation by publishing works by well-known authors. As the industry changed, Harrison-Keyes adapted. By the 1950s Harrison-Keyes became famous for publishing business, scientific and technical information (University of Phoenix, 2007 Week 1 Scenario). Although Harrison-Keyes has been prosperous, Harrison-Keyes is currently struggling to generate previous revenue levels. Harrison-Keyes is not alone. Many organizations within the industry are competing with low-cost retailers who offer generous return policies. Additionally, distribution channels are consolidating resources. As a result, Harrison-Keyes hired a new CEO to help implement a new organizational strategy. As part of the organizational strategy, the new CEO is expected to identify a solution to increase revenue and remain competitive in the market. Additionally, the new CEO will identify and address issues, challenges and opportunities facing Harrison-Keyes through the implementation of the new strategy.
Describe the Situation
Issue and Opportunity Identification
Harrison-Keyes is facing industry changes marked with “consolidation and competition leading to declining sales, market share, and profitability” (University of Phoenix, 2007, E-Publishing Strategic Plan Briefing, slide 2). In the effort to combat market changes, the board at Harrison-Keyes decided the organization needs to meet industry standards and move in a new strategic direction. While the new strategic direction has never been clearly defined, the new strategic direction suggested is an initiative identified as e-Publishing. In order to move Harrison-Keyes in the new direction, the board hired Meg McGill as CEO. McGill has expressed interest in creating an e-Publishing divisional unit. McGill comes from a high-tech background and is completely...
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