An organization success significantly lies in the management strategies. This is an implication that effective strategies will aid an organization towards success (Durmaz & Dusun, 2016). Active strategies should therefore be embedded in proficient goal setting framework to influence any targeted results. To understand the impact of effective goal setting framework, this essay will utilize Los Angeles Tribune struggles with high cost of distribution, low circulation of revenue and reduced advertising revenue and offer possible framework to redeem the conditions. In each goal setting, it will review strategies, tactics, activities, measures of success and goal measurement.
Cost of Distribution
The recent high cost of distribution has negatively impacted on the sales of Los Angeles Tribune. Therefore, the main goal under cost of distribution is to ensure that, changing transportation means provides the company with optional resources to leverage compelling levels of distribution. After the adoption of cheap transport, the company should be able to quantify the sales with the profit (Tapera, 2014). This implies that the goal will significantly work towards reducing the cost of distribution without adversely affecting the level of sales.
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Strategies
The strategies to mitigate the rising cost of distribution includes, changing transport means by adopting road transport which is cheaper compared to air. This strategy will ensure that the recent effects of distribution costs are combatted, and in return propel Los Angeles Tribune to compete with other newspaper publishers.
Tactics
To achieve the transport strategy, adoption of road transportation will be effective. This will ensure that the company incurs less cost as compared to the air transport that was being used before. This is because Los Angeles Tribune operates within Los Angeles, an indication that road transport will be efficient in reaching every part of the city.
Activities
To realize road transportation strategy, there needs to be an absolute follow up. This is an implication that that there are inner settings that will undergo changes. The distribution department has to be cautious to ensure that the adopted changes do not in anyway alter the intended objectives.
Measures of Success
Every setting should lead to an ideal and positive result. The success units will include consumers’ satisfaction and the company’s financial position. This means that, the financial viability of the company will be the greatest measure of the implemented strategies.
Goal Measurement
The goal measurement of the new implementations will be based on the company’s financial stability accruing from the sales of the newspapers. This translates to the continuous consumer preference for Los Angeles Tribune in the wake of implemented changes.
Circulation Revenue
The current state of revenue circulation calls for actual measures that will aid the improvement strategies. The main goal under this strategy is to ensure that there is increased total of sales in order to increase the revenue circulation. Considering that revenue circulation has been impacted by a small market, the measures include market strategy.
Strategies
Reduced revenue circulation has been partially facilitated by inability to explore new markets. To achieve this, there is need to expand distribution channels. This is a strategy that will involve, opening up of merchandise for easy access by other third-party dealers (Yang, 2012). There is also need to increase the supply to the already explored market, which has been experiencing shortages as a result of high distribution cost.
Tactics
Reaching a wider market will be effective if there are proficient tactics. One of the tactics to increase sales is to increase the market cover. Considering that Los Angeles Tribune is sold only around the city and major joints, there is the need to explore the outskirts of the city as potential markets. This will be ideal since it will reach markets that are yet to be discovered by other competitors.
Activities
Exploring new markets through increasing distribution channels is a strategy that needs a framework before executing. Therefore, careful planning and monitoring will be adopted. These crucial aspects will facilitate a successful revenue circulation through market expansion. On the other hand, it will forego the boundaries that were yet to be identified before the current crisis.
Measures of Success
Tracking of the new strategy will be essential in order to fully understand its effectiveness towards the intended purpose. One of the paradigms to measure the success of this strategy will be, comparing the sales thereafter with the past sales. An increase in sales will automatically result to increased revenue circulation, an impact that will be considered as positive.
Goal Measurement
There is need to monitor the whole revenue system in order to identify if the success is aligned with the goal. This is an indication that the goal measurement will be predicted upon the whole revenue increment, in comparison with the initial expectation. Positive impact on revenue circulation will mean that the goal has been attained.
Advertising Revenue
Los Angeles Tribune significantly depends on advertising revenue as part of its finance booster. This implies that, the decrease in advertising have negatively affected its financial status. The main goal of these strategies is to ensure that opportunities and contents are utilized as advertising revenue avenues.
Strategy
One of the strategic measures includes exploring new opportunities presented by the presence of digital platforms. Generating articles that appeal to consumers should also be adopted. These two significant strategies, will positively promote the advertising revenue that is facing decrease.
Tactics
The evolution in technology presents Los Angeles Tribune with an opportunity to go digital. This can be archived through web marketing that will see the company email potential clients of offers and new contents prior to publication (Arin, 2018). Investing in content will also ensure that clients are convinced to advertise with Los Angeles Tribune. These tactics will significantly boost the advertising revenue.
Activities
There is need to change the traditional way of advertising. One of the considerable changes that should be adopted is the research on the ads contents that consumers want to read. This can be attained by collecting reviews from clients and initiating changes on the next publications.
Measures of Success
The success of advertising revenue can be realized if there is an increase in bookings for advertising spaces. This will mean that if consumers scramble for advertising spaces, advertising revenues will increase a factor that will be considered success.
Goal Measurement
The goal measurement for advertising revenue will be the overall increase in clients who want to advertise. In regards to set out goals that aimed at achieving a total increase in advertising revenue, the goal measurement will be determined by the number of improved clients.
Conclusion
Conclusively, Los Angeles Tribune has a chance to redeem its current status. There is need to adopt the recommended strategies, to regain the normal distribution, circulation and advertising revenues. This can be achieved through effective tactics that fill the gaps that have led to the current situation. Tracking of each department activity will also aid the reforms that seek to improve the company. Monitoring of success and goal measurement will be ideal in ensuring that the intended goals are realized.
References
Arin, P. (2018, Feb 12). Increase revenue and circulation at your community newspaper. adperfect . Retrieved from https://www.adperfect.com/increase-circulation-and-revenue-at-your-community-newspaper/.
Durmaz, Y., & Dusun, D. Z. (2016). Importance of strategic management in business. Expert Journal of Business and Management, 4 (1), 38-45.
Tapera, J. (2014). The Importance of strategic management to business organizations. The International Journals, 3 (11), 122-123.
Yang, N. (2012, July 17). Partners in print: How newspapers and retailers form successful relationships. EDITOR & PUBLISHER . Retrieved from https://www.editorandpublisher.com/feature/partners-in-print-how-newspapers-and-retailers-form-successful-relationships/.
