VV20 : Philosophy With Business Management

Trade-off between Company Philosophy and Core Goals

The fact should be noted that an organization can become successful in the market only when they initiate their actions on the basis of ethical code of conduct present in the environment. Similarly, it is important for the employees to enforce various actions that imply the vision and mission of the company. The trade-offs between the philosophy of the company and its core business objective is formed within the relations of the mission and vision of the organization only. These trade-offs effectively serve the customers their required services. The philosophy of the organization includes a platform that comprises of internal practices for the employees that they need to follow in order to successfully reach the goal in the market. With an aim to successfully reach sustainability, profitability and growth objective in the market, the organizations need to successfully strengthen the brand message by making use of adequate resources and delivering it to customers on time as well (Ehret, 2004).

Further, in the case of Sulzberger legacy and the history of New York Times Co., the constancy of commitment to high cost journalism was make the organization numerous issues in the market. The company is gaining attention of digital media platform where they adequately serve the customer with less cost as well. Maintaining legacy is of no use when the company is not receiving any profit out of it. High cost journalism was reducing the efficiencies of the organization in the market. Thus, it can be said that trade-off between the company’s philosophy and core business value can act good if it strengthens the business and provide various opportunities to it in the target market (Keller, & Richey, 2017).

Importance of Public Image

It is important for every organization to question their public image time to time so that they can clearly attain a better picture of their position in the market. Public image helps a company in knowing that whether their actions are giving positive returns to the customers in the market or not. Coming up to the given case of ‘The Times’ newspaper, it should be noted that the company is trying to change their internal actions that might cause problem to the customers in future. Thus, it is important for the organization to question their public image so that they can attain the information about the expectation of the customers from their brand (Hartley, 2017). As the company is trying to the change the age-old legacy organizational structure so might create a scandal in the environment, attaining information from the market at proactive basis will help them in successfully making changes in the business. This aspect will also reflect to the image of the company in a positive way, as the company would have already known the reaction of public. Thus, it should be noted that changing the philosophy of the company would not harm the public image until unless the value derived from the services is equal or higher (McCombs, 2018).

References:

Ehret, M. (2004). Managing the trade-off between relationships and value networks. Towards a value-based approach of customer relationship management in business-to-business markets. Industrial Marketing Management, 33(6), 465-473.

Hartley, J. (2017). The Politics of Pictures: the creation of the public in the age of the popular media. UK: Routledge.

Keller, K. L., & Richey, K. (2017). The Importance of Corporate Brand Personality Traits to a Successful 21st Century Business. In Advances in Corporate Branding (pp. 47-58). Palgrave Macmillan, London.

McCombs, M. (2018). Setting the agenda: Mass media and public opinion. US: John Wiley & Sons.