MAJOR PROBLEMS OR ISSUES Over the next 5-10 years, TIME For Kids Magazine (TFK) will face major problems. These problems are rooted from the management itself. The publisher’s management style tends to be loose and lacking direction, which often results in a misuse of time and money. The decision to hire a completely new team left a management staff with little experience. Organization structure is adequate to handle current productions; however, as business increases Time for Kid Magazine needs to re-organize its management and staffing. The current sales team, located on the east coast, engages in a job sharing arrangement, which results in only one person in the field and little to no presence in the West and Mid-West markets. TIME For Kids Magazine must closely pay attention to its customers’ needs since its subscriptions do not follow the national curriculum. TIME For Kids Management must develop strategies and tactics to keep its customers (teachers, students, and parents) interested in its subscriptions. Not being able to address this issue, competitors such as Scholastic News and Weekly Readers will gain advantages over business. TIME For Kids Magazine must also pay close attention to the needs of their advertisers. The three TFK editions currently in print are targeted for a larger grade range than their competitors. This has forced advertisers to campaign outside their target audience, which they may feel is an unwise use of funds. Other competitors such as online website for kids and internet social website for kids must be considered as well. To increase revenues and profit margin, TIME For Kids Magazine will need to address advertising and sales sponsored program, circulation, production/distribution, and management strategies.
A. ORGANIZATIONAL PURPOSE, OBJECTIVE, AND CURRENT STRATEGY TIME For Kids Magazine is a weekly publication that is delivered directly to the classrooms of students ranging from kindergarten to seventh grade. TFK currently reaches around 4.1 million children and delivers educational non-fiction articles containing age appropriate current events and news. TFK’s objective is to provide real and enlightening information to young people in hopes of fostering connections and a lifelong interest in world events. Senior management strives to make decisions that will differentiate the publication from it competitors by maintaining circulation requirements while maximizing net profits.
B. SWOT ANALYSIS
TIME For Kids magazine is a subdivision of Time Inc., which is an entity of Time Warner, the world’s number one media firm. Time Inc. is well positioned across most popular consumer magazine sectors. A good reputation and the ability to maintain excellence is an asset for TIME For Kids Magazines.
TFK Magazine has a very strong editorial staff. The editorial staff is responsible for creating and designing all standard weekly issue content. Having a strong editorial staff allows TFK to produce issues with rich content that increases the value to the reader.
Due to the decision to hire a completely new team, TFK is left with management staff that is somewhat inexperienced. The sales staff has minimal experience in selling in-class sponsored programs. As a result the sales team has done a poor job at explaining how the in-class magazine business model works and quantifying the value of being able to reach a larger number of students.
There is a lack of accountability for staff to complete assignments accurately. Due to the loose management style of the publisher, the staff is often confused and forced to guess about how projects should be completed. This results in a misuse of time and money.
TFK’s weekly issues do not follow the national curriculum; however, competitors Scholastic News and Weekly Reader do follow the national curriculum.