Problem Solution: Harrison-Keyes Inc.
Harrison-Keyes Publishing Company Inc., a global publisher of print products of business, scientific and technical information, is facing many obstacles with profits declining as it find ways to compete with the low-cost retailers. Harrison-Keyes Board is pleased with the e-publishing initiative but wants the company to still focus on the market. The vision was good but it strategy was not implemented properly and new problems have started developing. The critical success factors were forgotten during strategy implementation. This paper demonstrates how with proper implementation planning and execution along with the use of best practices can make Harrison-Keyes a leader in publishing business.
Describe the Situation
Issue and Opportunity Identification
Harrison-Keyes is facing increasing industry consolidation and competition leading to decline in sales, market-share and profit. Harrison-Keyes has taken up an e-publishing initiative without the input of its stakeholders. E-publishing is becoming more popular with all the internet engines; however, Harrison-Keyes did not handled the implementation correctly which have caused several problems for the company. One of the problems is with Harrison-Keyes best author, Will Harper, Pulitzer Prize winner. Will Harper is threatening to move to another publishing company because he feels e-books will invite pirates to easily and illegally make thousands of copies of his works affecting his royalties.
In order to reduce costs, Harrison-Keyes outsourced the formatting of the e-books to an Indian company, Asia Digital Publishing, that they are having problems getting in touch. The company is not meeting deadlines causing the company more money because additional expenditures have to be approved. This is another issue Harrison-Keyes is facing. Implementation is key factor for success for any strategy.