Research On The Strategic Transformation Of Financial Media

As the rapid and deeper developments of globalization and internet technology, traditional media like newspaper, magazine, and even television started to lose their competitive advantage. Digital media like portals and various digital information service platforms have made phenomenal progress and become the future trends. With this tremendous impact from external environments, traditional media, if they want to survive and continue to keep their competitiveness, should transform their strategy accordingly, to digital media.This paper takes China Business Network (CBN) as an example, and through the analysis of its external and internal environments, its strategic choice and strategy execution, aims to offer theoretical supports and methodological suggestions on the one hand, and on the other hand, to show the media industry a possible pathway, and provide them with a model that may be helpful.By showing the example, this paper shows the necessity and feasibility of strategic transformation by analyzing the external environments, including macro environments and industry environments, as well as the internal resources and competencies of the CBN. Then it clarifies the mission, vision and strategic goals of CBN, and by doing SWOT analysis, shows the direction and strategic choices of the transformation so as to achieve its mission and goals. Finally, after setting up strategies on different levels, this paper gives some specific suggestions on how to execute the new strategies from the perspective of organization, resources allocation and corporate cultures.