| As an important propaganda medium in China,TV media has played an important role in the past 40 years of reform and opening up.However,in 21 st century,internet has been rapidly developed and information technology has been applied in every industry.Especially with the rise of new media,such as digital TV,mobile TV,network TV,portal website and self-media,media industry has been greatly impacted by these new competitors.As the leading city television station in the western region,C Radio and Television Station is not only influenced by new media,but also faces the competing pressure of satellite TV stations.The traditional advertising business declines year by year,while their business environment became more difficult and dangerous.Therefore,C Radio and Television Station is now attempting to take a step on marketization of traditional advertising business.In 2017,it established E Media Company.The company has not only the genes of enterprise system,but also the characteristics of a modern company.It is a problem that how to balance traditional advertising business and strategic transformation business,and it also keeps bothering the company's leaders.E Media Company is established by C Radio and Television Station to figure out a new way in such an environment where television advertising business keeps declining day by day.E Media Company chooses diversification strategy as its direction.However,diversification strategy is not suitable for every enterprise.Many companies are now facing the problem that how to use diversification strategy properly.Because of the influence of old system,the relations of production is not thoroughly adjusted and there are still some problems in the diversified development of E Media Company,such as lack of human resource.This paper made a research on the media company in order to find out the new strategy which is suitable for upgrading the business.Under the guidance of the theory of diversification strategy,this paper drew lessons from researches at home and abroad.Considering the development status of E Media Company,firstly this paper analyzed the internal and external environment of E Media Company by PEST analysis method and Porter's Five Force Model.Also this paper discussed the motivation of E Media Company's diversification.And then this paper used SWOT analysis method to analyze the situation of the company.Combining the external environment with internal conditions of the company,this paper figured out the objectives of diversification strategy.Moreover,this paper used Boston matrix to analyze the business of the company and tried to optimize the development strategies of various business sectors.It was suggested that the development direction of E Media Company was correlation diversification.Finally,this paper summarized the main measures of diversification strategy and put forwards optimization suggestions.Until now,there are few researches concerning the diversification of media company at home and abroad.And most city TV stations in China are trying to explore a new business model because of the dilemma of traditional advertising business.Therefore,it is necessary to study the diversification strategy of media enterprises.This paper is based on the research of theories and practices,aiming at helping E Media Company to find a right direction of strategic transformation.And it can also be a reference for other media companies. |
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