Strategy development for the real world : A metro newspaper has nowhere to grow and lots of “new media” competition

A respected Wisconsin metro newspaper, confronting significant market change and eroding profit opportunities, gathered a broad cross‐section of its management team together a little more than a year ago to take a fresh look at its business strategy. The resulting strategic plan strikes a balance between focusing on key operational targets and creating distinctive editorial products that ensures the paper remains the “indispensable source of news and information” in its markets. This case study examines how The Milwaukee Journal Sentinel used strategic planning to craft a strategy that keeps profits flowing despite in an increasingly competitive market environment. This case demonstrates that even when a company is pushed to improve operational performance it still cannot ignore the need to create a distinctive strategic position in its market. And, even when a company enjoys a leading market position, it cannot afford to relax its commitment to operational excellence.