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Problem Solution: Harrison-Keyes Inc.
University of Phoenix
MBA 590: Strategic Implementation and Alignment
Dr. Jay Deb
Introduction
Harrison-Keyes is at a pivotal point in the company's history. It must decide what strategy will carry it into the future and mitigate the current circumstances that are pervasive in the industry.
Background
Harrison-Keyes was founded in 1899. It came to profitability by publishing well known authors. As time progressed, the company felt that it needed to shift its focus. In the 1950's H-K moved to business, scientific and technical information content. In addition it has spread into journals, professional and consumer books, textbooks and other educational materials. Within their library of content they have over 22,000 titles and add 2000 new titles every year.
Currently they are facing similar problems as other publishers. Big box retailers are dominating the market. This has caused independent retailers to struggle or fail. As a result distribution channels are consolidating and reducing profits. In addition, large retailers are offering a generous return policy which effecting profits further.
As a result of stagnate situation of the publishing industry; Harrison-Keyes has hired a new CEO Meg McGill. Based on industry review Mrs. McGill has developed an e-publishing strategy. Harrison-Keyes also believes this to be a sound strategy because rivals have also adopted it. Unfortunately, for H-K, they have been quick to implement their digital strategy.
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