CNN's Target Market, PEST Analysis, Business Philosophy, and Strategies - Case Study Example

CNN RESEARCH PAPER I am doing a research on CNN because of all the innovative as well as creative techniques and methods, which it has adopted in order to be the best one. "CNN is hanging between latest techno-items and competitors techno items, trying and working hard to catch up all the ideas of it competitors in order to generate well oriented outcomes" (Peng, 2000). CNN is the one, which is working with innovative ideas, latest methodologies, latest techniques and with all the creative as well as latest techno items, is no doubt generating better and better outcomes but how? This above-mentioned question is a big question mark in our minds and it must be resolved in order to make CNN the best one. CNN, one of the world best news channel, which is providing all the latest and informational news to all the viewers in order to make you aware from all the happenings of the world. CNN (the Cable News Network) is one the broadest network that is working in order to be the best one. (Griffin, 2007) OWNER OF CNN Ted Turner founded CNN in 1980. CNN also known as Cable News Network, is one of the fastest network, which has worked with full enthusiasm in order to cater every single person's needs as well as demands. (Weiss, 2008) TARGET MARKET OF CNN CNN is one of the biggest and the largest news channel, which is providing day-to-day basis news to every one in order to compete with all the other news channels. Every single industry, which is working in this world, is here to cater all the needs and demands of its customers. CNN main as well as an important job is to make sure that every single person is satisfied with the service of CNN and whether it is performing well or not. The target market of this industry is every single person who is here. Target market is no doubt termed as an important element with the help of which work should be done in an appropriate manner in order to generate better and better outcomes. Today, CNN target market is actually to use enhanced and well-developed methods of technology in order to be the best one and to generate better and better outcomes. (Hitt, 2008) BUSINESS PHILOSOPHY OF CNN The business philosophy of CNN is very simple as well as innovative. CNN is the one, which only wants to work in such a manner with the help of which every person can get to know the main idea behind it. The philosophy is only to work in different and innovative areas along with the use of latest technology in order to generate the well effective as well as latest outcomes. Latest technology is one the main as well as an important element with the help of which new and advance ideas can catch the eyes of the viewers and can attain huge attention. The philosophy of this industry is very much simple and easy, "to use the latest technology in order to be the eye catching one". (Pride, 2004) As I have mentioned earlier, the main as well as an important philosophy of CNN is to use all the latest technology in order to obtain better outcomes. The philosophy itself says that using such kind of philosophy, which can make this industry the well-established one, is an important task of this industry. (Jelassi, 2005) Now this business is working with full zeal and zest in order to be the best one. This is the main reason why Ericsson and CNN have joined together in order to use the latest technology and to generate better and better outcomes. A joint team of mobile as well as media experts is there who are working well in order to use the latest technology and to cater the needs as well as the demands of every single person. The CNN international is the one, which is trying to use the latest technology and is working with different companies in order to generate the best outcomes. (Rainer, 2008) STEP/PEST ANALYSIS OF CNN Step analysis is termed as an important analysis, which analyzes the external affects due to which the industry can be affected either positively or negatively. Step analysis actually gives us the main idea with the help of which we can do further work and can also generate better and better outcomes. By doing a step analysis, one can very easily know the pros and cons of every single idea and with the help of these pros and cons; one can generate well effective outcomes. (Jouni, 2002) 1. SOCIAL AND CULTURAL FACTORS Social and cultural factors are termed as important factors, which can affect any business or any industry. CNN is also being affected by some social as well as cultural factors. (Kidd, 2000) 2. TECHNOLOGICAL ADVANCES Latest and modern advances in technology has done a vast experimentation in order to change our life and also to make us more and more advance in our way of living and communicating. (Levinson, 2007) The technological advances has no doubt done a great job and with the help of new as well as latest technological advancement, today CNN is working very well and is generating huge profits in order to compete with all the other competitors. Today, wireless world is there and CNN is the one, which is working along with all the latest technology and is working in order to do the best and to be the best one. (Gottachalk, 2006) 3. ECONOMIC TRENDS Economic trends, one of the most affecting trends are there in order to boost up the industry and to let the industry know how well it will work and how much is there to ad up more and more in order to generate more and more. With the help of the economic trend, one can very easily know how much is left, how much to ad more and where the industry is lacking. (Parker, 2005) 4. POLITICAL, LEGAL AND REGULATORY FACTORS Political, legal as well as the regulatory factors are the one which can harm the industry and on the other hand by working well an industry can also perform well and can results in good outcomes. There are numerous political related factors, which can affect the industry, and CNN no doubt has been affected by some political factors as well as some legal factors too. (Hill, 2009) The above mentioned graphical representation also shows that how the step/pest analysis affects the business and in order to be at the safer side how one should work and compete with all the upcoming factors in order to be the best one and also to be the one which is working along with the latest use of technologies. Step/pest analysis is actually the one with the help of which all the external factors can be easily measured with the help of which an industry or the business can measure all the external threats which are somehow likely to come and will therefore damage the industry. With the help of this analysis, an industry or the business can work well and can generate well in order to be the best one and to be the top most one. (Burn, 2002) BUSINESS STRATEGIES The business strategy of CNN is quite different and innovative. The concept, which this industry has used, is different from all the other concepts because it has a touch of latest technology. (Johnson, 2008) With the help of this latest technology, this industry has worked well and has no doubt generated innovative as ell as creative ideas with the help of which better and better outcomes are also generated. (Lucy, 2000) Different business strategies are there which should be taken into consideration in order to be the best one and to generate best outcomes. (Certo, 1994) As mentioned above, Ericsson and Turner are working with each other with full collaboration in order to introduce the Turner's internet. (Ferrell, 2007) CONCLUSION CNN international is the one, which is working with all the latest technologies in order to be at the top most position and to be the one, which can generate well-oriented outcomes. Using the latest technology and then catering the needs as well as the demands of the customer is the foremost task for every one and this is the main aim behind the joint work of Turner ad Ericsson. The mobile service has been used along with the use of the special software, which can make your work easier. Along with this, Ericsson has also provided following mentioned services: (Harris, 2004) Testing of usability Research and focus groups innovative techniques Analyzing the workings of the competitors and then working in different and innovative manner is one of the most challenging task which CNN has done and all this was possible because of the sue of latest technology and introducing new and advanced techniques. Working hard in order to be at the top most position is the main aim of this industry and this is the main reason, which makes it more and more powerful in order to be at the top most position and to be the best one. (Lichty, 1994) REFERENCE Mike W. Peng, (2000), Business strategies in transition economies, Sage Publications, page 300-322. Ricky W. Griffin, (2007), Fundamentals of Management, Cengage Learning, page 500-528. Joseph W. Weiss, (2008), Business Ethics: A Stakeholder and Issues Management Approach, Cengage Learning, page 500-510. Michael A. 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Philip Robert Harris, (2004), Managing cultural differences: Global leadership strategies for the 21st century, Butterworth-Heinemann, page 590-600. Tom Lichty, (1994), The official America Online for Windows membership kit & tour guide, Ventana Press, page 500-543. Read More