Writing in his Financial Page column in The New Yorker, James Surowiecki offers this bit on the problems that have landed like a cataclysm-inducing comet on the newspaper industry:
In a famous 1960 article called Marketing Myopia, Theodore Levitt held up the railroads as a quintessential example of companies inability to adapt to changing circumstances. Levitt argued that a focus on products rather than on customers led the companies to misunderstand their core business. Had the bosses realized that they were in the transportation business, rather than the railroad business, they could have moved into trucking and air transport, rather than letting other companies dominate. By extension, many argue that if newspapers had understood they were in the information business, rather than the print business, they would have adapted more quickly and more successfully to the Net.
How many other industries/businesses are in the deep end of the doo-doo pool because they haven't figured out -- or don't care to figure out -- exactly what it is they do? Here's a note to all those of a similar mindset: Stop hitting the snooze button.
Read the article - it's good stuff: News You Can Lose: Financial Page: The New Yorker