Directing the futureAn innovative approach to strategy in the changing Canadian media industry |
The Future of Canada's Media Industry
The future of Canada’s media market is anybody’s guess. So why bother guessing at all?
At Deloitte, we don’t believe companies should rely on blind luck. That’s why we recommend a scenario-based approach called Strategic Flexibility. This approach, developed by Dr. Michael E Raynor, a Toronto-based Distinguished Fellow with Deloitte Research, doesn’t try to predict the future. Instead, it helps decision-makers understand the different outcomes that are possible, and then produces a flexible strategy that preserves a company’s options and mitigates risk.
Here, we use the principles of strategic flexibility to analyze the future of Canada’s media industry.
Making the right choices
You should test your own strategy against each scenario and develop appropriate responses to hedge their strategic risks. Deloitte offers a wide range of services to help Canadian media companies make informed decisions and manage risk.
Our experienced media professionals can help answer your toughest questions, such as: How can we use tax credits to subsidize our development activities? How do we identify potential acquisitions that will complement our strategy?
By applying the principles of strategic flexibility, Deloitte can help you develop a clear-cut plan to maximize the performance of your business regardless of how the future unfolds.
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Two influences For the Canadian media market, the two biggest influences over the future of media are technology adoption and government regulation.
Four scenarios Combining these two influences leads to four distinct scenarios. Which scenario is most likely to occur? Your guess is as good as ours. But one thing we can guarantee is that by understanding these four scenarios, and how each could affect your business, you will be in a much better position to develop a winning strategy — no matter what the future holds. |
Directing the future
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