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MBA in Media Management Purpose 2 Handbook Purpose 2: Strategic Planning 2013 - 2014 MBA in Media Management Purpose 2 Handbook Purpose 2: Strategic Planning 2013-2014 Metropolitan College of New York Metropolitan CollegeSchool of Newfor Business York School of Management, Business Programs TABLE OF CONTENTS Introduction: The Media Management MBA Program ........................................................................................... 3 Overview of Purpose 2: Business Planning Development & Marketing ................................................................ 4 The Purpose Dimension: Strategic Planning ........................................................................................................... 8 The Skills Dimension: Managerial Economics ..................................................................................................... 11 The Self and Others Dimension: Media Marketing in a Global Environment ...................................................... 12 The Value and Ethics Dimension: Media Contract Drafting and Negotiation ...................................................... 15 The Systems Dimension: Music and Publishing Industries in the Digital Age .................................................... 17 Purpose Performance Ability ................................................................................................................................ 18 MBA Foundation Courses ..................................................................................................................................... 19 Media MBA Constructive Action Rubric…………………………….………………………..………………20 Media MBA Purpose 2 Constructive Action Working Outline……………………………………….……….24 2 MBA in Media Management Purpose 2 Handbook 2013- 2014 INTRODUCTION: THE MCNY MBA MEDIA MANAGEMENT PROGRAM The MCNY Media Management MBA program is specifically and uniquely designed to develop quality management practitioners in the media and entertainment industries capable of creating corporate cultures in which individual initiative, participation and autonomy will result in augmented self-esteem and job commitment, enhanced productivity, improved product quality and labor-management relations, strengthened global participation, and, ultimately, in increased profitability and responsible community awareness and civic participation. It does so by integrating management theory, practice and performance, focusing on the imaginative and entrepreneurial thinking and problem solving skills essential in today’s rapidly developing content driven and converging media environments. The first of its kind in the nation, it remains the only one year accelerated specialized MBA program in Media Management, fusing the study of general MBA core competencies in economics, finance, marketing, operations, management, and accounting with intensive exploration of media specific fields essential for effective media management. The MCNY Media Management MBA program provides students with the tools necessary to successfully navigate the unique nuanced business, operations and management characteristics of the media and entertainment industries by providing students with a comprehensive analytical overview of the media industries including entertainment law, new media, broadcast, film, music and publishing industries, media marketing, advertising & public relations, arts administration & cultural heritage management, and media theory. Delivered by industry experts using MCNY’s Purpose Centered Education model, students combine this focused comprehensive analytical study of media industry topics with applied knowledge and practical skills gained through three semesters of hands on field experiential practicums in media entrepreneurial and/or intrapreneurial Industry & Venture Assessment, Business Planning, Development & Marketing, and Venture Implementation, Actualization & Evaluation. In addition to the general goals of the MCNY MBA program, students in the Media Management program will gain knowledge to: Develop models for successful exploitation and utilization of social and mobile media in the delivery of traditional entertainment industries; Manage and develop new successful business models in changing music and publishing industries in light of digitization and convergence; and, Be at the forefront of administration of successful business models for developing “new” media industries, entrepreneurial media ventures or improved service methods within media businesses with skills acquired through the Dimension classes and the Constructive Action. 3 MBA in Media Management Purpose 2 Handbook 2013- 2014 OVERVIEW OF PURPOSE 2: BUSINESS PLANNING DEVELOPMENT & MARKETING Students apply knowledge obtained and the strategic industry assessment conducted for their Constructive Action in the prior semester, to develop a comprehensive strategic business and marketing plan for their chosen entrepreneurial and/or intrapreneurial venture. They will also learn that well-written and exhaustive business and marketing plans are not only important in developing an entrepreneurial or intrapreneurial opportunity, but also essential in determining the allocation of resources, obtaining or securing them and successfully managing the resulting venture. When or where appropriate, students will also plan and build a website that can be used in marketing or implementing elements of their entrepreneurial and/or intrapreneurial venture. PURPOSE ACHIEVEMENT ABILITIES The knowledge and skills acquired in engaging in this Constructive Action to achieve a worthwhile Purpose are embodied in 24 Abilities that are grouped by Dimension. PURPOSE DIMENSION ABILITIES STRATEGIC PLANNING 1. Explore opportunities to improve the world. Identify the social, political, economic and technological challenges and climates faced by media businesses, stakeholders and constituencies and develop plans to address and/or over come them; Define goals that are critical to achieving successful business opportunities that are consistent with the venture you want to develop. 2. Choose the best goal. Develop an industry and market assessment for your particular venture taking into consideration your potential local, national and global stakeholders and constituencies; Identify feasible, sustainable and measurable financial and strategic objectives for your proposed entrepreneurial or intrapreneurial media venture. 3. Agree on a plan. Identify the business model and effective strategies to implement and market the venture with defined metrics. 4. Carry out the plan. Monitor progress and use of knowledge. Change plan as needed. Develop the business and marketing plans with proposed performance milestones, outcomes and measures, to allow for effective and accountable implementation of the venture and modification of plans and strategies as needed. 5. Assess the results and plan the next steps. Assess the business development and marketing strategy results, define strategic implementation projects and layout future course of action to launch and strategically management entrepreneurial or intrapreneurial venture. 4 MBA in Media Management Purpose 2 Handbook 2013- 2014 SKILLS DIMENSION ABILITIES MANAGERIAL ECONOMICS 6. Identify and use appropriate critical thinking skills. Identify and incorporate sound Managerial Economics concepts in making and managing business decisions and performance. 7. Identify and use appropriate mathematical skills. Identify and apply appropriate economic theories to develop and support business models in the media industries and in media related entrepreneurial/intrapreneurial ventures. 8. Identify and use specialized skills required by the Purpose. Identify and incorporate the appropriate managerial economic theories and tools that can support business development and growth as appropriate. SELF AND OTHERS DIMENSION ABILITIES MEDIA MARKETING IN A GLOBAL ENVIRONMENT 9. Describe self in relation to the Purpose. Understand how convergence, digitization and globalization have impacted strategic marketing decisions, particularly in entertainment industries. 10. Appreciate experience and views of others. Develop appropriate tools to communicate with constituencies and business stakeholders consistent with converging media and entertainment industries while developing, implementing and measuring strategic marketing programs. 11. Build good relationships. Understand the role of marketing, branding and market segments in developing successful business strategies and analyzing market opportunities to develop methods of customer relationship management for your business while building sustainable viability and growth. 12. Communicate through reading, writing, speaking, and other modes of expression. Understand the principles and practices for developing marketing strategies, mediated communications and promotional messages for the entertainment industry. 13. Promote growth in self and others. Identify and incorporate methods to exploit new media and technological advances in the converging and changing media industries to operate a successful business, make a positive impact on and empower local, national and global communities within which your venture operates. 5 MBA in Media Management Purpose 2 Handbook 2013- 2014 VALUES AND ETHICS DIMENSION ABILITIES MEDIA CONTRACT DRAFTING AND NEGOTIATION 14. Clarify own values in relation to the Purpose and in relation to your Industry Venture. Develop plans to establish the legal framework(s) applicable to and suitable for use by the student's media venture taking into consideration and adapting for any ethical
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