Strategies for Excellent Performance in the Digital Era: Insights from Qasim Akinreti, Ph.D.
Delve into the realm of digital disruption strategies and tactics for optimal performance as explored by Qasim Akinreti, Ph.D., Deputy Director of Digital Media at Voice of Nigeria. Uncover the essence of media professionalism amidst the evolving landscape, dissect key issues, understand the role of media professionals, and navigate the digital disruption landscape with finesse. Embrace recommendations and insights for media excellence in the contemporary era.
Download Presentation
Please find below an Image/Link to download the presentation.
The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author. Download presentation by click this link. If you encounter any issues during the download, it is possible that the publisher has removed the file from their server.
E N D
Presentation Transcript
DISRUPTION: STRATEGIES AND TACTICS FOR EXCELLENT PERFORMANCE. QASIM AKINRETI,PH.D DEPUTY DIRECTOR DIGITAL MEDIA VOICE OF NIGERIA . TEL:234-8023765263. TWITTER : @LALYCASE. EMAIL: QASIM.AKINRETI@GMAIL.COM
PROTOCOL I feel highly honoured by this unique opportunity to share my perspective on Media professionalism in the era of digital disruption strategies & tactics for excellent performance with the academic community of Ajayi Crowther University , Oyo, specifically Faculty of Communication & Media Studies, under the auspices of the Association of Communication Scholars Professionals of Nigeria, ACSPN, empowerment series. This presentation is timely for both the professionals and the media academic community at a time the media industry is gasping for breath and the mass Communication departments are churning out graduates in large numbers. We are also fulfilling the task of bringing the Gown to the toTown and Town to the Gown .
BREAKING IT DOWN Distinguished members of the academic community and media professionals , I will discuss the paper from better understanding keys issues Who are the media professionals? Dissecting the era of digital disruption ? What are the strategies and tactics for excellence performance ? Recommendations
UNDERSTANDING THE MEDIA PROFESSIONALS We are well trained Journalists , teachers of journalism, communication and media studies. According to IGI Global , publishers of timely knowledge , in the handbook of research on comparative approaches to the digital age revolution in Europe and the Americas (2016), media professionals are those who have degree in formal communication programmes ( Journalism, Advertising , Radio and TV, Public Relations and those who work in the above areas. We adhere strictly to the code of conduct of the Journalism namely - truth, objectivity, fairness, respect for privacy, by take note of public good, public interest and absolute privilege. This definition is very instructive against the backdrop of some charlatans and activists masquerading as media professionals under the guise of citizen journalism. Some refer to themselves as bloggers who are not ready to be subjected to any rules of engagements in the journalism profession.
DISSECTING THE DIGITAL DISRUPTION This amazing YouTube video on digital disruption, digital business transformation and innovation will assist us great to navigate through this presentation https://youtu.be/X19jB3rPtti One of the 21stcentury wonders is the digital disruption which comes with its own technologies and business models . It technologies are mobile applications, social media platforms, smartphones, big data ,predictive analytics and cloud . Expectedly, new technologies , creation of new business models must offer clients or consumers more value. The business models include subscriptions,free offerings,market lace model ,sharing economy , user experience premium, pyramid model , ecosystem and on demand model
THE ERA OF DIGITAL DISRUPTION This glorious era began a decade ago when a radical change and dissolution of traditional businesses processes and models were redefined . Digital disruption is the change that occurs when new digital technologies and business affect the value proposition of existing goods and services . (Gardner 2021). It features are creating a new market , new consumers , value network or culture , new market leaders and alliances. John Kennedy 2015, a Journalist, Editor with the Silican republic.com, identify some businesses that were affected by digital disruption . These are the media, telecommunications, transport business , real estate , banking , and software engineering. This presentation will X-ray and focus more on the impact of the digital disruption on the media business. Before then , I humbly wish to highlight briefly how others sectors were affected by digital disruption disruption. In the current circumstance, UBER , the world largest taxi company owns no taxi or cabs , but moving everyone across the world , setting a new template in the transportation industry. revolutionize the transport sector. For the telecommunication industry , Skype ,We chat and WhatsApp are now the largest phone companies with no telephone infrastructure .in terms optic fibers or cables. SocietyOne , KICKSTARTER, ZOPA,ASSET CAPITAL,,FUNDING CIRCLES and KUDA are fastest growing Banks in Australia, the UK and Nigeria with no physical banking halls and capital base but trading through applications. .AIRBUB is a largest accommodation providers for student in the UK with no physical real estate . Software engineering business has APPLE and GOOGLE as the biggest software vendors without writing any APPS.
THE ELEMENTS &HOW DIGITAL DISRUPTION WORK ? It is trite to note that SWOT concept (Strength , Weakness,Oppurtunities, and Threats), has been the main driving forces on the success of elements and workability of digital disruption. These are simplicity, convenience reliability , free to use and access applications and good use of the online platforms . Six acronyms AAAAAA, will assist us to achieve element enunciated . ANALYSE- find out how does the competition deals with the disruption ATTACK- identify. And deal with threats through swift and aggressive actions- ALTERNATIVE what are the competitors doing . Identify an alternative market channels e.g the TVC, AIT and ARISE TV challenge to state run broadcasters NTA . PREMIUM Times online and mainstream newspapers Van-guard and Punch ALLIANCES - established alliances with top rated organisations, donor funding organisations ACQUIRE- get insights directly from leading executives on media adaption to their organisations. How does New York Times uses artificial intelligence for AVOID-
THE MEDIA SHARE 1 In the media business today, we have moved from buying newspapers to opening newspapers apps on tablets , listening to radio stations and watching television from mobile apps . Radio garden.com is now a popular apps with thousands of radio stations globally online real time . We no longer listen from radio sets in the offices or at homes.newspapers publishing more online and producing hard copies. More adverts are now propping up in the online newspapers editions. Newspapers, radio and TV are on multimedia channels. The era of renting DVD s from corner shops are given ways to streaming favorite TV series on a smart TV through NETFLIX. Younger generations are demanding instant access to content anywhere anytime. ONTV took viewers by surprise with drama series, soaps , music and variety of entertainment at the detriment of news. They have no TV Announcers, producers nor reporters . Yet they were able to deliver services to teeming viewers.
DIGITAL DISRUPTION 2 The are no longer thin line among newspapers, radio and television productions. Newspapers are published online ,radio signals are broadcast online through the radio garden app, Traditional TV is moving to the online space in an attempt to keep up. The vogue now is for traditional media outlet having a facebook addresses , twitter handle platforms. Live streaming is the other of the day Google TV and YouTube TV are free video service for over 2 billion users a month Cable or satellite TV has displaced terrestrial TV using air antennas , On demand viewing disrupted traditional broadcasting model, podcast has taken the center stage in broadcasting . Viewers watch shows on their now schedule, you can avoid annoying commercials
DEMOCRATIZATION OF PHYSICAL AND HUMAN CAPITAL STRATEGIES & TACTICS According to the world economic forum report 2022; there are four digital trends reshaping the media industry in the last decade and will effectively navigate the future. These are the combinations of demography , consumer behaviours , rise of amateur content creator grown up by the Eco system challenges and increasing usage of technology . The Demographics option- the global middle age class grows from 1.8 billon in 2009 and projected to move up to 4.9 billion in 2030. The emergence of the millennials generations from 1981 to 1997 are looking for convenience, memorable experiences and instant access to content online , real time , more importantly on videos and audio channels . 70 per cent of Nigerian youthful population consume news from social media platforms through mobile devices. The aging world populations demand s for health and wellness contents, entertainment and educational services for older people. Pew research center says 80 per cent of American adults consume news online.
STRATEGY AND TACTICS 2 In the Nigerian media space ,the online publishing have broken the barriers of the main stream media production techniques. Opera News online, Legit.news online, PremiumTimes News online, Aledeh.com, and The Cable among others have embarked on fully automated newsroom , where artificial intelligence , natural language processing and machine learning are driving content strategies. Bayo Olupohunda is leading the Opera news room, Dapo Olorunyomi and Muskilu Mojeed are giving directions at Premium Times. Sulyman Aledeh and Simeon Kolawole are showing good examples of how new media newsroom should be managed . These crop of Journalists redefine media content serving particular niche, and using appropriate technology for news format, presentations, when and where ever appropriate. Https://hub.opera.com, https://premiumtimes.com , https://www.thecable.ng, http://www.vanguard group.com https://guardian.ng, https://www.punching.com
STRATEGIES & TACTICS 3 The new media startup challenge Dataphyte is a Nigerian media and data analytics company, led by Joshua Olufemi that provides products and services on data journalism and data driven investigations to help the public and private sectors generate value for date and sociology economic insights . It raised 100 thousand dollars seed media investment from the media development investment fund . , See https://dataphyte.com Stears Business i- a digital media publication information start up provides access to high quality information on financial news in Nigeria .It raised 600 thousand dollars seed money to build Africa s Bloomberg media company. See https://techpoint.africa
EVALUATING EXCELLENCE PERFORMANCE Strength , Weakness ,Opportunities and Threats, (SWOT), analysis will be used to measured the excellence performance of media Organisations in the era of digital disruption The diverse use of technology, cost effectiveness and value addition to media products and services are some of the greatest strength of digital disruption in the Nigerian media. By now all media organisations in Nigeria are operating on the multimedia platforms. For example , the Premium Times online digital network platform have variety of specialized media products covering local Nigerian language, the election centre, human rights trafficking investigation,press attack tracker , podcast and campus reporter among others. Online publications have reduced the challenge of the cost of newsprint and other printing accessories importation. Specialized online skills for Journalists have improved. Facts checking techniques have taken center stage in the newsroom. Machine learning tools are already assisting Journalists to sort out documents and images in the newsroom.
EVALUATION 2 The weaknesses in the media space is the emergence of content development by non Journalists or amateurs who throws caution into the wind in relation to the code of conduct to ethics of the profession. Some of the stories posted online fall short of best practices. Inadequate research of some stories are noticeable in some online platforms. Respect to decency and privacy are strictly adhere to. digital disruption Oppurtunities are noticeable in the areas of diversification of revenue sources for the media industry. There are more online adverts , special media projects , grants and partnerships from donors agencies. Available statistics shows that online adverts for Vanguard newspapers account for about 40,000 dollars per month. There are more direct advert placement on facebook and tweeter posts. There a re more audience engagement online real time. New media digital jobs are now available for technological savvy Journalists.
EVALUATION 3 Threats are noticeable in the loss of jobs . The traditional media titles or positions such are gone , paving way for new media generated titles such as videographers, data analysts and team lead among others. There are regulators uncertainty over intellectual property rights . The new generation of media consumers are looking for instant access to content globally.
RECOMMENDATIONS There must be an urgent capacity building or training the practicing and student Journalists on digital disruption technologies and strategies. This can be done through expansion of the Mass Communication curriculum to accommodate the realities of digital disruption. Media organizations in nigeria must own the change and ensure organization wide commitment to digital transformation . They must team up and create competitive advantage from brand recognition. Take full responsibility for data ownership and ethics.
REFERENCES Otufodunrin.L. (2019). How To Survive The Digital Disruption In The Media Industry . Media Career Network. Lagos. https://mediacareerng.org Benjamin ,T. (2021). Nine Disruptive Business Models : New Opportunities For Companies. Www.morethandigital.info. Switzerland . Pendlebury , Ty. (2021). YouTube TV Review. www.cnet.com/reviews/YouTube-tv-review/ Kennedy. J. (2015). Digital Disruption Changed 8 Industries Forever. Www.siliconrepublic.com Ramesh .R. (2019) . Navigating A World Of Digital Disruption . Boston Gr p. Strategy In The Age Of Digital Disruption.(2021).www.instead.edu/executive-education/open-online programmes/strategy-age digital- disruption-overview Surviving Digital Disruption. (2022).http://reports.weforum.org Www.vanguardngr.com https://www.thecable.ng www.thisdaylive.com Disruptive Technologies and New Business Models , 2018
