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Thomson Corporation Will Cain
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History Founded with ownerships of newspapers Brief stint in oil, travel, and department store endeavors Value of company grew from $500 million in 1976 to $29.3 billion in 2006 Most of its revenue came from publishing, which included primarily newspapers and educational texts
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Richard Harrington 1997 – decided to get into information services Markets serviced included: legal and regulatory, learning, financial, and science/health care Growth was to be the most important goal of the company, even a larger goal than the bottom line
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Prospector Strategy Definition: to take risks, innovate, seek out new opportunities, and, consequently, to grow Discussion question: Was it a good idea for Thomson to delve into something it new little about, or would it have been better to use the defender strategy?
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Goal-setting Growth, at this point, is the largest goal for Thomson Since Thomson is going into a new field, its mission statement and short-term goals are unfinished
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Resource-Based Approach Assesses effectiveness by observing the beginning of the process and evaluating whether the organization effectively obtains resources necessary for high performance Thomson uses this approach by looking into a completely type of product and process. Growth has become most important for Thomson and is measuring their performance by how much larger they are becoming.
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Irony In 2008 Thomson Corporation merged with Reuters, a large news service powerhouse based out of London Discussion question: Why do you think Thomson Corporation went back into the news business after such a high emphasis was placed on making the informational business work?
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End Final thoughts or questions
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