The New York Times has been opening eyes of the American people since the 18th of September, during the year of 1851. This quintessential paper became known as the Grey Lady of America to public audiences and viewers. This network first began with only a few sectors in an old-beaten newspaper when majority of Americans were not as ‘’attention-drawn’’, as billions of viewers are today. The New York Times provides information from Business to politics to science to health. There is approximately over twenty categories within the New York Times news as a whole.
The founding of the New York Times was in New York City, New York by the New York Times Company. The New York Times currently holds the largest sales number following with that of the Wall Street Journal. The company’s vision and mission statement is one that; stands-out juristically, promotes in several creative aspects, and reveals the outstanding dynamics of the company through one sentence. The New York Times mission states clearly, ‘’The New York Times’ core purpose is to enhance society by creating, collecting and distributing high-quality news, information and entertainment.’’ (Elia2010).
The timeline of the New York Times Company is one that consist of a wide variety in range, but the most important events took place after the New York Times became the United States center of controversy.
In 1971 the Times became the centre of controversy when it published a series of reports based on the “Pentagon Papers,” a secret government study of U.S. involvement in the Vietnam War that had been covertly given to the Times by government officials. The U.S. Supreme Court found that the publication was protected by the freedom-of-the-press clause in the First Amendment of the U.S. Constitution. The publication of the “Pentagon Papers” brought the Times a Pulitzer Prize in 1972, and by 2015 the paper had won 114 Pulitzers, considerably more than any other news organization. Later in the 1970s the paper, under Adolph Ochs’s grandson, Arthur Ochs Sulzberger, introduced sweeping changes in the organization of the newspaper and its staff and brought out a national edition transmitted by satellite to regional printing plants. (BRITANNICA2016)
The Times continued to utilize technology to expand its circulation, launching an online edition in 1995 and employing colour photography in its print edition in 1997. The publication introduced a subscription service called Times Select in 2005 and charged subscribers for access to portions of its online edition, but the program was discontinued two years later, and all news, editorial columns, and much of its archival content was opened to the public. In 2006 the Times launched an electronic version, the Times Reader, which allowed subscribers to download the current print edition. The following year the publication relocated to the newly constructed New York Times Building in Manhattan. Soon thereafter it began—like many industry publications—to struggle to redefine its role in the face of free Internet content. In 2011 the Times instituted a subscription plan for its digital edition that limited free access to content. (BRITANNICA2016)
The New York Times Company as a whole still remains strong, acknowledged, and best-selling in the United States. However there has been a dramatic decrease in the numbers of sales for printed newspapers. While, the increase in online views continues along a successful growth. The State of the News Media reported the New York Times progression over the previous ten years. Throughout the year of 2003, sales were booming immensely until the digital more technological view took over between the years of 2008-2012. The NY Times Income statement remains above water, financially by revealing the stability within the company.
Everyone is aware of the New York Times whether or not familiar with the marvelous works provided by this firm. The New York Times has done excellent works in creating a name that is unforgettable. This company should most definitely viewed as one the World’s major competitors in the economy.
Even though, the thought of a multi-billionaire making company such as the New York Times, is not imaginable, competition still exist even at this higher level of earnings. The company must remain aware of their mental and physical barriers. Any other company, is liable at their advantage of becoming the successor of the New York Times. Further-speaking, realistically, this would stand taller than a rock-climbing mountain wall, opportunity stands open. Opportunity for another company to take over that of the other, has been done repetitively in this, specifically in the business industry. The New York Times must continue to generate new aspects, new ideas, and new innovations for the public audience in hopes to attract triple the audience rather than a decrease in customers and viewers.
As for today, there are three major companies that float in the same canoe as that of the New York Times. These major oppositions consist of; TEGNA Inc., Graham Holdings Company, and the News Corporation. Each and every one of these challenges have earned similar revenue New York’s New York Times, if not doubled. In further-speaking the NY Times has had great effect on society both from a microeconomic and macroeconomic stand-point.
Viewing the effects from a microeconomic position, local grocery stores, convenient stores, television companies, and other public recreational centers, have provided access to the New York Times product in some way, shape, or form. This keeps the company’s revenue up and expenses low. Audience of all kinds are able to reach the work and updates in the New York Times News right at their fingertips. Whether the audience is viewing an article produced on the New York Times public newspaper or on an electronic device.
The New York Times has been affected by the five key dimensions off the Business environment just as any other company has within the business industry. The five key dimensions of the business environment consists of: Economic, Social, Technological, Global, and Competitive. The New York Times Company is effected occasionally by the five key dimensions in more of a positive aspect than negative. A company that maintains strength in each of these five broad categories, are usually the ones to remain most successful throughout their line of work and also within the world’s business industry.
Economically the company has left a great amount of impact on viewers and their audiences. The New York Times has succeeded in doing, being that, the wide variety of news broadcasting goes into deep detail and depth in order to connect and in tune their audiences of all ages. Socially speaking, the NY Times has always been able to adjust to that of the changes throughout society. Furthermore, the use for social media networking sites has increased perilously and the New York Times Company has expanded their networking from hardcopy to digital in the matter of years. However, even though, the New York Times actual newspaper sales have decreased over time, the sales still remain sky rocket. Online viewers have introduced a greater outcome for the company other than most.
In Relation to, that of the evolving change the New York Times has made, the technological advances has become the greater demeanor for the network. New York Times has marked-up their online viewers simply by applying new and improve technologies to better their company. The New York Times team members continue to innovate new and improved idea to best deliver important messages to the general public. Globally the New York Times Corporation shows the company’s increasing number and progression made day-by-day, located on the homepage of NYTCO. These statistics currently states the approximate number of views from countries such as; Japan, Israel, and Brasil. These numbers range from 100-800 views.
The New York Times Company would be considered a pure competition operation. A company that is related to pure competition is one that contains a broad range of competitors who offer the same product. However, the New York Times has remains one of the top best-sellers for over two centuries now and still carries on the highest amount sales, let along online viewers.