Professional Journal 3greenspun.com : LUSENET : M.Ed./International Falls : One Thread
Professional Journal #3 Tim Mellstrom Spring 1999 The article 5X strategy deals with the evolution of technology and how it is applied and approached in the printing and publishing businesses. It explains how companies that are steadily updating its technological capabilities are the companies that are seeing large profits and high paying jobs. The article goes on to explain that most companies are stuck in their cultural inhibitions, which are causing some companies to remain stagnate and eventually unable to compete with the competitors that have installed the most up to date technology.
The top companies in the printing and publishing sector are continuing to distance themselves from the bottom two-thirds. These gains are 5X. The reason for strong growth is the implementation of new technology, which allows for an efficient company to get stronger and stronger. The 5X strategy is the formula for constructing an efficient business that performs at a quality production level at lowest minimum cost. The 5X strategy has five steps in the workflow and three strategies that are the key to success for many companies in the printing and publishing industry. The workflow encompasses the ability to change with the demands of your customers needs and they will determine the distribution of such products. Companies continued self-assessment program allows the companies to monitor their won product quality as well as the competitors. This allows the companies under the 5X strategy to lead in the printing and publishing industry.
The three stages in the 5x factor promotes and enables companies to improve their technology base, Improve the quality of the product and work on efficiency, which amounts to larger profits. This will ensure that the business is thriving economically and a leader that intends to remain the top of the industry. It also continues to improve their products, devise new and improved approaches to creating different products and new products that are demanded by the customers. The last stage deals with keeping one step ahead of the competition eliminate extra in the distribution process, and the number one aspect is to gain new customer and keep the old customers coming back. This whole process is geared with customer being the number one priority.
I feel the article dealing with the 5x strategy, has a lot of important tips for the printing and publishing industry. The 5x strategy could be used for many other aspects of the business world. The approach to continually modernize technology and focus on efficiency that will ensure high paying jobs. The company is making large profits, which are a wonderful mixture, that lead to success. When it is all broken down it seems very obvious that if businesses had this strategy more businesses would be successful. It is my feeling that if all companies used the 5X strategy, companies would produce quality products that the customer would really appreciate it. The managers of these companies need to make the tough decision to start modernizing their company.
I learned a lot about the printing and publishing industry in that most will be in the e-business workflow. Those that are not probably will not be around in the next few years. This was a very interesting article about the world of e-business workflow in the printing and publishing industry.
-- Anonymous, April 06, 1999