Media Management Exam

What is media management as a field?

study of the integration of media, business, and strategy

What is the goal of media management?

apply theory to real-world problems

What are the core areas studied in media management?

structures, leadership, business models, technology

What four elements make up the 360° media perspective?

people, technology, applications, economics

What is a platform business model?

connects users and producers

What makes media management unique?

combines industry practice with academic theory

What are the two key guiding questions of the course?

digital transition + long-term strategy

Why is a 360° perspective important?

ensures complete analysis of media systems

What is the relationship between theory and practice?

theory explains real-world behavior

What does Küng argue about theory?

connects academic knowledge to industry challenges

What are intermediaries in media?

platforms linking users and creators

What are network effects?

value increases with more users

What does boundary-spanning mean?

connecting different user groups

What are communities of members?

user-driven ecosystems

What does VUCNA stand for?

volatile, uncertain, complex, novel, ambiguous

Why is VUCNA important in media?

describes unstable industry conditions

What does dependency theory explain?

reliance increases media influence

What needs drive media dependency?

understanding, action, escape

What increases media’s impact on individuals?

higher dependency

What is authentic leadership?

self-aware, ethical leadership

What do authentic leaders emphasize?

transparency and values

What do authentic leaders build?

trust and credibility

What key processes define authentic leadership?

self-reflection, moral perspective, balanced processing

What is the shift from control to?

collaboration

What is the shift from style to?

substance

What is the shift from ego to?

empathy

What are the five elements of leadership?

identity, values, capabilities, behaviors, environment

What does “being” vs “doing” leadership mean?

identity vs actions

True of False: leadership be learned

true

What is a critical leadership trait?

willingness to take risks

What does management require?

efficiency + effectiveness

True or False: Efficiency is doing things right

True

True or False: Effectiveness is doing the right things

True

What are the four steps of management?

planning, organizing, leading, controlling

What is leading in management?

motivating and directing employees

What is autocratic leadership?

centralized decision-making

What is democratic leadership?

shared decision-making

What is free-rein leadership?

minimal supervision

What are the steps in the control process?

-Set Standards

-Measure Performance

-Compare Results

-Identify Deviations

-Corrective Action

What is strategy?

long-term competitive positioning

What influences strategy?

environment and competition

What model analyzes industry competition?

Porter’s Five Forces

-The environment is unstable

-Change is often unexpected, quick, ,ulti-directional, and hard to predict

Volatility

-Trends and patterns in the environment are opaque

-It is hard to anticipate events or estimate correctly how they may play out

-Forecasts are likely to be guesses

-Experiences based on past events become less relevant

-Planning is difficult

Uncertainty

-Strategic problems have many interrelated variables (multiplicity of competitions, markets, key decision factors, communication points, and outcomes)

-There is a risk of oversimplification, and of strategy being reactive not proactive

Complexity

-Situations are seldom completely clear

-There are many unknowns and ‘unknown unknowns,’ contradictory demands and priorities

-Multiple interpretations are possible and equally valid

-deciding on a course of action and gaining consensus from all stakeholders is hard

-Decisions are riskier

-There needs to be a tolerance for mistakes

Ambiguity