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Project Report On: Developing Balance Scorecard Times of India

The document discusses developing a balanced scorecard for Times of India's Twitter strategy. It provides background on TOI and its presence on Twitter. It then outlines the business strategy, proposed strategy map, and key objectives and initiatives within the customers, internal processes, learning & growth, and financial perspectives of the balanced scorecard. The objectives are aimed at increasing TOI's reach, engagement and monetization through its Twitter account.

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Tarun Gupta
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92 views10 pages

Project Report On: Developing Balance Scorecard Times of India

The document discusses developing a balanced scorecard for Times of India's Twitter strategy. It provides background on TOI and its presence on Twitter. It then outlines the business strategy, proposed strategy map, and key objectives and initiatives within the customers, internal processes, learning & growth, and financial perspectives of the balanced scorecard. The objectives are aimed at increasing TOI's reach, engagement and monetization through its Twitter account.

Uploaded by

Tarun Gupta
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Project Report on Developing Balance Scorecard Times of India

Submitted to: Prof. Sudha Ram Submitted by: Tarun gupta Jubin Goyal Diptesh Mallick Abhinandan Narayan Prachaya Pulak Nakul Bindlish Debasis Sahoo

Contents
About Times of India ..................................................................................................................................... 3 TOI on Twitter ............................................................................................................................................. 3 What they tweet ...................................................................................................................................... 4 Business Strategy of Times of India ...................................................................................................... 5 Strategy Map for Times of India (Twitter)........................................................................................... 6 High Leverage Deliverables (Balance Score Card) ...................................................................... 7 Customers Perspective ............................................................................................................................. 7 Internal Perspective .................................................................................................................................. 8 Learning & Growth Perspective ................................................................................................................ 9 Financial Perspective .............................................................................................................................. 10

About Times of India


Owned and published by Bennet, Colman and Co. Limited, which is owned by Sahu Jain family It is headquartered out of Mumbai, India Largest circulated English newspaper in the world; according to Audit Bureau of Circulations In 2008, TOI got certified as the worlds largest selling English daily and was also ranked as the 3rd largest selling newspaper in any languages Sister newspapers are as follows: o The Economic Times o Navbharat Times o Maharashtra Times o Ei Samay

TOI on Twitter
Joined Twitter on 22nd March 2009 20:27:09 Ranked 2,393 in world by followers Ranked 1st by followers in Delhi Ahead of national competitors in twitter following and ranking o The Hindu : ranked 119,977th in the world by followers o HT : Ranked 5,050th in the world by followers

What they tweet

Business Strategy of Times of India


The Times Group - one of the most respected business houses in the country with a proven track record for media leadership across platforms, spanning 175 years. The Times Group is a long standing leader in the print business, as well as an emerging leader in all other forms of media, including radio, TV, magazines, out of home, and more. Since its inception in 1999, Times Internet has been at the cutting edge of digital innovation in India. Key elements of this strategy are summarized here: Hire Entrepreneurs: Geeks, nerds and other such outcasts who dare to dream insane. The employees act like intrapreneurs. Customer focus: bringing values to the consumers and making them happy is the priority. Trust and Respect: Providing everyone equal power and opportunity to voice their opinion and get their ideas heard.
Source: http://www.timesinternet.in

Some pointers on Generic Business Strategy followed by Times of India: 1. Low cost 24X7 service model. 2. Focus on providing value to the customers by providing timely delivery of news, keeping the frequency of news high, and Giving prompt response to customer complaints. By giving each customer an opportunity to voice his/her opinion equally 3. Differentiation in low end services in terms of cost, resources. 4. Form a strong knowledge management system for timely news aggregation 5. Hire entrepreneurs/freelancers 6. Since last decade, TCS has been following a more focused strategy where they are going as per local needs of customer and their nature of business. E.g. Middle East, Australia. They are being more focused region wise and customer wise rather than being generic.

Source: Industry research by timesinternet.in

Strategy Map for Times of India (Twitter)


The basic strategy map for Times of India consists of 4 major components which include financial, customer, internal & learning and growth perspective. The interaction among these can be described by the diagram below:

High Leverage Deliverables (Balance Score Card)


Customers Perspective

Objectives

Measurement

Target

Initiative

Increase reach of TOI

Number of followers on Twitter

Maintain a follower AGR of 90% *TwitterCounter

Advertise twitter handle in print media and articles

Increase spread of news

No. of tweets TOI RTs(of family handles) No. of TOI tweets RTd

>18% of all daily tweets

Tweet more opinion from TOIBlogs as it increases engagement

Grab more consumer mindshare

Tweet more during peak times

60% of all tweets in a day between 9am-1pm

Have more staff trained to address peak traffic

Internal Perspective

Objectives

Measurement

Target

Initiative

Increase twitter interactivity

No. of tweets replied to

>1% tweets must be replied to in a year. *currently .13%

Have Trained staff

Increase tweet engagement improve topics tweeted about

Measure clicks on tweet links

Increase tweets by 10% on top 3 topics

Tweet more about popular subjects

Improve Accessibility of TOI

Growth rate of twitter followers

Increase followers via mobile at >100% annually

Tie up with mobile companies and content providers

Learning & Growth Perspective

Objectives

Measurement

Target

Initiative

Human Capital

Skills Knowledge Attitude

Improvement in no. of tweets per employee

Improving effectiveness of trainings

Organizational Capital

Culture Leadership Organizational development

Lesser complaints (Trust & Respect)

Quick response to questions Appreciation of each voice

Information Capital

Systems, database, networks

First to deliver every news (10% of news delivered by competitors before)

Better systems and network for faster aggregation of news

Financial Perspective

Objectives

Measurement

Target

Initiative

Increase Ad revenue

Amount earned per ad on website No. of hits/page

Get more hits on website links via tweets

Make links in tweets more prominent

Reduce customer acquisition cost

No. of followers vs Ad spend

Reduce cost by 10%

Contextual ads and mentions in videos

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