Launch of Future of Media: Strategy Tools framework
The third key framework from Future of Media Report 2008 (after Future of the Media Lifecycle and 7 Driving Forces Shaping Media) is the Future of Media: Strategy Tools framework.
This lays out three of the most valuable tools for building strategy in the media and adjacent industries. The high-level overviews are intended to provide some useful introductions to relevant strategy tools for those engaged in the front-line of creating and implementing strategies in an extraordinarily dynamic environment.
Flow Economy Framework
The central framework used here is the Flow Economy framework that I first described in Chapter 7 of Living Networks (free download of chapter 7 of Living Networks here).
The chart gives an overview of the process of using the Flow Economy framework for media strategy, illustrated by brief examples of the strategies adopted by Apple, BSkyB, and NTT DoCoMo.
Scenario Planning for Media
A high-level example of the scenario planning process is described as applied to media, together with a scenario framework that is particularly relevant in the current environment.
Game Theory: Strategies for Openness
Traditional approaches to strategy are having to change as the industry landscape moves at a rapid pace to openness. One of the most powerful tools available to address these issues is game theory.