Digital transformation strategy for print newspapers: A Conceptual Framework

Abstract

The study examined the impact of migration to digital platforms as a source of news and information on Zimpapers’ Newspaper Division financial performance. The objectives were to assess factors that are influencing the migration to online news platforms away from print; to analyze the effect of digitalisation on revenue performance of Zimpapers’ Newspaper Division; to evaluate the effect of digitalisation on the cost efficiency of Zimpapers Newspaper Division; to examine the impact of digitalisation on Zimpapers Newspaper Division’s profitability. The main objective was, however, to develop a digital transformation framework for print newspapers that can be used to improve financial performance. The study was theoretically guided by the Technology Acceptance Model (TAM), Resource Based View (RBV) theory Pillars of Digital Transformation Framework, and the Planned Change Theory. The study adopted a pragmatism philosophy as well as employ a mixed approach to enable the testing of hypotheses and information probing. An explanatory survey design was employed to explain how digitalisation affects the financial performance of Zimpapers Newspaper Division. The study targeted Zimpapers employees and management. Questionnaires and structured interviews were the data instruments. Stratified random sampling was used to select the respondents for the questionnaire while for interviews purposive sampling method was used. Data was analysed through descriptive and inferential statistics generated from SPSS. Interviews were analysed qualitatively through thematic content analysis. Findings showed that there is need to develop a digital transformation strategy framework that includes retraining and upskilling of employees; investment in modern technologies and modern platforms in order to enhance the financial performance of Zimpapers' Newspaper Division. In other words, migration to online media platforms by readers and advertisers negatively impacted on Zimpapers Newspaper Division's financial performance. Preliminary findings are also showing that there is need to develop a framework that covers all aspects of the business from human capital, systems and products to enhance the financial performance of Zimpapers' Newspaper Division.