Hearst is a $5 billion dollar 130 Year young media company that has successfully transformed itself into a digital powerhouse. They have over 300 jobs open many of which are in the new digital economy.
85% of the employees approve of the CEO and 2/3 would recommend working there to a friend. This compares with only 50% of the $2 billion Houghton Mifflin company employees liking what their CEO is doing and being willing to recommend working there to a friend.
Houghton Mifflin Harcourt, founded as Houghton Mifflin in 1832, is a US educational and trade publisher. Houghton Mifflin Harcourt publishes textbooks, instructional technology materials, assessments, reference works, and fiction and non-fiction for both young readers and adults.
Founded in 1887 in San Francisco, The Hearst Corporation owns 15 daily and 34 weekly newspapers, including the Houston Chronicle, San Francisco Chronicle, San Antonio Express-News and Albany Times Union; hundreds of magazines around the world, including Good Housekeeping, Cosmopolitan, ELLE and O, The Oprah Magazine; 29 television stations, which reach a combined 18 percent of U.S. viewers; ownership in leading cable networks, including Lifetime, A&E, HISTORY and ESPN; significant holdings in automotive, electronic and medical/pharmaceutical business information companies; a majority stake in global ratings agency Fitch Group; Internet and marketing services businesses; television production; newspaper features distribution; and real estate.
In 2010 Hearst launched Hearst Innovation, a company-wide program designed to be a catalyst for business growth, creativity and communication throughout the Corporation. Key objectives of the initiative were to create new businesses, increase collaboration and to encourage a culture of innovation.
Philip Wiser, CTO of Hearst, states that the biggest problem holding back innovation, the lack of agility, is caused by misunderstandings within the organization. Often, these misunderstandings result from adhering to convention and restrictions within a legacy company.
Wiser cites 5 key drivers of innovation within Hearst:
- Customer Focus
- Cloud computing
Wiser stated that one of the board members at Hearst shared his vision for an agile environment. Having the go ahead from senior management is key, and that allows for an innovative environment.
“Walk in with an idea of the market, product concept, and a prototype. And build it before you go through all that deep analysis.”