Penguin Books: Introduction To Modern Business
The aim of this essay is to comment on how, over the last six years
Penguin Books Limited has grown and managed external and internal changes.
Sixty one years ago, Allen Lane, the managing director of the Bodley
Head, a British publishing company, revolutionised reading with the introduction
of the first ten Penguin paperbacks. Today, over 600 million paperbacks are sold
yearly. At a time when there was still little of entertainment, paperback books
brought reading to the masses. Nowadays, paperback books bring reading to the
world.
During the last six years (1990-1996) Penguin Books Limited was faced
with many "environmentalist pressures," with a continuous change inside the
company, ...
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the Penguin Classics, Arkana, the New Age list and Fantail,
the mass-market children's list were introduced.
Internal change that took place during that year was the closing down of
the Penguin Bookshops (that expanded to include 12 shops during the last decade),
leaving just one, the specialist Beatrix Potter "House of the Tailer of
Gloucester", within the Group. This change took place due to the fact that the
Company was conscious that it had to concentrate on the publishing rather than
on the retail.
This decision brought a successful completion of a management buy-out of
the shops. This action also compensated the loss that the Company faced in
august 1991, when Pearson (an international enterprise quoted on the London
Stock Exchange with major media interests including many well-known names apart
from Penguin, such as Longman, Pitman, Addison Wesley, the Financial Times,
Westminster Press, Mindscape, Thames TV and Madame Tussauds) announced pre-tax
profits of Pounds ...
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The Bookseller
magazine.
In the next months it was seen how different publishers were competing
in their own different ways. Penguin and Wordsworth Editions declared a price
war selling paperback classics for Pounds 1 each. These "up-market" or "down-
market" were the ways of selling literature.
In September 1994 Pearson brought a new change by announcing that
publishing should be grouped by theme. As the result, entertainment- Ladybird
Books, the children's publisher was added to Penguin and became a subsidiary of
the Penguin Group. As an outcome, Penguin's world-wide business showed revenues
of about Pounds 370m.
A major change took place in September 1995, when the official ...
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"Penguin Books: Introduction To Modern Business." Essayworld.com. Essayworld.com, 21 Apr. 2006. Web. 23 Nov. 2024. <http://www.essayworld.com/essays/Penguin-Books-Introduction-To-Modern-Business/44715>
"Penguin Books: Introduction To Modern Business." Essayworld.com. April 21, 2006. Accessed November 23, 2024. http://www.essayworld.com/essays/Penguin-Books-Introduction-To-Modern-Business/44715.
"Penguin Books: Introduction To Modern Business." Essayworld.com. April 21, 2006. Accessed November 23, 2024. http://www.essayworld.com/essays/Penguin-Books-Introduction-To-Modern-Business/44715.
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