Performance of Pearson PLC

Full Answer Section

Issues and Outcomes

Issues: Pearson's traditional model heavily relies on textbooks and educational materials distributed through institutions. This approach faces challenges including:

• Declining textbook sales due to rising digital alternatives [1].
• Increased competition from online learning platforms.
• Difficulty reaching individual learners with personalized solutions.

Outcomes: These issues result in:

• Stagnant revenue growth.
• Difficulty attracting new customer segments.
• Decreased market share in the evolving educational landscape.

Driving Forces and Contributing Issues

External Drivers:

• Growth of e-learning platforms and personalized learning solutions [2].
• Increasing demand for flexible and accessible learning options.
• Changing consumer preferences towards digital resources.

Internal Drivers:

• Pearson's existing digital assets like Pearson+ and Mondly acquisition [3].
• Need to diversify revenue streams and capture a larger market share.
• Recognition of the potential for innovation and growth in the D2C space.

Contributing Issues:

• Internal resistance to change within legacy business models.
• Difficulty integrating existing products and services into a cohesive D2C platform.
• Lack of dedicated resources and skilled personnel for D2C marketing and development.

Stakeholder Analysis

• Employees: Change may bring initial anxieties, but reskilling and upskilling opportunities can increase job security and career growth.
• Investors: D2C expansion represents a potential for increased profitability and market value.
• Institutions: Strong partnerships can ensure continued collaboration and integration with curriculum needs.
• Students: Improved access to personalized learning resources and increased educational attainment benefits students most.
• Government/Education Policy: Aligning with evolving policies towards digital learning can create collaboration opportunities.

This change initiative will positively impact all stakeholders by contributing to Pearson's long-term success and ensuring the provision of accessible and effective learning solutions.

Sample Solution

Change Initiative for Pearson PLC: Embracing the Future of Learning through Direct-to-Consumer (D2C) Expansion

Purpose Statement: This paper proposes a change initiative for Pearson PLC, focusing on expanding its Direct-to-Consumer (D2C) offerings. It utilizes Kotter's 8-Step Change Model to address the need for Pearson to adapt to the evolving educational landscape and capitalize on the growing D2C market.

Introduction

Pearson PLC, a leading education company, faces challenges in a rapidly changing market. The rise of online learning platforms and the evolving needs of learners necessitate a strategic shift. This paper proposes a change initiative focusing on expanding Pearson's D2C offerings, allowing for a more personalized and accessible learning experience for students.

The following sections will:

1. Discuss issues in Pearson's current approach and their outcomes.
2. Analyze internal and external drivers for change.
3. Evaluate stakeholders and their potential impact.
4. Define the role of the change leader and leadership theories employed.
5. Recruit change agents and outline their roles.
6. Develop a change plan using Kotter's 8-Step Change Model.
7. Identify and address potential barriers to change.
8. Describe evaluation methods to assess success.
9. Propose strategies to anchor and support continuous D2C growth.
10. Analyze how this plan aligns with Pearson's mission and benefits stakeholders and society.