Penguin Books: Introduction To Modern Business

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Term Paper Title	Penguin Books: Introduction To Modern Business
# of Words	1284
# of Pages (250 words per page double spaced)	5.14

Penguin Books: Introduction to Modern Business

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, and competitors trying to imitate its successful innovations on both
sides of the Atlantic.
     The major achievement in 1990 was the introduction of a new computer
system into several parts of the Company. The Credit Control department was the
first area and Stock Management, Invoicing Systems, Warehousing, Distribution
and Sales Services followed. Now the whole of the Company's systems are
incorporated and networked.
     During this period a new lists including the Twentieth Century Classics
Series complementing 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 40.7m for the first half of 1991- a drop of 58 per cent on the
same period of 1990. In this period books fell from a trading profit of Pounds
2.1m to a loss of Pounds 13.4m with Penguin losing Pounds 8m....

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