1. Visions, Missions and Values
Unit 8 – Creative Media Industry Awareness
Aims
1. To understand the Visions, Missions and Values of
specific companies and why they exist.
2. To understand how a creative media company is
funded governed and regulated.
Objectives
1. Produce a ‘New Entry Booklet’ for a fabricated
creative media company.

2. Visions, Missions and Values
• What are visions, missions and values?
• What might you find in them?
Visions
• Describe the long term ambition of a company (5-10
years)
• Expansion
• Target turnover figures
• National and international markets
• Vision is about what a company intends to be

3. Visions, Missions and Values
Missions
• Mission statements describe the organisation’s
current purpose, products, core values and aims
Values
• Core values of an organisation relate to its business
ethics, conduct and philosophies
• Why are visions, missions and values important to a
company?

4. TASKS
1. Read through the visions, missions and
values supplied and pair them with a
creative media company
2. Read through the remits statements and
pair them with the corresponding BBC
channels
3. Write the visions, missions and values for
a media company of your choice – you
don’t have to like them…

5. Funding, Governance and
Regulation
Private Ownership / Funding
• Owned by an individual, a small group of people or stakeholders
• Main purpose is to survive and be profitable in a marketplace
• Single Enterprise – usually small scale, one owner, limited to one
business
• Chain Ownership (horizontal integration) – numerous companies
in the same business occupy different media market places
(newspapers, radio, TV)
• Conglomerate Ownership – HUGE companies with many smaller
subsidiary firms
• Only need one stakeholder to create a Private Limited Company

6. Examples of UK Private
Media Companies
• Guardian Media Group (GMG)
– Manchester Evening
News, Smooth FM, Century FM
• Profit £305m (sale of 49%
stake in Trader Media Group)
• Founded in 1821 with the birth
of The Manchester
Guardian, founded by John
Edward Taylor
• Recently seen operating losses
in print and radio

7. Examples of UK Private
Media Companies
• Northern & Shell (Richard
Desmond) – The Daily and
Sunday Express, Channel
5, Television X
• Founded in 1974 when
Desmond created
International Musician and
Recording World
• Desmond is reportedly
worth around £1bn

8. Examples of UK Private
Media Companies
• The Economist Group –
The Economist, Intelligent
Life
• Owned by Pearson PLC
(through the Financial
Times)
• Made nearly £68m in
2012
• On of the UK’s most
profitable publications

9. Private Media Companies
Pros Cons
• Not accountable to • More difficult to find
shareholders therefore capital
have more freedom
• Less input from others
• Not under as much may be counter
scrutiny productive
• You can own property in • Smaller company so
the name of the company ceiling is a lower for
employees
• Smaller amount of
employees so better • May not provide a
relationship with director balanced range of
products

10. Public Limited Companies
• Public company whose shares are sold free on the stock
exchange
• Can only loose to amount of shares that you put in
• A company needs two directors in order to become a PLC
• Costs a lot to float a company on the stock exchange
• Usually BIG companies
• Need two stakeholders to create a PLC
• Company directors accountable to stakeholders

11. Examples of PLCs
• Virgin Media Inc.
• Total assets = £8b
• Formed as a merger between
NTL, Telewest and Virgin
Mobile
• Employs 15,000
• Bought by Liberty Global for
£19b
• Subsidiary of Richard Banson’s
Virgin Group Ltd

12. Pros and Cons of PLCs
Pros Cons
• Limited Liability for • More difficult to set up
stakeholders than a private
company
• Opportunity to raise capital by
issuing shares • Would have to share
profits with
• Easier to sell than a sole shareholders
trader
• Less say –
• May appear more professional shareholders have an
and credible input
• Taxed heavily

13. Publically Funded, State
Owned
• Funded by the public through
either a tax or a fee
• Not a ‘competitive’ business
• Aims to serve the nations
interests
• Good example is the
BBC, paid for by the licence
fee.
www.bbc.co.uk/historyofthebbc/wherenext • Employs over 23,000 people
• Revenues of £5b

14. Charities / Non-profit
Organisations
• Run often by volunteers
• Student companies
• Community radio stations
• May be used to promote a
charity or charities
• Still regulated by relevant
bodies
• Sometimes operate illegally
(pirate radio stations)

15. Governance
Board of Directors
• Often chosen by the shareholders
• Direct company business
• Made up or executive (those paid to direct the company) and non-
executive directors (those not paid but offer advice)
• Usually a top-down approach (CEO – President – Directors –
Chairman…)
Committee
• Play an advisory role in terms of finance, legality etc
• Can be paid or un-paid
BBC Trust
• Governs the BBC on behalf of the public
• Makes sure the BBC sticks to its visions, missions and values
• Work independently from the Executive Board, which is headed by
the Director General

16. Regulation
• Ofcom (Office of Communications):
Regulate the TV and radio sectors, fixed
line telecoms, mobiles, postal
services, plus the airwaves over which
wireless devices operate
• Operates under the Communications Act
of 2003
• Ensure the UK has a wide range of
communication services
• Protect people from harmful of offensive
material
• Protect people on television from being
unfairly treated and having their privacy
invaded
• Make sure television and radio are
provided by a number of organisations

17. Regulation
• BBFC (British Board of Film
Classification: Age ratings body for
film, video games, theatre, DVD and
video
• Protect the public, and especially
children, from content which might raise
harm risks
• Respond to and reflect changing social
attitudes towards media content through
proactive public consultation and
research
• Provide an effective service to
enforcement agencies
• Work also as an educational body
• Accountable to Parliament
• Part-funded by industry, part-funded by
the Government

18. Regulation
• PPC (Press Complaints Commission): A regulatory body that oversees the
publishing industry
• Deals with complaints, framed within the terms of the Editors' Code of
Practice, about the editorial content of newspapers and magazines (and
their websites, including editorial audio-visual material) and the conduct of
journalists.
• The purpose of the PCC is to serve the public by holding editors to account.
• They strive to protect the rights of individuals, while at the same time
preserving appropriate freedom of expression for the press.
• Being overhauled on the back of the Leverson Report.

19. Regulation
• BSC (Broadcasting Standards Commission): Works under the Broadcast Act of 1996
• Statutory body for both standards and fairness in broadcasting
• The only organisation within the regulatory framework of UK broadcasting to cover all
television and radio, both terrestrial and satellite
• 1. to produce codes of conduct relating to standards and fairness;
2. to consider and adjudicate on complaints;
3. to monitor, research and report on standards and fairness in broadcasting
• Now part of Ofcom

20. Regulation
• ASA (Advertising Standards Authority):
Regulates advertising across all media
• Independent regulatory body who work
under the Advertising Codes
• Being an effective part of the response to
societal issues shown to be affected by
advertising
• Place more emphasis on prevention
rather than cure
• Investigate and adjudicate on potential
breaches of the Advertising Codes
• Monitor compliance with the rules of the
Advertising Codes