The hard bit is to be able to say to the Board that at least some of the business will be disintermediated and it is better to join in that resist.
If you are Microsoft, cosy up to the Open Source movement; if you are W H Smith, offer e-books. The alternative is the Tower record solution offered by Chris Anderson this week:
Mike at TechDirt describes what led to this end:
See what I mean....
While other record stores began to recognize that that they needed to completely revamp their business -- from becoming combination music/dance clubs and stores to starting their own record labels or becoming "destinations" rather than just stores -- Tower Records leadership insisted that the web "is certainly never going to take the place of stores."
PR has to knock on the door and say: Soacial Media is going to change our business - can we look long and hard at how and at waht wen need to do.
This is big budget stuff and not the back of an envelope muse.