Knowledge@Wharton has a recent blog post on the challenges ahead for Yahho. The article titled “The Morse code at Yahoo” explores what the new/interim CEO needs to do to revive Yahoo.

Carol Bartz was aggressive early on with restructuring and downsizing, but she never successfully positioned herself as an innovative CEO who is seeking to bring new products and services to consumers. She once compared her job to that of Steve Jobs when he returned to Apple in 1997. Yet, what was missing was that innovative streak in Jobs wherein a great new exciting product was rolled out every few years.

So what does Yahoo need to do. As we all know, go find a new product/market that makes a difference to its topline. Hopefully, Yahoo does not waste time & effort trying to catch up with google at search/email or compete with facebook in social networking. And hopefully, Yahoo can find the next big thing. Or acquire it early.