3 D Printing The New Industrial Revolution Case Study Solution and Analysis
Introduction
3 D Printing The New Industrial Revolution Case Study Solution is the largest publishing business with a greatest market share in the China's book retail market. CMP has become a specialized info company and a large comprehensive Science and Innovation publishing company through the combination of print media, audio-visual media and the network media.
Vital Concerns
Although, 3 D Printing The New Industrial Revolution Case Study Solution has spent its 60 years journey smoothly, being an effective publishing home, however, the changing macro market trends and forces bring specific difficulties to the publishing industry in general and CMP in specific. These elements consist of;
• Entryway of the brand-new publishing firms in the industry.
• Declining development of the publishing market.
• Market saturation.
• Intro of digital publishing strategies
• Improvement of science and innovation.
The transformation of the macro markets have raised numerous questions to the management at CPM that what could be the future of CMP in this scenario? Do the long important experience, technical resources and the capabilities of the business could be used to strive for the future advancement unceasingly? How could the business sustain its long term competitive position in future?
Situational Analysis
Internal Analysis
SWOT Analysis
Strengths
3 D Printing The New Industrial Revolution Case Study Solution has specific strengths that can be utilized to lower the dangers, conquer the weakness and obtain the chances. Strengths of CMP are given as follows;
• The long term experience of 3 D Printing The New Industrial Revolution Case Study Analysis in the publishing industry i.e. 60 years permits the business to offer high quality products at a lower expense utilizing its prior experiences.
• The technical resources and capabilities generated by its successful journey provide a competitive benefit to CMP.
• Large product portfolioof CMP helps it to diversify its threat and supply high worth to its customers.
• Strong financial position permits the business to think about numerous advancement opportunities with no fear of raising fund externally.
Weak points
In addition to the strengths, the business has specific weak points which might increase restraints for the business in executing its development program. The weak points of 3 D Printing The New Industrial Revolution Case Study Solution are provided as follows;
• Despite of being a science and innovation publishing company, the company still has traditional methods ofpublishing which are not compatible with the growing technological shift.
• CMP extremely relies over the Chinese markets for its growth. It should propose specific growth strategies to avoid its reliance over the Chinese markets to attain long term development.
Opportunities
Although, the development of the publishing market is decreasing considering that 2008, impacting 3 D Printing The New Industrial Revolution Case Study Solution too, but the growth might be restored by availing particular chances presented in the market. The marketplace opportunities for CMP consist of;
• The business might also introduce Digital Publishing by using its long term technical experience and a strong customer acknowledgment in the market.
• CMP could think about an advancement program through the expansion towards foreign markets in order to decrease its dependence over Chinese markets by utilizing its huge funds.
Dangers
The changing macro trends in the market and increasing competition in the publishing market has actually postured certain hazards to 3 D Printing The New Industrial Revolution Case Study Help consisting of;( Gurel, 2017).
• Intro of digital publishing i.e. digital libraries could cause declining market share of 3 D Printing The New Industrial Revolution Case Study Solution due to the customer shift towards virtual libraries.
• The presence of large number of competitors in the publishing market increase the threat for CMP to lose its competitive position in the market, as competitors can gain a strong customer base by using specific techniques like aggressive promotion, quality products, etc.
• Entryway of brand-new publishing firms in the market along with existence of high competitors increases the hazard of losing the client base.
Monetary Analysis.
Due to lack of information, the financial ratios of CMP could not be computed. It might be examined from the Appendix III that the yearly total profits of 3 D Printing The New Industrial Revolution Case Study Help during the period 2000-2012 are growing at a high growth rate, showing that the yearly need of the items of CMP is growing and the company is quite efficient in bring in a large number of clients at a prospective price.
In addition to it, the second graph which shows the yearly growth in the 3 D Printing The New Industrial Revolution Case Study Help overall properties, reveals that the company is quite efficient in adding value to its properties through its profits. The development in assets reveals that the total worth of the firm is also increasing with increasing the overall incomes. (Unidentified, 2013).
Another monetary analysis of the business using the provided data might be the analysis regarding the circulation of overall profits of the business. Major part of the revenues of CMP comes from the sales of its released books i.e. 64% as shown in the Case Appendix V. The company might move towards other service segments with a prospective development to achieve its future development goal.
PESTEL Analysis
PESTEL analysis could be carried out to discover the different external forces affecting the efficiency of the company and the recent patterns in the external environment of the business. A short PESTEL analysis of the company is given as follows; (Alanzi, 2018).
Political.
As the publishing sector could have a significant effect on the state of mind of individuals about the communist ideology of the government, for that reason, the publishing sector is extremely supervised and directed by the Promotion Department of the Communist Party of China. For that reason, it could be stated that the general political forces impacting 3 D Printing The New Industrial Revolution Case Study Help organisation are high. The federal government policies relating to the publishing sector are also increasing with the passage of time.
Economical.
Economic forces impacting the publishing sector in basic and the CMP in specific includesthe costs of paper, the earnings level of customers, the inflation rate, and the general GDP growth of the nation. All these forces integrate impact the need for the publishing market.
Social and Demographical.
The consumer preferences are shifting towards digital publishing rather than the conventional was of publishing. In this regard, CMP should focus on digital publishing to meet the altering customer choices.
Technological.
Technological forces affecting the CMP include the technological advancement in the reading strategies etc. Enhancement of science and innovation together with the rise of digital publishing could decrease the need for the CMP products, if certain actions would not be taken soon.
Environmental.
Environmental forces affecting 3 D Printing The New Industrial Revolution Case Study Analysis includes the issues of ecological neighborhoods over the usage of paper in publishing books. The paper used in the books while publishing is required to be disposable and the ink used while publishing must not be damaging for the environment.
Legal.
Legal policies for the publishing sector at whole are high. Publishing Regulation 1997 requires the publishers to be authorized initially by the Government to be entered in the publishing market.
Industry Analysis (Porter's Five Forces Design).
Porter's Five Forces Model could be used to examine the beauty of the publishing market China. A quick analysis of the Porter's Five Forces is given as follows;.
Threat of New Entrants.
Dangers of new entrants in the Chinese Publishing Industry is moderate. The possible development in the market tends to attract brand-new entrants to the publishing market. The presence of extreme competition and the requirement of big capital tends to demotivate brand-new entrants to go into in the market.
Risk of Substitution.
Hazard of Substitution is high for the Chinese Publishing Industry. The replacement items for the published documents is the documents presented in the digital libraries on particular sites. The altering consumer choices towards digital knowing increase the hazard of alternative for the market.
Competitive Competition.
Competitive rivalry in the publishing market is high. The existence of large number of consumers in the Chinese Publishing Market like CIP, PTP etc. tends to produce high competitive rivalry for CMP. Together with it, brand-new entrants are likewise participating in the market increasing the competitors for CMP.
Bargaining Power of Supplier.
The major suppliers of the 3 D Printing The New Industrial Revolution Case Study Help consist of the providers of the paper for releasing documents. As CMP is the largest publisher in the Chinese Publishing Market, for that reason the general bargaining power of provider for CMP is low.
Bargaining Power of Buyer.
Haggling power of purchaser in the publishing industry is high. Due to the presence of a large number of publishers in the Chinese market and the market saturation, the purchasers needs high quality files at competitive rates.
Competitors Analysis.
CMP operates in a highly competitive market with the existence of large number of competitors. The company has a competitive position in the market with the greatest market share in the Chinese publishing market. Significant competitors of 3 D Printing The New Industrial Revolution Case Study Analysis consist of;.
• Chemical Industry Press (CIP).
• Posts and telecommunication Press (PTP).
Chemical Industry Press (CIP).
CIP acts as a risk for CMP as it might wean its market share due to its long term competitive background. CIP is focused on digital publishing and might wean the market share of CMP easily in the current market scenario.
Posts and telecommunication Press (PTP).
Another close rival of CMP is PTP. It was likewise established in the same period as CMP and CIP. It ranks sixth in the state-owned publishers in regards to organisation scale. It is also one of the popular gamers in the publishing market with an annual overall revenues of RMB 550 million in 2010.
Alternatives
Alternative-1: Expand towards New Markets
Pros
• Lowering reliance over the Chinese markets.
• Increasing variety of Clients
• Growth chances.
• Preventing the effect of market saturation in the Chinese publishing market.
Cons
• Usage of possible resources in growth.
• Threat of failure in brand-new markets.
• Time consuming.
Alernative-2: Introduce Digital Publishing
Pros
• Sustaining consumer base.
• Approaching brand-new markets.
• Easy to present utilizing existing capabilities.
• Low threat of Failure.
• Low requirement for funds.
• Increased product portfolio supplies high value to clients.
Cons
• Competition in the market by CIP, who has prior focus on the digital publishing.
• Shift of focus from the core service segments to the brand-new one can lead the business to lose need of its products in the market.
Recommendations
As the preferences are shifting towards digital publishing and the company require an instant solution to prevent the decreasing industry development. The business might also think about the expansion program after the success of its digital publishing program.
Implementation
In order to present digital publishing in its product portfolio, the business should first collects the data related to the consumer need, the possible markets, the federal government regulations and the information related to the competitors presented in the market. If the preliminary offering shows a success, the business needs to go for the other markets. In this method the company would be able to execute its digital publishing program.
Conclusion
Although, the growth of the publishing industry is decreasing considering that 2008, showing a risk to the business's long term existence, however the situation can be controlled by thinking about an advancement strategy in the future. The business could consider introducing digital publishingin its existing market to implement its advancement program at immediate basis and to prevent the threat of failure for entrance in the brand-new markets.
