Blue Man Group Creativity Life And Business Video Case Study Solution and Analysis
Introduction
Blue Man Group Creativity Life And Business Video Case Study Analysis is the largest publishing business with a highest market share in the China's book retail market. CMP has ended up being a specialized info supplier and a big detailed Science and Innovation publishing company through the combination of print media, audio-visual media and the network media.
Critical Concerns
Although, Blue Man Group Creativity Life And Business Video Case Study Solution has invested its 60 years journey efficiently, being an effective publishing home, nevertheless, the altering macro market patterns and forces bring particular difficulties to the publishing market in general and CMP in particular. These factors include;
• Entrance of the new publishing firms in the industry.
• Decreasing growth of the publishing market.
• Market saturation.
• Intro of digital publishing strategies
• Enhancement of science and innovation.
The improvement of the macro markets have raised a number of 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 utilized to pursue the future development unceasingly? How could the company sustain its long term competitive position in future?
Situational Analysis
Internal Analysis
SWOT Analysis
Strengths
Blue Man Group Creativity Life And Business Video Case Study Analysis has particular strengths that can be made use of to minimize the dangers, get rid of the weakness and obtain the opportunities. Strengths of CMP are provided as follows;
• The long term experience of Blue Man Group Creativity Life And Business Video Case Study Analysis in the publishing market i.e. 60 years allows the business to provide high quality products at a lower cost using its previous experiences.
• The technical resources and abilities generated by its successful journey offer a competitive benefit to CMP.
• Large item portfolioof CMP assists it to diversify its threat and supply high value to its consumers.
• Strong financial position permits the business to consider numerous development opportunities with no fear of raising fund externally.
Weaknesses
Along with the strengths, the company has specific weaknesses which might increase restraints for the company in executing its advancement program. The weaknesses of Blue Man Group Creativity Life And Business Video Case Study Analysis are offered as follows;
• Despite of being a science and innovation publishing company, the business still has conventional methods ofpublishing which are not suitable with the growing technological shift.
• CMP highly relies over the Chinese markets for its development. It needs to propose particular growth strategies to prevent its reliance over the Chinese markets to attain long term development.
Opportunities
The growth of the publishing market is declining given that 2008, impacting Blue Man Group Creativity Life And Business Video Case Study Solution as well, but the growth could be revived by availing particular opportunities presented in the market. The market opportunities for CMP consist of;
• The company could also introduce Digital Publishing by utilizing its long term technical experience and a strong client recognition in the market.
• CMP could consider an advancement program through the expansion towards foreign markets in order to decrease its dependence over Chinese markets by using its vast financial resources.
Hazards
The changing macro trends in the market and increasing competitors in the publishing industry has postured certain hazards to Blue Man Group Creativity Life And Business Video Case Study Help including;( Gurel, 2017).
• Intro of digital publishing i.e. virtual libraries might lead to declining market share of Blue Man Group Creativity Life And Business Video Case Study Help due to the customer shift towards virtual libraries.
• The existence of large number of competitors in the publishing market increase the threat for CMP to lose its competitive position in the market, as rivals can acquire a strong customer base by utilizing specific techniques like aggressive promotion, quality items, etc.
• Entrance of new publishing companies in the market along with presence of high competition increases the threat of losing the client base.
Financial Analysis.
The business has a quite competitive monetary performance. Due to absence of data, the financial ratios of CMP might not be computed. Nevertheless, the overall financial efficiency of the business could be evaluated by using the graphs given up the case Appendices. It could be evaluated from the Appendix III that the annual overall revenues of CMP throughout the period 2000-2012 are growing at a high development rate, showing that the annual need of the products of Blue Man Group Creativity Life And Business Video Case Study Analysis is growing and the company is quite effective in drawing in a a great deal of customers at a potential cost.
Along with it, the second chart which reveals the yearly growth in the Blue Man Group Creativity Life And Business Video Case Study Help total assets, reveals that the company is rather efficient in adding worth to its possessions through its incomes. The growth in properties shows that the overall value of the company is also increasing with increasing the total incomes. (Unidentified, 2013).
Another financial analysis of the company utilizing the offered information might be the analysis concerning the circulation of overall earnings of the company. Huge part of the revenues of CMP comes from the sales of its published books i.e. 64% as shown in the Case Appendix V. The business could move towards other business sectors with a possible development to accomplish its future advancement goal.
PESTEL Analysis
PESTEL analysis might be carried out to find out the different external forces affecting the efficiency of the company and the current trends in the external environment of the company. A quick PESTEL analysis of the business is provided as follows; (Alanzi, 2018).
Political.
As the publishing sector could have a considerable effect on the mindset of individuals about the communist ideology of the government, for that reason, the publishing sector is extremely supervised and assisted by the Publicity Department of the Communist Party of China. It might be said that the general political forces impacting CMP service are high. The government policies regarding the publishing sector are likewise increasing with the passage of time.
Economical.
Economic forces affecting the publishing sector in basic and the CMP in particular includesthe costs of paper, the earnings level of consumers, the inflation rate, and the overall GDP growth of the nation. All these forces integrate effect the demand for the publishing market.
Social and Demographical.
The consumer preferences are moving towards digital publishing rather than the traditional was of publishing. In this regard, CMP needs to focus on digital publishing to satisfy the changing customer preferences.
Technological.
Technological forces impacting the CMP include the technological advancement in the reading strategies etc. Improvement of science and innovation along with the rise of digital publishing might minimize the demand for the CMP items, if certain actions would not be taken quickly.
Environmental.
Ecological forces affecting Blue Man Group Creativity Life And Business Video Case Study Solution consists of the issues of environmental communities over the use of paper in publishing books. The paper utilized in the books while publishing is required to be non reusable and the ink utilized while publishing must not be damaging for the environment.
Legal.
Legal policies for the publishing sector at whole are high. Publishing Ordinance 1997 requires the publishers to be authorized initially by the Government to be entered in the publishing market.
Industry Analysis (Porter's 5 Forces Design).
Porter's Five Forces Model might be utilized to evaluate the appearance of the publishing market China. A brief analysis of the Porter's Five Forces is provided as follows;.
Hazard of New Entrants.
Threats of new entrants in the Chinese Publishing Market is moderate. The potential growth in the market tends to draw in brand-new entrants to the publishing industry. The presence of extreme competition and the requirement of huge capital tends to demotivate new entrants to go into in the market.
Risk of Substitution.
Danger of Replacement is high for the Chinese Publishing Market. The replacement items for the published documents is the documents presented in the digital libraries on particular websites. The altering customer choices towards digital knowing increase the danger of replacement for the market.
Competitive Rivalry.
Competitive rivalry in the publishing industry is high. The presence of a great deal of customers in the Chinese Publishing Industry like CIP, PTP etc. tends to produce high competitive competition 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 Blue Man Group Creativity Life And Business Video Case Study Solution consist of the suppliers of the paper for releasing documents. As CMP is the largest publisher in the Chinese Publishing Market, for that reason the overall bargaining power of supplier for CMP is low.
Bargaining Power of Buyer.
Haggling power of buyer in the publishing market is high. Due to the presence of a large number of publishers in the Chinese market and the market saturation, the purchasers requires high quality documents at competitive rates.
Competitors Analysis.
CMP operates in an extremely competitive industry with the presence of a great deal of competitors. The business has a competitive position in the market with the highest market share in the Chinese publishing market. Significant competitors of Blue Man Group Creativity Life And Business Video Case Study Solution consist of;.
• Chemical Industry Press (CIP).
• Posts and telecommunication Press (PTP).
Chemical Market Press (CIP).
CIP acts as a danger 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 quickly in the current market situation.
Posts and telecommunication Press (PTP).
It was also founded in the same duration as Blue Man Group Creativity Life And Business Video Case Study Analysis and CIP. It is also one of the prominent gamers in the publishing market with an annual total incomes of RMB 550 million in 2010.
Alternatives
Alternative-1: Broaden towards New Markets
Pros
• Decreasing reliance over the Chinese markets.
• Increasing variety of Customers
• Growth opportunities.
• Preventing the effect of market saturation in the Chinese publishing industry.
Cons
• Use of possible resources in growth.
• Danger of failure in new markets.
• Time consuming.
Alernative-2: Present Digital Publishing
Pros
• Sustaining customer base.
• Approaching brand-new markets.
• Easy to present using present capabilities.
• Low risk of Failure.
• Low requirement for funds.
• Increased product portfolio supplies high value to clients.
Cons
• Competitors in the market by CIP, who has prior focus on the digital publishing.
• Shift of focus from the core organisation sections to the new one can lead the business to lose need of its products in the market.
Suggestions
With the deep analysis of the external and internal environment of the company along with the market analysis and the competitor analysis, Alternative 2 is advised to CMP to accomplish its future advancement. As the choices are moving towards digital publishing and the business need an instant solution to avoid the declining market development. For that reason, intro of digital publishing might prove to be an instant solution with low amount of danger for the company. Nevertheless, the company might also think about the expansion program after the success of its digital publishing program.
Application
In order to present digital publishing in its item portfolio, the business ought to first collects the data related to the customer need, the potential markets, the government guidelines and the data related to the rivals presented in the market. If the initial offering proves a success, the company must go for the other markets. In this method the business would be able to execute its digital publishing program.
Conclusion
Although, the development of the publishing market is decreasing because 2008, revealing a threat to the business's long term presence, however the situation can be managed by thinking about a development plan in the future. The business could consider introducing digital publishingin its existing market to implement its advancement program at immediate basis and to avoid the threat of failure for entryway in the brand-new markets.
