Drilling Safety At Bp The Deepwater Horizon Accident Case Study Solution and Analysis
Introduction
Drilling Safety At Bp The Deepwater Horizon Accident Case Study Solution is the largest publishing business with a highest market share in the China's book retail market. CMP offers a variety of services consisting of; gathering info, processing details and communication services. Major service sectors of the company consist of; books, regulars, consultancy and distribution. The company has a huge item portfolio and its major items include books, regulars, online media, exhibitions, research reports and so on. Drilling Safety At Bp The Deepwater Horizon Accident Case Study Solution has become a specialized information provider and a large extensive Science and Innovation publishing business through the integration of print media, audio-visual media and the network media.
Crucial Concerns
Although, Drilling Safety At Bp The Deepwater Horizon Accident Case Study Analysis has spent its 60 years journey efficiently, being a successful publishing house, nevertheless, the altering macro market trends and forces bring certain difficulties to the publishing market in basic and CMP in particular. These elements consist of;
• Entryway of the new publishing firms in the market.
• Declining development of the publishing market.
• Market saturation.
• Introduction of digital publishing methods
• Improvement of science and technology.
The improvement of the macro markets have raised numerous questions to the management at CPM that what could be the future of CMP in this situation? Do the long valuable experience, technical resources and the capabilities of the company could be used 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
Drilling Safety At Bp The Deepwater Horizon Accident Case Study Solution has specific strengths that can be utilized to lower the hazards, conquer the weak point and get the opportunities. Strengths of CMP are given as follows;
• The long term experience of Drilling Safety At Bp The Deepwater Horizon Accident Case Study Analysis in the publishing market i.e. 60 years permits the company to offer high quality products at a lower expense using its previous experiences.
• The technical resources and capabilities produced by its effective journey offer a competitive benefit to CMP.
• Huge product portfolioof CMP helps it to diversify its threat and supply high value to its clients.
• Strong financial position permits the business to think about numerous development opportunities with no worry of raising fund externally.
Weak points
Along with the strengths, the company has particular weak points which might increase restraints for the company in executing its development program. The weaknesses of Drilling Safety At Bp The Deepwater Horizon Accident Case Study Analysis are offered as follows;
• Despite of being a science and innovation publishing company, the business still has standard methods ofpublishing which are not suitable with the growing technological shift.
• CMP highly relies over the Chinese markets for its development. It must propose certain growth plans to avoid its dependence over the Chinese markets to achieve long term growth.
Opportunities
Although, the growth of the publishing market is decreasing considering that 2008, impacting Drilling Safety At Bp The Deepwater Horizon Accident Case Study Solution as well, but the development could be revived by availing certain chances presented in the market. The marketplace chances for CMP include;
• The company could likewise introduce Digital Publishing by utilizing its long term technical experience and a strong customer acknowledgment in the market.
• CMP could consider a development program through the growth towards foreign markets in order to minimize its reliance over Chinese markets by utilizing its large financial resources.
Risks
The altering macro trends in the market and increasing competition in the publishing industry has actually postured specific dangers to Drilling Safety At Bp The Deepwater Horizon Accident Case Study Solution consisting of;( Gurel, 2017).
• Introduction of digital publishing i.e. digital libraries might result in declining market share of Drilling Safety At Bp The Deepwater Horizon Accident Case Study Solution due to the customer shift towards virtual libraries.
• The existence of a great deal of competitors in the publishing industry increase the threat for CMP to lose its competitive position in the market, as competitors can get a strong consumer base by using specific methods like aggressive promo, quality products, etc.
• Entryway of new publishing firms in the market together with presence of high competition increases the risk of losing the consumer base.
Financial Analysis.
Due to lack of data, the financial ratios of CMP could not be calculated. It might be examined from the Appendix III that the annual total incomes of Drilling Safety At Bp The Deepwater Horizon Accident Case Study Analysis during the duration 2000-2012 are growing at a high development rate, revealing that the yearly demand of the products of CMP is growing and the company is rather efficient in attracting a big number of customers at a possible price.
Together with it, the second chart which shows the yearly development in the Drilling Safety At Bp The Deepwater Horizon Accident Case Study Analysis total assets, shows that the company is quite effective in including worth to its possessions through its earnings. The development in possessions shows that the overall worth of the firm is likewise increasing with increasing the overall profits. (Unknown, 2013).
Another monetary analysis of the business utilizing the offered information might be the analysis concerning the circulation of overall earnings of the company. Major part of the incomes of CMP originates from the sales of its released books i.e. 64% as displayed in the Case Appendix V. The business might move towards other company sections with a potential development to accomplish its future development objective.
PESTEL Analysis
PESTEL analysis might be conducted to find out the different external forces impacting the efficiency of the company and the current patterns in the external environment of the business. A short PESTEL analysis of the company is offered as follows; (Alanzi, 2018).
Political.
As the publishing sector could have a considerable influence on the state of mind of the people about the communist ideology of the federal government, therefore, the publishing sector is extremely supervised and assisted by the Publicity Department of the Communist Celebration of China. Therefore, it might be said that the total political forces affecting Drilling Safety At Bp The Deepwater Horizon Accident Case Study Help company are high. The federal government policies concerning the publishing sector are also increasing with the passage of time.
Affordable.
Financial forces impacting the publishing sector in general and the Drilling Safety At Bp The Deepwater Horizon Accident Case Study Solution in specific includesthe costs of paper, the earnings level of consumers, the inflation rate, and the overall GDP development of the nation. All these forces integrate effect the demand for the publishing market. Along with it, the financial policies related to the import of books affect the general business at CPM. Nevertheless, China's economic conditions are rather beneficial for CMP with high GDP development and consumer earnings level.
Social and Demographical.
The customer preferences are shifting towards digital publishing rather than the conventional was of publishing. In this regard, CMP ought to focus on digital publishing to fulfill the altering consumer preferences.
Technological.
Technological forces impacting the CMP include the technological improvement in the reading techniques etc. Improvement of science and innovation together with the increase of digital publishing might lower the need for the CMP products, if specific actions would not be taken quickly.
Environmental.
Ecological forces affecting Drilling Safety At Bp The Deepwater Horizon Accident Case Study Analysis consists of the issues of environmental neighborhoods over the use of paper in publishing books. The paper utilized in the books while publishing is required to be disposable and the ink utilized while publishing needs to not be hazardous for the environment.
Legal.
Legal guidelines for the publishing sector at whole are high. The legal policies regarding the publishing sector is controlled by the General Administration of Press and Publication. Publishing Regulation 1997 requires the publishers to be authorized first by the Government to be entered in the publishing market. The regulation prohibits direct involvement of foreign entities and people in the publishing sector.
Market Analysis (Porter's Five Forces Model).
Porter's Five Forces Design might be utilized to analyze the appearance of the publishing market China. A short analysis of the Porter's 5 Forces is provided as follows;.
Risk of New Entrants.
Risks of new entrants in the Chinese Publishing Industry is moderate. The possible growth in the market tends to attract brand-new entrants to the publishing industry. The existence of extreme competitors and the requirement of big capital tends to demotivate brand-new entrants to go into in the market.
Risk of Substitution.
Danger of Alternative is high for the Chinese Publishing Industry. The alternative products for the released documents is the documents provided in the virtual libraries on specific sites. The changing consumer choices towards digital knowing increase the danger of replacement for the market.
Competitive Rivalry.
Competitive rivalry in the publishing market is high. The existence of large number of consumers in the Chinese Publishing Industry like CIP, PTP etc. tends to produce high competitive rivalry for CMP. In addition to it, new entrants are also participating in the marketplace increasing the competitors for CMP.
Bargaining Power of Supplier.
The significant providers of the Drilling Safety At Bp The Deepwater Horizon Accident Case Study Analysis include the providers of the paper for releasing files. As CMP is the largest publisher in the Chinese Publishing Market, therefore the total bargaining power of supplier for CMP is low.
Bargaining Power of Purchaser.
Haggling power of buyer in the publishing market is high. Due to the presence of a a great deal of publishers in the Chinese market and the market saturation, the purchasers requires high quality documents at competitive prices.
Rivals Analysis.
CMP operates in an extremely competitive industry with the presence of large number of competitors. However, the business has a competitive position in the market with the highest market share in the Chinese publishing market. Significant competitors of Drilling Safety At Bp The Deepwater Horizon Accident Case Study Help consist of;.
• Chemical Market 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 could wean the market share of CMP quickly in the present market circumstance.
Posts and telecommunication Press (PTP).
It was also founded in the exact same duration as Drilling Safety At Bp The Deepwater Horizon Accident Case Study Help and CIP. It is also one of the prominent players in the publishing industry with a yearly overall profits of RMB 550 million in 2010.
Alternatives
Alternative-1: Broaden towards New Markets
Pros
• Lowering dependence over the Chinese markets.
• Increasing number of Customers
• Growth chances.
• Preventing the impact of market saturation in the Chinese publishing industry.
Cons
• Usage of prospective resources in growth.
• Risk of failure in new markets.
• Time consuming.
Alernative-2: Present Digital Publishing
Pros
• Sustaining consumer base.
• Approaching brand-new markets.
• Easy to introduce using existing capabilities.
• Low risk 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 company sectors to the brand-new one can lead the business to lose need of its items in the market.
Suggestions
With the deep analysis of the external and internal environment of the company along with the market analysis and the rival analysis, Alternative 2 is recommended to CMP to accomplish its future advancement. As the choices are shifting towards digital publishing and the business require an instant service to prevent the decreasing market development. Introduction of digital publishing might prove to be an immediate service with low amount of threat for the company. However, the company might likewise consider 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 gathers the data related to the customer need, the prospective markets, the federal government regulations and the information related to the competitors presented in the market. If the initial offering proves a success, the business should go for the other markets. In this way the company would be able to implement its digital publishing program.
Conclusion
The growth of the publishing industry is decreasing considering that 2008, showing a hazard to the company's long term presence, but the circumstance can be controlled by thinking about a development plan in the future. The company might consider presenting digital publishingin its existing market to execute its development program at instant basis and to avoid the danger of failure for entrance in the new markets.
