Drilling Safety At Bp The Deepwater Horizon Accident Case Study Solution and Analysis
Drilling Safety At Bp The Deepwater Horizon Accident Case Study Analysis is the biggest publishing business with a highest market share in the China's book retail market. CMP has actually ended up being a specialized info company and a large thorough Science and Innovation publishing business through the combination of print media, audio-visual media and the network media.
CMP has invested its 60 years journey efficiently, being a successful publishing house, however, the changing macro market patterns and forces bring certain difficulties to the publishing industry in general and Drilling Safety At Bp The Deepwater Horizon Accident Case Study Help in specific. These aspects consist of;
• Entrance of the new publishing companies in the market.
• Declining growth of the publishing market.
• Market saturation.
• Introduction of digital publishing methods
• Improvement of science and innovation.
The improvement of the macro markets have raised several questions to the management at CPM that what could be the future of CMP in this circumstance? Do the long important experience, technical resources and the abilities of the company could be made use of to pursue the future advancement unceasingly? How could the company sustain its long term competitive position in future?
Drilling Safety At Bp The Deepwater Horizon Accident Case Study Analysis has certain strengths that can be utilized to lower the threats, get rid of 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 Solution in the publishing industry i.e. 60 years allows the company to offer high quality products at a lower cost utilizing its previous experiences.
• The technical resources and abilities generated by its effective journey offer a competitive advantage to CMP.
• Large item portfolioof CMP assists it to diversify its danger and offer high value to its clients.
• Strong monetary position enables the company to consider numerous development chances without any fear of raising fund externally.
Together with the strengths, the business has particular weak points which might increase restraints for the company in implementing its advancement program. The weaknesses of Drilling Safety At Bp The Deepwater Horizon Accident Case Study Solution are offered as follows;
• Despite of being a science and technology publishing firm, the business still has standard ways ofpublishing which are not suitable with the growing technological shift.
• CMP highly relies over the Chinese markets for its development. It must propose specific growth strategies to avoid its reliance over the Chinese markets to achieve long term growth.
Although, the development of the publishing market is decreasing because 2008, affecting Drilling Safety At Bp The Deepwater Horizon Accident Case Study Analysis as well, but the growth could be revived by availing particular opportunities presented in the market. The market opportunities for CMP include;
• The business could also introduce Digital Publishing by using its long term technical experience and a strong customer acknowledgment in the market.
• CMP could consider an advancement program through the expansion towards foreign markets in order to minimize its dependence over Chinese markets by utilizing its huge financial resources.
The altering macro trends in the market and increasing competitors in the publishing industry has actually positioned specific threats to Drilling Safety At Bp The Deepwater Horizon Accident Case Study Help including;( Gurel, 2017).
• Introduction of digital publishing i.e. virtual libraries might result in decreasing market share of Drilling Safety At Bp The Deepwater Horizon Accident Case Study Solution due to the consumer shift towards virtual libraries.
• The existence of large number of competitors in the publishing industry increase the danger for CMP to lose its competitive position in the market, as rivals can acquire a strong customer base by using particular techniques like aggressive promotion, quality items, etc.
• Entrance of new publishing firms in the market in addition to existence of high competitors increases the threat of losing the client base.
The company has a quite competitive monetary efficiency. Due to lack of information, the monetary ratios of CMP might not be calculated. However, the overall monetary performance of the business might be evaluated by utilizing the charts given up the case Appendices. It could be examined from the Appendix III that the yearly total incomes of CMP during the duration 2000-2012 are growing at a high development rate, showing that the yearly need of the items of Drilling Safety At Bp The Deepwater Horizon Accident Case Study Solution is growing and the company is rather effective in drawing in a large number of clients at a prospective rate.
Along with it, the second chart which reveals the yearly development in the Drilling Safety At Bp The Deepwater Horizon Accident Case Study Solution overall properties, shows that the business is rather efficient in including value to its possessions through its incomes. The growth in assets shows that the total worth of the company is likewise increasing with increasing the total incomes. (Unknown, 2013).
Another monetary analysis of the company using the given information might be the analysis regarding the circulation of total revenues of the company. Huge part of the profits of CMP originates from the sales of its published books i.e. 64% as displayed in the Case Appendix V. The business might move towards other service sectors with a possible growth to accomplish its future advancement goal.
PESTEL analysis might be performed to find out the various external forces impacting the performance of the business and the current trends in the external environment of the business. A short PESTEL analysis of the company is offered as follows; (Alanzi, 2018).
As the publishing sector could have a substantial influence on the mindset of individuals about the communist ideology of the government, for that reason, the publishing sector is extremely supervised and directed by the Publicity Department of the Communist Party of China. It might be stated that the total political forces affecting CMP organisation are high. The government policies relating to the publishing sector are likewise increasing with the passage of time.
Financial forces impacting the publishing sector in basic and the CMP in specific includesthe costs of paper, the income level of customers, 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.
Social and demographical forces consist of the population growth, the customer's choices towards reading helpful materials and so on. China has the greatest population in the world with a high population growth, revealing the increasing variety of consumers of the Drilling Safety At Bp The Deepwater Horizon Accident Case Study Analysis. However, the consumer choices are moving towards digital publishing rather than the traditional was of publishing. In this regard, CMP must focus on digital publishing to fulfill the altering customer preferences.
Technological forces impacting the CMP include the technological advancement in the reading methods and so on. Improvement of science and innovation in addition to the rise of digital publishing might minimize the demand for the CMP items, if specific actions would not be taken soon.
Environmental forces affecting Drilling Safety At Bp The Deepwater Horizon Accident Case Study Solution consists of the concerns of ecological communities over the usage of paper in publishing books. The paper used in the books while publishing is required to be non reusable and the ink used while publishing must not be damaging for the environment.
Legal regulations for the publishing sector at whole are high. The legal regulations regarding the publishing sector is managed by the General Administration of Press and Publication. Publishing Regulation 1997 requires the publishers to be approved initially by the Government to be gone into in the publishing market. The regulation prohibits direct involvement of foreign entities and people in the publishing sector.
Market Analysis (Porter's 5 Forces Design).
Porter's 5 Forces Design might be used to evaluate the beauty of the publishing market China. A quick analysis of the Porter's Five Forces is provided as follows;.
Risk of New Entrants.
Dangers of new entrants in the Chinese Publishing Market is moderate. The possible growth in the market tends to attract new entrants to the publishing market. Nevertheless, the presence of extreme competitors and the requirement of huge capital tends to demotivate new entrants to enter in the market.
Risk of Alternative.
Hazard of Substitution is high for the Chinese Publishing Industry. The substitute items for the published files is the files presented in the virtual libraries on specific websites. The altering consumer preferences towards digital learning increase the hazard of substitution for the industry.
Competitive competition in the publishing industry is high. The existence of large number of consumers in the Chinese Publishing Market like CIP, PTP and so on tends to produce high competitive rivalry for CMP. Along with it, brand-new entrants are likewise entering into the market increasing the competition for CMP.
Bargaining Power of Supplier.
The major suppliers of the Drilling Safety At Bp The Deepwater Horizon Accident Case Study Analysis consist of the suppliers of the paper for releasing files. As CMP is the largest publisher in the Chinese Publishing Market, therefore the overall bargaining power of provider for CMP is low.
Bargaining Power of Purchaser.
Haggling power of buyer in the publishing industry is high. Due to the existence of a a great deal of publishers in the Chinese market and the market saturation, the purchasers needs high quality files at competitive costs.
CMP runs in a highly competitive market with the presence of large number of competitors. However, the business has a competitive position in the market with the greatest market share in the Chinese publishing market. Major rivals of Drilling Safety At Bp The Deepwater Horizon Accident Case Study Solution consist of;.
• Chemical Industry Press (CIP).
• Posts and telecommunication Press (PTP).
Chemical Industry Press (CIP).
CIP acts as a threat for CMP as it could 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).
Another close competitor of CMP is PTP. It was also established in the exact same duration as CMP and CIP. It ranks 6th in the state-owned publishers in regards to business scale. It is likewise one of the popular gamers in the publishing industry with a yearly total profits of RMB 550 million in 2010.
Alternative-1: Broaden towards New Markets
• Lowering dependence over the Chinese markets.
• Increasing variety of Consumers
• Development chances.
• Avoiding the effect of market saturation in the Chinese publishing market.
• Usage of possible resources in growth.
• Risk of failure in brand-new markets.
• Time consuming.
Alernative-2: Present Digital Publishing
• Sustaining consumer base.
• Approaching brand-new markets.
• Easy to introduce using existing capabilities.
• Low risk of Failure.
• Low requirement for funds.
• Increased item portfolio offers high value to clients.
• Competition in the market by CIP, who has prior focus on the digital publishing.
• Shift of focus from the core company sectors to the new one can lead the business to lose demand of its products in the market.
With the deep analysis of the internal and external environment of the business in addition to the market analysis and the rival analysis, Alternative 2 is suggested to CMP to accomplish its future advancement. As the preferences are shifting towards digital publishing and the business require an immediate solution to prevent the declining industry growth. Therefore, intro of digital publishing could prove to be an immediate service with low quantity of danger for the company. However, the business could also consider the expansion program after the success of its digital publishing program.
In order to introduce digital publishing in its item portfolio, the business should initially collects the information related to the customer demand, the prospective markets, the government regulations and the information connected to the competitors provided in the market. After that, the company needs to choose one prospective segment for its initial offering. It ought to collect research that how it might separate its digital publishing from the existing competitors' products. After all the actions above the company must opt for the preliminary offering. If the initial offering proves a success, the company ought to choose the other markets. In this method the company would have the ability to execute its digital publishing program.
Although, the development of the publishing industry is decreasing because 2008, revealing a risk to the company's long term existence, but the circumstance can be controlled by thinking about a development strategy in the future. The business could think about presenting digital publishingin its existing market to execute its advancement program at immediate basis and to prevent the threat of failure for entrance in the brand-new markets.