Electronic Medical Records System Implementation At Stanford Hospital And Clinics Case Study Solution and Analysis
Intro
Electronic Medical Records System Implementation At Stanford Hospital And Clinics Case Study Solution is the biggest publishing business with a highest market share in the China's book retail market. CMP has actually become a specialized information company and a large extensive Science and Innovation publishing business through the combination of print media, audio-visual media and the network media.
Critical Problems
Although, Electronic Medical Records System Implementation At Stanford Hospital And Clinics Case Study Help has actually spent its 60 years journey smoothly, being a successful publishing house, nevertheless, the altering macro market trends and forces bring specific obstacles to the publishing industry in general and CMP in particular. These aspects consist of;
• Entrance of the brand-new publishing firms in the market.
• Decreasing growth of the publishing market.
• Market saturation.
• Introduction of digital publishing strategies
• Improvement of science and innovation.
The improvement of the macro markets have raised several concerns 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 abilities of the company could be used to strive for the future advancement unceasingly? How could the company sustain its long term competitive position in future?
Situational Analysis
Internal Analysis
SWOT Analysis
Strengths
Electronic Medical Records System Implementation At Stanford Hospital And Clinics Case Study Analysis has particular strengths that can be used to minimize the hazards, conquer the weakness and avail the opportunities. Strengths of CMP are given as follows;
• The long term experience of Electronic Medical Records System Implementation At Stanford Hospital And Clinics Case Study Help in the publishing industry i.e. 60 years enables the business to offer high quality products at a lower cost using its previous experiences.
• The technical resources and abilities generated by its effective journey offer a competitive advantage to CMP.
• Vast item portfolioof CMP assists it to diversify its danger and offer high worth to its clients.
• Strong monetary position permits the business to consider a number of advancement chances without any worry of raising fund externally.
Weak points
Together with the strengths, the business has specific weaknesses which could increase constraints for the company in executing its advancement program. The weaknesses of Electronic Medical Records System Implementation At Stanford Hospital And Clinics Case Study Help are offered as follows;
• Despite of being a science and innovation publishing firm, the company still has standard ways ofpublishing which are not suitable with the growing technological shift.
• CMP extremely relies over the Chinese markets for its growth. It needs to propose particular expansion strategies to prevent its reliance over the Chinese markets to accomplish long term growth.
Opportunities
The growth of the publishing market is decreasing given that 2008, impacting Electronic Medical Records System Implementation At Stanford Hospital And Clinics Case Study Help as well, but the development could be revived by availing certain chances presented in the market. The marketplace opportunities for CMP include;
• The company might likewise present Digital Publishing by using its long term technical experience and a strong consumer recognition in the market.
• CMP could think about an advancement program through the expansion towards foreign markets in order to reduce its dependence over Chinese markets by using its vast funds.
Hazards
The changing macro trends in the market and increasing competitors in the publishing market has positioned certain hazards to Electronic Medical Records System Implementation At Stanford Hospital And Clinics Case Study Solution consisting of;( Gurel, 2017).
• Introduction of digital publishing i.e. digital libraries might cause decreasing market share of Electronic Medical Records System Implementation At Stanford Hospital And Clinics Case Study Analysis due to the customer shift towards digital libraries.
• The existence of large number of competitors in the publishing market increase the hazard for CMP to lose its competitive position in the market, as rivals can get a strong consumer base by utilizing certain strategies like aggressive promo, quality items, etc.
• Entrance of brand-new publishing firms in the industry together with presence of high competition increases the hazard of losing the client base.
Financial Analysis.
Due to lack of information, the monetary ratios of CMP could not be determined. It could be evaluated from the Appendix III that the yearly total revenues of Electronic Medical Records System Implementation At Stanford Hospital And Clinics Case Study Solution throughout the period 2000-2012 are growing at a high growth rate, revealing that the annual need of the items of CMP is growing and the business is quite efficient in bring in a large number of clients at a possible cost.
In addition to it, the 2nd chart which shows the yearly growth in the Electronic Medical Records System Implementation At Stanford Hospital And Clinics Case Study Solution overall possessions, reveals that the company is rather efficient in adding value to its properties through its profits. The growth in assets shows that the overall worth of the company is also increasing with increasing the overall incomes. (Unknown, 2013).
Another monetary analysis of the business using the given data could be the analysis regarding the distribution of overall incomes of the business. Major part of the incomes of CMP comes from the sales of its released books i.e. 64% as displayed in the Case Appendix V. The business could move towards other business sectors with a prospective development to achieve its future advancement objective.
PESTEL Analysis
PESTEL analysis could be performed to discover the numerous external forces impacting the efficiency of the company and the recent patterns in the external environment of the company. A short PESTEL analysis of the business is provided as follows; (Alanzi, 2018).
Political.
As the publishing sector could have a significant effect on the state of mind of the people about the communist ideology of the government, for that reason, the publishing sector is extremely monitored and directed by the Publicity Department of the Communist Party of China. It could be stated that the general political forces impacting CMP business are high. The federal government policies regarding the publishing sector are also increasing with the passage of time.
Economical.
Financial forces affecting the publishing sector in general and the Electronic Medical Records System Implementation At Stanford Hospital And Clinics Case Study Analysis in specific includesthe costs of paper, the income 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. Together with it, the financial policies associated with the import of books affect the general organisation at CPM. Nevertheless, China's financial conditions are rather favorable for CMP with high GDP growth and consumer income level.
Social and Demographical.
Social and demographical forces consist of the population development, the consumer's preferences towards checking out useful products etc. China has the highest population in the world with a high population development, revealing the increasing number of customers of the Electronic Medical Records System Implementation At Stanford Hospital And Clinics Case Study Solution. Nevertheless, the consumer preferences are shifting towards digital publishing rather than the standard was of publishing. In this regard, CMP should focus on digital publishing to meet the changing customer choices.
Technological.
Technological forces impacting the CMP include the technological advancement in the reading methods etc. Enhancement of science and innovation together with the rise of digital publishing might lower the demand for the CMP items, if certain actions would not be taken quickly.
Environmental.
Environmental forces impacting Electronic Medical Records System Implementation At Stanford Hospital And Clinics Case Study Solution includes the issues of environmental 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 ought to not be hazardous for the environment.
Legal.
Legal guidelines for the publishing sector at whole are high. Publishing Ordinance 1997 needs the publishers to be approved initially by the Government to be gone into in the publishing market.
Market Analysis (Porter's Five Forces Model).
Porter's 5 Forces Model might be utilized to evaluate the beauty of the publishing market China. A quick analysis of the Porter's 5 Forces is offered as follows;.
Hazard of New Entrants.
Dangers of new entrants in the Chinese Publishing Market is moderate. The prospective growth in the industry tends to attract brand-new entrants to the publishing industry. The existence of extreme competitors and the requirement of huge capital tends to demotivate brand-new entrants to go into in the market.
Hazard of Substitution.
Hazard of Substitution is high for the Chinese Publishing Industry. The substitute items for the released documents is the files presented in the virtual libraries on certain websites. The altering customer choices towards digital knowing increase the threat of replacement for the industry.
Competitive Competition.
Competitive rivalry in the publishing industry is high. The presence of large number of consumers in the Chinese Publishing Market like CIP, PTP etc. tends to produce high competitive competition for CMP. Along with it, new entrants are likewise participating in the market increasing the competitors for CMP.
Bargaining Power of Supplier.
The significant providers of the Electronic Medical Records System Implementation At Stanford Hospital And Clinics Case Study Solution consist of the providers of the paper for publishing documents. As CMP is the biggest publisher in the Chinese Publishing Market, for that reason the total bargaining power of supplier for CMP is low.
Bargaining Power of Buyer.
Negotiating power of purchaser in the publishing industry is high. Due to the existence of a a great deal of publishers in the Chinese market and the marketplace saturation, the purchasers needs high quality files at competitive rates.
Competitors Analysis.
CMP runs in a highly competitive industry with the presence of a great deal of rivals. However, the company has a competitive position in the market with the highest market share in the Chinese publishing market. Significant competitors of Electronic Medical Records System Implementation At Stanford Hospital And Clinics Case Study Help 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 could wean the market share of CMP easily in the present market circumstance.
Posts and telecommunication Press (PTP).
Another close competitor of CMP is PTP. It was also founded in the very same duration as CMP and CIP. It ranks 6th in the state-owned publishers in regards to business scale. It is likewise among the popular players in the publishing industry with an annual total incomes of RMB 550 million in 2010.
Alternatives
Alternative-1: Expand towards New Markets
Pros
• Lowering reliance over the Chinese markets.
• Increasing number of Customers
• Growth opportunities.
• Preventing the effect of market saturation in the Chinese publishing industry.
Cons
• Use of prospective resources in expansion.
• Risk of failure in brand-new markets.
• Time consuming.
Alernative-2: Introduce Digital Publishing
Pros
• Sustaining consumer base.
• Approaching new markets.
• Easy to introduce using present capabilities.
• Low danger of Failure.
• Low requirement for funds.
• Increased product portfolio offers high value to customers.
Cons
• Competitors in the market by CIP, who has prior concentrate on the digital publishing.
• Shift of focus from the core service segments 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 business along with the market analysis and the rival analysis, Alternative 2 is advised to CMP to attain its future advancement. As the choices are moving towards digital publishing and the company require an immediate option to prevent the decreasing market development. Introduction of digital publishing could show to be an immediate service with low amount of danger for the company. Nevertheless, the business might likewise consider the growth program after the success of its digital publishing program.
Implementation
In order to present digital publishing in its item portfolio, the business must initially collects the data related to the customer demand, the possible markets, the federal government regulations and the information related to the competitors presented in the market. If the initial offering proves a success, the company ought to go for the other markets. In this way the business would be able to implement its digital publishing program.
Conclusion
Although, the growth of the publishing industry is decreasing because 2008, revealing a danger to the business's long term existence, however the circumstance can be managed by considering a development plan in the future. The business could think about introducing digital publishingin its existing market to implement its advancement program at instant basis and to avoid the danger of failure for entrance in the brand-new markets.
