Electronic Medical Records System Implementation At Stanford Hospital And Clinics Case Study Solution and Analysis
Electronic Medical Records System Implementation At Stanford Hospital And Clinics Case Study Help is the largest publishing business with a greatest market share in the China's book retail market. CMP provides a number of services including; gathering info, processing details and communication services. Significant company sectors of the business include; books, periodicals, consultancy and circulation. The company has a large product portfolio and its significant items consist of books, regulars, online media, exhibitions, research study reports etc. Electronic Medical Records System Implementation At Stanford Hospital And Clinics Case Study Help has actually ended up being a specialized info company and a large comprehensive Science and Innovation publishing company through the integration of print media, audio-visual media and the network media.
CMP has invested its 60 years journey efficiently, being a successful publishing house, nevertheless, the altering macro market trends and forces bring specific obstacles to the publishing industry in basic and Electronic Medical Records System Implementation At Stanford Hospital And Clinics Case Study Help in particular. These elements include;
• Entryway of the brand-new publishing companies in the market.
• Declining growth of the publishing market.
• Market saturation.
• Introduction of digital publishing strategies
• Improvement of science and innovation.
The transformation 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 business could be made use of to pursue the future advancement unceasingly? How could the company sustain its long term competitive position in future?
Electronic Medical Records System Implementation At Stanford Hospital And Clinics Case Study Help has particular strengths that can be made use of to minimize the dangers, overcome the weakness and obtain the opportunities. Strengths of CMP are provided as follows;
• The long term experience of Electronic Medical Records System Implementation At Stanford Hospital And Clinics Case Study Help in the publishing market i.e. 60 years allows the company to provide high quality products at a lower cost utilizing its prior experiences.
• The technical resources and capabilities created by its successful journey offer a competitive advantage to CMP.
• Vast item portfolioof CMP assists it to diversify its danger and supply high worth to its customers.
• Strong monetary position enables the company to consider a number of development opportunities without any fear of raising fund externally.
Along with the strengths, the company has specific weak points which might increase restraints for the business in executing its development program. The weaknesses of Electronic Medical Records System Implementation At Stanford Hospital And Clinics Case Study Solution are offered as follows;
• Despite of being a science and innovation publishing company, the company still has conventional ways ofpublishing which are not suitable with the growing technological shift.
• CMP extremely relies over the Chinese markets for its development. It must propose certain expansion plans to avoid its reliance over the Chinese markets to attain long term development.
The development of the publishing industry is declining given that 2008, impacting Electronic Medical Records System Implementation At Stanford Hospital And Clinics Case Study Help as well, but the development could be restored by availing specific chances presented in the market. The marketplace opportunities for CMP consist of;
• The company could likewise introduce Digital Publishing by using its long term technical experience and a strong consumer acknowledgment in the market.
• CMP might consider an advancement program through the expansion towards foreign markets in order to reduce its reliance over Chinese markets by utilizing its vast funds.
The changing macro patterns in the market and increasing competitors in the publishing market has presented certain threats to Electronic Medical Records System Implementation At Stanford Hospital And Clinics Case Study Help 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 Solution due to the consumer shift towards digital libraries.
• The existence of a great deal of competitors in the publishing industry increase the risk for CMP to lose its competitive position in the market, as competitors can acquire a strong customer base by utilizing specific strategies like aggressive promo, quality products, etc.
• Entrance of new publishing companies in the market in addition to presence of high competitors increases the danger of losing the customer base.
The business has a quite competitive financial performance. Due to absence of information, the monetary ratios of CMP might not be computed. However, the overall financial efficiency of the business could be analyzed by using the charts given up the case Appendices. It might be examined from the Appendix III that the annual overall profits of CMP throughout the period 2000-2012 are growing at a high development rate, showing that the annual demand of the items of Electronic Medical Records System Implementation At Stanford Hospital And Clinics Case Study Solution is growing and the business is quite efficient in bring in a a great deal of clients at a possible price.
Together with it, the 2nd chart which shows the yearly growth in the Electronic Medical Records System Implementation At Stanford Hospital And Clinics Case Study Solution total assets, shows that the business is rather efficient in adding value to its assets through its incomes. The growth in properties reveals that the overall worth of the company is likewise increasing with increasing the total incomes. (Unknown, 2013).
Another financial analysis of the company utilizing the offered data could be the analysis concerning the distribution of overall profits of the company. Major part of the incomes of CMP comes from the sales of its published books i.e. 64% as shown in the Case Appendix V. The company could move towards other company sections with a potential growth to attain its future advancement goal.
PESTEL analysis might be conducted to discover the various external forces affecting the efficiency of the company and the current trends in the external environment of the company. A short PESTEL analysis of the company is offered as follows; (Alanzi, 2018).
As the publishing sector could have a substantial effect on the mindset of the people about the communist ideology of the government, therefore, the publishing sector is extremely supervised and guided by the Promotion Department of the Communist Party of China. It might be stated that the general political forces impacting CMP organisation are high. The federal government policies relating to the publishing sector are likewise increasing with the passage of time.
Economic forces impacting the publishing sector in basic and the CMP in specific includesthe prices of paper, the income level of consumers, the inflation rate, and the overall GDP growth of the country. All these forces integrate impact the demand for the publishing market.
Social and Demographical.
The consumer choices are moving 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 choices.
Technological forces affecting the CMP include the technological advancement in the reading strategies etc. Improvement of science and technology together with the rise of digital publishing might reduce the need for the CMP items, if certain actions would not be taken soon.
Environmental forces affecting Electronic Medical Records System Implementation At Stanford Hospital And Clinics Case Study Help consists of the concerns of environmental neighborhoods over the usage of paper in publishing books. The paper used in the books while publishing is needed to be non reusable and the ink used while publishing needs to not be harmful for the environment.
Legal guidelines for the publishing sector at whole are high. Publishing Ordinance 1997 needs the publishers to be authorized first by the Federal government to be gone into in the publishing market.
Industry Analysis (Porter's Five Forces Model).
Porter's 5 Forces Model might be used to evaluate the appearance of the publishing industry China. A brief analysis of the Porter's 5 Forces is offered as follows;.
Hazard of New Entrants.
Risks of brand-new entrants in the Chinese Publishing Market is moderate. The possible development in the market tends to draw in new entrants to the publishing market. The existence of extreme competitors and the requirement of big capital tends to demotivate new entrants to go into in the market.
Hazard of Alternative.
Hazard of Substitution is high for the Chinese Publishing Industry. The substitute products for the released files is the documents provided in the digital libraries on certain sites. The changing customer choices towards digital knowing increase the danger of alternative for the industry.
Competitive competition in the publishing industry is high. The existence of large number of consumers in the Chinese Publishing Industry like CIP, PTP and so on tends to produce high competitive rivalry for CMP. In addition to it, new entrants are likewise entering into the market increasing the competitors for CMP.
Bargaining Power of Supplier.
The major suppliers of the Electronic Medical Records System Implementation At Stanford Hospital And Clinics Case Study Solution include the providers of the paper for releasing files. As CMP is the biggest publisher in the Chinese Publishing Market, therefore the total bargaining power of provider for CMP is low.
Bargaining Power of Purchaser.
Negotiating power of buyer in the publishing industry is high. Due to the existence of a large number of publishers in the Chinese market and the market saturation, the purchasers requires high quality files at competitive costs.
CMP operates in an extremely competitive market with the existence of a great deal of rivals. Nevertheless, the company has a competitive position in the market with the highest market share in the Chinese publishing market. Major competitors of Electronic Medical Records System Implementation At Stanford Hospital And Clinics Case Study Solution include;.
• Chemical Industry Press (CIP).
• Posts and telecommunication Press (PTP).
Chemical Industry Press (CIP).
CIPis among the close rivals of CMP. Established in the exact same period, CIP publishes similar kind of books. For a big period, CIP held the biggest market share, and still ranks third and 2nd in different market sections, with a major focus on instructional publications. CIP functions as a threat for CMP as it might wean its market share due to its long term competitive background. CIP is concentrated on digital publishing and could wean the market share of Electronic Medical Records System Implementation At Stanford Hospital And Clinics Case Study Help easily in the current market circumstance.
Posts and telecommunication Press (PTP).
Another close competitor 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 company scale. It is also among the popular gamers in the publishing industry with an annual total profits of RMB 550 million in 2010.
Alternative-1: Expand towards New Markets
• Minimizing dependence over the Chinese markets.
• Increasing number of Consumers
• Growth chances.
• Avoiding the effect of market saturation in the Chinese publishing industry.
• Use of prospective resources in expansion.
• Risk of failure in brand-new markets.
• Time consuming.
Alernative-2: Present Digital Publishing
• Sustaining consumer base.
• Approaching new markets.
• Easy to introduce utilizing current abilities.
• Low danger of Failure.
• Low requirement for funds.
• Increased product portfolio provides high worth to customers.
• Competition in the market by CIP, who has prior focus on the digital publishing.
• Shift of focus from the core business segments to the brand-new one can lead the business to lose demand of its products in the market.
With the deep analysis of the external and internal environment of the company in addition to the industry analysis and the rival analysis, Alternative 2 is advised to CMP to accomplish its future advancement. As the preferences are shifting towards digital publishing and the business need an instant service to prevent the declining industry development. For that reason, intro of digital publishing could show to be an immediate service with low amount of danger for the business. The company might likewise think about the growth program after the success of its digital publishing program.
In order to introduce digital publishing in its item portfolio, the company must first gathers the data related to the consumer demand, the prospective markets, the federal government policies and the data related to the competitors presented in the market. If the initial offering proves a success, the business needs to go for the other markets. In this method the company would be able to implement its digital publishing program.
The growth of the publishing market is declining considering that 2008, showing a risk to the business's long term presence, but the scenario can be managed by considering an advancement plan in the future. The company could consider introducing digital publishingin its existing market to execute its advancement program at immediate basis and to avoid the threat of failure for entryway in the brand-new markets.