Harris Seafoods Inc 2 Case Study Solution and Analysis
Harris Seafoods Inc 2 Case Study Help is the biggest publishing business with a greatest market share in the China's book retail market. CMP has ended up being a specialized information company and a large detailed Science and Innovation publishing company through the combination of print media, audio-visual media and the network media.
Although, Harris Seafoods Inc 2 Case Study Help has actually spent its 60 years journey smoothly, being an effective publishing house, however, the changing macro market trends and forces bring certain difficulties to the publishing market in general and CMP in specific. These factors consist of;
• Entrance of the brand-new publishing companies in the industry.
• Decreasing growth of the publishing market.
• Market saturation.
• Introduction of digital publishing methods
• Enhancement of science and innovation.
The transformation of the macro markets have raised a number of concerns 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 capabilities of the business could be utilized to pursue the future advancement unceasingly? How could the company sustain its long term competitive position in future?
Harris Seafoods Inc 2 Case Study Solution has particular strengths that can be utilized to decrease the risks, get rid of the weakness and avail the chances. Strengths of CMP are offered as follows;
• The long term experience of Harris Seafoods Inc 2 Case Study Solution in the publishing market i.e. 60 years allows the business to provide high quality items at a lower expense using its previous experiences.
• The technical resources and capabilities generated by its successful journey supply a competitive benefit to CMP.
• Large item portfolioof CMP assists it to diversify its threat and offer high worth to its clients.
• Strong financial position allows the business to think about several development chances without any fear of raising fund externally.
Along with the strengths, the business has specific weak points which might increase restrictions for the business in implementing its advancement program. The weak points of Harris Seafoods Inc 2 Case Study Solution are offered as follows;
• Despite of being a science and technology publishing company, the company still has traditional methods ofpublishing which are not compatible with the growing technological shift.
• CMP highly relies over the Chinese markets for its growth. It needs to propose certain growth plans to avoid its dependence over the Chinese markets to achieve long term growth.
Although, the growth of the publishing market is declining considering that 2008, affecting Harris Seafoods Inc 2 Case Study Help also, however the growth could be restored by availing specific chances provided in the market. The market chances for CMP consist of;
• The business might likewise introduce Digital Publishing by utilizing its long term technical experience and a strong client recognition in the market.
• CMP might consider an advancement program through the expansion towards foreign markets in order to lower its reliance over Chinese markets by using its large financial resources.
The changing macro trends in the market and increasing competition in the publishing market has positioned certain threats to Harris Seafoods Inc 2 Case Study Analysis consisting of;( Gurel, 2017).
• Introduction of digital publishing i.e. virtual libraries could result in declining market share of Harris Seafoods Inc 2 Case Study Analysis due to the customer shift towards virtual libraries.
• The existence of a great deal of rivals in the publishing market increase the risk for CMP to lose its competitive position in the market, as rivals can gain a strong customer base by utilizing specific methods like aggressive promotion, quality items, and so on
• Entryway of new publishing firms in the market in addition to presence of high competitors increases the danger of losing the client base.
The business has a quite competitive monetary efficiency. Due to lack of information, the monetary ratios of CMP could not be computed. The total financial efficiency of the business might be examined by utilizing the graphs provided in the case Appendices. It could be analyzed from the Appendix III that the annual total revenues of CMP during the duration 2000-2012 are growing at a high development rate, showing that the annual need of the items of Harris Seafoods Inc 2 Case Study Help is growing and the business is quite efficient in bring in a large number of clients at a prospective price.
In addition to it, the second chart which reveals the yearly growth in the Harris Seafoods Inc 2 Case Study Solution total properties, shows that the business is quite effective in including value to its possessions through its earnings. The development in properties shows that the overall worth of the company is likewise increasing with increasing the total revenues. (Unidentified, 2013).
Another financial analysis of the company using the offered information could be the analysis concerning the circulation of total revenues of the business. Huge part of the incomes of CMP comes from the sales of its published books i.e. 64% as displayed in the Case Appendix V. The company could move towards other company sectors with a possible development to attain its future advancement objective.
PESTEL analysis might be carried out to discover the various external forces impacting the performance of the company and the recent trends in the external environment of the company. A quick PESTEL analysis of the company is given as follows; (Alanzi, 2018).
As the publishing sector could have a considerable effect on the state of mind of the people about the communist ideology of the federal government, for that reason, the publishing sector is extremely monitored and directed by the Promotion Department of the Communist Celebration of China. For that reason, it could be stated that the overall political forces impacting Harris Seafoods Inc 2 Case Study Help business are high. The federal government policies regarding the publishing sector are also increasing with the passage of time.
Economic forces affecting the publishing sector in general and the CMP in specific includesthe costs of paper, the income level of consumers, the inflation rate, and the overall GDP development of the nation. All these forces combine 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 should focus on digital publishing to meet the changing consumer choices.
Technological forces affecting the CMP consist of the technological development in the reading techniques etc. Improvement of science and innovation together with the increase of digital publishing might lower the need for the CMP items, if specific actions would not be taken soon.
Environmental forces impacting Harris Seafoods Inc 2 Case Study Analysis includes the concerns of ecological communities over the usage of paper in publishing books. The paper utilized in the books while publishing is needed to be non reusable and the ink used while publishing ought to not be harmful for the environment.
Legal policies for the publishing sector at whole are high. Publishing Ordinance 1997 needs the publishers to be authorized first by the Government to be gone into in the publishing market.
Industry Analysis (Porter's Five Forces Design).
Porter's Five Forces Design could be utilized to analyze the appearance of the publishing market China. A quick analysis of the Porter's Five Forces is given as follows;.
Hazard of New Entrants.
Risks of brand-new entrants in the Chinese Publishing Market is moderate. The prospective development in the industry tends to attract new entrants to the publishing market. However, the existence of extreme competition and the requirement of big capital tends to demotivate new entrants to enter in the marketplace.
Threat of Replacement.
Danger of Substitution is high for the Chinese Publishing Market. The replacement products for the published files is the documents presented in the digital libraries on certain sites. The altering customer preferences towards digital knowing increase the hazard of replacement for the market.
Competitive competition in the publishing industry is high. The existence of large number of customers in the Chinese Publishing Industry like CIP, PTP and so on tends to produce high competitive rivalry for CMP. Along with it, new entrants are likewise entering into the marketplace increasing the competition for CMP.
Bargaining Power of Provider.
The significant providers of the Harris Seafoods Inc 2 Case Study Help include the suppliers of the paper for releasing documents. As CMP is the biggest publisher in the Chinese Publishing Market, for that reason the general bargaining power of provider for CMP is low.
Bargaining Power of Buyer.
Negotiating 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 marketplace saturation, the buyers needs high quality documents at competitive prices.
CMP operates in a highly competitive industry with the existence of a great deal of competitors. Nevertheless, the company has a competitive position in the market with the highest market share in the Chinese publishing market. Significant competitors of Harris Seafoods Inc 2 Case Study Analysis consist of;.
• Chemical Market Press (CIP).
• Posts and telecommunication Press (PTP).
Chemical Market 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 might wean the market share of CMP quickly in the existing market situation.
Posts and telecommunication Press (PTP).
Another close rival of CMP is PTP. It was likewise founded in the same period as CMP and CIP. It ranks sixth in the state-owned publishers in regards to service scale. It is likewise one of the prominent gamers in the publishing industry with a yearly overall earnings of RMB 550 million in 2010.
Alternative-1: Expand towards New Markets
• Lowering dependence over the Chinese markets.
• Increasing number of Consumers
• Development opportunities.
• Preventing the impact of market saturation in the Chinese publishing industry.
• Use of potential resources in growth.
• Threat of failure in brand-new markets.
• Time consuming.
Alernative-2: Introduce Digital Publishing
• Sustaining consumer base.
• Approaching brand-new markets.
• Easy to introduce using current abilities.
• Low threat of Failure.
• Low requirement for funds.
• Increased product portfolio supplies high value to customers.
• Competition in the market by CIP, who has prior focus on the digital publishing.
• Shift of focus from the core service segments to the brand-new one can lead the company to lose need of its items in the market.
As the preferences are shifting towards digital publishing and the business require an immediate option to prevent the declining market development. The company might also consider the growth program after the success of its digital publishing program.
In order to present digital publishing in its item portfolio, the company should first collects the data related to the consumer demand, the prospective markets, the government regulations and the data related to the competitors provided in the market. If the preliminary offering proves a success, the business should go for the other markets. In this method the business would be able to implement its digital publishing program.
The development of the publishing industry is declining because 2008, revealing a danger to the business's long term presence, but the circumstance can be controlled by considering a development strategy in the future. The business might consider presenting digital publishingin its existing market to execute its development program at instant basis and to avoid the risk of failure for entryway in the brand-new markets.