Health Assessment 3 Case Study Solution and Analysis
Health Assessment 3 Case Study Solution is the largest publishing company with a highest market share in the China's book retail market. CMP has become a specialized details supplier and a large comprehensive Science and Technology publishing company through the integration of print media, audio-visual media and the network media.
CMP has invested its 60 years journey efficiently, being an effective publishing home, however, the altering macro market patterns and forces bring certain obstacles to the publishing market in general and Health Assessment 3 Case Study Analysis in particular. These factors consist of;
• Entryway of the new publishing firms in the market.
• Declining development of the publishing market.
• Market saturation.
• Intro of digital publishing techniques
• Improvement of science and innovation.
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 business could be made use of to strive for the future development unceasingly? How could the company sustain its long term competitive position in future?
Health Assessment 3 Case Study Help has particular strengths that can be used to decrease the hazards, get rid of the weak point and avail the opportunities. Strengths of CMP are offered as follows;
• The long term experience of Health Assessment 3 Case Study Solution in the publishing industry i.e. 60 years allows the business to provide high quality items at a lower expense using its previous experiences.
• The technical resources and abilities created by its successful journey supply a competitive benefit to CMP.
• Huge item portfolioof CMP assists it to diversify its risk and offer high worth to its customers.
• Strong financial position allows the company to consider several development opportunities with no worry of raising fund externally.
Together with the strengths, the business has specific weaknesses which might increase restraints for the business in implementing its development program. The weak points of Health Assessment 3 Case Study Analysis are offered as follows;
• Despite of being a science and innovation publishing firm, 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 should propose specific growth strategies to prevent its dependence over the Chinese markets to attain long term development.
Although, the growth of the publishing industry is declining given that 2008, affecting Health Assessment 3 Case Study Solution as well, but the development could be restored by availing particular opportunities presented in the market. The market chances for CMP consist of;
• The company might also present Digital Publishing by utilizing its long term technical experience and a strong customer recognition in the market.
• CMP might think about a development program through the expansion towards foreign markets in order to minimize its reliance over Chinese markets by using its huge funds.
The altering macro trends in the market and increasing competitors in the publishing industry has positioned particular dangers to Health Assessment 3 Case Study Analysis including;( Gurel, 2017).
• Intro of digital publishing i.e. digital libraries might result in decreasing market share of Health Assessment 3 Case Study Analysis due to the customer shift towards digital libraries.
• The presence of a great deal of competitors in the publishing market increase the threat for CMP to lose its competitive position in the market, as rivals can gain a strong consumer base by using certain strategies like aggressive promotion, quality items, and so on
• Entrance of brand-new publishing firms in the industry in addition to presence of high competition increases the danger of losing the client base.
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 incomes of Health Assessment 3 Case Study Help throughout the duration 2000-2012 are growing at a high growth rate, showing that the annual demand of the products of CMP is growing and the company is rather efficient in bring in a big number of consumers at a potential price.
In addition to it, the second chart which shows the annual growth in the Health Assessment 3 Case Study Help overall properties, reveals that the company is quite effective in adding value to its possessions through its profits. The growth in assets shows that the total worth of the company is also increasing with increasing the total revenues. (Unknown, 2013).
Another financial analysis of the business utilizing the given information could be the analysis relating to the circulation of overall revenues of the business. Huge part of the profits of CMP originates 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 performed to learn the numerous external forces impacting the efficiency of the business and the recent trends in the external environment of the business. A short PESTEL analysis of the company is given as follows; (Alanzi, 2018).
As the publishing sector might have a considerable impact on the frame of mind of individuals about the communist ideology of the government, therefore, the publishing sector is extremely supervised and assisted by the Publicity Department of the Communist Party of China. Therefore, it could be stated that the total political forces impacting Health Assessment 3 Case Study Help service are high. The government policies regarding the publishing sector are likewise increasing with the passage of time.
Financial forces impacting the publishing sector in general and the Health Assessment 3 Case Study Solution in particular includesthe costs of paper, the earnings level of customers, the inflation rate, and the overall GDP development of the nation. All these forces integrate impact the demand for the publishing market. Together with it, the financial policies associated with the import of books affect the general company at CPM. China's economic conditions are rather favorable for CMP with high GDP growth and customer income level.
Social and Demographical.
The customer 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 consumer preferences.
Technological forces impacting the CMP include the technological advancement in the reading methods etc. Enhancement of science and technology in addition to the rise of digital publishing might lower the demand for the CMP products, if certain actions would not be taken quickly.
Ecological forces impacting Health Assessment 3 Case Study Solution includes the concerns of ecological communities 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 should not be hazardous for the environment.
Legal policies for the publishing sector at whole are high. Publishing Regulation 1997 needs the publishers to be approved initially by the Federal government to be entered in the publishing market.
Market Analysis (Porter's Five Forces Model).
Porter's 5 Forces Design could be utilized to examine the beauty of the publishing market China. A short analysis of the Porter's Five Forces is given as follows;.
Danger of New Entrants.
Risks of new entrants in the Chinese Publishing Industry is moderate. The possible development in the industry tends to attract new entrants to the publishing industry. The existence of intense competitors and the requirement of huge capital tends to demotivate brand-new entrants to enter in the market.
Danger of Alternative.
Hazard of Replacement is high for the Chinese Publishing Industry. The replacement items for the released documents is the documents presented in the virtual libraries on specific websites. The changing customer preferences towards digital learning increase the hazard of alternative for the industry.
Competitive competition in the publishing market is high. The presence of a great deal of customers in the Chinese Publishing Market like CIP, PTP and so on tends to produce high competitive competition for CMP. Along with it, new entrants are also entering into the market increasing the competitors for CMP.
Bargaining Power of Provider.
The significant providers of the Health Assessment 3 Case Study Analysis consist of the suppliers of the paper for releasing documents. 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 large number of publishers in the Chinese market and the marketplace saturation, the purchasers requires high quality files at competitive costs.
CMP operates in an extremely competitive industry with the presence of a great deal of competitors. However, the business has a competitive position in the market with the greatest market share in the Chinese publishing market. Significant rivals of Health Assessment 3 Case Study Help consist of;.
• Chemical Market Press (CIP).
• Posts and telecommunication Press (PTP).
Chemical Industry Press (CIP).
CIP acts as a threat 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 situation.
Posts and telecommunication Press (PTP).
It was also founded in the same duration as Health Assessment 3 Case Study Help and CIP. It is also one of the popular gamers in the publishing industry with a yearly total earnings of RMB 550 million in 2010.
Alternative-1: Broaden towards New Markets
• Minimizing reliance over the Chinese markets.
• Increasing number of Customers
• Development opportunities.
• Preventing the effect of market saturation in the Chinese publishing market.
• Use of prospective resources in growth.
• Threat of failure in brand-new markets.
• Time consuming.
Alernative-2: Present Digital Publishing
• Sustaining customer base.
• Approaching new markets.
• Easy to introduce using present capabilities.
• Low danger of Failure.
• Low requirement for funds.
• Increased item portfolio offers high value to clients.
• Competitors in the market by CIP, who has prior focus on the digital publishing.
• Shift of focus from the core business sections to the brand-new one can lead the company to lose demand of its products in the market.
With the deep analysis of the internal and external environment of the business along with the market analysis and the competitor analysis, Alternative 2 is advised to CMP to attain its future development. As the choices are moving towards digital publishing and the business need an immediate solution to prevent the declining market growth. Introduction of digital publishing might prove to be an immediate service with low amount of danger for the company. Nevertheless, the business might likewise consider the expansion program after the success of its digital publishing program.
In order to present digital publishing in its product portfolio, the company must initially collects the information associated with the consumer demand, the possible markets, the government policies and the information related to the rivals presented in the market. After that, the company needs to decide one potential section for its initial offering. It should gather research study that how it could differentiate its digital publishing from the existing rivals' products. The actions above the company should go for the initial offering. The business must go for the other markets if the preliminary offering shows a success. In this way the business would have the ability to execute its digital publishing program.
Although, the growth of the publishing industry is decreasing considering that 2008, revealing a danger to the company's long term presence, however the situation can be controlled by considering a development strategy in the future. The company could think about presenting digital publishingin its existing market to execute its development program at instant basis and to prevent the danger of failure for entryway in the brand-new markets.