Health Data Management And Knowledge Discovery 2 Case Study Solution and Analysis
Health Data Management And Knowledge Discovery 2 Case Study Analysis is the largest publishing company with a greatest market share in the China's book retail market. CMP supplies a variety of services including; gathering details, processing details and communication services. Significant organisation segments of the company consist of; books, periodicals, consultancy and distribution. The business has a vast item portfolio and its major items consist of books, regulars, online media, exhibits, research study reports and so on. Health Data Management And Knowledge Discovery 2 Case Study Solution has become a specialized information company and a big detailed Science and Innovation publishing company through the combination of print media, audio-visual media and the network media.
Although, Health Data Management And Knowledge Discovery 2 Case Study Analysis has invested its 60 years journey efficiently, being a successful publishing house, nevertheless, the altering macro market trends and forces bring specific difficulties to the publishing market in general and CMP in particular. These aspects consist of;
• Entryway of the brand-new publishing firms in the industry.
• Decreasing development of the publishing market.
• Market saturation.
• Introduction of digital publishing techniques
• Enhancement of science and technology.
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 situation? Do the long valuable experience, technical resources and the capabilities of the company could be made use of to strive for the future advancement unceasingly? How could the company sustain its long term competitive position in future?
Health Data Management And Knowledge Discovery 2 Case Study Solution has specific strengths that can be utilized to lower the hazards, get rid of the weakness and obtain the opportunities. Strengths of CMP are given as follows;
• The long term experience of Health Data Management And Knowledge Discovery 2 Case Study Solution in the publishing market i.e. 60 years enables the company to offer high quality items at a lower expense using its previous experiences.
• The technical resources and capabilities created by its effective journey provide a competitive advantage to CMP.
• Vast product portfolioof CMP assists it to diversify its risk and provide high worth to its clients.
• Strong financial position enables the company to think about numerous advancement chances with no fear of raising fund externally.
Together with the strengths, the business has particular weak points which might increase constraints for the company in implementing its advancement program. The weaknesses of Health Data Management And Knowledge Discovery 2 Case Study Solution are offered as follows;
• Despite of being a science and technology publishing firm, the business still has conventional methods ofpublishing which are not suitable with the growing technological shift.
• CMP extremely relies over the Chinese markets for its development. It needs to propose certain expansion strategies to prevent its dependence over the Chinese markets to accomplish long term growth.
Although, the development of the publishing market is declining since 2008, impacting Health Data Management And Knowledge Discovery 2 Case Study Analysis too, however the development might be restored by availing specific chances presented in the market. The marketplace opportunities for CMP include;
• The business could also introduce Digital Publishing by utilizing its long term technical experience and a strong client recognition in the market.
• CMP might consider a development program through the growth towards foreign markets in order to reduce its reliance over Chinese markets by utilizing its huge financial resources.
The altering macro patterns in the market and increasing competitors in the publishing industry has postured specific hazards to Health Data Management And Knowledge Discovery 2 Case Study Solution consisting of;( Gurel, 2017).
• Intro of digital publishing i.e. digital libraries might result in declining market share of Health Data Management And Knowledge Discovery 2 Case Study Analysis due to the customer shift towards virtual libraries.
• The presence of a great deal of rivals 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 utilizing specific methods like aggressive promo, quality items, etc.
• Entryway of brand-new publishing companies in the industry in addition to presence of high competition increases the hazard of losing the customer base.
Due to lack of data, the monetary ratios of CMP could not be computed. It could be examined from the Appendix III that the yearly total earnings of Health Data Management And Knowledge Discovery 2 Case Study Solution throughout the period 2000-2012 are growing at a high growth rate, showing that the yearly demand of the items of CMP is growing and the business is rather effective in bring in a big number of customers at a potential price.
Along with it, the second graph which shows the annual development in the Health Data Management And Knowledge Discovery 2 Case Study Help overall assets, shows that the business is rather efficient in including worth to its properties through its profits. The growth in assets shows that the total worth of the company is likewise increasing with increasing the overall incomes. (Unknown, 2013).
Another financial analysis of the business utilizing the provided data could be the analysis concerning the circulation of overall earnings of the company. Huge part of the earnings of CMP originates from the sales of its published books i.e. 64% as displayed in the Case Appendix V. The company could move towards other business sectors with a potential development to accomplish its future development objective.
PESTEL analysis might be performed to discover the numerous external forces affecting the performance of the company and the current patterns in the external environment of the company. A quick PESTEL analysis of the business is provided as follows; (Alanzi, 2018).
As the publishing sector could have a substantial influence on the mindset of individuals about the communist ideology of the federal government, for that reason, the publishing sector is highly monitored and guided by the Publicity Department of the Communist Party of China. Therefore, it might be said that the total political forces affecting Health Data Management And Knowledge Discovery 2 Case Study Analysis service are high. The government policies regarding the publishing sector are likewise increasing with the passage of time.
Financial forces affecting the publishing sector in general and the Health Data Management And Knowledge Discovery 2 Case Study Analysis in specific includesthe rates of paper, the income level of consumers, the inflation rate, and the general GDP development of the country. All these forces combine impact the need for the publishing market. Together with it, the economic policies related to the import of books impact the overall business at CPM. China's financial conditions are rather favorable for CMP with high GDP development and customer income level.
Social and Demographical.
Social and demographical forces consist of the population growth, the consumer's preferences towards reading helpful materials etc. China has the highest population in the world with a high population growth, revealing the increasing variety of customers of the Health Data Management And Knowledge Discovery 2 Case Study Solution. However, the customer choices are shifting towards digital publishing rather than the traditional was of publishing. In this regard, CMP needs to focus on digital publishing to satisfy the changing consumer preferences.
Technological forces impacting the CMP consist of the technological advancement in the reading methods etc. Improvement of science and technology together with the rise of digital publishing might decrease the demand for the CMP items, if specific actions would not be taken soon.
Environmental forces impacting Health Data Management And Knowledge Discovery 2 Case Study Solution consists of the concerns of environmental neighborhoods over the usage of paper in publishing books. The paper utilized in the books while publishing is required to be disposable and the ink utilized while publishing needs to not be harmful for the environment.
Legal policies for the publishing sector at whole are high. The legal policies regarding the publishing sector is controlled by the General Administration of Press and Publication. Publishing Ordinance 1997 requires the publishers to be approved first by the Federal government to be gone into in the publishing market. The regulation prohibits direct involvement of foreign entities and individuals in the publishing sector.
Industry Analysis (Porter's Five Forces Model).
Porter's Five Forces Design could be utilized to evaluate the beauty of the publishing industry China. A quick analysis of the Porter's Five Forces is provided as follows;.
Risk of New Entrants.
Threats of brand-new entrants in the Chinese Publishing Industry is moderate. The prospective growth in the industry tends to draw in new entrants to the publishing industry. However, the presence of intense competitors and the requirement of big capital tends to demotivate new entrants to enter in the market.
Hazard of Replacement.
Threat of Substitution is high for the Chinese Publishing Industry. The replacement items for the released documents is the documents presented in the digital libraries on particular websites. The altering customer choices towards digital learning increase the hazard of substitution for the industry.
Competitive competition 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, brand-new entrants are also participating in the market increasing the competitors for CMP.
Bargaining Power of Supplier.
The significant providers of the Health Data Management And Knowledge Discovery 2 Case Study Analysis include the suppliers of the paper for publishing documents. As CMP is the biggest publisher in the Chinese Publishing Market, therefore the total bargaining power of supplier for CMP is low.
Bargaining Power of Buyer.
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 needs high quality documents at competitive costs.
CMP runs in an extremely competitive industry with the presence of large number of rivals. However, the company has a competitive position in the market with the greatest market share in the Chinese publishing market. Significant rivals of Health Data Management And Knowledge Discovery 2 Case Study Solution include;.
• Chemical Industry Press (CIP).
• Posts and telecommunication Press (PTP).
Chemical Market 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 might wean the market share of CMP easily in the existing market circumstance.
Posts and telecommunication Press (PTP).
It was also established in the very same period as Health Data Management And Knowledge Discovery 2 Case Study Analysis and CIP. It is also one of the popular players in the publishing market with an annual total incomes of RMB 550 million in 2010.
Alternative-1: Broaden towards New Markets
• Decreasing reliance over the Chinese markets.
• Increasing number of Clients
• Development chances.
• Avoiding the impact of market saturation in the Chinese publishing market.
• Use of potential resources in growth.
• Threat of failure in new markets.
• Time consuming.
Alernative-2: Present Digital Publishing
• Sustaining customer base.
• Approaching new markets.
• Easy to introduce using present abilities.
• Low threat of Failure.
• Low requirement for funds.
• Increased item portfolio supplies high worth to clients.
• Competitors in the market by CIP, who has prior concentrate on the digital publishing.
• Shift of focus from the core business sections to the brand-new one can lead the company to lose need of its products in the market.
With the deep analysis of the external and internal environment of the company along with the industry analysis and the competitor analysis, Alternative 2 is advised to CMP to achieve its future advancement. As the choices are moving towards digital publishing and the business require an immediate option to avoid the declining market growth. Intro of digital publishing could show to be an instant service with low amount of risk for the business. The company could likewise consider the expansion program after the success of its digital publishing program.
In order to present digital publishing in its item portfolio, the company needs to first collects the data related to the customer need, the potential markets, the government guidelines and the information connected to the competitors provided in the market. After that, the business should decide one potential section for its preliminary offering. It should gather research that how it might differentiate its digital publishing from the existing competitors' products. After all the actions above the business must choose the preliminary offering. If the preliminary offering proves a success, the company needs to opt for the other markets. In this method the company would be able to implement its digital publishing program.
Although, the development of the publishing industry is declining given that 2008, showing a risk to the business's long term presence, but the situation can be controlled by considering a development strategy in the future. The business could think about presenting digital publishingin its existing market to execute its development program at immediate basis and to prevent the danger of failure for entrance in the new markets.