Health Data Management And Knowledge Discovery Case Study Solution and Analysis
Health Data Management And Knowledge Discovery Case Study Analysis is the largest publishing business with a highest market share in the China's book retail market. CMP provides a number of services consisting of; collecting info, processing information and communication services. Significant service sectors of the business consist of; books, regulars, consultancy and distribution. The business has a huge product portfolio and its significant items include books, periodicals, online media, exhibitions, research reports etc. Health Data Management And Knowledge Discovery Case Study Solution has become a specialized info service provider and a big detailed Science and Innovation publishing business through the combination of print media, audio-visual media and the network media.
CMP has actually invested its 60 years journey smoothly, being an effective publishing house, nevertheless, the altering macro market trends and forces bring particular challenges to the publishing market in general and Health Data Management And Knowledge Discovery Case Study Solution in particular. These aspects include;
• Entryway of the brand-new publishing firms in the industry.
• Decreasing growth of the publishing market.
• Market saturation.
• Introduction of digital publishing methods
• Enhancement of science and innovation.
The change of the macro markets have raised numerous 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 pursue the future development unceasingly? How could the business sustain its long term competitive position in future?
Health Data Management And Knowledge Discovery Case Study Analysis has specific strengths that can be made use of to reduce the dangers, overcome the weak point and avail the opportunities. Strengths of CMP are provided as follows;
• The long term experience of Health Data Management And Knowledge Discovery Case Study Analysis in the publishing market i.e. 60 years permits the business to supply high quality products at a lower expense utilizing its previous experiences.
• The technical resources and capabilities generated by its effective journey provide a competitive benefit to CMP.
• Large item portfolioof CMP assists it to diversify its threat and supply high worth to its consumers.
• Strong financial position allows the company to think about several development opportunities with no fear of raising fund externally.
Together with the strengths, the company has certain weak points which might increase restrictions for the company in executing its development program. The weak points of Health Data Management And Knowledge Discovery Case Study Solution are provided as follows;
• Despite of being a science and innovation publishing company, the business still has traditional methods ofpublishing which are not compatible with the growing technological shift.
• CMP highly relies over the Chinese markets for its development. It ought to propose certain expansion plans to avoid its reliance over the Chinese markets to accomplish long term development.
The development of the publishing market is decreasing since 2008, affecting Health Data Management And Knowledge Discovery Case Study Help as well, however the growth might be revived by availing certain opportunities provided in the market. The marketplace opportunities for CMP consist of;
• The company might also introduce Digital Publishing by utilizing its long term technical experience and a strong consumer acknowledgment in the market.
• CMP could consider a development program through the growth towards foreign markets in order to reduce its reliance over Chinese markets by utilizing its large funds.
The altering macro trends in the market and increasing competition in the publishing market has actually posed certain hazards to Health Data Management And Knowledge Discovery Case Study Help including;( Gurel, 2017).
• Introduction of digital publishing i.e. virtual libraries could cause decreasing market share of Health Data Management And Knowledge Discovery Case Study Help due to the consumer shift towards virtual libraries.
• The presence of a great deal of rivals in the publishing market increase the hazard for CMP to lose its competitive position in the market, as rivals can gain a strong consumer base by utilizing certain methods like aggressive promo, quality items, etc.
• Entrance of brand-new publishing firms in the market in addition to presence of high competition increases the risk of losing the customer base.
Due to absence of data, the monetary ratios of CMP could not be determined. It might be examined from the Appendix III that the yearly total incomes of Health Data Management And Knowledge Discovery Case Study Analysis during the duration 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 rather effective in attracting a big number of clients at a prospective price.
Along with it, the 2nd chart which reveals the yearly development in the Health Data Management And Knowledge Discovery Case Study Help overall assets, reveals that the business is quite effective in adding worth to its possessions through its earnings. The development in possessions shows that the total worth of the company is also increasing with increasing the total incomes. (Unknown, 2013).
Another monetary analysis of the business utilizing the offered data might be the analysis concerning the circulation of overall profits of the company. Major part of the incomes of CMP originates from the sales of its published books i.e. 64% as displayed in the Case Appendix V. The company might move towards other company sectors with a prospective growth to achieve its future advancement objective.
PESTEL analysis could be carried out to discover the various external forces affecting the performance of the business and the recent trends in the external environment of the business. A brief PESTEL analysis of the company is given as follows; (Alanzi, 2018).
As the publishing sector might have a significant influence on the frame of mind of the people about the communist ideology of the federal government, therefore, the publishing sector is extremely supervised and assisted by the Promotion 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 concerning the publishing sector are likewise increasing with the passage of time.
Financial forces impacting the publishing sector in general and the CMP in specific includesthe rates of paper, the income level of consumers, the inflation rate, and the total GDP development of the country. All these forces integrate impact the demand for the publishing market.
Social and Demographical.
The customer preferences are shifting towards digital publishing rather than the standard was of publishing. In this regard, CMP ought to focus on digital publishing to satisfy the altering customer choices.
Technological forces affecting the CMP consist of the technological improvement in the reading techniques etc. Improvement of science and innovation together with the increase of digital publishing could decrease the need for the CMP items, if particular actions would not be taken quickly.
Ecological forces affecting Health Data Management And Knowledge Discovery Case Study Analysis includes the concerns of environmental neighborhoods over the use 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 hazardous for the environment.
Legal regulations for the publishing sector at whole are high. Publishing Regulation 1997 requires the publishers to be authorized initially by the Government to be gone into in the publishing market.
Market Analysis (Porter's Five Forces Model).
Porter's Five Forces Design might be used to analyze the attractiveness of the publishing industry China. A brief analysis of the Porter's Five Forces is given as follows;.
Hazard of New Entrants.
Hazards of new entrants in the Chinese Publishing Industry is moderate. The prospective growth in the market tends to bring in brand-new entrants to the publishing market. Nevertheless, the presence of intense competitors and the requirement of big capital tends to demotivate new entrants to enter in the marketplace.
Hazard of Alternative.
Danger of Replacement is high for the Chinese Publishing Industry. The substitute products for the published files is the files provided in the digital libraries on specific sites. The altering customer preferences towards digital knowing increase the threat of substitution for the industry.
Competitive rivalry in the publishing industry is high. The existence of a great deal of customers in the Chinese Publishing Industry like CIP, PTP etc. tends to produce high competitive competition for CMP. Together with it, new entrants are likewise participating in the market increasing the competitors for CMP.
Bargaining Power of Provider.
The significant suppliers of the Health Data Management And Knowledge Discovery Case Study Solution include the suppliers of the paper for releasing documents. As CMP is the biggest publisher in the Chinese Publishing Market, therefore the general 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 presence of a a great deal of publishers in the Chinese market and the market saturation, the buyers requires high quality files at competitive costs.
CMP runs in an extremely competitive industry with the existence of large number of competitors. The company has a competitive position in the market with the highest market share in the Chinese publishing market. Major competitors of Health Data Management And Knowledge Discovery Case Study Solution include;.
• Chemical Industry Press (CIP).
• Posts and telecommunication Press (PTP).
Chemical Market Press (CIP).
CIP acts as a hazard 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 quickly in the present market situation.
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 terms of service scale. It is likewise among the prominent gamers in the publishing industry with a yearly total revenues of RMB 550 million in 2010.
Alternative-1: Expand towards New Markets
• Reducing reliance over the Chinese markets.
• Increasing number of Consumers
• Growth chances.
• Preventing the impact of market saturation in the Chinese publishing industry.
• Usage of prospective resources in growth.
• Threat of failure in brand-new markets.
• Time consuming.
Alernative-2: Present Digital Publishing
• Sustaining customer base.
• Approaching brand-new markets.
• Easy to introduce utilizing current abilities.
• Low threat of Failure.
• Low requirement for funds.
• Increased product portfolio offers high value to consumers.
• Competition 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 items in the market.
With the deep analysis of the external and internal environment of the company along with the industry analysis and the rival analysis, Alternative 2 is advised to CMP to achieve its future advancement. As the choices are shifting towards digital publishing and the business require an immediate option to avoid the decreasing market development. For that reason, introduction of digital publishing might prove to be an instant service with low quantity of danger for the business. Nevertheless, the company might also think about the expansion program after the success of its digital publishing program.
In order to present digital publishing in its product portfolio, the company ought to initially collects the data associated with the consumer demand, the prospective markets, the federal government guidelines and the data associated with the rivals presented in the market. After that, the business needs to decide one potential section for its initial offering. It needs to gather research that how it might separate its digital publishing from the existing rivals' items. The actions above the business should go for the initial offering. The company ought to go for the other markets if the preliminary offering proves a success. In this way the business would have the ability to execute its digital publishing program.
Although, the growth of the publishing market is declining considering that 2008, showing a threat to the company's long term existence, however the situation can be controlled by considering an advancement strategy in the future. The company could consider introducing digital publishingin its existing market to implement its development program at instant basis and to avoid the threat of failure for entrance in the new markets.