How Can Social Media Encourage Civic Participation Case Study Solution and Analysis
How Can Social Media Encourage Civic Participation Case Study Analysis is the largest publishing company with a greatest market share in the China's book retail market. CMP offers a variety of services consisting of; collecting information, processing info and interaction services. Major service segments of the company include; books, regulars, consultancy and distribution. The business has a vast product portfolio and its major products include books, regulars, online media, exhibitions, research reports and so on. How Can Social Media Encourage Civic Participation Case Study Analysis has actually become a specialized information 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 actually invested its 60 years journey efficiently, being an effective publishing home, however, the changing macro market trends and forces bring particular difficulties to the publishing industry in basic and How Can Social Media Encourage Civic Participation Case Study Analysis in specific. These elements consist of;
• Entrance of the new publishing firms in the industry.
• Declining development of the publishing market.
• Market saturation.
• Introduction 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 circumstance? Do the long important experience, technical resources and the capabilities of the business could be utilized to strive for the future development unceasingly? How could the business sustain its long term competitive position in future?
How Can Social Media Encourage Civic Participation Case Study Help has particular strengths that can be utilized to reduce the threats, overcome the weak point and obtain the chances. Strengths of CMP are given as follows;
• The long term experience of How Can Social Media Encourage Civic Participation Case Study Help in the publishing industry i.e. 60 years enables the business to supply high quality items at a lower cost using its prior experiences.
• The technical resources and capabilities produced by its successful journey supply a competitive benefit to CMP.
• Large product portfolioof CMP helps it to diversify its danger and offer high worth to its consumers.
• Strong financial position enables the business to think about a number of development chances with no worry of raising fund externally.
Together with the strengths, the business has particular weaknesses which could increase restrictions for the company in executing its advancement program. The weaknesses of How Can Social Media Encourage Civic Participation Case Study Analysis are offered as follows;
• Despite of being a science and innovation publishing company, the business still has conventional ways ofpublishing which are not suitable with the growing technological shift.
• CMP highly relies over the Chinese markets for its growth. It should propose specific expansion strategies to prevent its dependence over the Chinese markets to achieve long term development.
Although, the development of the publishing industry is declining considering that 2008, impacting How Can Social Media Encourage Civic Participation Case Study Solution too, however the growth could be revived by availing particular opportunities provided in the market. The marketplace opportunities for CMP consist of;
• The business could also introduce Digital Publishing by utilizing its long term technical experience and a strong client acknowledgment in the market.
• CMP could think about a development program through the expansion towards foreign markets in order to lower its dependence over Chinese markets by utilizing its large funds.
The changing macro patterns in the market and increasing competition in the publishing market has actually postured specific dangers to How Can Social Media Encourage Civic Participation Case Study Analysis including;( Gurel, 2017).
• Introduction of digital publishing i.e. digital libraries might result in decreasing market share of How Can Social Media Encourage Civic Participation Case Study Analysis due to the consumer shift towards virtual libraries.
• The existence of a great deal of competitors in the publishing industry increase the danger for CMP to lose its competitive position in the market, as rivals can acquire a strong consumer base by utilizing specific strategies like aggressive promotion, quality items, etc.
• Entryway of new publishing firms in the market along with presence of high competitors increases the threat of losing the client base.
The business has a quite competitive financial efficiency. Due to lack of information, the monetary ratios of CMP might not be computed. However, the general financial efficiency of the business might be analyzed by utilizing the charts given up the case Appendices. It might be evaluated from the Appendix III that the yearly overall revenues of CMP during the period 2000-2012 are growing at a high growth rate, revealing that the annual need of the products of How Can Social Media Encourage Civic Participation Case Study Solution is growing and the company is quite effective in bring in a large number of consumers at a possible rate.
In addition to it, the 2nd graph which reveals the annual growth in the How Can Social Media Encourage Civic Participation Case Study Help total possessions, reveals that the business is quite efficient in including value to its properties through its revenues. The growth in assets shows that the total value of the firm is likewise increasing with increasing the total profits. (Unidentified, 2013).
Another monetary analysis of the business using the provided data might be the analysis concerning the distribution of total earnings of the business. Major part of the earnings of CMP originates from the sales of its released books i.e. 64% as shown in the Case Appendix V. The company could move towards other service sections with a potential growth to achieve its future development goal.
PESTEL analysis might be carried out to discover the different external forces affecting the performance of the business and the recent trends in the external environment of the company. A short PESTEL analysis of the company is provided as follows; (Alanzi, 2018).
As the publishing sector might have a significant impact on the state of mind of the people about the communist ideology of the federal government, therefore, the publishing sector is highly supervised and assisted by the Promotion Department of the Communist Celebration of China. It might be said that the overall political forces affecting CMP organisation are high. The federal government policies concerning the publishing sector are also increasing with the passage of time.
Economic forces affecting the publishing sector in basic and the How Can Social Media Encourage Civic Participation Case Study Solution in particular includesthe prices of paper, the earnings level of customers, the inflation rate, and the general GDP development of the nation. All these forces integrate impact the demand for the publishing market. Along with it, the financial policies connected to the import of books impact the general service at CPM. China's economic conditions are quite beneficial for CMP with high GDP growth and consumer income level.
Social and Demographical.
The consumer preferences 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 altering consumer preferences.
Technological forces affecting the CMP include the technological development in the reading techniques etc. Improvement of science and innovation in addition to the rise of digital publishing could reduce the need for the CMP products, if particular actions would not be taken quickly.
Environmental forces affecting How Can Social Media Encourage Civic Participation Case Study Help consists of the issues of environmental neighborhoods over the usage of paper in publishing books. The paper utilized in the books while publishing is required to be non reusable and the ink used while publishing ought to not be damaging for the environment.
Legal regulations for the publishing sector at whole are high. The legal guidelines relating to the publishing sector is managed by the General Administration of Press and Publication. Publishing Regulation 1997 requires the publishers to be approved initially by the Government to be gone into in the publishing market. The ordinance forbids direct involvement of foreign entities and individuals in the publishing sector.
Market Analysis (Porter's Five Forces Model).
Porter's Five Forces Model might be utilized to analyze the appearance of the publishing industry China. A quick analysis of the Porter's Five Forces is provided as follows;.
Threat of New Entrants.
Threats of new entrants in the Chinese Publishing Industry is moderate. The potential development in the market tends to bring in new entrants to the publishing market. However, the presence of intense competition and the requirement of big capital tends to demotivate brand-new entrants to go into in the marketplace.
Risk of Substitution.
Risk of Replacement is high for the Chinese Publishing Market. The substitute items for the published documents is the documents presented in the virtual libraries on particular websites. The changing customer preferences towards digital learning increase the risk of substitution for the market.
Competitive rivalry in the publishing industry is high. The existence of large number of customers in the Chinese Publishing Market like CIP, PTP and so on tends to produce high competitive rivalry for CMP. In addition to it, brand-new entrants are also entering into the market increasing the competitors for CMP.
Bargaining Power of Supplier.
The significant providers of the How Can Social Media Encourage Civic Participation Case Study Help consist of the providers of the paper for releasing files. 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 Purchaser.
Haggling power of buyer in the publishing industry is high. Due to the existence of a a great deal of publishers in the Chinese market and the market saturation, the purchasers needs high quality files at competitive prices.
CMP operates in a highly competitive industry with the presence of large number of competitors. Nevertheless, the company has a competitive position in the market with the greatest market share in the Chinese publishing market. Major competitors of How Can Social Media Encourage Civic Participation Case Study Analysis consist of;.
• Chemical Market Press (CIP).
• Posts and telecommunication Press (PTP).
Chemical Market Press (CIP).
CIPis one of the close rivals of CMP. Established in the exact same period, CIP releases comparable type of books. For a large period, CIP held the biggest market share, and still ranks 3rd and second in different market segments, with a major concentrate on academic publications. CIP acts as a hazard 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 How Can Social Media Encourage Civic Participation Case Study Analysis quickly in the present market situation.
Posts and telecommunication Press (PTP).
Another close rival of CMP is PTP. It was also established in the very same duration as CMP and CIP. It ranks sixth in the state-owned publishers in regards to business scale. It is also one of the prominent gamers in the publishing market with an annual total earnings of RMB 550 million in 2010.
Alternative-1: Broaden towards New Markets
• Decreasing reliance over the Chinese markets.
• Increasing number of Consumers
• Growth opportunities.
• Avoiding the impact of market saturation in the Chinese publishing market.
• Usage of possible resources in growth.
• Danger of failure in new markets.
• Time consuming.
Alernative-2: Introduce Digital Publishing
• Sustaining customer base.
• Approaching brand-new markets.
• Easy to present using current capabilities.
• Low danger of Failure.
• Low requirement for funds.
• Increased product portfolio provides high worth to consumers.
• Competitors in the market by CIP, who has prior focus on the digital publishing.
• Shift of focus from the core service segments to the new one can lead the company to lose need of its products in the market.
As the choices are moving towards digital publishing and the company need an immediate service to avoid the decreasing industry growth. The company could also think about the growth program after the success of its digital publishing program.
In order to introduce digital publishing in its product portfolio, the business ought to initially gathers the information related to the consumer need, the potential markets, the government policies and the information related to the competitors presented in the market. If the preliminary offering shows a success, the company must go for the other markets. In this method the company would be able to execute its digital publishing program.
Although, the development of the publishing industry is declining considering that 2008, showing a threat to the business's long term existence, but the situation can be controlled by considering a development plan in the future. The company could think about presenting digital publishingin its existing market to execute its advancement program at instant basis and to prevent the danger of failure for entrance in the new markets.