Inciting A Computer Revolution In Health Care Implementing The Health Information Technology Act Case Study Solution and Analysis
Introduction
Inciting A Computer Revolution In Health Care Implementing The Health Information Technology Act Case Study Solution is the biggest publishing business with a highest market share in the China's book retail market. CMP offers a variety of services consisting of; gathering info, processing details and interaction services. Significant company segments of the company consist of; books, periodicals, consultancy and distribution. The company has a vast product portfolio and its significant items include books, periodicals, online media, exhibits, research reports etc. Inciting A Computer Revolution In Health Care Implementing The Health Information Technology Act Case Study Analysis has actually become a specialized information supplier and a large detailed Science and Innovation publishing company through the combination of print media, audio-visual media and the network media.
Important Concerns
Although, Inciting A Computer Revolution In Health Care Implementing The Health Information Technology Act Case Study Help has invested its 60 years journey efficiently, being a successful publishing house, nevertheless, the changing macro market trends and forces bring certain challenges to the publishing market in basic and CMP in particular. These elements consist of;
• Entrance of the brand-new publishing firms in the market.
• Declining development of the publishing market.
• Market saturation.
• Intro of digital publishing methods
• Enhancement of science and technology.
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 circumstance? Do the long important experience, technical resources and the abilities of the company could be made use of to strive for the future development unceasingly? How could the company sustain its long term competitive position in future?
Situational Analysis
Internal Analysis
SWOT Analysis
Strengths
Inciting A Computer Revolution In Health Care Implementing The Health Information Technology Act Case Study Help has certain strengths that can be utilized to decrease the dangers, overcome the weak point and obtain the opportunities. Strengths of CMP are given as follows;
• The long term experience of Inciting A Computer Revolution In Health Care Implementing The Health Information Technology Act Case Study Help in the publishing market i.e. 60 years permits the company to offer high quality items at a lower expense using its previous experiences.
• The technical resources and abilities generated by its effective journey supply a competitive advantage to CMP.
• Large product portfolioof CMP helps it to diversify its danger and supply high value to its consumers.
• Strong monetary position permits the business to think about numerous development chances without any fear of raising fund externally.
Weak points
In addition to the strengths, the business has specific weaknesses which could increase restrictions for the business in implementing its development program. The weaknesses of Inciting A Computer Revolution In Health Care Implementing The Health Information Technology Act Case Study Analysis are provided as follows;
• Despite of being a science and technology publishing firm, the company still has standard ways ofpublishing which are not compatible with the growing technological shift.
• CMP extremely relies over the Chinese markets for its growth. It ought to propose particular expansion plans to prevent its dependence over the Chinese markets to accomplish long term development.
Opportunities
The development of the publishing industry is declining since 2008, affecting Inciting A Computer Revolution In Health Care Implementing The Health Information Technology Act Case Study Help as well, however the growth could be restored by availing certain opportunities provided in the market. The marketplace opportunities for CMP include;
• The business might also introduce Digital Publishing by utilizing its long term technical experience and a strong consumer acknowledgment in the market.
• CMP could think about a development program through the expansion towards foreign markets in order to minimize its dependence over Chinese markets by using its vast financial resources.
Dangers
The changing macro trends in the market and increasing competitors in the publishing industry has presented certain risks to Inciting A Computer Revolution In Health Care Implementing The Health Information Technology Act Case Study Solution consisting of;( Gurel, 2017).
• Introduction of digital publishing i.e. digital libraries could lead to declining market share of Inciting A Computer Revolution In Health Care Implementing The Health Information Technology Act Case Study Analysis due to the consumer shift towards digital libraries.
• The existence of large number of rivals in the publishing industry increase the risk for CMP to lose its competitive position in the market, as rivals can acquire a strong customer base by utilizing specific strategies like aggressive promotion, quality products, and so on
• Entryway of brand-new publishing companies in the industry along with existence of high competitors increases the hazard of losing the client base.
Monetary Analysis.
Due to lack of information, the financial ratios of CMP could not be computed. It could be analyzed from the Appendix III that the yearly total revenues of Inciting A Computer Revolution In Health Care Implementing The Health Information Technology Act Case Study Solution during the period 2000-2012 are growing at a high development rate, revealing that the yearly demand of the products of CMP is growing and the company is quite efficient in drawing in a large number of customers at a potential price.
Together with it, the 2nd chart which reveals the annual development in the Inciting A Computer Revolution In Health Care Implementing The Health Information Technology Act Case Study Solution overall assets, shows that the business is quite efficient in including value to its assets through its revenues. The growth in possessions reveals that the overall value of the company is also increasing with increasing the overall incomes. (Unidentified, 2013).
Another monetary analysis of the business utilizing the offered information could be the analysis concerning the circulation of overall profits of the business. Major part of the earnings of CMP comes from the sales of its published books i.e. 64% as displayed in the Case Appendix V. The business might move towards other service sections with a potential growth to attain its future development goal.
PESTEL Analysis
PESTEL analysis might be performed to learn the different external forces impacting the efficiency of the business and the current patterns in the external environment of the company. A quick PESTEL analysis of the business is offered as follows; (Alanzi, 2018).
Political.
As the publishing sector could have a significant influence on the state of mind of the people about the communist ideology of the federal government, therefore, the publishing sector is highly monitored and directed by the Promotion Department of the Communist Party of China. For that reason, it could be said that the general political forces affecting Inciting A Computer Revolution In Health Care Implementing The Health Information Technology Act Case Study Help company are high. The federal government policies concerning the publishing sector are also increasing with the passage of time.
Affordable.
Economic forces impacting the publishing sector in basic and the Inciting A Computer Revolution In Health Care Implementing The Health Information Technology Act Case Study Help in particular includesthe costs of paper, the earnings level of customers, the inflation rate, and the overall GDP development of the country. All these forces integrate impact the demand for the publishing market. Together with it, the financial policies associated with the import of books impact the overall business at CPM. Nevertheless, China's economic conditions are quite favorable for CMP with high GDP growth and consumer income level.
Social and Demographical.
The customer preferences are moving towards digital publishing rather than the traditional was of publishing. In this regard, CMP ought to focus on digital publishing to fulfill the altering consumer preferences.
Technological.
Technological forces impacting the CMP include the technological improvement in the reading strategies and so on. Enhancement of science and innovation together with the increase of digital publishing might reduce the demand for the CMP items, if particular actions would not be taken soon.
Environmental.
Ecological forces impacting Inciting A Computer Revolution In Health Care Implementing The Health Information Technology Act Case Study Solution includes the issues of environmental communities over the usage of paper in publishing books. The paper utilized in the books while publishing is needed to be disposable and the ink utilized while publishing must not be damaging for the environment.
Legal.
Legal policies for the publishing sector at whole are high. The legal regulations relating to the publishing sector is managed by the General Administration of Press and Publication. Publishing Ordinance 1997 requires the publishers to be approved initially by the Federal government to be entered in the publishing market. The regulation forbids direct participation of foreign entities and individuals in the publishing sector.
Market Analysis (Porter's 5 Forces Design).
Porter's Five Forces Design might be utilized to evaluate the beauty of the publishing market China. A quick analysis of the Porter's 5 Forces is provided as follows;.
Hazard of New Entrants.
Risks of brand-new entrants in the Chinese Publishing Market is moderate. The prospective growth in the industry tends to attract new entrants to the publishing industry. However, the existence of extreme competition and the requirement of huge capital tends to demotivate new entrants to enter in the market.
Danger of Replacement.
Threat of Replacement is high for the Chinese Publishing Market. The substitute items for the published files is the files provided in the virtual libraries on specific sites. The altering customer choices towards digital learning increase the danger of replacement for the industry.
Competitive Competition.
Competitive rivalry in the publishing industry is high. The existence of a great deal of consumers in the Chinese Publishing Industry like CIP, PTP etc. tends to produce high competitive rivalry for CMP. In addition to it, new entrants are also entering into the market increasing the competition for CMP.
Bargaining Power of Provider.
The significant suppliers of the Inciting A Computer Revolution In Health Care Implementing The Health Information Technology Act Case Study Solution consist of the suppliers of the paper for publishing 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.
Bargaining 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 marketplace saturation, the purchasers needs high quality documents at competitive costs.
Competitors Analysis.
CMP runs in an extremely competitive industry with the existence of a great deal of rivals. Nevertheless, the business has a competitive position in the market with the highest market share in the Chinese publishing market. Significant competitors of Inciting A Computer Revolution In Health Care Implementing The Health Information Technology Act Case Study Help consist of;.
• Chemical Industry 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 might wean the market share of CMP quickly in the present market situation.
Posts and telecommunication Press (PTP).
It was also established in the very same period as Inciting A Computer Revolution In Health Care Implementing The Health Information Technology Act Case Study Analysis and CIP. It is likewise one of the popular gamers in the publishing industry with a yearly total revenues of RMB 550 million in 2010.
Alternatives
Alternative-1: Broaden towards New Markets
Pros
• Decreasing reliance over the Chinese markets.
• Increasing variety of Customers
• Growth chances.
• Avoiding the impact of market saturation in the Chinese publishing industry.
Cons
• Usage of prospective resources in growth.
• Threat of failure in brand-new markets.
• Time consuming.
Alernative-2: Present Digital Publishing
Pros
• Sustaining consumer base.
• Approaching brand-new markets.
• Easy to present using existing capabilities.
• Low threat of Failure.
• Low requirement for funds.
• Increased item portfolio offers high worth to clients.
Cons
• Competition in the market by CIP, who has prior focus on the digital publishing.
• Shift of focus from the core service sections to the brand-new one can lead the company to lose need of its products in the market.
Suggestions
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 recommended to CMP to attain its future advancement. As the choices are moving towards digital publishing and the company need an instant service to prevent the declining market growth. For that reason, introduction of digital publishing could show to be an instant option with low amount of risk for the business. However, the company might also think about the expansion program after the success of its digital publishing program.
Implementation
In order to introduce digital publishing in its item portfolio, the business needs to initially gathers the information related to the customer need, the potential markets, the federal government guidelines and the data associated with the rivals presented in the market. After that, the business ought to decide one prospective sector for its initial offering. It must gather research that how it might separate its digital publishing from the existing competitors' items. After all the actions above the business must opt for the preliminary offering. If the preliminary offering proves a success, the company should choose the other markets. In this method the company would be able to implement its digital publishing program.
Conclusion
The development of the publishing industry is declining because 2008, revealing a threat to the company's long term existence, but the scenario can be managed by considering a development plan in the future. The business might consider presenting digital publishingin its existing market to execute its development program at immediate basis and to prevent the risk of failure for entryway in the brand-new markets.
