Inciting A Computer Revolution In Health Care Implementing The Health Information Technology Act Case Study Solution and Analysis
Inciting A Computer Revolution In Health Care Implementing The Health Information Technology Act Case Study Analysis is the biggest publishing company with a highest market share in the China's book retail market. CMP has become a specialized information service provider and a big extensive Science and Innovation publishing company through the combination of print media, audio-visual media and the network media.
Although, Inciting A Computer Revolution In Health Care Implementing The Health Information Technology Act Case Study Help has actually spent its 60 years journey smoothly, being a successful publishing house, however, the altering macro market trends and forces bring certain obstacles to the publishing market in basic and CMP in particular. These aspects include;
• Entryway of the brand-new publishing firms in the industry.
• Declining growth of the publishing market.
• Market saturation.
• Intro of digital publishing methods
• Improvement of science and technology.
The improvement 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 capabilities 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?
Inciting A Computer Revolution In Health Care Implementing The Health Information Technology Act Case Study Solution has specific strengths that can be made use of to decrease the dangers, conquer the weak point and avail the opportunities. Strengths of CMP are provided 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 allows the business to supply high quality products at a lower expense utilizing its previous experiences.
• The technical resources and capabilities produced by its successful journey offer a competitive benefit to CMP.
• Vast item portfolioof CMP assists it to diversify its danger and offer high value to its clients.
• Strong financial position permits the company to consider numerous advancement chances without any fear of raising fund externally.
In addition to the strengths, the business has specific weaknesses which could increase restraints for the business in executing its development program. The weak points of Inciting A Computer Revolution In Health Care Implementing The Health Information Technology Act Case Study Help are given as follows;
• Despite of being a science and innovation publishing firm, the business still has traditional ways ofpublishing which are not suitable with the growing technological shift.
• CMP highly relies over the Chinese markets for its development. It should propose specific growth plans to prevent its dependence over the Chinese markets to achieve long term growth.
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 might be restored by availing particular opportunities provided in the market. The market chances for CMP consist of;
• The company might likewise introduce Digital Publishing by using 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 decrease its reliance over Chinese markets by utilizing its vast financial resources.
The changing macro trends in the market and increasing competitors in the publishing industry has positioned specific threats to Inciting A Computer Revolution In Health Care Implementing The Health Information Technology Act Case Study Solution consisting of;( Gurel, 2017).
• Intro of digital publishing i.e. virtual libraries could result in decreasing market share of Inciting A Computer Revolution In Health Care Implementing The Health Information Technology Act Case Study Help due to the consumer shift towards virtual libraries.
• The existence of large number of rivals in the publishing industry increase the hazard for CMP to lose its competitive position in the market, as rivals can get a strong consumer base by utilizing certain methods like aggressive promotion, quality items, etc.
• Entrance of new publishing companies in the industry along with existence of high competition increases the danger of losing the customer base.
The business has a rather competitive monetary efficiency. Due to lack of data, the monetary ratios of CMP could not be determined. The total monetary efficiency of the company could be analyzed by utilizing the charts offered in the case Appendices. It could be examined from the Appendix III that the yearly total profits of CMP throughout the duration 2000-2012 are growing at a high development rate, showing that the yearly need of the items of Inciting A Computer Revolution In Health Care Implementing The Health Information Technology Act Case Study Analysis is growing and the business is quite efficient in bring in a large number of clients at a potential price.
In addition to it, the 2nd chart which shows the annual growth in the Inciting A Computer Revolution In Health Care Implementing The Health Information Technology Act Case Study Help total properties, reveals that the business is rather efficient in adding value to its properties through its revenues. The development in possessions reveals that the overall worth of the firm is likewise increasing with increasing the overall profits. (Unknown, 2013).
Another financial analysis of the business using the offered information could be the analysis regarding the circulation of total profits of the company. Major part of the incomes of CMP comes from the sales of its released books i.e. 64% as displayed in the Case Appendix V. The business could move towards other company sectors with a potential development to accomplish its future advancement goal.
PESTEL analysis might be carried out to learn the various external forces impacting the performance of the business and the current trends in the external environment of the company. A brief PESTEL analysis of the company is provided as follows; (Alanzi, 2018).
As the publishing sector could have a substantial effect on the mindset of individuals about the communist ideology of the federal government, for that reason, the publishing sector is highly monitored and directed by the Publicity Department of the Communist Celebration of China. For that reason, it might be said that the general political forces affecting Inciting A Computer Revolution In Health Care Implementing The Health Information Technology Act Case Study Help business are high. The federal government policies relating to the publishing sector are likewise increasing with the passage of time.
Economic forces impacting the publishing sector in basic and the CMP in particular includesthe rates of paper, the income level of consumers, the inflation rate, and the total GDP development of the nation. All these forces integrate impact the need for the publishing market.
Social and Demographical.
Social and demographical forces consist of the population growth, the consumer's choices towards reading helpful materials etc. China has the greatest population worldwide with a high population development, showing the increasing variety of customers of the Inciting A Computer Revolution In Health Care Implementing The Health Information Technology Act Case Study Help. The consumer preferences are moving towards digital publishing rather than the conventional was of publishing. In this regard, CMP should focus on digital publishing to satisfy the changing consumer preferences.
Technological forces impacting the CMP consist of the technological improvement in the reading strategies etc. Improvement of science and innovation in addition to the increase of digital publishing might reduce the need for the CMP products, if specific actions would not be taken quickly.
Environmental forces impacting Inciting A Computer Revolution In Health Care Implementing The Health Information Technology Act Case Study Analysis consists of the concerns of environmental neighborhoods over the use of paper in publishing books. The paper used in the books while publishing is needed to be disposable and the ink used while publishing must not be hazardous for the environment.
Legal regulations for the publishing sector at whole are high. The legal guidelines relating to the publishing sector is controlled by the General Administration of Press and Publication. Publishing Ordinance 1997 requires the publishers to be approved initially by the Federal government to be gone into in the publishing market. The ordinance forbids direct participation of foreign entities and individuals in the publishing sector.
Industry Analysis (Porter's 5 Forces Model).
Porter's Five Forces Model might be used to examine the attractiveness of the publishing market China. A quick analysis of the Porter's Five Forces is given as follows;.
Threat of New Entrants.
Risks of new entrants in the Chinese Publishing Market is moderate. The potential development in the market tends to draw in brand-new entrants to the publishing industry. However, the existence of intense competition and the requirement of huge capital tends to demotivate new entrants to go into in the marketplace.
Threat of Alternative.
Risk of Replacement is high for the Chinese Publishing Industry. The substitute items for the published documents is the documents presented in the digital libraries on specific sites. The changing customer choices towards digital learning increase the threat of alternative for the market.
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 likewise participating in the marketplace increasing the competitors for CMP.
Bargaining Power of Supplier.
The significant suppliers of the Inciting A Computer Revolution In Health Care Implementing The Health Information Technology Act Case Study Analysis include the suppliers of the paper for publishing documents. As CMP is the largest publisher in the Chinese Publishing Market, for that reason the general bargaining power of provider for CMP is low.
Bargaining Power of Purchaser.
Bargaining power of purchaser in the publishing market 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 documents at competitive prices.
CMP operates in a highly competitive industry with the existence of a great deal of competitors. However, the company has a competitive position in the market with the highest market share in the Chinese publishing market. Significant rivals of Inciting A Computer Revolution In Health Care Implementing The Health Information Technology Act Case Study Solution include;.
• Chemical Market Press (CIP).
• Posts and telecommunication Press (PTP).
Chemical Industry Press (CIP).
CIP acts as a risk 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 existing market scenario.
Posts and telecommunication Press (PTP).
It was likewise founded in the exact 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 prominent gamers in the publishing industry with a yearly overall incomes of RMB 550 million in 2010.
Alternative-1: Expand towards New Markets
• Minimizing dependence over the Chinese markets.
• Increasing number of Consumers
• Development chances.
• Preventing the impact of market saturation in the Chinese publishing industry.
• Use of prospective resources in expansion.
• Risk of failure in new markets.
• Time consuming.
Alernative-2: Present Digital Publishing
• Sustaining customer base.
• Approaching brand-new markets.
• Easy to present using existing capabilities.
• Low risk of Failure.
• Low requirement for funds.
• Increased product portfolio offers high value to clients.
• Competition in the market by CIP, who has prior concentrate on the digital publishing.
• Shift of focus from the core service sectors to the brand-new one can lead the business to lose need of its items in the market.
As the choices are shifting towards digital publishing and the company require an immediate option to prevent the declining market growth. The company might also consider the growth program after the success of its digital publishing program.
In order to present digital publishing in its item portfolio, the company ought to initially collects the information related to the consumer need, the prospective markets, the government policies and the data related to the rivals provided in the market. If the initial offering proves a success, the business needs to go for the other markets. In this way the company would be able to execute its digital publishing program.
The growth of the publishing industry is decreasing since 2008, revealing a hazard to the business's long term presence, however the scenario can be controlled by thinking about a development plan in the future. The company could think about presenting digital publishingin its existing market to implement its advancement program at immediate basis and to avoid the risk of failure for entryway in the new markets.