Inciting A Computer Revolution In Health Care Weighing The Merits Of The Health Information Technology Act Case Study Solution and Analysis
Intro
Inciting A Computer Revolution In Health Care Weighing The Merits Of The Health Information Technology Act Case Study Analysis is the largest publishing company with a greatest market share in the China's book retail market. CMP offers a number of services consisting of; gathering details, processing details and communication services. Major service sectors of the company consist of; books, regulars, consultancy and distribution. The company has a large item portfolio and its significant products consist of books, regulars, online media, exhibits, research study reports and so on. Inciting A Computer Revolution In Health Care Weighing The Merits Of The Health Information Technology Act Case Study Help has actually become a specialized info supplier and a large comprehensive Science and Technology publishing business through the integration of print media, audio-visual media and the network media.
Critical Problems
Although, Inciting A Computer Revolution In Health Care Weighing The Merits Of The Health Information Technology Act Case Study Solution has invested its 60 years journey efficiently, being an effective publishing house, however, the changing macro market trends and forces bring particular challenges to the publishing industry in basic and CMP in particular. These aspects consist of;
• Entrance of the new publishing companies in the industry.
• Decreasing development of the publishing market.
• Market saturation.
• Intro of digital publishing strategies
• Improvement 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 situation? Do the long important experience, technical resources and the capabilities of the company could be used to pursue the future advancement 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 Weighing The Merits Of The Health Information Technology Act Case Study Solution has certain strengths that can be made use of to decrease the hazards, conquer the weak point and get the chances. Strengths of CMP are given as follows;
• The long term experience of Inciting A Computer Revolution In Health Care Weighing The Merits Of The Health Information Technology Act Case Study Analysis in the publishing industry i.e. 60 years allows the company to offer high quality products at a lower cost using its previous experiences.
• The technical resources and capabilities generated by its effective journey provide a competitive advantage to CMP.
• Huge product portfolioof CMP assists it to diversify its threat and offer high worth to its clients.
• Strong monetary position allows the business to consider a number of advancement opportunities with no fear of raising fund externally.
Weak points
Along with the strengths, the business has certain weaknesses which could increase restrictions for the business in implementing its development program. The weak points of Inciting A Computer Revolution In Health Care Weighing The Merits Of The Health Information Technology Act Case Study Solution are provided 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 extremely relies over the Chinese markets for its development. It needs to propose particular expansion strategies to avoid its dependence over the Chinese markets to accomplish long term development.
Opportunities
The growth of the publishing industry is declining since 2008, affecting Inciting A Computer Revolution In Health Care Weighing The Merits Of The Health Information Technology Act Case Study Analysis as well, however the growth might be restored by availing particular chances provided in the market. The marketplace chances for CMP consist of;
• The business might likewise introduce Digital Publishing by using its long term technical experience and a strong customer recognition in the market.
• CMP might think about a development program through the expansion towards foreign markets in order to lower its dependence over Chinese markets by using its huge funds.
Risks
The changing macro patterns in the market and increasing competition in the publishing industry has presented specific hazards to Inciting A Computer Revolution In Health Care Weighing The Merits Of The Health Information Technology Act Case Study Analysis consisting of;( Gurel, 2017).
• Introduction of digital publishing i.e. digital libraries might result in decreasing market share of Inciting A Computer Revolution In Health Care Weighing The Merits Of The Health Information Technology Act Case Study Solution due to the customer shift towards virtual libraries.
• The existence of large number of competitors in the publishing industry increase the hazard for CMP to lose its competitive position in the market, as rivals can gain a strong consumer base by using particular methods like aggressive promo, quality products, and so on
• Entryway of new publishing companies in the market along with presence of high competitors increases the danger of losing the client base.
Financial Analysis.
Due to lack of information, the financial ratios of CMP might not be calculated. It might be analyzed from the Appendix III that the yearly overall incomes of Inciting A Computer Revolution In Health Care Weighing The Merits Of The Health Information Technology Act Case Study Help throughout the duration 2000-2012 are growing at a high development rate, showing that the annual demand of the items of CMP is growing and the company is quite effective in bring in a large number of clients at a possible rate.
Along with it, the 2nd graph which reveals the yearly growth in the Inciting A Computer Revolution In Health Care Weighing The Merits Of The Health Information Technology Act Case Study Analysis total assets, shows that the company is rather effective in adding worth to its assets through its revenues. The growth in possessions reveals that the overall worth of the firm is also increasing with increasing the overall earnings. (Unknown, 2013).
Another monetary analysis of the company utilizing the offered data might be the analysis relating to the circulation of overall revenues of the company. Huge part of the profits of CMP originates from the sales of its released books i.e. 64% as shown in the Case Appendix V. The company might move towards other service segments with a potential growth to attain its future development goal.
PESTEL Analysis
PESTEL analysis could be performed to find out the different external forces impacting the performance of the business and the recent patterns in the external environment of the business. A quick PESTEL analysis of the business is given as follows; (Alanzi, 2018).
Political.
As the publishing sector could have a considerable impact on the frame of mind of individuals about the communist ideology of the government, therefore, the publishing sector is extremely supervised and directed by the Publicity Department of the Communist Party of China. It might be said that the total political forces impacting CMP service are high. The federal government policies regarding the publishing sector are also increasing with the passage of time.
Economical.
Financial forces affecting the publishing sector in basic and the CMP in specific includesthe prices of paper, the income level of customers, the inflation rate, and the total GDP growth of the country. All these forces integrate effect the need for the publishing market.
Social and Demographical.
Social and demographical forces consist of the population development, the consumer's choices towards reading informative materials etc. China has the highest population on the planet with a high population development, revealing the increasing variety of consumers of the Inciting A Computer Revolution In Health Care Weighing The Merits Of The Health Information Technology Act Case Study Help. Nevertheless, the consumer choices are moving towards digital publishing instead of the traditional was of publishing. In this regard, CMP needs to concentrate on digital publishing to fulfill the altering customer choices.
Technological.
Technological forces affecting the CMP consist of the technological advancement in the reading methods and so on. Enhancement of science and technology along with the rise of digital publishing could lower the need for the CMP items, if particular actions would not be taken quickly.
Environmental.
Ecological forces affecting Inciting A Computer Revolution In Health Care Weighing The Merits Of The Health Information Technology Act Case Study Help includes the concerns of ecological communities over the use of paper in publishing books. The paper used in the books while publishing is needed to be non reusable and the ink utilized while publishing needs to not be harmful for the environment.
Legal.
Legal regulations for the publishing sector at whole are high. Publishing Ordinance 1997 requires the publishers to be authorized first by the Federal 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 evaluate the appearance of the publishing market China. A brief analysis of the Porter's 5 Forces is offered as follows;.
Hazard of New Entrants.
Dangers of new entrants in the Chinese Publishing Industry is moderate. The potential development in the industry tends to bring in new entrants to the publishing market. The existence of intense competition and the requirement of big capital tends to demotivate brand-new entrants to enter in the market.
Danger of Replacement.
Threat of Substitution is high for the Chinese Publishing Market. The alternative items for the published documents is the documents provided in the virtual libraries on specific websites. The altering customer choices towards digital learning increase the risk of alternative for the market.
Competitive Competition.
Competitive competition in the publishing market is high. The presence of a great deal of consumers in the Chinese Publishing Market like CIP, PTP and so on tends to produce high competitive rivalry for CMP. In addition to it, new entrants are also entering into the market increasing the competitors for CMP.
Bargaining Power of Supplier.
The significant suppliers of the Inciting A Computer Revolution In Health Care Weighing The Merits Of The Health Information Technology Act Case Study Solution include the providers 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 large number of publishers in the Chinese market and the market saturation, the purchasers requires high quality files at competitive rates.
Competitors Analysis.
CMP operates in an extremely competitive industry with the presence of a great deal of rivals. Nevertheless, the company has a competitive position in the market with the greatest market share in the Chinese publishing market. Major rivals of Inciting A Computer Revolution In Health Care Weighing The Merits Of The Health Information Technology Act Case Study Solution consist of;.
• Chemical Market Press (CIP).
• Posts and telecommunication Press (PTP).
Chemical Market Press (CIP).
CIPis among the close competitors of CMP. Founded in the same duration, CIP releases comparable type of books. For a large period, CIP held the biggest market share, and still ranks third and 2nd in various market sectors, with a significant concentrate on instructional publications. CIP functions as a risk for CMP as it could wean its market share due to its long term competitive background. CIP is focused on digital publishing and might wean the marketplace share of Inciting A Computer Revolution In Health Care Weighing The Merits Of The Health Information Technology Act Case Study Help quickly in the present market scenario.
Posts and telecommunication Press (PTP).
It was also founded in the very same period as Inciting A Computer Revolution In Health Care Weighing The Merits Of 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: Expand towards New Markets
Pros
• Reducing dependence over the Chinese markets.
• Increasing variety of Customers
• Growth opportunities.
• Avoiding the effect of market saturation in the Chinese publishing market.
Cons
• Usage of prospective resources in growth.
• Risk of failure in new markets.
• Time consuming.
Alernative-2: Introduce Digital Publishing
Pros
• Sustaining consumer base.
• Approaching new markets.
• Easy to present utilizing current abilities.
• Low danger of Failure.
• Low requirement for funds.
• Increased item portfolio offers high worth to clients.
Cons
• Competitors in the market by CIP, who has prior concentrate on the digital publishing.
• Shift of focus from the core business sectors to the brand-new one can lead the business to lose need of its items in the market.
Recommendations
With the deep analysis of the external and internal environment of the company in addition to the market analysis and the rival analysis, Alternative 2 is advised to CMP to attain its future advancement. As the choices are shifting towards digital publishing and the business require an immediate service to prevent the declining industry development. Intro of digital publishing could show to be an instant option with low quantity of risk for the company. However, the company might also consider the growth program after the success of its digital publishing program.
Application
In order to present digital publishing in its item portfolio, the company needs to first gathers the information associated with the consumer need, the possible markets, the federal government regulations and the data associated with the rivals presented in the market. After that, the company needs to decide one prospective sector for its initial offering. It must collect research that how it might distinguish its digital publishing from the existing competitors' products. The actions above the business should go for the initial offering. If the initial offering shows a success, the company needs to go for the other markets. In this method the company would be able to execute its digital publishing program.
Conclusion
Although, the growth of the publishing industry is declining since 2008, showing a hazard to the company's long term existence, but the scenario can be managed by thinking about a development strategy in the future. The business might think about introducing digital publishingin its existing market to implement its advancement program at immediate basis and to prevent the risk of failure for entryway in the new markets.
