My Attitude Case Study Solution and Analysis
Intro
My Attitude Case Study Solution is the largest publishing company with a highest market share in the China's book retail market. CMP has actually ended up being a specialized info company and a big extensive Science and Technology publishing business through the integration of print media, audio-visual media and the network media.
Important Problems
CMP has spent its 60 years journey efficiently, being a successful publishing house, nevertheless, the changing macro market trends and forces bring specific obstacles to the publishing market in general and My Attitude Case Study Solution in particular. These factors include;
• Entrance of the brand-new publishing firms in the industry.
• Decreasing development of the publishing market.
• Market saturation.
• Intro of digital publishing strategies
• Enhancement of science and innovation.
The improvement of the macro markets have raised a number of 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 abilities of the company could be utilized to strive for the future advancement unceasingly? How could the business sustain its long term competitive position in future?
Situational Analysis
Internal Analysis
SWOT Analysis
Strengths
My Attitude Case Study Analysis has certain strengths that can be made use of to minimize the risks, get rid of the weak point and get the opportunities. Strengths of CMP are offered as follows;
• The long term experience of My Attitude Case Study Help in the publishing market i.e. 60 years allows the business to provide high quality products at a lower cost utilizing its previous experiences.
• The technical resources and capabilities produced by its effective journey offer a competitive advantage to CMP.
• Large item portfolioof CMP assists it to diversify its risk and supply high value to its customers.
• Strong monetary position enables the business to consider a number of development opportunities with no fear of raising fund externally.
Weak points
Together with the strengths, the business has specific weaknesses which might increase restrictions for the business in implementing its development program. The weaknesses of My Attitude Case Study Analysis are offered as follows;
• Despite of being a science and technology publishing company, 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 must propose particular expansion plans to prevent its reliance over the Chinese markets to attain long term development.
Opportunities
Although, the development of the publishing market is decreasing considering that 2008, impacting My Attitude Case Study Solution as well, however the growth could be revived by availing certain chances provided in the market. The marketplace opportunities for CMP include;
• The company might also present Digital Publishing by using its long term technical experience and a strong customer acknowledgment in the market.
• CMP could think about a development program through the growth towards foreign markets in order to minimize its reliance over Chinese markets by using its large funds.
Threats
The changing macro trends in the market and increasing competitors in the publishing industry has actually presented particular threats to My Attitude Case Study Solution consisting of;( Gurel, 2017).
• Intro of digital publishing i.e. virtual libraries could cause declining market share of My Attitude Case Study Analysis due to the customer shift towards digital libraries.
• The existence of a great deal of competitors in the publishing market increase the risk for CMP to lose its competitive position in the market, as competitors can gain a strong customer base by using certain methods like aggressive promotion, quality items, etc.
• Entryway of new publishing companies in the industry together with existence of high competition increases the hazard of losing the customer base.
Monetary Analysis.
Due to absence of information, the financial ratios of CMP might not be computed. It might be evaluated from the Appendix III that the annual total profits of My Attitude Case Study Analysis during the period 2000-2012 are growing at a high development rate, showing that the yearly demand of the items of CMP is growing and the company is quite efficient in drawing in a big number of consumers at a prospective rate.
Along with it, the 2nd graph which shows the annual growth in the My Attitude Case Study Help overall assets, reveals that the business is quite effective in adding worth to its properties through its earnings. The growth in properties reveals that the total worth of the firm is likewise increasing with increasing the total earnings. (Unidentified, 2013).
Another monetary analysis of the company utilizing the provided data might be the analysis regarding the circulation of overall incomes of the company. Major part of the earnings of CMP comes from the sales of its released books i.e. 64% as shown in the Case Appendix V. The company might move towards other organisation sectors with a prospective development to achieve its future development objective.
PESTEL Analysis
PESTEL analysis could be performed to discover the numerous 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 offered as follows; (Alanzi, 2018).
Political.
As the publishing sector might have a substantial influence on the frame of mind of the people about the communist ideology of the federal government, therefore, the publishing sector is extremely monitored and guided by the Publicity Department of the Communist Celebration of China. For that reason, it might be said that the general political forces affecting My Attitude Case Study Help business are high. The federal government policies relating to the publishing sector are also increasing with the passage of time.
Affordable.
Financial forces affecting the publishing sector in general and the CMP in particular includesthe rates of paper, the earnings level of consumers, the inflation rate, and the overall GDP growth of the country. All these forces combine impact the need for the publishing market.
Social and Demographical.
The consumer preferences are moving towards digital publishing rather than the conventional was of publishing. In this regard, CMP ought to focus on digital publishing to satisfy the altering customer preferences.
Technological.
Technological forces impacting the CMP consist of the technological improvement in the reading techniques and so on. Improvement of science and technology along with the rise of digital publishing might decrease the demand for the CMP products, if certain actions would not be taken quickly.
Environmental.
Ecological forces affecting My Attitude Case Study Solution includes the issues of environmental neighborhoods over the use of paper in publishing books. The paper used in the books while publishing is required to be non reusable and the ink utilized while publishing ought to not be damaging for the environment.
Legal.
Legal policies for the publishing sector at whole are high. Publishing Ordinance 1997 requires the publishers to be authorized first by the Government to be gone into in the publishing market.
Industry Analysis (Porter's Five Forces Model).
Porter's Five Forces Design could be used to evaluate the beauty of the publishing industry China. A quick analysis of the Porter's Five Forces is offered as follows;.
Danger of New Entrants.
Dangers of new entrants in the Chinese Publishing Market is moderate. The possible development in the industry tends to attract new entrants to the publishing market. The presence of intense competitors and the requirement of huge capital tends to demotivate brand-new entrants to go into in the market.
Threat of Alternative.
Hazard of Replacement is high for the Chinese Publishing Market. The alternative items for the published files is the documents provided in the virtual libraries on particular websites. The changing consumer choices towards digital knowing increase the risk of replacement for the market.
Competitive Competition.
Competitive rivalry in the publishing industry is high. The presence of large number of consumers in the Chinese Publishing Industry like CIP, PTP etc. tends to produce high competitive competition for CMP. In addition to it, brand-new entrants are likewise participating in the marketplace increasing the competition for CMP.
Bargaining Power of Supplier.
The major suppliers of the My Attitude Case Study Help include the providers of the paper for publishing documents. As CMP is the largest publisher in the Chinese Publishing Market, therefore the total bargaining power of provider for CMP is low.
Bargaining Power of Purchaser.
Negotiating power of buyer 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 purchasers requires high quality documents at competitive prices.
Rivals Analysis.
CMP runs in an extremely competitive market 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. Significant rivals of My Attitude Case Study Solution consist of;.
• 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 might wean the market share of CMP quickly in the existing market circumstance.
Posts and telecommunication Press (PTP).
Another close competitor of CMP is PTP. It was likewise founded in the exact same duration as CMP and CIP. It ranks 6th in the state-owned publishers in terms of organisation scale. It is also one of the prominent gamers in the publishing industry with an annual overall earnings of RMB 550 million in 2010.
Alternatives
Alternative-1: Expand towards New Markets
Pros
• Minimizing dependence over the Chinese markets.
• Increasing variety of Customers
• Growth chances.
• Avoiding the effect of market saturation in the Chinese publishing market.
Cons
• Usage of possible resources in expansion.
• Risk of failure in brand-new markets.
• Time consuming.
Alernative-2: Present Digital Publishing
Pros
• Sustaining customer base.
• Approaching new markets.
• Easy to present utilizing existing capabilities.
• Low threat of Failure.
• Low requirement for funds.
• Increased item portfolio provides high value to customers.
Cons
• Competition in the market by CIP, who has prior focus on the digital publishing.
• Shift of focus from the core business sections to the brand-new one can lead the business to lose demand of its items in the market.
Suggestions
As the choices are shifting towards digital publishing and the company require an instant service to prevent the declining industry growth. The company could likewise think about the growth program after the success of its digital publishing program.
Implementation
In order to introduce digital publishing in its item portfolio, the business should initially collects the information related to the customer demand, the prospective markets, the federal government policies and the data related to the rivals presented in the market. If the initial offering shows a success, the business should go for the other markets. In this method the company would be able to implement its digital publishing program.
Conclusion
Although, the development of the publishing industry is decreasing because 2008, revealing a hazard to the business's long term existence, however the scenario can be managed by thinking about an advancement strategy in the future. The company could think about presenting digital publishingin its existing market to implement its development program at immediate basis and to prevent the threat of failure for entryway in the new markets.
