Nursing Task 2 Case Study Solution and Analysis
Introduction
Nursing Task 2 Case Study Analysis is the biggest publishing company with a greatest market share in the China's book retail market. CMP supplies a number of services consisting of; gathering info, processing information and interaction services. Major service sectors of the business include; books, regulars, consultancy and circulation. The company has a large item portfolio and its significant products consist of books, regulars, online media, exhibitions, research reports and so on. Nursing Task 2 Case Study Solution has ended up being a specialized details service provider and a big extensive Science and Innovation publishing business through the combination of print media, audio-visual media and the network media.
Important Concerns
Although, Nursing Task 2 Case Study Analysis has spent its 60 years journey smoothly, being an effective publishing home, however, the changing macro market trends and forces bring particular obstacles to the publishing market in general and CMP in specific. These aspects consist of;
• Entrance of the new publishing companies in the industry.
• Decreasing growth of the publishing market.
• Market saturation.
• Intro of digital publishing strategies
• Improvement 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 valuable experience, technical resources and the capabilities of the company could be used 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
Nursing Task 2 Case Study Analysis has particular strengths that can be utilized to minimize the risks, get rid of the weakness and avail the opportunities. Strengths of CMP are given as follows;
• The long term experience of Nursing Task 2 Case Study Analysis in the publishing market i.e. 60 years allows the company to offer high quality products at a lower expense 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 danger and provide high worth to its clients.
• Strong monetary position enables the company to consider several development opportunities without any fear of raising fund externally.
Weaknesses
In addition to the strengths, the company has particular weak points which might increase restrictions for the company in executing its advancement program. The weaknesses of Nursing Task 2 Case Study Help are offered as follows;
• Despite of being a science and technology publishing firm, the company still has conventional methods 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 strategies to prevent its reliance over the Chinese markets to attain long term growth.
Opportunities
Although, the development of the publishing industry is decreasing because 2008, affecting Nursing Task 2 Case Study Help too, but the development could be revived by availing particular opportunities provided in the market. The marketplace opportunities 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 growth towards foreign markets in order to decrease its dependence over Chinese markets by utilizing its large financial resources.
Dangers
The altering macro trends in the market and increasing competition in the publishing market has presented specific hazards to Nursing Task 2 Case Study Help consisting of;( Gurel, 2017).
• Intro of digital publishing i.e. virtual libraries could cause declining market share of Nursing Task 2 Case Study Help due to the customer shift towards virtual libraries.
• The existence of large number of rivals in the publishing market increase the danger for CMP to lose its competitive position in the market, as competitors can gain a strong customer base by utilizing specific strategies like aggressive promo, quality items, etc.
• Entryway of new publishing firms in the market along with existence of high competition increases the threat of losing the client base.
Monetary Analysis.
Due to lack of data, the monetary ratios of CMP might not be determined. It might be examined from the Appendix III that the yearly total earnings of Nursing Task 2 Case Study Analysis during the period 2000-2012 are growing at a high development rate, showing that the yearly demand of the products of CMP is growing and the business is rather efficient in drawing in a big number of customers at a possible rate.
In addition to it, the second graph which shows the yearly development in the Nursing Task 2 Case Study Analysis total properties, reveals that the business is rather efficient in including worth to its assets through its earnings. The growth in properties shows that the total worth of the firm is also increasing with increasing the total incomes. (Unidentified, 2013).
Another financial analysis of the company utilizing the provided data could be the analysis relating to the circulation of total profits of the company. Huge part of the revenues of CMP comes from the sales of its released books i.e. 64% as displayed in the Case Appendix V. The company might move towards other business segments with a possible development to achieve its future development objective.
PESTEL Analysis
PESTEL analysis could be performed to find out the different external forces affecting the efficiency of the business and the current patterns in the external environment of the company. A short PESTEL analysis of the business is offered as follows; (Alanzi, 2018).
Political.
As the publishing sector could have a substantial impact on the state of mind of individuals about the communist ideology of the federal government, for that reason, the publishing sector is extremely supervised and directed by the Promotion Department of the Communist Celebration of China. It might be stated that the general political forces affecting CMP company are high. The government policies relating to the publishing sector are also increasing with the passage of time.
Economical.
Economic forces affecting the publishing sector in basic and the Nursing Task 2 Case Study Analysis 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 combine impact the need for the publishing market. In addition to it, the financial policies connected to the import of books affect the overall business at CPM. Nevertheless, China's financial conditions are rather beneficial for CMP with high GDP development 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 needs to focus on digital publishing to meet the changing customer preferences.
Technological.
Technological forces affecting the CMP consist of the technological development in the reading methods and so on. Improvement of science and innovation together with the increase of digital publishing might decrease the need for the CMP items, if particular actions would not be taken soon.
Environmental.
Ecological forces impacting Nursing Task 2 Case Study Help consists of the issues of environmental neighborhoods over the usage of paper in publishing books. The paper used in the books while publishing is needed to be disposable and the ink used while publishing should not be hazardous for the environment.
Legal.
Legal policies for the publishing sector at whole are high. Publishing Ordinance 1997 needs the publishers to be approved first by the Government to be gone into in the publishing market.
Industry Analysis (Porter's 5 Forces Design).
Porter's Five Forces Model might be used to evaluate the appearance of the publishing market China. A brief analysis of the Porter's Five Forces is provided as follows;.
Danger of New Entrants.
Risks of brand-new entrants in the Chinese Publishing Market is moderate. The potential growth in the market tends to attract brand-new entrants to the publishing market. Nevertheless, the existence of extreme competition and the requirement of huge capital tends to demotivate new entrants to go into in the marketplace.
Threat of Substitution.
Hazard of Alternative is high for the Chinese Publishing Market. The substitute items for the published files is the documents provided in the virtual libraries on specific websites. The altering consumer preferences towards digital knowing increase the hazard of alternative for the industry.
Competitive Competition.
Competitive competition in the publishing industry is high. The presence of a great deal of consumers in the Chinese Publishing Industry like CIP, PTP etc. tends to produce high competitive competition for CMP. In addition to it, new entrants are likewise participating in the marketplace increasing the competition for CMP.
Bargaining Power of Supplier.
The significant suppliers of the Nursing Task 2 Case Study Solution include the providers of the paper for publishing files. As CMP is the largest publisher in the Chinese Publishing Market, therefore the overall bargaining power of provider for CMP is low.
Bargaining Power of Buyer.
Negotiating 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 marketplace saturation, the buyers needs high quality files at competitive prices.
Rivals Analysis.
CMP operates in an extremely competitive industry with the presence of large number of rivals. Nevertheless, the business has a competitive position in the market with the highest market share in the Chinese publishing market. Major rivals of Nursing Task 2 Case Study Solution include;.
• Chemical Market Press (CIP).
• Posts and telecommunication Press (PTP).
Chemical Industry Press (CIP).
CIPis among the close competitors of CMP. Founded in the same period, CIP publishes similar type of books. For a big time period, CIP held the largest market share, and still ranks 3rd and second in various market sectors, with a significant focus on instructional publications. CIP serves 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 could wean the marketplace share of Nursing Task 2 Case Study Analysis quickly in the present market circumstance.
Posts and telecommunication Press (PTP).
Another close competitor of CMP is PTP. It was likewise founded in the exact same period as CMP and CIP. It ranks 6th in the state-owned publishers in regards to business scale. It is also among the popular players in the publishing market with an annual overall incomes of RMB 550 million in 2010.
Alternatives
Alternative-1: Broaden towards New Markets
Pros
• Reducing dependence over the Chinese markets.
• Increasing variety of Customers
• Growth chances.
• Preventing the effect of market saturation in the Chinese publishing industry.
Cons
• Use of prospective resources in growth.
• Risk of failure in brand-new markets.
• Time consuming.
Alernative-2: Introduce Digital Publishing
Pros
• Sustaining consumer base.
• Approaching brand-new markets.
• Easy to introduce using present capabilities.
• Low threat of Failure.
• Low requirement for funds.
• Increased item portfolio offers high value to consumers.
Cons
• Competition in the market by CIP, who has prior focus on the digital publishing.
• Shift of focus from the core service sectors to the brand-new one can lead the company to lose demand of its products in the market.
Suggestions
As the choices are moving towards digital publishing and the business require an instant service to prevent the decreasing industry growth. The business might likewise consider the expansion program after the success of its digital publishing program.
Application
In order to introduce digital publishing in its product portfolio, the company should first gathers the data related to the consumer need, the prospective markets, the federal government guidelines and the information related to the competitors presented in the market. If the initial offering proves a success, the company must go for the other markets. In this way the business would be able to execute its digital publishing program.
Conclusion
The growth of the publishing market is declining because 2008, showing a danger to the company's long term existence, however the scenario can be controlled by considering a development plan in the future. The company might think about introducing digital publishingin its existing market to implement its advancement program at immediate basis and to avoid the threat of failure for entryway in the new markets.
