Nursing Week 3 Discussion 1 Case Study Solution and Analysis
Introduction
Nursing Week 3 Discussion 1 Case Study Solution is the largest publishing company with a greatest market share in the China's book retail market. CMP offers a number of services including; collecting information, processing details and communication services. Significant business segments of the company consist of; books, regulars, consultancy and circulation. The company has a huge item portfolio and its significant products consist of books, periodicals, online media, exhibits, research reports and so on. Nursing Week 3 Discussion 1 Case Study Analysis has actually ended up being a specialized details company and a big thorough Science and Technology publishing company through the combination of print media, audio-visual media and the network media.
Important Issues
Although, Nursing Week 3 Discussion 1 Case Study Help has invested its 60 years journey smoothly, being an effective publishing home, nevertheless, the altering macro market trends and forces bring specific challenges to the publishing industry in basic and CMP in particular. These elements include;
• Entrance of the brand-new publishing companies in the market.
• Decreasing development of the publishing market.
• Market saturation.
• Introduction of digital publishing techniques
• Enhancement of science and technology.
The transformation of the macro markets have raised several 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 business 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
Nursing Week 3 Discussion 1 Case Study Help has particular strengths that can be made use of to lower the hazards, get rid of the weakness and obtain the opportunities. Strengths of CMP are offered as follows;
• The long term experience of Nursing Week 3 Discussion 1 Case Study Solution in the publishing market i.e. 60 years permits the business to offer high quality items at a lower cost utilizing its previous experiences.
• The technical resources and capabilities created by its successful journey provide a competitive benefit to CMP.
• Huge product portfolioof CMP helps it to diversify its risk and provide high value to its customers.
• Strong monetary position permits the company to think about several advancement opportunities with no worry of raising fund externally.
Weaknesses
Together with the strengths, the business has particular weak points which could increase restraints for the business in implementing its advancement program. The weak points of Nursing Week 3 Discussion 1 Case Study Help are provided as follows;
• Despite of being a science and innovation publishing firm, the business still has standard methods ofpublishing which are not suitable with the growing technological shift.
• CMP extremely relies over the Chinese markets for its growth. It needs to propose specific growth plans to avoid its dependence over the Chinese markets to achieve long term growth.
Opportunities
Although, the growth of the publishing market is decreasing given that 2008, affecting Nursing Week 3 Discussion 1 Case Study Analysis also, but the growth might be revived by availing certain opportunities provided in the market. The market chances for CMP include;
• The business might also present Digital Publishing by utilizing its long term technical experience and a strong customer acknowledgment in the market.
• CMP might consider a development program through the expansion towards foreign markets in order to decrease its reliance over Chinese markets by utilizing its large financial resources.
Threats
The changing macro patterns in the market and increasing competition in the publishing market has actually positioned certain dangers to Nursing Week 3 Discussion 1 Case Study Help including;( Gurel, 2017).
• Intro of digital publishing i.e. digital libraries could cause decreasing market share of Nursing Week 3 Discussion 1 Case Study Solution due to the customer shift towards virtual libraries.
• The presence of a great deal of competitors in the publishing market increase the threat for CMP to lose its competitive position in the market, as competitors can get a strong consumer base by utilizing certain techniques like aggressive promotion, quality products, etc.
• Entryway of new publishing firms in the market in addition to existence of high competition increases the hazard of losing the client base.
Financial Analysis.
The business has a quite competitive financial efficiency. Due to absence of data, the financial ratios of CMP might not be determined. However, the overall financial performance of the company might be examined by using the graphs given up the case Appendices. It could be evaluated from the Appendix III that the yearly overall incomes of CMP during the duration 2000-2012 are growing at a high development rate, revealing that the annual need of the items of Nursing Week 3 Discussion 1 Case Study Solution is growing and the company is rather effective in attracting a large number of consumers at a possible rate.
Together with it, the 2nd chart which reveals the yearly development in the Nursing Week 3 Discussion 1 Case Study Analysis overall properties, reveals that the company is quite efficient in adding value to its assets through its profits. The growth in possessions shows that the total value of the company is likewise increasing with increasing the total earnings. (Unidentified, 2013).
Another financial analysis of the company utilizing the offered information could be the analysis regarding the circulation of total earnings of the company. Major part of the incomes of CMP comes from the sales of its published books i.e. 64% as displayed in the Case Appendix V. The business could move towards other company segments with a possible development to accomplish its future development objective.
PESTEL Analysis
PESTEL analysis might be carried out to find out the various external forces impacting the efficiency of the business and the recent trends 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 might have a substantial effect on the frame of mind of individuals about the communist ideology of the government, therefore, the publishing sector is extremely supervised and guided by the Promotion Department of the Communist Party of China. For that reason, it might be stated that the total political forces impacting Nursing Week 3 Discussion 1 Case Study Solution business are high. The government policies concerning the publishing sector are also increasing with the passage of time.
Economical.
Economic forces impacting the publishing sector in basic and the Nursing Week 3 Discussion 1 Case Study Analysis in particular includesthe rates of paper, the earnings level of consumers, the inflation rate, and the general GDP development of the country. All these forces combine impact the need for the publishing market. Together with it, the economic policies connected to the import of books affect the overall company at CPM. Nevertheless, China's economic conditions are quite beneficial for CMP with high GDP development and customer earnings level.
Social and Demographical.
Social and demographical forces consist of the population growth, the customer's preferences towards reading helpful materials and so on. China has the greatest population worldwide with a high population growth, showing the increasing number of customers of the Nursing Week 3 Discussion 1 Case Study Analysis. However, the consumer preferences are moving towards digital publishing instead of the standard was of publishing. In this regard, CMP should focus on digital publishing to meet the altering consumer preferences.
Technological.
Technological forces affecting the CMP include the technological advancement in the reading strategies and so on. Improvement of science and technology in addition to the rise of digital publishing could decrease the demand for the CMP products, if certain actions would not be taken soon.
Environmental.
Ecological forces affecting Nursing Week 3 Discussion 1 Case Study Help includes the concerns of environmental 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 must not be harmful for the environment.
Legal.
Legal policies for the publishing sector at whole are high. Publishing Ordinance 1997 requires the publishers to be approved initially by the Government to be gone into in the publishing market.
Market Analysis (Porter's Five Forces Design).
Porter's 5 Forces Design could be utilized to examine the attractiveness of the publishing market China. A brief analysis of the Porter's 5 Forces is given as follows;.
Risk of New Entrants.
Threats 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 market. The presence of extreme competitors and the requirement of substantial capital tends to demotivate brand-new entrants to go into in the market.
Threat of Alternative.
Hazard of Substitution is high for the Chinese Publishing Industry. The alternative products for the released files is the documents presented in the virtual libraries on specific sites. The altering consumer choices towards digital learning increase the risk of alternative for the industry.
Competitive Competition.
Competitive rivalry in the publishing industry is high. The existence of large number of consumers in the Chinese Publishing Industry like CIP, PTP etc. tends to produce high competitive rivalry for CMP. Together with it, new entrants are likewise participating in the market increasing the competitors for CMP.
Bargaining Power of Supplier.
The major suppliers of the Nursing Week 3 Discussion 1 Case Study Solution include the suppliers of the paper for publishing files. 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 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 market saturation, the purchasers needs high quality documents at competitive costs.
Competitors Analysis.
CMP operates in an extremely competitive industry with the presence of large number of rivals. Nevertheless, the company has a competitive position in the market with the highest market share in the Chinese publishing market. Significant rivals of Nursing Week 3 Discussion 1 Case Study Help include;.
• Chemical Industry Press (CIP).
• Posts and telecommunication Press (PTP).
Chemical Market 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 rival of CMP is PTP. It was also founded in the same duration as CMP and CIP. It ranks sixth in the state-owned publishers in terms of company scale. It is also one of the popular gamers in the publishing market with a yearly total revenues of RMB 550 million in 2010.
Alternatives
Alternative-1: Broaden towards New Markets
Pros
• Lowering reliance over the Chinese markets.
• Increasing variety of Consumers
• Development opportunities.
• Preventing the effect of market saturation in the Chinese publishing market.
Cons
• Usage of possible resources in expansion.
• Risk of failure in new markets.
• Time consuming.
Alernative-2: Introduce Digital Publishing
Pros
• Sustaining customer base.
• Approaching new markets.
• Easy to introduce utilizing current capabilities.
• Low threat of Failure.
• Low requirement for funds.
• Increased product portfolio supplies high value to customers.
Cons
• Competition in the market by CIP, who has prior concentrate on the digital publishing.
• Shift of focus from the core company segments 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 together with the industry analysis and the rival analysis, Alternative 2 is recommended to CMP to accomplish its future advancement. As the preferences are shifting towards digital publishing and the business require an instant service to prevent the decreasing market development. Introduction of digital publishing might show to be an instant option with low quantity of danger for the business. However, the company might also consider the expansion program after the success of its digital publishing program.
Implementation
In order to introduce digital publishing in its item portfolio, the company must initially gathers the information related to the consumer demand, the possible markets, the government guidelines and the data associated with the rivals presented in the market. After that, the company must decide one possible sector for its initial offering. It should gather research that how it could distinguish its digital publishing from the existing competitors' items. The actions above the company must go for the preliminary offering. If the preliminary offering shows a success, the business should go for the other markets. In this method the business would be able to execute its digital publishing program.
Conclusion
Although, the growth of the publishing industry is decreasing because 2008, showing a hazard to the business's long term presence, but the situation can be controlled by thinking about an advancement plan in the future. The company could consider presenting digital publishingin its existing market to execute its advancement program at immediate basis and to avoid the danger of failure for entryway in the new markets.
