Odyssey Health Care Case Study Solution and Analysis
Introduction
Odyssey Health Care Case Study Analysis is the largest publishing business with a highest market share in the China's book retail market. CMP offers a variety of services consisting of; collecting info, processing information and communication services. Major service sections of the company include; books, regulars, consultancy and distribution. The business has a huge item portfolio and its significant products consist of books, regulars, online media, exhibits, research reports and so on. Odyssey Health Care Case Study Help has become a specialized info supplier and a large thorough Science and Technology publishing business through the combination of print media, audio-visual media and the network media.
Critical Problems
Although, Odyssey Health Care Case Study Help has invested its 60 years journey efficiently, being a successful publishing home, nevertheless, the changing macro market trends and forces bring particular difficulties to the publishing market in general and CMP in specific. These factors consist of;
• Entryway of the brand-new publishing firms in the industry.
• Decreasing development of the publishing market.
• Market saturation.
• Introduction of digital publishing strategies
• Enhancement of science and innovation.
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 scenario? Do the long important experience, technical resources and the abilities of the company could be used to strive for the future development unceasingly? How could the business sustain its long term competitive position in future?
Situational Analysis
Internal Analysis
SWOT Analysis
Strengths
Odyssey Health Care Case Study Help has particular strengths that can be utilized to lower the threats, conquer the weakness and avail the opportunities. Strengths of CMP are provided as follows;
• The long term experience of Odyssey Health Care Case Study Help in the publishing industry i.e. 60 years enables the business to provide high quality products at a lower expense using its prior experiences.
• The technical resources and abilities generated by its effective journey supply a competitive benefit to CMP.
• Huge item portfolioof CMP assists it to diversify its danger and supply high value to its customers.
• Strong financial position permits the company to consider numerous development chances with no worry of raising fund externally.
Weaknesses
Along with the strengths, the company has particular weaknesses which might increase restrictions for the company in executing its advancement program. The weaknesses of Odyssey Health Care Case Study Analysis are provided as follows;
• Despite of being a science and innovation 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 should propose specific growth strategies to avoid its reliance over the Chinese markets to accomplish long term development.
Opportunities
The development of the publishing market is decreasing given that 2008, impacting Odyssey Health Care Case Study Analysis as well, but the development might be revived by availing specific opportunities presented in the market. The marketplace opportunities for CMP include;
• The company might also introduce Digital Publishing by using its long term technical experience and a strong client recognition in the market.
• CMP could consider an advancement program through the growth towards foreign markets in order to reduce its dependence over Chinese markets by utilizing its vast funds.
Dangers
The changing macro trends in the market and increasing competition in the publishing industry has actually postured particular threats to Odyssey Health Care Case Study Help including;( Gurel, 2017).
• Introduction of digital publishing i.e. virtual libraries might result in decreasing market share of Odyssey Health Care Case Study Analysis due to the consumer shift towards digital libraries.
• The presence of large number of rivals in the publishing industry increase the risk for CMP to lose its competitive position in the market, as rivals can get a strong consumer base by utilizing particular strategies like aggressive promo, quality items, etc.
• Entryway of brand-new publishing firms in the industry together with presence of high competition increases the risk of losing the consumer base.
Financial Analysis.
Due to absence of data, the monetary ratios of CMP could not be calculated. It might be evaluated from the Appendix III that the annual total incomes of Odyssey Health Care Case Study Help during the period 2000-2012 are growing at a high growth rate, showing that the annual demand of the items of CMP is growing and the company is quite effective in bring in a big number of customers at a possible cost.
Along with it, the second chart which reveals the yearly growth in the Odyssey Health Care Case Study Help overall assets, reveals that the company is quite efficient in adding worth to its possessions through its revenues. The growth in possessions shows that the overall worth of the company is also increasing with increasing the overall incomes. (Unidentified, 2013).
Another monetary analysis of the company using the given data could be the analysis relating to the circulation of overall earnings of the business. Major part of the earnings 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 organisation sectors with a possible growth to accomplish its future advancement objective.
PESTEL Analysis
PESTEL analysis could be carried out to find out the various external forces impacting the performance of the company and the current patterns in the external environment of the company. A quick PESTEL analysis of the company is provided as follows; (Alanzi, 2018).
Political.
As the publishing sector might have a significant impact on the state of mind of individuals about the communist ideology of the federal government, for that reason, the publishing sector is extremely monitored and directed by the Publicity Department of the Communist Party of China. It might be said that the general political forces affecting CMP business are high. The federal government policies regarding the publishing sector are likewise increasing with the passage of time.
Economical.
Economic forces affecting the publishing sector in basic and the CMP in particular includesthe rates of paper, the earnings level of consumers, the inflation rate, and the total GDP development of the country. All these forces combine effect the need for the publishing market.
Social and Demographical.
The consumer choices are moving towards digital publishing rather than the conventional was of publishing. In this regard, CMP should focus on digital publishing to fulfill the changing customer choices.
Technological.
Technological forces impacting the CMP consist of the technological advancement in the reading strategies etc. Improvement of science and technology together with the rise of digital publishing could reduce the need for the CMP products, if certain actions would not be taken quickly.
Environmental.
Environmental forces impacting Odyssey Health Care Case Study Help includes the issues of environmental neighborhoods over the usage 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 should not be hazardous for the environment.
Legal.
Legal regulations for the publishing sector at whole are high. Publishing Regulation 1997 needs the publishers to be approved first by the Federal government to be gone into in the publishing market.
Market Analysis (Porter's Five Forces Model).
Porter's 5 Forces Model could be utilized to evaluate the attractiveness of the publishing market China. A quick analysis of the Porter's 5 Forces is given as follows;.
Risk of New Entrants.
Threats of new entrants in the Chinese Publishing Industry is moderate. The possible growth in the industry tends to bring in brand-new entrants to the publishing market. The existence of extreme competitors and the requirement of big capital tends to demotivate brand-new entrants to go into in the market.
Hazard of Replacement.
Hazard of Substitution is high for the Chinese Publishing Market. The replacement products for the released documents is the files presented in the virtual libraries on specific websites. The altering customer preferences towards digital learning increase the danger of replacement for the industry.
Competitive Rivalry.
Competitive competition in the publishing industry is high. The existence of a great deal of customers in the Chinese Publishing Industry like CIP, PTP and so on tends to produce high competitive competition for CMP. Together with it, brand-new entrants are likewise entering into the marketplace increasing the competitors for CMP.
Bargaining Power of Provider.
The major providers of the Odyssey Health Care Case Study Help include the providers of the paper for releasing documents. As CMP is the largest publisher in the Chinese Publishing Market, therefore the general bargaining power of supplier for CMP is low.
Bargaining Power of Buyer.
Bargaining power of buyer in the publishing industry is high. Due to the presence of a large number of publishers in the Chinese market and the market saturation, the buyers requires high quality documents at competitive prices.
Rivals Analysis.
CMP runs in an extremely competitive industry with the presence of a great deal of rivals. The business has a competitive position in the market with the highest market share in the Chinese publishing market. Significant competitors of Odyssey Health Care Case Study Analysis include;.
• Chemical Market Press (CIP).
• Posts and telecommunication Press (PTP).
Chemical Market Press (CIP).
CIPis one of the close competitors of CMP. Founded in the same period, CIP releases similar type of books. For a large time period, CIP held the biggest market share, and still ranks third and 2nd in various market segments, with a major concentrate on educational publications. CIP serves as a risk for CMP as it could wean its market share due to its long term competitive background. CIP is concentrated on digital publishing and could wean the market share of Odyssey Health Care Case Study Solution easily in the current market situation.
Posts and telecommunication Press (PTP).
Another close rival of CMP is PTP. It was likewise founded in the very same duration as CMP and CIP. It ranks 6th in the state-owned publishers in regards to organisation scale. It is likewise among the popular gamers in the publishing market with a yearly total incomes of RMB 550 million in 2010.
Alternatives
Alternative-1: Broaden towards New Markets
Pros
• Minimizing dependence over the Chinese markets.
• Increasing variety of Customers
• Development opportunities.
• Avoiding the impact of market saturation in the Chinese publishing industry.
Cons
• Usage of possible resources in expansion.
• Risk of failure in new markets.
• Time consuming.
Alernative-2: Introduce Digital Publishing
Pros
• Sustaining consumer base.
• Approaching new markets.
• Easy to introduce utilizing existing capabilities.
• Low threat of Failure.
• Low requirement for funds.
• Increased item portfolio offers high value to consumers.
Cons
• Competitors in the market by CIP, who has prior focus on the digital publishing.
• Shift of focus from the core service sectors to the new one can lead the company to lose demand of its products in the market.
Suggestions
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 moving towards digital publishing and the company need an immediate option to avoid the declining industry growth. Therefore, introduction of digital publishing might prove to be an instant service with low amount of danger for the company. Nevertheless, the company might also think about the growth program after the success of its digital publishing program.
Application
In order to introduce digital publishing in its product portfolio, the company needs to initially collects the information related to the consumer need, the prospective markets, the federal government policies and the data related to the competitors provided in the market. After that, the business ought to choose one possible section for its preliminary offering. It should collect research study that how it might differentiate its digital publishing from the existing rivals' items. After all the actions above the business must go for the preliminary offering. If the preliminary offering shows a success, the business needs to 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 considering that 2008, showing a hazard to the business's long term presence, but the circumstance can be controlled by thinking about a development plan in the future. The business could think about presenting digital publishingin its existing market to implement its advancement program at immediate basis and to avoid the threat of failure for entrance in the new markets.
