Social Media And Related Technology Drivers Of Change In Managing The Contemporary Sales Force 2 Case Study Solution and Analysis
Introduction
Social Media And Related Technology Drivers Of Change In Managing The Contemporary Sales Force 2 Case Study Analysis is the largest publishing business with a greatest market share in the China's book retail market. CMP supplies a number of services consisting of; gathering information, processing info and communication services. Major company sectors of the company include; books, regulars, consultancy and distribution. The business has a vast item portfolio and its major items consist of books, regulars, online media, exhibits, research reports and so on. Social Media And Related Technology Drivers Of Change In Managing The Contemporary Sales Force 2 Case Study Solution has become a specialized information company and a large comprehensive Science and Innovation publishing company through the integration of print media, audio-visual media and the network media.
Important Issues
Although, Social Media And Related Technology Drivers Of Change In Managing The Contemporary Sales Force 2 Case Study Help has actually spent its 60 years journey smoothly, being a successful publishing home, however, the altering macro market trends and forces bring specific obstacles to the publishing industry in general and CMP in specific. These elements consist of;
• Entrance of the new publishing companies in the industry.
• Decreasing development of the publishing market.
• Market saturation.
• Intro of digital publishing methods
• Improvement of science and technology.
The change of the macro markets have raised several questions to the management at CPM that what could be the future of CMP in this situation? Do the long valuable experience, technical resources and the capabilities of the business 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
Social Media And Related Technology Drivers Of Change In Managing The Contemporary Sales Force 2 Case Study Analysis has particular strengths that can be used to lower the risks, overcome the weakness and obtain the chances. Strengths of CMP are offered as follows;
• The long term experience of Social Media And Related Technology Drivers Of Change In Managing The Contemporary Sales Force 2 Case Study Solution in the publishing industry i.e. 60 years enables the business to supply high quality products at a lower expense using its prior experiences.
• The technical resources and capabilities created by its successful journey provide a competitive benefit 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 think about several development chances with no fear of raising fund externally.
Weaknesses
Along with the strengths, the business has certain weak points which might increase restrictions for the company in implementing its advancement program. The weaknesses of Social Media And Related Technology Drivers Of Change In Managing The Contemporary Sales Force 2 Case Study Analysis are given as follows;
• Despite of being a science and innovation publishing firm, the business still has traditional methods ofpublishing which are not compatible with the growing technological shift.
• CMP highly relies over the Chinese markets for its development. It needs to propose particular growth plans to avoid its dependence over the Chinese markets to accomplish long term development.
Opportunities
Although, the growth of the publishing market is decreasing since 2008, impacting Social Media And Related Technology Drivers Of Change In Managing The Contemporary Sales Force 2 Case Study Analysis as well, but the growth might be revived by availing particular chances presented in the market. The market opportunities for CMP include;
• The company could also introduce Digital Publishing by utilizing its long term technical experience and a strong consumer acknowledgment in the market.
• CMP could consider an advancement program through the growth towards foreign markets in order to decrease its reliance over Chinese markets by using its large funds.
Dangers
The changing macro patterns in the market and increasing competitors in the publishing market has actually positioned particular risks to Social Media And Related Technology Drivers Of Change In Managing The Contemporary Sales Force 2 Case Study Analysis including;( Gurel, 2017).
• Introduction of digital publishing i.e. virtual libraries could result in declining market share of Social Media And Related Technology Drivers Of Change In Managing The Contemporary Sales Force 2 Case Study Analysis due to the customer shift towards virtual libraries.
• The existence 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 customer base by using specific strategies like aggressive promotion, quality items, etc.
• Entrance of brand-new publishing firms in the market together with presence of high competition increases the threat of losing the customer base.
Monetary Analysis.
Due to absence of data, the financial ratios of CMP might not be determined. It could be evaluated from the Appendix III that the annual total profits of Social Media And Related Technology Drivers Of Change In Managing The Contemporary Sales Force 2 Case Study Analysis throughout the duration 2000-2012 are growing at a high growth rate, revealing that the yearly demand of the products of CMP is growing and the company is rather effective in drawing in a big number of clients at a potential rate.
In addition to it, the 2nd chart which shows the yearly development in the Social Media And Related Technology Drivers Of Change In Managing The Contemporary Sales Force 2 Case Study Analysis total possessions, reveals that the business is quite effective in including worth to its possessions through its incomes. The growth in assets shows that the total value of the company is also increasing with increasing the overall profits. (Unidentified, 2013).
Another monetary analysis of the business utilizing the provided information could be the analysis concerning the circulation of overall incomes of the company. Major part of the incomes of CMP originates from the sales of its published books i.e. 64% as displayed in the Case Appendix V. The business could move towards other business sections with a prospective development to attain its future development objective.
PESTEL Analysis
PESTEL analysis could be conducted to learn the numerous external forces affecting the efficiency of the company and the recent patterns in the external environment of the business. A short PESTEL analysis of the business is offered as follows; (Alanzi, 2018).
Political.
As the publishing sector might have a substantial impact on the state of mind of the people about the communist ideology of the government, for that reason, the publishing sector is highly monitored and directed by the Promotion Department of the Communist Celebration of China. Therefore, it might be stated that the general political forces impacting Social Media And Related Technology Drivers Of Change In Managing The Contemporary Sales Force 2 Case Study Solution business are high. The government policies relating to the publishing sector are also increasing with the passage of time.
Affordable.
Financial forces impacting the publishing sector in general and the CMP in specific includesthe prices of paper, the earnings level of consumers, 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.
The customer choices are shifting towards digital publishing rather than the traditional was of publishing. In this regard, CMP should focus on digital publishing to satisfy the changing consumer choices.
Technological.
Technological forces impacting the CMP consist of the technological advancement in the reading methods and so on. Improvement of science and technology along with the rise of digital publishing could decrease the demand for the CMP products, if specific actions would not be taken soon.
Environmental.
Ecological forces impacting Social Media And Related Technology Drivers Of Change In Managing The Contemporary Sales Force 2 Case Study Analysis consists of the issues of ecological communities over the use of paper in publishing books. The paper utilized in the books while publishing is needed to be disposable and the ink used while publishing needs to not be harmful for the environment.
Legal.
Legal regulations for the publishing sector at whole are high. The legal policies relating to the publishing sector is managed by the General Administration of Press and Publication. Publishing Regulation 1997 requires the publishers to be approved initially by the Government to be entered in the publishing market. The ordinance forbids direct involvement of foreign entities and people in the publishing sector.
Industry Analysis (Porter's 5 Forces Design).
Porter's Five Forces Model could be used to evaluate the beauty of the publishing industry China. A quick analysis of the Porter's Five Forces is given as follows;.
Hazard of New Entrants.
Hazards of brand-new entrants in the Chinese Publishing Industry is moderate. The potential development in the market tends to draw in brand-new entrants to the publishing industry. However, the presence of intense competition and the requirement of huge capital tends to demotivate brand-new entrants to enter in the market.
Risk of Substitution.
Threat of Replacement is high for the Chinese Publishing Industry. The alternative items for the published documents is the documents presented in the digital libraries on specific websites. The altering consumer preferences towards digital learning increase the threat of substitution for the industry.
Competitive Competition.
Competitive rivalry in the publishing industry is high. The existence of a great deal of consumers in the Chinese Publishing Market like CIP, PTP etc. tends to produce high competitive competition for CMP. Along with it, brand-new entrants are also participating in the marketplace increasing the competitors for CMP.
Bargaining Power of Supplier.
The significant providers of the Social Media And Related Technology Drivers Of Change In Managing The Contemporary Sales Force 2 Case Study Solution include the providers of the paper for releasing documents. As CMP is the largest publisher in the Chinese Publishing Market, therefore the total bargaining power of supplier 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 marketplace saturation, the purchasers requires high quality files at competitive rates.
Competitors Analysis.
CMP operates in an extremely competitive industry with the existence of large number of competitors. However, the business has a competitive position in the market with the greatest market share in the Chinese publishing market. Major competitors of Social Media And Related Technology Drivers Of Change In Managing The Contemporary Sales Force 2 Case Study Solution consist of;.
• Chemical Industry Press (CIP).
• Posts and telecommunication Press (PTP).
Chemical Market Press (CIP).
CIP acts as a hazard 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 market share of CMP easily in the present market circumstance.
Posts and telecommunication Press (PTP).
It was also founded in the very same period as Social Media And Related Technology Drivers Of Change In Managing The Contemporary Sales Force 2 Case Study Help and CIP. It is likewise one of the popular players in the publishing industry with an annual overall earnings of RMB 550 million in 2010.
Alternatives
Alternative-1: Expand towards New Markets
Pros
• Reducing dependence over the Chinese markets.
• Increasing number of Customers
• Growth chances.
• Avoiding the effect of market saturation in the Chinese publishing industry.
Cons
• Usage of prospective resources in expansion.
• Danger of failure in brand-new markets.
• Time consuming.
Alernative-2: Present Digital Publishing
Pros
• Sustaining consumer base.
• Approaching new markets.
• Easy to introduce using existing abilities.
• Low danger of Failure.
• Low requirement for funds.
• Increased item portfolio provides high value to clients.
Cons
• Competition in the market by CIP, who has prior focus on the digital publishing.
• Shift of focus from the core organisation segments to the new one can lead the company to lose demand of its products in the market.
Recommendations
As the preferences are shifting towards digital publishing and the business need an immediate solution to avoid the decreasing industry development. The company might also think about the growth program after the success of its digital publishing program.
Application
In order to present digital publishing in its item portfolio, the company ought to first collects the information related to the consumer need, the possible markets, the government regulations and the data related to the competitors provided in the market. If the preliminary offering proves a success, the business should 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 decreasing given that 2008, revealing a threat to the business's long term existence, but the circumstance can be managed by considering a development strategy in the future. The company could consider presenting digital publishingin its existing market to implement its advancement program at immediate basis and to prevent the danger of failure for entrance in the new markets.
