Social Media In Health Care Case Study Solution and Analysis
Introduction
Social Media In Health Care Case Study Help is the biggest publishing company with a greatest market share in the China's book retail market. CMP has become a specialized details company and a big detailed Science and Innovation publishing company through the integration of print media, audio-visual media and the network media.
Crucial Issues
CMP has actually spent its 60 years journey smoothly, being an effective publishing house, however, the changing macro market patterns and forces bring certain obstacles to the publishing industry in basic and Social Media In Health Care Case Study Analysis in specific. These aspects include;
• Entrance of the brand-new publishing firms in the industry.
• Decreasing development of the publishing market.
• Market saturation.
• Intro of digital publishing methods
• Enhancement of science and technology.
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 situation? Do the long valuable 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
Social Media In Health Care Case Study Solution has certain strengths that can be made use of to reduce the threats, conquer the weak point and get the chances. Strengths of CMP are given as follows;
• The long term experience of Social Media In Health Care Case Study Analysis in the publishing market i.e. 60 years enables the business to supply high quality items at a lower cost utilizing its prior experiences.
• The technical resources and abilities generated by its successful journey provide a competitive benefit to CMP.
• Huge item portfolioof CMP helps it to diversify its danger and offer high value to its consumers.
• Strong monetary position enables the company to think about a number of advancement opportunities without any worry of raising fund externally.
Weak points
Along with the strengths, the company has certain weak points which could increase constraints for the company in executing its development program. The weak points of Social Media In Health Care Case Study Analysis are given as follows;
• Despite of being a science and innovation publishing company, the company still has standard ways 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 strategies to avoid its reliance over the Chinese markets to attain long term development.
Opportunities
The development of the publishing industry is declining given that 2008, affecting Social Media In Health Care Case Study Solution as well, however the development might be restored by availing specific chances provided in the market. The market chances for CMP include;
• The business could also present Digital Publishing by using its long term technical experience and a strong client recognition in the market.
• CMP could think about an advancement program through the growth towards foreign markets in order to minimize its dependence over Chinese markets by utilizing its vast financial resources.
Threats
The altering macro patterns in the market and increasing competition in the publishing industry has positioned certain dangers to Social Media In Health Care Case Study Analysis consisting of;( Gurel, 2017).
• Intro of digital publishing i.e. virtual libraries could result in declining market share of Social Media In Health Care Case Study Help due to the consumer shift towards digital libraries.
• The existence of large number of rivals in the publishing industry increase the danger for CMP to lose its competitive position in the market, as rivals can get a strong consumer base by utilizing particular strategies like aggressive promotion, quality items, and so on
• Entrance of new publishing companies in the industry along with presence of high competitors increases the threat of losing the customer base.
Financial Analysis.
Due to absence of information, the monetary ratios of CMP could not be determined. It could be evaluated from the Appendix III that the yearly overall revenues of Social Media In Health Care Case Study Help throughout the duration 2000-2012 are growing at a high development rate, revealing that the annual demand of the items of CMP is growing and the business is rather efficient in attracting a large number of clients at a possible cost.
In addition to it, the second chart which shows the annual development in the Social Media In Health Care Case Study Solution total properties, reveals that the business is quite efficient in adding value to its possessions through its incomes. The growth in assets shows that the overall worth of the firm is also increasing with increasing the total incomes. (Unknown, 2013).
Another monetary analysis of the business utilizing the given information might be the analysis relating to the distribution of total earnings of the business. Huge part of the profits of CMP comes from the sales of its published books i.e. 64% as shown in the Case Appendix V. The company could move towards other company segments with a potential development to attain its future development goal.
PESTEL Analysis
PESTEL analysis could be performed to learn the various external forces affecting the performance of the company and the recent trends in the external environment of the business. A short PESTEL analysis of the business is provided 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 government, for that reason, the publishing sector is extremely monitored and assisted by the Publicity Department of the Communist Party of China. It could be stated that the overall political forces affecting CMP company are high. The government policies concerning the publishing sector are likewise increasing with the passage of time.
Economical.
Financial forces impacting the publishing sector in basic and the Social Media In Health Care Case Study Help in particular includesthe rates of paper, the earnings level of customers, the inflation rate, and the total GDP development of the nation. All these forces combine impact the demand for the publishing market. Along with it, the economic policies related to the import of books impact the general business at CPM. China's financial conditions are rather favorable for CMP with high GDP growth and consumer earnings level.
Social and Demographical.
The consumer preferences are shifting towards digital publishing rather than the conventional was of publishing. In this regard, CMP should focus on digital publishing to meet the changing customer choices.
Technological.
Technological forces affecting the CMP include the technological advancement in the reading techniques etc. Enhancement of science and technology together with the rise of digital publishing might lower the need for the CMP products, if certain actions would not be taken soon.
Environmental.
Environmental forces affecting Social Media In Health Care Case Study Help includes the issues of environmental communities over the usage of paper in publishing books. The paper utilized in the books while publishing is required to be disposable and the ink utilized while publishing needs to not be damaging for the environment.
Legal.
Legal regulations for the publishing sector at whole are high. Publishing Ordinance 1997 needs the publishers to be approved first by the Federal government to be entered in the publishing market.
Market Analysis (Porter's 5 Forces Model).
Porter's Five Forces Model could be utilized to examine the attractiveness of the publishing industry China. A short analysis of the Porter's 5 Forces is provided as follows;.
Threat of New Entrants.
Hazards of brand-new entrants in the Chinese Publishing Market is moderate. The prospective development in the industry tends to draw in brand-new entrants to the publishing market. Nevertheless, the presence of extreme competition and the requirement of big capital tends to demotivate new entrants to go into in the market.
Danger of Replacement.
Risk of Substitution is high for the Chinese Publishing Industry. The substitute products for the published documents is the files provided in the virtual libraries on certain websites. The changing consumer preferences towards digital knowing increase the danger of replacement for the industry.
Competitive Competition.
Competitive rivalry in the publishing market is high. The presence 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 likewise entering into the market increasing the competitors for CMP.
Bargaining Power of Supplier.
The significant suppliers of the Social Media In Health Care Case Study Analysis include the suppliers of the paper for releasing files. As CMP is the biggest publisher in the Chinese Publishing Market, for that reason the general bargaining power of supplier for CMP is low.
Bargaining Power of Purchaser.
Negotiating power of purchaser in the publishing industry is high. Due to the existence of a a great deal of publishers in the Chinese market and the marketplace saturation, the purchasers needs high quality files at competitive costs.
Rivals Analysis.
CMP operates in an extremely competitive market with the presence of a great deal of rivals. Nevertheless, the company has a competitive position in the market with the highest market share in the Chinese publishing market. Major rivals of Social Media In Health Care Case Study Analysis consist of;.
• Chemical Market Press (CIP).
• Posts and telecommunication Press (PTP).
Chemical Market Press (CIP).
CIP acts as a danger for CMP as it could 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 easily in the present market situation.
Posts and telecommunication Press (PTP).
Another close competitor of CMP is PTP. It was also established in the exact same duration as CMP and CIP. It ranks sixth in the state-owned publishers in terms of organisation scale. It is likewise one of the prominent gamers in the publishing market with a yearly total revenues of RMB 550 million in 2010.
Alternatives
Alternative-1: Expand towards New Markets
Pros
• Reducing dependence over the Chinese markets.
• Increasing variety of Clients
• Growth chances.
• Preventing the impact of market saturation in the Chinese publishing market.
Cons
• Use of prospective resources in growth.
• Risk of failure in new markets.
• Time consuming.
Alernative-2: Introduce Digital Publishing
Pros
• Sustaining customer base.
• Approaching new markets.
• Easy to introduce utilizing present capabilities.
• Low risk of Failure.
• Low requirement for funds.
• Increased product portfolio offers high value to clients.
Cons
• Competitors in the market by CIP, who has prior focus on the digital publishing.
• Shift of focus from the core service segments to the brand-new one can lead the business to lose demand of its products in the market.
Recommendations
As the choices are moving towards digital publishing and the business require an immediate service to avoid the decreasing industry growth. The business could also consider the expansion program after the success of its digital publishing program.
Implementation
In order to present digital publishing in its product portfolio, the business needs to first gathers the information related to the customer demand, the possible markets, the government policies and the data connected to the competitors provided in the market. After that, the company ought to decide one possible segment for its preliminary offering. It needs to gather research study that how it could separate its digital publishing from the existing competitors' products. The steps above the company should go for the preliminary offering. The business needs to go for the other markets if the preliminary offering shows a success. In this method the business would have the ability to implement its digital publishing program.
Conclusion
The development of the publishing industry is declining because 2008, showing a threat to the company's long term existence, however the scenario can be controlled by considering an advancement plan in the future. The company might think about presenting digital publishingin its existing market to implement its development program at immediate basis and to avoid the risk of failure for entryway in the brand-new markets.
