Sociology Case Study Solution and Analysis
Intro
Sociology Case Study Solution is the biggest publishing company with a highest market share in the China's book retail market. CMP offers a number of services consisting of; collecting information, processing details and communication services. Major business sectors of the company consist of; books, periodicals, consultancy and circulation. The company has a large item portfolio and its significant items consist of books, regulars, online media, exhibitions, research reports and so on. Sociology Case Study Analysis has actually become a specialized info company and a big extensive Science and Innovation publishing business through the integration of print media, audio-visual media and the network media.
Critical Issues
CMP has spent its 60 years journey smoothly, being a successful publishing house, however, the altering macro market patterns and forces bring certain challenges to the publishing industry in basic and Sociology Case Study Analysis in particular. These factors include;
• Entrance of the new publishing companies in the industry.
• Decreasing growth of the publishing market.
• Market saturation.
• Introduction of digital publishing techniques
• Improvement of science and innovation.
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 business could be used to strive for the future advancement unceasingly? How could the company sustain its long term competitive position in future?
Situational Analysis
Internal Analysis
SWOT Analysis
Strengths
Sociology Case Study Help has certain strengths that can be utilized to decrease the hazards, overcome the weakness and avail the chances. Strengths of CMP are offered as follows;
• The long term experience of Sociology Case Study Analysis in the publishing industry i.e. 60 years permits the business to provide high quality items at a lower expense using its prior experiences.
• The technical resources and abilities generated by its effective journey offer a competitive advantage to CMP.
• Vast product portfolioof CMP helps it to diversify its threat and supply high worth to its consumers.
• Strong financial position allows the company to think about a number of development opportunities without any worry of raising fund externally.
Weaknesses
In addition to the strengths, the business has certain weaknesses which could increase constraints for the business in executing its development program. The weak points of Sociology Case Study Analysis are given as follows;
• Despite of being a science and technology publishing company, the business still has conventional methods ofpublishing which are not compatible with the growing technological shift.
• CMP extremely relies over the Chinese markets for its development. It ought to propose specific 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, impacting Sociology Case Study Solution as well, but the growth might be revived by availing specific chances presented in the market. The marketplace opportunities for CMP consist of;
• The company could also present Digital Publishing by using its long term technical experience and a strong client acknowledgment in the market.
• CMP might think about an advancement program through the growth towards foreign markets in order to decrease its reliance over Chinese markets by using its huge funds.
Hazards
The altering macro trends in the market and increasing competition in the publishing industry has actually posed certain threats to Sociology Case Study Help consisting of;( Gurel, 2017).
• Introduction of digital publishing i.e. virtual libraries could lead to decreasing market share of Sociology Case Study Solution due to the customer shift towards digital 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 gain a strong consumer base by utilizing specific methods like aggressive promotion, quality products, etc.
• Entrance of new publishing companies in the industry along with existence of high competitors increases the risk of losing the client base.
Monetary Analysis.
Due to lack of information, the financial ratios of CMP might not be calculated. It could be analyzed from the Appendix III that the annual overall profits of Sociology Case Study Solution during the duration 2000-2012 are growing at a high growth rate, revealing that the annual need of the items of CMP is growing and the business is rather effective in bring in a large number of customers at a prospective rate.
In addition to it, the second chart which shows the annual growth in the Sociology Case Study Solution total possessions, shows that the company is quite efficient in including worth to its properties through its revenues. The growth in assets reveals that the overall value of the company is likewise increasing with increasing the total incomes. (Unidentified, 2013).
Another monetary analysis of the business using the given information might be the analysis concerning the circulation of overall revenues of the company. Major part of the revenues 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 organisation sectors with a potential development to achieve its future development objective.
PESTEL Analysis
PESTEL analysis might be conducted to find out the different external forces affecting the efficiency of the company and the recent patterns in the external environment of the business. A quick PESTEL analysis of the company is given as follows; (Alanzi, 2018).
Political.
As the publishing sector might have a significant impact on the mindset of the people about the communist ideology of the government, therefore, the publishing sector is extremely supervised and directed by the Promotion Department of the Communist Celebration of China. For that reason, it might be said that the overall political forces affecting Sociology Case Study Solution organisation are high. The federal government policies relating to the publishing sector are also increasing with the passage of time.
Cost-effective.
Economic forces affecting the publishing sector in basic and the CMP in particular includesthe prices of paper, the earnings level of customers, the inflation rate, and the overall GDP development of the nation. All these forces integrate impact the need for the publishing market.
Social and Demographical.
The consumer choices are moving towards digital publishing rather than the standard was of publishing. In this regard, CMP ought to focus on digital publishing to satisfy the changing consumer choices.
Technological.
Technological forces impacting the CMP include the technological advancement in the reading strategies and so on. Improvement of science and innovation along with the rise of digital publishing might decrease the need for the CMP items, if particular actions would not be taken soon.
Environmental.
Ecological forces impacting Sociology Case Study Help consists of the issues of environmental communities over the use of paper in publishing books. The paper used in the books while publishing is required to be disposable and the ink used while publishing should not be harmful for the environment.
Legal.
Legal guidelines for the publishing sector at whole are high. The legal policies regarding the publishing sector is controlled by the General Administration of Press and Publication. Publishing Regulation 1997 requires the publishers to be authorized initially by the Government to be entered in the publishing market. The ordinance forbids direct participation of foreign entities and individuals in the publishing sector.
Market Analysis (Porter's 5 Forces Model).
Porter's 5 Forces Design could be used to examine the beauty of the publishing industry China. A brief analysis of the Porter's 5 Forces is provided as follows;.
Danger of New Entrants.
Hazards of new entrants in the Chinese Publishing Market is moderate. The possible growth in the industry tends to attract brand-new entrants to the publishing market. The presence of intense competition and the requirement of huge capital tends to demotivate new entrants to go into in the market.
Threat of Replacement.
Threat of Alternative is high for the Chinese Publishing Industry. The replacement products for the released files is the documents presented in the digital libraries on specific sites. The changing customer preferences towards digital knowing increase the hazard of replacement for the market.
Competitive Competition.
Competitive rivalry in the publishing market is high. The existence of large number of customers in the Chinese Publishing Market like CIP, PTP and so on 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 providers of the Sociology 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 overall bargaining power of supplier for CMP is low.
Bargaining Power of Buyer.
Negotiating power of purchaser in the publishing industry is high. Due to the existence of a large number of publishers in the Chinese market and the market saturation, the purchasers requires high quality documents at competitive rates.
Rivals Analysis.
CMP runs in a highly competitive market with the existence of a great deal of rivals. Nevertheless, the company has a competitive position in the market with the greatest market share in the Chinese publishing market. Significant rivals of Sociology Case Study Analysis include;.
• Chemical Market Press (CIP).
• Posts and telecommunication Press (PTP).
Chemical Industry 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 circumstance.
Posts and telecommunication Press (PTP).
It was also founded in the same duration as Sociology Case Study Help and CIP. It is likewise one of the popular players in the publishing industry with a yearly overall revenues of RMB 550 million in 2010.
Alternatives
Alternative-1: Broaden towards New Markets
Pros
• Reducing dependence over the Chinese markets.
• Increasing number of Customers
• Development opportunities.
• Avoiding the impact of market saturation in the Chinese publishing market.
Cons
• Usage of potential resources in expansion.
• Risk of failure in brand-new markets.
• Time consuming.
Alernative-2: Introduce Digital Publishing
Pros
• Sustaining consumer base.
• Approaching brand-new markets.
• Easy to present using existing capabilities.
• Low danger of Failure.
• Low requirement for funds.
• Increased item portfolio offers high worth to consumers.
Cons
• Competition in the market by CIP, who has prior concentrate on the digital publishing.
• Shift of focus from the core business sectors to the new one can lead the company to lose need of its items in the market.
Suggestions
As the preferences are shifting towards digital publishing and the company require an immediate option to prevent the declining industry development. The company might likewise consider the growth program after the success of its digital publishing program.
Execution
In order to introduce digital publishing in its item portfolio, the company should first collects the data connected to the consumer need, the prospective markets, the government policies and the data connected to the rivals provided in the market. After that, the company must choose one prospective sector for its initial offering. It should collect research that how it might separate its digital publishing from the existing competitors' products. After all the steps above the company need to go for the preliminary offering. The company must go for the other markets if the preliminary offering shows a success. In this way the business would have the ability to implement its digital publishing program.
Conclusion
Although, the growth of the publishing market is declining since 2008, revealing a threat to the business's long term presence, however the scenario can be managed by thinking about a development strategy in the future. The business could think about introducing digital publishingin its existing market to implement its advancement program at instant basis and to avoid the danger of failure for entrance in the new markets.
