Standards As A Strategic Tool In Implementing Economic Policy Developing Singapores Oil Bunkering Industry Case Study Solution and Analysis
Introduction
Standards As A Strategic Tool In Implementing Economic Policy Developing Singapores Oil Bunkering Industry Case Study Help is the largest publishing company with a greatest market share in the China's book retail market. CMP supplies a variety of services including; gathering details, processing details and interaction services. Major service sectors of the company include; books, regulars, consultancy and distribution. The company has a large product portfolio and its significant items consist of books, regulars, online media, exhibits, research study reports and so on. Standards As A Strategic Tool In Implementing Economic Policy Developing Singapores Oil Bunkering Industry Case Study Help has become a specialized info service provider and a big thorough Science and Technology publishing business through the combination of print media, audio-visual media and the network media.
Critical Issues
Although, Standards As A Strategic Tool In Implementing Economic Policy Developing Singapores Oil Bunkering Industry Case Study Solution has actually spent its 60 years journey efficiently, being a successful publishing home, however, the changing macro market patterns and forces bring certain challenges to the publishing market in basic and CMP in particular. These aspects consist of;
• Entrance of the brand-new publishing companies in the industry.
• Decreasing growth of the publishing market.
• Market saturation.
• Intro of digital publishing techniques
• Improvement of science and technology.
The change 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 valuable experience, technical resources and the abilities of the business could be utilized to strive for the future advancement unceasingly? How could the business sustain its long term competitive position in future?
Situational Analysis
Internal Analysis
SWOT Analysis
Strengths
Standards As A Strategic Tool In Implementing Economic Policy Developing Singapores Oil Bunkering Industry Case Study Solution has particular strengths that can be made use of to minimize the hazards, overcome the weak point and get the chances. Strengths of CMP are offered as follows;
• The long term experience of Standards As A Strategic Tool In Implementing Economic Policy Developing Singapores Oil Bunkering Industry Case Study Analysis in the publishing market i.e. 60 years allows the company to supply high quality products at a lower cost using its prior experiences.
• The technical resources and abilities produced by its successful journey supply a competitive benefit to CMP.
• Huge item portfolioof CMP assists it to diversify its threat and supply high worth to its clients.
• Strong financial position permits the business to think about numerous advancement chances without any fear of raising fund externally.
Weaknesses
Together with the strengths, the company has specific weaknesses which might increase restrictions for the company in executing its development program. The weak points of Standards As A Strategic Tool In Implementing Economic Policy Developing Singapores Oil Bunkering Industry Case Study Help are given as follows;
• Despite of being a science and innovation publishing company, the company still has conventional ways ofpublishing which are not compatible with the growing technological shift.
• CMP highly relies over the Chinese markets for its growth. It needs to propose certain growth plans to prevent its dependence over the Chinese markets to attain long term growth.
Opportunities
Although, the development of the publishing market is declining because 2008, impacting Standards As A Strategic Tool In Implementing Economic Policy Developing Singapores Oil Bunkering Industry Case Study Help too, but the growth could be restored by availing specific chances presented in the market. The market opportunities for CMP include;
• The business might also introduce Digital Publishing by utilizing its long term technical experience and a strong consumer acknowledgment in the market.
• CMP might consider a development program through the growth towards foreign markets in order to minimize its dependence over Chinese markets by using its huge financial resources.
Hazards
The changing macro patterns in the market and increasing competition in the publishing market has postured specific threats to Standards As A Strategic Tool In Implementing Economic Policy Developing Singapores Oil Bunkering Industry Case Study Help including;( Gurel, 2017).
• Intro of digital publishing i.e. digital libraries might lead to decreasing market share of Standards As A Strategic Tool In Implementing Economic Policy Developing Singapores Oil Bunkering Industry Case Study Solution due to the consumer shift towards digital libraries.
• The existence of a great deal of competitors in the publishing market increase the danger for CMP to lose its competitive position in the market, as competitors can get a strong customer base by utilizing specific techniques like aggressive promotion, quality products, and so on
• Entryway of brand-new publishing firms in the market together with existence of high competition increases the danger of losing the client base.
Financial Analysis.
Due to absence of information, the financial ratios of CMP might not be determined. It might be analyzed from the Appendix III that the yearly total earnings of Standards As A Strategic Tool In Implementing Economic Policy Developing Singapores Oil Bunkering Industry Case Study Analysis during the duration 2000-2012 are growing at a high development rate, revealing that the yearly demand of the products of CMP is growing and the company is quite effective in bring in a big number of consumers at a potential price.
Together with it, the 2nd chart which shows the annual development in the Standards As A Strategic Tool In Implementing Economic Policy Developing Singapores Oil Bunkering Industry Case Study Solution total properties, shows that the business is quite efficient in adding value to its assets through its incomes. The growth in possessions reveals that the overall worth of the company is also increasing with increasing the overall revenues. (Unknown, 2013).
Another financial analysis of the company using the provided information could be the analysis regarding the distribution of overall earnings of the company. Huge part of the revenues of CMP originates from the sales of its released books i.e. 64% as displayed in the Case Appendix V. The business might move towards other service segments with a potential growth to achieve its future development goal.
PESTEL Analysis
PESTEL analysis could be conducted to find out the numerous external forces impacting the performance of the business and the recent patterns in the external environment of the company. A short PESTEL analysis of the business is offered as follows; (Alanzi, 2018).
Political.
As the publishing sector could have a substantial 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 Publicity Department of the Communist Celebration of China. It could be stated that the general political forces impacting CMP service are high. The federal government policies relating to the publishing sector are likewise increasing with the passage of time.
Affordable.
Financial forces impacting the publishing sector in general and the Standards As A Strategic Tool In Implementing Economic Policy Developing Singapores Oil Bunkering Industry Case Study Solution in particular includesthe prices of paper, the income level of consumers, the inflation rate, and the general GDP growth of the country. All these forces integrate effect the demand for the publishing market. In addition to it, the economic policies related to the import of books affect the overall service at CPM. China's economic conditions are rather favorable for CMP with high GDP development and customer income level.
Social and Demographical.
Social and demographical forces include the population growth, the consumer's choices towards reading informative materials etc. China has the highest population in the world with a high population growth, showing the increasing variety of consumers of the Standards As A Strategic Tool In Implementing Economic Policy Developing Singapores Oil Bunkering Industry Case Study Help. The customer preferences are shifting towards digital publishing rather than the traditional was of publishing. In this regard, CMP ought to concentrate on digital publishing to meet the changing customer choices.
Technological.
Technological forces affecting the CMP include the technological improvement in the reading methods and so on. Enhancement of science and innovation in addition to the increase of digital publishing might decrease the demand for the CMP products, if particular actions would not be taken quickly.
Environmental.
Environmental forces affecting Standards As A Strategic Tool In Implementing Economic Policy Developing Singapores Oil Bunkering Industry Case Study Solution consists of the issues of ecological communities over the use of paper in publishing books. The paper utilized in the books while publishing is required to be non reusable 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. Publishing Regulation 1997 requires the publishers to be approved first by the Federal government to be entered in the publishing market.
Market Analysis (Porter's Five Forces Design).
Porter's 5 Forces Model might be utilized to examine the beauty of the publishing industry China. A short analysis of the Porter's 5 Forces is given as follows;.
Threat of New Entrants.
Dangers of brand-new entrants in the Chinese Publishing Industry is moderate. The prospective growth in the industry tends to attract brand-new entrants to the publishing market. The existence of extreme competition and the requirement of substantial capital tends to demotivate new entrants to enter in the market.
Risk of Alternative.
Risk of Substitution is high for the Chinese Publishing Market. The substitute products for the released files is the documents provided in the digital libraries on certain websites. The altering customer choices towards digital knowing increase the threat of alternative for the industry.
Competitive Competition.
Competitive competition in the publishing market is high. The presence of a great deal of consumers in the Chinese Publishing Industry like CIP, PTP etc. tends to produce high competitive competition for CMP. In addition to it, new entrants are also entering into the marketplace increasing the competitors for CMP.
Bargaining Power of Provider.
The major providers of the Standards As A Strategic Tool In Implementing Economic Policy Developing Singapores Oil Bunkering Industry Case Study Analysis consist of the providers of the paper for releasing documents. As CMP is the largest publisher in the Chinese Publishing Market, for that reason the general bargaining power of provider for CMP is low.
Bargaining Power of Buyer.
Negotiating power of purchaser in the publishing industry is high. Due to the presence of a a great deal of publishers in the Chinese market and the marketplace saturation, the purchasers needs high quality documents at competitive rates.
Competitors Analysis.
CMP runs in a highly competitive industry with the existence of large number of rivals. The business has a competitive position in the market with the greatest market share in the Chinese publishing market. Significant competitors of Standards As A Strategic Tool In Implementing Economic Policy Developing Singapores Oil Bunkering Industry Case Study Analysis include;.
• Chemical Industry Press (CIP).
• Posts and telecommunication Press (PTP).
Chemical Industry 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 might wean the market share of CMP quickly in the present market situation.
Posts and telecommunication Press (PTP).
It was likewise founded in the same duration as Standards As A Strategic Tool In Implementing Economic Policy Developing Singapores Oil Bunkering Industry Case Study Help and CIP. It is likewise one of the prominent gamers in the publishing market with a yearly overall profits of RMB 550 million in 2010.
Alternatives
Alternative-1: Broaden towards New Markets
Pros
• Lowering dependence over the Chinese markets.
• Increasing number of Consumers
• Development opportunities.
• Avoiding the impact of market saturation in the Chinese publishing market.
Cons
• Usage of potential resources in growth.
• Threat of failure in brand-new markets.
• Time consuming.
Alernative-2: Introduce Digital Publishing
Pros
• Sustaining consumer base.
• Approaching new markets.
• Easy to introduce utilizing current capabilities.
• Low threat of Failure.
• Low requirement for funds.
• Increased product portfolio provides high worth to customers.
Cons
• Competition in the market by CIP, who has prior concentrate on the digital publishing.
• Shift of focus from the core service sections to the brand-new one can lead the company to lose demand of its items in the market.
Suggestions
With the deep analysis of the external and internal environment of the company along with the market analysis and the competitor analysis, Alternative 2 is recommended to CMP to achieve its future development. As the preferences are shifting towards digital publishing and the business require an instant service to avoid the declining industry growth. Therefore, intro of digital publishing could show to be an instant solution with low quantity of threat for the company. The company could likewise consider the growth program after the success of its digital publishing program.
Execution
In order to introduce digital publishing in its product portfolio, the business should initially gathers the data related to the consumer need, the potential markets, the government guidelines and the information related to the rivals presented in the market. If the initial offering shows a success, the business needs to go for the other markets. In this way the business would be able to execute its digital publishing program.
Conclusion
Although, the development of the publishing industry is decreasing considering that 2008, revealing a threat to the business's long term presence, however the circumstance can be controlled by considering a development strategy in the future. The company could think about presenting digital publishingin its existing market to execute its development program at immediate basis and to prevent the risk of failure for entryway in the brand-new markets.
