Techmission Jesus Justice And Technology 2 Case Study Solution and Analysis
Introduction
Techmission Jesus Justice And Technology 2 Case Study Help is the largest publishing company with a highest market share in the China's book retail market. CMP provides a variety of services consisting of; gathering details, processing info and interaction services. Significant service sectors of the business consist of; books, regulars, consultancy and distribution. The company has a vast item portfolio and its significant products include books, periodicals, online media, exhibits, research reports and so on. Techmission Jesus Justice And Technology 2 Case Study Help has actually ended up being a specialized information provider and a large comprehensive Science and Technology publishing business through the combination of print media, audio-visual media and the network media.
Crucial Problems
Although, Techmission Jesus Justice And Technology 2 Case Study Solution has spent its 60 years journey smoothly, being an effective publishing house, nevertheless, the altering macro market trends and forces bring particular difficulties to the publishing industry in general and CMP in particular. These factors include;
• Entrance of the new publishing firms in the market.
• Decreasing development of the publishing market.
• Market saturation.
• Introduction of digital publishing methods
• Improvement of science and innovation.
The transformation of the macro markets have raised several questions to the management at CPM that what could be the future of CMP in this circumstance? Do the long important experience, technical resources and the capabilities of the business could be made use of to pursue the future development unceasingly? How could the company sustain its long term competitive position in future?
Situational Analysis
Internal Analysis
SWOT Analysis
Strengths
Techmission Jesus Justice And Technology 2 Case Study Solution has particular strengths that can be utilized to decrease the threats, conquer the weakness and avail the opportunities. Strengths of CMP are given as follows;
• The long term experience of Techmission Jesus Justice And Technology 2 Case Study Solution in the publishing industry i.e. 60 years permits the business to offer high quality products at a lower cost using its prior experiences.
• The technical resources and capabilities produced by its successful journey supply a competitive advantage to CMP.
• Huge item portfolioof CMP assists it to diversify its risk and offer high value to its consumers.
• Strong financial position enables the company to think about numerous advancement chances with no fear of raising fund externally.
Weaknesses
In addition to the strengths, the business has particular weaknesses which could increase constraints for the business in executing its development program. The weaknesses of Techmission Jesus Justice And Technology 2 Case Study Solution are provided as follows;
• Despite of being a science and technology publishing firm, the company still has standard ways ofpublishing which are not compatible with the growing technological shift.
• CMP highly relies over the Chinese markets for its development. It ought to propose particular expansion strategies to avoid its reliance over the Chinese markets to accomplish long term development.
Opportunities
The development of the publishing industry is decreasing because 2008, impacting Techmission Jesus Justice And Technology 2 Case Study Analysis as well, but the development might be revived by availing particular opportunities presented in the market. The market opportunities for CMP consist of;
• The business could likewise introduce Digital Publishing by using its long term technical experience and a strong consumer acknowledgment in the market.
• CMP might think about a development program through the growth towards foreign markets in order to reduce its dependence over Chinese markets by utilizing its large funds.
Threats
The altering macro patterns in the market and increasing competitors in the publishing industry has positioned specific hazards to Techmission Jesus Justice And Technology 2 Case Study Analysis consisting of;( Gurel, 2017).
• Introduction of digital publishing i.e. digital libraries could result in declining market share of Techmission Jesus Justice And Technology 2 Case Study Help due to the customer shift towards virtual libraries.
• The presence of large number of competitors in the publishing market increase the hazard for CMP to lose its competitive position in the market, as rivals can acquire a strong customer base by using specific strategies like aggressive promo, quality items, etc.
• Entryway of new publishing firms in the market together with presence of high competition increases the hazard of losing the customer base.
Financial Analysis.
Due to lack of data, the monetary ratios of CMP might not be computed. It could be analyzed from the Appendix III that the yearly total profits of Techmission Jesus Justice And Technology 2 Case Study Solution throughout the duration 2000-2012 are growing at a high development rate, showing that the annual demand of the products of CMP is growing and the company is rather efficient in bring in a big number of clients at a potential price.
Together with it, the second chart which reveals the yearly development in the Techmission Jesus Justice And Technology 2 Case Study Solution total possessions, shows that the company is rather effective in including value to its properties through its profits. The growth in assets shows that the total value of the firm is also increasing with increasing the overall profits. (Unidentified, 2013).
Another monetary analysis of the business utilizing the given information could be the analysis regarding the circulation of overall earnings of the business. Huge part of the earnings of CMP originates from the sales of its published books i.e. 64% as shown in the Case Appendix V. The business might move towards other company sections with a potential growth to attain its future development goal.
PESTEL Analysis
PESTEL analysis could be conducted to find out the various external forces impacting the performance of the company and the current trends in the external environment of the company. A short PESTEL analysis of the business 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, for that reason, the publishing sector is extremely monitored and guided by the Promotion Department of the Communist Party of China. For that reason, it might be stated that the general political forces affecting Techmission Jesus Justice And Technology 2 Case Study Help service are high. The federal government policies concerning the publishing sector are likewise increasing with the passage of time.
Cost-effective.
Economic forces impacting the publishing sector in basic and the Techmission Jesus Justice And Technology 2 Case Study Solution in specific includesthe costs of paper, the income level of consumers, the inflation rate, and the overall GDP growth of the nation. All these forces integrate effect the demand for the publishing market. Together with it, the financial policies associated with the import of books affect the overall service at CPM. However, China's financial conditions are rather favorable for CMP with high GDP growth and consumer earnings level.
Social and Demographical.
Social and demographical forces consist of the population development, the consumer's choices towards reading useful materials etc. China has the greatest population worldwide with a high population development, showing the increasing number of customers of the Techmission Jesus Justice And Technology 2 Case Study Analysis. The customer choices are shifting towards digital publishing rather than the standard was of publishing. In this regard, CMP should focus on digital publishing to satisfy the altering customer preferences.
Technological.
Technological forces impacting the CMP include the technological improvement in the reading methods and so on. Enhancement of science and technology along with the rise of digital publishing might lower the demand for the CMP items, if certain actions would not be taken soon.
Environmental.
Ecological forces affecting Techmission Jesus Justice And Technology 2 Case Study Analysis includes the concerns of ecological communities over the usage of paper in publishing books. The paper used in the books while publishing is needed to be disposable and the ink used while publishing should not be damaging for the environment.
Legal.
Legal policies for the publishing sector at whole are high. Publishing Ordinance 1997 requires the publishers to be approved first by the Government to be entered in the publishing market.
Industry Analysis (Porter's 5 Forces Model).
Porter's 5 Forces Design could be utilized to evaluate the appearance of the publishing market China. A quick analysis of the Porter's Five Forces is provided as follows;.
Hazard of New Entrants.
Dangers of brand-new entrants in the Chinese Publishing Industry is moderate. The potential development in the market tends to bring in brand-new entrants to the publishing industry. The presence of intense competition and the requirement of big capital tends to demotivate brand-new entrants to go into in the market.
Threat of Substitution.
Risk of Substitution is high for the Chinese Publishing Industry. The alternative products for the published documents is the files provided in the digital libraries on certain sites. The altering customer preferences towards digital learning increase the hazard 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 Industry like CIP, PTP etc. tends to produce high competitive rivalry for CMP. Together with it, new entrants are also entering into the market increasing the competitors for CMP.
Bargaining Power of Supplier.
The major providers of the Techmission Jesus Justice And Technology 2 Case Study Help include the suppliers of the paper for publishing files. As CMP is the biggest publisher in the Chinese Publishing Market, for that reason the total bargaining power of supplier for CMP is low.
Bargaining Power of Buyer.
Negotiating power of buyer in the publishing industry is high. Due to the existence of a large number of publishers in the Chinese market and the marketplace saturation, the buyers needs high quality documents at competitive costs.
Competitors Analysis.
CMP runs in a highly competitive market with the presence of large number of competitors. The company has a competitive position in the market with the greatest market share in the Chinese publishing market. Major rivals of Techmission Jesus Justice And Technology 2 Case Study Help consist of;.
• Chemical Market Press (CIP).
• Posts and telecommunication Press (PTP).
Chemical Market Press (CIP).
CIP acts as a hazard for CMP as it might 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 existing market circumstance.
Posts and telecommunication Press (PTP).
Another close competitor of CMP is PTP. It was also established in the very same duration as CMP and CIP. It ranks 6th in the state-owned publishers in regards to business scale. It is likewise among the prominent players in the publishing industry with a yearly overall profits of RMB 550 million in 2010.
Alternatives
Alternative-1: Expand towards New Markets
Pros
• Lowering reliance over the Chinese markets.
• Increasing number of Consumers
• Growth chances.
• Avoiding the effect of market saturation in the Chinese publishing market.
Cons
• Use of prospective resources in growth.
• Threat of failure in new markets.
• Time consuming.
Alernative-2: Present Digital Publishing
Pros
• Sustaining customer base.
• Approaching new markets.
• Easy to present using current abilities.
• Low threat of Failure.
• Low requirement for funds.
• Increased item portfolio provides high value to clients.
Cons
• Competitors in the market by CIP, who has prior concentrate on the digital publishing.
• Shift of focus from the core company segments to the new one can lead the company to lose need of its products in the market.
Suggestions
With the deep analysis of the external and internal environment of the company in addition to the market analysis and the rival analysis, Alternative 2 is suggested to CMP to attain its future advancement. As the preferences are shifting towards digital publishing and the business require an instant service to avoid the declining market growth. Therefore, intro of digital publishing could prove to be an immediate option with low amount of threat for the business. The company could likewise think about the expansion program after the success of its digital publishing program.
Application
In order to introduce digital publishing in its item portfolio, the business needs to first gathers the information related to the consumer demand, the potential markets, the government guidelines and the information related to the competitors provided in the market. If the initial offering shows a success, the company needs to go for the other markets. In this method the business would be able to implement its digital publishing program.
Conclusion
The growth of the publishing industry is decreasing because 2008, revealing a threat to the business's long term existence, however the scenario can be controlled by thinking about an advancement strategy in the future. The business might consider introducing digital publishingin its existing market to execute its advancement program at instant basis and to avoid the threat of failure for entryway in the new markets.
