Techmission Jesus Justice And Technology Case Study Solution and Analysis
Introduction
Techmission Jesus Justice And Technology Case Study Help is the largest publishing business with a greatest market share in the China's book retail market. CMP has become a specialized information supplier and a large thorough Science and Innovation publishing business through the combination of print media, audio-visual media and the network media.
Crucial Issues
Although, Techmission Jesus Justice And Technology Case Study Help has invested its 60 years journey efficiently, being a successful publishing house, nevertheless, the altering macro market patterns and forces bring certain challenges to the publishing market in general and CMP in specific. These aspects include;
• Entrance of the brand-new publishing firms in the market.
• Declining development of the publishing market.
• Market saturation.
• Intro of digital publishing strategies
• Enhancement of science and innovation.
The improvement of the macro markets have raised numerous questions to the management at CPM that what could be the future of CMP in this scenario? Do the long important experience, technical resources and the capabilities of the company could be used to pursue the future advancement 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 Case Study Analysis has particular strengths that can be utilized to reduce the hazards, conquer the weak point and get the chances. Strengths of CMP are offered as follows;
• The long term experience of Techmission Jesus Justice And Technology Case Study Analysis in the publishing industry i.e. 60 years enables the business to supply high quality items at a lower expense using its previous experiences.
• The technical resources and capabilities created by its effective journey supply a competitive benefit to CMP.
• Vast product portfolioof CMP helps it to diversify its danger and supply high worth to its clients.
• Strong monetary position allows the company to think about a number of advancement chances without any worry of raising fund externally.
Weak points
Together with the strengths, the company has particular weaknesses which could increase constraints for the business in executing its development program. The weaknesses of Techmission Jesus Justice And Technology Case Study Help are offered as follows;
• Despite of being a science and technology publishing firm, the company still has conventional ways ofpublishing which are not suitable with the growing technological shift.
• CMP extremely relies over the Chinese markets for its development. It must propose specific expansion plans to avoid its dependence over the Chinese markets to achieve long term development.
Opportunities
The growth of the publishing market is decreasing because 2008, affecting Techmission Jesus Justice And Technology Case Study Help as well, but the growth could be revived by availing certain chances provided in the market. The marketplace opportunities for CMP consist of;
• The company could also present Digital Publishing by utilizing its long term technical experience and a strong client acknowledgment in the market.
• CMP might consider an advancement program through the growth towards foreign markets in order to decrease its dependence over Chinese markets by utilizing its large funds.
Dangers
The altering macro patterns in the market and increasing competition in the publishing industry has positioned specific dangers to Techmission Jesus Justice And Technology Case Study Help including;( Gurel, 2017).
• Intro of digital publishing i.e. virtual libraries could cause decreasing market share of Techmission Jesus Justice And Technology Case Study Analysis due to the consumer shift towards digital libraries.
• The presence of a great deal of competitors in the publishing industry increase the risk for CMP to lose its competitive position in the market, as competitors can get a strong customer base by using particular techniques like aggressive promo, quality products, and so on
• Entrance of brand-new publishing firms in the market in addition to existence of high competition increases the danger of losing the consumer base.
Financial Analysis.
Due to absence of information, the financial ratios of CMP might not be determined. It could be analyzed from the Appendix III that the annual total profits of Techmission Jesus Justice And Technology Case Study Help during the period 2000-2012 are growing at a high growth rate, showing that the annual demand of the items of CMP is growing and the company is quite effective in drawing in a large number of clients at a possible cost.
Along with it, the second graph which shows the yearly development in the Techmission Jesus Justice And Technology Case Study Solution overall properties, shows that the business is rather efficient in adding value to its possessions through its revenues. The growth in assets reveals that the overall value of the company is also increasing with increasing the total revenues. (Unidentified, 2013).
Another monetary analysis of the company utilizing the given data might be the analysis concerning the circulation of overall revenues of the company. Huge part of the profits of CMP originates from the sales of its published books i.e. 64% as displayed in the Case Appendix V. The company could move towards other organisation sections with a possible development to attain its future development objective.
PESTEL Analysis
PESTEL analysis might be conducted to find out the numerous external forces impacting the performance of the business and the current trends in the external environment of the company. A short PESTEL analysis of the business is provided as follows; (Alanzi, 2018).
Political.
As the publishing sector could have a considerable effect on the mindset of individuals about the communist ideology of the federal government, therefore, the publishing sector is highly monitored and assisted by the Publicity Department of the Communist Party of China. It could be stated that the total political forces affecting CMP business are high. The federal government policies relating to the publishing sector are likewise increasing with the passage of time.
Cost-effective.
Financial forces affecting the publishing sector in general and the CMP in specific includesthe prices of paper, the earnings level of customers, the inflation rate, and the general GDP development of the nation. All these forces integrate impact the demand for the publishing market.
Social and Demographical.
The consumer preferences are moving towards digital publishing rather than the traditional was of publishing. In this regard, CMP needs to focus on digital publishing to meet the changing customer preferences.
Technological.
Technological forces impacting the CMP include the technological advancement in the reading methods etc. Improvement of science and technology along with the increase of digital publishing might reduce the need for the CMP items, if particular actions would not be taken quickly.
Environmental.
Environmental forces impacting Techmission Jesus Justice And Technology Case Study Help includes 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 utilized while publishing should not be damaging for the environment.
Legal.
Legal policies for the publishing sector at whole are high. The legal regulations regarding the publishing sector is controlled by the General Administration of Press and Publication. Publishing Regulation 1997 needs the publishers to be authorized first by the Federal government to be entered in the publishing market. The regulation forbids direct participation of foreign entities and individuals in the publishing sector.
Market Analysis (Porter's 5 Forces Model).
Porter's 5 Forces Model could be used to examine the appearance of the publishing market China. A short analysis of the Porter's Five Forces is provided as follows;.
Risk of New Entrants.
Dangers of new entrants in the Chinese Publishing Market is moderate. The potential development in the market tends to attract new entrants to the publishing market. Nevertheless, the existence of intense competition and the requirement of big capital tends to demotivate brand-new entrants to enter in the market.
Threat of Alternative.
Risk of Replacement is high for the Chinese Publishing Industry. The replacement products for the released files is the documents provided in the digital libraries on certain sites. The changing consumer preferences towards digital knowing increase the hazard of replacement for the industry.
Competitive Rivalry.
Competitive rivalry in the publishing market is high. The existence of a great deal of customers in the Chinese Publishing Market like CIP, PTP etc. tends to produce high competitive competition for CMP. Along with it, new entrants are likewise participating in the marketplace increasing the competitors for CMP.
Bargaining Power of Provider.
The significant providers of the Techmission Jesus Justice And Technology Case Study Solution include the providers of the paper for publishing files. As CMP is the largest publisher in the Chinese Publishing Market, for that reason the overall 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 presence of a large number of publishers in the Chinese market and the marketplace saturation, the purchasers needs high quality files at competitive rates.
Rivals Analysis.
CMP runs in a highly competitive industry with the presence 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 rivals of Techmission Jesus Justice And Technology Case Study Solution consist of;.
• Chemical Industry Press (CIP).
• Posts and telecommunication Press (PTP).
Chemical Industry Press (CIP).
CIP acts as a danger 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).
It was likewise founded in the same period as Techmission Jesus Justice And Technology Case Study Analysis and CIP. It is likewise one of the popular gamers in the publishing industry with an annual 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 Consumers
• Development opportunities.
• Avoiding the impact of market saturation in the Chinese publishing industry.
Cons
• Use of potential resources in expansion.
• Danger of failure in new markets.
• Time consuming.
Alernative-2: Present Digital Publishing
Pros
• Sustaining customer base.
• Approaching new markets.
• Easy to present using present capabilities.
• Low threat of Failure.
• Low requirement for funds.
• Increased product portfolio offers high value to customers.
Cons
• Competition in the market by CIP, who has prior concentrate on the digital publishing.
• Shift of focus from the core service segments to the new one can lead the company to lose demand of its products in the market.
Suggestions
With the deep analysis of the internal and external environment of the business together with the market analysis and the competitor analysis, Alternative 2 is advised to CMP to attain its future development. As the preferences are moving towards digital publishing and the business require an immediate service to prevent the decreasing market growth. Introduction of digital publishing could prove to be an instant service with low quantity of risk for the business. However, the business could likewise consider the expansion program after the success of its digital publishing program.
Implementation
In order to introduce digital publishing in its item portfolio, the company must initially collects the data related to the consumer demand, the prospective markets, the government regulations and the information related to the rivals provided in the market. If the preliminary offering proves a success, the business must go for the other markets. In this method the business would be able to execute its digital publishing program.
Conclusion
Although, the development of the publishing market is decreasing given that 2008, showing a danger to the business's long term existence, however the circumstance can be managed by thinking about an advancement plan in the future. The business could consider introducing digital publishingin its existing market to implement its advancement program at immediate basis and to avoid the threat of failure for entryway in the brand-new markets.
