Technical Writing Case Study Solution and Analysis
Technical Writing Case Study Solution is the biggest publishing business with a greatest market share in the China's book retail market. CMP has become a specialized info supplier and a big comprehensive Science and Innovation publishing business through the combination of print media, audio-visual media and the network media.
Although, Technical Writing Case Study Solution has actually spent its 60 years journey efficiently, being an effective publishing home, however, the altering macro market trends and forces bring particular challenges to the publishing industry in basic and CMP in particular. These factors consist of;
• Entrance of the new publishing companies in the market.
• Decreasing development of the publishing market.
• Market saturation.
• Introduction of digital publishing methods
• Enhancement of science and technology.
The transformation of the macro markets have raised numerous questions to the management at CPM that what could be the future of CMP in this situation? Do the long important experience, technical resources and the capabilities of the company could be used to pursue the future development unceasingly? How could the business sustain its long term competitive position in future?
Technical Writing Case Study Solution has specific strengths that can be used to lower the threats, overcome the weakness and get the chances. Strengths of CMP are given as follows;
• The long term experience of Technical Writing Case Study Analysis in the publishing market i.e. 60 years enables the business to offer high quality items at a lower expense using its prior experiences.
• The technical resources and capabilities produced by its successful journey offer a competitive benefit to CMP.
• Vast product portfolioof CMP helps it to diversify its danger and provide high value to its consumers.
• Strong monetary position permits the company to think about a number of development chances without any fear of raising fund externally.
Along with the strengths, the business has particular weaknesses which could increase restraints for the company in executing its development program. The weaknesses of Technical Writing Case Study Help are given as follows;
• Despite of being a science and innovation publishing firm, the company still has standard ways ofpublishing which are not compatible with the growing technological shift.
• CMP extremely relies over the Chinese markets for its development. It should propose particular expansion strategies to prevent its reliance over the Chinese markets to achieve long term development.
Although, the growth of the publishing industry is declining given that 2008, impacting Technical Writing Case Study Solution also, however the growth might be revived by availing particular chances provided in the market. The marketplace chances for CMP include;
• The company might likewise present Digital Publishing by utilizing its long term technical experience and a strong consumer recognition in the market.
• CMP could think about an advancement program through the growth towards foreign markets in order to lower its reliance over Chinese markets by utilizing its vast financial resources.
The changing macro patterns in the market and increasing competition in the publishing industry has actually positioned certain dangers to Technical Writing Case Study Help including;( Gurel, 2017).
• Intro of digital publishing i.e. digital libraries could result in decreasing market share of Technical Writing Case Study Help due to the consumer shift towards digital libraries.
• The existence of large number of competitors in the publishing industry increase the risk for CMP to lose its competitive position in the market, as rivals can get a strong consumer base by using certain strategies like aggressive promotion, quality products, and so on
• Entrance of brand-new publishing firms in the market in addition to existence of high competition increases the hazard of losing the consumer base.
The company has a rather competitive financial performance. Due to lack of data, the monetary ratios of CMP could not be computed. The overall monetary performance of the company might be examined by utilizing the charts provided in the case Appendices. It could be examined from the Appendix III that the yearly overall revenues of CMP during the period 2000-2012 are growing at a high development rate, showing that the annual need of the products of Technical Writing Case Study Help is growing and the company is quite efficient in drawing in a large number of clients at a prospective rate.
Along with it, the 2nd chart which shows the yearly growth in the Technical Writing Case Study Solution overall possessions, reveals that the company is quite efficient in adding value to its possessions through its incomes. The development in properties reveals that the overall worth of the firm is also increasing with increasing the overall incomes. (Unknown, 2013).
Another financial analysis of the business utilizing the given information could be the analysis relating to the circulation of total revenues of the company. Huge part of the incomes of CMP comes from the sales of its released books i.e. 64% as shown in the Case Appendix V. The business could move towards other company sectors with a potential development to accomplish its future development goal.
PESTEL analysis could be conducted to discover the numerous external forces impacting the efficiency of the company and the recent patterns in the external environment of the business. A brief PESTEL analysis of the company is provided as follows; (Alanzi, 2018).
As the publishing sector might have a significant effect on the state of mind of the people about the communist ideology of the government, therefore, the publishing sector is highly monitored and guided by the Promotion Department of the Communist Celebration of China. Therefore, it could be stated that the general political forces affecting Technical Writing Case Study Help business are high. The federal government policies regarding the publishing sector are also increasing with the passage of time.
Financial forces affecting the publishing sector in basic and the CMP in specific includesthe rates of paper, the income level of customers, the inflation rate, and the general GDP growth of the country. All these forces integrate effect the demand for the publishing market.
Social and Demographical.
Social and demographical forces include the population development, the customer's choices towards checking out informative products and so on. China has the highest population in the world with a high population growth, showing the increasing number of consumers of the Technical Writing Case Study Analysis. Nevertheless, the customer preferences are shifting towards digital publishing rather than the conventional was of publishing. In this regard, CMP ought to concentrate on digital publishing to meet the altering customer choices.
Technological forces affecting the CMP consist of the technological advancement in the reading strategies etc. Improvement of science and innovation in addition to the increase of digital publishing might lower the demand for the CMP items, if particular actions would not be taken soon.
Ecological forces affecting Technical Writing Case Study Analysis includes the concerns of environmental neighborhoods over the usage of paper in publishing books. The paper utilized in the books while publishing is needed to be disposable and the ink utilized while publishing needs to not be harmful for the environment.
Legal policies for the publishing sector at whole are high. Publishing Regulation 1997 requires the publishers to be authorized first by the Federal government to be gone into in the publishing market.
Market Analysis (Porter's 5 Forces Model).
Porter's Five Forces Design could be utilized to examine the appearance of the publishing industry China. A brief analysis of the Porter's Five Forces is given as follows;.
Threat of New Entrants.
Risks of brand-new entrants in the Chinese Publishing Industry is moderate. The possible development in the industry tends to attract new entrants to the publishing market. Nevertheless, the existence of intense competitors and the requirement of huge capital tends to demotivate new entrants to go into in the market.
Danger of Alternative.
Threat of Substitution is high for the Chinese Publishing Market. The replacement items for the released files is the documents provided in the digital libraries on specific sites. The changing consumer choices towards digital learning increase the hazard of substitution for the industry.
Competitive competition in the publishing market is high. The existence of large number of consumers in the Chinese Publishing Market like CIP, PTP and so on tends to produce high competitive competition for CMP. Together with it, new entrants are also entering into the market increasing the competition for CMP.
Bargaining Power of Provider.
The major suppliers of the Technical Writing Case Study Help consist of the providers of the paper for publishing documents. As CMP is the largest publisher in the Chinese Publishing Market, therefore the total bargaining power of provider for CMP is low.
Bargaining Power of Buyer.
Negotiating power of buyer in the publishing market is high. Due to the presence of a large number of publishers in the Chinese market and the marketplace saturation, the buyers requires high quality documents at competitive prices.
CMP operates in a highly competitive industry with the presence of a great deal of competitors. The company has a competitive position in the market with the greatest market share in the Chinese publishing market. Major rivals of Technical Writing Case Study Help include;.
• Chemical Industry Press (CIP).
• Posts and telecommunication Press (PTP).
Chemical Industry Press (CIP).
CIP acts as a risk for CMP as it might 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 also established in the exact same period as Technical Writing Case Study Help and CIP. It is also one of the popular players in the publishing industry with an annual overall incomes of RMB 550 million in 2010.
Alternative-1: Expand towards New Markets
• Lowering reliance over the Chinese markets.
• Increasing number of Clients
• Development chances.
• Preventing the impact of market saturation in the Chinese publishing market.
• Use of prospective resources in expansion.
• Risk of failure in new markets.
• Time consuming.
Alernative-2: Introduce Digital Publishing
• Sustaining customer base.
• Approaching brand-new markets.
• Easy to introduce utilizing existing abilities.
• Low threat of Failure.
• Low requirement for funds.
• Increased product portfolio offers high value to consumers.
• Competition in the market by CIP, who has prior concentrate on the digital publishing.
• Shift of focus from the core business sectors to the brand-new one can lead the business to lose need of its products in the market.
With the deep analysis of the external and internal environment of the business in addition to the market analysis and the rival analysis, Alternative 2 is suggested to CMP to accomplish its future advancement. As the choices are shifting towards digital publishing and the company need an instant solution to prevent the decreasing industry growth. Therefore, intro of digital publishing could show to be an immediate service with low quantity of risk for the company. The business might also think about the growth program after the success of its digital publishing program.
In order to present digital publishing in its product portfolio, the company should initially collects the data related to the customer demand, the possible markets, the federal government guidelines and the data related to the competitors presented in the market. After that, the company should decide one potential section for its preliminary offering. It ought to collect research that how it might distinguish its digital publishing from the existing rivals' products. After all the actions above the business should go for the initial offering. The business needs to go for the other markets if the initial offering shows a success. In this method the business would have the ability to implement its digital publishing program.
Although, the growth of the publishing market is declining since 2008, revealing a danger to the company's long term presence, however the scenario can be controlled by thinking about an advancement strategy in the future. The company might think about presenting digital publishingin its existing market to implement its advancement program at immediate basis and to avoid the risk of failure for entrance in the brand-new markets.