Technical Writing Case Study Solution and Analysis
Intro
Technical Writing Case Study Analysis is the largest publishing company with a greatest market share in the China's book retail market. CMP provides a variety of services including; gathering info, processing info and interaction services. Significant company sectors of the company include; books, periodicals, consultancy and distribution. The business has a huge item portfolio and its major products include books, regulars, online media, exhibitions, research study reports etc. Technical Writing Case Study Solution has ended up being a specialized info service provider and a large thorough Science and Technology publishing company through the integration of print media, audio-visual media and the network media.
Critical Issues
Although, Technical Writing Case Study Solution has spent its 60 years journey efficiently, being an effective publishing home, nevertheless, the changing macro market patterns and forces bring specific obstacles to the publishing market in general and CMP in specific. These aspects include;
• Entrance of the new publishing companies in the industry.
• Decreasing development of the publishing market.
• Market saturation.
• Introduction of digital publishing strategies
• Improvement of science and technology.
The transformation of the macro markets have raised several concerns 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 company could be used 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
Technical Writing Case Study Help has specific strengths that can be utilized to lower the dangers, get rid of the weak point and obtain the opportunities. 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 allows the business to offer high quality items at a lower cost utilizing its prior experiences.
• The technical resources and abilities generated by its successful journey offer a competitive benefit to CMP.
• Large item portfolioof CMP assists it to diversify its risk and provide high value to its customers.
• Strong financial position permits the company to consider a number of development chances with no fear of raising fund externally.
Weak points
Along with the strengths, the business has particular weaknesses which could increase constraints for the company in executing its development program. The weak points of Technical Writing Case Study Solution are given as follows;
• Despite of being a science and technology publishing company, the company still has traditional methods ofpublishing which are not compatible with the growing technological shift.
• CMP highly relies over the Chinese markets for its development. It needs to propose specific growth plans to prevent its reliance over the Chinese markets to attain long term development.
Opportunities
Although, the development of the publishing industry is decreasing because 2008, impacting Technical Writing Case Study Solution as well, but the growth might be revived by availing particular opportunities presented in the market. The marketplace chances for CMP consist of;
• The business might likewise 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 minimize its dependence over Chinese markets by using its huge funds.
Hazards
The altering macro trends in the market and increasing competition in the publishing industry has positioned specific threats to Technical Writing Case Study Solution consisting of;( Gurel, 2017).
• Intro of digital publishing i.e. virtual libraries might result in decreasing market share of Technical Writing Case Study Help due to the customer shift towards virtual libraries.
• The existence of a great deal of rivals in the publishing market increase the risk for CMP to lose its competitive position in the market, as rivals can get a strong consumer base by utilizing particular strategies like aggressive promotion, quality items, etc.
• Entrance of new publishing firms in the industry in addition to presence of high competitors increases the danger of losing the client base.
Financial Analysis.
Due to absence of information, the financial ratios of CMP could not be determined. It might be analyzed from the Appendix III that the yearly total profits of Technical Writing Case Study Solution during the period 2000-2012 are growing at a high development rate, revealing that the yearly need of the items of CMP is growing and the company is quite efficient in attracting a big number of customers at a possible rate.
Along with it, the 2nd graph which shows the annual growth in the Technical Writing Case Study Solution overall possessions, reveals that the business is quite effective in including value to its possessions through its earnings. The growth in properties shows that the overall value of the company is also increasing with increasing the overall incomes. (Unknown, 2013).
Another financial analysis of the company using the provided data could be the analysis regarding the distribution of overall earnings of the business. Major part of the earnings of CMP comes from the sales of its released books i.e. 64% as displayed in the Case Appendix V. The company could move towards other organisation sections with a possible growth to attain its future development objective.
PESTEL Analysis
PESTEL analysis might be performed to find out the numerous external forces affecting the performance of the business and the recent trends in the external environment of the company. A quick PESTEL analysis of the business is provided as follows; (Alanzi, 2018).
Political.
As the publishing sector could have a considerable effect on the frame of mind of individuals about the communist ideology of the government, therefore, the publishing sector is highly monitored and assisted by the Publicity Department of the Communist Celebration of China. It might be said that the general political forces impacting CMP service are high. The federal government policies concerning 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 specific includesthe costs of paper, the income level of consumers, the inflation rate, and the general GDP growth of the nation. All these forces integrate effect the demand 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 must focus on digital publishing to fulfill the altering customer preferences.
Technological.
Technological forces affecting the CMP consist of the technological development in the reading techniques and so on. Improvement of science and technology along with the rise of digital publishing could minimize the need for the CMP items, if specific actions would not be taken soon.
Environmental.
Ecological forces affecting Technical Writing Case Study Help includes the concerns of ecological neighborhoods 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 hazardous for the environment.
Legal.
Legal regulations for the publishing sector at whole are high. Publishing Regulation 1997 requires the publishers to be authorized initially by the Government to be entered in the publishing market.
Industry Analysis (Porter's Five Forces Model).
Porter's 5 Forces Design might be utilized to evaluate the beauty of the publishing industry China. A quick analysis of the Porter's Five Forces is provided as follows;.
Threat of New Entrants.
Dangers of brand-new entrants in the Chinese Publishing Market is moderate. The prospective growth in the market tends to draw in brand-new entrants to the publishing industry. However, the existence of extreme competition and the requirement of big capital tends to demotivate new entrants to go into in the marketplace.
Danger of Alternative.
Hazard of Substitution is high for the Chinese Publishing Market. The substitute items for the published files is the files provided in the virtual libraries on particular websites. The altering consumer preferences towards digital learning increase the threat of replacement for the market.
Competitive Competition.
Competitive competition in the publishing market is high. The presence of large number of customers in the Chinese Publishing Industry like CIP, PTP etc. tends to produce high competitive rivalry for CMP. In addition to it, new entrants are likewise entering into the market increasing the competitors for CMP.
Bargaining Power of Supplier.
The major providers of the Technical Writing Case Study Solution include the providers of the paper for releasing documents. As CMP is the largest publisher in the Chinese Publishing Market, therefore the general bargaining power of supplier for CMP is low.
Bargaining Power of Buyer.
Haggling power of buyer in the publishing industry is high. Due to the existence of a a great deal of publishers in the Chinese market and the market saturation, the purchasers requires high quality files at competitive costs.
Competitors Analysis.
CMP operates in a highly competitive market with the existence of large number of rivals. However, the business 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).
CIPis one of the close competitors of CMP. Established in the exact same period, CIP releases comparable type of books. For a large time period, CIP held the largest market share, and still ranks 2nd and 3rd in numerous market sectors, with a significant focus on academic publications. 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 marketplace share of Technical Writing Case Study Analysis quickly in the present market situation.
Posts and telecommunication Press (PTP).
It was likewise founded in the exact same period as Technical Writing Case Study Help and CIP. It is likewise one of the popular players in the publishing market with an annual overall earnings of RMB 550 million in 2010.
Alternatives
Alternative-1: Expand towards New Markets
Pros
• Minimizing dependence over the Chinese markets.
• Increasing number of Clients
• Development opportunities.
• Avoiding the effect of market saturation in the Chinese publishing industry.
Cons
• Usage of possible resources in expansion.
• Danger of failure in new markets.
• Time consuming.
Alernative-2: Present Digital Publishing
Pros
• Sustaining consumer base.
• Approaching brand-new markets.
• Easy to present using existing capabilities.
• Low threat of Failure.
• Low requirement for funds.
• Increased product portfolio offers high worth to clients.
Cons
• Competitors in the market by CIP, who has prior focus on the digital publishing.
• Shift of focus from the core organisation sectors to the brand-new one can lead the company to lose demand of its items in the market.
Recommendations
As the choices are moving towards digital publishing and the business require an instant service to avoid the decreasing market growth. The company could also consider the expansion program after the success of its digital publishing program.
Application
In order to introduce digital publishing in its product portfolio, the business must first collects the information related to the customer demand, the prospective markets, the government policies and the data related to the rivals presented in the market. After that, the business must decide one prospective sector for its initial offering. It ought to gather research that how it could distinguish its digital publishing from the existing competitors' products. The actions above the company should go for the initial offering. If the preliminary offering proves a success, the company ought to opt for the other markets. In this way the business would have the ability to execute its digital publishing program.
Conclusion
Although, the growth of the publishing market is decreasing considering that 2008, revealing a hazard to the business's long term existence, however the circumstance can be controlled by thinking about an advancement strategy in the future. The business might think about introducing digital publishingin its existing market to execute its development program at instant basis and to prevent the threat of failure for entrance in the brand-new markets.
