The Ever Changing Customer Service And People Management In Hospitality Industries Case Study Solution and Analysis
Introduction
The Ever Changing Customer Service And People Management In Hospitality Industries Case Study Analysis is the biggest publishing company with a greatest market share in the China's book retail market. CMP has become a specialized details service provider and a big extensive Science and Technology publishing company through the integration of print media, audio-visual media and the network media.
Vital Problems
Although, The Ever Changing Customer Service And People Management In Hospitality Industries Case Study Analysis has actually spent its 60 years journey efficiently, being an effective publishing home, however, the altering macro market patterns and forces bring particular difficulties to the publishing market in general and CMP in specific. These factors consist of;
• Entryway of the brand-new publishing companies in the market.
• Decreasing growth of the publishing market.
• Market saturation.
• Introduction of digital publishing strategies
• Enhancement of science and technology.
The improvement of the macro markets have raised numerous 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 used to strive for the future advancement unceasingly? How could the company sustain its long term competitive position in future?
Situational Analysis
Internal Analysis
SWOT Analysis
Strengths
The Ever Changing Customer Service And People Management In Hospitality Industries Case Study Help has specific strengths that can be utilized to decrease the hazards, overcome the weakness and get the opportunities. Strengths of CMP are offered as follows;
• The long term experience of The Ever Changing Customer Service And People Management In Hospitality Industries Case Study Analysis in the publishing market i.e. 60 years allows the business to supply high quality items at a lower cost using its prior experiences.
• The technical resources and abilities produced by its successful journey offer a competitive advantage to CMP.
• Large item portfolioof CMP helps it to diversify its risk and supply high value to its clients.
• Strong financial position enables the business to consider numerous development opportunities without any worry of raising fund externally.
Weaknesses
Together with the strengths, the company has particular weak points which might increase restrictions for the business in implementing its development program. The weak points of The Ever Changing Customer Service And People Management In Hospitality Industries Case Study Analysis are provided as follows;
• Despite of being a science and innovation publishing firm, 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 growth. It should propose particular expansion plans to prevent its dependence over the Chinese markets to accomplish long term growth.
Opportunities
Although, the development of the publishing market is decreasing because 2008, affecting The Ever Changing Customer Service And People Management In Hospitality Industries Case Study Analysis too, but the development might be revived by availing specific opportunities provided in the market. The market opportunities for CMP consist of;
• The company might also introduce Digital Publishing by using its long term technical experience and a strong consumer recognition in the market.
• CMP could think about a development program through the expansion towards foreign markets in order to reduce its reliance over Chinese markets by utilizing its large financial resources.
Risks
The altering macro patterns in the market and increasing competition in the publishing industry has actually postured particular hazards to The Ever Changing Customer Service And People Management In Hospitality Industries Case Study Solution including;( Gurel, 2017).
• Introduction of digital publishing i.e. virtual libraries might result in declining market share of The Ever Changing Customer Service And People Management In Hospitality Industries Case Study Analysis due to the customer shift towards virtual libraries.
• The existence of a great deal of rivals in the publishing industry increase the hazard for CMP to lose its competitive position in the market, as competitors can get a strong customer base by using certain techniques like aggressive promo, quality items, etc.
• Entryway of brand-new publishing firms in the market along with existence of high competitors increases the threat of losing the customer base.
Monetary Analysis.
The company has a rather competitive financial efficiency. Due to absence of information, the financial ratios of CMP might not be computed. Nevertheless, the general monetary efficiency of the business might be evaluated by utilizing the graphs given up the case Appendices. It could be evaluated from the Appendix III that the annual total profits of CMP throughout the period 2000-2012 are growing at a high development rate, showing that the annual demand of the items of The Ever Changing Customer Service And People Management In Hospitality Industries Case Study Analysis is growing and the company is rather effective in bring in a a great deal of consumers at a potential price.
Together with it, the second chart which shows the annual growth in the The Ever Changing Customer Service And People Management In Hospitality Industries Case Study Analysis overall properties, shows that the company is quite efficient in adding value to its properties through its earnings. The development in possessions reveals that the overall worth of the company is also increasing with increasing the overall profits. (Unidentified, 2013).
Another monetary analysis of the company utilizing the offered data could be the analysis relating to the distribution of total incomes of the business. Huge part of the profits of CMP originates from the sales of its published books i.e. 64% as shown in the Case Appendix V. The company might move towards other organisation segments with a possible growth to achieve its future advancement goal.
PESTEL Analysis
PESTEL analysis might be carried out to discover the numerous external forces affecting the performance of the company and the recent patterns in the external environment of the business. A brief PESTEL analysis of the business is given as follows; (Alanzi, 2018).
Political.
As the publishing sector could have a significant impact on the frame of mind of individuals about the communist ideology of the federal government, for that reason, the publishing sector is extremely monitored and guided by the Promotion Department of the Communist Celebration of China. Therefore, it might be stated that the general political forces impacting The Ever Changing Customer Service And People Management In Hospitality Industries Case Study Solution business are high. The government policies regarding the publishing sector are also increasing with the passage of time.
Economical.
Economic forces impacting the publishing sector in general and the The Ever Changing Customer Service And People Management In Hospitality Industries Case Study Solution in particular includesthe prices of paper, the income level of consumers, the inflation rate, and the overall GDP growth of the nation. All these forces integrate impact the need for the publishing market. Together with it, the financial policies related to the import of books affect the total business at CPM. Nevertheless, China's economic conditions are quite favorable for CMP with high GDP growth and customer earnings level.
Social and Demographical.
Social and demographical forces consist of the population growth, the consumer's choices towards reading useful products etc. China has the highest population in the world with a high population growth, revealing the increasing number of consumers of the The Ever Changing Customer Service And People Management In Hospitality Industries Case Study Analysis. The customer preferences are moving towards digital publishing rather than the standard was of publishing. In this regard, CMP should focus on digital publishing to meet the altering customer choices.
Technological.
Technological forces affecting the CMP include the technological improvement in the reading strategies etc. Enhancement of science and innovation along with the rise of digital publishing might minimize the need for the CMP items, if particular actions would not be taken soon.
Environmental.
Environmental forces affecting The Ever Changing Customer Service And People Management In Hospitality Industries Case Study Analysis consists of the issues of ecological neighborhoods over the use of paper in publishing books. The paper utilized in the books while publishing is needed to be disposable and the ink used while publishing must not be hazardous for the environment.
Legal.
Legal policies for the publishing sector at whole are high. Publishing Ordinance 1997 requires the publishers to be approved initially by the Federal government to be gone into in the publishing market.
Industry Analysis (Porter's Five Forces Design).
Porter's 5 Forces Design might be used to examine the attractiveness of the publishing industry China. A short analysis of the Porter's 5 Forces is offered as follows;.
Danger of New Entrants.
Risks of new entrants in the Chinese Publishing Market is moderate. The potential growth in the industry tends to draw in new entrants to the publishing market. The existence of intense competition and the requirement of huge capital tends to demotivate new entrants to go into in the market.
Risk of Substitution.
Risk of Alternative is high for the Chinese Publishing Industry. The substitute products for the published files is the files provided in the virtual libraries on certain sites. The changing consumer choices towards digital knowing increase the danger of substitution for the market.
Competitive Competition.
Competitive rivalry in the publishing market is high. The presence of large number of customers in the Chinese Publishing Industry like CIP, PTP and so on tends to produce high competitive competition for CMP. Together with it, new entrants are also participating in the market increasing the competition for CMP.
Bargaining Power of Provider.
The major suppliers of the The Ever Changing Customer Service And People Management In Hospitality Industries Case Study Solution include the suppliers of the paper for publishing documents. As CMP is the biggest publisher in the Chinese Publishing Market, therefore the overall bargaining power of provider for CMP is low.
Bargaining Power of Buyer.
Bargaining power of buyer in the publishing industry is high. Due to the presence of a a great deal of publishers in the Chinese market and the market saturation, the buyers needs high quality files at competitive prices.
Competitors Analysis.
CMP operates in an extremely competitive industry with the presence of a great deal of competitors. However, the company has a competitive position in the market with the highest market share in the Chinese publishing market. Significant rivals of The Ever Changing Customer Service And People Management In Hospitality Industries Case Study Help include;.
• Chemical Market 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 might wean the market share of CMP easily in the current market situation.
Posts and telecommunication Press (PTP).
Another close rival of CMP is PTP. It was also founded in the very same duration as CMP and CIP. It ranks sixth in the state-owned publishers in terms of business scale. It is also one of the prominent players in the publishing market with an annual total revenues of RMB 550 million in 2010.
Alternatives
Alternative-1: Expand towards New Markets
Pros
• Decreasing reliance over the Chinese markets.
• Increasing number of Clients
• Development opportunities.
• Avoiding the impact of market saturation in the Chinese publishing industry.
Cons
• Use of possible resources in growth.
• Danger of failure in brand-new markets.
• Time consuming.
Alernative-2: Introduce Digital Publishing
Pros
• Sustaining customer base.
• Approaching brand-new markets.
• Easy to present using present abilities.
• Low risk of Failure.
• Low requirement for funds.
• Increased product portfolio offers high value to clients.
Cons
• Competition in the market by CIP, who has prior focus on the digital publishing.
• Shift of focus from the core service sections to the brand-new one can lead the company to lose need of its products in the market.
Recommendations
As the choices are moving towards digital publishing and the company need an immediate service to avoid the decreasing industry development. The business could also consider the expansion program after the success of its digital publishing program.
Execution
In order to introduce digital publishing in its product portfolio, the business needs to initially collects the data related to the customer demand, the possible markets, the federal government guidelines and the information related to the rivals presented in the market. If the initial offering proves a success, the business needs to go for the other markets. In this method the company would be able to execute its digital publishing program.
Conclusion
The growth of the publishing market is decreasing given that 2008, revealing a danger to the company's long term presence, however the situation can be controlled by thinking about a development plan in the future. The company could consider introducing digital publishingin its existing market to execute its development program at immediate basis and to avoid the danger of failure for entrance in the new markets.
