The Managers Job At Bp Decision Making And Responsibilities On The High Seas Case Study Solution and Analysis
Introduction
The Managers Job At Bp Decision Making And Responsibilities On The High Seas Case Study Solution is the largest publishing business with a greatest market share in the China's book retail market. CMP offers a variety of services consisting of; gathering details, processing info and communication services. Major company sectors of the company include; books, regulars, consultancy and circulation. The business has a large product portfolio and its major products consist of books, periodicals, online media, exhibitions, research reports etc. The Managers Job At Bp Decision Making And Responsibilities On The High Seas Case Study Solution has actually ended up being a specialized info supplier and a big thorough Science and Innovation publishing company through the integration of print media, audio-visual media and the network media.
Important Problems
Although, The Managers Job At Bp Decision Making And Responsibilities On The High Seas Case Study Analysis has spent its 60 years journey smoothly, being a successful publishing house, however, the changing macro market patterns and forces bring particular challenges to the publishing industry in general and CMP in specific. These elements consist of;
• Entrance of the new publishing firms in the market.
• Decreasing growth of the publishing market.
• Market saturation.
• Intro of digital publishing techniques
• Improvement of science and technology.
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 scenario? Do the long valuable experience, technical resources and the abilities of the company 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 Managers Job At Bp Decision Making And Responsibilities On The High Seas Case Study Help has certain strengths that can be utilized to decrease the dangers, get rid of the weak point and avail the chances. Strengths of CMP are offered as follows;
• The long term experience of The Managers Job At Bp Decision Making And Responsibilities On The High Seas Case Study Help 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 created by its effective journey provide a competitive advantage to CMP.
• Vast item portfolioof CMP assists it to diversify its danger and offer high value to its consumers.
• Strong monetary position permits the business to consider several advancement opportunities without any fear of raising fund externally.
Weak points
Along with the strengths, the company has specific weak points which might increase restrictions for the business in implementing its development program. The weaknesses of The Managers Job At Bp Decision Making And Responsibilities On The High Seas Case Study Solution are given as follows;
• Despite of being a science and technology publishing firm, the business still has traditional ways ofpublishing which are not suitable with the growing technological shift.
• CMP extremely relies over the Chinese markets for its growth. It needs to propose particular expansion strategies to prevent its reliance over the Chinese markets to attain long term growth.
Opportunities
The growth of the publishing industry is declining since 2008, impacting The Managers Job At Bp Decision Making And Responsibilities On The High Seas Case Study Analysis as well, however the development might be restored by availing certain opportunities presented in the market. The market opportunities for CMP consist of;
• The business could also 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 expansion towards foreign markets in order to lower its dependence over Chinese markets by utilizing its huge funds.
Dangers
The altering macro trends in the market and increasing competitors in the publishing industry has posed specific threats to The Managers Job At Bp Decision Making And Responsibilities On The High Seas Case Study Analysis including;( Gurel, 2017).
• Intro of digital publishing i.e. digital libraries might cause declining market share of The Managers Job At Bp Decision Making And Responsibilities On The High Seas Case Study Analysis due to the consumer shift towards digital libraries.
• The existence of a great deal of rivals in the publishing industry increase the threat for CMP to lose its competitive position in the market, as competitors can acquire a strong consumer base by using particular techniques like aggressive promotion, quality items, and so on
• Entryway of brand-new publishing companies in the industry in addition to presence of high competition increases the danger of losing the client base.
Financial Analysis.
Due to absence of data, the financial ratios of CMP could not be computed. It could be examined from the Appendix III that the yearly total earnings of The Managers Job At Bp Decision Making And Responsibilities On The High Seas Case Study Analysis throughout the period 2000-2012 are growing at a high development rate, revealing that the annual demand of the products of CMP is growing and the business is rather efficient in bring in a large number of clients at a prospective cost.
Together with it, the 2nd chart which shows the annual growth in the The Managers Job At Bp Decision Making And Responsibilities On The High Seas Case Study Help overall possessions, reveals that the business is quite efficient in adding value to its properties through its revenues. The growth in possessions reveals that the total value of the company is also increasing with increasing the total profits. (Unidentified, 2013).
Another monetary analysis of the company utilizing the provided information might be the analysis relating to the circulation of total incomes of the business. Major 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 company could move towards other service segments with a potential development to accomplish its future development goal.
PESTEL Analysis
PESTEL analysis might be conducted to find out the various external forces affecting the performance of the business and the recent trends in the external environment of the business. A short PESTEL analysis of the company is offered as follows; (Alanzi, 2018).
Political.
As the publishing sector might have a significant impact on the mindset of individuals about the communist ideology of the government, for that reason, the publishing sector is highly monitored and assisted by the Publicity Department of the Communist Party of China. Therefore, it could be said that the overall political forces affecting The Managers Job At Bp Decision Making And Responsibilities On The High Seas Case Study Help business are high. The government policies regarding the publishing sector are also increasing with the passage of time.
Affordable.
Economic forces impacting the publishing sector in basic and the The Managers Job At Bp Decision Making And Responsibilities On The High Seas Case Study Help in specific includesthe prices of paper, the income level of customers, the inflation rate, and the general GDP growth of the nation. All these forces integrate effect the need for the publishing market. Along with it, the financial policies related to the import of books affect the overall organisation at CPM. However, China's financial conditions are quite beneficial for CMP with high GDP development and consumer income level.
Social and Demographical.
Social and demographical forces include the population growth, the consumer's preferences towards checking out helpful materials etc. China has the greatest population in the world with a high population development, showing the increasing variety of customers of the The Managers Job At Bp Decision Making And Responsibilities On The High Seas Case Study Help. Nevertheless, the consumer preferences are moving towards digital publishing instead of the standard was of publishing. In this regard, CMP must focus on digital publishing to fulfill the altering consumer preferences.
Technological.
Technological forces affecting the CMP include the technological improvement in the reading techniques etc. Enhancement of science and technology in addition to the increase of digital publishing might minimize the demand for the CMP products, if particular actions would not be taken soon.
Environmental.
Environmental forces affecting The Managers Job At Bp Decision Making And Responsibilities On The High Seas Case Study Solution includes the issues of environmental 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 utilized while publishing needs to not be harmful for the environment.
Legal.
Legal guidelines for the publishing sector at whole are high. The legal policies relating to the publishing sector is managed by the General Administration of Press and Publication. Publishing Regulation 1997 needs the publishers to be authorized initially by the Government to be gone into in the publishing market. The regulation prohibits direct participation of foreign entities and individuals in the publishing sector.
Industry Analysis (Porter's Five Forces Design).
Porter's 5 Forces Design could be utilized to analyze the appearance of the publishing industry China. A brief analysis of the Porter's 5 Forces is provided as follows;.
Danger of New Entrants.
Threats of new entrants in the Chinese Publishing Industry is moderate. The prospective growth in the market tends to bring in brand-new entrants to the publishing market. The presence of extreme competitors and the requirement of big capital tends to demotivate brand-new entrants to go into in the market.
Hazard of Alternative.
Risk of Replacement is high for the Chinese Publishing Market. The substitute products for the published documents is the documents presented in the digital libraries on certain sites. The changing customer choices towards digital knowing increase the risk of substitution for the market.
Competitive Competition.
Competitive rivalry in the publishing industry 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. Together with it, new entrants are likewise participating in the market increasing the competitors for CMP.
Bargaining Power of Provider.
The major suppliers of the The Managers Job At Bp Decision Making And Responsibilities On The High Seas Case Study Help 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 provider for CMP is low.
Bargaining Power of Purchaser.
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 needs high quality files at competitive prices.
Competitors Analysis.
CMP operates in a highly competitive industry 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 The Managers Job At Bp Decision Making And Responsibilities On The High Seas Case Study Analysis include;.
• Chemical Industry Press (CIP).
• Posts and telecommunication Press (PTP).
Chemical Industry Press (CIP).
CIPis one of the close rivals of CMP. Founded in the exact same duration, CIP publishes comparable kind of books. For a big period, CIP held the biggest market share, and still ranks 2nd and 3rd in numerous market segments, with a significant focus on instructional publications. CIP acts as a threat for CMP as it could wean its market share due to its long term competitive background. CIP is focused on digital publishing and could wean the market share of The Managers Job At Bp Decision Making And Responsibilities On The High Seas Case Study Analysis quickly in the existing market situation.
Posts and telecommunication Press (PTP).
Another close rival of CMP is PTP. It was also founded in the very same period as CMP and CIP. It ranks 6th in the state-owned publishers in terms of service scale. It is likewise among the popular players in the publishing market with an annual overall profits of RMB 550 million in 2010.
Alternatives
Alternative-1: Expand towards New Markets
Pros
• Decreasing reliance over the Chinese markets.
• Increasing number of Clients
• Growth opportunities.
• Avoiding the impact of market saturation in the Chinese publishing industry.
Cons
• Use of possible resources in growth.
• Risk of failure in brand-new markets.
• Time consuming.
Alernative-2: Present Digital Publishing
Pros
• Sustaining consumer base.
• Approaching new markets.
• Easy to present using present abilities.
• Low threat of Failure.
• Low requirement for funds.
• Increased item portfolio provides 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 brand-new one can lead the company to lose need of its products in the market.
Recommendations
With the deep analysis of the internal and external environment of the business along with the market analysis and the competitor analysis, Alternative 2 is recommended to CMP to attain its future development. As the choices are shifting towards digital publishing and the company require an instant option to avoid the decreasing market development. Introduction of digital publishing might prove to be an immediate solution with low quantity of danger for the business. However, the business might 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 should first gathers the data connected to the customer need, the prospective markets, the government guidelines and the information associated with the rivals provided in the market. After that, the business must choose one prospective sector for its preliminary offering. It ought to collect research study that how it could distinguish its digital publishing from the existing rivals' products. The actions above the company must go for the initial offering. The business ought to go for the other markets if the initial offering shows a success. In this method the business would have the ability to execute its digital publishing program.
Conclusion
Although, the development of the publishing industry is declining given that 2008, showing a risk to the business's long term existence, however the circumstance can be controlled by considering a development strategy in the future. The business could consider introducing digital publishingin its existing market to execute its development program at immediate basis and to avoid the risk of failure for entrance in the brand-new markets.
