The Pitfalls Of Project Status Reporting Case Study Solution and Analysis
Introduction
The Pitfalls Of Project Status Reporting Case Study Help is the biggest publishing business with a greatest market share in the China's book retail market. CMP has actually become a specialized details service provider and a big thorough Science and Technology publishing business through the integration of print media, audio-visual media and the network media.
Critical Problems
Although, The Pitfalls Of Project Status Reporting Case Study Help has actually spent its 60 years journey smoothly, being a successful publishing house, however, the changing macro market patterns and forces bring certain obstacles to the publishing market in general and CMP in particular. These factors include;
• Entryway of the brand-new publishing companies in the industry.
• Decreasing growth of the publishing market.
• Market saturation.
• Intro of digital publishing techniques
• Enhancement of science and technology.
The change of the macro markets have raised several questions 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 capabilities of the company could be utilized 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 Pitfalls Of Project Status Reporting Case Study Analysis has specific strengths that can be utilized to minimize the dangers, overcome the weakness and obtain the chances. Strengths of CMP are given as follows;
• The long term experience of The Pitfalls Of Project Status Reporting Case Study Help in the publishing market i.e. 60 years permits the business to provide high quality products at a lower expense using its prior experiences.
• The technical resources and capabilities produced by its effective journey provide a competitive advantage to CMP.
• Huge item portfolioof CMP assists it to diversify its risk and provide high worth to its customers.
• Strong monetary position enables the company to consider numerous development chances without any fear of raising fund externally.
Weak points
Together with the strengths, the business has specific weaknesses which might increase restrictions for the business in executing its advancement program. The weaknesses of The Pitfalls Of Project Status Reporting Case Study Help are provided as follows;
• Despite of being a science and technology publishing firm, the business still has traditional ways ofpublishing which are not compatible with the growing technological shift.
• CMP extremely relies over the Chinese markets for its growth. It needs to propose particular expansion plans to avoid its reliance over the Chinese markets to achieve long term growth.
Opportunities
The growth of the publishing industry is declining considering that 2008, affecting The Pitfalls Of Project Status Reporting Case Study Help as well, but the development might be revived by availing particular chances 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 consumer recognition in the market.
• CMP might consider a development program through the expansion towards foreign markets in order to minimize its dependence over Chinese markets by utilizing its large financial resources.
Risks
The changing macro trends in the market and increasing competition in the publishing market has actually positioned particular risks to The Pitfalls Of Project Status Reporting Case Study Help including;( Gurel, 2017).
• Introduction of digital publishing i.e. digital libraries might cause decreasing market share of The Pitfalls Of Project Status Reporting Case Study Solution due to the customer shift towards virtual libraries.
• The presence of large number of competitors in the publishing industry increase the danger for CMP to lose its competitive position in the market, as competitors can get a strong consumer base by using particular methods like aggressive promotion, quality items, and so on
• Entryway of new publishing companies in the industry along with existence of high competition increases the threat of losing the client base.
Financial Analysis.
Due to absence of data, the financial ratios of CMP might not be calculated. It might be examined from the Appendix III that the annual total profits of The Pitfalls Of Project Status Reporting Case Study Solution during the period 2000-2012 are growing at a high growth rate, revealing that the annual demand of the products of CMP is growing and the business is quite efficient in drawing in a big number of customers at a prospective cost.
In addition to it, the 2nd graph which shows the annual growth in the The Pitfalls Of Project Status Reporting Case Study Solution overall properties, shows that the business is quite effective in adding worth to its assets through its earnings. The growth in assets reveals that the total value of the company is also increasing with increasing the total revenues. (Unidentified, 2013).
Another financial analysis of the business utilizing the provided data could be the analysis relating to the distribution of overall earnings of the business. Major part of the earnings of CMP originates from the sales of its released books i.e. 64% as shown in the Case Appendix V. The business might move towards other company sectors with a potential growth to attain its future development objective.
PESTEL Analysis
PESTEL analysis might be carried out to find out the numerous external forces impacting the efficiency of the company and the recent trends in the external environment of the company. A quick PESTEL analysis of the company is given as follows; (Alanzi, 2018).
Political.
As the publishing sector could have a significant effect on the state of mind of individuals about the communist ideology of the government, for that reason, the publishing sector is extremely monitored and guided by the Publicity Department of the Communist Celebration of China. Therefore, it might be stated that the total political forces affecting The Pitfalls Of Project Status Reporting Case Study Help business are high. The federal government policies relating to the publishing sector are likewise increasing with the passage of time.
Economical.
Financial forces impacting the publishing sector in basic and the The Pitfalls Of Project Status Reporting Case Study Help in specific includesthe rates of paper, the income level of customers, the inflation rate, and the total GDP development of the nation. All these forces combine impact the need for the publishing market. Together with it, the financial policies related to the import of books impact the total business at CPM. China's financial conditions are quite beneficial for CMP with high GDP growth and customer income level.
Social and Demographical.
The consumer choices are moving towards digital publishing rather than the standard was of publishing. In this regard, CMP ought to focus on digital publishing to meet the changing customer choices.
Technological.
Technological forces impacting the CMP include the technological development in the reading strategies etc. Improvement of science and technology together with the increase of digital publishing might lower the need for the CMP products, if certain actions would not be taken soon.
Environmental.
Environmental forces impacting The Pitfalls Of Project Status Reporting Case Study Help consists of the issues of ecological 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 should not be harmful for the environment.
Legal.
Legal regulations for the publishing sector at whole are high. The legal policies regarding the publishing sector is controlled by the General Administration of Press and Publication. Publishing Ordinance 1997 needs the publishers to be authorized first by the Federal government to be gone into in the publishing market. The ordinance forbids direct participation of foreign entities and individuals in the publishing sector.
Market Analysis (Porter's Five Forces Design).
Porter's 5 Forces Model might be used to examine the attractiveness of the publishing industry China. A brief analysis of the Porter's Five Forces is provided as follows;.
Risk of New Entrants.
Dangers of new entrants in the Chinese Publishing Industry is moderate. The possible development in the market tends to bring in new entrants to the publishing market. The existence of intense competitors and the requirement of substantial capital tends to demotivate new entrants to go into in the market.
Threat of Substitution.
Threat of Alternative is high for the Chinese Publishing Industry. The alternative products for the published files is the files presented in the virtual libraries on specific websites. The altering consumer preferences towards digital knowing increase the threat of replacement for the market.
Competitive Competition.
Competitive rivalry in the publishing industry is high. The existence of a great deal of customers in the Chinese Publishing Market like CIP, PTP and so on tends to produce high competitive rivalry for CMP. In addition to it, new entrants are likewise participating in the marketplace increasing the competition for CMP.
Bargaining Power of Supplier.
The major providers of the The Pitfalls Of Project Status Reporting Case Study Solution include the suppliers of the paper for releasing documents. As CMP is the biggest publisher in the Chinese Publishing Market, for that reason the total bargaining power of provider for CMP is low.
Bargaining Power of Buyer.
Bargaining power of purchaser in the publishing industry is high. Due to the presence of a a great deal of publishers in the Chinese market and the marketplace saturation, the purchasers needs high quality documents at competitive prices.
Rivals Analysis.
CMP operates in a highly competitive market with the existence of large number of rivals. However, the company has a competitive position in the market with the greatest market share in the Chinese publishing market. Major rivals of The Pitfalls Of Project Status Reporting Case Study Help include;.
• Chemical Market Press (CIP).
• Posts and telecommunication Press (PTP).
Chemical Market Press (CIP).
CIP acts as a hazard for CMP as it could 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 existing market scenario.
Posts and telecommunication Press (PTP).
Another close competitor of CMP is PTP. It was also founded in the very same duration as CMP and CIP. It ranks 6th in the state-owned publishers in terms of service scale. It is also among the prominent players in the publishing market with an annual overall profits of RMB 550 million in 2010.
Alternatives
Alternative-1: Broaden towards New Markets
Pros
• Decreasing reliance over the Chinese markets.
• Increasing number of Consumers
• Development opportunities.
• Avoiding the effect of market saturation in the Chinese publishing market.
Cons
• Usage of possible resources in expansion.
• Risk 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 item portfolio supplies high value to clients.
Cons
• Competitors in the market by CIP, who has prior focus on the digital publishing.
• Shift of focus from the core company sectors to the new one can lead the business to lose need of its items in the market.
Recommendations
As the choices are moving towards digital publishing and the business need an immediate service to prevent the decreasing market development. The business could also consider the expansion program after the success of its digital publishing program.
Application
In order to introduce digital publishing in its item portfolio, the business should first collects the information related to the consumer demand, the potential markets, the government guidelines and the data related to the competitors provided in the market. If the preliminary offering proves a success, the company should go for the other markets. In this method the company would be able to implement its digital publishing program.
Conclusion
The development of the publishing market is declining considering that 2008, revealing a hazard to the company's long term presence, but the scenario can be managed by thinking about a development strategy in the future. The company could think about presenting digital publishingin its existing market to implement its advancement program at instant basis and to prevent the danger of failure for entrance in the brand-new markets.
