The Use Of Social Media Marketing And New Technologies In Human Resource Case Study Solution and Analysis
The Use Of Social Media Marketing And New Technologies In Human Resource Case Study Analysis is the largest publishing business with a highest market share in the China's book retail market. CMP has actually become a specialized information company and a big thorough Science and Innovation publishing business through the integration of print media, audio-visual media and the network media.
CMP has invested its 60 years journey efficiently, being an effective publishing house, nevertheless, the altering macro market trends and forces bring certain obstacles to the publishing market in basic and The Use Of Social Media Marketing And New Technologies In Human Resource Case Study Analysis in specific. These factors include;
• Entrance of the new publishing companies in the market.
• Declining growth of the publishing market.
• Market saturation.
• Introduction of digital publishing methods
• Enhancement of science and technology.
The transformation of the macro markets have raised a number of 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 company could be used to pursue the future development unceasingly? How could the business sustain its long term competitive position in future?
The Use Of Social Media Marketing And New Technologies In Human Resource Case Study Help has specific strengths that can be utilized to reduce the hazards, conquer the weakness and get the chances. Strengths of CMP are offered as follows;
• The long term experience of The Use Of Social Media Marketing And New Technologies In Human Resource Case Study Analysis in the publishing market i.e. 60 years permits the business to provide high quality items at a lower expense utilizing its prior experiences.
• The technical resources and capabilities produced by its effective journey supply a competitive advantage to CMP.
• Large item portfolioof CMP assists it to diversify its danger and offer high value to its customers.
• Strong financial position permits the business to think about several development opportunities with no fear of raising fund externally.
Along with the strengths, the business has specific weak points which could increase restrictions for the company in implementing its advancement program. The weak points of The Use Of Social Media Marketing And New Technologies In Human Resource Case Study Help are given as follows;
• Despite of being a science and technology publishing firm, the business 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 ought to propose certain expansion plans to prevent its dependence over the Chinese markets to achieve long term growth.
The growth of the publishing market is decreasing since 2008, affecting The Use Of Social Media Marketing And New Technologies In Human Resource Case Study Solution as well, but the growth could be revived by availing specific chances provided in the market. The marketplace chances for CMP include;
• The business might also introduce Digital Publishing by using its long term technical experience and a strong consumer recognition in the market.
• CMP could consider an advancement program through the growth towards foreign markets in order to minimize its reliance over Chinese markets by utilizing its large financial resources.
The altering macro patterns in the market and increasing competitors in the publishing market has actually positioned particular dangers to The Use Of Social Media Marketing And New Technologies In Human Resource Case Study Analysis including;( Gurel, 2017).
• Introduction of digital publishing i.e. virtual libraries could result in declining market share of The Use Of Social Media Marketing And New Technologies In Human Resource Case Study Help due to the customer shift towards virtual libraries.
• The existence of large number of competitors in the publishing market increase the risk for CMP to lose its competitive position in the market, as competitors can get a strong consumer base by using specific techniques like aggressive promotion, quality products, etc.
• Entryway of brand-new publishing firms in the industry along with presence of high competition increases the threat of losing the customer base.
Due to lack of information, the financial ratios of CMP could not be computed. It could be examined from the Appendix III that the annual overall revenues of The Use Of Social Media Marketing And New Technologies In Human Resource Case Study Help during the period 2000-2012 are growing at a high development rate, showing that the yearly need of the items of CMP is growing and the business is quite efficient in bring in a big number of consumers at a prospective cost.
Together with it, the 2nd graph which shows the yearly development in the The Use Of Social Media Marketing And New Technologies In Human Resource Case Study Solution total possessions, reveals that the company is rather efficient in including worth to its properties through its profits. The growth in possessions shows that the overall value of the firm is also increasing with increasing the total earnings. (Unknown, 2013).
Another financial analysis of the business using the given data could be the analysis regarding the distribution of total incomes of the business. Huge part of the revenues of CMP originates from the sales of its released books i.e. 64% as shown in the Case Appendix V. The company might move towards other business sections with a prospective development to achieve its future development goal.
PESTEL analysis might be carried out to find out the different external forces affecting the performance of the business and the current trends 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 considerable impact on the state of mind of individuals about the communist ideology of the federal government, therefore, the publishing sector is extremely monitored and directed by the Publicity Department of the Communist Party of China. It might be stated that the general political forces affecting CMP service are high. The federal government policies concerning the publishing sector are also increasing with the passage of time.
Financial forces affecting the publishing sector in basic and the CMP in particular includesthe rates of paper, the earnings level of consumers, the inflation rate, and the total GDP development of the country. All these forces integrate impact the need for the publishing market.
Social and Demographical.
The customer preferences are shifting towards digital publishing rather than the traditional was of publishing. In this regard, CMP should focus on digital publishing to fulfill the changing consumer choices.
Technological forces affecting the CMP consist of the technological development in the reading strategies etc. Enhancement of science and innovation along with the rise of digital publishing might minimize the demand for the CMP products, if particular actions would not be taken quickly.
Ecological forces affecting The Use Of Social Media Marketing And New Technologies In Human Resource Case Study Solution includes the concerns of ecological communities over the usage 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 must not be harmful for the environment.
Legal regulations for the publishing sector at whole are high. The legal guidelines concerning the publishing sector is managed by the General Administration of Press and Publication. Publishing Regulation 1997 needs the publishers to be authorized first by the Federal government to be entered in the publishing market. The ordinance prohibits direct participation of foreign entities and people in the publishing sector.
Industry Analysis (Porter's 5 Forces Design).
Porter's 5 Forces Design might be used to examine the appearance of the publishing industry China. A quick analysis of the Porter's Five Forces is provided as follows;.
Hazard of New Entrants.
Dangers of brand-new entrants in the Chinese Publishing Market is moderate. The prospective growth in the market tends to attract brand-new entrants to the publishing industry. Nevertheless, the existence of extreme competitors and the requirement of substantial capital tends to demotivate brand-new entrants to enter in the market.
Threat of Alternative.
Hazard of Replacement is high for the Chinese Publishing Industry. The alternative items for the released documents is the documents presented in the digital libraries on particular sites. The changing consumer choices towards digital knowing increase the threat of substitution for the industry.
Competitive competition in the publishing industry is high. The existence of a great deal of customers in the Chinese Publishing Industry like CIP, PTP and so on tends to produce high competitive rivalry for CMP. Together with it, brand-new entrants are likewise participating in the marketplace increasing the competition for CMP.
Bargaining Power of Provider.
The major suppliers of the The Use Of Social Media Marketing And New Technologies In Human Resource Case Study Solution include the providers of the paper for publishing documents. As CMP is the largest publisher in the Chinese Publishing Market, for that reason the total 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 marketplace saturation, the purchasers requires high quality files at competitive rates.
CMP runs 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 highest market share in the Chinese publishing market. Major competitors of The Use Of Social Media Marketing And New Technologies In Human Resource Case Study Solution consist of;.
• Chemical Market Press (CIP).
• Posts and telecommunication Press (PTP).
Chemical Market Press (CIP).
CIPis one of the close competitors of CMP. Founded in the same period, CIP releases similar type of books. For a big period, CIP held the largest market share, and still ranks 3rd and 2nd in different market sectors, with a major concentrate on educational publications. CIP functions 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 could wean the marketplace share of The Use Of Social Media Marketing And New Technologies In Human Resource Case Study Solution quickly in the current market situation.
Posts and telecommunication Press (PTP).
Another close competitor of CMP is PTP. It was also founded in the same period as CMP and CIP. It ranks sixth in the state-owned publishers in regards to organisation scale. It is also among the popular gamers in the publishing industry with a yearly total profits of RMB 550 million in 2010.
Alternative-1: Expand towards New Markets
• Minimizing reliance over the Chinese markets.
• Increasing variety of Consumers
• Growth chances.
• Avoiding the effect of market saturation in the Chinese publishing industry.
• Usage of possible resources in growth.
• Threat of failure in brand-new markets.
• Time consuming.
Alernative-2: Present Digital Publishing
• Sustaining customer base.
• Approaching new markets.
• Easy to introduce utilizing present abilities.
• Low risk of Failure.
• Low requirement for funds.
• Increased item portfolio offers high value to customers.
• Competitors in the market by CIP, who has prior concentrate on the digital publishing.
• Shift of focus from the core organisation sectors to the new one can lead the company to lose need of its products in the market.
With the deep analysis of the external and internal environment of the business together with the industry analysis and the competitor analysis, Alternative 2 is suggested to CMP to accomplish its future development. As the preferences are shifting towards digital publishing and the company need an immediate solution to prevent the decreasing market growth. Introduction of digital publishing could show to be an immediate solution with low quantity of threat for the business. However, the company might also consider the growth program after the success of its digital publishing program.
In order to introduce digital publishing in its item portfolio, the business must first gathers the information associated with the consumer demand, the possible markets, the federal government regulations and the information connected to the competitors presented in the market. After that, the company should decide one possible sector for its initial offering. It ought to gather research that how it could separate its digital publishing from the existing rivals' products. After all the actions above the company should go for the initial offering. The company needs to go for the other markets if the initial offering shows a success. In this method the company would be able to implement its digital publishing program.
Although, the growth of the publishing industry is decreasing since 2008, showing a threat to the company's long term existence, but the situation can be controlled by thinking about a development strategy in the future. The company could consider presenting digital publishingin its existing market to implement its advancement program at instant basis and to avoid the danger of failure for entrance in the new markets.