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 Help is the largest publishing company with a greatest market share in the China's book retail market. CMP supplies a number of services including; collecting information, processing details and communication services. Significant organisation sections of the company include; books, regulars, consultancy and circulation. The company has a large product portfolio and its significant items include books, regulars, online media, exhibits, research reports and so on. The Use Of Social Media Marketing And New Technologies In Human Resource Case Study Analysis has ended up being a specialized details provider and a large extensive Science and Technology publishing company through the integration of print media, audio-visual media and the network media.
CMP has spent its 60 years journey smoothly, being an effective publishing home, however, the changing macro market patterns and forces bring certain challenges 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;
• Entryway of the new publishing firms in the market.
• Declining development of the publishing market.
• Market saturation.
• Intro of digital publishing methods
• Enhancement of science and innovation.
The improvement 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 important experience, technical resources and the abilities of the company could be made use of to strive for 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 Analysis has particular strengths that can be made use of to decrease the dangers, get rid of the weak point and get the opportunities. Strengths of CMP are provided as follows;
• The long term experience of The Use Of Social Media Marketing And New Technologies In Human Resource Case Study Help in the publishing market i.e. 60 years enables the company to offer high quality items at a lower cost utilizing its prior experiences.
• The technical resources and abilities produced by its successful journey offer a competitive benefit to CMP.
• Large product portfolioof CMP assists it to diversify its danger and supply high value to its customers.
• Strong monetary position allows the company to think about several development opportunities with no fear of raising fund externally.
Together with the strengths, the company has certain weak points which might increase restraints for the business in executing its advancement program. The weaknesses of The Use Of Social Media Marketing And New Technologies In Human Resource Case Study Analysis are given as follows;
• Despite of being a science and innovation publishing firm, the company still has standard ways ofpublishing which are not suitable with the growing technological shift.
• CMP extremely relies over the Chinese markets for its growth. It should propose certain growth plans to avoid its reliance over the Chinese markets to attain long term development.
Although, the growth of the publishing market is declining because 2008, affecting The Use Of Social Media Marketing And New Technologies In Human Resource Case Study Help as well, however the development might be revived by availing specific chances provided in the market. The marketplace opportunities for CMP include;
• The business could 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 growth towards foreign markets in order to reduce its dependence over Chinese markets by using its large financial resources.
The altering macro trends in the market and increasing competitors in the publishing industry has presented specific dangers to The Use Of Social Media Marketing And New Technologies In Human Resource Case Study Analysis consisting of;( Gurel, 2017).
• Intro of digital publishing i.e. virtual libraries might result in declining market share of The Use Of Social Media Marketing And New Technologies In Human Resource Case Study Analysis due to the consumer shift towards virtual libraries.
• The presence of a great deal of competitors in the publishing industry increase the danger for CMP to lose its competitive position in the market, as rivals can acquire a strong consumer base by utilizing certain techniques like aggressive promotion, quality products, etc.
• Entryway of brand-new publishing firms in the market along with presence of high competition increases the danger of losing the customer base.
The business has a rather competitive monetary performance. Due to lack of data, the monetary ratios of CMP might not be computed. The total financial efficiency of the business could be examined by utilizing the charts provided in the case Appendices. It could be examined from the Appendix III that the annual overall revenues of CMP throughout the period 2000-2012 are growing at a high development rate, revealing that the annual demand of the items of The Use Of Social Media Marketing And New Technologies In Human Resource Case Study Solution is growing and the business is quite efficient in bring in a large number of customers at a prospective cost.
Together with it, the 2nd chart which shows the annual development in the The Use Of Social Media Marketing And New Technologies In Human Resource Case Study Solution overall properties, shows that the business is rather effective in adding value to its assets through its incomes. The growth in assets shows that the total value of the firm is also increasing with increasing the total revenues. (Unknown, 2013).
Another monetary analysis of the business utilizing the offered data might be the analysis relating to the circulation of total profits of the business. Major 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 business sectors with a possible development to attain its future advancement objective.
PESTEL analysis could be performed to learn the numerous external forces impacting the efficiency of the company and the current patterns in the external environment of the company. A brief PESTEL analysis of the company is offered as follows; (Alanzi, 2018).
As the publishing sector could have a considerable impact on the mindset of the people about the communist ideology of the government, therefore, the publishing sector is highly supervised and guided by the Publicity Department of the Communist Party of China. It might be said that the overall political forces impacting CMP service are high. The federal government policies relating to the publishing sector are also increasing with the passage of time.
Financial forces impacting the publishing sector in basic and the CMP in specific includesthe costs of paper, the earnings level of consumers, the inflation rate, and the general GDP growth of the country. All these forces combine impact the demand for the publishing market.
Social and Demographical.
Social and demographical forces include the population development, the customer's choices towards reading informative products and so on. China has the highest population in the world with a high population growth, showing the increasing variety of customers of the The Use Of Social Media Marketing And New Technologies In Human Resource Case Study Solution. However, the customer choices are moving towards digital publishing rather than the conventional was of publishing. In this regard, CMP must concentrate on digital publishing to fulfill the altering customer choices.
Technological forces impacting the CMP include the technological development in the reading techniques and so on. Improvement of science and innovation together with the rise of digital publishing might decrease the need for the CMP items, if particular actions would not be taken quickly.
Environmental forces affecting The Use Of Social Media Marketing And New Technologies In Human Resource Case Study Help includes the concerns of ecological communities over the use of paper in publishing books. The paper used in the books while publishing is needed to be non reusable and the ink used while publishing should not be hazardous for the environment.
Legal guidelines for the publishing sector at whole are high. The legal guidelines regarding the publishing sector is managed by the General Administration of Press and Publication. Publishing Regulation 1997 requires the publishers to be authorized first by the Federal government to be entered in the publishing market. The regulation forbids direct involvement of foreign entities and individuals in the publishing sector.
Industry Analysis (Porter's Five Forces Design).
Porter's 5 Forces Design might be utilized to analyze the attractiveness of the publishing industry China. A quick analysis of the Porter's 5 Forces is given as follows;.
Danger of New Entrants.
Risks of brand-new entrants in the Chinese Publishing Industry is moderate. The prospective growth in the industry tends to attract new entrants to the publishing market. However, the presence of intense competitors and the requirement of big capital tends to demotivate brand-new entrants to go into in the marketplace.
Danger of Replacement.
Threat of Substitution is high for the Chinese Publishing Market. The alternative products for the released documents is the documents presented in the digital libraries on specific websites. The changing consumer choices towards digital learning increase the threat of replacement for the industry.
Competitive competition in the publishing market is high. The existence of a great deal of consumers in the Chinese Publishing Industry like CIP, PTP etc. tends to produce high competitive rivalry for CMP. Together with it, brand-new entrants are likewise participating in the market increasing the competition for CMP.
Bargaining Power of Provider.
The significant providers of the The Use Of Social Media Marketing And New Technologies In Human Resource Case Study Help consist of the suppliers of the paper for releasing files. As CMP is the largest publisher in the Chinese Publishing Market, therefore the total bargaining power of supplier for CMP is low.
Bargaining Power of Purchaser.
Haggling power of purchaser in the publishing industry is high. Due to the presence of a large number of publishers in the Chinese market and the marketplace saturation, the purchasers needs high quality files at competitive rates.
CMP runs in an extremely competitive market with the presence of large number of rivals. The company has a competitive position in the market with the highest market share in the Chinese publishing market. Major rivals of The Use Of Social Media Marketing And New Technologies In Human Resource Case Study Analysis consist of;.
• Chemical Industry Press (CIP).
• Posts and telecommunication Press (PTP).
Chemical Market Press (CIP).
CIPis one of the close competitors of CMP. Founded in the exact same duration, CIP publishes comparable kind of books. For a large period, CIP held the largest market share, and still ranks third and 2nd in numerous market sections, with a major focus on instructional publications. 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 could wean the marketplace share of The Use Of Social Media Marketing And New Technologies In Human Resource Case Study Help quickly in the existing market scenario.
Posts and telecommunication Press (PTP).
It was also founded in the same period as The Use Of Social Media Marketing And New Technologies In Human Resource Case Study Analysis and CIP. It is also one of the popular gamers in the publishing market with a yearly total earnings of RMB 550 million in 2010.
Alternative-1: Expand towards New Markets
• Decreasing dependence over the Chinese markets.
• Increasing number of Consumers
• Development opportunities.
• Avoiding the effect of market saturation in the Chinese publishing industry.
• Usage of potential resources in expansion.
• Threat of failure in brand-new markets.
• Time consuming.
Alernative-2: Introduce Digital Publishing
• Sustaining customer base.
• Approaching brand-new markets.
• Easy to introduce utilizing present abilities.
• Low risk of Failure.
• Low requirement for funds.
• Increased product portfolio provides high value to customers.
• Competition in the market by CIP, who has prior focus on the digital publishing.
• Shift of focus from the core service sectors to the brand-new one can lead the company to lose need of its items in the market.
With the deep analysis of the internal and external environment of the company together with the industry analysis and the competitor analysis, Alternative 2 is recommended to CMP to achieve its future advancement. As the choices are shifting towards digital publishing and the company require an immediate service to prevent the decreasing market development. Therefore, introduction of digital publishing might show to be an immediate option with low quantity of danger for the business. The company might also think about the expansion program after the success of its digital publishing program.
In order to introduce digital publishing in its product portfolio, the company needs to first gathers the information connected to the customer need, the potential markets, the federal government policies and the data connected to the rivals provided in the market. After that, the company must decide one prospective sector for its preliminary offering. It needs to gather research that how it could distinguish its digital publishing from the existing competitors' products. The steps above the business ought to go for the initial offering. The business must go for the other markets if the initial offering proves 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 considering that 2008, showing a risk to the company's long term existence, but the situation can be managed by thinking about a development plan in the future. The business could consider presenting digital publishingin its existing market to execute its development program at immediate basis and to avoid the danger of failure for entryway in the new markets.