The Value Of Human Resource Management For Organizational Performance 2 Case Study Solution and Analysis
Intro
The Value Of Human Resource Management For Organizational Performance 2 Case Study Solution is the biggest publishing business with a greatest market share in the China's book retail market. CMP provides a variety of services consisting of; collecting details, processing information and interaction services. Significant organisation sections of the company include; books, regulars, consultancy and circulation. The business has a huge item portfolio and its major items include books, regulars, online media, exhibitions, research study reports and so on. The Value Of Human Resource Management For Organizational Performance 2 Case Study Solution has become a specialized details supplier and a big thorough Science and Innovation publishing company through the integration of print media, audio-visual media and the network media.
Critical Issues
Although, The Value Of Human Resource Management For Organizational Performance 2 Case Study Help has invested its 60 years journey smoothly, being a successful publishing home, however, the altering macro market patterns and forces bring particular challenges to the publishing industry in general and CMP in particular. These aspects include;
• Entrance of the brand-new publishing companies in the market.
• Decreasing development of the publishing market.
• Market saturation.
• Introduction of digital publishing strategies
• Enhancement of science and innovation.
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 scenario? Do the long valuable experience, technical resources and the capabilities of the company could be utilized to strive for the future development unceasingly? How could the company sustain its long term competitive position in future?
Situational Analysis
Internal Analysis
SWOT Analysis
Strengths
The Value Of Human Resource Management For Organizational Performance 2 Case Study Help has certain strengths that can be used to decrease the threats, get rid of the weakness and obtain the chances. Strengths of CMP are offered as follows;
• The long term experience of The Value Of Human Resource Management For Organizational Performance 2 Case Study Help in the publishing market i.e. 60 years allows the business to provide high quality items at a lower expense utilizing its prior experiences.
• The technical resources and abilities created by its successful journey supply a competitive benefit to CMP.
• Vast item portfolioof CMP assists it to diversify its danger and offer high value to its consumers.
• Strong monetary position enables the business to think about a number of advancement opportunities without any worry of raising fund externally.
Weaknesses
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 Value Of Human Resource Management For Organizational Performance 2 Case Study Solution are given as follows;
• Despite of being a science and technology publishing firm, the business still has traditional methods ofpublishing which are not suitable with the growing technological shift.
• CMP highly relies over the Chinese markets for its growth. It must propose certain growth plans to avoid its dependence over the Chinese markets to attain long term growth.
Opportunities
Although, the growth of the publishing market is declining because 2008, impacting The Value Of Human Resource Management For Organizational Performance 2 Case Study Analysis also, however the growth might be revived by availing particular chances presented in the market. The market chances for CMP include;
• The business might also present Digital Publishing by using its long term technical experience and a strong consumer acknowledgment in the market.
• CMP could think about an advancement program through the growth towards foreign markets in order to decrease its dependence over Chinese markets by using its huge funds.
Dangers
The changing macro patterns in the market and increasing competition in the publishing industry has presented particular hazards to The Value Of Human Resource Management For Organizational Performance 2 Case Study Help including;( Gurel, 2017).
• Intro of digital publishing i.e. digital libraries might result in decreasing market share of The Value Of Human Resource Management For Organizational Performance 2 Case Study Help due to the customer shift towards virtual libraries.
• The presence of large number of rivals in the publishing industry increase the danger for CMP to lose its competitive position in the market, as competitors can gain a strong consumer base by using specific techniques like aggressive promotion, quality products, and so on
• Entrance of new publishing firms in the market together with existence of high competition increases the hazard of losing the consumer base.
Monetary Analysis.
Due to lack of data, the monetary ratios of CMP could not be computed. It could be examined from the Appendix III that the yearly overall earnings of The Value Of Human Resource Management For Organizational Performance 2 Case Study Solution during the period 2000-2012 are growing at a high development rate, showing that the yearly demand of the products of CMP is growing and the business is quite effective in bring in a large number of clients at a prospective rate.
In addition to it, the second graph which shows the yearly development in the The Value Of Human Resource Management For Organizational Performance 2 Case Study Solution total possessions, reveals that the business is quite effective in adding value to its assets through its earnings. The development in properties reveals that the overall worth of the firm is also increasing with increasing the total revenues. (Unknown, 2013).
Another financial analysis of the business utilizing the offered data might be the analysis concerning the distribution of total incomes of the company. Major part of the earnings of CMP originates from the sales of its published books i.e. 64% as shown in the Case Appendix V. The business could move towards other business sectors with a possible development to accomplish its future development objective.
PESTEL Analysis
PESTEL analysis might be conducted to find out the numerous 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 business is provided as follows; (Alanzi, 2018).
Political.
As the publishing sector could have a significant effect on the frame of mind of the people about the communist ideology of the government, therefore, the publishing sector is highly monitored and directed by the Promotion Department of the Communist Party of China. It could be stated that the general political forces affecting CMP service are high. The government policies concerning the publishing sector are also increasing with the passage of time.
Affordable.
Economic forces impacting the publishing sector in basic and the CMP in particular includesthe prices of paper, the income level of customers, the inflation rate, and the total GDP development of the country. All these forces combine effect the demand for the publishing market.
Social and Demographical.
The customer 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 altering customer preferences.
Technological.
Technological forces affecting the CMP include the technological advancement in the reading methods etc. Enhancement of science and technology in addition to the rise of digital publishing could decrease the need for the CMP products, if specific actions would not be taken quickly.
Environmental.
Environmental forces impacting The Value Of Human Resource Management For Organizational Performance 2 Case Study Solution consists of the issues of ecological communities 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 needs to not be harmful for the environment.
Legal.
Legal regulations for the publishing sector at whole are high. Publishing Ordinance 1997 needs the publishers to be approved first by the Government to be gone into in the publishing market.
Market Analysis (Porter's 5 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 offered as follows;.
Hazard of New Entrants.
Threats of brand-new entrants in the Chinese Publishing Industry is moderate. The possible development in the industry tends to attract brand-new entrants to the publishing market. The presence of intense competition and the requirement of huge capital tends to demotivate new entrants to enter in the market.
Danger of Substitution.
Hazard of Alternative is high for the Chinese Publishing Market. The alternative products for the published documents is the files provided in the virtual libraries on specific websites. The changing consumer preferences towards digital knowing increase the danger of replacement for the industry.
Competitive Competition.
Competitive rivalry in the publishing market is high. The existence of a great deal of customers in the Chinese Publishing Industry like CIP, PTP etc. tends to produce high competitive rivalry for CMP. In addition to 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 Value Of Human Resource Management For Organizational Performance 2 Case Study Help consist of the providers of the paper for publishing documents. As CMP is the biggest publisher in the Chinese Publishing Market, for that reason the general bargaining power of provider for CMP is low.
Bargaining Power of Buyer.
Negotiating 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 market saturation, the purchasers requires high quality files at competitive prices.
Rivals Analysis.
CMP runs in a highly competitive market with the presence of a great deal of competitors. The company has a competitive position in the market with the highest market share in the Chinese publishing market. Significant competitors of The Value Of Human Resource Management For Organizational Performance 2 Case Study Help include;.
• Chemical Industry Press (CIP).
• Posts and telecommunication Press (PTP).
Chemical Industry Press (CIP).
CIPis one of the close rivals of CMP. Established in the very same duration, CIP releases comparable type of books. For a big period, CIP held the biggest market share, and still ranks 3rd and second in various market sectors, with a significant focus on academic publications. CIP serves as a risk for CMP as it could wean its market share due to its long term competitive background. CIP is concentrated on digital publishing and could wean the market share of The Value Of Human Resource Management For Organizational Performance 2 Case Study Help easily in the current market scenario.
Posts and telecommunication Press (PTP).
Another close competitor of CMP is PTP. It was also founded in the same duration as CMP and CIP. It ranks sixth in the state-owned publishers in terms of company scale. It is likewise among the popular players in the publishing market with a yearly overall incomes of RMB 550 million in 2010.
Alternatives
Alternative-1: Expand towards New Markets
Pros
• Reducing dependence over the Chinese markets.
• Increasing number of Customers
• Growth chances.
• Avoiding the effect of market saturation in the Chinese publishing industry.
Cons
• Use of potential resources in expansion.
• Threat of failure in new markets.
• Time consuming.
Alernative-2: Present Digital Publishing
Pros
• Sustaining consumer base.
• Approaching new markets.
• Easy to present utilizing present abilities.
• Low danger of Failure.
• Low requirement for funds.
• Increased product portfolio supplies high worth to consumers.
Cons
• Competition in the market by CIP, who has prior focus on the digital publishing.
• Shift of focus from the core company segments to the brand-new one can lead the business to lose need of its items in the market.
Recommendations
As the preferences are shifting towards digital publishing and the business need an immediate option to avoid the declining industry growth. The business could also think about the growth program after the success of its digital publishing program.
Execution
In order to present digital publishing in its item portfolio, the company should initially collects the information associated with the customer need, the possible markets, the government regulations and the information connected to the rivals presented in the market. After that, the company should choose one potential segment for its initial offering. It ought to gather research that how it could separate its digital publishing from the existing competitors' products. After all the actions above the business need to go for the preliminary offering. The company should 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
The growth of the publishing industry is decreasing since 2008, showing a hazard to the company's long term presence, however the scenario can be controlled by thinking about a development strategy in the future. The business could think about introducing digital publishingin its existing market to execute its advancement program at instant basis and to prevent the threat of failure for entrance in the new markets.
