Tips For Managing Career Transitions And Your Golf Game Lessons And Teaching From Harvey Penicks Little Red Book 2 Case Study Solution and Analysis
Intro
Tips For Managing Career Transitions And Your Golf Game Lessons And Teaching From Harvey Penicks Little Red Book 2 Case Study Analysis is the largest publishing company with a greatest market share in the China's book retail market. CMP offers a number of services including; collecting details, processing details and communication services. Major business sectors of the company include; books, periodicals, consultancy and circulation. The business has a vast product portfolio and its major items consist of books, periodicals, online media, exhibits, research reports and so on. Tips For Managing Career Transitions And Your Golf Game Lessons And Teaching From Harvey Penicks Little Red Book 2 Case Study Analysis has actually become a specialized details company and a large detailed Science and Technology publishing company through the combination of print media, audio-visual media and the network media.
Critical Problems
Although, Tips For Managing Career Transitions And Your Golf Game Lessons And Teaching From Harvey Penicks Little Red Book 2 Case Study Help has actually spent its 60 years journey efficiently, being a successful publishing house, however, the altering macro market trends and forces bring specific obstacles to the publishing market in general and CMP in particular. These aspects include;
• Entrance of the new publishing companies in the market.
• Declining development of the publishing market.
• Market saturation.
• Introduction of digital publishing strategies
• Improvement of science and technology.
The improvement of the macro markets have raised several concerns to the management at CPM that what could be the future of CMP in this scenario? Do the long important experience, technical resources and the abilities of the business could be utilized to pursue the future development unceasingly? How could the business sustain its long term competitive position in future?
Situational Analysis
Internal Analysis
SWOT Analysis
Strengths
Tips For Managing Career Transitions And Your Golf Game Lessons And Teaching From Harvey Penicks Little Red Book 2 Case Study Solution has particular strengths that can be used to minimize the threats, get rid of the weakness and obtain the opportunities. Strengths of CMP are provided as follows;
• The long term experience of Tips For Managing Career Transitions And Your Golf Game Lessons And Teaching From Harvey Penicks Little Red Book 2 Case Study Analysis in the publishing market i.e. 60 years enables the business to offer high quality items at a lower cost using its prior experiences.
• The technical resources and capabilities produced by its effective journey supply a competitive benefit to CMP.
• Huge item portfolioof CMP helps it to diversify its danger and supply high worth to its customers.
• Strong financial position allows the business to think about a number of development chances with no fear of raising fund externally.
Weak points
In addition to the strengths, the company has certain weak points which could increase restrictions for the business in executing its development program. The weak points of Tips For Managing Career Transitions And Your Golf Game Lessons And Teaching From Harvey Penicks Little Red Book 2 Case Study Solution are offered as follows;
• Despite of being a science and innovation publishing firm, the company still has traditional methods ofpublishing which are not compatible with the growing technological shift.
• CMP extremely relies over the Chinese markets for its development. It must propose certain growth strategies to prevent its dependence over the Chinese markets to attain long term development.
Opportunities
The development of the publishing market is declining because 2008, impacting Tips For Managing Career Transitions And Your Golf Game Lessons And Teaching From Harvey Penicks Little Red Book 2 Case Study Help as well, but the development could be restored by availing specific opportunities presented in the market. The market opportunities for CMP include;
• The company could likewise present Digital Publishing by utilizing its long term technical experience and a strong customer acknowledgment in the market.
• CMP might consider a development program through the expansion towards foreign markets in order to decrease its reliance over Chinese markets by using its huge financial resources.
Hazards
The changing macro patterns in the market and increasing competition in the publishing industry has positioned particular hazards to Tips For Managing Career Transitions And Your Golf Game Lessons And Teaching From Harvey Penicks Little Red Book 2 Case Study Analysis including;( Gurel, 2017).
• Introduction of digital publishing i.e. virtual libraries could lead to decreasing market share of Tips For Managing Career Transitions And Your Golf Game Lessons And Teaching From Harvey Penicks Little Red Book 2 Case Study Analysis due to the consumer shift towards virtual libraries.
• The existence of a great deal of competitors in the publishing market increase the threat for CMP to lose its competitive position in the market, as rivals can gain a strong consumer base by using certain techniques like aggressive promo, quality items, and so on
• Entrance of brand-new publishing firms in the industry together with presence of high competitors increases the danger of losing the client base.
Financial Analysis.
Due to lack of information, the monetary ratios of CMP might not be computed. It could be analyzed from the Appendix III that the yearly overall earnings of Tips For Managing Career Transitions And Your Golf Game Lessons And Teaching From Harvey Penicks Little Red Book 2 Case Study Analysis during the duration 2000-2012 are growing at a high development rate, revealing that the yearly demand of the items of CMP is growing and the business is quite efficient in attracting a large number of customers at a prospective price.
Together with it, the second chart which reveals the annual growth in the Tips For Managing Career Transitions And Your Golf Game Lessons And Teaching From Harvey Penicks Little Red Book 2 Case Study Help overall possessions, reveals that the business is rather efficient in adding worth to its properties through its earnings. The development in properties shows that the total worth of the firm is also increasing with increasing the overall profits. (Unknown, 2013).
Another financial analysis of the business using the given information could be the analysis concerning the distribution of total revenues 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 company might move towards other company sectors with a prospective growth to achieve its future development objective.
PESTEL Analysis
PESTEL analysis might be conducted to discover the different external forces affecting the performance of the business and the current patterns in the external environment of the business. A short PESTEL analysis of the company is provided as follows; (Alanzi, 2018).
Political.
As the publishing sector could have a considerable influence on the frame of mind of individuals about the communist ideology of the government, for that reason, the publishing sector is extremely supervised and assisted by the Promotion Department of the Communist Party of China. It might be stated that the overall political forces affecting CMP service are high. The government policies concerning the publishing sector are also increasing with the passage of time.
Affordable.
Financial forces impacting the publishing sector in basic and the Tips For Managing Career Transitions And Your Golf Game Lessons And Teaching From Harvey Penicks Little Red Book 2 Case Study Solution in particular includesthe rates of paper, the earnings level of customers, the inflation rate, and the overall GDP development of the country. All these forces integrate impact the need for the publishing market. In addition to it, the financial policies related to the import of books impact the general business at CPM. Nevertheless, China's financial conditions are rather beneficial for CMP with high GDP growth and consumer income level.
Social and Demographical.
Social and demographical forces include the population development, the customer's preferences towards checking out helpful materials and so on. China has the greatest population in the world with a high population development, showing the increasing number of consumers of the Tips For Managing Career Transitions And Your Golf Game Lessons And Teaching From Harvey Penicks Little Red Book 2 Case Study Analysis. However, the customer preferences are shifting towards digital publishing rather than the conventional was of publishing. In this regard, CMP needs to concentrate on digital publishing to meet the altering customer preferences.
Technological.
Technological forces affecting the CMP consist of the technological advancement in the reading techniques and so on. Enhancement of science and technology along with the increase of digital publishing might decrease the need for the CMP products, if specific actions would not be taken soon.
Environmental.
Environmental forces impacting Tips For Managing Career Transitions And Your Golf Game Lessons And Teaching From Harvey Penicks Little Red Book 2 Case Study Analysis includes the concerns of environmental communities over the usage of paper in publishing books. The paper used in the books while publishing is required to be disposable and the ink used while publishing should not be hazardous for the environment.
Legal.
Legal regulations for the publishing sector at whole are high. The legal regulations regarding the publishing sector is managed by the General Administration of Press and Publication. Publishing Ordinance 1997 needs the publishers to be approved initially by the Government to be entered in the publishing market. The regulation forbids direct participation of foreign entities and people in the publishing sector.
Industry Analysis (Porter's 5 Forces Model).
Porter's 5 Forces Model might be used to analyze the beauty of the publishing market China. A brief analysis of the Porter's Five 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. Nevertheless, the presence of intense competition and the requirement of huge capital tends to demotivate brand-new entrants to enter in the marketplace.
Hazard of Substitution.
Threat of Substitution is high for the Chinese Publishing Industry. The alternative products for the published documents is the documents provided in the digital libraries on certain websites. The changing consumer choices towards digital knowing increase the danger of substitution for the industry.
Competitive Competition.
Competitive competition in the publishing industry 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. Along with it, new entrants are likewise participating in the marketplace increasing the competition for CMP.
Bargaining Power of Provider.
The significant suppliers of the Tips For Managing Career Transitions And Your Golf Game Lessons And Teaching From Harvey Penicks Little Red Book 2 Case Study Solution include the providers of the paper for releasing files. As CMP is the biggest publisher in the Chinese Publishing Market, for that reason the general bargaining power of supplier for CMP is low.
Bargaining Power of Purchaser.
Bargaining power of buyer in the publishing market is high. Due to the presence of a large number of publishers in the Chinese market and the marketplace saturation, the buyers requires high quality documents at competitive costs.
Rivals Analysis.
CMP operates in an extremely competitive market with the existence 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 competitors of Tips For Managing Career Transitions And Your Golf Game Lessons And Teaching From Harvey Penicks Little Red Book 2 Case Study Help include;.
• Chemical Industry Press (CIP).
• Posts and telecommunication Press (PTP).
Chemical Market Press (CIP).
CIPis one of the close rivals of CMP. Founded in the same duration, CIP releases similar type of books. For a big time period, CIP held the biggest market share, and still ranks 3rd and second in numerous market segments, with a significant focus on academic publications. CIP serves 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 Tips For Managing Career Transitions And Your Golf Game Lessons And Teaching From Harvey Penicks Little Red Book 2 Case Study Solution easily in the existing market situation.
Posts and telecommunication Press (PTP).
Another close competitor of CMP is PTP. It was also established in the exact same period 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 industry with a yearly total earnings of RMB 550 million in 2010.
Alternatives
Alternative-1: Broaden towards New Markets
Pros
• Reducing reliance over the Chinese markets.
• Increasing number of Customers
• Growth chances.
• Preventing the impact of market saturation in the Chinese publishing market.
Cons
• Usage of potential resources in growth.
• Risk of failure in new markets.
• Time consuming.
Alernative-2: Introduce Digital Publishing
Pros
• Sustaining customer base.
• Approaching new markets.
• Easy to introduce utilizing existing abilities.
• Low threat of Failure.
• Low requirement for funds.
• Increased product portfolio provides high value to consumers.
Cons
• Competitors in the market by CIP, who has prior focus on the digital publishing.
• Shift of focus from the core business sectors to the brand-new one can lead the company to lose demand of its products in the market.
Suggestions
With the deep analysis of the internal and external environment of the business in addition to the market analysis and the rival analysis, Alternative 2 is recommended to CMP to attain its future advancement. As the preferences are shifting towards digital publishing and the business need an immediate service to prevent the declining market development. Introduction of digital publishing could prove to be an instant solution with low amount of threat for the company. Nevertheless, the company could also consider the growth program after the success of its digital publishing program.
Implementation
In order to present digital publishing in its item portfolio, the business needs to first gathers the data connected to the customer demand, the potential markets, the government policies and the information associated with the competitors provided in the market. After that, the company should decide one potential sector for its preliminary offering. It should gather research that how it might separate its digital publishing from the existing rivals' products. The actions above the business should go for the initial offering. The business ought to go for the other markets if the initial offering proves a success. In this way the business would have the ability to implement its digital publishing program.
Conclusion
Although, the development of the publishing industry is declining given that 2008, revealing a threat to the company's long term existence, however the circumstance can be managed by thinking about an advancement strategy in the future. The business could consider introducing digital publishingin its existing market to execute its advancement program at instant basis and to prevent the danger of failure for entryway in the new markets.
