Tips For Managing Career Transitions And Your Golf Game Lessons And Teaching From Harvey Penicks Little Red Book Case Study Solution and Analysis
Introduction
Tips For Managing Career Transitions And Your Golf Game Lessons And Teaching From Harvey Penicks Little Red Book Case Study Solution is the largest publishing business with a highest market share in the China's book retail market. CMP has actually become a specialized info company and a large comprehensive Science and Technology publishing company through the combination of print media, audio-visual media and the network media.
Crucial Issues
Although, Tips For Managing Career Transitions And Your Golf Game Lessons And Teaching From Harvey Penicks Little Red Book Case Study Help has actually spent its 60 years journey efficiently, being a successful publishing home, however, the changing macro market trends and forces bring certain difficulties to the publishing market in general and CMP in specific. These elements include;
• Entrance of the new publishing firms in the market.
• Declining development of the publishing market.
• Market saturation.
• Intro of digital publishing techniques
• Improvement 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 scenario? Do the long important experience, technical resources and the abilities of the company could be made use of to strive for the future advancement 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 Case Study Help has certain strengths that can be made use of to lower the hazards, overcome the weak point and get the chances. Strengths of CMP are offered 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 Case Study Analysis in the publishing industry i.e. 60 years permits the business to supply high quality items at a lower expense utilizing its prior experiences.
• The technical resources and capabilities produced by its effective journey provide a competitive benefit to CMP.
• Vast product portfolioof CMP helps it to diversify its risk and supply high worth to its customers.
• Strong financial position enables the company to think about several advancement chances without any worry of raising fund externally.
Weaknesses
Along with the strengths, the company has particular weak points which might increase restrictions for the business in implementing its advancement program. The weaknesses of Tips For Managing Career Transitions And Your Golf Game Lessons And Teaching From Harvey Penicks Little Red Book Case Study Help are provided as follows;
• Despite of being a science and innovation publishing company, 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 development. It needs to propose certain expansion strategies to prevent its dependence over the Chinese markets to accomplish long term growth.
Opportunities
Although, the growth of the publishing industry is declining considering that 2008, impacting Tips For Managing Career Transitions And Your Golf Game Lessons And Teaching From Harvey Penicks Little Red Book Case Study Solution too, however the growth could be restored by availing particular chances presented in the market. The marketplace chances for CMP consist of;
• The company could also introduce Digital Publishing by using its long term technical experience and a strong consumer recognition in the market.
• CMP could consider a development program through the growth towards foreign markets in order to minimize its reliance over Chinese markets by utilizing its vast funds.
Hazards
The changing macro trends in the market and increasing competitors in the publishing market has postured certain dangers to Tips For Managing Career Transitions And Your Golf Game Lessons And Teaching From Harvey Penicks Little Red Book Case Study Analysis consisting of;( Gurel, 2017).
• Intro of digital publishing i.e. virtual libraries could result in declining market share of Tips For Managing Career Transitions And Your Golf Game Lessons And Teaching From Harvey Penicks Little Red Book Case Study Solution due to the consumer shift towards digital libraries.
• The existence of large number of rivals in the publishing market increase the risk for CMP to lose its competitive position in the market, as competitors can gain a strong customer base by utilizing certain methods like aggressive promotion, quality items, and so on
• Entrance of brand-new publishing companies in the market together with presence of high competition increases the hazard of losing the customer base.
Financial Analysis.
Due to absence of information, the monetary ratios of CMP might not be computed. It could be examined from the Appendix III that the yearly overall profits of Tips For Managing Career Transitions And Your Golf Game Lessons And Teaching From Harvey Penicks Little Red Book Case Study Help during the period 2000-2012 are growing at a high growth rate, showing that the annual need of the items of CMP is growing and the company is quite efficient in drawing in a big number of consumers at a possible price.
Along with it, the 2nd graph which shows the annual growth in the Tips For Managing Career Transitions And Your Golf Game Lessons And Teaching From Harvey Penicks Little Red Book Case Study Help total properties, reveals that the business is rather efficient in including worth to its assets through its revenues. The development in assets reveals that the overall worth of the firm is also increasing with increasing the overall incomes. (Unidentified, 2013).
Another financial analysis of the company using the provided data could be the analysis regarding the circulation of overall profits of the company. Major part of the incomes of CMP comes from the sales of its released books i.e. 64% as displayed in the Case Appendix V. The business might move towards other business sections with a potential development to accomplish its future development goal.
PESTEL Analysis
PESTEL analysis could be performed to discover the numerous external forces impacting the performance of the business and the recent patterns in the external environment of the business. A brief PESTEL analysis of the business is provided as follows; (Alanzi, 2018).
Political.
As the publishing sector might have a significant influence on the frame of mind of individuals about the communist ideology of the federal government, therefore, the publishing sector is highly monitored and guided by the Publicity Department of the Communist Party of China. Therefore, it might be said that the general political forces impacting Tips For Managing Career Transitions And Your Golf Game Lessons And Teaching From Harvey Penicks Little Red Book Case Study Help business are high. The government policies relating to the publishing sector are likewise increasing with the passage of time.
Affordable.
Economic forces impacting the publishing sector in general and the Tips For Managing Career Transitions And Your Golf Game Lessons And Teaching From Harvey Penicks Little Red Book Case Study Help in particular includesthe prices of paper, the income level of consumers, the inflation rate, and the general GDP growth of the country. All these forces integrate effect the need for the publishing market. In addition to it, the economic policies associated with the import of books impact the general service at CPM. China's economic conditions are rather favorable for CMP with high GDP growth and consumer income level.
Social and Demographical.
Social and demographical forces consist of the population development, the consumer's choices towards reading helpful materials etc. China has the greatest population worldwide with a high population growth, revealing the increasing variety of customers of the Tips For Managing Career Transitions And Your Golf Game Lessons And Teaching From Harvey Penicks Little Red Book Case Study Analysis. The consumer choices are shifting towards digital publishing rather than the conventional was of publishing. In this regard, CMP must 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. Improvement of science and technology together with the rise of digital publishing might lower the demand for the CMP items, if specific actions would not be taken quickly.
Environmental.
Ecological forces affecting Tips For Managing Career Transitions And Your Golf Game Lessons And Teaching From Harvey Penicks Little Red Book Case Study Solution consists of the concerns of environmental neighborhoods over the use of paper in publishing books. The paper used in the books while publishing is required to be non reusable and the ink utilized while publishing should not be harmful for the environment.
Legal.
Legal policies for the publishing sector at whole are high. Publishing Ordinance 1997 needs the publishers to be approved first by the Government to be entered in the publishing market.
Market Analysis (Porter's Five Forces Design).
Porter's 5 Forces Design could be utilized to evaluate the appearance of the publishing market China. A brief analysis of the Porter's Five Forces is offered as follows;.
Risk of New Entrants.
Risks of brand-new entrants in the Chinese Publishing Market is moderate. The prospective development in the market tends to attract new entrants to the publishing market. The presence of intense competitors and the requirement of huge capital tends to demotivate brand-new entrants to enter in the market.
Hazard of Replacement.
Hazard of Substitution is high for the Chinese Publishing Market. The alternative items for the released files is the documents presented in the virtual libraries on particular sites. The altering customer preferences towards digital learning increase the risk of replacement for the market.
Competitive Rivalry.
Competitive competition in the publishing market is high. The presence of a great deal of consumers in the Chinese Publishing Market like CIP, PTP etc. tends to produce high competitive rivalry for CMP. Together with it, brand-new entrants are also participating in the market increasing the competitors for CMP.
Bargaining Power of Supplier.
The significant suppliers of the Tips For Managing Career Transitions And Your Golf Game Lessons And Teaching From Harvey Penicks Little Red Book Case Study Help consist of the suppliers of the paper for releasing documents. As CMP is the largest publisher in the Chinese Publishing Market, for that reason the general bargaining power of supplier for CMP is low.
Bargaining Power of Buyer.
Bargaining power of buyer in the publishing market is high. Due to the existence of a large number of publishers in the Chinese market and the market saturation, the purchasers needs high quality documents at competitive prices.
Rivals Analysis.
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 rivals of Tips For Managing Career Transitions And Your Golf Game Lessons And Teaching From Harvey Penicks Little Red Book Case Study Solution include;.
• Chemical Industry Press (CIP).
• Posts and telecommunication Press (PTP).
Chemical Industry Press (CIP).
CIP acts as a threat for CMP as it might 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 quickly in the present market situation.
Posts and telecommunication Press (PTP).
It was likewise established in the same period as Tips For Managing Career Transitions And Your Golf Game Lessons And Teaching From Harvey Penicks Little Red Book Case Study Analysis and CIP. It is also one of the prominent players in the publishing market with a yearly total incomes of RMB 550 million in 2010.
Alternatives
Alternative-1: Expand towards New Markets
Pros
• Decreasing reliance over the Chinese markets.
• Increasing variety of Customers
• Development opportunities.
• Avoiding the effect of market saturation in the Chinese publishing industry.
Cons
• Usage of possible resources in expansion.
• Threat of failure in brand-new markets.
• Time consuming.
Alernative-2: Present Digital Publishing
Pros
• Sustaining consumer base.
• Approaching brand-new markets.
• Easy to present utilizing present capabilities.
• Low risk of Failure.
• Low requirement for funds.
• Increased item portfolio supplies high worth to clients.
Cons
• Competition in the market by CIP, who has prior concentrate on the digital publishing.
• Shift of focus from the core business sectors to the new one can lead the company to lose demand of its items in the market.
Suggestions
With the deep analysis of the internal and external environment of the company along with the market analysis and the competitor analysis, Alternative 2 is recommended to CMP to attain its future development. As the preferences are moving towards digital publishing and the company need an instant service to prevent the declining industry development. Intro of digital publishing could prove to be an immediate option with low quantity of danger for the business. The company might likewise consider the growth program after the success of its digital publishing program.
Implementation
In order to introduce digital publishing in its product portfolio, the company ought to initially collects the information associated with the consumer need, the potential markets, the federal government policies and the data associated with the rivals presented in the market. After that, the company should choose one potential segment for its preliminary offering. It needs to collect research study that how it might differentiate its digital publishing from the existing competitors' items. The steps above the company ought to go for the preliminary offering. The company ought to go for the other markets if the preliminary offering shows a success. In this method the business would be able to implement its digital publishing program.
Conclusion
Although, the development of the publishing market is decreasing since 2008, revealing a hazard to the company's long term existence, however the scenario can be managed by thinking about an advancement plan in the future. The company might consider presenting digital publishingin its existing market to execute its development program at instant basis and to avoid the threat of failure for entrance in the new markets.
