Topcoder A Developing Software Through Crowdsourcing Case Study Solution and Analysis
Intro
Topcoder A Developing Software Through Crowdsourcing Case Study Solution is the largest publishing company with a highest market share in the China's book retail market. CMP has actually become a specialized details supplier and a large detailed Science and Technology publishing company through the combination of print media, audio-visual media and the network media.
Crucial Problems
Although, Topcoder A Developing Software Through Crowdsourcing Case Study Analysis has actually invested its 60 years journey efficiently, being an effective publishing house, however, the altering macro market trends and forces bring certain obstacles to the publishing market in basic and CMP in specific. These factors include;
• Entrance of the brand-new publishing firms in the industry.
• Decreasing development of the publishing market.
• Market saturation.
• Introduction of digital publishing techniques
• 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 situation? Do the long important experience, technical resources and the capabilities of the business could be used to pursue the future advancement unceasingly? How could the business sustain its long term competitive position in future?
Situational Analysis
Internal Analysis
SWOT Analysis
Strengths
Topcoder A Developing Software Through Crowdsourcing Case Study Help has certain strengths that can be used to reduce the risks, overcome the weak point and avail the opportunities. Strengths of CMP are provided as follows;
• The long term experience of Topcoder A Developing Software Through Crowdsourcing Case Study Solution in the publishing market i.e. 60 years permits the business to provide high quality products at a lower cost using its prior experiences.
• The technical resources and abilities generated by its effective journey supply a competitive advantage to CMP.
• Vast item portfolioof CMP assists it to diversify its danger and provide high worth to its customers.
• Strong monetary position enables the company to think about a number of advancement opportunities without any fear of raising fund externally.
Weak points
In addition to the strengths, the business has particular weaknesses which could increase restrictions for the company in executing its development program. The weak points of Topcoder A Developing Software Through Crowdsourcing Case Study Analysis are offered 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 extremely relies over the Chinese markets for its development. It needs to propose specific growth plans to prevent its reliance over the Chinese markets to accomplish long term growth.
Opportunities
Although, the development of the publishing market is declining given that 2008, impacting Topcoder A Developing Software Through Crowdsourcing Case Study Solution as well, however the development could be revived by availing specific opportunities provided in the market. The market chances for CMP consist of;
• The business might also present Digital Publishing by using its long term technical experience and a strong customer acknowledgment in the market.
• CMP could consider a development program through the expansion towards foreign markets in order to minimize its reliance over Chinese markets by using its vast funds.
Risks
The changing macro patterns in the market and increasing competition in the publishing market has posed certain risks to Topcoder A Developing Software Through Crowdsourcing Case Study Analysis including;( Gurel, 2017).
• Intro of digital publishing i.e. digital libraries could cause declining market share of Topcoder A Developing Software Through Crowdsourcing Case Study Solution due to the consumer shift towards digital libraries.
• The presence of large number of rivals in the publishing industry increase the risk for CMP to lose its competitive position in the market, as competitors can acquire a strong customer base by utilizing specific techniques like aggressive promo, quality items, and so on
• Entryway of brand-new publishing firms in the market together with presence of high competition increases the risk of losing the consumer base.
Financial Analysis.
The business has a rather competitive financial efficiency. Due to lack of data, the monetary ratios of CMP might not be calculated. The overall financial performance of the business could be analyzed by using the charts provided in the case Appendices. It might be analyzed from the Appendix III that the yearly total earnings of CMP throughout the period 2000-2012 are growing at a high growth rate, showing that the yearly demand of the products of Topcoder A Developing Software Through Crowdsourcing Case Study Analysis is growing and the company is quite efficient in bring in a large number of clients at a potential price.
Together with it, the second graph which shows the annual development in the Topcoder A Developing Software Through Crowdsourcing Case Study Analysis overall possessions, shows that the company is quite efficient in adding worth to its assets through its earnings. The growth in assets shows that the total worth of the company is also increasing with increasing the total profits. (Unidentified, 2013).
Another monetary analysis of the business using the offered data might be the analysis regarding the circulation of total earnings of the business. Huge 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 sections with a potential development to achieve its future advancement objective.
PESTEL Analysis
PESTEL analysis could be conducted to discover the numerous external forces impacting the performance of the business and the recent trends in the external environment of the business. A brief PESTEL analysis of the company is offered as follows; (Alanzi, 2018).
Political.
As the publishing sector might have a significant influence on the mindset of individuals about the communist ideology of the government, therefore, the publishing sector is extremely monitored and assisted by the Publicity Department of the Communist Celebration of China. For that reason, it might be stated that the total political forces affecting Topcoder A Developing Software Through Crowdsourcing Case Study Solution service are high. The government policies relating to the publishing sector are likewise increasing with the passage of time.
Economical.
Economic forces impacting the publishing sector in basic and the Topcoder A Developing Software Through Crowdsourcing Case Study Analysis in specific includesthe prices of paper, the income level of consumers, the inflation rate, and the overall GDP development of the nation. All these forces integrate effect the need for the publishing market. Together with it, the economic policies connected to the import of books impact the total business at CPM. Nevertheless, China's financial conditions are rather favorable for CMP with high GDP growth and consumer income level.
Social and Demographical.
The consumer choices are shifting towards digital publishing rather than the standard was of publishing. In this regard, CMP ought to focus on digital publishing to satisfy the altering consumer choices.
Technological.
Technological forces affecting the CMP include the technological improvement in the reading techniques and so on. Enhancement of science and innovation along with the rise of digital publishing could minimize the need for the CMP products, if certain actions would not be taken soon.
Environmental.
Environmental forces impacting Topcoder A Developing Software Through Crowdsourcing Case Study Analysis consists of the issues of ecological communities over the use of paper in publishing books. The paper used in the books while publishing is needed to be disposable and the ink utilized while publishing needs to not be damaging for the environment.
Legal.
Legal guidelines for the publishing sector at whole are high. Publishing Regulation 1997 needs the publishers to be authorized first by the Federal government to be gone into in the publishing market.
Market Analysis (Porter's Five Forces Design).
Porter's 5 Forces Model could be utilized to analyze the attractiveness of the publishing market China. A brief analysis of the Porter's 5 Forces is provided as follows;.
Threat of New Entrants.
Threats of brand-new entrants in the Chinese Publishing Market is moderate. The possible development in the market tends to draw in brand-new entrants to the publishing market. The presence of extreme competitors and the requirement of substantial capital tends to demotivate new entrants to enter in the market.
Danger of Alternative.
Hazard of Alternative is high for the Chinese Publishing Market. The substitute items for the released files is the files presented in the digital libraries on certain websites. The changing consumer preferences towards digital learning increase the risk of replacement for the market.
Competitive Rivalry.
Competitive rivalry in the publishing industry is high. The presence of large number of customers in the Chinese Publishing Market like CIP, PTP and so on tends to produce high competitive rivalry for CMP. In addition to it, brand-new entrants are likewise participating in the marketplace increasing the competitors for CMP.
Bargaining Power of Provider.
The significant providers of the Topcoder A Developing Software Through Crowdsourcing Case Study Solution include the suppliers of the paper for releasing files. As CMP is the biggest publisher in the Chinese Publishing Market, for that reason the total bargaining power of supplier for CMP is low.
Bargaining Power of Purchaser.
Haggling power of buyer 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 requires high quality documents at competitive rates.
Competitors Analysis.
CMP operates in an extremely competitive market with the presence of large number of competitors. Nevertheless, the business has a competitive position in the market with the greatest market share in the Chinese publishing market. Major rivals of Topcoder A Developing Software Through Crowdsourcing Case Study Analysis consist of;.
• Chemical Market Press (CIP).
• Posts and telecommunication Press (PTP).
Chemical Market Press (CIP).
CIPis one of the close rivals of CMP. Established in the very same period, CIP releases similar type of books. For a large time period, CIP held the biggest market share, and still ranks 3rd and 2nd in various market sectors, with a major concentrate on academic 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 might wean the market share of Topcoder A Developing Software Through Crowdsourcing Case Study Solution 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 regards to service scale. It is also one of the popular players in the publishing market with an annual overall revenues of RMB 550 million in 2010.
Alternatives
Alternative-1: Broaden towards New Markets
Pros
• Reducing dependence over the Chinese markets.
• Increasing variety of Consumers
• Development chances.
• Avoiding the impact of market saturation in the Chinese publishing market.
Cons
• Use of prospective resources in expansion.
• Threat of failure in brand-new markets.
• Time consuming.
Alernative-2: Introduce Digital Publishing
Pros
• Sustaining customer base.
• Approaching new markets.
• Easy to present using present capabilities.
• Low risk of Failure.
• Low requirement for funds.
• Increased item portfolio provides high value to clients.
Cons
• Competition in the market by CIP, who has prior concentrate 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.
Suggestions
As the preferences are moving towards digital publishing and the business require an immediate service to prevent the declining market development. The company might also consider the expansion program after the success of its digital publishing program.
Implementation
In order to introduce digital publishing in its product portfolio, the business ought to first gathers the information related to the customer need, the prospective markets, the federal government guidelines and the data associated with the competitors provided in the market. After that, the company should choose one possible section for its initial offering. It needs to collect research that how it might distinguish its digital publishing from the existing rivals' products. The steps above the company must go for the preliminary offering. The company ought to go for the other markets if the initial offering shows a success. In this method the business would be able to implement its digital publishing program.
Conclusion
The growth of the publishing industry is decreasing given that 2008, revealing a hazard to the business's long term existence, but the circumstance can be managed by considering a development plan in the future. The company could think about presenting digital publishingin its existing market to implement its advancement program at instant basis and to avoid the risk of failure for entrance in the new markets.
