What Successful Project Managers Do Case Study Solution and Analysis
Introduction
What Successful Project Managers Do 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 service provider and a big detailed Science and Technology publishing business through the combination of print media, audio-visual media and the network media.
Vital Issues
Although, What Successful Project Managers Do Case Study Help has actually spent its 60 years journey efficiently, being an effective publishing home, nevertheless, the changing macro market patterns and forces bring certain difficulties to the publishing industry in basic and CMP in particular. These aspects consist of;
• Entrance of the new publishing firms in the market.
• Decreasing development of the publishing market.
• Market saturation.
• Introduction of digital publishing strategies
• Enhancement of science and innovation.
The improvement of the macro markets have raised a number of 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 business could be used to pursue the future advancement unceasingly? How could the company sustain its long term competitive position in future?
Situational Analysis
Internal Analysis
SWOT Analysis
Strengths
What Successful Project Managers Do Case Study Analysis has specific strengths that can be made use of to minimize the risks, conquer the weakness and obtain the opportunities. Strengths of CMP are provided as follows;
• The long term experience of What Successful Project Managers Do Case Study Solution in the publishing market i.e. 60 years permits the company to supply high quality items at a lower cost utilizing its prior experiences.
• The technical resources and capabilities generated by its successful journey offer a competitive benefit to CMP.
• Huge product portfolioof CMP assists it to diversify its threat and offer high value to its consumers.
• Strong monetary position enables the business to consider numerous development chances with no worry of raising fund externally.
Weak points
Along with the strengths, the business has certain weak points which might increase restrictions for the business in implementing its development program. The weaknesses of What Successful Project Managers Do Case Study Solution are provided as follows;
• Despite of being a science and innovation publishing firm, the company still has traditional methods ofpublishing which are not suitable with the growing technological shift.
• CMP highly relies over the Chinese markets for its development. It needs to propose particular growth plans to prevent its dependence over the Chinese markets to achieve long term growth.
Opportunities
The growth of the publishing market is decreasing because 2008, impacting What Successful Project Managers Do Case Study Analysis as well, however the development might be restored by availing particular chances presented in the market. The marketplace opportunities for CMP include;
• The company might also present Digital Publishing by utilizing its long term technical experience and a strong client recognition in the market.
• CMP might think about an advancement program through the expansion towards foreign markets in order to lower its dependence over Chinese markets by utilizing its vast funds.
Threats
The altering macro patterns in the market and increasing competitors in the publishing industry has actually positioned certain dangers to What Successful Project Managers Do Case Study Analysis including;( Gurel, 2017).
• Intro of digital publishing i.e. digital libraries could lead to decreasing market share of What Successful Project Managers Do Case Study Analysis due to the customer shift towards virtual libraries.
• The presence of large number of competitors in the publishing industry increase the threat for CMP to lose its competitive position in the market, as rivals can get a strong customer base by utilizing specific strategies like aggressive promotion, quality products, and so on
• Entryway of brand-new publishing companies in the industry together with existence of high competition increases the danger of losing the consumer base.
Financial Analysis.
Due to absence of information, the monetary ratios of CMP could not be determined. It might be examined from the Appendix III that the yearly overall earnings of What Successful Project Managers Do Case Study Help during the duration 2000-2012 are growing at a high development rate, showing that the annual need of the products of CMP is growing and the company is rather effective in attracting a big number of consumers at a possible rate.
In addition to it, the second graph which reveals the annual development in the What Successful Project Managers Do Case Study Help overall assets, shows that the company is quite efficient in adding worth to its possessions through its profits. The development in possessions reveals that the total value of the company is likewise increasing with increasing the overall incomes. (Unknown, 2013).
Another financial analysis of the company using the offered information might be the analysis concerning the distribution of overall revenues of the business. Major part of the incomes of CMP comes from the sales of its released books i.e. 64% as shown in the Case Appendix V. The company might move towards other service segments with a possible growth to attain its future development objective.
PESTEL Analysis
PESTEL analysis might be conducted to discover the various external forces impacting the efficiency of the company and the current patterns in the external environment of the business. A quick PESTEL analysis of the business is offered as follows; (Alanzi, 2018).
Political.
As the publishing sector might have a substantial impact on the state of mind of the people about the communist ideology of the federal government, therefore, the publishing sector is extremely supervised and guided by the Publicity Department of the Communist Celebration of China. It might be said that the total political forces impacting CMP business are high. The government policies concerning the publishing sector are also increasing with the passage of time.
Cost-effective.
Financial forces affecting the publishing sector in basic and the CMP in particular includesthe prices of paper, the income level of customers, the inflation rate, and the overall GDP growth of the nation. All these forces combine effect the demand for the publishing market.
Social and Demographical.
Social and demographical forces include the population development, the customer's choices towards checking out useful products and so on. China has the highest population on the planet with a high population growth, showing the increasing variety of customers of the What Successful Project Managers Do Case Study Analysis. Nevertheless, the customer choices are shifting towards digital publishing instead of the standard was of publishing. In this regard, CMP ought to concentrate on digital publishing to meet the changing consumer preferences.
Technological.
Technological forces impacting the CMP consist of the technological advancement in the reading strategies and so on. Enhancement of science and technology together with the rise of digital publishing could lower the need for the CMP items, if particular actions would not be taken soon.
Environmental.
Environmental forces impacting What Successful Project Managers Do Case Study Analysis consists of the issues of ecological communities over the usage of paper in publishing books. The paper utilized in the books while publishing is required to be disposable and the ink used while publishing needs to not be damaging for the environment.
Legal.
Legal policies for the publishing sector at whole are high. Publishing Regulation 1997 requires the publishers to be approved first by the Government to be entered in the publishing market.
Industry Analysis (Porter's Five Forces Design).
Porter's Five Forces Design could be used to analyze the attractiveness of the publishing industry China. A short analysis of the Porter's 5 Forces is provided as follows;.
Risk of New Entrants.
Threats of new entrants in the Chinese Publishing Market is moderate. The prospective development in the market tends to bring in brand-new entrants to the publishing market. The presence of extreme competitors and the requirement of big capital tends to demotivate brand-new entrants to enter in the market.
Threat of Alternative.
Risk of Substitution is high for the Chinese Publishing Industry. The alternative products for the published documents is the files presented in the virtual libraries on particular websites. The altering consumer preferences towards digital learning increase the threat of replacement for the market.
Competitive Competition.
Competitive rivalry in the publishing market is high. The existence of large number of customers in the Chinese Publishing Market like CIP, PTP etc. tends to produce high competitive rivalry for CMP. Together with it, new entrants are also participating in the marketplace increasing the competition for CMP.
Bargaining Power of Provider.
The major suppliers of the What Successful Project Managers Do Case Study Help include the suppliers 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 Buyer.
Negotiating 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 marketplace saturation, the purchasers requires high quality documents at competitive costs.
Rivals Analysis.
CMP operates in a highly competitive market with the presence of a great deal of rivals. However, the company has a competitive position in the market with the highest market share in the Chinese publishing market. Significant rivals of What Successful Project Managers Do Case Study Solution include;.
• Chemical Market Press (CIP).
• Posts and telecommunication Press (PTP).
Chemical Industry Press (CIP).
CIPis among the close rivals of CMP. Founded in the same period, CIP releases comparable type of books. For a large period, CIP held the biggest market share, and still ranks second and 3rd in various market sectors, with a major focus on academic publications. CIP serves 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 market share of What Successful Project Managers Do Case Study Solution quickly in the present market scenario.
Posts and telecommunication Press (PTP).
Another close rival of CMP is PTP. It was likewise established in the same period as CMP and CIP. It ranks 6th in the state-owned publishers in terms of business scale. It is also among the prominent gamers in the publishing market with an annual total earnings of RMB 550 million in 2010.
Alternatives
Alternative-1: Expand towards New Markets
Pros
• Lowering dependence over the Chinese markets.
• Increasing variety of Consumers
• Growth chances.
• Preventing the effect of market saturation in the Chinese publishing industry.
Cons
• Usage of possible resources in growth.
• Danger of failure in brand-new markets.
• Time consuming.
Alernative-2: Present Digital Publishing
Pros
• Sustaining consumer base.
• Approaching new markets.
• Easy to introduce using current capabilities.
• Low risk of Failure.
• Low requirement for funds.
• Increased product portfolio offers high worth to clients.
Cons
• Competitors in the market by CIP, who has prior focus on the digital publishing.
• Shift of focus from the core organisation sectors to the brand-new one can lead the business to lose demand of its items in the market.
Recommendations
As the choices are moving towards digital publishing and the business require an instant option to avoid the declining market growth. The company could also consider the expansion program after the success of its digital publishing program.
Execution
In order to present digital publishing in its product portfolio, the business needs to first collects the data related to the customer need, the potential markets, the federal government guidelines and the information related to the competitors provided in the market. If the initial offering shows a success, the company ought to go for the other markets. In this way the business would be able to execute its digital publishing program.
Conclusion
The growth of the publishing market is decreasing considering that 2008, showing a risk to the business's long term presence, however the circumstance can be controlled by thinking about a development strategy in the future. The company might think about presenting digital publishingin its existing market to implement its advancement program at immediate basis and to avoid the threat of failure for entryway in the brand-new markets.
