As I am doing an MBA and part of that curriculum, we have a guest lecture on every Thursday afternoon. Last week, we had similar lecture where I got chance to meet this lecturer who is marketing and commercial director of one of the printing organization in UK. Thus, he made us come across one of the real time and very interesting case study of business where I felt like that somebody has stood up right up and asked me do you think you can find answer for everything then try to answer this one..??
Background of person: He works in Printing Industry where his organization just prints the books for top class publishing houses; which also includes distribution of these books to retailers or customers.They have several firm and big clients like Bloomsbury Publishing (Harry Potter Publisher), Penguin Publishing
Question: If you become a board of member of one of such printing company and company asks you to draw the strategy for next 10-20 years. What you will do? (Except selling)
I understood the concern and did try to answer it somewhat but honestly speaking even I am not satisfied with my own answer. So, I have decided to put forward the same question in front of you. I will be pleased if you have anything to share or answer on this.
For this, I had a deep look on their current strategy where I found they actually have only one competitor in current market but they have hell lot of problems coming over in future given as follows:
1. Digital printing technology (they have adapted this one now)
2. EBooks conversion from Physical books
3. Increasing love fever towards IPADS.
4. Continuous innovation in technology which are removing
5. Top class book maker somebody like Oxford Dictionary also stopped printing of books and asking people to subscribe online or have it in electronic format. Following the trend.
6. Social awareness towards nature adding fuel to it by saying stops the use of paper.
7. Adaption to climate changes policies and regulations
And so many..such problems has suddenly piled up against this SME scale businesses. Did anybody bother thinking any future for these people? Is government is the final answer for this question? The company, I am talking about is having more than 700 employees working hard to make produce best seller novels, best literature and all kind of books. Many of them earn all the joy and hand-to-mouth for their families from this organization only.
But as I mentioned earlier interestingly here in this case this company do see the possible threat upcoming for them but they don’t know how to answer them or may be don’t know what shall they consider because of these uncertainties or changes like if IPAD fever will increase or people will prefer having physical book to read for more reading satisfaction. Frankly saying nobody knows which way the time and people will shift and hence what should be the risk strategy now or how long should they execute this current business? In short, how long they should keep producing books and does this upcoming new technology medicine or poison for their company? Big Questions to answer..aren’t they..?
Perhaps, all I can say now is that only time can give the best answer for these questions.
