Canadian Publishing Industry - Research Paper Example

INDUSTRY ANALYSIS PROJECTS Answer The paper is aimed at conducting and industry analysis of the Canadian publishing industry. The importance of publishing industry in the human society is discussed. The publishing industry in different countries acts as major mediums to promote education level in the human society. The publishing industry was traditionally dependent on the print medium which used books, article and journals. But with the advent and popularity of the internet, the publishing industry has adapted the internet as an important tool through which the publishing activities are widely carried out. The scopes, opportunities and contexts of the publishing industry including the Canadian publishing industry are governed by the NAICS codes. But the advent of the internet and the increasing access of the population to the World Wide Web have blurred the geographical boundaries affecting the publishing industry. The value chain of this industry has undergone major changes and has assumed a more complex structure with the changes in the reading preferences of people as well as the changes in the teaching styles in different countries. The distribution channels of the publishing houses have also evolved with the shifting contexts of the industry. The geographical constraints of the publishing industry have been abolished and the importance of quality of publishing has become more critical for companies to survive in this industry. The publishing industry is dependent on achieving economies of scale in their operations and is dominated by the concentrated level of competition. The industry is in the maturity phase which needs to revamp the processes in order to prevent the saturation of the industry and create sustainability and development for the publishing industry. Innovation and balance between print and online publishing are critical factors that decide the scope of the publishing industry. The Canadian publishing industry has been facing major challenges in the changing global scenario. The powerful publishing companies in this industry being more focused on profit reaping rather than following the industry standards and have created certain obstacles in this specific industry. The domestic publishing firms are losing their importance due to the entry and dominance of the foreign publishing houses operating in the Canadian publishing sector. Other issues and boundaries faced in this industry are the achievement of economies of scale and the quick response to the shifting preferences of the consumers of the industry. The balance of power in the industry is biased towards the top performers which makes the industry highly competitive and difficult for the domestic and small publishing houses to flourish. The aspects of globalization have highlighted the importance of responding to the customers’ needs as well as competing with the multinational publishing companies. The need for fulfilling the requirements of the customers and increased value creation for the customers are critical in deciding the existing boundaries and the future opportunities of the Canadian publishing industry. Focusing on both traditional and creative strategies to be implemented in the industry is critical for driving the future scope of the industry. The social, cultural, technological, and environmental and the political perspectives of Canada are factors which set the boundaries in the Canadian publishing industry. The changing aspects of socio cultural activities and approach towards learning and researching have shifted the boundaries of the Canadian publishing industry to new horizons. Answer 2 The publishing industry is a rapidly evolving sector which is seeing new trends, complementary and substitute products which are affecting the profitability, growth, sustainability and customer satisfaction for the industry (PricewaterhouseCoopers, 2010). The landscape of the publishing industry including the Canadian publishing industry is majorly affected by the digital printing and the popularity of the internet. The complementary factors that affect the profitability and the margins of the publishing industry include the visual mediums industry like DVDs and CDs, electronic books, internet services, paper industry, copyrights and the authors. The electronic books are considered as the major substitutes for the hardcover printed books. The ease of access and carrying the e-books are the underlying causes which have facilitated the immense popularity of the electronic books over the printed books. The tie ups of the publishing companies with the renowned authors and obtaining necessary copyrights are other factors which influence the revenues and profitability of the publishing industry. The environmental sustainability of the printing mediums is also critical in deciding the profitability of the printing industries and the satisfaction of the environment conscious customers. The printing mediums are necessarily needed to be compliant with the environmental factors to negate any harmful effects to the environment. The publishing of lightweight books are important in improving the customer satisfaction and loyalty for the industry. The publishing medium is considered as an important medium for communication ad teaching. The printed books as well as the electronic books account for the main modes of teaching implemented in the national and international academic institutions. The supports of the specific state authorities in boosting the publishing industry through financial and legal supporting frameworks are critical in driving the success and sustainability of the publishing industry. A part of the society still prefers printed books for textbook reading as well as for pleasure reading over the electronic books. Many old people are not comfortable with the use of online reading resources and are oriented towards reading printed books. Also, printed books add to the memories and nostalgia factor of human beings. On the other hand, e-books are generally seen as reading mediums devoid of the emotional factors. The visual media including the television and the films are influential in deciding the growth and the profitability of the publishing industry. The influence of popular films directed from books influence people to read the originally published books. The libraries and bookstores are important complementary industries that support the publishing industry to grow and prosper. The tie ups of the publishing houses with big book stores and authors help to improve the growth and competitiveness of this industry. The maintenance of copyrights and intellectual property rights for the published books are critical in ensuring the profitability and sustainability of the publishing industry in the changing global reading perspective. Reference PricewaterhouseCoopers. (2010). Turning the Page the Future of eBooks. Retrieved from http://www.pwc.com/en_GX/gx/entertainment-media/pdf/eBooks-Trends-Developments.pdf. Read More