Key Challenges Facing The Canadian Book Publishing Industry Essay

authors are taking up a huge portion of the market and therefore more beneficial for

Jean’s Rare Books is located all over the country and they provide a chain of stores with the desire and need to elevate their business to Canada and more. The location that they have chosen has a strong culture and rich history and this will have a major impact on the ethical and moral decision made by the company. The country and the personnel where the company operates, has a direct relationship with how the company should move forward ethically and morally. It’s the company desire to increase the reading ability in the area where they do business. When it comes to doing business in a foreign country, the guidelines and regulation can become a major problem and

In contrast to Borders Group, Barnes & Noble which is a leading bookstore in the US recorded an 11% increase in their share value in the past year with the introduction of their e-book reader “Nook”. It is clear that Barnes & Noble were not “Myopic” in their approach and were able to retain and even grow their customers as well as profits by embracing a new product.

The bookstore chain has been decreasing in profit in the US over the past 20 years. Most of the books retailers are shutting down their operations and only a few are still operating in the country. Barnes and Noble has become the largest bookseller in the book retailers industry. The firm has integrated its business philosophy into web presence though eBook marketplace. This business strategy assisted the firm to be able to reach a large scale customers and remain as a strongest competitor in the book retailing market.

Strategic planning is a critical element of an organization’s annual business plan. A strategic plan consists of a number of components. In addition to analyzing a company’s strengths and weaknesses, a strategic plan also includes implementation and control techniques. While this may seem easy enough, implementing a strategic plan into an organization can be challenging. Barnes and Noble, like a number of corporations are seeking ways to improve productivity and profitability. This essay will identify business alternatives for the bookseller which will enable them to diversify their product offerings.

2-B&N and the book publishers are changing their business models to deal with the Internet and e-book technology by B&N developing its own e-readable devised called Nook. In order to meet demand and supply, they started to be actively in control of its supply chain by developing,

The book market is in fact growing ‘with the exception of weak fortnights in both March and April, sales figures for the overall book market have shown sustained growth in 2005. ...

Better World Books (BWB) was founded in 2002 as a B corporation, meaning it targets successful performance in three fundamental areas: financial, social, and environmental endeavors. BWB has grown successfully since its creation as a small, socially motivated firm to one of the larger, more successful corporations of its kind. Despite the impressive and inspiring performance and growth through creative expansions, BWB acknowledges the changing conditions of the used book marketplace and is pleased to outline a brief review of current strategy and recommendations for supporting operations moving forward.

Government has introduced some policies to protect the publishing industry. According to National Book Policy which adopted in 1985, it proposed that the book industry should be recognized as an essential industry and, therefore, support must be given for its development. Moreover, the Government policy towards local printing and publishing industry was meant to give ‘protection’ to the industry.

Barnes & Noble are taking different tacks with regard to agreements with authors agents, and publishers. Amazon is pulling content off the market and padlocking it to their Kindle. In response, Barnes & Noble is refusing to stock Amazon published titles in its brick-and-mortar stores. Barnes & Nobles' investment in the well-received, well-reviewed Nook appears to have been a solid business decision, the ripples of which will continue to be felt for some time. In fact, the Nook is the proverbial finger in the dike as the waters of Amazon continue to threaten the very infrastructure of the publishing business by eroding the relationship between publishers and bricks-and-mortar stores.

Barnes & Noble, Inc. operates as a content, commerce, and technology company in the United States. It provides access to books, magazines, newspapers, and other content through its multi-channel distribution platform. The company sells its products directly to customers through its bookstores and on barnesandnoble.com. Barnes & Noble conducts its online business through Barnes & Noble.com, one of the Web’s largest e-commerce sites, which also features more than 3 million titles in its eBookstore.  Through Barnes & Noble’s NOOK eReading product offering, customers can buy and read eBooks on the widest range of platforms, including NOOK eBook

The Canadian economic climate is holding strong as it has had no recent recessions or depressions. It is currently ranked 21st in the world for GDP per capita which is above Australia at 23rdth. Canada’s GDP per capita is currently sitting at $41,100 which is above Australia which is sitting at $40,800. Having a high GDP per capita means that there is current growth in the economy and tends to translate as an increase in productivity. (Investopedia) What is contributing to Canada having a good GDP? The unemployment rate in Canada is higher than Australia’s by 0.4%. This will be beneficial to Penton Publishing as it means there will be more people looking for work, and will therefore be easy for Penton Publishing to recruit workers. This may also create some issues for Penton Publishing as there may not be as many people who have the money to buy the books. Canada’s export growth is currently lower than Australia’s, but is expected to rise, creating a boom. (Organisation for Economic , 2015) Penton Publishing will benefit from this as competition will be less competition benefit from this as they can export their books to overseas markets as productivity will have increased. Over the past year, the Canadian dollar has remained strong fluctuating by only 8.56% from $1.02299 to $0.94236. (Xe, 2015) This means that if revenue is made in Canadian dollars, the

The seller of digital textbooks will also be saving money over producing hard copies. 32% of the cost allocated to paper, printing and editorial can be completely eliminated along with 22.4% of costs related to bookstore operations and personnel. Bookstores as we know them could become obsolete or transformed into stores that sell tablets, e-readers and software packages on campus. Publishers or sellers will now be able to tap into a more global market with electronic textbooks as the information can be translated into many languages quickly.

1   -­‐ -­‐ -­‐ -­‐ -­‐ Hard  Copy  Heritage  Value:  “Best  Sellers”  and  Classic  in  this  Print  Form   will  increase  in  value  with  time  and  become  legacy/heritage  items  for   families,  personal  collecting  -­‐  Hard  Book   Copies  will  not  go  away  and  will   be  much  like  the  Vinyl  33  in  the  record  industry.   Innovate  and  create  their  own  direct  path  to  market  –  Publishers  can   avoid  and  eliminate  middle  players  (Amazon,  Apple,  etc.)  and  go  directly   to  customers  through  social  media  channels  –  a  home  page  on  web,   tweeter,  Facebook  can  be  used  for  promotion,  sales,  and  distribution  of   Publisher  end  products  for  quicker  and  more  direct  sales  –  moving  away   from  mortar  and  bricks  to  on-­‐line  methods.

The second option involves entering the book production business. But, its potential is unlimited. Here we are dealing with huge market consisting significant figures of 50,000 new titles and 1,500,000 repeat titles a year. Moreover, the market for on demand and short run books is extended beyond the life cycle of normal book. This makes market interesting in terms of extent it can expand to.