1. Describe the competing business models of traditional textbooks and etextbooks. How do the customer value propositions of the two textbook formats compare? How are the profit formulas of paper textbooks and etextbooks different?
The business model of a traditional textbook noticed that they needed growth to keep up in the competing market so traditional textbook companies began to innovate from just a traditional textbook to now having add on to the books such as platforms. Textbook companies were faced with not only other traditional textbook companies but also etextbook companies, rentals, and students selling there books. The organizations have to continue to make sure that customer value propositions are met or they will begin
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There is competition amongst Mcgraw-hill and Pearson and other big companies to make a profit and stay in business, there is competition with new entrants in both textbook and etextbook companies, There is also a competition of innovation and which company will meet its target audience’s demand. Also competition of substitute products such as rent textbooks, used textbook and etextbook that almost over shadowed the traditional textbook companies business. Of the five forces of competition I believe that the competitive pressures associated among rival sellers in the industry is the strongest. I do not believe that of the five forces there is a weak one.
4. What factors are driving change in the textbook industry? What is your assessment of the impact of these driving forces of change?
The factors that are driving change the textbook industry are the amount of technology that is used amongst students today such as ipads, kindles and laptops and the demand for online textbooks for convenience. Another driving change in the addition to textbook industry is the platform such as the McGraw-Hill Connect and the Learn Smart.
My assessment of the impact of these driving forces of change is that the textbook company should innovate and move towards more electronic textbooks because as technology becomes more prevalent
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.
Suppose you are a textbook publisher with a mandate to reduce the weight of the books you put out. Research has shown that your books break backs, and the legislature has spoken: your books will not be adopted (and you will, therefore, lose much of your business) unless you clear strict weight limits.
* Evaluate the influences of changing economic, political, social, cultural, and technological forces on business and society.
Ethan Senack, a higher education associate at U.S. PIRG (Public Interest Research Group), wrote in his article titled, “Fixing The Broken Textbook Market: How Students Respond To High Textbook Cost And Demand Alternatives.” Whereas, he suggest that the problems associated with high pricing on textbooks, has nothing to do with the student. However, he feels that the students would be the most effective in seeking lower prices for textbooks. He gave several examples of colleges that are overcoming this barrier. One successful example he used was Maryland Open-Source Textbook (MOST). The university staff, professors and students worked together to generate ideas to reduce the cost of textbooks, using the use of open textbooks (16).
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.
While we are in demand of textbooks for our courses, the closest option for us with the greatest supply just so happens to be the bookstore
There is strong rivalry in each of the SBUs, there are many big brands including supermarkets and specialists as well as independent retailers and online retailers. There have been in the recent year's considerable price wars on books in an attempt to maintain market share in an increasingly cramped market.
In what ways are the ideas and/or issues presented in the article related to the textbook reading? In what ways are they similar? In what ways are they different?
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.
Many educators are embracing the use of electronic textbooks for a variety of reasons. Ken White, an instructor at Everett Community College, points out that some older students may have a hard time transitioning to e-textbooks but younger generations of students will be much more successful at making the conversion (Moving towards virtual textbooks). The trend seems to be that electronic devices of all sorts are becoming more and more popular. As these devices continue to permeate our culture, integrating them as soon and as frequently as possible into the classroom will help students adjust to using them now and in the future. White even uses the new textbook format because, “[Electronic textbooks] make me really look at my teaching” (Moving towards virtual textbooks). As a teacher, he is adopting the trend of going digital. By re-evaluating his teaching method, he will be able to approach his subject from a different angle that might be more
The market for textbooks is constantly changing. As the demand for certain features in textbooks increases each supplier in the supply chain’s role will change and evolve. Authors need to be aware of the needs of the universities; books need to be concise yet full of information. Authors continuously need to update data and information in all textbooks. Text editors need to keep up with the authors and the ever changing data and information provided to students in textbooks; they need to be able to adapt to other forms of text as well such as e-books. As technology evolves as does the need for better graphics in textbooks. Many students are visual learners and graphic designers need to be aware of this. We have certainly come a long way in terms of graphics in textbooks and the need will only keep increasing. Printing companies also need to be kept in the know, and possibly develop new technology to make it easier to predict the demand for each textbook and even the possibility of e-books being the dominant form of text. As the industry grows and changes as will the roles of each supplier and everyone needs to look toward the future and realize the changes that are happening.
Fletcher, Geoffery H. "Making the Big Shift." T H E Journal 38.6 (2011): 16-18. Education Research Complete. Web. 17 Oct. 2013.
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.
Today, schools are being pressured more and more to improve the technology they use and teach in the classrooms. Parents are placing this pressure on schools so that their students have the skills needed to compete in the real world job market. Students are placing pressure on the schools to improve technology by having more knowledge of
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,