소개글
[경영전략] Megastudy(메가스터디)의 중국진출 전략(영문)에 대한 자료입니다.
목차
Introduction
Entering Chinese market
Company Overview
Problem Identification
Body
Internal Analysis: Strengths and Weaknesses
External Analysis: Five Forces Analysis
Corporate Strategy
Business Strategy
Conclusion
Will it be a success or not?
본문내용
According to the 26th report of Chinese internet development written by China Internet Network Information Center, video related services accounts for 63.2 percent of the most frequently used services on the internet, ranking 6th place. However, illegal downloading of music or video files are very common in China. China has the biggest number of illegal down loaders of music files, according to a research conducted in Midem International Music Festival in 2008. Also according to the research about illegal circulation of Korean drama and entertainment programs, 86 percent of total illegal distribution is done on the Chinese web.
The General Administration of China Optical Film Festival Exhibition strengthened the regulations about illegal circulation of videos online. It established 31 new regulation policies which state the prohibition of uploading online videos without permission, including movies, dramas, animations and academic resources. However, the effectiveness of the regulation is still questionable, so the copyright infringement in China is a considerable threat to Megastudy.
Considering all these factors, our team concluded that the threat of substitutes is high. The threat of private institutes is the biggest among them, but it means that there are more potential customers of Megastudy’s e-learning products in China. However, without product quality control and a solution to the bootleg problem, Megastudy cannot guarantee its success in Chinese market.
Bargaining Power of Suppliers
It is important to think of e-learning industry itself when finding out bargaining power of suppliers. Suppliers could be classified into two categories here in a broad sense. The first one is teachers who supply lectures through the Internet, and the other is IT technology which should be working properly to operate an e-learning business.
First, from the perspective of regarding teachers as suppliers, it can be said that the bargaining power of suppliers is medium at present but rising as well. Teachers could be the most important factor or suppliers for e-learning business companies to thrive. This has been the most pivotal element for Megastudy’s continuous success in Korea. Thus, if Megastudy penetrates into the Chinese market first, there might be no competitors in terms of teachers which are also called ‘star instructors’. However, it is questionable how long Megastudy can enjoy and maintain its success. China, with so many populations, could catch up with Megastudy soon. They will see how Megastudy is doing well and try to acquire or raise more competent instructors. Actually the e-learning business in China has been developing these days. It is estimated that around 23 million people will use this service. However, the service and development of programs may not be able to catch up with this huge increase of demand. Especially, it is said that fostering experts in online education has been a big problem. However, as the Chinese government tries to promote e-learning as a way of eliminating the differences between the rural and urban area, they will find a way or system to solve this problem.
Second, when thinking of the perspective of IT technology, the bargaining power of suppliers is very high. This is somewhat similar to teachers in a sense. Korea is one of the developed countries in IT service. With this development, e-learning services including Megastudy could easily secure their positions and thrive more and more. From this perspective, Megastudy could enjoy their lead position in China without any problems. Although Chinese IT technology is relatively underdeveloped compared to Korea, there has