Book Publishing in United Kingdom: A Strategic Reference, 2006
ICON Group International, July 2007, Pages: 354
How to Strategically Evaluate United Kingdom
Perhaps the most efficient way of evaluating United Kingdom is to consider key dimensions which themselves are composites of multiple factors. Composite portfolio approaches have long been used by strategic planners. The biggest challenge in this approach is to choose the appropriate factors that are the most relevant to international planning. The two measures of greatest relevance to book publishing are “latent demand” and “market accessibility”. The figure below summarizes the key dimensions and recommendations of such an approach. Using these two composites, one can prioritize all countries of the world. Countries of high latent demand and high relative accessibility (e.g. easier entry for one firm compared to other firms) are given highest priority. The figure below shows two different scenarios. Accessibility is defined as a firm’s ease of entering or supplying from or to a market (the “supply side”), and latent demand is an indicator of the potential in serving from or to the market (the “demand side”).
Framework for Prioritizing Countries
Demand/Market Potential Driven Firm
Relative Accessibility
Accessibility/Supply Averse Firm
In the top figure, the firm is driven by market potential, whereas the bottom figure represents a firm that is driven by costs or by an aversion to difficult markets. This report treats the reader as coming from a “generic firm” approaching the global market - neither a market-driven nor a cost-driven company. Planners must therefore augment this report with their own company-specific factors that might change the priorities (e.g. a Canadian firm may have higher accessibility in Canada than a German firm).
Latent Demand and Accessibility in United Kingdom
This report provides a detailed overview of factors driving latent demand and accessibility for book publishing in United Kingdom. Latent demand is largely driven by economic fundamentals specific to book publishing. This topic is discussed in Chapter 2 using work carried out in United Kingdom on behalf of American firms and authored by the United States government (typically commercial attachés or similar persons in local offices of the U.S. Department of State). I have included a number of edits to clarify the provided information. Latent demand only represents half of the picture. Chapter 2 also deals with micro-accessibility for book publishing in United Kingdom. I use the term “micro” since the discussion is focused specifically on book publishing.
Chapter 3 is a stand-alone report covering a proxy trade indicator that I have authored. Often, the amount of trade flowing into and out of a country is a strong indicator of trading partners, trade openness, and related latent demand. Chapter 3 is purely statistical in nature and covers printed books, pamphlets, maps, and globes excluding advertising material. Although international trade for printed books, pamphlets, maps, and globes excluding advertising material is not a direct measure of latent demand for book publishing, it does provide a proxy indicator of general market conditions with respect to trade flows and trade openness in United Kingdom in a related category. The methodology for this report is discussed in the introduction of Chapter 3.
Chapter 4 is also a stand-alone report that I have authored. It covers proxy pro-forma financial indicators of firms operating in United Kingdom. I use the word “proxy” because the provided figures only cover a “what if” scenario, based on actual operating results for firms in United Kingdom. The numbers are only indicative of an average firm whose primary activity is in United Kingdom. It covers a vertical analysis of the maximum likelihood balance sheet, income statement, and financial ratios of firms operating in United Kingdom. It does so for a particular Standard Industrial Classification (SIC) code. That code covers “book publishing and printing”, as defined in Chapter 4. Again, while “book publishing and printing” does not exactly equate to “book publishing”, it nevertheless gives an indicator of how United Kingdom compares to other countries for a proxy adjacent category along various dimensions.
Chapter 5 deals with macro-accessibility and covers factors that go beyond book publishing. A country may at first sight appear to be attractive due to a high latent demand, but it is often less attractive when one considers at the macro level how easy it might be to serve that entire potential and/or general business risks. While accessibility will always vary from one company to another for a given country, the following domains are typically considered when evaluating macro-accessibility in United Kingdom:
Openness to Trade in United Kingdom
Openness to Direct Investment in United Kingdom
Local Marketing and Entry Strategy Alternatives
Local Human Resources
Local Risks
Across these domains, a number of not-so-obvious factors can affect accessibility and risk. These are covered in Chapter 5, which is a general overview of investment and business conditions in United Kingdom. Chapter 5 is also presented from the perspective of an American firm, though is equally applicable to most firms entering United Kingdom. This chapter is also authored by local offices of the U.S. government, as is Chapter 2. Likewise, I have included a number of edits to clarify the provided information as it relates to the general strategic framework mentioned earlier.
1 INTRODUCTION & METHODOLOGY 1
1.1 What Does This Report Cover? 1
1.2 How to Strategically Evaluate United Kingdom 1
1.3 Latent Demand and Accessibility in United Kingdom 3
2 BOOK PUBLISHING IN UNITED KINGDOM 5
2.1 Latent Demand and Accessibility: Background 5
2.2 Latent Demand: Aspects of Interest 5
2.2.1 Market Composition 5
2.2.2 Market Data 6
2.2.3 Leading Segments 6
2.3 Accessibility: Key Factors 8
2.3.1 Import Market 8
2.3.2 Export Market 8
2.4 Accessibility: The Structure of Competition 8
2.4.1 Key Suppliers 8
2.4.2 Market Entry 9
2.4.3 Marketing and Distribution 9
2.4.4 Distribution Strategies 10
2.4.5 Contracts and Rights 11
2.4.6 Market Issues and Obstacles 11
2.4.7 Value Added Tax (VAT) 12
2.5 Key Contacts 12
2.5.1 Trade Events 12
3 TRADE INDICATORS: PRINTED BOOKS, PAMPHLETS, MAPS, AND GLOBES EXCLUDING ADVERTISING MATERIAL 13
3.1 Overview 13
3.2 United Kingdom and the World Market 14
3.2.1 Imports in United Kingdom in 2007 14
3.2.2 Exports from United Kingdom in 2007 15
3.3 Imports in United Kingdom: Printed Books, Pamphlets, Maps, and Globes Excluding Advertising Material 16
3.3.1 Africa 16
3.3.2 Asia 20
3.3.3 Europe 34
3.3.4 Latin America 64
3.3.5 N. America & Caribbean 68
3.3.6 Oceana 73
3.3.7 The Middle East 74
3.4 Exports from United Kingdom: Printed Books, Pamphlets, Maps, and Globes Excluding Advertising Material 83
3.4.1 Africa 83
3.4.2 Asia 94
3.4.3 Europe 108
3.4.4 Latin America 143
3.4.5 N. America & Caribbean 155
3.4.6 Oceana 159
3.4.7 The Middle East 162
4 FINANCIAL INDICATORS: BOOK PUBLISHING AND PRINTING 171
4.1 Overview 171
4.1.1 Financial Returns and Gaps in United Kingdom 172
4.1.2 Labor Productivity Gaps in United Kingdom 175
4.1.3 Limitations and Extensions 175
4.2 Financial Returns in United Kingdom: Asset Structure Ratios 176
4.2.1 Overview 176
4.2.2 Assets - Definitions of Terms 176
4.2.3 Asset Structure: Outlook 179
4.2.4 Large Variances: Assets 180
4.2.5 Key Percentiles and Rankings 183
4.3 Financial Returns in United Kingdom: Liability Structure Ratios 198
4.3.1 Overview 198
4.3.2 Liabilities and Equity - Definitions of Terms 198
4.3.3 Liability Structure: Outlook 200
4.3.4 Large Variances: Liabilities 201
4.3.5 Key Percentiles and Rankings 204
4.4 Financial Returns in United Kingdom: Income Structure Ratios 217
4.4.1 Overview 217
4.4.2 Income Statements - Definitions of Terms 217
4.4.3 Income Structure: Outlook 220
4.4.4 Large Variances: Income 221
4.4.5 Key Percentiles and Rankings 224
4.5 Financial Returns in United Kingdom: Profitability Ratios 239
4.5.1 Overview 239
4.5.2 Ratios - Definitions of Terms 239
4.5.3 Ratio Structure: Outlook 242
4.5.4 Large Variances: Ratios 243
4.5.5 Key Percentiles and Rankings 246
4.6 Productivity in United Kingdom: Asset-Labor Ratios 259
4.6.1 Overview 259
4.6.2 Asset to Labor: Outlook 260
4.6.3 Asset to Labor: International Gaps 261
4.6.4 Key Percentiles and Rankings 264
4.7 Productivity in United Kingdom: Liability-Labor Ratios 279
4.7.1 Overview 279
4.7.2 Liability to Labor: Outlook 280
4.7.3 Liability and Equity to Labor: International Gaps 281
4.7.4 Key Percentiles and Rankings 284
4.8 Productivity in United Kingdom: Income-Labor Ratios 297
4.8.1 Overview 297
4.8.2 Income to Labor: Outlook 298
4.8.3 Income to Labor: Gaps 299
4.8.4 Key Percentiles and Rankings 302
5 MACRO-ACCESSIBILITY IN UNITED KINGDOM 318
5.1 Executive Summary 318
5.2 Economic Fundamentals and Dynamics 318
5.2.1 Principal Growth Sectors 318
5.2.2 Government Intervention Risks 319
5.2.3 Infrastructure 319
5.3 Political Risks 319
5.3.1 Political Relationship with the United States 319
5.3.2 Politics and the Business Environment 320
5.3.3 The Political System 320
5.4 Marketing Strategies 320
5.4.1 Creating a Sales Office 320
5.4.2 Creating a Joint Venture 321
5.4.3 Agents and Distributors 321
5.4.4 Hiring Local Counsel 321
5.4.5 Checking Bona Fides 321
5.4.6 Distribution and Sales Channels 321
5.4.7 Franchising and Direct Marketing 322
5.4.8 Selling Strategies 322
5.4.9 Pricing and Licensing Issues 323
5.4.10 Advertising and Trade Promotion 323
5.4.11 Government Procurement 324
5.5 Import and Export Regulation Risks 324
5.5.1 Membership in Free Trade Arrangements 324
5.5.2 Tariff and Non-Tariff Barriers 325
5.5.3 Prohibited Imports and USG-Imposed Export Controls 325
5.5.4 Import Taxes and License Requirements 325
5.5.5 Customs Regulations and Contact Information 325
5.5.6 Temporary Goods Entry Requirements 326
5.5.7 Labeling Issues 326
5.5.8 Warranty and Non-Warranty Repairs 326
5.5.9 Free Trade Zones and Warehouses 326
5.6 Investment Climate 327
5.6.1 Openness to Foreign Investment 327
5.6.2 Conversion and Transfer Policies 328
5.6.3 Expropriation and Compensation 328
5.6.4 Dispute Settlement 328
5.6.5 Political Violence 328
5.6.6 Performance Requirements and Incentives 329
5.6.7 Right to Private Ownership and Establishment 329
5.6.8 Protection of Property Rights 330
5.6.9 Regulatory System 331
5.6.10 Bilateral Investment Agreements 331
5.6.11 OPIC and Other Investment Insurance Programs 331
5.6.12 Labor 331
5.6.13 Foreign Trade Zones and Free Ports 332
5.6.14 Major Foreign Investors 332
5.7 Trade and Project Financing 333
5.7.1 The Banking System 333
5.7.2 Foreign Exchange Control Risks 333
5.7.3 General Availability of Financing 333
5.8 Travel Risks 333
5.8.1 Local Business Practices 333
5.8.2 Travel Advisory and Visas 334
5.8.3 Infrastructure for Conducting Business 335
5.8.4 Country Data 337
5.9 Key Contacts 337
5.9.1 U.S. Embassy Trade-Related Contacts 337
5.9.2 Bilateral Business Councils 339
5.9.3 UK Trade and Industry Associations 339
5.9.4 UK Government Offices 340
5.9.5 UK Commercial Banks 342
5.9.6 Multilateral Development Banks 343
5.9.7 Washington D.C.-Based U.S. Contacts 343
6 DISCLAIMERS, WARRANTEES, AND USER AGREEMENT PROVISIONS 345
6.1 Disclaimers & Safe Harbor 345
6.2 Icon Group International, Inc. User Agreement Provisions 346
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