The study of survival strategies of garment trading companies in Hong Kong : an analysis of small garment trading companies

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The study of survival strategies of garment trading companies in Hong Kong : an analysis of small garment trading companies

 

Author: Chow, Sin-ping Maria
Title: The study of survival strategies of garment trading companies in Hong Kong : an analysis of small garment trading companies
Degree: M.B.A.
Year: 1996
Subject: Textile industry -- China -- Hong Kong
Small business -- China -- Hong Kong
Hong Kong Polytechnic University -- Dissertations
Department: Dept. of Management
Pages: vii, 63 leaves ; 30 cm
Language: English
InnoPac Record: http://library.polyu.edu.hk/record=b1238974
URI: http://theses.lib.polyu.edu.hk/handle/200/5275
Abstract: This project report presents on the results of a study conducted on four Hong Kong small garment trading companies. Its aim was to investigate the survival strategies these companies have been using in the depressing hostile Hong Kong garment industry and world economy. Results indicate that combinations of different strategies - market development, product development, service improvement and differentiation, product improvement and differentiation, costing and pricing strategies, organization restructuring - have been used to enhance the survival and competitiveness of these small garment trading companies in the unfavorable situation. It was found that some companies are successful in their survival while some just marginally survive. However it is very tough and difficult for the garment trading companies of Hong Kong especially the small ones to survive in the present depressing environment. It was found that in order to survive successfully, the most important factor is to have an aggressive, enthusiastic and competent management which understands the business inside out, as well as the environment that the company is facing, both internal (e.g. distinctive competence) and external, in order to direct the business and formulate distinctive survival strategies. It must make the company simple and focused in order to concentrate its efforts and resources. There must be ready cash in the company when it is really needed. Furthermore, the company must differentiate itself to provide excellent and distinctive goods and services that meet its customers' wants and needs.

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