How to win in the small woodware industry in China?

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How to win in the small woodware industry in China?

 

Author: Liu, Tong
Title: How to win in the small woodware industry in China?
Degree: M.Sc.
Year: 2007
Subject: Hong Kong Polytechnic University -- Dissertations
Customer relations -- Management
Lumber trade -- China -- Management
Forest products industry -- China -- Management
Department: Dept. of Computing
Pages: 152 leaves : ill. ; 30 cm.
InnoPac Record: http://library.polyu.edu.hk/record=b2146395
URI: http://theses.lib.polyu.edu.hk/handle/200/5362
Abstract: The main purpose of this report is to identify what new business strategies can be adopted to consolidate its existing overseas market share as well as to gain the greatest success in China for Fang Lin Hung Enterprise Co., Ltd, Taiwan. (Referred to as Fang Lin Hung Enterprise or Fang Lin Hung or FLH hereafter) This report also sets up a strategic framework that can be used by any foreign company that wishes to enter the Chinese markets to analyse, assess and generate appropriate business strategies. Specific objectives of this report are to help Fang Lin Hung find business strategies of staying competitive in the existing overseas markets; to assess its strengths and weaknesses in respect of the Chinese market; to identify the opportunities and threats from the Chinese environment; to investigate the country risks in China; to suggest appropriate strategic postures; to formulate new business concepts/strategies; to survey if the CRM strategy works in the competitive environment; to make proposals for next step. The report suggests FLH focus on two business concepts “Customer-centric” and “CSR”. By adopting and implementing an advanced CRM system, Fang Lin Hung can acquire a new business strategy to understand and influence customer behavior through meaningful communications in order to improve customer acquisition, customer enhancement, and customer retention so that customer profitability and customer loyalty will be improved. This report started an extensive survey on CRM implementation. The Questionnaire One is a survey on CRM system application in various business to business manufacturing companies, who have already deployed web-enabled CRM systems, in order to identify the practical performances in SMEs in China. The Questionnaire Two is to identify the possible impacts on the operations or reflections from Fang Lin Hung's existing or potential customers throughout the world. The questionnaire Three is an internal survey on CRM system application in order to identify the possible impacts on each division or their employees. By analyzing the three questionnaires, we can verify adopting CRM can be a practical and effective business strategy to help Fang Lin Hung to be successful in China and the global market. The “CSR” concept refers to Corporate Social Responsibility. Fang Lin Hung Enterprise should link its business strategies to the CSR concept so that it can effectively improve its corporate image/brand, customer loyalty, employee morale, profitability and meanwhile obtain sustainable timber resources. A win-win situation can be created, and Fang Lin Hung can do well by doing good. The implication of the two concepts for Fang Lin Hung Enterprise is to establish systematic marketing plans to present and promote itself. They can help Fang Lin Hung secure its existing overseas market share and meanwhile develop the Chinese market successfully. The framework can also be used by Fang Lin Hung Enterprise at other times should the company need to reassess its market entry strategic options.

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