Business Report.docx

Business Report.docx

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BusinessReport

FortuneGarments

Teamleader:

Teammember:

FinishDate:

May8,2012

Tableofcontents

1.Introduction………………………...1

2.Finding&solution…………………2

3.Finding&solution…………………5

4.Conclusion……………………….....7

Introduction

FortuneGarments,oneofHongKong’soldesttradinggroups,makeshighqualityclothing.Ithasbecomeaglobalcompany:

ithasover3,000suppliersin17countries,andemploysstafffromallovertheworldinitsheadofficeandfactories.ItisexpandingrapidlyinforeignmarketswithsalesofoverUS$1.8bn.

Fastdelivery,innovativedesign,andreliablequalityareessentialforsuccessinthefashionbusiness.FortuneGarments’Chairman,MichaelChau,isproudthathiscompanycanusuallyacceptamajororderanddeliverthegoodstoacustomerwithinfourweeks.However,globalizationhasbroughtproblemsinthecompany’soverseasplants,andthisishavingabadeffectonitsshareprice.

Finding&solution

1.Qualitycontrol

Manysubsidiariesmakeclothingfrommaterialssuppliedbyseveralofthecompany’splants.Althoughthishelpstolowercosts,thematerialsareoftenofpoorquality.

2.Respondingtocustomerneeds

FortuneGarments’subsidiariesarenotrespondingquicklytocustomers’needs.Whencustomerswantlast-minutechangestoclothing,theplantscannotmeetcustomers’tightdeadlines.

3.Design

Asthecompanybecomeslarger,itseemstohavelostitscreativeenergy.Itslatestcollectionsweredescribedbyafamousfashionexpertas‘boring,behindthetimesandwithnoappealtoafashion-consciousbuyer.Theproblemisthatideasarenotsharedbetweenthecompany’sdesigners.There’snotenoughcontactbetweendesignersatthedifferentproductioncenters.Thedesignersnevermeetorphoneeachotherandtheyrarelytravelabroad.

Amongthosethreeproblems,Ithink“Qualitycontrol”isthemostserious.Products’qualityisthelifeofacompany,alsothesoulofacompany.Goodproduct’squalityisthekeytosurviveinsuchacompetitivemarketfromitsbirthtogrowstronger.Fromtheperspectiveofacompany’sdevelopment,goodproducts’qualityisthepremiseforacompanytocreateitsownbrand.Fromtheperspectiveofcustomersandsocialpublic,theproducts’qualityisalwaysrelatedtotheirpersonalsafety.So,agoodcompanyoughttoprotectcustomers’safetywithgoodproducts’quality.Whetherathomeorabroad,everyfamouscompany,theirproductsorserviceswillbeunabletosurvivewithoutgoodquality.Ifacompanywantstosurvivelongerandtobethetopoftheirindustry,theymustdomuchbetterworkinproducts’quality.

Ifacompanyjustfocusesontheappearanceoftheirproducts,andignorestheirquality,theywillneverbesuccessful.Maybe,atfirst,theywillhavealotofcustomersaspeopleoftenjudgeoneproductbyappearanceatthefirsttime.Butafteraperiodtimeofusing,theymayfindtheproducthasalotofproblems,thustheywillbedisappointedatit.Even,theywilltelltheirfriendsnottobuyit.Itwillcausesharpnegativeeffectsontheirreputation.So,evendesignwithfashionableappearancebutwithoutgoodqualitywillneverlastlong.

Ifacompanydoesagoodjobinproducts’quality,thespeedtheyrespondtocustomerswillnotbesuchserious.Goodqualityistheguaranteeofgoodsales.Ifabitlongeroftimecangetbetterquality,thecustomerswillthinkitworthtowait.Goodqualityalsorepresentstheattitudeofthecompany.Eventheirrespondingspeedisslow,theircustomerswillunderstandthemfortheirseriousandcarefulattitude.

AsfarasIamconcerned,toincreasethesales,wemustcontrolourproducts’qualityinthesamestandard.Whetherthemainpartsofthecompanyorsubsidiariesshouldmakeclothingfrommaterialssuppliedbythesamehighqualityplants.Eventhiswillcostalargeramountofmoney,itwillbeworthprovidingcustomerswithhighqualityproducts.

Then,theappearancesofourproductsarealsoimportant.Ourdesignersarelackofcontactbecausetheyareatdifferentcenters.Soconstructinganetworktosharetheirideasisquitenecessary.Itwillmaketheirideasmorecreativeandfashionable.

Finding&solution

Management

1.Underpaidmanagersandundervaluedcontribution

2.Shouldhaveaprofitsshareof5%~10%

3.Enoughfreedomoverfinance,payandsourcesofmaterials

4.Moreadviceonqualitycontrolandmorecontactwithstaff

Factoryworkersandadministrativestaff

1.Healthandsafetyregulationsarenotbeingproperlyobserved

2.Inappropriatepayaccordingtolocalrates

3.Overcrowdedandbadlyventilatedstaffoffices

4.Staffofdifferentnationalitiescausecommunicationproblems

Aboutmanagement,theidea“Managersneedmoreadviceonqualitycontrolandwouldlikemorecontactwithstafffromothersubsidiaries”ismoreserious.AsIhavesaidintheformerpart,“Qualitycontrol”isthemostimportantinincreasingthesales.Itisnecessaryformanagerstogetmoreadviceonqualitycontrol.Thus,theproductwillbeproducedinasamehighqualitystandard.Andmorecontactwithstafffromothersubsidiarieswillpromotetheexchangeofideassothatmorefashionableandcreativeideaswillappear.Therefore,theproductwillbemoreattractiveandcompetitive.

Aboutthefactoryworkersandadministrativestaff,theidea“Factoryworkerscomplainabouttheirwages.Theyarepaidaccordingtolocalratesandoftenexpectedtoworkovertimewithoutextrapay”ismoreserious.Inappropriatepaymentwillleadtonegativeattitudeamongfactoryworkers.Whentheyareworking,theywillabreacttheirfeelingintowork,maybetheywillbeimpatientandcarelesswhichdirectlyrelatedtothequalityofproduct.Inordertoproduceingoodquality,factoryworkers’feelingalsoseemstobequiteimportant.

Inmyopinion,togetmoreadviceonqualityandcontractmore,weshouldconstructanetworkinourowncompanysoastosharequalitystandardandideas.Itnotonlyguaranteesthequalityofproduct,butalsopromotesthecomingoffashionableandcreativeideas.Tostabilizefactoryworkers’emotion,ourcompanyshouldawardthosewhoworkharder,andencouragethemtoleadtherestofworkerstobeenthusiastictowork.Inthisway,theworkerswillbeactiveandhappytowork,sothatthequalitywillbebetter,alsothespeedofrespondingtocustomers’needwillbeincreased

Conclusion

Tosolvetheproblemsourcompanyfaced:

Firstly,weshouldcontrolourproductinthesamestandard.Thatistosayweshouldmakeclothingfrommaterialssuppliedbythesamehighqualityplants,becausegoodproduct’squalityisthekeytosurviveinsuchacompetitivemarketSecondly,weshouldconstructanetworkinourowncompanytoshareadviceonqualityandideasinordertodobetterinqualitycontrolandproducemorefashionableandcreativeproductstoattractcustomers’eyes.Thirdly,weshouldestablisharewardingsystemsothatfactoryworkerswillbewillingtoworkharder.Inthisway,bothqualityandrespondingspeedtocustomers’needwillbeincreased.