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.