Tuesday, December 10, 2019

Industry Facts & Figures

Questions: 1. How to enter in a firework industry?2. what part of the industry should get involved in?3. Selling what, to whom? Answers: 1. How to enter in a firework industry? For entering in a Chinese firework industry Mr . Jerry Yu has to analysis the SWOT of the industry are as follows: Strengths Experience and education Background of Chinese. Weakness If there is lack of knowledge and experience in firework industry . Should maintain organizational culture. Opportunities Increasing demand of fireworks New technologies[1] Threats Level of competition High chance of coming new substitutes So, at first he has to analysis all the part of SWOT. 2. what part of the industry should get involved in? Mr. Jerry Yu should involve in supplying raw material of fireworks. He also can approach new designs and he can get a new and huge market. For this he should have to develop a good distribution channels[2]. 3. Selling what, to whom? Initially he purchase the raw material from the wholesale market of China. Then he should import to the other countries because the demand of fireworks is very high in other countries like U.S.A or U.K[3]. 4. why would this be a good strategy for Jerry? This is a good strategy for Jerry because: There is less competition level in the market. No required of well trained and skill labor in the industry. No need of advance technologies and less investment[4]. References Admin, MemberClicks. 'Industry Facts Figures'.Americanpyro.com. N.p., 2015. Web. 13 Feb. 2015. MacLean, Donald, and Robert MacIntosh. 'Strategic Change As Creative Action'.International Journal of Strategic Change Management4.1 (2012): 80. Web. Olivas-Lujan, Miguel R, and Tanya Bondarouk.Social Media In Strategic Management. Bingley, UK: Emerald, 2013. Print. Rothaermel, Frank T.Strategic Management. New York: McGraw-Hill Irwin, 2013. Print. [1] Olivas-Lujan, Miguel R, and Tanya Bondarouk.Social Media In Strategic Management. Bingley, UK: Emerald, 2013. Print. [2] Admin, MemberClicks. 'Industry Facts Figures'.Americanpyro.com. N.p., 2015. Web. 13 Feb. 2015. [3] MacLean, Donald, and Robert MacIntosh. 'Strategic Change As Creative Action'.International Journal of Strategic Change Management4.1 (2012): 80. Web. [4] Rothaermel, Frank T.Strategic Management. New York: McGraw-Hill Irwin, 2013. Print.

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