In recent years, Chinese mould companies are attacked by the global financial crisis. Luo Baihui, the head of suppliers of international moulds, pointed out that Chinese mould enterprises should face this reality and meet these challenges. He suggested that they should make analysis on the situation, develop strategies, and adjust the structure, etc. There are many aspects that the mould companies should take into consideration.
Firstly, mould companies should pay close attention to industry trends, sales situation and trends of policies. For example, in order to expand the domestic demands, improve the living standard, and stimulate consumption, the state invested 15 billion to implement the subsidy policies. In addition to this, the state also promotes the policy of “home appliances to the countryside”; moreover, it will also implement the policy which is about “revitalization of steel and automobile”. These all bring a lot of opportunities to the steel and automotive industry.
Secondly, mould companies should make alliances and division of specialization. In the current financial crisis, those mould companies must strengthen communication and understanding. Besides, they should eliminate misunderstanding and enhance industry unity. If those enterprises take the above mentioned measures, they can get a lot of benefits. For example, they can give full play to their strengths and avoid weaknesses. The coalition will also help them integrate the resources to avoid overlapping investments which will reduce risks and improve equipment utilization.
Thirdly, companies should strengthen information construction and realize modernization management of enterprises. Many mold companies in China are mostly small and medium enterprises which adopt extensive management. This backward means not only restrict the company development, but also can not adapt to the current highly competitive market. Entrepreneurs should clearly realize that in today’s information age, they should develop information and network technology to help their companies standardize management and minimize production costs and procurement costs. Besides, companies’ level of management and the operation efficiency will be improved which enable those companies to seize the initiative and opportunity in the market.
Fourthly, Chinese mould enterprises should walk out to seek for opportunities and develop new business areas. Meanwhile, they should pay attention to the emerging international mold market. As to some mould companies which own strong technical force, they should make use of their advantages and position on the high-end mould products. Additionally, the cooperation with the international famous companies can help them reduce many competitors.
In addition to the above aspects, there are still many others for those companies to consider. Mold companies should always emphasize on the cultivation of talents and give full play to the role of human resources in the enterprises. Furthermore, the company should broaden their horizons and take the initiative for emerging international markets. They should seek business opportunities in the crisis, minimize losses, and take a positive attitude towards the economic situation.
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