Comic-Book Case 1
Snemalna Knjiga Besedilo
- Comic Book Case
- Yang's conscience rescue plan
- Welcome to Nanyang Optical's offices. The sad lonely man standing here is me, Yang Wah Kiang, co-founder and managing director but most importantly: a broken entrepreneur whose dream is shattered.
- My dream of launching my innovative idea will never come true!
- Walking home, he was questioning the whole process to try to understand where does the problem comes from.
- What is wrong with my idea? It is innovative, unique, attractive! why won't it work?
- Am I using the right production method? Are my ambitions of going international too high?
- Is producing in China a wise choice? Should I even review my whole plan? I'm completely lost...
- Alright Yang my boy you need a good night of sleep now. Enough mental breakdown for the day, tomorrow you'll find a solution.
- ?
- Alright. Now that he's asleep, let me introduce myself.
- I am Yang's conscience, aka the clever one, aka Yang's brain. I'm the one in charge of solutions
- For once, Yang was partially correct on the problem identification.
- Let's identify the REAL problem together. It's time to let professional work.
- Let's start by creating a SWOT analysis that would not only help us identifying the problem, but also find a way to resolve it.
- To go further, we make these sells cross to make it clearer.
- In fact, you now have a clearer and more complete vision of the problem and on what aspects you need to focus. The most recurrent problem remains the same: the factory.
- The first step is to identify the decision criteria.
- - Cost- Reliability - 3Q's (quality, quantity, quickness)
- And now let's get into the problem for real. What are our alternatives?
- #2 Taiwan
- #1 China
- #3 Eastern Europe
- #1 China: pros and cons
- Pros:- Cheap, lots of foreign companies manufacturing their products there- Developing country: growing purchasing power, target opportunities- Technological advance- Chinese partner: contacts- Same culture- Low competition
- Cons:- Bad work conditions, high rate of turnover- Low quality (paint getting off the glasses, long time to send them back..)- Technology not updated for Yang’s product
- In terms of business and costs, China is a secure option, but there is big gaps in term of quality.
- #1 China:Advantaged on cultural point of view as operating in Asia already, but risky and low trust in manufacturer, low price leading to lower quality (defective products)
- Pros:- Same cultural environment- Better workers turnover- Technological advance in line with Yang’s products (injection molding technique)- Advantage in tax (compared to China)- Reliable manufacturer
- #2 Taiwan: pros and cons
- Cons:- Higher wage- Different currency - Political disagreements with China
- Taiwan could be a good alternative in terms of quality and reliability, but it involved higher costs.
- #2 Taiwan:Good knowledge of the business in Asia, contacts, better quality than in China. However,expenses will be higher and political disagreements impacting business can disadvantage Yang’s international ambitions
- Pros:- Free trade agreement (Schengen area)- Cheap & efficient workers- Factories: reliable, good technological advance- Opportunity to extend business to Europe
- #3 Eastern Europe: pros and cons
- Cons:- Expensive to ship- Cultural barrier
- Eastern Europe appears as a satisfying alternative on all points.
- #3 Eastern Europe:Meet quality, quantity and quickness conditions, Eastern Europe is cheaper than western and opens to a lot of business opportunities.
- Thanks to the pros and cons, we determined which alternative offers the most satisfying possible outcomes.
- DecisionMost logical and rational choice:
- Eastern Europe
- Opens opportunity to go international, French associate can overcome cultural differences (language, knowledge of the market), Reliable & insurance of quality reputation canSchengen agreement facilitate business between countriesGreat quality/price rate, economies on manufacturing can lead to lower prices to attract more customersExtension to US & Pacific Asia: experience in Europe gives credit when it comes to fashion
- Implementation:1. Choose best country in Eastern Europe (depending on price/wages, location)2. Find factory (depending on 3 Q’s, reliability) & conduct trial: helps determining efficiency3. Construct an experienced & reliable management team on site (French associate + business consultant)
- Implementation:4. Adapt to European design preferences (depending on each European countries’ fashion trends, advantage to partnership with luxury brands)5. Extension plan: focus on extending to Europe first while managing business in China, then extend to Asia-Pacific and North America. Managing all 3 at the same time will be above risky, even unmanageable for the start
- And finally: the 4P analysis.
- PriceProduct
- PromotionPlace
- 1. Product:Innovative & unique product, Design following fashion trends, Need to ensure functionality of the product during the factory trial to avoid any defective products to avoid losing time & money, Expand range of designs: line for children, more shapes, more colours
- 2. Price: High enough to cover the product’s manufacturing costs and a correct margin, knowing that customers will be willing to pay higher price for high quality & uniqueness, Can even be lowered thanks to margin Yang will make thanks to cheap workforce in Eastern Europe.
- 3. Promotion: Develop social media and website, Include possibility to virtually test glasses thanks to a system close to a filter that will enable clients to see how they could look like wearing the different designsFilm original adds showing both the unique aspect through the range of designs and the innovative aspect thanks to the frames’ material
- 4. Place: At-home delivery service on website including free returns if any problems occurs, Partnership with luxury brands & create seasonal collections (all collections will be available on website as well), Partner with local optician stores
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