Li & Fung

Introduction Li & Fung was founded in 1906 as an export trading detainment company in Southern China selling to overseas merchants. At the end of World War II, Li & Fung relocated to Hong Kong. By 2000, it was involved in sourcing and managing the world-wide fork out chain for high-volume, time-sensitive consumer goods. historic Strength The strength of the company is to harmonize the whole production wait on that starts from raw materials all the way through to finished product. The knowledgeability of value is based on a holistic idea of the value chain. The company provided value-added services across the accurate supply chain in a so-called borderless manufacturing environment. By doing so, it cut the time of order fulfillment. On the other hand, it reduced clients enumeration costs. Moreover, Li & Fung reduced matching and credit risks. Furthermore, the company could besides offer lower cost and more flexible sourcing than its competitors with its global sourcing network and economies of scale. For the management team, the division of labor between the Fung brothers was clear-cut. A combination of both thought leadership and execution cemented the entire organization.

Furthermore, it was imperative to cultivate a collective culture that non only tolerated tho encouraged diversity, humble, agile and responsive and keep the people externally focused. Besides, by using the decentralized corporate structure, it allowed for adaptability and rapid reaction to seasonal fashion shifts.As a meritocracy, performance-based onward motion and compensation were cardinal principles. Tripartite Growth Strategy Li & Fung adoptive a three-year plan system, which allowed the company to look ahead but not too far ahead. It used backwards training to recognize where it complimentsed to be in three old age time, identified the gaps between that and where it was and saw what it had to do to get there. The sloshed was well positioned to benefit from the opening of the mainland market and Beijings... If you want to get a full essay, order it on our website: Orderessay

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