The Chinese Fireworks Industry - Case Study Example

Strengths (S The brand has been in existence for quite a long time – as such, its name is well known among the locals. 2. There is a customer base in place – this can be realized by the income revenue that the company gets. 3. There is an already existing distribution chain for the product.4. Labour is cheap. 5. Low investments shall be needed. Weaknesses (W)1. The lack of research and development investments. 2. The lack of high-technology equipment to create fireworks that are safer and better than those of the competitors. 3. Uncertainty –whether the raw materials being used are of high quality or not. 4. The workers lack training on the latest fireworks equipment – therefore, they shall have to be enrolled to research and training.

Opportunities (O)1. Venturing into neighboring and new markets.2. Alliances with other fireworks and firecrackers companies if the local market has challenges in penetration. 3. New designs of fireworks and firecrackers could be made to beat the competition and increase sales. 4. Internet can be used to scale sales. Threats (T)1. Environmental pollution laws – that is noise pollution and raw material pollution. 2. Safety regulations – this is related to fireworks and firecrackers' number of accidents. 3. New market entrants – who may be cheaper. 4. New competitive products from the other fireworks and firecrackers companies. 5. Threat of substitute products into the market.

Some ways in which you could be in business and involved somehow with Chinese Fireworks Company1. Be the supplier of raw materials for the Chinese fireworks company. 2. Be the body that supplies fireworks and firecrackers equipment to the company. 3. Be the institution that trains the workers in the fireworks and firecrackers company. 4. Be the institution that performs the safety regulatory procedures for the company as well as its products. 

Business 3: As the institution that trains the workers, it shall not be easy to train all the workers easily since some of them may not be open to change or may not welcome new technology in the company.

Business 4: As the safety regulatory institution, it shall not be a challenge to conduct business with the company since the safety certifications are what the company needs to conduct business locally and globally. What are the key skills or resources a business would need to have to be successful at each of the businesses listed above? Business 1: Marketing skills; selling skills – making people realize that what you have is what they need; communication skills – talking with people; persuasion skills; negotiation skills.

Business 2: Marketing skills; selling skills; communication skills; persuasion skills; negotiation skills. Business 3: Business management – getting people to do things without forcing it on them; communication skills; project management skills – getting to perform the worker training in the stated duration; meeting management skills; stress management skills; time management skills; leadership skills. Business 4: Communications skills; interpersonal skills; leadership skills. Works citedHill, Charles, and Jones, Gareth.