Research On Overseas Business Development Strategy Of Zhuzhou Times New Materials Technology Co., Ltd.

This paper firstly reviews the background, intention and importance of the subject. The content, method and main innovations of the subject study are elaborated, as well as the theoretical foundation. It is also introduced the definition of overseas business development, factors leading to selection of different modes and several mostly-used modes of business development.Introductions are then made to the general view, history, status-quo along with existing problems of overseas business development of Zhuzhou Times New Material Technology Co., Ltd.(shorted as TMT). External environment and internal resources are analyzed, which is the basis for formulation of new business development strategy under new conditions.To meet the current and future demand of TMT overseas business development, it is proposed to further change the existing strategy of direct trade into a new strategy “dual-mode drive” based on a combination of international trade with capital operation. At the same time, different strategies should be adopted for different industries as rail transport industry and other new strategic industries. A compound frame of strategy is designed and specific ways of operation are proposed.To ensure smooth execution of such strategy, this paper also proposes following measures:(1) Re-organize the team to improve operation efficiency, focusing on introduction ofa matrix management mode composed by area manager, industry manager and production manager.(2) Further optimize overseas resources configuration. Existing BOGE global resources and other resources by investment might be used. Global resources shall be integrated actively, to merge into global industrial chain and to promote development of diversified industries.(3) Further improve the existing talent team through innovations in internal talent cultivation system and localized configuration of overseas talents.(4) Optimize the risk prevention system, esp. for prevention of currency risk and acquisition risk. Currency risk might be prevented via introduction of financial derivatives. Risk related to capital operation might be prevented via recognition, study and summarization of such risks and via cooperation with professional agents.The innovations of this paper lie in two points. Point one is the “dual-drive” strategy based on combination of international trade with capital operation. Point two is the matrix management mode based on a trinity of area manager, industrial manager and product manager. It is anticipated that this paper could be used as guideline for future overseas business development of TMT, and as reference for other high-tech manufacturing companies at the same globalization stage.