Study Of Solid Wooden Furniture Business Strategy Of HY Company

The Chinese solid wood furniture industry has risen in 1999 and developed rapidly with expanding scale of production and sales,as well as production technology and production efficiency continuously raise.However,with many countries economic slowdown,transferring global furniture production to Southeast Asian and Latin American countries which has cheap labor further,as world currencies led by euro depreciates,the impact on the European market by Brexit,the international market is atrophic,the growth of Chinese solid wood furniture export has slowed since 2016.Facing international market in which demand has collapsed,the most of export-oriented solid wood furniture enterprises return to domestic market quickly in order to gain market share,it is also increasing competitive pressures.In the face of fierce market competition environment,how to establish the right and science of business strategy for enterprise development to lift enterprise core competition is of vital importance to the domestic solid wood furniture enterprises which need further development.This paper takes solid wood furniture business of HY Co.as background,on the basis of strategic management theories,combines quantitative analysis and qualitative analysis.Firstly,it uses qualitative analysis by PEST and porter’s five-forces model,than uses quantitative analysis by IFE to determine key external factors of opportunities and threats.Secondly,it uses quantitative analysis by questionnaire method and high-level interviews with HY Co.from the internal environment of the company from financial position,human resources,human resources,organizations,operates,and corporate culture,than uses quantitative analysis by EFE to determine key internal factors of advantages and disadvantages.On this basis it offers business strategies to suit HY Co.through external and internal factors matching by Weihrich ’s mutual matrixes.Finally,it determines implementation focus of business strategy by QSPM,so concrete plans of business strategy is determined,and provides guarantee countermeasures.So,study the business strategy of enterprise is very meaningful for HY Co,and provide some quotable ideas of the reform to other companies of solid wood furniture industry,and so on it promotes enterprise to make strategic positioning accurately,opportunities from its outside surroundings and full advantage they can seize.In addition,they can promote the core competition ability and achieve sustainable development by adjusting business strategy with the market changes.