Research On Development Strategy Of Z Futures Company

This paper takes Z Futures Company as the research object,and studies the development strategy of Z Futures Company based on the relevant theories of strategic management and literature research.Z Futures Co.,Ltd.is one of the top comprehensive futures derivatives service providers and is committed to becoming a first-class futures company in China.Through the in-depth interview research method,the anther understands many problems existing in the current strategy of Z futures Company.Based on the three-level coding qualitative analysis of grounded theory,the anther finally aggregate them into three points,namely,the lack of scientific strategic decision-making system,the lack of strategic talent guarantee and the lack of strategic execution measures.In order to solve the practical problems of Z Futures Company,this paper analyzes the internal and external environment of Z Futures Company in detail.External opportunities include the futures market is in the growth stage,the continuous improvement of laws and regulations,the construction of Chengdu-Chongqing double economic circle,the support of the local government,the change of people’s investment psychology,the rapid development of the Internet,the development of digital technology,and the mixed operation.External threats include the price war in the industry,strong bargaining power of brokerage investors,slowing down of domestic economic growth,threat of spot electronic trading market,impact of geopolitical conflicts on industrial chain,entry threat of international capital market,lack of high-quality talents,general listing system of varieties,and few professional investors.The company’s internal advantages include good financial data,leading the peers in information technology,strong research and development ability,perfect corporate culture system construction,strong brand influence,synergistic effect,capital management scale in the forefront,extensive marketing network coverage,cross-border futures business;The internal disadvantages of the company include poor geographical location,weak quantitative research,lack of high-end talents,chaotic Internet marketing,backward options business,backward wealth management,undifferentiated products,backward futures combined with spot business,and undiversified ownership structure.Through the qualitative analysis of SWOT matrix,four alternative strategies are proposed,namely,SO strategy,WO strategy,ST strategy and WT strategy.On the basis of analysis of internal and external environment and expert panel scoring,the AHP model is constructed to determine the weight coefficient of each key factor.Through the quantitative analysis of EFE matrix,IFE matrix and QSPM matrix,the optimal development strategy of Z Futures company is determined,that is,the diversification strategy composed of SO strategy and WO strategy.On the basis of the results of strategic selection,the author puts forward the corresponding safeguard measures for the implementation of the strategy.SO strategy,namely the growth strategy,specifically includes improving the quantitative and market making trading,network expansion,giving full play to local advantages,strengthening synergies,strengthening asset management,improving cross-border futures business,and strengthening risk management services for real enterprises.WO strategy,namely the turnaround strategy,specifically includes the establishment of research and development and marketing center in Beijing,Shanghai and Guangzhou,the introduction of quantitative research,new media and wealth management talents,the strengthening of Internet marketing,the strengthening of wealth management construction,the enhancement of options business,and the introduction of strategic investors.Finally,the anther puts forward the development strategy safeguard measure to exert the pluralistic system effect comprehensively.