New year is supposed to be a fresh start. However, the emergence of coronavirus disease has ruined it. Since the outbreak of the epidemic, it has developed to become a disaster. It also reminds us that there is no difference between the rich and poor, and no one can stay out in face of illness. The only way to win over it is to unite our effort to get the situation under control. I saw many of my esteemed colleagues working day and night during the Lunar New Year period trying their best to ensure the health and safety of our employees, and ensuring business continuity after the national holiday. I am deeply impressed by their perseverance and FURONG is proud of them.
At this important time, I would like to share and suggest some thoughts with you:
1. Make Use of Time to Think about Reform and Self-enhancement
The epidemic is still evolving, especially in Europe and the US. Fighting against the epidemic has become the top priority. If we fail, we would not be able to carry out our business plan. Therefore, we shall continue to implement preventive measures until the relevant vaccines and drugs are available. Travelling is restricted during this period of time that we can make use of the time to think about our future and to seize the opportunities in product innovation, organizational optimization, digitization of management processes (big data, enterprises Cloud) and all other areas arising from the crisis, identifying medium to long-term direction, formulating strategies and implementing plans. All these would lay us a stronger foundation and bring a brighter future.
2. Continuous Innovation To Enhance Product Value
Brand is a precious asset for an enterprise and increase in brand value relies on continuous innovation. Product or technology innovation is the key to profit in the highly competitive consumer electronics market.
In the past few years, our products have gone through a series of advancement from basic to functional fabric, from conventional fabric to medical fabric… Each and every of the new product launch highlighted our competitiveness. We also tried new business models to collaborate with renowned names in different industries. The velcro loop fabric was highly appreciated by our customers and lifted our brand value. I believe FURONG will be able to bring out new and innovative products continuously.
3. Power of Team Work
It’s important to foster and deepen cooperation among all functions and departments in order to maximize the power of team work.
I have cited an example for tennis playing before: when playing doubles, the players need to accommodate and cooperate with their partners. In the case of mistakes like hitting the ball out of bounds or hanging on the net, we would never see them blaming but standing by each other. To work as a team, one would need to fulfill his own duties and help his teammates to complete their works. I always say that if one finishes his work nicely, he will get 40 points but he will get full marks if he works with his team to achieve the goal.”
In addition, we should take a leaf from a Chinese concept known as “Dian Xiao Er” mindset. Many years ago, waiters or waitresses were known as “Dian Xiao Er”. They were well-known for their humility and courtesy, work attitude and understanding on customer needs. In modern times, this is called “People-first” attitude which we can adopt to better serve customers internally and externally.
4. Industry 4.0
We must strengthen our competitiveness restlessly in this ever-changing and dynamic market and to differentiate ourselves from fellow competitors by developing customercentric products in a timely manner. It will not only enhance our efficiency in production technology and quality control further, but allow us to stay ahead in the market.
In preparing ourselves for Industry 4.0, we have engaged top-notch consultants to formulate the best digital factory solution. Moreover, we have to digitalize the internal procedure, factory production and operation management in order to expedite the process and quality of decision-making, enhancing overall management capabilities and standards.
5. Identify New Area of Growth
We will overcome the difficulties at the end, either the Sino-US trade dispute nor the COVID-19 epidemic. Business sustainability is crucial at this moment. The epidemic has created new business phenomenon with remote working, remote conferencing, remote medical treatment and remote education. We shall take advantage of our success in medical fabric, and combine with new technologies to explore new opportunities in the coming era.
FURONG started in an old and small building in Changle 27 years ago and developed to become an international enterprise with vertical knitting factory, dyeing factory and trading company, sailing through various crisis including the SARS and financial tsunami arose from subprime mortgage.
Last but not least, although there are many unknowns and challenges ahead, I hope every of you will work together and take FURONG to the next level.
Mr. Liu Jianping
13 April 2020