Since this year, many factors have affected the fastener industry, such as the appreciation of RMB, the lower export rebate, the growing cost of raw materials and labor and the scarce of resources, which showed it's inevitable that private fastener companies have to change their old manufacturing models. Due to the fiercer competition and scarcer resources, entrepreneurs have paid more attention to the faster reshuffling of their enterprises, so as to reinforce their competitiveness and expand influence in the fastener industry.
In the new market, the competition arena for the fastener enterprises has changed a lot. First, the advantages of resources like land and labor cost are not prevailing any more. Second, along with the globalization of market, the competition has extended to overseas. Finally, the current managerial system and competition pattern are not suitable for the new market.
In most private enterprises, at present, once an important decision needs to be made, the boss always has the final say to it. And, instead of long-term initiatives, some enterprises usually adopt short-term initiatives like increasing annual salary to attract and inspire employees. In addition, in the terms of applying the modern managerial methods, only a few enterprises established auto-office system, and they still lack specific plan of their own resources.
Some insiders point out that the modern management system is the foundation and guarantee of the successful reshuffling of enterprises, through which the execution can be improved and the reshuffling strategy carried out. Nowadays, with the globalization of market, the competition among products has shifted to the command of industrial chain. Seeing the reshuffling wave in private fastener industry, we have good reasons to believe that there will emerge a new batch of fastener groups.
Translated by Alan
