2Organization Background and Competitor Analysis
Mission Statement and Organizational Values
General Environment Analysis
External Analysis:-Porter’s five forces model
Financial Statement AnalysisP.4-17
3Key Issues and ProblemsP.17-20
5Implementation Plan P.22-
Section 1 Executive Summary
In this field project, our study company is Midland Group. It is the chain property agency with the longest history in Hong Kong. We only focus on property agency residential services only, due to the relevant information we got from interview. We have conducted an interview with one of the CEO in Midland Group, Dr. Sidney Sze. We talked about the Midland group’s different business units from residence agencies to financial services subsidiaries. We address the local and external factors that affect the company. We found that ethical issue and CSR (corporate social responsibility) are typically important for Midland Group due to the special services they cover. We are able to apply different strategic management concepts, theories and principles that we learnt before. Such as SWOT, Porter’s five force model etc. Value Chain Analysis is not included as it is not a key factor respect to core business.
We also identified problems and issues that are key successful factors for the group. After that, we used “need analysis” to find out what recommendations are needed. To be more practical, we designed some action plans in views of different departments. These implementations may sound out-of-box but we believe that innovation is crucial for the sustainable development for the group.
Section 2 Organization Background and Competitor Analysis
Mission Statement and Organization Values
"Customers come first"
This shows that Midland use customers’ satisfaction as key successful factors and measuring indicator.
"Think customers; be responsive; take initiative; be innovative; work as a team and scale new heights."
Employees are guided to offer service that is Prompt, Precise and Professional. The group desire to build credibility on integrity and differentiate through professionalism.
Midland Holdings Ltd. is a real estate agency company who majors in conducting sales between buyers and sellers. It’s established in 1973 by its current chairman, Wong Kin Yip, Freddie. Its principal activities include real estate broking of all types of properties, secondary sales, rental of all types of properties and provision of real estate marketing services. Its key stakeholders include, Accounting Firm (Auditors): PricewaterhouseCoopers; Main Contacting Banks: The Hong Kong and Shanghai Banking Corporation Limited, Fubon Bank (Hong Kong) Limited, UBS AG, Agricultural Bank of China; Hong Kong Legal Advisors: Iu, Lai & Li Solicitors & Notarie; Shareholders and Hong Kong government.
Its core business, as an agency, focuses in Hong Kong, Macau and Mainland property markets. It deals with buyers with purposes such as self-use, investment and rental, and sellers of new flats (property developers) and secondary sales (previously buyers). By helping the two parties engage in transactions and also providing professional opinions to buyers, it charges commissions for these services.
Current Situation of Hong Kong Property Market:
Generally, it would have a healthy growth for this year and for the next year too. The no. of transaction in first hand and secondary residential market has been increasing according the Land Registry of Hong Kong. The price index of secondary residential market has been increasing in the recent quarters too according to the Midland statistics.
The reasons behind such healthy growth are,
1.It has less property...