MGMT 104 Entrepreneurial Management G1 Creating an Entrepreneurial Spirit through Culture: A Case Study on Qian Hu Corporation Ltd Prepared For: Professor Tan Wee Liang Prepared By: GOH Yi Lun Aaron Athena KANG Hui Pei LAU Chin Wei Steve Marissa OW Yun Yi THEN Hui Loo Abstract This case study is intended for submission for MGMT 104 Entrepreneurial Management course at the Singapore Management University. The paper is a study on Qian Hu Corporation Limited, considered one of Singapore’s most entrepreneurial companies. This paper focuses on managing entrepreneurship, and entrepreneurship in the family business context. Through strategic leadership, a strong vision, mission and culture, we will study how Qian Hu Corporation Limited has transited itself from a modest family run business into a successful ornamental fish business employing 700 personnel. We will examine business management variables such as ownership, business organisation and the decision making process, and how the leadership of Kenny Yap and his management team developed a small family business into one of the world’s largest suppliers of ornamental fish. This study is based on information obtained from articles, company annual reports and existing academic journals.
MGMT 104 Group Case Study – Qian Hu Corporation Ltd Content 1. Company Profile 1.1Vision 1.2Mission Statement 2. Company Culture 2.1Core Values 2.2Strategic Thrusts 2.3Culture 3. Operations 3.1Business Model 3.2Human Resources and Talent Management 3.3Corporate Social Responsibility 4. Kenny Yap – The Entrepreneur 4.1 Profile and Background 4.2 Instilling a mindset of change 4.3 Going Public 4.4 Embracing Technology and Change 4.5 Creating an entrepreneurial culture 4.6 Learning from mistakes 4.7 The Business Challenges 5. Management 5.1 Decision Making Process 6. Family Run Business 6.1 Problems 6.2 Solutions from Qian Hu’s Perspective 7. References and Appendices
MGMT 104 Group Case Study – Qian Hu Corporation Ltd 1. Company Profile Qian Hu Corporation Ltd is a leading exporter of ornamental fish, contributing about 14% to Singapore’s total ornamental fish export. Together with other local farms, Singapore supplies more than 30% of the world’s aquarium fish. They have export links to more than 75 countries worldwide and the company ships about half a million fish per month from a variety of over 1,000 ornamental fish species. The company employs about 700 employees. 1.1 Vision Qian Hu has adopted 4 vision objectives. 1. To be a world number one ornamental fish exporter, supplying 60% to 70% of world market. 2. To own the largest number of pet chain store in Asia by 2008. 3. To be the top 3 manufacturers of aquarium accessories in China by 2008. 4. To be the most profitable Dragon Fish Breeder in the region. 1.2 Mission Statement “To be the world biggest Ornamental Fish and Aquarium and Pet Accessories provider through innovative and Quality Products and Services.” 2. Company Culture Qian Hu is a company that is highly customer centric, and they will export its products and services to any place in the world as long as there is appropriate flight access and distribution infrastructure. The company does not distinguish between individual or retailer/wholesaler customers and they strive to maintain long-term distribution relationships, however large or minute the dealings. In all of their business dealings, Qian Hu aims for quality, timeliness, varieties, value for money and competent product knowledge. The company acknowledges that their competitive success has been due to their customer centric business and strong design capabilities, good quality, workmanship and competitive pricing. Innovative and continual improvements to their product design, breeding better arowana species and sourcing new fish species has been critical to sustaining their competitive advantage. Lastly, they recognise that leveraging on innovation and technology will improve their efficiency on procedures and...
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