Goals, Purpose and Significance of the Article
To provide information regarding Fireworks Industry to investors that may help them in making decisions, shedding light on its tight market competition, production, safety, dispersal and previous market trends.
Statement of the Article’s Research Problem
While the Liuyang fireworks industry dominated the worldwide industry, Jerry had to decide whether he should invest in the one of the companies in the province. If he did invest, what was the best way to capitalize on the potential that remained unexploited in this industry? He wondered whether he could apply the industry analysis framework he had studied in his MBA program.
Jerry Yu was an ABC (American-Born-Chinese) and with an MBA, he runs a small family owned chain of gift stores in Brooklyn, New York. He has given the chance to invest in a fireworks industry located at his mother’s hometown Liuyang. However, he wanted to consider the standing and development of the said industry for him to capitalize.
Firecrackers and fireworks are originated in Liuyang known as the “hometown of firecrackers and fireworks of China”. As early as 1723, Liuyang fireworks were chosen as official tribute to the imperial family and were sold all over the country. The said product had become the pillar industry of the community.
The loud reports and burning fires of firecrackers and fireworks were found to be perfect for frightening off evil spirits and celebrating good news at various occasions.
For more than a thousand years, the Chinese had been seeing off past years and welcoming in new ones by firing firecrackers. By the 15th century, fireworks were widely used for religious festivals and public entertainment. In 1777, the United States used fireworks in its first Independence Day celebration, and fireworks have become closely associated with July fourth celebrations ever since.
Up until the 1830’s, the colors of the early fireworks