Family Business Plan

Topics: Corporation, Company, Types of business entity Pages: 5 (1069 words) Published: March 24, 2013
Information About The Business
Ming Yi Feeds Sdn Bhd was established and started its feeds operation in Malaysia in 2004 by the founder Seah Yeok Chee. The establishment of the company is to support the founder’s family business in chicken farming. Ming Yi produces and market animal nutrition product and provides consulting services to customer across the poultry value chains. They are specialized in producing chicken feeds and selling the raw material especially corn and soya bean. Besides that, Ming Yi Feeds is operated in the category of control and management of family member. All the important thing and decision is making by themselves but not the outsider. The business is the first generation and established for 8 years. The founder of Ming Yi Feeds Sdn Bhd is not currently planning his retirement and is not deciding to pass the ownership of the company to anyone since he is still young and is able to run the business. The succession factor of the company is the father of the CEO is highly support for the business. And one of the biggest customers of the company is the BM Lean Huat Chan a chicken farming company own by the CEO’s father. The supportive family members of the CEO is participating themselves in the business and the support from their father made the company successful. The business is kept private and confidential to the public as well as their family. The only persons able to access the business information are the CEO and his father. This is because all the business information is crucial to the company like their supplier and customers. The founder does not have any interested to sell their family business, because the owner dreams to remain the business in their family. However, in order to expand their business, shareholder may be required to gain some capital, but the family will still holding the majority share compare to other shareholders. The company is implementing a basic compensation method which is base salary and allowances. However, there is a bonus to every employee every year and the amount is based on the performance in the particular year.

Background Information

Company address: Plot 31, Jalan Perindustrian Bukit Minyak 9, Taman Perindustrian Bukit Minyak, 14100 Simpang Empat. Telephone No: 04-5078488

Fax No: 04-5086488
Types of Business Entity: Sendirian Berhad
Work Force: Presently 20 Staff Member
Building Particular: offices 24 X 98 feet
Turnover per year: RM 100 million
Profit Margin: 0 ~ 1 %

Quality Policy
Mr. Seah said that they are committed to consistently provide the quality product and services to satisfy or exceed customer’s expectations through continuous process improvement, adequately trained and developed work force and on time delivery. Vision

Ming Yi wants to be a competitive manufacturer in agriculture product in Malaysia. Mission
Ming Yi Feeds is committed to bringing the best and safe agriculture product to Malaysia agriculture industry through its innovative R&D department, facilities and services offering. Objective

Ming Yi Feeds wants to further boost its sale by 10% in the next two years.

Organization Chart

Role of Family Members
Chief Executive Officer – Seah Yeok Chee the CEO is responsible in making decision and ensures the smoothness of the business operation as well as the sale of the company. He is the eldest son in the family. General Manager – Kuo Yee Mei the GM is assisting the CEO in daily operation. She is responsible in maintaining stock level. She is the wife of the CEO Mr.Seah. Financial & Human Resources Manager – Seah Ai Ling the financial and human resources manager is responsible in the financial division in the company as well as recruitment and selection of new employees. She is the sister of the CEO. Operation Manager – Seah Yeok Chew the...
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