Qian Hu case study
Aiming Higher: Motivating Knowledge Workers
Background
Among the top ornamental fish service providers in the world is Qian Hu.This Singapore-based company started as a piggery in the 1980s. However, due to government regulation against such business, founder Yap Tik Huay decided to convert it into a fish farm instead. Nevertheless, in 1989, the Great Singaporean Flood caused an unfavorable wipeout of Qian Hu’s fish supply.
In spite of this, Qian Hu was able to recover from the loss. Today, the company boasts being one of the largest ornamental fish service providers in the country with services that include farming, importing, exporting, and distributing over 500 species of ornamental fish. Qian Hu exports to over 80 countries across the globe, representing a huge percentage of Singapore’s ornamental fish exports. It also has branches in Thailand, China, and Malaysia to cater to their customers overseas. Pursuing its vision of being a “one-stop shop” for their clientele, the company has also expanded its services into manufacturing and exporting aquarium accessories, feeds, and medications.
Qian Hu credits its success to its Managing Director, Kenny Yap. He is a staunch believer in treating their employees like family, even joining them for coffee breaks at times. This initiative by Yap helped develop strong teamwork, camaraderie and commitment to the company. As such Qian Hu was able to secure its position in the industry, holding 32% of the market share in ornamental fish exports. However, in the past 3 years Qian Hu’s financial performance has been relatively poor as evidenced by its negative cash flows and decreasing net income.
Problem
Despite Qian Hu’s top management’s efforts on a good motivation program, its sustainability and the productivity of its teams has not materialised.
SWOT Analysis
Strengths
Weaknesses
Strong teamwork, camaraderie and commitment arising from close employee ties with management
Market leader (Accounts for 10% Singapore
Background
Among the top ornamental fish service providers in the world is Qian Hu.This Singapore-based company started as a piggery in the 1980s. However, due to government regulation against such business, founder Yap Tik Huay decided to convert it into a fish farm instead. Nevertheless, in 1989, the Great Singaporean Flood caused an unfavorable wipeout of Qian Hu’s fish supply.
In spite of this, Qian Hu was able to recover from the loss. Today, the company boasts being one of the largest ornamental fish service providers in the country with services that include farming, importing, exporting, and distributing over 500 species of ornamental fish. Qian Hu exports to over 80 countries across the globe, representing a huge percentage of Singapore’s ornamental fish exports. It also has branches in Thailand, China, and Malaysia to cater to their customers overseas. Pursuing its vision of being a “one-stop shop” for their clientele, the company has also expanded its services into manufacturing and exporting aquarium accessories, feeds, and medications.
Qian Hu credits its success to its Managing Director, Kenny Yap. He is a staunch believer in treating their employees like family, even joining them for coffee breaks at times. This initiative by Yap helped develop strong teamwork, camaraderie and commitment to the company. As such Qian Hu was able to secure its position in the industry, holding 32% of the market share in ornamental fish exports. However, in the past 3 years Qian Hu’s financial performance has been relatively poor as evidenced by its negative cash flows and decreasing net income.
Problem
Despite Qian Hu’s top management’s efforts on a good motivation program, its sustainability and the productivity of its teams has not materialised.
SWOT Analysis
Strengths
Weaknesses
Strong teamwork, camaraderie and commitment arising from close employee ties with management
Market leader (Accounts for 10% Singapore
References: (n.d.). Retrieved October 21, 2014, from http://www.qianhu.com/ Ho, P Knowledge Management. (n.d.). Retrieved October 21, 2014, from http://en.wikipedia.org/wiki/Knowledge_management Hunt, A Qian Hu Corporation. (n.d.). Retrieved October 21, 2014, from http://en.wikipedia.org/wiki/Qian_Hu_Corporation. Qian Hu Corporation: Knowledge-based Ornamental Fish Farm. (2010, March 16). Retrieved October 21, 2014, from http://chandrasalimwinarno.wordpress.com/2010/03/16/qian-hu-corporation-knowledge-based-ornamental-fish-farm/ Qian Hu Corp Ltd (QIAN:Singapore) Qian Hu Corporation Ltd (QIAN.SI). (n.d.). Retrieved October 21, 2014, from http://www.reuters.com/finance/stocks/companyOfficers?symbol=QIAN.SI Qian Hu Overcomes Huge Distribution Challenges with MEVO