In 2015, the Chinese steel manufacturers faced double challenges. On the one hand the economic slowdown lead to decreased demand domestically and a historical low price in the market. On another hand the web internet and mobile internet had changed steel industry in China. Internet has a deep influence on the marketing, R&D, production, logistics and business management almost every aspects in steel industry. Nowadays, steel manufacturers have to adapt to the economic slowdown and also the changes of technology.
In order to face the double challenges, there are five comments brouhgt up by our president:
1. Sense of Crisis. It is very necessary to be prepared for any emergency, such as economic slowdown, decreased market demand, decreasing market price ect.
2. Pay attention to the corporate management. Try to find a balance among profits, cash flow, future development. Only the profitable enterprises have the confidence to invest future development and professionals. Only the healthy and sufficient cash flow create the possibility to get through any economic slowdown or unstable market demand.
3. Improve the ability to innovate. The world is changing, technology changes the way to do business. Therefore, enterprises should innovate in various places, such as new products development, customer services innovation, new technologies applied in production ect. Innovation is the only way to maintain the prosperity of a enterprise, experiments will always lead the company pass through any challenges.
4. Optimize and enhance a unique business mode. Unique business model means the most suitable business type that competitors can not take away from you.
5. Fully embrace the Internet. Taking advantages of the new technolgoy to change the way we communicate.
