| Summary: | 碩士 === 國立臺灣大學 === 企業管理碩士專班 === 103 === Siam Colorants is one of Thailand’s leading importers and distributors of quality colorant products from leading colorant manufacturers in Asia. The company has mainly focused on selling pigments and dyes for local paint, ink, and plastic manufacturers in Thailand. The competitive position of the company is quite strong since the company is the sole exclusive distributor of Thailand that offers competitive prices and more flexible payment terms comparing to other competitors.
Currently, the company is doing well and ready to grow to the next level. However, the current president of the company is approaching a retirement and currently considering three qualified relative candidates to be the next president. The current president will only pass the position to the candidate who has the best business expansion plan. Therefore, this business plan is the opportunity for the writer, who is one of the candidates, to show how well the writer knows the company and also to propose the future business expansion strategies to the current president.
From the writer’s point of view, the expansion plan should focus not only on expanding the business size of the existing markets, but it should also focus on approaching to a new market segment. The company should enter a textile industry market to sell the colorant products to local textile printing and dyeing manufacturers in Thailand because the company already has adequate resources and expertise in the colorant business to enter this new market. In addition, textile industry is a big industry that plays a significant role in Thailand’s economic from selling textile products locally and exporting to other countries.
The main contents of the business expansion plan will be structured into learning & growth, internal business processes, customer, and financial sections based on balanced scorecard (BSC) framework. To support the business expansion, a human resources department will be established to encourage learning & growth activities of the company. An information technology department will also be formed in order to implement an enterprise resource planning software for company’s internal work processes automation and improvement.
Moreover, the company will conduct a customer satisfaction survey and invest in a quality control laboratory to ensure consistent product quality of the colorant products. By doing this, the company can provide the next level of customer satisfaction to the customers, which is to add more value to the products. The quality control laboratory will also support the business expansion to the textile printing and dyeing industry by internally developing color comparison charts to compare and match colors for new customers.
The management team shall consider implementing this business expansion plan due to expected favorable financial results based on the capital budgeting models. The business expansion will maximize the company’s profit and sustain the long-term financial performance and growth, which is according to the vision of Siam Colorants.
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