Li & Fung can be an export trading organization from Southern China that was founded in 1906 simply by Fung Pak-Liu and his spouse Li To-Ming. Li & Fung grew from a traditional export trading company to global source chain supervision company it really is today. Following your passing of Liu, To-Ming decided to offer his stocks and shares. After the two graduating from Harvard, Fung's sons, Victor and William took over the company in 1974 and moved that to Hk. The Fung brothers had been both extremely intelligent persons. They used new tips and development to turn the company into a more professionally maintained firm that went general public in 1992 (MacFarlan, 2005). Li & Fung deals with the global supply chain intended for high volume and time sensitive customer goods intended for large companies such as Pickup bed, Bath & Beyond, Avon, The Limited and Warner Brothers (MacFarlan, 2005). The corporation operates in forty economies and employs over 20, 000 people worldwide (MacFarlan, 2005). I believe part of the achievement of the company was that the brothers worked wonderfully together. They each had their particular strengths. Although Victor was more of the proper thinker and thought long term, William centered on the procedures and making money. As the CEO with the Group's e-commerce stated a combination of both believed leadership and execution, with the unique marriage between Victor and Bill cementing the complete organization
Even though the company was spread out based on a offices around the globe they presented a centralized IT, financial and administrative support out of their Hong Kong office. Nonetheless they had a decentralized corporate composition so that they were easily capable to keep up with the up and coming fashions because as we know the models are regularly changing. Li & Fung also a new very competitive compensation package and had bonuses that were based on profits which has been different than others that got more constraints.
Along with the internet revolution, Victor and Bill were fast to understand and adapt...
Sources: McFarlan, Farreneheit. W. & Young, N. (2005). Harvard Business Assessment: Li & Fung (A)(B) Internet issues (pp. 1-23).
Valacich, M. & Schneider, C. (2010). Information Systems Today: Handling the Digital World. Uppr Saddle Lake, NJ: Pearson Education, Inc.