| Property management as a new industry has experienced fast development since it took root in China's Guangzhou and Shenzhen cities in the 1980s. At the initial stage, it appeared as an imitation of Hongkong's mode by providing professional property management and comprehensive services. With the rapid development of China's real estate industry, some top-notch foreign property management companies entered China's market and a large number of domestic property management enterprises were established. Up till now, there are about 12,000 China-born property management companies in operation. It was under such circumstances that China World Property & Hotel Management Co., Ltd. came into being in 1998.In the face of the opportunities and challenges brought about by China's entry into World Trade Organization (WTO), domestic property management companies are pressed with the question of how to formulate and implement their own development strategies and grow up among the tough market competition. The author makes an attempt in this aspect by analyzing the development strategy of China World Property & Hotel Management Co., Ltd. (hereinafter referred to as "CWP") so that more studies will be made in this field.In the course of writing this article, the author visited senior management staff of CWP and had an in-depth discussion with them on the topic. The author also made reference of books and periodicals on property management and corporate strategy published in recent years both at home and abroad in addition to relevant reference materials on Internet. The arguments are purely the author's personal viewpoints and criticism is always welcome.As a window for China World Trade Center to export its expertise in property and hotel management, CWP has up to now contracted various property management projects with a total gross floor area of nearly 3 million square meters since its establishment four years ago. CWP has gradually turned itself into a new profit growth point for China World Trade Center.China's entry into WTO will, on the one hand, speed up the process of commercialization of property management, promote the growth and development of domestic property management enterprises, and help to improve the legal system of property management market. On the other hand, it will also bring about severe challenges such as the advanced management expertise of foreign companies, their high quality service and competitive price as well as advanced decision-making methods. How to grasp the opportunities and face the challenges upon China's WTO entry has become a matter of great urgency for domestic property management companies.In the face of such fierce market competition, CWP made a complete analysis of its operational environment and formulated the company's long-term development strategy. On the basis of consolidating its major business operations, CWP will diversify its business and endeavor to become a highly competitive top-notch property management company with a No. 1 ranking in terms of brand name in the field of property and hotel management in China.　CWP also put forward its five-year development goals: To achieve an annual sales volume of over RMB 50 million yuan and an annual operating profit of RMB 7 million yuan outside the China World Trade Center complex by exporting management; To contract management projects with a total gross floor area of 5 million square meters, with 10 large scale projects under direct management of CWP and 15 projects for authorized management; To contract 5 projects of star-rated hotels under the management of CWP.In order to realize the company's long-term development strategy, CWP will seek its development by three stages, i.e., the stage of laying a solid foundation for further development (Year 2002-2003), the stage of overall improvement (Year 2004-2008) and the stage of diversification (after Year 2008). This has specified the major task of the company at different period of time.The company's strategic positioning is to focu...
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