Strategic Research On Sewing Machine Enterprises Under Financial Crisis

For a long time, due to the worldwide political stability and economic stability, the sewing machine industry has been under great development and growth. Especially in China, with the deepening of reform and opening up the world's old sewing machine companies have set up production bases in China Mainland. Now China has become the world's leading sewing machine producing countries. However, the 2008 U.S. financial crisis swept the globe; the steady development of the sewing machine industry is inevitably affected greatly. For the sewing machine enterprises, facing the rarely happening financial crisis, the past strategies fitting for the period of steady economic development is no longer adaptable. Accurately identifying their own deficiencies, sewing machine enterprises can turn the crisis into opportunities by means of changing theirs managing strategies. Regarding Pegasus Group as an example, this paper analyzes its external advantages and disadvantages qualitatively and quantitatively. Then the paper points out the managing strategies of Pegasus Sewing Machine Group facing the financial crisis. The conclusion is that Pegasus Group should take co-operation strategy, R&D strategy, talent strategy, production strategy and differentiation strategy to seek healthy and stable development under the financial crisis and turn the financial crisis into opportunities. Its development strategies can provide a reference for other sewing machine companies. In this article 4 figures,7 tables, and 26 articles are quoted.