Yantai Timken Company Development Strategy Study

This paper study the object of Yantai Timken Company development strategy formulation, focusing on the analysis and exploration of the issue that under the circumstance of financial crisis, Yantai Timken Company, as export-oriented foreign-funded enterprise, how to adapt to the changes in market conditions, initiate positive adjustment for operating strategies to explore and find new direction of development. Yantai Timken Company is a wholly foreign-capital invested enterprise in China of the third largest bearing company of the world--Timken Corporation, its main product is Tapered roller bearings which are mainly used in the Heavy Truck and Off highway, its reliant quality leads in the industry field for long term. Starting from the 4th quarter of Y2008, international financial market met downturn, auto mobile market shrunk, Yantai Timken Company suffered a tremendous impact. Observing the domestic market, with the implementation of the " RMB4 trillion investment to expand domestic demand" policy and deploitation of overseas developing countries market, it is bound to boost the development of upstream enterprises in bearing industry. Facing a large amount of domestic bearing competitors and the local market with great potential, Yantai Timken Company should establish the self-characteristic business development strategies and carry on the effective implementation, so that enterprise embark on the road of rapid and long-term development.This paper commences on Yantai Timken's own actual situation and analysis of the status and internal and external environment of Yantai Timken Company, to proceed the analysis and choice of business development strategy. This paper uses the PEST analysis method. On the basis of full analysis of national macro-political and economic environment, industry development and marketing competition factors, uses SWOT theory to probe into Yantai Timken's advantages and weaknesses, opportunities and threats. Learning from domestic and foreign strategic management theory, objectively evaluating the status of strategic development of Yantai Timken Company. Designing its future development strategy, and pointing out the security measures of strategic development and implementation.