| In recent years, the development of China domestic future market is growing rapidly. As a result, Wanda Futures is able to grow faster and has the honor to get rating ’A’ class of Futures Commission Merchant in two consecutive years. With the introduction of stock index futures, domestic futures market has entered into the financial times, while Regulation Authority issues new policy to curb excessive speculation. Facing the change of environment, integrating our own resources to compete with other FCMs and maintaining our company’s existing industry position have become major issues in front of us. This paper is based on futures industry, through the summary of international futures industry development experiences and the analysis of domestic futures industry trend, it is inevitable that China Domestic futures industry is going to financial, global and informationized. Based on the practice of international leading company and comparing Wanda own practice with other domestic companies, combine with internal and external environment to analyze Wanda by SWOT analysis. This article argues that domestic futures market is in rapid growth stage and the market trend is expected to continue in the future, but the competition is fierce. Wanda Futures has certain advantages, especial for commodity futures; the gap is obvious between the development of commodity futures and the development of financial futures in our business. To maintain the sustainable development of the corporation, Wanda futures should choose some appropriate strategies.With Wanda futures’comprehensive futures company position, make sure that Wanda futures should take its strategies base on development-oriented. From company’s broad strategy perspective, propose to actively construct three levels of business portfolio, focusing core business for profit center, increasing the inputs in emerging business and business in embryonic stage, continually making embryonic business convert to emerging business and emerging business convert to core business, and then form the virtuous cycle of business portfolio in order to maintain the sustainable development of the enterprise in long term.From competitive strategy perspective, Wanda Futures needs to conduct research on advantaged commodities, disadvantaged commodities and innovative business respectively. As for advantaged commodities, Wanda Futures should adopt differentiation strategy to maintain its competitive position. As for disadvantaged commodities, it can be broken down into two categories, one is’A’class which has great market potential, but the company is in a weak position. Another one is’B’class which has less market potential, and Wanda has strong competition ability. For ’A’ business, Wanda should use cost leadership strategy. For’B’business, it proposes to adopt centralization strategy. Moreover, Wanda needs to analyze potential customers and demand in innovative business such as Investment Consulting, Asset management, Abroad Futures and so on. Wanda is proposed to construct competitive paths for innovative business.From functional strategy perspective, around different commodities competitive strategies choices, to ensure the smooth implementation of competitive strategies, marketing work need to continue ways of Wanda’s industrialization and professionalization, and becomes more total marketing. For financial strategy, the net capital monitoring system should be established in order to meet net capital requirement of strategic development. For operation strategy, it necessarily builds internal control system which centers on classified regulation. For research strategy, to deeply mine advantaged commodities and broaden the width of disadvantaged commodities, to construct three level of business competitive power. For human resources strategy, the company should enhance own internal resources and establish a multi-level training system.From growth strategy, first level of business is core business which has advantaged commodities, including sugar, cotton, oils&oilseed and plastic. Second is emerging business which includes nonferrous metals, gold, coke, grains, pta and rubber. Third level is embryonic business product portfolio which includes future option and financial futures, In addition, the company should strategically cooperate with bank or other financial institutions to make up their weakness in financial futures areas.To ensure the smooth implementation of strategies, the organization structure of Wanda Futures should be adjusted appropriately, it also need to establish regional management center and advantaged product division to enhance the strength of market process. Meanwhile, it is necessary to promote the informationization of the management to guarantee enterprise strategies can be achieved by technology. Finally, Wanda Futures advocates’Five lover&Three Bossmanship’as enterprise culture to support the implementation of development strategies. |
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