As the capital market operations gradually improved, family businesses were keenly aware of the dynamic changes in the market and decided to upgrade their industries and actively explore emerging fields to maintain their leading position and the momentum for sustainable development.
The company's top management first conducted a comprehensive assessment of its existing core industries and found that although the current business was still profitable, it was gradually showing signs of fatigue in terms of technological innovation and market competitiveness.
"We cannot be satisfied with the status quo. We must increase investment in research and development, introduce advanced production technologies and management models, and promote industrial upgrading." The company leader said firmly at the strategic meeting.
Therefore, the company invested a lot of money in equipment upgrades and technological transformation. However, during the implementation process, it encountered problems such as difficulty in introducing technology and long equipment commissioning cycles.
When the technical team negotiated with foreign suppliers to introduce key technologies, they encountered harsh conditions and technological blockades.
"We cannot be led by others. We must speed up the pace of independent research and development, and at the same time find other channels for cooperation to break through technical bottlenecks." The head of the R&D department led the team to overcome difficulties day and night.
There were also many problems with the installation and commissioning of the new equipment, which led to production stagnation and increased costs.
"The production department and the technical department must work closely together to resolve equipment debugging issues as quickly as possible to reduce the impact on production." The company's senior management went to the scene to direct and coordinate.
While upgrading their industries, companies are actively exploring emerging fields. After in-depth market research and analysis, they have set their sights on cutting-edge areas such as biotechnology and artificial intelligence.
However, entering an emerging field means facing enormous risks and uncertainties. In the early stages of biotech research and development, due to insufficient expertise and technical accumulation in the field, project progress is slow.
"We must quickly establish a professional R&D team, and at the same time cooperate with universities and research institutions to leverage external forces to accelerate project progress." The company took decisive measures.
Competition in the field of artificial intelligence is extremely fierce, and companies face tremendous pressure in attracting talent and innovating technology.
"The human resources department must attract top talent at all costs, and the R&D department must dare to innovate, break through traditional thinking, and create products with core competitiveness." Corporate executives have pointed out the direction for the development of emerging fields.
In addition, the huge investment demand in emerging fields poses a severe test to the capital chain of enterprises.
"The finance department must do a good job in financial planning and risk assessment, arrange funds reasonably, and ensure that research and development and operations in emerging fields are not affected by funding shortages." The company has strengthened financial management.
In the process of industrial upgrading and exploration of emerging fields, enterprises also need to respond to rapid market changes and policy adjustments.
Policies in an emerging field were suddenly tightened, and originally planned projects were restricted.
"Policy research departments should pay close attention to policy developments, prepare response plans in advance, and adjust business directions in a timely manner." Companies responded quickly.
At the same time, changes in market demand have also forced companies to constantly adjust their strategies in product positioning and marketing.
"The marketing department should strengthen market research, keenly capture changes in market demand, and provide timely feedback to the R&D and production departments to ensure that products meet market demand." The company emphasizes the important role of the marketing department.
After a period of hard work and exploration, the company has achieved some breakthroughs in industrial upgrading and exploring emerging fields. However, new problems have also emerged, such as resource allocation conflicts between emerging and traditional businesses and poor collaboration between teams in different fields.
"We need to establish a scientific resource allocation mechanism, strengthen cross-departmental communication and collaboration, and form a joint force for coordinated development." The company's top management once again organized a seminar to seek solutions.
In the future, family businesses will still face challenges in industrial upgrading and exploring emerging fields, but the company firmly believes that as long as it maintains keen market insight, a spirit of innovation and firm execution, it will be able to achieve transformation and upgrading and open up new development space.
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