Name: Shiery Mae C.

Falconitin
Course: BA 307 – Entrepreneurship and E-commerce

THE JOURNEY OF KOK WENG AND MING

(Aluminum industry)

Background of the case:

The case was all about the journey of Kok Weng and Ming, who started their own
aluminum window and grille manufacturing business in Singapore. Kok Weng, who had
previously worked as an apprentice in an iron works, noticed that aluminum was a
better option for window frames, and thus, they started their own business with a
modest investment of $20,000. The business grew steadily over the years, and with the
help of a bank loan, the couple purchased land to build a small factory. They expanded
their product line and hired more employees.
However, despite the company's success in terms of sales, there were several
operational issues that Kok Weng and Ming were facing. Some accounts were overdue,
and there were cash flow problems. Kok Weng was the go-to person for most decisions,
and the employees relied heavily on his guidance. Furthermore, the couple had not
taken a vacation since starting the business, and they were struggling to save money.
The case highlights several challenges faced by small business owners, such as
balancing operational and financial responsibilities, delegation of responsibilities, and
the need for a work-life balance. It also emphasizes the importance of proper financial
management and delegation of responsibilities to avoid burnout and ensure the
longevity of the business.

Answers:

1. Kok Weng and Ming's business is facing various challenges that require
immediate attention. Poor financial management and planning, inconsistent
pricing, over-reliance on Kok Weng, and lack of work-life balance are all posing
significant threats to the business's long-term sustainability. Addressing these
issues will be critical to ensuring the success and sustainability of the business.
 By improving financial management, delegating responsibilities, maintaining
consistent pricing, and prioritizing work-life balance, Kok Weng and Ming can
enhance their business's productivity and profitability while avoiding burnout and
ensuring long-term success.

2. For Kok Weng and his wife to have a normal vacation, they must ensure that the
business can operate smoothly without him. One essential step is to delegate
responsibilities to his employees and trust them to make independent decisions.
This will reduce his workload and allow him to relax without worrying about the
day-to-day operations of the business.

Kok Weng needs to improve financial management to ensure the business's

sustainability. By implementing better financial planning and management
practices, such as tracking cash flow and avoiding inconsistent pricing, he can
reduce the risk of financial problems arising when he is not there to oversee
operations. Also, Kok Weng and Ming should prioritize their own work-life
balance by taking time off to rest and recharge, preventing burnout and
promoting productivity upon their return to work.

3. If I were to come in to manage the company, what would I do is to give enough

attention to improve the company, including its financial management, strategic
planning, sales and marketing, operations, leadership and management
structure, and employee engagement. A thorough renovation is needed to
address the company’s challenges and establish a clear strategy and
sustainability. By focusing on these areas, the company can position itself for
success in the highly competitive aluminum fabrication industry.