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Case Study of Midland Property

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Essay title: Case Study of Midland Property

Section Contents Page

1 Executive Summary P.3

2 Organization Background and Competitor Analysis

пЃ¬ Background

пЃ¬ Mission Statement and Organizational Values

пЃ¬ General Environment Analysis

пЃ¬ Competitors Analysis

пЃ¬ SWOT Analysis

 External Analysis:-Porter’s five forces model

пЃ¬ Financial Statement Analysis P.4-17

3 Key Issues and Problems P.17-20

4 Recommendations

пЃ¬ Short-term

пЃ¬ Long-term P.20-22

5 Implementation Plan P.22-

6 Conclusion P.

7 Appendix P.

Section 1 Executive Summary

In this field project, our study company is Midland Group. It is the chain property agency with the longest history in Hong Kong. We only focus on property agency residential services only, due to the relevant information we got from interview. We have conducted an interview with one of the CEO in Midland Group, Dr. Sidney Sze. We talked about the Midland group’s different business units from residence agencies to financial services subsidiaries. We address the local and external factors that affect the company. We found that ethical issue and CSR (corporate social responsibility) are typically important for Midland Group due to the special services they cover. We are able to apply different strategic management concepts, theories and principles that we learnt before. Such as SWOT, Porter’s five force model etc. Value Chain Analysis is not included as it is not a key factor respect to core business.

We also identified problems and issues that are key successful factors for the group. After that, we used “need analysis” to find out what recommendations are needed. To be more practical, we designed some action plans in views of different departments. These implementations may sound out-of-box but we believe that innovation is crucial for the sustainable development for the group.

Section 2 Organization Background and Competitor Analysis

Mission Statement and Organization Values

Mission statement

"Customers come first"

This shows that Midland use customers’ satisfaction as key successful factors and measuring indicator.

Values

"Think customers; be responsive; take initiative; be innovative; work as a team and scale new heights."

Employees are guided to offer service that is Prompt, Precise and Professional. The group desire to build credibility on integrity and differentiate through professionalism.

Company Background

Midland Holdings Ltd. is a real estate agency company who majors in conducting sales between buyers and sellers. It’s established in 1973 by its current chairman, Wong Kin Yip, Freddie. Its principal activities include real estate broking of all types of properties, secondary sales, rental of all types of properties and provision of real estate marketing services. Its key stakeholders include, Accounting Firm (Auditors): PricewaterhouseCoopers; Main Contacting Banks: The Hong Kong and Shanghai Banking Corporation Limited, Fubon Bank (Hong Kong) Limited, UBS AG, Agricultural Bank of China; Hong Kong Legal Advisors: Iu, Lai & Li Solicitors & Notarie; Shareholders and Hong Kong government.

Key operation

Its core business, as an agency, focuses in Hong Kong, Macau and Mainland property markets. It deals with buyers with purposes such as self-use, investment and rental, and sellers of new flats (property developers) and secondary sales (previously buyers). By helping the two parties engage in transactions and also providing professional opinions to buyers, it charges commissions for these services.

Current Situation of Hong Kong

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