Strategies for Managing Gem Business and Jewelry of Entrepreneurs to Compete in the Global Market

Abstract

The purposes of this research were to: 1) study the operating conditions of gems and jewelry business of exporters, 2) study the components of gems and jewelry business management elements of entrepreneurs to compete in the global market, and 3) develop and formulate strategies for managing gem business and jewelry of entrepreneurs to compete in the global market. The samples were of 351 people gem and jewelry business operator. The instruments used in the study were questionnaires and interview forms. Data were analyzed using frequency, percentage, mean, standard deviation, Factor Analysis, Correlation Coefficient and Stepwise Multiple Regression Analysis. The study indicated that: 1) The operating conditions of gem business operators and jewelry showed that most of them have small and medium businesses with the employees 200 people and the operation of 6-10 years. The business characteristics included produce their own products for domestic sales and for export and it was found that their problem in marketing were the products design unsatisfied the consumers. 2) Business management components showed that the operator employed five strategies ie: (1) Marketing analysis is conducted on the potential competitors in the same market. This is the basis for marketing planning. (2) Innovative design is always sent to personnel to study jewelry and jewelry in foreign countries to develop business. (3) On the Resource management, it was found that there was a supply in modern machine production. (4) The production process is based on the use of resources. (5) Management within the organization has been clearly stated. 3) On the development a strategy for jewelry and gem business management for global competition, it is suggested that the entrepreneur must have effective management of resources with a clear division of work and the process must be balanced with nature.