Return to 78: Why are all the Americans panicking about doing scientific research?

The atmosphere turned serious as Joseph mentioned the island nation’s advantages in home appliances.

A dozen directors looked at each other, and solemn expressions appeared on their faces at the same time.

Among the various home appliances previously sold by Best Buy Group, those from the island country accounted for 50%.

"Ladies and gentlemen, Northern Machinery is an important partner of our Best Buy Group."

"The same type of products produced by Dragon Country and Island Country will have completely different final ex-factory prices."

Joseph gushed on: "Many people in the country are seriously dissatisfied with the products of the island country. It is time to change our strategy and transfer our supply channels to Dragon Country."

The directors present and the top management of the group all knew what Joseph wanted to express.

A new direction of economic development adopted by the island nation shortly after the end of World War II.

Two-way trade.

The so-called two-way trade refers to the island countries importing large quantities of cheap production materials from overseas.

It is processed in the country and finally exported overseas again.

Through this inflow and outflow, the island country obtained a large amount of development funds and also earned the reputation of having high-quality and low-priced products.

The trade surplus once ranked first in the world.

In the mid-60s, products from the island nation began to flow into the U.S. market.

This created a business situation in which the island nation had a surplus and the United States had a deficit.

From 70 to 80, for a full decade, the American business community and the island nation engaged in a protracted business confrontation.

The core of the commercial confrontation was none other than color television.

The per capita ownership of color televisions in the United States is nearly 100%, and among this 100% data, 70% of the color televisions come from island countries.

Three years ago, in order to restrict the export of color televisions from the island country, the United States set up trade barriers and strictly limited the number of color televisions exported to the United States each year.

The island nation's exports of television sets dropped from tens of millions at its peak to 1.5 million.

Faced with an unfavorable situation, the island country will naturally not suffer in silence.

Unable to confront the United States head-on, the island country's television manufacturers began to acquire a large number of companies in the United States and produce televisions.

While the friction over television sets was in full swing, the U.S. auto industry once again fell into a cold winter due to the intervention of the island country.

The three major automobile manufacturing giants were severely hit by the island country, and their market share continued to decline.

Steve, the president of the group, said, "The country is reducing the amount of televisions imported from the island country. The public's demand for color televisions is a cake that no one can ignore. Do you think Mr. Joseph's suggestion should be given priority consideration?"

Steve thinks longer term than most people.

The US government is gradually strengthening its relationship with Longguo. At this time, ordering color televisions from Longguo will not only not be blocked by the government, but may even receive a series of official support.

Everyone was silent.

It’s not that they don’t want to import color televisions from Longguo, but they don’t know much about the performance of Northern Machinery Company’s color televisions.

If the performance of televisions produced in the United States is not even as good as that of domestic ones, Best Buy Group will inevitably have a serious backlog of goods if it imports large quantities of them.

What is piled up is not only televisions, but also a large amount of working capital.

Seeing that no one spoke up to support him, Joseph said, "Ladies and gentlemen, please recall carefully what I just said."

"Lin Kaifeng recruited a large number of scientists in the semiconductor field. What was his purpose? To make their products more technologically competitive. The chips and processors in the semiconductor industry can be used in a variety of technological devices."

"TV sets also require semiconductor chips with advanced performance."

After the words fell, Steve said in a deep voice: "I support Vice President Joseph's suggestion to place an order with Longguo in advance and require Northern Machinery Company to provide a certain number of color TVs within the time we specify."

"This business is a big gamble for us. Once we bet right, the listing of the group will become a smooth process."

As soon as these words were spoken, everyone's thoughts shifted to another direction at the same time.

When a company goes public, it not only gains market influence, but also a large amount of capital.

Best Buy Group was able to grow from a small electrical appliance store to a well-known chain group in the electrical appliance field step by step.

It always comes down to not taking the usual path.

In order to sell as many products as possible, other chain stores have significantly increased the sales commissions of their sales staff.

Hire salespeople who are eloquent and good at motivating consumers to buy.

Best Buy Group took a completely different path. Instead of hiring a large number of sales staff, it reduced the number of sales staff again and again.

While other companies significantly increased their sales commissions, the group cancelled its sales staff's sales commissions.

By increasing their wages, sales staff can stand from a professional and objective perspective and introduce to customers products that truly meet their needs.

Instead of blindly selling high-priced electrical appliances with average performance to customers.

By reducing labor costs and purchasing costs, they sell goods to consumers at the lowest price.

Every decision made takes the industry by surprise.

The benefit of doing this is that Best Buy Group grew from a small store to a large enterprise in just over a decade.

The problem is that it has seriously affected the group's cash flow.

As a result, the group's development has always been in a slowly upward trend.

Once the company is able to go public, the funding problems plaguing Best Buy Group will be effectively resolved.

Six years ago, Walmart, a competitor of Best Buy Group, successfully went public.

The market value tripled that year, and the net profit reached US$400 million.

Joseph said persistently, "Ladies and gentlemen, in some ways, running a business is no different from gambling. It's all about who has more determination and courage."

"Due to various constraints, it is difficult for Chinese companies to expand their reach into overseas markets in a short period of time. They need our help to sell Chinese products overseas."

"Only our Best Buy Group can sell new home appliances from Longguo to all parts of the world. Lin Kaifeng must rely on us. There is no need to worry about the supply of products."

Then, everyone started voting by raising their hands.

With the support of group president Steve, more and more directors and senior executives support Joseph.

Joseph was indescribably excited to see the situation gradually turning in his favor.

By purchasing air fryers and induction cookers, Joseph's voice in the group began to gradually increase.

This new TV project will once again bring huge profits to the group.

Not only will Joseph be able to join the board of directors, he may also become the head of a new company.

If not.

Joseph would not have repeatedly encouraged everyone to agree to place orders with Lin Kaifeng in advance.

Helping Lin Kaifeng to grow stronger is also helping Joseph to develop himself.