Local Firm's Response to Global Financial Crisis: a Case of an Apparel Factory in Lao PDR

摘要

This study analyzes a small local apparel factory's strategic response to the recent global financial crisis in 2008 based on strategic approaches. Before the crisis, small Laotian-owned apparel factories operated mainly on a subcontracting arrangement with general contractors who produced based on orders from brand owners in abroad. The crisis broke down such subcontracting arrangements; thus, the apparel factory under study has turned to produce for local markets through enhancing its strengths, minimizing weaknesses, taking opportunities and hedging against threats. With increased trade liberalization, growing tourism industry and its growing strengths, this factory can also produce its own brand products for foreign tourists in Lao PDR as well as for export markets.