A TRAVELING PLAN FOR GOING ABROAD
Yang Yifeng Email:yangyifeng@yeah.net
Australia is the 6th big country of land area in the world and the only country which monopolize a total continent. It is also the biggest country in Oceania. All sides face to ocean. Extensive land and rich resources abound in these areas. The resident of Australia are used to raising sheep, named ”a country mounted on sheep”. Australia possess plentiful aboriginal history dating back to 50-thousand years old, legendary figure and pioneer, and also the famous international film star.
I decide to view the attractive nature beauty of Australia and feel the vitality and comfortable mood of Australian, in order to drive away from this mortal life temporarily to recall the true meaning of life.
I make a traveling plan for me as follows:
一、TIME: January 1st-28th 2014
二、PLACE: Australia
三、TRAFFIC: by air
四、PREPARATION:
Passport、passenger ticket、pocket money、cellphone、medicine、umbrella、personal computer、clothes
五、TRAVELING LINE:
It is my aim to know the history 、culture、food and art of Australia to travel Australia, so that I can make a deep exploration what is the reason to make Australia powerful and diversify. So I make the travel line as follows:
1、 The Rocks
The history of The Rocks is rich and colorful, but now it occupied by many exquisite things . So I can enjoy the wonderful works of different artists.
2、 Melbourne International Comedy Festival
There's something to satisfy the tastes of everyone.
3、 Adelaide
There is the most comfortable place to view the folk custom and cultural.
六、Attention:
The pay day is Thursday and Friday in Australia , so many restaurant、bar and Department Store will have a Night Shopping.
一份专业的商务计划书
作者:田晔
小序
如果没有许多人的帮助和支持,当时无论如何我是无法完成这个计划的。在这里,我要首先感谢Corbett,Nancy(Morgan Lewis)女士和Ji,Suhai(J.PMorgan)先生,正是他(她)们的鼎力支持才使我迈出这一步。我也要感谢我的同学陈丽雯、池海、陈培、董宁、顾萃红、胡懿、黄晨、邱天、汪轶溟、王琦、许锓、赵学鸣、朱彦、朱勤、张能、张企宇。他(她)们努力的精神、出色的工作都给我留下了非常深刻的印象。虽然由于市场环境的突然变化,他(她) 们的劳动没有带来一家公司的成立,但是那些劳动的价值都已经凝聚在这份商业计划里了。 当然,我还要感谢提供各方面帮助的朋友们。他们是:
Baker,Malcolm (HarvardBusinessSchool)
Chen,Zhongjue (HarvardCollege)
Chan,Robert (HarvardCollege)
Gompers,Paul (HarvardBusinessSchool)
Hui,Albert (HarvardCollege)
Hui,Stephanie (HarvardBusinessSchool)
Kohn,Harry (MyHostFamily)
Liu,Thomas (698Capital)
Mackenzie,Richard (WesleyanUniversity)
Rice,Ian (J.P.Morgan)
Sull,Don (HarvardBusinessSchool)
Tang,Zhigang (HarvardBusinessSchool)
Wu,Qinghuan (HaiLuKunLunHighTechEngineering)
Ye,Greg (ChinaInternetGroup)
Yangling (SmithCollege)
Zhou,Jialing (HaiLuKunLunHighTechEngineering)
Zhou,Beini (HarvardCollege)
Zhou,Hongsong (HarvardUniversityGSAS)。
我觉得写一份商业计划对于整理自己的思路,与潜在的合作伙伴沟通都很有益处。所以把这份商业计划拿出来与大家共享(虽然其中仍然有很多可以改动的地方,因为想保留原来的真实感,所以没有做过多的编辑。也没有翻译成中文。),希望对有些人来说能有一点点价值。 GoldenCareer.com
Business Plan
May 9,2000
Table of Contents
Ⅰ.Executive Summary
Ⅱ.Business Concept
Ⅲ.Product and Service
Ⅳ.The Team
Ⅴ.Market and Industry Analysis
Ⅵ.Marketing and Promotion
Ⅶ.Operation Strategy
Ⅷ.Financial Summary
Ⅸ.Risks
Executive Summary
Vision
GoldenCareer.com, the First Prize winner of the Harvard Student Agencies Entrepr eneur Contest in 2000, is dedicated to providing comprehensive, lifetime career development services to the educated young generation across China.This demogra phicsgroupsis computer literate and is keenly focused on career development as j ob opportunities and social mobility in China continue to improve.There is cur rently no standalone web site in China primarily targeting the tertiaryeducate d populationGoldenCareer.com will be the first to fill this vacuum, positionin g itself as the premier job portal linking the large number of nonstateowned enterprises (nonSOEs) and graduates from top Chinese universitiesGoldenCareer aspires to become the No.1 online career site in ChinaOur strat egy is to stay with our customers over their working life, and provide them acce ss to our extensive recruiting networks and offer them trusted advice every step of the wayGoldenCareer.com is also seeking to be the first exclusive online job service provider to many uniwersities/colleges in China.
Products/services
The diagram below summarizes the product and service offerings by GoldenCareer.c om.
Management team
GoldenCareer clearly understands that an effective management team is critical t o its success and thus is dedicated to building a strong, tightly knitsgroupswit h deep local knowledge, proven managerial abilities, strong academic background, and extensive international exposure.To date, we have received commitments fro m some very talented individuals.And GoldenCareer.com will keep upgrading the management team to lead the venture ahead in full gear.
Market
Fast economic growth, a released planned HR system, and increasing market compet ition create surging demand for qualified human resources.This is particularly true in the nonSOE sector.In 2000 an estimated 8.4 million job opportunities a re created in the nonSOE sector, which grows at 19%.Currently, only 15% employ ers use the Internet as a recruiting channel.However in 2005, this figure is ex pected to reach 40%.In sum, although Chinese online recruitment advertising mar ket is still small now (about /data0/apache/share/cgi-bin/publish/doc_publish.pl.1 billion), it is expected to hit .1 billion in 2005.On the other hand, the Chinese people, especially the educated young ge neration, are more ambitious, selfaware, and eager for better career opportuni ties.Our targetsgroupssize was 20 million in 1999 and will grow to 28 million in 2005.These days, college students and young professionals are crowdingsintosfo reign invested or private companies.The job switch rate has increased significa ntly in the past years.However, their career services are not satisfied.There is a huge demand and supply gap existed in the market.GoldenCareer expects a qu ick penetration and a surge of registration in a short period of time. Competition
There are about 250 job search web sites in China.Benchmarked with competition , GoldenCareer holds distinctive competitive advantage over even these most sign ificant existing players.
GoldenCareervs.the Comp etition(略)
Operation
GoldenCareer's internal organization and operation processes should assure time ly delivery of targeted results.The company will first form a national managemen t and research team and meanwhile launch 4 regional offices by the end of 2000: Shanghai, Beijing, Guangzhou and Shenzhen.The first phase (10 months) growth w ill be dividedsintosthree steps: preparation, pilot operation and fullscale ro llout.Each step has its specific tasks and measurements.
At the end of the first phase (ending April 2001), we expect GoldenCareer to rea ch an operating record of 15,000 related companies, 100,000 online job postings,
500,000 subscribers and 200 exclusive service contracts with universities/colle ges. Financial summary
The most attractive feature of GoldenCareer's business is that it has a strong revenue model, and thus can achieve huge profits at a short period of time.Golde nCareer's revenue mainly comes from two sources: job posting and recruiter s' on line advertisement.GoldenCareer expects to reach the breakeven point in the four th quarter of 2001, 5 quarters after initial rollout.The upside potential for G oldenCareer's business is huge.In 2005, with its annual job posting volume reac hing
3.5 million, the company will be able to generate million in net profit s.
The future potential will only be fully exploited with sufficient funding in its early development stage.GoldenCareer needs to be funded at least ,400,000 in total by Q3 2000.The capital will be used to establish four regional offices a nd launch proposed marketing and operation activities.Financial forecast reveal s that cash requirement will reach its peak in Q2 2001, at about .3 million.H owever, the company will turn to positive operation cash flow in Q3 2001 and in Q2 2003 GoldenCareer will be able to pay off all the initial investments pouredsintosthe company. The Business Concept
Value proposition
GoldenCareer's mission is to become the leading online career service prov ider t o Chinese college students and earlycareer graduates (college graduates with 15 years working experience).By offering comprehensive online career informatio n and guidance, GoldenCareer will be able to develop a loyal, focused and highq u ality subscriber base, thus be at a competitive position in providing qualified human resource services to China's emerging nonSOE companies.
Specifically:
To recruiters GoldenCareer will offer costeffective and responsive human re source services, including realtime job posting/emails, complete company and industry profile, resume screening, routing and searching.Our presence at the t op
Chinese universities and close relationships with students and young professi onals can make company's recruitment a lot easier, faster and more focused.We wi ll also provide research and advice to recruiters who want to improve their recr uitment efficiency.
To current college students and recent graduates GoldenCareer is a nationwide c areer service network providing people free access to a great number of job oppo rtunities and comprehensive career development instructions.The interactive, p ersonalized tools from GoldenCareer will make the career information seeking pro cess very effective and convenient.Hence, it's a free service!
To college career service offices GoldenCareer simplifies the recruiting proce ss, reduces career service offices' workload, and serves as an alternative chan nel for student placement.Our realtime job posting data, synthesized analysis and feedback from recruiters can also give valuable information to the schools. Target Customers
Recruiters
GoldenCareer will focus its resources on nonstateowned enterprises (nonSOE ).This includes foreigninvested enterprises, private companies and listed comp anies.In 2000, there are about 0.6 million nonSOE companies employing approxim ately 38 million people, which account for 25% of nonagricultural workforce in China.
We choose the nonSOE sector as target recruiters for 3 reasons:
They are far more attractive to young generation job seekers.Unlike SOEs, whi ch is hierarchical, much lowerpaid, and suffocating in working environment, em erging nonSOE companies are generally entrepreneurial and can provide people w ith far better training and job satisfaction.Accordingly, nonSOE companies are the first career choice for almost all college students and earlycareer gradu ates. They lack costeffective channels to spot high quality employees.90% of nonSOE companies in China are medium or small in size (less than 150 employees).B
ecause of a small recruitment budget and college career offices' unfriendly atti tude to them, they constantly encounter challenges in recruiting qualified emplo yees to further their company's growth.
They are growing at a much faster rate and are concentrated in big cities.In 1998 nonSOE companies created a total of 4.5 million jobs, which signified a 1 9% growth.Meanwhile, SOE sector experienced a 4% decline in total number of
jobs .Because of the competitiveness of nonSOE firms, they are eroding the market p reviously dominated by SOEs and are gaining increasing significance in the natio nal economy.
Within nonSOE companies, GoldenCareer will give priority to foreign invested c ompanies.First, these companies are usually at the top of college students' job list because their employees are generally better paid and job satisfaction is o ften higher.Second, many of the foreign invested companies are the industry lea ders, soshavingstheir names on the recruiter's list can help attract more employ ers from the industry.
Subscribers
GoldenCareer will target current college students, and earlycareer graduates w ith less than 5year working experience.In 2000 there are 21.5 million populati on in China fallingsintosthis category.
We choose the above population as targeted subscribers for 3 reasons.
Though students and young professionals are in desperate need of career infor mation and guidance, the traditional channels fail to provide them with enough a ssistance.Compared to senior people who have many years of experience and wellestablished connections in their business, students and earlycareer graduates are hungry for both sophisticated career development guidance and better access to career opportunities.
For example, most career offices in Chinese colleges still carry out a“planned economy”methodology when serving their students.Stateowned enterprises (SOE s) get their employees through the planned“job dispatching system”from caree r
offices.However, nonSOE Job postings through this channel are limited becaus e college career offices just wait for them to come.Consequently, students and r ecent graduates largely rely on public career forums and personal connections to find desirable nonSOE employers.
College students and recent graduates are early Internet adopters.They curren tly account for more than 60% of China's Internet users and represent a demograp hic segment with the highest Internet penetration.
This segment is uniform in nature and relatively easier to target.Many job s earch web sites that currently operate in China lack a clear focus.They spend e xtravagantly on mass media to reach customers, only to find that their target au dience is not interested in their services.On the contrary, GoldenCareer will p romote through various communitybuilding activities, including oncampus care er assistance seminar, personal career development counseling, and targeted mail ing.These activities will be well tailored to target subscribers' needs and costeffective as well.
Products and Services
Subscriber Services
The recognition and loyalty from a large base of quality subscribers is critical to GoldenCareer's success.Therefore, GoldenCareer will commit the majority of its resources to offering subscribers a comprehensive set of career support serv ices to satisfy expectations people have in their career decision and job huntin g process. Industry and Company Information
GoldenCareer.com will provide comprehensive industry introductions and
companies ' profiles to subscribers who just start their careers or look for a change in career.Information also includes past career counseling (see below) records rela ted to the industry or company, recommended books, training and publications (su bscribers cansgroupsonline from GoldenCareer.com), other subscribers' insi der comments and GoldenCareer volunteer advisor's contact information.
By clicking through the site, subscribers will get an insider's understanding of general operations, compensation, required skills, company ranking, and possibl e training material relevant to their preferred industry.Moreover, subscribers can get access to selected companies in the industry, can review their past job postings on GoldenCareer, and ascertain specific job requirements and compensati on
information.They can also find information on company culture and insiders' comments helping them to decide whether the company is a good fit or not.If the online information is not sufficient to make a decision, interested subscribers will be instructed to contact other subscribers who have worked there and are w illing to share their experience.
Career Development Guidance
GoldenCareer will provide a whole series of online contents to give subscribers detailed advice on how to make career decisions, how to find a job, and how to p erform well in the office.Contents include career decision making, aptitude and career preference interactive test, industry/company research, cover letter/res ume writing guidance, interview instruction, and star performer strategies.Info rmation also includes past career counseling records, recommended books and publ ications (subscribers cansgroupsonline via GoldenCareer.com), and linkages to re levant career development web sites.
Job Posting and Matching
By keeping and updating their personal information and career preference on Gold enCareer, subscribers are automatically notified by email as soon as a new job is available.Jobs are also posted online, with links to related industry and co mpany profiles, employer's reputation, culture, compensation level relative to t he industry, and other subscribers' comments regarding this particular employer. So, if a subscriber is interested in a job emailed to him/her, he will be attr acted to visit GoldenCareer.com for more information about the opportunity befor e making a decision.After a decision is made, he can also use our online resour ces to prepare for application.
Subscribers can contact the employer directly or ask GoldenCareer.com to send
up loaded resumes to the employer.Also, subscribers are encouraged to authorize th at their names and resumes be accessible to their preferred employers. GoldenCareer.com will provide both fulltime and parttime job opportunities.B oth job opportunities come from the samesgroupsof
employers.Moreover, by providi ng parttime jobs, GoldenCareer is able to establish its brand name among colle ge students before they face their fulltime career decision.Goldencareer thus enjoys the“firstmover advantage”by being the first and best online career service these students ever used.Shortterm parttime job offerings also attra ctstudents to our site 365 days a year, thus avoiding the impact of seasonality of student recruitment.
Interactive Career Counseling
The Internet allows interactive information exchange reaching a large amount of people at very low cost.Insgroupsto make our service more responsive and human to subscribers, GoldenCareer will launch three kinds of interactive career coun seling tools online:
1.Individual career adviceGoldenCareer.com will provide online free individual career counseling.Subscrib ers who would like to be advised should provide their resume and questions.Mean while they should authorize that their resume (anonymous), questions and the cou nseling results would be posted online for other subscriber's reference.
2.Online chat room with career counseling expertsGoldenCareer.com will
frequently invite company HR managers or experts to host a 2hour online chatting with subscribers on some specific topics.These chatting records will also be kept at GoldenCareer for subscribers' reference.
3.FAQs responseSubscribers are welcomed to raise questions on GoldenCareer's bulletin board or via email.For frequently asked questions GoldenCareer will give an answer, email the answer to interested subscribers, and post it online. Real time careerrelated emails
Email will be an important channel for GoldenCareer to keep constant interacti on with subscribers.Subscribers will get constant email updates on new job pos tings, schedules for interactive career counseling and for future job fairs or o ther career related activities.Insgroupsto make sure that subscribers won't be b ored with the emails, they will be tailored to subscribers' stated preferences when they register.Subscribers are also free to unsubscribe certain types of emails anytime they want.A recruiter's advertisement will be addedsintosjob pos ting emails as well.
Recruiter services
For recruiters, recruitment time expenditure and finding a qualified, focused ca ndidate pool are two major concerns.Many nonSOE companies don't make human re sources planning for the longterm future.In most cases, companies need people because some employees quit their jobs, or because they are expanding too fast.T herefore, the shorter the recruitment time turnaround, the better it is to the c ompany.On the other hand, small companies find that ordinary job posting servic e (newspapers, media, job posting web sites) hardly offers them a good candidate pool.Because their job postings are viewed by people who don't know the employ er or who have no interest in the job, it may result in small amount of resumes with candidates who do not fit the job position well.
GoldenCareer is in a superior position to provide companies with fast, high qual ity, and wellfocused human resource services.GoldenCareer subscribers are grou ped by preferences, well informed of their interested industry and company infor mation, and well prepared for the potential opportunities.This is the employee candidate pool that recruiters hope for.
Fast subscriber notification
With realtime email job notifications to target subscribers, GoldenCareer en sures employers that candidate responses to them will be quick, high quality, an d well prepared.GoldenCareer can also provide interested subscribers' resumes to employers so that the employers can contact them directly.Meanwhile, GoldenCare er will interview the company to draft a comprehensive company introduction and post
it online for subscribers' reference.This is also a good company promotion to potential employees.
Costeffective promotion to target subscribers
Most medium and small companies lack costeffective channels to get access to t arget employee candidates.By partnering with GoldenCareer, they are now able to post company advertisement, company promotion material and recent company recrui ting events online or via emails to a wellfocusedsgroupsof potential employe es. Also, companies that use Goldencareer's chat room can meet with subscribers onli ne, answering their career and company related questions and further promoting t he company's image.
College services
Specialized college career services web page
By signing exclusive contracts with college career offices, GoldenCareer will pr ovide free college career service web pages, protected by username and password, to students at the college.Besides access to all GoldenCareer's resources, the college web page will help college career offices to arrange college specific r ecruiting activities, broadcast information, and providing career guidance.By a llying with college career offices, GoldenCareer can create synergies with them by sharing content, recruiter information, and job opportunities.GoldenCareer p rovides the best service to college students.
Future products/services
GoldenCareer is dedicated to supporting the ambitious, careerfocused young gen eration in achieving their career objectives.GoldenCareer helps subscribers to s ucceed in their career, and their success will consequently generate more revenu e and a better brand name for GoldenCareer.In the future, GoldenCareer will exp and its service offerings along two directions: more offline, individual servi ces for highvalue, senior subscribers, and a concept of“GoldenCareer Communi ty”in which subscribers help each other, and junior subscribers are able to ha ve career
guidance from their senior GoldenCareer counterparts.
Senior subscriber services
With increasing experience and superior performance, more and more GoldenCareer subscribers will be promoted to higher levels.Senior subscribers generally requ ire more personalized services, and are eager to build up networks beneficial to their career.Accordingly, GoldenCareer will open personalized web page for eac h
established senior subscriber, make important job notifications via phone, and host offline parties for them.The senior subscriber community will be the key asset for GoldenCareer to attract both new subscribers and recruiters.
“GoldenCareer Community”
The ultimate prospect to GoldenCareer is to establish a communityswheressubscrib ers are able to help each other on career decisions, job seeking, and performanc e improvement.With more senior subscribers available, GoldenCareer will be able to achieve this goal by providing mentor/mentee mechanism, senior subscriber's success stories and etc.Junior subscribers will find it really worthwhile to pa rticipate in the GoldenCareer network, and senior subscribers will also benefit from other senior members and recruit talented junior subscribers to the GoldenC areer Community.
The Team(This part has been abbreviated for privacy.)
National management team
Though it is still in the formation stages, GoldenCareer clearly understands tha t an effective management team is critical to its success, and is thus dedicated to build a strong, tightly knitsgroupswith both excellent professional experien ce and strong leadership skills.Although a significant number of professionals exist who possess good experience on Chinese job market, it is rare to find tale nted managers who have good local insights, successful managerial experience, st rong academic background and extensive international exposure.Because of this, GoldenCareer is still searching for a permanent CEO and a CFO for the team.Howe ver, fortunate enough, we have had firm commitments from some talented individua ls who satisfy most of the
above requirements.
Advisory Board
Future key employees and staffing
Market and Industry Analysis
Career Services in China
Students and earlycareer graduates are currently poorly served by China's imma ture career service institutions.
While China was in a planned economy, there was no such concept as“job
hunting .”Students were allocated/dispatched to SOEs based on quota and order, and lif etime employment left people neither choice nor incentive to switch jobs.Even i f they did want to do so, the administrative hassle seemed endless.Consequentl y, until the late 1980s there were almost no real job market or career services in China. The country's transition towards a market economy has created a huge differenc e.People are demanding a more open labor market and more sophisticated, professi onal career services.Fast economic growth requires more and more skillful labo r.Intensive competition forces companies to pay a lot more attention to human capital.Young generation becomes increasingly selfmotivated and careerdriven .The widening income gap between the coastal area and hinterland also encourages people to movesintosbig coastal cities for better opportunities.In the recent 5-8 years, job placement firms, job fairs organized by various organizations, and headhunters are growing rapidly in China.As the Internet blossoms in China, the number of online job networks has also increased dramatically (table 2). Table 2-Recruiting Channels Adopted by Chinese Firms(略)
Source: 1999 Southern China Recruiter Survey
However, for most college students and earlycareer graduates, the puzzle of jo b hunting still remains.Finding satisfactory jobs is not easy.Deciding on how to start one's career is even more difficult.Schools provide very limited res
ources.People in the career offices often come from an academic or administrativ e
background without HR training.Information gathering is highly inefficient, a nd there is little career counseling, industry analysis, historical recruitment data, or crossregion career information available.Outside of school, headhunt ers mainly focus on middle management and higher executive levels.Job fairs ar e time consuming and hardly an efficient way of finding qualified candidates.On line players are emerging but their services are still limited and unreliable.C ollege students and other entrylevel job seekers are way underserved (table 3).
Table 3-Choice of Recruiting Channels by Job Seekers(略)
Source:Oct 1999 Survey in Beijing,Tianjin and Shanghai,SSIC(sample size 3500) Part time job and internship opportunities have been ignored for a long time.A s we stated before, enrolled college students increasingly want to have summer i nternship experiences or work part time to enhance classroom learning and broade n their understanding of the business world.Currently, students are hired as ma rket researchers, programmers, private tutors, translators, etc.via various inf ormal channels.If these needs can be matched in a more efficient and bettercoo rdinated way, a huge niche market will be created.
Taking a closer look at the career service industry in China, we find that the l evel of development also differs by geographic area.The job placement industry is relatively better developed in coastal areas than in hinterland.Coastal cit ies enjoy a much higher concentration of foreign investment and educational inst itutions.The top 4 cities, Beijing, Shanghai, Guangzhou and Shenzhen and their surrounding areas are the hub of human capital flow.Foreign headhunters often choose these cities to set up their China rep offices.In other places, some pr ovincial capital cities such as Chengdu and Wuhan also have large human resource s needs and some top tier colleges.GoldenCareer will first target the top 4 ci ties and will then enter several large hinterland cities.
Internet Development in China
Internet access was first made available to Chinese public in 1995 and the follo wing years witnessed an exponential growth of Internet users.The official China Internet Network Information Center (CNNIC) reported 620,000 users in November 1997,
and this number jumped to 8.9 million in January 2000.At the same time, a survey by BDA China and Strategicsgroupsprojects China's Internet usage growth will outpace all other countries except the U.S., skyrocketing to 10 million by the end of 2000, and 33 million in 2003 (Chart 4).
According to CNNIC Report in January 2000, out of the 8.9 million Internet users , 84% have a collegelevel or higherlevel education, 75.6% are between 18 to 30 years old, and 42.8% are between 18 to 24.By occupation, 21% of users are stu dents. China's Internet usage is still in its infant stage.Growth will come from not o nly the number of registered users, but also the quality of web content and onli ne products and services provided.It is important to play a market share game a nd secure a large customer base in this early stage.Getting big fast and captu ring the early Internet adoptersthe college student and earlycareer graduate s segment means tremendous upside potential as the overall users base continues soaring. Market Size and Potential
Recruiters
There are about 0.6 million nonSOE companies in China, 90% of which are smalltomedium in size.There are 38 million people currently working in this secto r.In 1998, nonSOE companies created a total of 3.9 million jobs, which signifi ed a 19% historical growth.According to a survey conducted by the Beijing Human Resource Market Co.(governmentbacked HR media for nonSOE companies), 2/3 of the job requirements they receive are new jobs while the other 1/3 are replaceme nt for existing staff.If this ratio can be applied to all of China, then there a re about
8.4 million job opportunities in the nonSOE sector in 2000.An estimat e of recruitment advertising expenses is approximately
US/data0/apache/share/cgi-bin/publish/doc_publish.pl.1 billion, growing a t a rate of about 19%(Table 5).
Chart 4-China's Internet Installed Base GrowthRevenue growth for online job posting and company recruitment advertising will b e fueled in three ways.First, the increasing significance of the Chinese nonSO E sector will generate more new jobs.Second, people, especially earlycareer gr aduates, will switch jobs more
frequently, since opportunities for them will be much more than it is now.The competition for qualified human resource will als o be more intense.Third, companies will rely more on online recruitment channel s.Currently 15% companies use the Internet as one of their recruitment channels .We expect the ratio to increase significantly in the next 5 years to 40%, comp arable to the current US level. Combining the above factors together, we forecast that there will be 23.3 millio n job opportunities in the Chinese nonSOE sector in 2005.Among them, 9.4 milli on jobs will be posted online, which is a growth rate of 48% from 2000 to 2005. That can translatesintosa approximately US.1 billion market (table 5). Table 5-Online Recruitment Revenue Size Forecast(略)
Sources:China National Statistics Yearbook;HBS case N9-800-304(Monster.com) Subscribers
Our target subscriber base is huge and growing fast.Every year, there are 1 mi llion students graduating from universities in China, and another 1.2 million gr aduates from Specialized Secondary Colleges (i.e.people who will be electrician s, nurses, elementary school teachers).In total, 2.2 million college graduates are actively looking for their first jobs each year.Furthermore, as our busin ess will also focus on part time job and summer internship placement, this actua lly includes the entire college student pool, which is about 8.8 million.There are another 9 million earlycareer graduates who graduated from college in the last 5 years (Table 6)
Table 6-Subscriber Size Overview(略)
* Including Bachelor 931 K and Master/Ph.D.53 K
Source: China National Statistical Yearbook 1999
Furthermore, the market has tremendous growth potential.There are multiple fact ors contributing to the growth (i.e.population growth in this age group).Most importantly, we believe that the public and private sectors' continuous effort s in improving education will drive the growth of student enrollment.College enr ollment
increased 6% every year in the 1990s.Government spending on education h as been increasing steadily since mid 1980s.Experiments on private education g rew
dramatically in the past five years.We expect this trend to continue.Overa ll, our target market is projected to be 20 million in 2000 and 28.3 million in 2005. Competitive Landscape
There are about 250 job search web sites in China, of which central and local go vernmentbacked ones account for 70%.These sites are handled by various levels of the Human Resource Bureau, which possesses information of workers in its affi liated stateowned enterprises (SOE).However, most of these governmentbacked portals are poorly organized in content, low end in technology, and unstable wit h regard to functionality.Most local bureaus still block access from individuals or even from nonlocal companies.Besides, governmentbacked sites serve prima rily SOEs, an unattractive segment that GoldenCareer won't target.
For nongovernment sites, over 2/3 are informational portals (sohu.com, for exa mple) with jobposting channels.Most of these sites treat job postings as merel y additional revenue.However because informational portals distribute their ener gy over a large range of commitment, the jobposting channel does not have adeq uate capital and human resources.Therefore, most of the portals in this category exhibit the following handicaps:
Little service and career guidance contents They hardly provi de industry/company research and career guidance for job seekers.
Lack of customer focus Most target the whole labor market cov ering all industries and all demographic groups.Posted jobs range from dish wash er to general management.Also, their search engine generally does not categorize different jo bs effectively, thus causing confusion and inconvenience to jobseekers.
Purely local presence Many sites list jobs only within their host city because of lack of national presence.
Obsolete information Many jobs posted on the web site have already been take n.However since there are not enough resources to take care of this information ,
these web sites usually end up with a long list but a low percentage of valid jobs.That often arouses customer fluctuation.
Realsense online career sites emerged no more than a year ago.Besides informat ional portals, there are two types of existing players in the market that has si milar employer and/or subscriber target as GoldenCareer.
Local career sites: Provide job search and resume servi c es to mostly coastal is the no.1 player in this category.
Studentfocused sites: Provide information and service s to college students.J ob search and career development is an important channel in these portals.Curre ntly there are still several such portals in China, in which campusall.com turns out to be the most recognized one on campus.
Below are introduction of the most significant players identified in each catego ry.
Local Career Sites
Founded in early 1999 by an exBain consultant, Nan LU, 51jobs.com has grown in less than a year to become the leading career site targeting whitecollar profe ssionals.With 28,000 job listings and an average daily page views over 350,000 (as of March 2000), it claims to be the largest recruiting site now in China.
51job.com's early success could be partly attributed to its partnership wi th Car eer Post (“Qian Chen Weekly”), a leading recruiting newspaper among Beijing an d Shanghai's whitecollar workers (current circulation exceeds 300,000).Cobrande d with Career Post and offering free online job postings to Career Post's cust omers, 51job.com quickly established its brand recognition.The network effect at tracts both corporate recruiters and their potential employees.So far, more th an half of the Fortune 500 companies in China are its clients.In February 2000 , 51job.com formally formed a strategic alliance with Career Post and a Beijingbased head hunting firm,“Run An,”aiming to become a career service provider for
professional job seekers of all ages.
As noticed, 51job.com is entering the college recruiting market by organizing an online job fair for college graduates for the year 2000 recruiting season. www.chinahr.com
Second largest career site, currently has about 28,000 job listings an d over 55,000 registers in its resume bank
Partnering with multiple portals, i.e.Yahoo China, Sina.com, China.co m, Sohu.com, Netease.com (163.com)
College channel has attracted over 22,500 college senior students, acc ounting for 40% of its registered job seekers
www.Z
Founded in 1997 by a famous local headhunting firm, the company was quoted by th e Times with highest potential in 1999.Its current page views number over 60,0 00 per day, registered users number 10,000, and registered recruiters number ove r 1,000.However their management team is local and unsophisticated.They a lso suffer from limited funding.
Studentfocused sites
Campusall.com is an online student life portal dedicated to all Chinese students around the globe.Cofounded by recent HBS graduates (Lion Chang, HBS 98; Joe N gai, Harvard MBA/JD 00) in September 1999, Campusall.com has opened offices in H ong Kong, Beijing and Shanghai since then, targeting college students first in m ainland China and Hong Kong.Recently, Campusall.com has signed deals with a few local universities to become the personal email provider to their students.
Benchmarked with competition, GoldenCareer holds distinctive competitive advanta ge over even these most significant existing players (below).
GoldenCareer vs.the Competition(略)
Looking forward, besides domestic competition, foreign players may also enter in to the lucrative China market.Monster.com, the biggest online career site in th e US, has expressed its interest in enteringsintosChina.As the No.1 career net work in the States, Monster.com now has 50% share of the online recruitment adve rtising market.Over the past four years, Monster.com's revenue had increased almost twentyfold from .9 million in 1996 to .5 million in 1999.Monster. com offers job posting and matching, email notification, online chatting servi ces and is dedicated to build up an online community.If Monster enterssintosChin a, it will probably copy its US model and export itsintosChina.
Monster holds strong competitive advantages against all local competitors on the following dimensions:
Financial backing: Monster's No.1 brand name in US online career industry gi ves it good financing leverage for international expansion.Also, the company sta rted to generate some cash from its current business: In 1999 Monster achieved million in operating income.
Experience: Monster has accumulated good technological and managerial
experien ce in online career services.These experiences, if transferred properly, can gi ve Monster a huge competitive edge against local competitors.
GoldenCareer believes that though Monster.com constitutes a big potential threat , GoldenCareer will be less influenced than other domestic players, because we w ill have enough financial backing to counter the threat.The technological and managerial expertise at GoldenCareer is also world class.On the other hand, Mon ster still needs to build its brand name, its customer relationship, and its con tent in China from scratch.These business components can hardly be transferred from country to country.Besides, compared to Monster.com, we believe that Golde nCareer holds the following strengths:
Exclusive alliance with colleges and other parties: GoldenCareer would like t o maximize its firstmover advantage by locking out as many potential partners as possible.By providing exclusive online career services to major colleges in C hina,
we could effectively block a competitor's entry, or significantly raise it s entry cost.GoldenCareer will also seek partnership with local career newspaper s and prominent offline career companies to quickly expand our customer base and to explore mutual benefits.
Integration of career information with career development service: Monster.c om doesn't provide a lot of career development assistance to its customers becau se career development services have been very sophisticated in the US.However, t here is still quite a large space to fill in this regard in China.By integrating career information with career service, GoldenCareer will be in a better compet itive position than Monster.com in China.
Dedicated, experienced local expertise: GoldenCareer's management team consi sts of people with both a superior US education and profound local professional experience.They deeply understand the market, the language, the trends, and are able to turn their knowledgesintossuccessful execution.Career development needs in China are different from those in the US by nature.Most industries haven't d eveloped to the same mature stage as they have in the US, and the difference wit h regard to social and cultural aspects of business is even wider.GoldenCareer believes it can best fulfill subscriber's career development requests with its superb ability to tailor contents to local needs.
Marketing and Promotion
Objective
Through an aggressive and effective marketing and promotion strategy, GoldenCare er will be able to quickly establish brand recognition among recruiters and targ eted subscribers.We will thus create a big registered recruiter and subscriber pool shortly after the rollout.
Specifically, GoldenCareer expects to achieve 15,000 registered recruiters, 100, 000 job postings and a subscriber base of 500,000 by March 2001, after 9 months of formal execution (Chart 7).
Chart 7-GoldenCareer performance target by March 2001,against its benchmarks
(略)
Strategy
Products/Services Positioning
A clear value proposition to both recruiters and subscribers will be the core co ncept entrenched in all the marketing initiatives.GoldenCareer positions its se rvices as follows in front of its targeted audience:
To Subscribers GoldenCareer provides a comprehensive“onestop shopping”fo r career development needs.Questions and requests about how to manage a successf ul career will be found at GoldenCareer.Besides, the services GoldenCareer prov ides are realtime, interactive, and tailored to each individual's specif ic concerns.And it's free!
To Recruiters GoldenCareer enables recruiters to get a ccess to a large, highquality employee candidate pool.These candidates are well educated, careerfo cused, responsive, and have a good knowledge of the recruiter's business and req uirements.Besides, GoldenCareer's subscribers respond much quicker than those f rom other channels.And, GoldenCareer charges are reasonable compared to its alte rnatives.
Market dominance
GoldenCareer plans to take an aggressive approach to quickly achieve dominant po sition in its targeted segment.Two reasons for a dominance strategy:
Scale is the key in this business The“Snowball”eff ect is apparent for care er service web sites.The more jobs posted and the higher their quality, the mor e subscribers GoldenCareer is able to attract.On the other hand, the more the s ubscribers, the more its attractiveness to recruiters.From the current ranking of U.S.careerrelated portals we can also see the same rule (Table 8).There wi ll be one, and only one, dominant player in the market.Being unable to achieve that dominant position at the beginning means gaining far less upside in the fut ure.
China's online career sites are still in its infancy Almost all the current
strong local performers, such as 51job.com and campusall.com, launched their onl ine career sites less than a year ago.They are still experimenting their busine ss model and it's highly likely that another strong competitor can quickly stan d out and outperform them at this stage.Besides, many of the strong performers a re either restrained by capital or by qualified human resources for a quick nati onal
expansion.With a strong team, a clear focus, a good business model and suf ficient financial backing, we are confident to achieve dominance in our targeted segment within a year.
Table 8-U.S.Online Career Sites Revenue Share,January 2000(略)
Source: HBS case N9-800-304 (Monster.com)
Execution
There are a lot that we will do.The following are a list of major sales and pro motion initiatives GoldenCareer is going to carry out from the start.
To subscribers and college career offices
Seek partnerships with local universities and colleges GoldenCareer plans to become the exclusive career service provider for the top 100 Chinese universiti es by the end of the year 2000.Insgroupsto achieve this goal, we plan to progre ss along two levels of partnership detailed as below:
Entrylevel: At this level GoldenCareer will reach consensus with college car eer offices to supplement their student career development initiative.GoldenCare er will help them organize career development seminars, careercounseling meeti ngs, and career fairs.GoldenCareer will also assist in tying their contacts with nonSOE recruiters, or in transfering relevant job opportunities to them.
Besides, GoldenCareer will provide sponsorship in various formats to school care er service offices, i.e., computer equipment, books, and etc.
Alliancelevel: When GoldenCareer successfully gains trust from c ollege caree r offices, we will push the partnership to a higher level.At this level GoldenCa reer seeks to contract exclusive career services with the college.GoldenCareer will
build a protected domain for senior students at the college, with specific recruiters' information, placement opportunities and interview schedule tailore d to the college career office's requirements.Students with their password can get access to the college specific recruitment activities and schedules.Most Chi nese colleges lack the capability to build their own online career site.Therefo re, our services can bring great value to the college without additional expense s from their pocket. Hold seminars at colleges to introduce GoldenCareer An effective way to incr ease awareness is to present directly to targeted audience.GoldenCareer is goin g to take a promotional tour around China's major colleges shortly after its la unch.Besides presentations we will distribute gifts with GoldenCareer's brand n ame.Hopefully, after the tour, we can acquire a large number of subscribers from colleges.
Approach college alumni associations College alumni associations will be an effective channel for GoldenCareer to reach earlycareer graduates.We will do s o through mailing promotional materials to this target group.Insgroupsto make th e mailing more effective, we will include some prize that people can win only by surfing GoldenCareer's web sites and registering.
Sponsor nonSOE's employee athletic games or other activities Each year the re are collectively organized whitecollar athletic competitions (soccer, tenni s, badminton, etc) in Shanghai, Beijing and Guangzhou, which young professionals participate in.GoldenCareer will sponsor one or two of such widely received act ivities to enhance brand awareness in the target subscribers' group.
Online reward for firsttime registration Insgroupsto encourage registratio n, GoldenCareer will give material prizes for selected firsttime subscribers a nd to those who introduce GoldenCareer to their friends.These gifts include care errelated publications.
Partnering with“Internet bars”The Internet bar is a place that provides food and Internet connected computers to Internet users.Since the purchase of a computer is still a big expense for many households, the Internet bar satisfies those who are enthusiastic about the Internet but don't have the necessary techn ical capabilities
at home.Students are the major customer group.GoldenCareer wil l hold promotion activities in these bars.These bars provide with another effect ive channel to our target subscribers.
To recruiters
Call or visit targeted companies for job posting services Each regional office will employ a sales team keep contacts with regional em ployers.First, the national research team will generate a list of targets and pr ioritize it according to company size, performance, human resource policy and pa st recruitment records.Then, the salespeople will conduct telephone (like a call ing center), mail contacts, and, for big or important employers, facetoface visits to the companies' recruiting personnel.Once the relationship has be en built, the very sales person is responsible to document client's routin e recruitment schedule.The company's routine recruitment schedule will be kept in each regional office.On the other hand, the corresponding salesperson is required to make phone calls to companies at least once every month to retain r elations and understand temporary staffing needs.
To tailor the recruiter's Internet adoption rate, GoldenCareer develops se veral channels to handle recruiters' requests.Recruiters are welcomed to h and requests in online, but they can also use the telephone, mail, or fax to giv e GoldenCareer new job opportunities.
Free newspaper recruiting advertisement for earlybird recruiters At the fi rst year of operation, GoldenCareer will use the newspaper as a major means of a dvertisement.To best leverage GoldenCareer's advertisement budget, we will put major recruiter names and jobs on the newspaper, together with GoldenCareer's l ogo, for free.This is a good attraction for recruiters, because they can benefit both online and traditional media advertisement.Meanwhile, GoldenCareer can gr adually transfer those who still feel suspicious about online recruiting.
Partner with traditional headhunting firms or HR newspapers They have good e xisting relationships with recruiters and job seekers.Partnering with them will help GoldenCareer expand its recruiter and subscriber base even quicker withou t a large investment.On the other hand, GoldenCareer will provide access to a n ew channel
with huge potential.
Operation Strategy
Objective
Insgroupsto effectively conduct the above marketing plans and customer services, GoldenCareer operations have been designed with three key objectives in mind: Adequate resources for fast relationship and brand name establishment Fast and comprehensive web content creation
Deep local market understand and penetration
Organization and Job Descriptions
Therefore, GoldenCareer will build a heavyweight team in two levels: national le vel and regional level.
National team
There will be a national team supporting and supervising GoldenCareer's Ch ina rollout.The team consists of both senior management and core research function.A s to management, there will be a COO supervising office operations, marketing an d customer development, a CFO in charge of accounting, local office auditing and company financing, a CTO responsible for technology infrastructure design, runn ing and tech team supervision, a VP of Sales leading sales efforts, and a CEO re presenting the company to outside and overseeing the whole business.The founder will be the president of GoldenCareer working together with the CEO.Besides ma naging, the national management team is also responsible for college career deve lopment seminars and university relationship building.
The core research function is centralized to ensure the quality of online conten t and maximize utilization of precious research resources.The research team, co nsisting of 810 experienced career counselors, will be responsible for develop ing online industry/company information and career instructions.They are also th e
team providing interactive Q&A or counseling to subscribers.Insgroupsto assis t their work, GoldenCareer will provide a lofty budget for each researcher to pu rchase materials and to conduct interviews ( per researcher per month).Mea nwhile, many parttime students will also be invited to assist in the beginning several months. Regional offices
There will be four regional offices opening by the end of 2000: Shanghai, Beijin g, Guangzhou and Shenzhen.They are four most prosperous cities in China, leadin g by a large margin against other Chinese cities.Business activities, especiall y in the nonSOE sector, are the most dynamic in these cities.
The functions of regional offices are as follows:
Build up relationships with local companies for job posting
Arrange local promotion and marketing activities for the GoldenCareer brand Help establish connections with local earlycareer college graduates Each office will employ a 15to20person sales team working on establishment o f contact for regional companies, recruiting users and
promotion.There will also be 5 administration staff members working in each office for daily office opera tional tasks, such as documentation or typing.There will be 1 senior admin.sta ff coordinating promotion and marketing efforts with regard to the local subscri bers pool.(S)he will coordinate college contacts in this region, arrange partt ime students to distribute promotion materials to young professionals, and propo se regional promotion efforts.
Each regional office will be equipped with an individual server system to give t he fastest log on speed to subscribers.Consequently, technology team will be lo calized to do the daily maintenance.There is a technology head in each office w ho will also involve in network design and function expansion.They will work cl osely with CFO to make sure that the infrastructure base is in good condition.
The regional office will be supervised by a director based locally.The director should have good knowledge of different industries and will have prior operatio nal
management experience.A local connection with educational institutions is a plus.As a regional supervisor and the key contact with national management tea m, the director's role is critically important.His job is defined as follo ws:
Propose and verify the targeted companies list with national research team, a nd organize, supervise and support regional sales team
Design, propose and organize local marketing efforts.
Motivate and evaluate local employees, including sales, admin and technology staff.
Participate in college relationship building
Organize local user recruiting and promotion
Firstround Financing Stage Rollout Plan
We have mapped out a threestep growth plan for GoldenCareer in its proposed 10month firstround financing stage.
Firststep: Preparation, June 2000July 2000
During the preparation step GoldenCareer's major objective is to build up a soli d foundation and operational experience for the national rollout.Consequently, t he following tasks should be completed:
Open GoldenCareer's China headquarters: Shanghai office
Start recruiting for the regional offices' directors, sales, admin and techno logy staff
Research!
Seek partnership relations with firsttier national universities/colleges, a nd sign 50100 exclusive career service provider contracts with national univer sities.
Seek alliance with Shanghai's job related publications and institutions Launch a high profile beta site and conduct surveys for feedbacks
Start calling and visiting nonSOE companies in Greater Shanghai region and start accepting job posting and company advertising orders
Rebate all charge on job posting back to recruiters.At this step expanding re cruiters' base is the key
After this step GoldenCareer will accumulate operational experience, work on tea m harmony, and adjust execution strategies to make the next step rollout smoothe r. Second step: Pilot operation, August 2000December 2000
During the pilot operation step, GoldenCareer's major objective is to quickly e xpand both the subscriber and recruiterdatabase.Consequently, the following tas ks should be completed:Open GoldenCareer's other three offices: Beijing, Guangzhou and Shenzhen offi ces
Coping with the coming recruiting season, aggressively promote GoldenCareer's brand name to college students through career development seminars and joint ac tivities with college career offices.Also, targeted efforts to earlycareer gra duates, such as promotional material distribution and alumni association contact , should also be carried out at this step.
Aggressively contact and build relationships with companies in the region.The sales team will be calling and visiting companies' recruiting departments for p otential cooperation.Again, company job postings are fully rebated to encourage trials.
Focus research work on company information, career guidance and interactive c ounseling
Formalize the online web site and provide quick stable system for email delivery and web page viewing
At the end of this phase, we expect GoldenCareer to reach 13,000 related compani es, online 70,000 job postings, and 400,000 subscribers.
Third step: fullscale rollout, January 2001March 2001, and going on further Fullscale rollout for the four offices will start in January 2001.Up until now , GoldenCareer has gathered a significant subscriber base, and recruiters also r ealize the value that GoldenCareer provides to them.So, starting from this step , GoldenCareer's objective is to achieve profitability quickly and to pene trate secondtier cities,swheresthe job market is also expanding dramatically.
Consequently, the following tasks should be completed in the last three months o f the proposed firstround financing period:
Restructure the management and regional team.Lay off underperforming sales, admin, research and management staff and replace them with external recruits or outperforming parttime students.
Continue to aggressively attract the target subscribersgroupsand potential re cruiters.We must also reinforce existing relationships with current subscribers and recruiters by mailing promotional materials, hosting offline seminars or oth er activities, and office visits.
Start charging recruiters for job postings.
At the end of this step, we expect GoldenCareer to reach 15,000 related companie s, online 100,000 job postings, and 500,000 subscribers.
Financial Summary
Revenue Model
One of the most attractive features of GoldenCareer's business is that it will turn to a good revenue and profits in a short period of time.The company's reven ue, during routine operations, will come from three sources:
Job posting charge This is the major source of GoldenCareer's revenue consid
ering the thousands of job postings we are going to have.Compared to traditional recruitment advertisement channels and its current online competitors' price, G oldenCareer decides to be a little aggressive in job posting fee (Table 9), in o rder to attract more recruiters coming to GoldenCareer.The price is determined a t per job listing per quarter, which is significantly lower than most of the competitors Advertisement banner charge On the front page of GoldenCareer's web site, th e right 1/3 space will be reserved for company's advertisement banners.By clicki ng the banner, subscribers will be automatically linked to the company's introdu ction, current job posting, and the company's web provides a simi lar banner link to respective company web site at a price of a month.Compar atively, GoldenCareer will charge per banner per month.
Advertisement listing charge Also on the front page below banners, there wil l be area for company listings.If a company would like to be listed at the front page so that subscribers can easily click through, they should pay a month for it.This is also comparable to international standard.
Companiesshavingseither banner or listing advertisements will also be eligible t o incorporating a small advertising banner in emails to subscribers periodical ly.
Table 9-Job Posting Charge Comparison(略)
Source: newspapers,online survey,HBS case
Revenue will not be GoldenCareer's first priority in its preparation and pilot operation stages (from June to December 2000).Therefore, at those stages GoldenC areer will rebate 100% the recruiter's job posting fees back to them to build u p relationships and attract more trial.Once the is fully charged, it is also subject to future increases if GoldenCareer concludes that the price sensitivit y to recruiters is small.The revenue from job postings is GoldenCareer's main so urce of revenue.A smart pricing strategy is critically important.
Expected operating results
GoldenCareer expects to reach the breakeven point in 2002 (at more detailed quar terly forecast, the breakeven time is the fourth quarter of 2001, 5 quarters aft er initial rollout).We can see that the upside potential for GoldenCareer's bu siness is huge.In 2005, with its annual job posting volume reaching 3.5 million, the company will be able to generate 31 million net profits (Table 10)
Table 10-Annual Income Statement Forecast(略)
Expected Funding requirements
Insgroupsto achieve the expected upside results illustrated above,GoldenCareer plans to obtain ,000,000 in total of external funding by Q3 2000.The capital will be used to establish four regional offices and launch planned marketing and
operational activities (Table 11).From the forecast we can observe that there will be a big demand for funding at the first year of GoldenCareer's business.F rom more detailed quarterly forecast,we expect cash requirement will reach its peak in Q2 2001,at about 3 million.However,the company will turn to positi ve operation cash flow in Q3 2001 and in Q2 2003 GoldenCareer will be able to pa y off all the initial investments pouredsintosthe company.
Table 11-Net and Accumulative Cash Flow Forecast(略)
College graduatecandidates this year 50% 70% 77% 85% 93% 102%
2.GoldenCareer is expected to achieve dominance in online recruitment and career service market in 2001.Specifically,for all the online recruitment posti ng and advertisement GoldenCareer's share will grow as shown in Table 12.
Table 12-GoldenCareer Market Share Growth(略)
3.GoldenCareer will establish four new offices at the beginning.After the firsttiercity offices operates healthily,the company will expand to secondtier cities.Office number is
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