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Faith Wins the Market
Author: Date:2007/11/22 14:24:30 Read:3873

In 2003, more than 300 enterprises in Jiangsu province participated in the 5th competition for the credit of being contract-honoring and promise-keeping. A scientific evaluation method was applied by Jiangsu Association of Credit Management, evaluating the enterprise’s credit rating with 63 different indexes. It turned out that the Yangtze River Pharmaceutical Group (hereinafter referred to as YRPG) got the champion with a comprehensive score of 97.66, and wins the government’s high praise. In May 2004, it was again rewarded by the State Administration for Industry and Commerce with the honor of “contract-honoring and faith-keeping enterprises”.

YRPG has invested over 30 million Yuan in the project of “Health Care in Western China” in three years on succession, presenting healthcare skills, drugs, and medicine knowledge across 11 provinces in western China. In April 2006, in echoing the Communist Party’s proposal of “Building a New Socialist Countryside”, YRPG carries out a project named “Health Education for All”. It sends the “health express” to the countryside and community, distributing drugs, sending healthcare knowledge to the local people, and helping the local doctors, drugstore assistants, and patients with continuing medical education as well as self-medication.

YRPG regards the principle of “Credit First, Faith Foremost” as its business philosophy, while views the tenet of “Be an Honest Man, Do Honest Work” as its employees’ code of conduct. Therefore, the enterprise has been regarding the moral quality as the first important factor in graduate recruit, cadre selection,and salesman employment.

The sales department of the head company sticks firmly to the guidance of “Management According to Law, Sale Promotion Based on Faith”, strengthening on the staff’s ideological and political education as well as professional morality instruction. It also issued “Ten Bans on Sales”, preventing the salesman from taking kickback. Every month, the salesmen get together as required by 35 provincial branches of group’s nine sales companies to study the policies and regulations issued by some relative departments, and the company also invites some experts to give staff lectures on law. The Surveillance Department and Supervision Team send some specialist to the front market where they will be responsible for supervising and investigating sales performance of the salesmen, contract of sale, and sales prices. The sales office builds in particular a team of price maker and hires full time or part time price information collector to make reasonable prices according to the law and relative policies issued by the government and the production cost. These measures aim to protect the consumer’s benefits and sell large volumes of goods with a profit that people can accept.

During its 35 years since its establishment, YRPG has won the customer’s great praise for its high sense of responsibility, and the company has also won a high credit rating of AAA awarded by banks and tax departments as well as many honors from relevant departments of the Chinese government.