
Aztech was incorporated in 1986 in Singapore and it is listed in the Singapore Stocks Exchange. Initially, they had a manufacturing plant in Singapore. However, the cost of land and labour had increased due to the shortage of resources. Hence, the factory had moved it's plant to China. They started off manufacturing sound card 10 years ago and was one of Creative's main competitor. However, they chose to move to other product line such as the ADSL modems that are distributed by Singtel. Aztech manufactured their products and China and export their products to Singapore, Germany, USA, Hong Kong and Malaysia.
After the visit to the factory, I felt that Singaporean businessmen had a lot to learn from the founder of Aztech. The founder of the company took courage to invest in China when the market opened despite of all the challenges that are set before them. eg: custom duties and tax. He even battled through the Asian financial crisis in 1997 and continue to persevere and protected their own wealth.
From the case study at Aztech, I had learn from the CEO, Mr Mun, that workers are the most important people in your organisation. They are the ones who produce the product and market the products for you. Hence, it is very important to place worker's welfare as the company's top priority. They give many attractive benefits to their staff. For eg, a library, lift-landing on every floor of the dormitory, internet bar, retail mini mart and sports facilities. Mr Mun mentioned that the biggest challenge that they are facing now is the difficulty of retaining talents. As China begin to industrialize, there are many working opportunities across the nation. Thus, workers will not stay for long if they are not satisfied with the company. In order to over come this challenge and stay competitive in the industry, Aztech have to come up with attractive compensation benefits that will provide their workers with both intrinsic and extrinsic benefits. In this way, there will be a higher chance of retaining talents so that they will work towards the organisational goals.
This trip gave me the insight to the Human Resource compensation policy of the company which benefited me a lot as I am currently majoring in Human Resource Management in year 3. :)
After the visit to the factory, I felt that Singaporean businessmen had a lot to learn from the founder of Aztech. The founder of the company took courage to invest in China when the market opened despite of all the challenges that are set before them. eg: custom duties and tax. He even battled through the Asian financial crisis in 1997 and continue to persevere and protected their own wealth.
From the case study at Aztech, I had learn from the CEO, Mr Mun, that workers are the most important people in your organisation. They are the ones who produce the product and market the products for you. Hence, it is very important to place worker's welfare as the company's top priority. They give many attractive benefits to their staff. For eg, a library, lift-landing on every floor of the dormitory, internet bar, retail mini mart and sports facilities. Mr Mun mentioned that the biggest challenge that they are facing now is the difficulty of retaining talents. As China begin to industrialize, there are many working opportunities across the nation. Thus, workers will not stay for long if they are not satisfied with the company. In order to over come this challenge and stay competitive in the industry, Aztech have to come up with attractive compensation benefits that will provide their workers with both intrinsic and extrinsic benefits. In this way, there will be a higher chance of retaining talents so that they will work towards the organisational goals.
This trip gave me the insight to the Human Resource compensation policy of the company which benefited me a lot as I am currently majoring in Human Resource Management in year 3. :)




