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In 2023, two domestic enterprises faced serious difficulties, and finally, in a series of challenges, exhausted huge amounts of money and went bankrupt. The two companies are Gome Electrical Appliances and WM Motor.
First of all, Gome Electrical Appliances used to be an electrical appliance retail giant, starting from Huang Guangyu founded its first store in 1987, Gome Electrical Appliances has gradually developed into an electrical appliance retail chain enterprise with strong business capabilities. As of 2021, GOME has 3,895 stores in more than 500 cities across the country. However, since Huang Guangyu was imprisoned for illegal business operations and insider trading, the management of Gome was handed over to his wife. However, Huang Guangyu's wife did not have a long-term vision and did not adapt to the changes of the times in time. In the period of rapid development of the Internet, many brands have begun to actively develop online business, but Gome Electric has not transformed in time, resulting in a gradual decline in brand reputation. Employees even complained about the mismanagement of Gome Appliances on the app. Coupled with the impact of the epidemic, Gome declared bankruptcy in November 2022.
Secondly, WM Motor used to be a high-profile new energy vehicle brand. After the rise of new energy vehicles, many entrepreneurs have seen opportunities to make money, among which Shen Hui founded WM Motor and formulated a "three-step" development strategy, with the goal of becoming a popularizer of smart electric vehicles, a data-driven smart hardware company, and a new ecological service provider for smart travel. However, WM Motor has encountered a series of problems in the development process. First of all, it is shocking that a quarter of the 10 billion yuan raised by WM Motor was used to reward management. Second, WM Motor is focusing on opening new stores rather than strengthening sales. This led to dismal sales, with just over 100 vehicles delivered at the end of 2022. Compared with other new energy vehicle brands, WM Motor's performance is even worse, and it has been in the red for three consecutive years. By last year, WM Motor was unable to even pay its employees' salaries and stopped paying them for four months. In October 2023, WM Motor had to file for bankruptcy in the hope of attracting other investors. However, even if it attracts capital, WM Motor needs to change the way it does business in the past to make a difference. An enterprise can only go further by adapting to the development of the times, and resting on its laurels will only bring a tragic outcome, even if it is the leader of the industry.
Times are constantly advancing, and each of us should keep pace with the times. As the saying goes, "live to be old, learn to be old", only by continuous learning and progress can we be invincible in the fierce competition. From the stories of GOME and WM Motor, we can not only see the importance of the company, but also the importance of the individual's ability to respond to the changes of the times. Both enterprises and individuals need to maintain keen insight and positive action, adjust business strategies and learn new knowledge and skills in a timely manner to cope with the changing social environment. Only then will we be able to succeed in 2023 and beyond.
In today's era full of opportunities and challenges, everyone should keep their eyes open, be brave in innovation, and keep pace with the times. Only by constantly breaking through ourselves and not being afraid of difficulties can we stand out in this competitive world and realize our values and dreams. So, let's work together to make progress and welcome the arrival of 2023!
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