Targets are easy to seed, but making them bear fruit is often much harder.
Last week, China's largest fruit retailer, Shenzhen Pagoda Industrial (Group) Corp. Ltd. (2411.HK), planted such seeds for aggressive growth, releasing a plan it hopes will transform it into a top global agricultural and technology-based company over the next decade. The plan includes an expansion to more than 10,000 stores over that time, and total gross merchandise volume (GMV) of more than 100 billion yuan ($14 billion) through its network of fruit stores.
Chairman Yu Huiyong unveiled the ambitious plan at a recent conference, saying it would attain the growth gradually through a series of smaller three-year plans. As veteran of China’s planned economy, many Chinese companies – both public and private – often create such multi-year development plans that mimic Beijing’s bigger national Five-Year Plans.