write two paragraphs that summarizes this case study.

Page 2 9B14M079 Once the contract was signed, he wanted to open the doors sooner rather than later, otherwise, Ho would be paying rent every day without revenue coming in. However, the preparation was beyond his restaurant to an accessory shop. One day, when he was trying to search for a design company on the imagination. The first step was to find a shop-fitting designer. The place had to be changed from a takeout Internet, his cell phone rang. It was his friend Bin calling "Morning, buddy. How are you?" "Morning." "Do you have time to go mountain biking this weekend? We have not done it for years!" (When Bin said "years," he actually meant "weeks.") "Sorry, buddy, I'm planning to open a shop. There is a lot of work to do. I'm afraid I cannot make it this weekend." "Oh, a shop! Congratulations!" "Not yet. Actually, I'm looking for a designer for shop fitting." "How large is your shop? "It is only 15 square metres." "It is a piece of cake." Bin laughed. "Guess what? I will do it for you. And my designs will be free. A gift to your new shop." "Well, what can I say?" Ho knew that it could cost him RMB4,000 if he hired out the work. "You should say, "Thank you.* "All right, buddy, thank you." It normally took a designer less than one week to finish a design drawing. This was a very small shop, with an area of only 15 square metres, which made things even easier. But June to October was a high season for interior decoration, which made Bin very busy. Ten days passed and Ho was still expecting the blueprint. Another 10 days passed; there was not one fragment of a design coming in. As the service was for free, Ho regarded it as inappropriate to push Bin. When July 15th came, Bin sent a copy of a drawing to Ho. Finally, the construction began, which lasted for a month and cost RMB25,000. In the following days, Ho was very busy. He stocked goods from the wholesale centre, placed advertisements online and bought a cash register, which cost him RMB500. It seemed as if everything was ready. But Ho neglected some "trivial" details, which could affect the entire process - he did not know how to use the cash register, which he had thought would be very easy. He did research on the machine for several days and, finally, was able to get barcodes for goods to print out. September 16, 2013, was a beautiful day. After three months of preparation, the shop was open to consumers. Ho felt like he was starting his dream journey. The store was named Maple Tree Accessory Shop and sold shoulder bags, earrings, scarves, necklaces and stuffed animals. Along the commercial street, there were three or four accessory shops selling similar goods. But what made Maple Tree Accessory Shop special was that its products followed the national style, which was difficult to find in the other stores. Another advantage was that the quality of interior decoration was much higher than that of his competitors (see Exhibit 2). Consequently, for similar types of products, Maple Tree charged a slightly higher price, about 15 per cent over the average, which created a gross profit of 50 per cent. As it was a small shop, Ho decided to hire only one full-time salesperson, responsible for the shop's daily operation, with two days off every week. He still needed to hire some part-time employees for the weekend.' Ho paid a fixed salary of RMB2,000 per month to Flower Chan, the full-time employee, plus three per cent of sales revenue as commission. For the part-time employees, he hired two students from umharest lucky, and shop opened a flamand closed at pm Page 3 the university and paid the RMBIO per hour plus three per cent of sales revenue as com The The first was a big day and the sales volume wi RMBI.200. But the next day was not so mert. When He received the first month's Bill for water and electricity. he saw a larger ved neither was the day after. On the daily sales were about RMB600, which could not make expected- RMBISO Menew that it was time to have a look at the operational condition of the Shop One day. He did a routine check of the shop and saw the worried face of Chan "What happened? Anything wrong "asked Ho. nearby! See Visitors every day and most of them are university students. They like our style, but few of them "You know, our shop is kind of special and attractive from the outside. We do have a lot They are asking for a discount. They say they can get the same goods in other shops with lower price Noticing no answer from Ho, Chan continued. "Have you noticed the street stalls Exhibit 3. There are a lot of them and only several minutes away by walk. Their items are simile spend money in our shop." "Why?" to ours, but the price is 20 to 40 per cent lower. And they sell twice the number "We are not competing in the low-end market. "Ho did not agree with Chan. While the same feedback was made by the two part-time employees, they added some new information amount of money higher price levels, the shop could attract high-end consumers, which guaranteed a high gross profit rate weekdays, he had to sacrifice his weekend for the restocking of new goods. It took him one hour to drive from home to the wholesale centre and another hour to get back. Sorting and selecting goods was a time consuming task; it always took Ho three hours or more in the wholesale centre seeking goods and bargaining, which left him no time to have Kumhoch weith his family memberen, he weekdays after dinner with his family, he had to resh to his shop to check the daily salesNormally, he spent one hour per day in the shop, talking with Chan and planning how to raise revenue. After several months of operation. He felt recalling the past, when he did some part-time work with a software company and earned extra money of life. , RMB200 per hour. It was quite flexible and he could do it online. At the end of another exhausting day. Ho arrived at home. It was 10 p.m. His family was sleeping. He slipped into his son's room, watching his boy's sleeping face. He was only three years old and needed more time with his father. But Maple Tree was another baby, and needed care as well. "Is it worthwhile to operate this shop? Should I close it down?" Ho asked himself. But there was an inner voice telling him that there was always a way out. Streer stalls here are a kind of gray business, with goods spread out on the ground for sale. There is no fored booth for the stalls Articles for sale are displayed on the sidewalk and it is very easy for the stall owners to move from one place to another. The sfollowners do not pay any rent or fax At the same time, he worked as a full-time employee for the state-owned enterprise