Business Commons^™

An Phuoc (A): Can Its Business Be Rescued From The Asian Financial Crisis?, Mai T T Thai, Huong T. Thai

Mai T T Thai

Nguyen Thi Dien, the founder and owner of An Phuoc, was staring at several letters from An Phuoc’s major customers on a summer day in 1997. Although the weather was suffocatingly hot and humid, she had a chill running down her spine. One after another, the letters informed her that An Phuoc’s major orders had been cancelled and that its partners were closing their business because of the Asian financial crisis. It was clear that An Phuoc would have to close down its factories and make massive layoffs unless it could find a new market. What would it be?