COVER PAGE 1
CONTENT PAGE 2 1.EXECUTIVE SUMMARY4
3.CURRENT COMPANY SITUATION6
3.1.Past Performance Assessment6
4.7.Conclusion of PESTLE Analysis10
5.1.SWOT Anal ysis on Eu Yan Sang10
5.2.Conclusion of SWOT Analysis11
6.1.Key Success Factors13
6.2.Michael Porter’s Generic and 5 Forces Analysis15
6.3.Michael Porter’s 5 Forces Analysis15
6.4.Implications of Assessment (Issues)17
7.1.Short-Term (1-2 years)18
7.2.Long-Term (3 or more years)18
8.Development of different Strategies19
9.Selection of Alternative22
The aim of this report is to propose a viable strategic business plan that will help strengthen and build on the business of a well established company. For our example, we have selected a leading brand in the area of Traditional Chinese Medicine (TCM), Eu Yan Sang (EYS). Our aim is to propose a strategy that will build on the current position occupied by the company.
This report will begin overview of the company where the traditional strengths of the company will be highlighted, applying SWOT analysis which will be used to evaluate the organization’s external competitive position as well as its internal capabilities. Our group will apply a PESTLE analysis to the external environment to forecast developments and anticipated responses. With the aid of these analyses, it created the basis for establishing short and long term strategies and goals.
These analyses will be integrated into a larger strategic plan that combines the market leading positions with critical success factors that are aligned towards ensuring that the business makes the right decisions for robust growth. The plan will also include a growth matrix will help decide whether EYS should attempt to market new or existing products in new or existing markets.
In conclusion, the report will provide recommendations that EYS should consider maintaining its competitiveness and achieving sustainable growth in the industry followed by a conclusion of the overall findings.
Eu Yan Sang (EYS) is a leading healthcare company with a core focus in Traditional Chinese Medicine (TCM) and integrative healthcare in Asia. It is founded by Eu Kong in 1879 with the mission of “Caring for Mankind”. In 1890, Eu Tong Sen, eldest son of Eu Kong, inherited the family business and established his business in Malaysia and Singapore with leading figure in this business (Wong, 2012).
It has a distribution network of more than 303 retail outlets in Macau, Hong Kong, China, Malaysia, and Singapore. Besides retail outlets, EYS products are also available in convenience stores, medical halls, hospitals, pharmacies and supermarkets. To cater to the modern lifestyle needs of the public, their product ranges from health foods, dietary supplements, packaged tonic soups, beverages and personal care items. The group operates 24 TCM clinics in Malaysia and Singapore and two integrative medical centres in Hong Kong. Since 2000, the holding company, Eu Yan Sang International Limited, has been listed on the main board of the Singapore Exchange (Ng, 2012).
The aim of this report is to study the current situations in the firm in the competitive market and increase the strategic effectiveness of the firm. In the course of the analysis, it is hoped that insights will emerge...