What external forces would affect the growth of food and beverage industry in Malaysia and ASEAN region in future?
There are many external forces would affect the growth of food and beverage industry in Malaysia and ASEAN region in the future which are economic forces, social, culture, demographic and environmental forces, political, legal and governmental forces, and competitive forces.
The first external forces is economic forces, economic force affect every industry in Malaysia. That why is it also affect the growth of food and beverage industry in Malaysia and ASEAN region in future. Economic forces are the factors that help to determine the competitiveness of the environment in which the firm operates. F&N will find that Malaysia and ASEAN are very competitive and the food and beverage industry have a very big opportunity to develop. Some of the factors that include in the economic forces is interest rate, tax rate , and value of ringgit in world market.
The second external force is demographic. Malaysia has almost 30 million peoples and for ASEAN, the population is 633 million peoples. This is very large population for F&N to develop their business and if they manage to develop, they will definitely affect the growth of food and beverage industry.
Last but not least is Political, government and legal. Not only that, the changes made from government will create the opportunities and threats. Same goes to F&N, they will be affected by this force and this force need to be consider carefully to make sure better growth. Besides that, for the industries its depend heavily on government subsidies and contracts. The change in law and tax will affect firm significantly and for food and beverage industry.
Identify and explain any three (3) strategies adopted by F&N to realize its vision to become the regional food and beverage player.
First strategy that adopted by F&N is make an investment to purchase