SO Strategy
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Penetrate market with better quality of palm oil
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Due to the IOI Corporation is one of the efficient palm oil producers, it should continuously expand market with good quality of palm oil. At the present, IOI Corporation is a strong advocate of development of agro-science and technology to improve crop and oil yields to meet increasing global demands but it not enough to compete to other huge plantation company. IOI Corporation should work more harder in the quality of palm oil.
This effect of better quality of palm oil, IOI Corporation can penetrate more wide market for example international market with the good quality in plantation. Especially land management, palm oil is very particular resources: land resources. Land resources is limited and expensive resources. IOI Corporation should strategies to maximize outputs from their plantations and factories while minimizing the inputs required using an efficient and effective plantation management program. IOI also should efficient use of land translates into lower fertilizer, pesticide and energy usage as well as benefits for the environment. Therefore, IOI Corporation can maximum the production palm oil with limited resources.
Furthermore, this strategy would be effective as IOI Corporation can offer more palm oil. Sometimes customer want order huge amount of palm oil and good quality, but IOI Corporation cannot make it. So, with this strategy penetrate market with better quality of palm oil. IOI Corporation can produce more and good quality of palm oil, customer will choose the IOI Corporation as a first choice .
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WO Strategy
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Recruitment of foreign labour
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In the long-term lack of human resources, IOI corporation should recruit more foreign labour. With de foreign labour which mean with different nationalities, different cultural backgrounds of employees and help IOI corporation can easily go truly international market, improve its internal management system
With the addition of foreign workers, due to changes in environment, language level internal staff will get improved to some extent. Different cultural backgrounds but also so that employees with a better understanding of the country's expatriate market environment to facilitate the development of foreign markets. Employment of foreign employees can also make the experience accumulated in the expatriate business management, it will help IOI Corporation run smoothly in the process joint venture with other companies and penetrate international market.
With foreign employees, IOI Corporation can make the local employees have foreign friends, it is conducive to travel abroad and engage in business and other aspects of a lot of convenience business for local employees, help to enhance the cohesion of the IOI Corporation local employees. Through contact with foreign employees, to enable IOI Corporation to have more international perspective to bring new and diverse ideas and cultures. IOI Corporation have foreign employees, but also to domestic firms have better external image.
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ST Strategy
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Joint venture with other companies
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In my opinion, IOI Corporation should joint venture with other companies with the high cash pile advantage. With this strategy, IOI Corporation can get a lot of benefits. It include access to new markets and distribution networks, increased capacity, sharing of risks and costs with a partner and access to greater resources, including specialised staff, technology and finance.
In access to new market, IOI joint venture with other companies for example foreign companies. IOI Corporation can sell the product in the new market which is foreign companies country. Same with capacity, IOI Corporation can increase the volume of sale of palm oil. For the sharing the risk, it is a way to minimize the risk of expanding IOI company is to pool resources with r competitor and create a joint venture. It can bring IOI Corporation a greater return for the investment, achieve goals more quickly and allow to take on larger projects. In resources, IOI Corporation can access to improved resources like experienced technicians, experienced staff and financial.
This strategy is can considered as a market penetration strategy and is part of the corporate strategy. When two companies joint venture, they have the same objective to be achieved It will reduce and spread the risk of failure in joint venture when IOI Corporation try to expand the current international market and enter new foreign market.
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WT Strategy
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Reduce the number of the high emission project
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In plantation industry, it requires the company to invest large amounts of capital in order to carry out the plantation activities especially land. Land is a limited and expensive resources. It involve mature hectare (tonne) It show cost IOI Corporation spend huge amount on land management. So IOI Corporation should reduce the high fund involvement project. It can help IOI Corporation reduce the risk.
However the company has to cease the project because of certain factors such as lack of subsequent capital the inflation of land and economic crisis it will cause the company incurs a huge amount of loss and it may lead to bankruptcy.
IOI Corporation reduce the high fund involvement project which mean IOI Corporation got extra fund, with the extra fund IOI Corporation can joint venture with other companies. Joint venture with other companies can share the risk and financial compare to implement high fund and high risk project. IOI Corporation should more concern the joint venture.