SWOT Analysis for Palm Oil Business
Business - One type of business that is profitable and offers considerable returns is the palm oil business. This is of course very interesting for many entrepreneurs to be involved in this palm oil sector.
For those of you who are currently interested in getting into the business world, you need to know anything about strengths, weaknesses, and other matters related to this business through SWOT analysis. In this article, we will briefly review the palm oil business word analysis that you need to know.
How is Palm Oil SWOT Analysis?
It should be underlined that a SWOT Analysis is needed with the aim that you can optimally develop the business that you are doing. SWOT analysis can also be applied in a palm oil business.
Later you will need to analyze the internal environment which includes human resources, finance, marketing, production, development, and research. The internal analysis was carried out to identify the weaknesses and strengths of the palm oil business.
As for the external factor analysis itself, it is carried out to analyze the economy, politics, socio-culture, technology, substitute products, ecology, consumers, suppliers, new competitors, and so on.
By analyzing these external factors, you will be able to find out the threats and opportunities that exist within the industry. So that way you as a businessman can make the right decision.
The strategic factors from the external and internal scope will be identified in the form of threats, opportunities, strengths, and weaknesses.
Applying the current conditions is needed so that it is easy to develop the company and take the necessary alternative strategies. After the alternative strategy is known.
Then a decision was taken to determine which strategy was the most appropriate and became the main priority in developing the palm oil company. Based on internal conditions, in general, the palm oil business can be identified in terms of several weaknesses and strengths.
One example of the strongest factors for this oil palm seed is for example the good relationship between workers and employees, the quality of CPO and kernel yields that are by the standards of the Ministry of Agriculture, the construction of factories carried out to increase productivity, additional areas for oil palm plantations, the welfare of right employees - really noticed, the very strategic location of the factory, the quality of human resources is increasing from year to year and many others.
As for the problem of the weakness of the company that can be analyzed, for example, the availability of raw materials. So that the factory does not work productively and optimally, the processing plant is less efficient and effective, the activities of utilizing industrial waste products are deemed less than optimal, the lack of communication between the surrounding community, the lack of discipline of employees and workers and other things.
Opportunities that can be analyzed for the palm oil business include declining export products, environmentally-friendly palm oil, new cultivation techniques capable of increasing productivity, the strengthening of the rupiah exchange rate against the US dollar, palm oil products which tend to be better than those of the palm oil industry. with its substitutions and many other things.
As for the threats, namely interference from the government regarding prices, restrictions on product export activities, security that occurs in the country and is still not stable, competition in the industry is much tighter, competition in obtaining raw materials, campaigns carried out for anti-palm oil, etc.
That's what can be explained about it, and I hope this article is useful and useful.