Macro environment analysis of Berjaya air

Macro environment analysis of Berjaya air International business is a process or method in the economic system that describes all commercial transactions such as exchanging goods and services between two or more country. Mostly, the patterns and trends in international business include world trade and investment. International business is more likely to be choosing by Multinational enterprise (MNE). MNE believes that by doing international business, it provides them large market because they are now view world economy rather than their domestic market (Brakman Garretsen, 2008). They can now do export and import, foreign direct investment and also creates jobs and wealth opportunities to the nation that MNE penetrate in. Globalisation is powerful force impacting the economic, social and also political environment (Dunning, 1974). Declining in trade and investment barriers help the MNE to view the world and can base production in the optimal location for the market of activity, rapid growth in cross-border mergers and also acquisitions. The Berjaya Group starts when Tan Sri Dato Seri Vincent Tan Chee Yioun acquired a major controlling stake in the share capital of Berjaya Kawat Berhad from the founders, Broken Hill Proprietary Ltd, Australia and National Iron Steel Mills of Singapore. The company is official listing on the Kuala Lumpur Stock Exchange in year 1969. The acquisition of Tan Sri Vincent Tan toward Berjaya Group resulted in a great change in the aggressive growth of Berjaya in October 1988 (James, 2010). Berjaya has transformed into variable entity through joint-ventures, acquisitions and partnerships. Now with total employees of over 21000, the group are diversify and provide services such as financial services, consumer marketing and direct selling, vacation timeshare, hotels, resorts recreation development, property investment and development, airline, gaming and lottery management (Berjaya, 2010). 1.0 The macro environment analysis of Berjaya air Macro environment analysis can help a firm to establish a more proper and stable international business worldwide. This is because macro environment analysis provides more specific forces such as political, environment, socio-cultural and also technology that can help firm to adapt to the environment (Haughey, 2000), . This is because the environment are rapidly changing, the cultural in each nation are different and also their technology growth (Henry, 2008). Due to its diversification in many fields, it would be appropriate to analyse based on one group which I choose that is Berjaya air. Berjaya Air is practically practising the PEST analysis to meet demand of their local market. They believe that the forces in PEST analysis are fundamental for the growth in niche market in Malaysia and also Asian. Berjaya air was first started in Malaysia and they are using PEST analysis to excel in their domestic and also international markets (Malaysia SEO Company, 2009). 1.1 Political Malaysia practises Parliamentary Democracy with a constitutional monarch. With the economy and political stability, it is sure that many of the MNE want to do business in Malaysia. The key of attraction to investors to continue invest in Malaysia is all about political stability (Technip, 2010). Even though Malaysia contains of many races and practises different cultures, but still Malaysia remain peaceful. Furthermore, Malaysia government are attracting and encourage MNE to come invest and involve in their business transaction (The Star, 2010). Malaysia government are trying to make Malaysia as core a core business centred around the world. Hence, the government are allowing any foreign investor to invest in any field in the Malaysia business and they are also being given freedom in context of rule and press of law. Incentives are given for a firm to do their project and Malaysia government are more focus in social and employment legislation for the purpose to create peaceful countr y for any investor. For a firm to success in a market, there are believed that they have good political relationships with the government. This is because governments have a lot rules and regulations that a company needed to follow. For example, there were tax policy, environmental regulations, trade restrictions and tariffs and political stability. Therefore, Berjaya has always kept good relationships with the government. This is to ensure them their safety and stability development while conducting business. It also can attract local and also foreign investor to invest in the firm as they have good relationships between the firm and the government. By understanding and adapting to the political environment of a country, Berjaya are ready to tackle the domestic and international markets. The Berjaya also believe to have close connection with former prime minister, Tun Mahathir Mohammads family business (Aditjondro, 2005). 1.2 Economic Other than political factor, Berjaya also look into the economics of country. This was important to know the purchasing power of consumers so that the company can tackle and produce a product that will be bought by consumer. The group also concern about the interest, exchange and inflation rate of the country. This is because the economic growth can affect the rate and the company needs to sustain in the growth of the economy (Goodwin Nelson, 2008). Malaysia actually is a country that has lot resources such as rubber, palm oil and also natural resources such as petroleum and tin (Janes Information Group, 2009; Altius Directory, 2010). The growth of Malaysias economy is driven by export to the other countries such as Japan, China and also United State (US). The country began to move from a domestic producer to a multi sector economy. Over the last 16 years, the gross domestic product (GDP) in Malaysia has growth and reach over 6% per year. The unemployment rates also remain low at 4% and also low inflation even though recent global rise in crude oil prices (Trading Economics, 2010). This created a very good opportunities for Berjaya in expand their business in airline because more passengers will take flight on vacation as the economy are become more stable and change of monetary measures. 1.3 Social Furthermore, social factors were also important for a company. Berjaya needs to look in the different of cultural and demographic especially in Malaysia. This is because Malaysia contains of different races and cultural that needs the company to segmentation their product in it. Consumers are more towards health consciousness lately and they are more emphasis on safety living environment. By having good reputation for the Berjaya airline, passengers are feeling secured to take the flight. Berjaya air tickets are cheaper than Malaysia Airline System (MAS) and reasonable that make it is an attraction for passengers to choose their flight. According to MAS itself, not all can afford a higher flight ticket as passengers will try to find other alternative that are cheaper. Their customer services department also quite slow in providing detail to their customers (Vin, 2009). 1.4 Technology Last for the PEST forces is the technology. Technology can help the firm to save cost in the production making because it minimum the efficient production levels and also lower the barriers to entry (Kottler, 1998). This technology factor is very important to strengthen and enhance in Berjaya airlines system. When internet was first launched in 1990, JARING is become famous and rapidly being use by all Malaysian. After that, TMnet which is the second Malaysias Internet Second Provider (ISP) was licensed at in 1996. With faster surfing environment than JARING, more Malaysian are subscribe to Tmnet (Becker, 2002). After few years later, there were three new ISPs being incorporated in Malaysia that is Digi, Maxis Communication and Time Telecommunications Sdn. Bhd. (Yunus, 2000). Foremost, the introduction of E-commerce and E-business has made any business become easier. Business transaction can be done around the world such as booking ticket online. Furthermore, Berjaya airline are using SITA Gabriel Reservations System. This system is the worlds largest international providing airlines with vital passenger reservations and management information system. The functions of this system is to record all the passengers name, the flight schedule and also other features such as boarding pass printing and advance seat selection (Pilling, 2008). Hence, technology is really important for business nowadays. It helps the management of the firm to become more efficient and smooth. 2.0 The International Consideration There were many considerations to be made before going into international business. In the airlines field, each country has their national airlines that mostly owns and operates by local government. Other than that, private airlines are collateral to a great deal of government regulation for economic, political, and safety concerns. For example, governments in Singapore often interfere to terminate airline labor actions in order to protect their free flow of people, communications, and goods between different countries (Paul, 2010). Berjaya Air is doing foreign direct investment in other countries such as Singapore and Thailand. They had flight to fly to the Koh Samui, Thailand and also to Changi, Singapore airport for meets their customers wants and demands. The other consideration a firm has to stress is in the deregulation of the airline industry. Before deregulation was introduced, countries have their own policies to protect their domestic air carriers from any other foreign competitors. These own policies makes the air services are more restricted between each country and also troublesome. For example, there were requirement that need to be made for each airlines firm such as the route that they are taking, airfares and their operating method (Ioannides Debbage, 1998). In the year of 2008, Association of Southeast Asian Nations (ASEAN) have all being standardised as deregulation region. This allow airline from each members countries to fly across each other region without any problems. Under the ASEAN Multilateral Agreement on Air Services, each airline in the ASEAN countries is granted to enjoy free flow of flight to fly across other countries and the rights to make stops in other countries territory for non-traffic purposes such as emergency landing or fuelling (King Rodolfo, 2006). Malaysia begins to promote their tourism industry in the late 1980. Statistic show that around 5.5 million of travellers visited Malaysia in 1991. Even though Malaysia have faces many problems such as Gulf War, global slowdown and recession in their politic structure but still tourism contribute to approximately MYR5 billion in year 1991. Malaysia continuing to targets tourists from their neighbouring countries and also Middle East such as Saudi Arabia by providing range of tourism options (Locsin, 2010). This is because Malaysia is well known in its history and has many differences cultural to be explored. Tourism Malaysia reported that there were 119.5% increase in the number of visitors. Government will continue to support this industry as it is important for them to generate revenue of foreign exchange. Nevertheless, Berjaya Airline is trying to promote their package with low air flight tour of business as to increase their customer level (Anon, 2009). By target only the most famous places that tourists will visit, it help Berjaya airline to gain good brand image in no time for the tourism industry. Wherever tourists planning to go in any interesting places in Malaysia, they surely will choose Berjaya air because the airline are more fly toward any famous destinations in Malaysia and also other countries such as Koh Samui, Thailand and also Singapore, known as a shopping paradise. However, the liberalization of industry has led to an increase in flights and airlines operating on certain routes. Bilateral agreements are also affect the free entry and exist in the airlines systems. Bilateral are based on open skies agreement which give freedom to fly with full traffic in any capacity and routes. Because of freedom in entering and exist, more airline firms are interest to invest in any countries (Bowen Leinbach, 2010). The local airline faces more competition than last time. In the Berjaya case, their rivals who are MAS and Air Asia that already established airline services for an age. MAS and Air Asia also provide more services to strengthen customers loyalty toward their airlines and will benefit the firm because more customers are choosing their airlines to fly (Business Time, 2010). The main advantage in an attempt to optimize an airline firm profit is their pricing ticket. Over the year, the pricing of airline tickets has increase and become major problem that faced by any airlines firm and its troublesome. By having complications in scheduling flights and to sustain profitability, airlines are forced to make constant adjustments. Moreover, another financial issue is that of hedging of oil  and  fuel  purchases (Notaras, 2010). This is usually the second expenses in its relative cost to the company. But, with the increasing in fuel prices has brought the largest cost to an airline. As to overcome the issues faced by Berjaya airline, they are utilizing public relations to extend and supplement its advertising budget. By having special promotion, it can help Berjaya to boost up their customer and provide them with latest and famous aviation that their customers would like to visit. The airline is operating using new market by transcending the technological barrier with the latest technology in the airline business (Swissgabe, 2003). It helps Berjaya from face any other complications in systems break down that can affect the overall management in its firm. This can evaluate the overhead cost and time consuming because the systems is always being maintains and are up-to-date. Despite from all the factors that being discuss just now, Berjaya is ready to going into international business. They already established and targeted their neighboring countries in ASEAN region such as Thailand and also Singapore. By focusing more on the niche market, Berjaya airline can target and segmented their customer in the market. The steps of concentrate more on niche market bring Berjaya airline profit because they are targeting to specific, segment, and also satisfying their customers (Berjaya Air, 2010). It narrows down the scope and clarifies the focus of the marketing of the Berjaya. Berjaya airline is a small firm and by focus more in niche market, the firm can concentrate to develop strategies to meet their customers want and needs. These give Berjaya airline a competitive advantage toward any other airlines firm because all of the airlines firms in Malaysia have different targeting customers and wont overlapping with their each other that can affect the revenue retur n of their firm. 3.0 The Growth of Business For a business to continue success in the world, the firm needs to come out with new strategies that can help the growth of the business. The firm needs to do some self improvement because the world is become globalize and the wants and demand of customers are converging around the globe (BNET, 2008). Even thou the aim of a business is to gain profit but they also need to lesser their competitors in the market because too many rivalry bring less profit to their firm. By consider to Ansoffs Product Market Matrix, Berjaya airline can build good strategies that in the long run shall help create many opportunities to their firm. Based on Ansoffs Product Market Matrix, it helps marketer in any firms to see wider perspective to grow the business through existing products and markets (Berkshire, 2010). In this aspect, Berjaya airline can focus in promoting their low cost carriers (LCCs). This is because LCCS are different from any other traditional carriers as it has different business model; low operating costs and low fares. Low Cost Carriers business model are believe to growth in faster rate rather than other business model because they focus more in providing low airfares (Field, 2008). Operating cost has to be kept low as well in orders to keep flight ticket prices low. This can be done by using more fuel efficiency plane or aircraft. By moving forward, Berjaya Airlines introduce the ATR 72-500 aircraft and is well known for its reliability to be among the best environment friendly turboprop aircraft (NRI, 2010). Other than this, flying to uncongest or secondary airports such as in Pulau Redang, Pulau Tio man and also to Changi in Singapore allow the LCCs have quick turn-around, cut back on delay and save money. Berjaya Air also makes sure that their operating method is point-to-point flights to avoid the cost of providing services for connecting passengers. LCCs demand are increasing as the low prices of ticket that stimulate passenger to choose them. Additionally, the average airfares decrease. This is also known as Southwest Effect. For example, a study in Denver found out that passenger volumes increased by an average of 36.8% meanwhile the fares decreased by an average of 18.2% after the LCCs business model being introduced (IBM, 2010). In the term of new product development, Berjaya Airline tries to introduce new packages that suit for local and also international tourists such as Great Holiday Escapes. This package brings the passenger to popular destinations such as Koh Samui in Thailand, and also local places such as Pulau Redang and Pulau Tioman. Furthermore, Berjaya also set up company base operation in Kuala Lumpur which manage and utilizing the route advantage to designated travels destinations with easy access and smart location compared to MAS and Air Asia. Before Berjaya involve in airline business, they already well knew in property investment and development, hotels, resorts and recreation development and many other. However, Berjaya Group has diversified into airline which is newly for them and known as Berjaya Air. By taking steps further, it helps Berjaya Airline to become further develop in the domestic and also international flight. In the future, Berjaya Airline is planning to expand their territories through partnerships and also cooperation with other larger airline in ASEAN. The marketing researchers also try to identify and expanding new routes. By doing this, they have greater opportunities in exploiting the airlines markets. 4.0 New Venture It is believe that after a firm success in their current market, the firm will begin try to expand in more newly venture that they have never done before. By doing new venture, the market size actually are bigger because the firm have move to wider scope and target of their business. However, it is not easy for Berjaya Airline to sustain in the new venture as they are small firm compare to MAS and Air Asia. But, having competitive advantages in their business strategy, Berjaya can overcome this problem and without overlapping with other airline profit earnings (Porter, 1985). For my choice, Berjaya Airline can consider to doing foreign direct investment in the Cambodia country. Cambodia is a constitutional monarchy country and almost 96% population of their citizens are practiced Theravada Buddhism. Between, they have different minority races such as Cham, Muslims, Chinese and various tribes that stay in northwest of Cambodia. Mostly, the economics of Cambodia are towards the agriculture and some related sub-sectors. They are becoming major exporter in rice as in 2010 to 2011 year, their surplus of paddy is said to be around 7.3 million tons (AKP, 2010). In the late year of 1997, the tourism industry in Cambodia is rapidly growth despite of recovery in economic crisis. The arrivals of tourists in Cambodia from year 1997 are 219,000 to approximately 2 million people in the year 2007 (Asia Info, 2010). By understanding more on a country that Berjaya would like to penetrate in, it give them clear picture on what the policies in government laws and also the s tability in the local government economy. Based on Porters Five Forces Analysis, it show and help Berjaya Airline to create competitive advantages which contain all the important five forces that is threat of entrants, bargaining power of customers and suppliers and also threat of substitute and rivalry. 4.1 Threat of New Entrants First of all, one of the threats would be security of Berjaya networks. Advancement in the technology has created a lot of viruses and also hackers. Internet is very vulnerable and Berjaya need internet to doing their online transaction for booking ticket. However, this is not the major concern for Berjaya Airline as they are using latest technology that can reduce the risk from being spam by hackers or viruses. The main concern for Berjaya in establishes business in new country mean that they have to provide a huge sum of money for them to operate. By lacking of capital, Berjaya Airline maybe be need to acquire loans from bank so that they have possibilities to doing the business. As a member of Association of Southeast Asian Nations (ASEAN), Cambodia are become more developing as ASEAN help to create a more peaceful and stability region and also help in economic and social growth (Rodis, 2010). Chaos in a country can harm their economy growth as the investors are not willing to plunge their money in a vacillating country. Other than that, ASEAN Single Aviation Market (SAM) helps the tourism industry in Cambodia growth because more passengers are taking the air services. The passengers services will be removed and full liberalisation of air freight services will be introduce (Thomas, 2008). 4.2 Bargaining Power of Customers and Suppliers The bargaining power of consumers is high for the domestic airlines as there have a lot of choices for customers to be made. For example in the Cambodia domestic flight, it has around 10 domestic airlines that provide local flight such as Angkor Airways, Cambodia Airlines, President Airlines and other. The airlines is not fully own by the Cambodias government because the Vietnam Airlines Corporation also acquired 49% of the Cambodias Airlines. But, for the international routes or flight, there are less options for passenger to bargain and it make they have no other alternative and to take any flight services that are available in market. In the suppliers aspect, the price of airplanes continue high as there were few suppliers in the market (Floris Oswald, 2006). Most of airline supply business was dominated by Boeing and Airbus. In Porters generic strategies, Berjaya Airline business strategy is to target specific market with low prices, efficiency in operation and also provide popular destination for tourist such as Siem Reap in Cambodia. Statistics show that around 561,000 to 677,000 tourists enter Siem Reap province which is their international airport in the year 2004 to 2005. Siem Reap also has a large number of hotels and restaurants that make convenience for any tourists to try any local cuisines and also quite lot attractions (Angkor Visitor, 2010). The attractions were Angkor Wat, Angkor National Musem, Central Market and Cambodia Landmine Museum. The main attraction for the tourists is Angkor Wat. It is said to be the largest temple in the world and listed in the World Heritage as the most popular place to visit (UNESCO, 2009). Other than that, lower currencies in Cambodia also attract tourists to visit Cambodia over the year. With roughly 100 Cambodian Riel (KHR) is equal to 0.08 cents of Malaysia Ringgit (MYR) where KHR and MYR is monetary unit. By having a lot of competitive advantages such as famous place to be travel and low currency exchange, Berjaya Air new venture into the Cambodia Airline market create good opportunities for them in short and long term run. 4.3 Threat of Substitute Product and Rivalry Even thou Berjaya see a lot of advantages in doing business in Cambodia Airlines, but by going international also make the face many competition. Passenger has more options towards the local transportation such as train or other. But considering about the time consumptions that they need to bear with, consumers are willing to go for airline. Additionally, Berjaya need to deal competition with local airlines that provide same services. Many of the local competitors in multi countries are having affiliates or subsidiaries from the government. Local airline would have more and easy access to the information because they receive support and also have good relationships with the government. The information such as market demands, policies changes and economic slowdown can affect and slowdown the overall operation of Berjaya Airline. This is because airline industrys high capital requirements, protective regulatory structures, and scale advantages that cost of competition would eliminate f uture profit. Exist in rivalry for the airlines industry is also cant be avoided. Each airline company are providing the same services and operating to the same destinations. Furthermore, each of the firm is competing among themselves by promoting privileges membership, cutting airfares, and many other benefits just to grab customers loyalty towards their airlines. However, Berjaya Airline central objective is to achieve bigger niche advantages than their rivals by continuing searching areas such as Angkor Wat in Cambodia to cater great tourist destinations with additional tourisms services. For them, the aimed of differentiation and variety specific destination is a competitive priority and it helps Berjaya Airline to determine the market position. 5.0 Conclusion In conclusion, going international business is promising every firm with high return of profit. Not only going international, the domestic businesses also need good strategies planning to excel in both fields. By understand more on what approaches that are best suit to Berjaya take in internationalism will help them to show a positive growth in their firm. By adopting all the strategies needed by Berjaya Airline such as PEST, Ansoffs Product Market Matrix and also Porters Five Forces help the firm to realize the strength of a market. The firm can now use this competitive advantages to tackle the airlines industries not only domestic but also international as the strategies already provide them many steps to overcome problems faces by the firm and also steps to improve their airline services. (4234 words) 6.0 Referencing Aditjonro 200. Company Profiles [Online] Available at: http://www.forestsmonitor.org/en/reports/550066/550085#berjaya (Accessed on 4th November 2010) AKP, 2010. Cambodia to Become a Major Rice Exporter [Online] Available at: http://www.un.int/cambodia/Bulletin_Files/Aug10/Cambodia_to_Become.pdf (Accessed on 28th November 2010) Altius Directory 2010. Malaysia Economy 2010 [Online] Avalaible at: http://www.altiusdirectory.com/Business/malaysia-economy.php (Accessed on 14th November 2010) Angkor visitor, 2010. 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