Comparative Analysis of South Korea and Vietnam for Dairy Industry

This document provides a comparative analysis of the dairy industry in South Korea and Vietnam. It examines the political, economic, social, technological, legal, and environmental factors affecting the industry in each country. The analysis reveals that Vietnam offers more attractive opportunities for the dairy industry due to its stable political environment, lower trade tariffs, emerging market status, and availability of cheap labor. However, South Korea has a more advanced technological infrastructure and higher production capacity. The document also highlights the challenges faced by the industry in both countries, such as unstable political situations and environmental pollution.

Running head: STRATEGIC BUSINESS MANAGEMENT
STRATEGIC BUSINESS MANAGEMENT
Name of the student
Name of the university
Author note

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Table of Contents
Task1................................................................................................................................................2
Task 2...............................................................................................................................................7
Critical evaluation of the comparative data.................................................................................7
Political....................................................................................................................................8
Economic.................................................................................................................................9
Social.....................................................................................................................................11
Technological........................................................................................................................12
Environmental........................................................................................................................13
Legal......................................................................................................................................14
Recommendations for expanding in a market.......................................................................15
Task 3.............................................................................................................................................16
References......................................................................................................................................18

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Task1
Macro environment
factors
South Korea Vietnam
Political a) There is high military
influence in the politics
of South Korea
(Hoadley, 2017).
b) Centralisation of the
authority has resulted the
process of policy making
straight forward.
c) South Korea has a very
strong and significant
foreign relationships.
d) Dairy industry is one of
the most profitable
sectors in South Korea.
a) Socialist Republic of
Vietnam is one among the
five remaining single-
communist party states in
the world
b) The communist party of
Vietnam keeps the
political environment of
the country stable since
the occurrence of few
riots (Kerkvliet, 2018).
One of the most notable
was of the anti-China
protest
c) The human rights of
Vietnam deteriorates
notably and is one of the
most significant issue in
the nation.
d) Government of Vietnam
strictly controls and
censors the press.
e) Corruption and
Bureaucracy is remains at
the highest level. As per
the Corruption Perception
Index raking of the year
2014, the Vietnam ranked
119th in 175 nations
(Sircar& Lee, 2017).
Economical a) South Korea have a very
powerful export sector
and some really
successful economic
reforms. The current
GDP of South Korea per
capita as per the year
2017 was 29,750$
(Aspalter, 2017).
a) Vietnam’s GDP (nominal)
per capita as per the year
2017 was 2,342$. It falls
under the lower-middle
income group.
b) High potential dairy
market.
c) It is considered to be one
of the most dynamic

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b) High potential dairy
market.
c) There is low level of
imports in South Korea.
All the import tariffs,
restrictions and the duties
are highly regulated and
at the same time, the
import volume of the
country is comparatively
lower than the other
ones.
d) The inflation rate of
South Korea as per 2013
was 1.3% and that of the
interest in the year 2015
was 1.50% (Lee, 2016).
e) The rate of
unemployment in South
Korea in 2017 was
3.68%.
f) As per Langham and
Parry (2017), about 15%
of the total South
Koreans live below the
poverty line.
emerging nations in East
Asia.
d) Vietnam’s inflation rate as
per the year 2013 was
6.6% (Benjamin, Brandt
&McCaig, 2017).
Moreover, the rate of
exchange of the USD to
VND was 21565.
e) The interest rate of
Vietnam was 6.5% in
2015 (Nguyen, 2018).
f) In the year 2017, the rate
of unemployment in
Vietnam was 2.05%.
Hence, it is quite low.
g) About 9.8% of the total
population of Vietnam
still lives in excessive
poverty as of the data of
2013 (Phung et al., 2016).
Social a) The total production of
raw milk in South Korea
in the year 2016 was
KRW 2.2 trillion (Lee,
2016). This accounts for
3.6% of the entire GDP
of the agricultural sector.
b) Dairy processing
industry of South Korea
is considered to be the 3rd
largest food processing
industries in the region,
right after the liquor
industry and wheat
processing industry.
c) The average per capita
volume of milk
consumption has been
continued to increase to
76.4 kg as per the data of
a) Vietnam has ample of
labour force. As per the
year 2013, the total
number of people working
was 53,748 million.
b) Increase in demand for
fresh milk.
c) The percentage of the
malnourished children in
Vietnam is high.
d) The level of education in
Vietnam is moderate.
People know the benefit
of milk and parents are
concern about the health
of their children and buy
milk on a daily basis.
e) The consumption of milk
per capita in this nation is
quite low. It is 20litres per

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2016.
d) Butter and cheese market
has been grown and
developed remarkably
but the market of
flavoured milk has been
reduced.
e) The rate of population
growth in South Korea is
0.4% annually.
f) There is rapid
urbanisation in South
Korea. This has brought
in a massive shift of
population from the rural
areas to the urban ones.
person in a year.
However, it has been
projected to increase to
about 28litres per person
in a year.
f) Corruption, increase in
crime rates, frauds,
robbery and rapes have
resulted in decrease in
trust among the
Vietnamese.
g) The rate of population
growth in this country is
just 0.97% as per the year
2017 (Nguyen-Viet &
Imai, 2018). Its population
is equal to about 1.26% of
the population of the
entire world.
h) Only 33% of the total
population resides in the
urban areas. Majority
lives in rural sides and
they have very limited
technology related
facility.
i) The GDP per capita
increased every year from
700USD in the year 2005
to 1479USD in 2012
(Dang, 2016). The income
of the Vietnamese have
been increased with an
understanding of the
advantages of the milk.
This is making the
consumption of milk
demand higher.
Technological a) South Korea has the
highest rate of broadband
internet subscription in
the world.
b) The rate of mobile phone
penetration is also the
highest, i.e., of 68%
(Shin &Koh, 2017).
i) In the year 2012, there
were a total of 69, 80,353
number of laptops and
computers were there in
the Vietnamese
households. It was an
increase of 2.6% from the
year 2011.

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c) There are both large
domestic and
international players
present within the dairy
industry in South Korea.
d) In the year 2014, there
were a total of 22.1
million of active mobile
users who use internet in
South Korea. Also, in
2018, it reached to 28.1
million.
e) 73% of the total mobile
using population of
South Korea use internet
to make purchases.
f) The government of South
Korea have formulated
many favourable policies
for encouraging the
international companies
to locate their research in
the nation. It has
employed several
policies for attracting the
R&D centres of the
cutting edge corporations
like the Novartis, HP,
Microsoft, University of
Warwick, IBM and Intel.
g) In the year 200, the
South Korean
government have also
implemented “Free
Economic Zones Act” for
improving its business
environment.
h) The government have
also introduced the
milking robots in the
year 2006 for the
farmers.
j) The total number of
mobile users in the year
2013 in Vietnam was 12,
37,35,557 (Lai & Nguyen,
2017). It was about 138%
of the total population of
the country.
k) Vietnam has been ranked
18th in the whole world for
the total number of
internet users present in
the country.
l) 20% of the internet users
in Vietnam use online
shopping sites to make
purchases.
m) Information Technology
in this nation is
developing in rapid way
and is also actively
supported by the
Vietnamese government.
n) The government have
recently approved the
project- “Improvement of
computer usage and
public Internet access
ability in Vietnam”.
Legal a) The government of South
Korea offer several
regulatory incentives for
the attracting the
a) The legal environment of
Vietnam is very
complicated.
b) According to Grafton et

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transnational firms. They
include the cash grants
for investing in the high-
tech industries and
reductions or exemptions
of corporation, local, and
in the income taxes.
b) The government have
also introduced a new
milk pricing system
known as “Raw milk
price linkage system” in
the year 2013 (Chung et
al., 2016).
c) For decreasing the raw
milk production, South
Korean government is
also trying to implement
the quota system.
al. (2019), the legal
framework of Vietnam is
lacking consistency,
dependability and
transparency. Unstable
and unpredictable legal
environment in Vietnam is
of top priority for both the
domestic and international
investors in this country.
c) Government has
decreased the foreign
trade barriers for
attracting more
investments. It have laid
several tax policies for
supporting the milk
industry.
d) The government has
applied ceiling the market
price for baby milk under
six years old.
Environmental a) There has been a very
strong governmental
intervention for
protecting the
environment in South
Korea.
b) It has high levels of
emissions and is a great
concern for the South
Korean government.
c) About half of the total
problematic fine airborne
dust in South Korea
generally comes from the
coastal region of China.
d) The dairy farms create
significant environmental
pollution and it is of a
great concern for this
nation presently.
a) Vietnam has tropical
monsoon climate. It is a
challenge for the dairy
firms. Cows produce milk
the most in the range of 5
to 21°C temperature.
b) Hurricanes, storms and
the other natural disasters
could present a challenge
for the dairy farms in
Vietnam, especially in the
coastal region.
c) Pollutions created from
the dairy farm produce
several health related
problems.

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Country A (South Korea) Country B (Vietnam)
Political 5/20 20/20
Economic 15/24 20/24
Technological 25/42 39/42
Legal 10/24 24/24
Environmental 30/42 40/42
Total attractiveness score 85/152 = 56% attractiveness
Least attractive
143/152 =94% attractiveness
Most attractive
Task 2
Critical evaluation of the comparative data
Factors South Korea Vietnam
Political  Unstable political
situations
 Changes in the
legislation
 Stability in the political
environment
 Minimization of trade
tariffs
Economical  Lower rate of imports
 Maximization of import
tariffs and restrictions
 15% of the total South
Korean population is
below the poverty line
with unemployment
 Emerging nation in East
Asia
 Minimal trade tariffs and
restrictions
 Rate of unemployment
in Vietnamese market is
9.8%
Social  Total production of raw
milk in South Korea was
KRW 2.2 trillion
computed in the year
2016
 Enhanced competition in
the dairy industry
 Allocation of cheap
labour force
 Minimized competition
in the dairy market
 Lower production of
dairy products
Technological  Enhanced utilization of  Emergence of IT systems

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broadband and internet
penetration
 South Korean
government introduced
milking robots for
enhancing market
competencies
 Rigid regulations and
frameworks
 Increased dependency of
the nation on the
agricultural imports, like
milk, from the different
nations
Legal  Separate milk pricing
system which is
government regulated
 Lacks transparency in
the legislations
 Leniency of the trade
tariffs and taxations
Environmental  Rigid policies and
regulations are imposed
for environmental
protection and
controlling the high level
of emissions
 Tropical monsoon
climate, which
challenges the
production of milk
 Government has taken
steps to implement strict
quality standards
 Increased operational
cost
 natural disasters like
Hurricanes and storms
challenge milk
production
Political
The high military influence in South Korea might result to interrupted functioning of the
processes that are planned by the business. Unstable political situations are dependent on the
intervention of the military forces, which adversely affects the capabilities of business
organizations. The rigid regulations and the unstable business environment might affect the
operations of Cows and Co. On the other hand, it was found during the macro- environmental
analysis that the South Korean market includes the Dairy industry as one of the profitable
venture in the market. Therefore, the expansion in the South Korean market would result to a

9STRATEGIC BUSINESS MANAGEMENT
huge number of competitors. Maximum level of competitors in the market might affect the
expansion objectives of the concerned business in the South Korean markets. Thi Hong Nguyen,
Wood and Wrigley (2013) stated that the enhanced threat of competitors in the market might
affect the smooth functioning of the business, which would restrict the business expansion. On
the other hand, the unstable political environment might bring forth changes in the legislation,
which might affect the operations of the business undertaking.
On the other hand, Vietnam is governed by the communist party, which has helped in
stabilizing the political environment in the nature. However, the degradation of human rights in
the nation has affected the livelihood of the people and businesses in the nation. Khan (2013)
stability in the governance and political scenario helps an organization in empowering the
smooth functioning of the processes. The minimization of trade tariffs will be helping the
organization in making an expansion in the nation. The delineation of the different regulations
and the flexibility of the same helps an organization in supporting the efficiency of the
operations as per the needs of sustenance in the market. The stable political situation of the
nation will be helping the organization in holding positive relation with the different government
stakeholders. Collaborative functioning with the government stakeholders will be helping the
organization in supporting the processes as per the needs of the same. Rowley (2013) stated that
the collaborative functioning of the business with the government stakeholders helps the same in
upholding the efficiency of the operations as per the needs of the same. Therefore, as per the
comparative study of the political situations in South Korea and Vietnam, the organization must
take steps to make an expansion in Vietnam for working on the profitability and smooth
functioning initiative.

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Economic
The GDP of South Korea per capita was 29,750$ computed in the year 2017
(Koojaroenprasit, 2012). On the other hands, the potentiality of the dairy firms in the market
might help the concerned organization in undertaking an expansion. However, the nation
facilitates a lower rate of imports as compared to the other countries. It might challenge the
capabilities of the concerned organization in making an expansion in the South Korean markets.
The import tariffs and restrictions are regulated by the nation in order to minimize the volume of
imports in the nation from the other countries. The lower receptive nature of the economy might
affect the organizational operations while making an expansion in the South Korean economy.
On the other hand, the increased rate of unemployment in the South Korean economy has
affected the potentiality of most of the customers. It has been reported that 15% of the total
South Korean population is below the poverty line, which has affected the affordability of the
same to the product and service offerings. The enhanced cost of labour force might affect the
capabilities of the organization through enhancement in the operating expenses.
On the other hand, the GDP of Vietnam was 2,342$ as was computed in the year 2017
(Shultz, 2012). The lower GDP of the nation might affect the organizational expansion in the
Vietnamese markets. However, the higher potential of dairy industry in the nation will be helping
the organization in following a steady expansion policy. One of the major opportunities that is
faced by the concerned organization is dependent on the fact that Vietnam is one of the emerging
nation in East Asia. The organization can prosper in the developing nation through minimal trade
tariffs and restrictions. Edwards and Phan (2013) stated that most of the organizations aims at
expanding their activities in the developing nations in order to support the flexible functioning of
the same as per the market demand. On the other hand, the rate of unemployment in Vietnamese

11STRATEGIC BUSINESS MANAGEMENT
market is 9.8%, which is lower than that of South Korean markets. It will be helping the
organization in finding potential customers in Vietnam over the South Korean markets. Hewison
andKalleberg (2013) stated that the development of organizations is dependent on the
identification of the minimum rate of unemployment as it helps in supporting the organizational
operations through the supply of potential customers. Higher employability of the people in
Vietnam has helped in enhancing their livelihood. Moreover, Vietnam constitutes of a lower-
middle income group, which is developing. Therefore, the developments in the employment
opportunities will be helping the business in maintaining the efficacy of the operations through
better demand. Therefore, the organization must take steps to expands their venture in the
Vietnamese markets in order to facilitate the smooth functioning of the systems with diverse
economic capabilities.
Social
The total production of raw milk in South Korea was KRW 2.2 trillion computed in the
year 2016 (Do, Oh & Lee, 2014). On the other hand, the nation ranks 3rd in the context of
dairy and food processing industry. The production of milk in the nation contributes to the total
GDP of the agricultural sector by 3.6%. It provides the organization with an ample scope of
expanding in the South Korean markets. However, the enhanced competitiveness in the markets
might affect the smooth functioning of the concerned business as per the objectives of
sustainable growth. In a research, it has been reported that the South Korean consumers are more
loyal to the organizational offerings of their own nation. Therefore, there is minimum scope for
the organization in coping up with the competition in the South Korean markets. The nation itself
contributes to the food and agricultural production in a vast quantity. Therefore, the nation
restricts the expansion or import of agricultural or dairy products from the other countries. It

12STRATEGIC BUSINESS MANAGEMENT
might affect the interests of the concerned business while holding their expansion proposition to
the government of South Korea.
Vietnam has an ample amount of labour force amounting to 53,748 million, which will be
helping the concerned business in allocating cheap labours to the processes that are designed by
the venture (Lee, 2016). On the other hand, the increasing demand of fresh milk in the nation
will be helping the concerned organization in supporting the goal of expansion in the markets.
The higher rate of malnourished children in the nation will be helping the organization in placing
their product offerings and market the same more efficiently. The lower availability and
processing of milk in the nation, which is indicated through the lower consumption of the same
will be helping the organization in increasing the sales volume. Nguyen-Viet and Imai (2018)
stated that the GDP per capita increased from 700USD in the year 2005 to 1479USD in 2012,
which has helped the Vietnamese in maximizing the consumption of milk. Therefore, it will be
helping the concerned organization in enhancing the sales volume through the higher demand
that will be faced by the same. Most of the potential customers are aware of the benefits that
might be derived from the milk. Therefore, the Vietnamese market provides the organization
with a higher scope of expansion for supporting the enhanced profitability of the same.
Technological
The enhanced utilization of broadband and internet penetration in the South Korean
markets will be helping the concerned organization in maintaining the efficacy of the marketing
propositions as per the needs of the buyers. On the other hand, it has been reported that 73% of
the total mobile utilizing population depends on the internet services (Shin & Koh, 2017). It
will be helping the organization in undertaking digital and social media promotional activities.
The government of South Korea also introduced milking robots for supporting the dairy

13STRATEGIC BUSINESS MANAGEMENT
production related farmers. It has helped the nation in making aggressive progression in
enhancing the milk processing and producing capabilities. On the other hand, the existing players
in the market have enhanced the rate of competition in the market. It might affect the smooth
functioning of the concerned organization while adhering to the different changes in the
organizational design. The rigid regulations and frameworks that are imposed by the South
Korean Government relating to the utilization of technology by the expanding organizations
might affect the capabilities of the concerned organization while making an expansion in the
South Korean markets.
The emergence of IT systems in Vietnam has helped the same in maintaining the pace of
development. The nation ranks 18th among the world for the maximum number of customers
indulged in internet operations. On the other hand, Khan (2013) stated in a report that 20% of
the internet users in Vietnam utilizes online shopping sites. It has also enhanced the scope of the
concerned organization in making a huge expansion in the Vietnamese markets. The Vietnamese
government approved a project “Improvement of computer usage and public Internet access
ability in Vietnam”. It will ensure the developments in the IT systems, which will be helping the
concerned organization in maintaining the efficacy of the operations as per the needs of the
business expansion. Rowley (2013) stated that the rapid growth of the IT systems in the nation
helps an organization in maintaining the efficacy of the marketing initiatives leading to
expansion of the same. On the other hand, the increased dependency of the nation on the
agricultural imports, like milk, from the different nations will be supporting the objectives of the
concerned organization in making a wide expansion in the markets.

14STRATEGIC BUSINESS MANAGEMENT
Environmental
The South Korean government intervenes in the different environmental protection and
controlling the high level of emissions. Hoadley (2017) stated that the environmental policies
that are designed by the governments helps in maintaining the efficacy of the environmental
protection activities. The dairy firms release significant amount of impurities in the environment
that might be toxic in nature. Therefore, the environmental protection agencies and the
government formulated and imposed different regulations for controlling the release of toxic
wastes in the environment. The rigid policies and regulations that are framed by the South
Korean government might affect the smooth functioning of the concerned organization as per the
needs of supporting sustainability.
On the other hand, Vietnam has a tropical monsoon climate, which challenges the
production of milk as the cows produce milk at the range of 5 to 21°C temperature (Aspalter,
2017). On the other hand, the different impurities that are released through the milk processing
activities might affect the health and wellbeing of the people. Therefore, the Vietnamese
government has taken steps to implement strict quality standards. The enforcement of the quality
standards and the regulation relating to the installation of filters might increase the operational
cost of the concerned organization. The increased operational cost will reflect on the pricing
structure that is followed by the organization. The enhanced price of the commodities will be
affecting the rate of sales volume as the lower-middle income group will not be able to afford the
high priced commodities. The implementation of the different control and quality mechanisms
will also affect the organizational capabilities of retaining the potential customer base. On the
other hand, the natural disasters like Hurricanes and storms challenge the smooth functioning of
the dairy farms.

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Legal
The South Korean government leveraged several regulatory incentives in order to attract
different international firms to make foreign investments on the different sectors. Dang (2016)
stated that the regulatory incentives helps an international organization in maintaining their
efficacy while operating in different economies. However, separate milk pricing system that is
introduced by the South Korean government will be aiming at supporting the increasing needs of
communities to consume milk at a lower price. Grafton et al. (2019) stated that the government
regulated price systems often affects the organizational pricing structures. The different changes
in the government’s rigid pricing structure might affect the interests of the concerned
organization while making business in the nation. Kerkvliet (2018) stated that the concern of
most of the governments are dependent on the wellbeing of the people rather than the
profitability of the business firms. In this relation, the enumeration of the pricing structure by the
government might bind the activities relating to profitability and expansion of the concerned
organization while operating in the South Korean markets. The imposition of the rigid regulatory
system by the South Korean government might affect the smooth functioning of the concerned
organization as per the objectives of the business.
On the other hand, the legal environment of Vietnam is rather complicated than South
Korea. Lai and Nguyen (2017) stated in a research that the legal framework that is followed by
the Vietnamese government is inconsistent and lacks transparency. It might affect the
organizational understanding of the regulations. However, the reduction in the trade tariffs and
barriers will be helping the organization in maintaining the efficacy of the expansion procedure.
The leniency of the trade tariffs and the barriers has helped the organization in supporting the
market entry of the same in the Vietnamese markets. On the other hand, the government agencies

16STRATEGIC BUSINESS MANAGEMENT
support the growth of the new entrants in the market. The major factors that has been considered
by the Vietnamese government is based on the needs of the nation in importing milk from the
other nations. Therefore, the Vietnamese government has taken steps to reduce the tax and
business tariffs relating to the milk trade with the foreign companies. It will be providing the
concerned organization with an opportunity of making an expansion to the Vietnamese markets
as per the rising demand for fresh milk.
Recommendations for expanding in a market
Therefore, from the above comparative assessment it might be stated that the concerned
organization must take steps to expand in Vietnamese markets as it provides lesser trade tariffs
and will provide the organization with a stable political situation. On the other hand, the ample
amount of workforce will be assisting the business in facilitating the smooth functioning of the
systems as per the concerns faced by the business. The major benefit that the organization will
derive from the expansion in the Vietnamese markets is dependent on the high market demand
that will be faced by the same, which will increase the rate of profitability. Moreover, presence
of efficient and effective technologies would act assistance for the organization in terms of
increasing the trafficking of the audience towards the brand image.
Task 3
The comparative assessment of the different macro- environments and market structures
help an organization in identifying the threats and opportunities relating to political, economic or
technological elements. The better identification of the different macro- environmental factors
and comparison of the same between the different markets helps an organization in facilitating
profitability through market entry. Benjamin, Brandt & McCaig (2017) stated that the study of

17STRATEGIC BUSINESS MANAGEMENT
the macro- environmental factors helps an organization in identifying the modifications that
might e undertaken by the same for sustainable growth. On the other hand, Langham and Parry
(2017) noted that the comparative study of the macro- environmental factors helps an
organization in understanding the legal constrains that might be encountered by the same while
operating in economies.
The political factors in the macro- environmental analysis helps an organization in
identifying the political situation of the nation and the trade tariffs that might be faced by the
same while making an expansion. Again, study of the economic situation of the nation helps an
organization in identifying the potentiality of the customers in affording the product and service
offerings of the business. The identification of the social structure and the potentiality of the
customers help an organization in identifying the demand that might be faced by the product and
service offerings of the business. Nguyen (2018) stated that the comparative study of the
political, economic and social factors helps an organization in designing the propositions as per
the demand faced by the same in the respective markets. On the other hand, Sircar and Lee
(2017) opined that the study of technological advancements and the legal bindings in a nation
helps an organization in framing the operations as per the needs of achieving competitive
advantage. The comparative macro- environmental analysis of the nations helps an organization
in identifying the best- suited market as per the product and service offerings of the same. It
helps an organization in gaining a competitive advantage over the other existing players in the
respective markets.
Koojaroenprasit (2012) stated that the different aspects of change in the organizational
operations are dependent on the assessment of the market structure. Identification of the demand
and potentiality of the customers through the macro- environmental assessment helps an

18STRATEGIC BUSINESS MANAGEMENT
organization in upholding the efficacy of the operations. On the other hand, the assessment of the
technological innovations that are undertaken by the existing players in the respective markets
helps an organization in achieving the competitive advantage of the same. Therefore, the
comparative assessment of the macro- environmental factors in the different nations helps an
organization in maintaining the efficacy of the designing process, perceiving the demand faced
by the same.

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