Answer To: Individually, you are required to conduct an external and internal environmental analysis for Tassal...
Asif answered on Dec 13 2021
Strategic Management 8
Strategic Management
Name and Number of Student
Date of Submission
Table of Contents
A. Introduction to Tassal Group: 3
B. External Analysis: 4
PESTLE Analysis 4
Political 4
Social-Cultural 5
Technological 5
Legal 5
Environmental 5
C. Internal Analysis: 5
D. Recommendations 6
E. References 8
A. Introduction to Tassal Group:
Generally, Tassal Group Limited (TGL) is a one of the leading, fast growing and reputed Australian public company that mainly generates revenues & profits from farming, processing, promotion and auction of Atlantic salmon and other seafood. Moreover, it is also found that, Tassal was founded in the year 1986 as a salmon farming company. Since 2013, the company is listed on ASE (Australian Securities Exchange) under TGR code. In the present time, it is considered one of the biggest, leading and principal producers of Tasmanian grown Atlantic salmon. In the same way, it supplies salmon in both global and local/domestic bazar. In the current time, the company has a strong base of talented, skilled, and experienced people. For case, the company has more than 12000 people in the different states of Australia such as: Queensland, Tasmania and New South Wales (Tassal Group. 2020).
Moreover, it employs more than 1530 full time employees It is also engaged in both domestic and export segment. At the same time, it is also analyzed that, TGL is produce different types of salmon formats & flavors from garden-fresh deli and fresh packaged, to smoked and canned. The product range of TGL includes hot smoked & smoked, canned salmon under the different brands names such as: Tassal, Superior Gold and Tasmanian Smokehouse. Furthermore, it is analyzed form the past financial reports of the TGL that, the company’s revenues are growing at the rapid rate from the last five years. The following given table shows total revenues of TGL for last five years such as:
All values AUD Thousands
2016
2017
2018
2019
2020
Sales/Revenue
425,185.0
444,716.0
473,933.0
551,343.0
552,614.0
Sales Growth
--
4.59%
6.57%
16.33%
0.23%
Basically, market/industry dynamics are the key and major factors that have a direct and indirect impact on the prices as well as behavior of consumers and producers. It is found that, the Tasmanian Salmon industry and Tassal group seek to produce Salmon farming output. This progress would bring risk to forecast plans and optimal growth. In the same way, operational planning via strategic planning process would be dangerous (Tassal Group. 2020). Tassal described favorable salmon market dynamics, with strong consumer demand outpacing supply growth. The company is growing in both domestic and global market. Additionally, the company is facing high competition from other players in the industry. For case, Petuna Aquaculture, Cermaq Group, The New Zealand King Salmon, Bakkafrost, SalMar ASA, Camanchaca etc. are the main competitors of TGL. These are affecting the business operations, strategies, polices and revenue of TGL negatively (Furrer, Thomas, & Goussevskaia, 2008).
B. External Analysis:
In order to access, analyze and understand the external environment of TGL, PESTLE analysis would be conducted.
PESTLE Analysis: It is a strategic management tool or framework used to examine and analyze the key factors (Political, Economic, Sociological, Technological, Legal and Environmental) affecting a company’s business operations, strategies, practices, and polices from outside. This tool helps a company in addressing as well as examining external/non-controllable factors that have direct and indirect impact on the functioning and business operations of the organization (Ethiraj, Gambardella, & Helfat, 2016).
· Political: The present political scenario/ environment of Australia is more operate and appropriate as compare to the other countries of the...