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Strategic Planning, Issues, Prospects and the Future of the Malaysian Herbal Industry

Author

Listed:
  • Saari Ahmad

    (University Utara Malaysia)

  • Noraini Othman

    (University Utara Malaysia)

Abstract

The importance of Strategic planning to business organizations either big or small has been emphasized in strategic management literature. Not many researches were conducted to study the applicability of strategic planning in the herbal industry. This article attempts to provide insight to the strategic planning in the herbal industry as well as identifying issues, prospect and future of the Malaysian herbal industry. Herbal industry was classified in two major streams that are culinary herbs, medicinal herbs. The issues identified are such as regulatory issues, consumption of herbal products, product quality, research and development, side effect, imported herbal medicine, pricing, current market status, technology and human resources. Besides that the Malaysian government supported the herbal industry by providing incentives through SME Corporation and other ministries and government agencies. Thus the Malaysian herbal industry has a good potential to grow.

Suggested Citation

  • Saari Ahmad & Noraini Othman, 2013. "Strategic Planning, Issues, Prospects and the Future of the Malaysian Herbal Industry," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 3(4), pages 91-102, October.
    • Handle: RePEc:hur:ijaraf:v:3:y:2013:i:4:p:91-102
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    References listed on IDEAS

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    1. Armstrong, J. Scott & Reibstein, David J., 1985. "Evidence on the Value of Strategic Planning in Marketing: How Much Planning Should a Marketing Planner Plan?," MPRA Paper 81680, University Library of Munich, Germany.
    2. Mohd Khairuddin Hashim & Sa'ari Ahmad & Mustafa Zakaria, 2010. "Internationalisation incentives and problems: insight from Malaysian SMEs," World Review of Entrepreneurship, Management and Sustainable Development, Inderscience Enterprises Ltd, vol. 6(1/2), pages 100-112.
    3. Sa’ari Ahmad & Mohammed S. Chowdhury, 2012. "A Study on the Importance of Export Assistance Programs: The case of Exporting Small and Medium Sized Enterprises of Malaysia," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 2(3), pages 43-50, July.
    4. J. Scott Armstrong, 1986. "The value of formal planning for strategic decisions: Reply," Strategic Management Journal, Wiley Blackwell, vol. 7(2), pages 183-185, March.
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    Cited by:

    1. Daliborka Blazheska & Meri Nickova, 2016. "Creating Marketing Strategies for Development of the Wine Tourism," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 6(4), pages 177-184, October.

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