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

Saari Ahmad () and Noraini Othman ()
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Saari Ahmad: University Utara Malaysia
Noraini Othman: University Utara Malaysia

International Journal of Academic Research in Accounting, Finance and Management Sciences, 2013, vol. 3, issue 4, 91-102

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.

Keywords: Planning; future; Malaysia; Herbal Industry; strategy (search for similar items in EconPapers)
Date: 2013
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