Research On Competitive Strategy Study Of The Rice And Wheat Business Of Garibsons Ltd

The Garibsons Pvt.Ltd.,located in Pakistan,processes and exports rice,rice bran,rice husk,and wheat.The vast majority of its rice is exported to other countries under the "GPL" brand.It also makes a private label brand of rice called "Mughal," which is sold in the domestic market.Garibsons Ltd.needs a competitive strategy because it sells similar products in a market where there are a lot of other companies selling similar products.With the right competitive strategy,Garibsons Ltd.can gain an edge in the market and get a better return on its investment.A competitive strategy is its long-term action plan to obtain an advantage over its rivals by analyzing those rivals’ SWOT profiles in comparison to its own and making a suitable competitive strategy.As a professor at Harvard,Michael Porter first introduced the idea of a competitive strategy.His research led him to conclude that companies all over the world use one of three distinct competitive strategies: cost leadership,differentiation,and focus competitive strategy.Companies need to understand this idea well enough to make good business decisions.Through the questionnaire and the expert reviews,this study investigates all of the company’s activities,including its human resources,marketing plan,production capacity,financial situation,and the direction and management of the business.summarise the internal strengths and weaknesses based on the above investigation and analysis,and assign a weight score to each internal strength factor and weakness factor(each key factor has been assigned a weight range from 0.0(low significance)to 1.0(high significance).The figure indicates how essential the factor is if a business wants to be successful in the industry.The study concludes with an IF(internal factor)matrix.This study also investigated Garibsons Ltd’s external environment,including the macroenvironment and the industrial environment,using a questionnaire and expert reviews.The study investigates the macro-environment using the PEST framework(political,economic,social,and technological factors)and the industrial environment using Porter’s Five Forces framework(the rivalry among competing firms,the bargaining power of suppliers,the bargaining power of consumers,the potential entry of new competitors,and the potential development of substitute products).summarise the external opportunities and threats based on the above investigation and analysis,and assign a weight score to each external opportunity factor and threat factor(each key factor has been assigned a weight range from 0.0(low significance)to 1.0(high significance).The figure indicates how essential the factor is if a business wants to be successful in the industry.The study concludes an EF(external factor)matrix.Based on the IF matrix and EF matrix,the study conducted a SWOT analysis.After putting the company’s strengths and weaknesses with its opportunities and threats,the study comes up with three different ways to compete: cost leadership,differentiation,and focus.At the base of the alternative strategy,the study examined and compared these alternative strategies using the QSPM matrix.In this study,a total of 20 Garibsons Ltd.employees and managers,as well as enterprise experts,were asked to assign a 1-4 rating to each factor.The rating indicates how effectively the firm’s alternative strategies respond to each key factor: 1 =the response is poor,2 = the response is average,3 = the response is above average,and 4 = the response is superior.The differentiating strategy received a total score of 6.92,which was higher than the cost leadership strategy’s score of 6.26 and the focus strategy’s score of 5.37.That indicates that the differentiation strategy did better on the test,and that it is a better fit for the company.So through the above internal and external environment analysis,and SWOT,QSPM analysis,the study came to the conclusion: the differentiation strategy should be a suitable competitive strategy for Garibsons Pvt.Ltd.’s rice and wheat businesses.One of the biggest limitations faced by the research was the limited availability of the data,which resulted in limited discussion over the company’s profile and operational practices.Meanwhile,due to COVID-19,the data was collected through virtual means.In the future,research can include a more in-depth look at the different companies that make wheat and rice.