Research On The Development Strategy For Jilin Huihong Oil Limited Company

In recent years,the consumption demand of edible oil in China maintains the trend of rigid growth in the total amount,and the edible oil industry as a whole has achieved rapid development.With the improvement of people’s living standard and the continuous rise of health concern,the consumption demand of food oil keeps growing,presenting more diversified,high-quality and healthy demands.The quality,nutritional value and quality safety of edible oil are also receiving more and more attention.The state gives strong support to the grain industry and has always taken ensuring national food security as its main goal.The 14 th Five-Year Plan and the No.1 Central Document have proposed to ensure the security of grain and oil supply and vigorously implement the project of improving oil production capacity.For oil and oil enterprises,they are faced with both opportunities and challenges.The Jilin Huihong Oil Co.,Ltd.studied in this paper is an oil industry enterprise.Jilin Huihong Oil Co.,Ltd.was established in 2018.Since its establishment,it has maintained a steady development trend.However,with the new era of supply-side structural reform and innovation,transformation and development,China’s oil industry has entered a period of strategic opportunity to upgrade the industrial chain and adjust the industrial structure.Jilin Huihong Oil Co.,Ltd.has many problems such as single product category,lack of core talents,low management ability and low brand awareness,which make the company face many challenges in its sustainable development.In the face of the current industry background of continuous growth of demand for edible oil and the opportunities and challenges encountered by enterprises,Jilin Huihong Oil Co.,Ltd.needs to study the company’s development strategy,solve the current problems faced by the company,seize the favorable development opportunities,implement effective development strategies,and help the company’s sustainable and healthy development.Jilin Huihong Oil Co.’s development strategy is based upon the current oil industry development situation and future trend,as well as strategic management knowledge,in this paper.,Ltd.was studied.This paper deeply studied the development status of Jilin Huihong Oil Co.,LTD.,and found the existing problems of the company and the causes of the problems.The paper examines the external environment of the enterprise,utilizing the PEST tool and five forces model to assess the macro-environment and industry environment,respectively.The internal environment is then evaluated through the enterprise’s resources and capabilities.Through SWOT tool analysis of the advantages,disadvantages,opportunities,and threats of the enterprise,four types of enterprise development strategies were obtained.Through quantitative evaluation and analysis of the strategies using QSPM matrix tool,it was proposed that Jilin Huihong Oil Co.,Ltd.should choose the SO strategy to build new products by consolidating the advantages of research and development,carry out brand building and maintain the new image,and increase new channels by restructuring the marketing system.To strengthen technology and research and development,constantly develop new products,to meet the individual needs of consumers.Give full play to quality advantages,expand customer groups,brand building,expand brand awareness.Carry out diversified marketing publicity and open up new consumption channels.Enterprises should better fulfill their social responsibilities,establish a standardized,normalized and refined management mechanism,and strive to develop into a leading oil and oil enterprise In Jilin Province,the paper proposes enhancements from corporate culture formation,human resource administration,information and data formation to guarantee the successful execution of the firm’s growth plan.Strengthening the data and information construction,offering comprehensive backing for the firm’s strategy execution,augmenting the cultivation and instruction of talents,fully exploiting their benefits,enhancing the managerial and research and development level to facilitate the enterprise’s long-term growth,ardently advocating corporate culture,boosting the sense of inclusion of personnel,guiding the company’s progress,all of which will benefit the firm.to sustainable development direction.