‘

SCHOOL OF HOUSING, BUILDING AND PLANNING

SEMESTER 2 2021/2022

RQG 355 MANAGEMENT, SUSTAINABILITY & INTERNATIONALISATION

PROJECT TITLE:
ENTREPRENEURSHIP & BUSINESS ORGANISATION

NAME MATRIC NUMBER

MUHAMMAD AZIM BIN MOHD ASRI 147759

LOW AII YII 148174

SITI MASITAH BINTI ABDUL MANAN@ZAHARI 151946

LECTURER:
PROF. SR. DR. MASTURA JAAFAR

DATE OF SUBMISSION:
27TH APRIL 2022
 1.0 INTRODUCTION

Figure 1: Components of SWOT

Source from https://cacoo.com/blog/using-a-swot-analysis-to-develop-core-business-strategies/

Strengths, weaknesses, opportunities and threats (SWOT) analysis is a technique that is

able to evaluate and assess these 4 components of the company (MindTools, n.d.). Figure 1
shows the layout of SWOT which provides an overview of the company’s condition quickly
(Kenton, 2021). By analysing each of the components of SWOT, it helps to develop strategy by
utilising strengths and opportunities to overcome the weaknesses and threats (Schooley, 2022) to
achieve the company goals (Business Queensland, n.d.).

Basically, the SWOT analysis consists of internal factors and external factors where the
internal factors are strengths and weaknesses while the external factors are opportunities and
threats (Berry, n.d.). The internal factors, such as financial, manpower and location, usually refer
to the factors that could always be within the control of the company (Hashaw, 2019). However,
the external factors, such as financial, government regulation and trends, refer to the external
existence element to the company which the company is unable to do with the changes (Hashaw,
2019).

According to Mardiana & Sutarman (2018), as the name implies, strengths and
weaknesses are defined as the strengths and weaknesses existing in the company, respectively.
On the other hand, the opportunities and threats are the potential opportunities and risks that
might grow in the future, respectively (Mardiana & Sutarman, 2018). As SWOT analysis is very
useful, all types of companies are encouraged to conduct. Normally, the existing company is
utilised for the changing environment evaluation so that the company will be able to react
proactively (Gratis, 2021). Apart from that, new businesses are highly recommended to conduct
the SWOT analysis as it enables them to assist new businesses in preparing their own business
plan for the planning stage (Gratis, 2021).
 2.0 ARTICLES REVIEW
2.1 CONSTRUCTION INDUSTRY
Nowadays, the construction industry is a popular industry that is wanted by the new
generation who like an adventurous scope of work. From research, we can see the construction
industry is the second largest industry that contributes to Gross Domestic Product (GDP) which
can increase and balance the economic condition of a country. The GDP in one country can be
balanced and also boost the national economy if they involve their workers in many projects of
construction either in the residential sector or non-residential sectors.

As everyone know, construction industry mostly related with heavy work, using heavy
tools, big machinery like trucks and others but actually construction are divided into two sector
which residential and non-residential and not every sector need going to site for site visit or
control big machine but each sector has its own merits with a varied and rewarding range of
work projects.

Following the flow of time as accordance to the advanced technologies of the present
time, the construction industry also involves their work with technology improvement to ease
their work especially in drawing, calculating, modelling and others. Technologies also could help
the project complete easily, fastest as follow the timeline that was given by the client. The
example of technologies that had been used in the construction industry such as Building
Information Modelling(BIM) software, drones, 3D printing and others. The company that used
technologies in their project will get advantages and disadvantages from the technology used and
from this we can make an analysis to know the strength, weaknesses, opportunity and
threat(SWOT).

SWOT analysis is a powerful tool for sizing up an organisation's resource capabilities and
deficiencies. SWOT also is a framework used to evaluate a company's competitive position and
to develop strategic planning. This tool is often used at the beginning of the process of defining
future strategic plans and could help the organisation to detect the weaknesses, threat, strength or
opportunities in their project. So, from the technologies used we can do the SWOT analysis to
detect whether it can give benefit or not in the project that is handled by one organisation.
 In this report, the title that I had chosen for my article review in the construction industry
is SWOT analysis of Chinese Construction companies in the global market. Global marketing is
one activity that involves planning, producing, placing, and promoting a business products or
services in the worldwide market. Global construction market in recent years has witnessed a fast
expansion of Chinese international construction companies (CICCs). Since 2007, Chinese
companies were listed on the Engineer Top Record 2005 International Contractor and have
gained $16.289 billion from the global construction market. From the data given, either
consultation, design or labour has shown an increase of the total amount that they gain for their
international market in construction fields.

The strength that I gain from this article about Chinese construction companies in the
global market for CICCs is low cost and good value for money. It is hard to keep the secret of
how low cost formulate the sharpest competitive in CICCs. This situation is related to leadership,
planning and strategy of the organisation which enables it to win the widespread practice in the
construction market. Another sign to know how the company or firm winning the competition,
which is the contractor, is often awarded with lowest-price bidders.

Next, hard work is another strength that I found in this article about global market
construction in Chinese. Working overtime is common for construction fields, the hard work of
Chinese construction workers also particularly impressive. There are a few factors that influence
Chinese workers to have work hard and overtime environment in the construction field which
comes from Confucianism. Confucianism is a factor of Chinese social values, loyalty, obedience,
hard work, modesty and so on. This factors is started from more than 2,000 years ago and it has
tremendous influences on the culture of East Asia and therefore this factors also not surprising
others country and they admire the influence that bring from 2,000 years ago until now.

Plenty of cheap construction materials available is another strength that I found from this
article about global market construction fields in China. Materials that use for the construction
process such as cement, plate glass, industrial glass, materials that include gypsum plates,
granitic plates etc. These materials have wide availability of cheap construction materials in
China and it has become a profit also supporting the CICCs in the global market. Thus, material
that is used in the construction process will show the strong demand that drives high speed
growth of China’s construction sector.

The weakness in this article about the global market, especially CICCs in Chinese
countries, is low management capacity. As mentioned previously in the strengthening point,
CICCs application that is used by China state is really giving a benefit to them especially when it
is related to manpower, materials, a number of professionals etc. However, the international
client have a lack of sufficient funds which is the biggest problem to enter into bidding for most
of their projects in China. Even CICCs are a great option that can be used in China but they also
have their own weaknesses which is they have a lack of experience to create financial solutions
for clients.

Weakness in professional services is another weakness for China's construction global

market. Professional services in this part are related with actors in the built environment that
involve in construction process stages either before construction or during construction. The
example of professional services that are always used in construction such as engineer, architect,
etc. Consultancy, accountant and lawyer also include in services part to make an easier to the
client to proceed their progress and help them out from any conflict or confusion. Unfortunately,
China professional services companies are mainly staying in China. The limitation had given a
problem to grow differently with western companies who are mainly benefitting their
professional services. The limitation happened also because of the problems that contractor
Chinese need to face such as tax system and inflation in an overseas market.

The opportunities that I found in this article is about more open global construction
market. Construction market is defined as one activity that consists of the sales revenue earned
by entities that construct buildings or engineering projects. Example of entities such as
organisation, sole traders, and partnership. Therefore, projects that mostly involve engineering
and construct building are highways, and utility. The construction market also includes new
works, additions, alterations, maintenance and repairs. Referring to the article, CICCs are
supposed to embrace a more open global construction market after China's entry into WTO in
2001 and it will give an opportunity for CICCs to expand their company into new overseas
markets. This is the reason why China will enjoy the equal criteria of market access and national
treatment to other economies.

The threat of CICCs in market construction industry is intense competition in the global.
Globalisation has made the whole world a battlefield for competition. This is because another
country and region had offered different things in their company to the client. Thus, the
construction industry has been normalising with competition to make sure their clients trust them
and at the same time can attract others to give the new project to their company. Not only that,
the firms also can access skilled labourers across borders through outsourcing and migration. In
addition, with competition the company can do their best during the mega project and hired more
people, especially foreigners, to complete their project. In fact, in this industry there is no player
that regardless of size, location or specialty is immune to the impacts of globalisation. However,
small companies often find their niche market by working on smaller projects or selecting
projects to provide specialised service to large firms.

Sophistication of management and technologies also is another point for threats that I
found in the article that I had reviewed for the construction industry. As everyone knows,
technology is really important to our life nowadays. Every activity that we do mostly we use
technology to ease our task. Same in industry construction, we need technology such as CAD
application, BIM, and many more to make us easy to do the project completely with the timeline
that had been given by the client. Beside the typical risks of a domestic project, international
projects have a complex.
 2.2 MANUFACTURING INDUSTRY

In the manufacturing industry, changes occur frequently, and new business owners and
entrepreneurs must be aware of and aggressive in responding to these changes. They must
conduct an internal environment evaluation, which involves an examination of the organisation's
structure and processes, natural and human resources, operational costs, and day-to-day
operations. Furthermore, it is critical to have a thorough understanding of the external economic,
sociological, social, political, and technological environment. Internal elements such as
personnel, customers, organisational culture, alliances, and reputation are within your control.
External influences are not always under our control. Additionally, the size of the market and
demand, regional and national economies, competition, suppliers, and industry legislation must
be taken into account.

A SWOT analysis of the manufacturing industry might help you stand out when creating
a business. A SWOT analysis of the manufacturing industry's essential factors is designed to
discover the critical factors affecting the industry's success. Internal strengths and weaknesses of
a business, as well as external opportunities and threats. A SWOT analysis is a critical
component of every organisation or sector. The primary objective of SWOT analysis is to assist
businesses in achieving high-quality, accurate results and goods while also maximising their
return on investment. A SWOT analysis of a process requires both an internal and external
assessment of strengths and weaknesses, as well as an assessment of threats and opportunities. A
SWOT analysis is composed of four components: Strength, Weakness, Opportunity, and Threat.

● Strengths

The manufacturing industry's strength is its relative stability. While manufacturing

demand fluctuates in reaction to the economy's ups and downs, it is characterised by recurrent
recovery periods following any downturns. Additionally, manufacturing efficiency has increased
significantly over the previous century, with the capability to maximise both labour and machine
efficiency to maximise profits.
 ● Weaknesses

The manufacturing industry's weakness is its heavy reliance on non-essential commodity

output. This means that a severe economic slump might have a debilitating effect on the
economy. Another disadvantage is that the industry is mature. This shows that competition is
severe and that growth opportunities are limited. As a result, manufacturing can be a lucrative
company for people already in the industry but maybe unappealing to newcomers

● Opportunities

Opportunities for the manufacturing industry exist in the technology and biotechnology
sectors. These are profitable and growing market areas. Additionally, they are knowledge-
intensive market niches that demand highly specialised staff, making it more difficult for low-
wage countries to compete and confer an advantage on more industrialised countries.

● Threats

The primary threat to wealthy nations' manufacturing industries comes from low-wage
countries. Due to these countries' low salaries, many businesses in developed countries have
been unable to compete, forcing them to close or go overseas in search of cheaper labour.
 2.3 FOOD AND BEVERAGE INDUSTRY

In recent years, bubble tea trends have been getting wilder as innumerous bubble tea
shops were established in Malaysia (Wong, 2019). For instance, there are Xing Fu Tang,
Daboba, Tiger Sugar, Black Whale and Tealive which were founded in 2017, 2018, 2017, 2018
and 2017 respectively. According to Wong (2019), out of 3 people, there is one person who will
be holding a cup of bubble tea in a shopping mall or around the shops.

According to Tan (n.d.), in 2017, there was a drastic occurrence of a dispute between
Chatime and Tealive. During that time, La Kaffa International Co Ltd, owner of Chatime
terminated the contract of Loob Holding Sdn Bhd, who was a Chatime franchise holder but now
the owner of Tealive. After the termination, Loob Holding has successfully rebranded all the
Chatime into Tealive in Malaysia. Despite all the challenges, Tealive still managed to get
through and make it one of the outstanding bubble tea shops in Malaysia.

There was a research conducted by Hilarion & Naim (2017) regarding the dispute and
SWOT analysis of Chatime and Tealive during the time when Tealive just rebranded.

● Strengths

According to Hilarion & Naim (2017), innovative reputation is one of the strengths as
Tealive is considered as a new brand with a new slogan of “Tea is Life”. Due to it was used
under Chatime, Tealive has gained its huge networking and the knowledge from the local market
which make them more experienced in the field. Other than that, it also leads Tealive to have a
huge connection with the suppliers and customers. Moreover, Tealive also shows good team
working as the workers were still willing to work during Chinese New Year and Valentine Day,
especially when Tealive was just rebranded from Chatime.

● Weaknesses

For the weaknesses, apparently one of the weaknesses was the brand was still unproven
from the public. This is due to the fact that the public was unsupportive and thought Tealive was
a copycat of Chatime. Unfortunately, Tealive was accused of selling non-halal drinks which led
the brand to bad press regarding the natural ingredients. During that time, there was also a lack
of diversity in the menu which the customers only had limited choices to choose.

● Opportunities

Since there were many people still confused about Tealive and Chatime, it resulted in a
lack of awareness of the Tealive brand which could then be improved by implementing
marketing efforts. In other words, collaborating with other companies by sponsoring drinks for
the event not only enables to increase the exposure but also to improve the innovation. Besides,
in order to let the customers enjoy their drinks, expansion of the waiting area is one of the
opportunities for Tealive to as well increase the sales.

● Threats

Obviously, one of the threats of Tealive was competitive among other bubble tea brands.
Especially, when the style of Tealive and Chatime are so similar with one another and there were
also various bubble tea brands established during that time. Lastly, it also encountered an
economic slump which caused Tealive in revenue loss and profit loss as the public preferred to
save money instead of spending on the boba drinks.
 3.0 CASE STUDY

3.1 COMPANY BACKGROUND

COMPANY BACKGROUND

Tres Iqs Consultancy Sdn Bhd is a QS firm registered with the Board of Quantity
Surveyors that offers professional quantity surveying consultancy services as well as project
management services to all parties involved in the Malaysian construction industry. Tres Iqs
Consultancy Sdn Bhd is a youthful, new, dynamic, and progressive firm that was established on
September 29, 2019, and has the expertise to provide clients with a comprehensive range of
quantity surveying services. Tres Iqs Consultancy Sdn Bhd registered address is 48-1, Petaling
Utama Avenue, Jalan PJS 1/50, Taman Petaling Utama, 46150 Petaling Jaya, Selangor. Tres Iqs
Consultancy Sdn Bhd provides the following services: Tender & Contract Documentation,
Tender Evaluation, Preliminary Estimate, Cost Estimating, Feasibility Studies, Final Account,
Interim Payments and other related services.

3.2 SWOT ANALYSIS

Our team performed an online interview via email platform for Tres Iqs Consultancy Sdn Bhd's
SWOT analysis. The group has prepared some SWOT analysis questions for them. Each
question is divided into the following five sections: Strengths, Weaknesses, Opportunities,
Threats, and General. By asking a series of questions, the group can identify their strengths,
weaknesses that must be overcome, new opportunities that may be explored, and threats that
must be addressed by the company. The SWOT analysis of Tres Iqs Consultancy Sdn Bhd is
shown below.

STRENGTH

Among the basic questions posed in the strength component is what the company’s
strength is, and their response is the company's strength is that it has four directors who are
highly experienced and knowledgeable about the local and international construction markets.
They also specialised in several areas of Quantity Surveying, such as construction methods,
contractual knowledge, structural design expertise, and strong managerial skills. The company
also maintains positive relationships with our developer clients and the construction company
with which we collaborated. Furthermore, one of the questions asked is what distinguishes the
company from others. Tres Iqs Consultancy Sdn Bhd differs from other companies in that it
provides a wide range of services, including not only standard QS consultancy but also Project
Management Contracts, Value Engineering, Tender Services, and Audit services for building
projects.

Moreover, the company was also questioned about the company’s greatest achievement.
Among the company's most notable accomplishments are helping the customer save more than
30 million Ringgit in a single high-rise residential building and archiving a QLASSIC
assessment score of 83. Following that, the company is asked if it provides comprehensive
consultancy services and if the company's location can improve business. According to the
question, the company provides comprehensive consulting services from the initial stage until
the final certificate is issued. They also confirmed that their company's location is in a strategic
area of Petaling Jaya and stated that this location was chosen because the property value for the
office is lower, and it ensures the business's operating costs are low.

Next, the company was asked about its financial status, specifically whether its funds are
sufficient to face the obstacles, and they answered that the company's finances are still sufficient
to handle the challenges. For example, during a Movement Control Order (MCO), the company
never stopped delivering services to the client, and the employer nevertheless paid the employee
the correct amount of salary. Among the additional questions is if the company's culture is
harmonious, with employees having a pleasant relationship with their employer. For Tres Iqs
Consultancy Sdn Bhd, the company culture connects the employer and the employee, facilitating
information flow and reducing office politics.

Last but not least, among the final questions in the strength component are the types of
technology the company employs to facilitate the construction process, and the answer is that the
company employs technologies such as BIM (Glodon Cubicost, CostX) and Microsoft Excel.
Finally, the company was questioned if it is well-connected with other experts in the construction
sector, and the company's response was that they are eager to maintain a strong relationship and
are well-connected with other companies.

WEAKNESS

Some inquiries about the weakness component have been directed to Tres Iqs
Consultancy Sdn Bhd. Among the concerns addressed are those about the company's weaknesses
and how the company can improve. According to the responses, one of this company's
drawbacks is a shortage of staff, with only three Quantity Surveyors (QS). As a result, the
number of projects we can work on at the same time is very limited, and as a result, we are
working hard to create our company's reputation because the number of projects we have done is
rather small. The company must also make improvements, like hiring more QS and improving
Business Development, in order to locate new clients and increase the number of projects we can
finish. The next question is related to the expertise the company is still lacking and the answer is
the company is still lacking expertise in E-Tender Services.

Furthermore, the company was asked about new business chances to develop a good
reputation in the industry, as well as how challenging it is. The company recognises that it is
difficult to establish a reputation because the company's track record is still relatively limited in
comparison to other well-known QS Consultancy Companies such as Arcadis, Perunding PKT,
Northcroft Lim, Unitech QS, and KPK QS. Finally, the company was questioned if it offered
Green Building Index (GBI) advice and if it could function independently with Building
Information Modeling (BIM) software. The company does not offer GBI advice, but it is always
eager to work independently with Building Information Modelling (BIM) software.

OPPORTUNITY

Several sets of questions were addressed to the company under the opportunity
component section. For this component, the company was asked about future opportunities for
the company as well as new opportunities that can bring substantial returns to the company.
Among the new opportunities that can be explored is the company's expectation that it will
obtain more projects from various clients and maintain a good business relationship with them,
as well as the company's expectation that it will become a middle-sized QS firm with 20 - 30
employees in the next 5 years. The company also sees Value Engineering and Auditing as
opportunities to generate big profits in a short period of time.

Moreover, the company was questioned regarding its ability to follow and implement
current industry trends. According to the company's answer, one of the current industry trends is
the use of BIM software, and the fibreglass reinforcement bar may soon replace a part of the use
of steel reinforcement owing to material fluctuation. For the company, they are always ready to
follow industry trends and changes. The next question is about the company's perspective on the
importance of technology and sustainability. This company does not place an emphasis on
technology or sustainability because, as QS Consultants, they focus on cost, duration, and quality
to satisfy the budget and expectations of their clients. . Finally, the company was asked if the
company's networking would be extended in the future. For this question, the company is
extremely optimistic that it would never cease expanding networking in the future.

THREAT

Several questions were asked for this component in order to identify potential threats to
the company. The fundamental question for the component is what the company's threat is.
Among the threats to the company are competitors, which include larger companies that provide
similar services. Furthermore, the corporation was questioned about why the company's
competitors are superior to this company. One of the reasons this company lags behind
competitors is a lack of use of BIM in construction projects. This is due to a lack of manpower
and BIM training. Lastly, the final question is whether the company's position is threatened by
industry changes. According to the company, as material prices continue to rise, developers and
clients may be hesitant to start a new project. This will result in a more competitive market and
fewer projects. As a result, the company's position in the industry will suffer.
Figure
2: Summary of Tres Iqs Consultancy Sdn Bhd SWOT analysis
4.0 SWOT ANALYSIS FOR OUR NEW BUSINESS

CostBina Sdn. Bhd. was newly established and registered with the Board of Quantity
Surveyors on 8th January 2022. The company is located at 95, Jalan Bangsar, Bangsar, 59200
Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, which is located in the city center. It is a
quantity surveying consultancy firm that is led by 3 directors who have been in the construction
industry for decades. All the directors of CostBina are Consultant Quantity Surveyors who are
very experienced and knowledgeable. Due to that, the company is able to provide comprehensive
professional consultancy services from the initial stage to the final stage. The services that
CostBina offer are Tender & Contract Documentation, Tender Evaluation, Preliminary Estimate,
Cost Estimating, Feasibility Studies, Final Account, Interim Payments and other related services.

STRENGTH

The company was able to identify some of our organization's strengths through the
SWOT analysis that was performed. These components are critical success criteria and give the
company with a competitive advantage. Identifying these strengths can provide a company a
significant advantage over competition. One of our company's highlighted strengths is that we
have three experienced directors who are knowledgeable with the local and international
construction markets. The directors' experience and skills are crucial and an important addition to
our organisation. Aside from that, our company's strength is its ability to provide comprehensive
consultancy services, and we are constantly committed to giving quality services to clients.
Furthermore, one of the company's strengths is that we have an excellent relationship with clients
and construction businesses, which we consistently endeavour to persevere. Then, the strategic
location of our company also contributes to the strength of the company.

Furthermore, the company's strength is proven by its recognition by the Quality

Assessment System in Construction (QLASSIC). Our company received great marks in the
QLASSIC evaluation. Furthermore, our organisation values a healthy workplace culture as well
as employee-employer relationship. A toxic company culture will cause conflict inside the
organisation. Furthermore, a company's financial level is frequently an indicator of its success
and strength. For our company, the financial level is deemed to be relatively solid and stable,
with our cash flow being balanced. Finally, one of our company's strengths and advantages is
that we are one of the QS Consultant businesses that has employed Building Information
Modelling (BIM) technology in our projects.

WEAKNESS

Several weaknesses can be found by SWOT analysis. Among them is our company's
shortage of employees and having less experienced staff. Due to a shortage of staff, the company
may become inefficient and less productive. Next, a significant weakness in this company is the
difficulty in establishing a reputation. One of the reasons for our company's difficulty in
establishing a name and reputation is that it is difficult to compete with huge QS Consultant
firms that are already well-known and verified. Furthermore, our company is still regarded to lag
behind other consultants when it comes to providing Green Building Index (GBI) consulting
services, as well as a lack of competence in E-Tendering services. This is due to the fact that the
company is still young in the industry and is not yet able to deliver such services.

OPPORTUNITY

Employment of Quantity Surveying is our first opportunity for our company. Quantity
surveying or also known as cost consultants is a function to ensure building projects remain
within budget. Our task and goals is to provide cost of material estimates, draw up projected
budgets, work alongside a team, note any design changes and calculate any effect on cost. Next,
value engineering and editing also is our responsibility, which we need to calculate engineer
drawing to make taking off and bill of quantities for the projects that we handle. Expand the
business into a middle size of quantity surveying and provide BIM training which can help
improve our quality of company.
THREAT

Threat for our new business is less project. This is because our company is still new in
this industry. So, it's really hard for our company to get new projects, especially project mega.
Another reason why we get less projects is because of manpower shortage, lack of experiences
and unstable financing. It will make the client cannot trust our liability to do the project that is
given. Not only that, our company also has competition with the large consultancy companies
that provide professional workers. Material fluctuations is another threat for our new business
which provides a mechanism for dealing with the effect of inflation. During the calculating of
price, smaller
projects will take
inflation into account
but mega projects
may be asked to
tender based on
current prices.
 Figure 4: Summary of Costbina’s SWOT analysis

5.0 CONCLUSION

In conclusion, SWOT analysis can be used in all types of industries, no matter the
existing businesses or new businesses (Creately, 2021). It helps to assess the overall performance
of the company by determining the strengths, weaknesses, opportunities and threats (DLT Labs,
2020). Therefore, every business will have their own unique component of SWOT. As a new
business in the construction industry, it is encouraged to conduct SWOT analysis in order to
address what the company is lacking, reduce the risks and seize the chances. This is to ensure
that the company is able to survive in the competitive market.

In conclusion, despite existing businesses, new businesses are encouraged to conduct the SWOT

analysis by analysing each component of the SWOT on the company. This is due to the fact that

Berry (n.d.) mentioned that all the companies have uniqueness for their components. Therefore,

there will be no perfect SWOT analysis of other businesses that can be used for any other

different company as every company has different SWOT.

Similar to other industries, a new business in the construction industry is also encouraged

to conduct SWOT analysis to understand the overall health of the company. This is not only to

determine where the company stands in the competitive market, but also to see where the

company needs to improve. By addressing what the company is lacking, reducing the risks and
seizing the chances, it helps to operate their business efficiently as well as survive in the

competitive market.
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