Yeo Hiap Seng Limited (YHS), also known as Yeo’s, is a well-established company that is renowned throughout Asia and Oceania, in the UK, USA and Canada (Yeo’s, 2015).
It was established by Mr Yeo Keng Lian and his friend in Zhangzhou in the Fujian Province of China in the early 1900’s, and the small business was first known as the Hiap Seng Sauce Factory (Yeo’s, 2015), producing soy sauces as its first products. The company was renamed as Yeo Hiap Seng when Mr Yeo’s friend pulled-out of their business enterprise (Hartono, 2012).
As the business grew, Mr Yeo relocated the business to Singapore in 1935 and set up a sauce factory locally. Their soy sauce business became very successful with local consumers and they ventured to offer other food and beverage items, going on to produce healthy, traditional drinks and other Asian delicacies like canned chicken curry for their consumers.
In the 1955’s, it was incorporated as a private company when its sales continued to scale greater heights, and in 1969, it became a public-listed company on the Singapore Stocks Exchange.
Yeo’s started its first business venture in Kuala Lumpur, Malaysia in 1975 and went on to expand to more than 10 countries over a span of 40 years (Yeo’s, 2015). In the mid-1990’s, YHS had also entered into the property business, which made up of almost 13% of the total company earnings (Hartono, 2012).
2. Strategic Analysis
1.1. External Environment Analysis
1.1.1. General Environment
It is important to analyse the strategies that a company uses as it can summarize the different areas that the company needs to focus on and at the same time, it can be used to evaluate how the company is carrying out its business, and how external environmental mega-trends and mega-forces will affect the company in the years to come. The PESTLE (Political,
