Cover Image

Orchid Farming As A Potential Business Venture

This business field project is intended to study the feasibility of the orchid farming industry as a business venture. The objectives covers various aspects such as the status of the industry, the potential of domestic and export markets, the key success factors, challenges facing the industry and...

Full description

Saved in:
Bibliographic Details
Main Author: Zainal Abidin, Yahaya
Format: Thesis
Language:English
English
Published: 2000
Subjects:
SB Plant culture
Online Access:https://etd.uum.edu.my/229/1/ZAINAL_ABIDIN_BIN_YAHYA_-_Orchid_farming_as_a_potential_business_venture.pdf
https://etd.uum.edu.my/229/2/1.ZAINAL_ABIDIN_BIN_YAHYA_-_Orchid_farming_as_a_potential_business_venture.pdf
https://etd.uum.edu.my/229/
Tags: Add Tag
No Tags, Be the first to tag this record!
id my.uum.etd.229
record_format eprints
spelling my.uum.etd.2292022-06-07T04:51:18Z https://etd.uum.edu.my/229/ Orchid Farming As A Potential Business Venture Zainal Abidin, Yahaya SB Plant culture This business field project is intended to study the feasibility of the orchid farming industry as a business venture. The objectives covers various aspects such as the status of the industry, the potential of domestic and export markets, the key success factors, challenges facing the industry and a financial analysis of the project. The methodology of the study includes collecting information through interviews with selected respondents and secondary data obtained from researches by MARDI, FAMA, Agricultural Department and Statistic Department. The orchid industry had initially begun since 1960, but only started to create an impression during the 1980’s. Although various incentives have been introduced, the industry’s growth rate is still considered sluggish. The domestic market has great potential with a year round demand and there is also a very wide export market. For the success of the project, the entrepreneur has to tackle the key success factors. Among these are to develop a good networking channel, the selection of the variety has to be suited to the target market, a product with high quality, technical expertise and experience, effective farm management, the ability to maintain production costs at manageable levels and finally the need to plan with a fair degree of accuracy the supply and demand of the market. While the challenges facing the industry include the high costs of input materials, competition from Thailand and Singapore, the necessity for substantial capital investment, lack of up to date information regarding the international market, the country’s export practices which is more individualist, an efficient air transport system, slow development of new orchid varieties, foreign labor problems and a lack of promotional activities. The financial analysis based on a 3 acres orchid farm, shows that the project is considered to be very much viable. The recommendations put forward to further develop the industry are along the lines of a reduction in the costs of production. Assistance could be provided to businesses for production of seedlings, a slackening of the import duties and restrictions on imported goods, an increase in efficiency and productivity, increase technological knowledge and effective management. Other measures that should be looked at are to increase competitiveness and efficiency in marketing of the products and to further streamline incentives and supporting activities. As conclusion, the orchid cultivation industry has the potential to become another export product that would further contribute to Malaysia’s economy. 2000 Thesis NonPeerReviewed text en https://etd.uum.edu.my/229/1/ZAINAL_ABIDIN_BIN_YAHYA_-_Orchid_farming_as_a_potential_business_venture.pdf text en https://etd.uum.edu.my/229/2/1.ZAINAL_ABIDIN_BIN_YAHYA_-_Orchid_farming_as_a_potential_business_venture.pdf Zainal Abidin, Yahaya (2000) Orchid Farming As A Potential Business Venture. Masters thesis, Universiti Utara Malaysia.
institution Universiti Utara Malaysia
building UUM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Utara Malaysia
content_source UUM Electronic Theses
url_provider http://etd.uum.edu.my/
language English
English
topic SB Plant culture
spellingShingle SB Plant culture
Zainal Abidin, Yahaya
Orchid Farming As A Potential Business Venture
description This business field project is intended to study the feasibility of the orchid farming industry as a business venture. The objectives covers various aspects such as the status of the industry, the potential of domestic and export markets, the key success factors, challenges facing the industry and a financial analysis of the project. The methodology of the study includes collecting information through interviews with selected respondents and secondary data obtained from researches by MARDI, FAMA, Agricultural Department and Statistic Department. The orchid industry had initially begun since 1960, but only started to create an impression during the 1980’s. Although various incentives have been introduced, the industry’s growth rate is still considered sluggish. The domestic market has great potential with a year round demand and there is also a very wide export market. For the success of the project, the entrepreneur has to tackle the key success factors. Among these are to develop a good networking channel, the selection of the variety has to be suited to the target market, a product with high quality, technical expertise and experience, effective farm management, the ability to maintain production costs at manageable levels and finally the need to plan with a fair degree of accuracy the supply and demand of the market. While the challenges facing the industry include the high costs of input materials, competition from Thailand and Singapore, the necessity for substantial capital investment, lack of up to date information regarding the international market, the country’s export practices which is more individualist, an efficient air transport system, slow development of new orchid varieties, foreign labor problems and a lack of promotional activities. The financial analysis based on a 3 acres orchid farm, shows that the project is considered to be very much viable. The recommendations put forward to further develop the industry are along the lines of a reduction in the costs of production. Assistance could be provided to businesses for production of seedlings, a slackening of the import duties and restrictions on imported goods, an increase in efficiency and productivity, increase technological knowledge and effective management. Other measures that should be looked at are to increase competitiveness and efficiency in marketing of the products and to further streamline incentives and supporting activities. As conclusion, the orchid cultivation industry has the potential to become another export product that would further contribute to Malaysia’s economy.
format Thesis
author Zainal Abidin, Yahaya
author_facet Zainal Abidin, Yahaya
author_sort Zainal Abidin, Yahaya
title Orchid Farming As A Potential Business Venture
title_short Orchid Farming As A Potential Business Venture
title_full Orchid Farming As A Potential Business Venture
title_fullStr Orchid Farming As A Potential Business Venture
title_full_unstemmed Orchid Farming As A Potential Business Venture
title_sort orchid farming as a potential business venture
publishDate 2000
url https://etd.uum.edu.my/229/1/ZAINAL_ABIDIN_BIN_YAHYA_-_Orchid_farming_as_a_potential_business_venture.pdf
https://etd.uum.edu.my/229/2/1.ZAINAL_ABIDIN_BIN_YAHYA_-_Orchid_farming_as_a_potential_business_venture.pdf
https://etd.uum.edu.my/229/
_version_ 1735388984236834816
score 13.211869

Similar Items