Assignment BE 2 Final

8/13/2019 Assignment BE 2 Final

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NAME OF STUDENT

REGISTRATION NO.

UNIT TITLE Unit 1: Business Environment

ASSIGNMENT TITLE Fundamental Analysis of the Global Golf Industry

ASSIGNMENT NO 2 of 2

NAME OF ASSESSOR ELBERT BRA! R" #I$AL

SUBMISSION DEADLINE $e%ember 1&' 2(1)

I' ************************** hereby %onfirm that this assi+nment is my o,n ,or- and not%o.ied or .la+iari/ed from any sour%e" I have referen%ed the sour%es from ,hi%h information isobtained by me for this assi+nment"

________________________________ _________________________

0i+nature $ate

----------------------------------------------------------------------------------------------------------------FOR OFFICIAL USE

ASSIGNMENT GRADE

1

DANANG UNIVERSITY OF ECONOMICS

BTEC HND BUSINESS (MANAGEMENT)Assignment Cover Sheet


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Unit outomes

OutomeEvi!ene "or

theriteri#

Fee!$#%Assessor&s

!eisionIntern#'

(eri"i#tion

LO)

Understandthe behaviour

ofor+anisations

in theirmar-et

environment

E.lain ho,mar-et

stru%turesdetermine the

.ri%in+ andout.ut

de%isions ofbusinesses

).*

Illustrate the,ay in ,hi%hmar-et for%es

sha.eor+anisational

res.onsesusin+ a ran+eof eam.les

).+

ud+e ho, thebusiness and

%ulturalenvironments

sha.e thebehaviour of a

sele%tedor+anisation

).)

,LO

Be able toassess thesi+nifi%an%eof the +lobalfa%tors that

sha.e

nationalbusinessa%tivities

$is%uss thesi+nifi%an%e ofinternationaltrade to U3business

or+anisations

.*

Analyse theim.a%t of

+lobal fa%torson U3

businessor+anisations

.+

Evaluate theim.a%t of

.oli%ies of theEuro.ean

Union on U3business

or+anisations

.)

Merit gr#!es #/#r!e! M* M+ M)

Distintion gr#!es #/#r!e! D* D+ D)

2


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OutomeEvi!ene "or

theriteri#

Fee!$#%Assessor&s

!eisionIntern#'

(eri"i#tion

0ro"essor&s #!!ition#' "ee!$#% #n! omments

)

Assessor&s N#me 1Sign#ture

E'$ert Br2#n R. (i!#' D#te

,Or#' "ee!$#% /#s #'so 3rovi!e!

STUDENT SIGNATURE D#te 4 4

N#me5 66666666666666666666666666666666666666666666666

FOR OFFICIAL USE ONLY:

Verified : YES NO

I( N#me Sign#ture D#te


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The Go'" E7ui3ment #n! Consum#$'es5 A G'o$#' Str#tegiRe3ort

4ublished by Resear%h and 5ar-ets' uly 2(1)

Golf industry ,itnessed tremendous develo.ment durin+ the .ast several de%ades

and %ontinues to evolve" In%reased a%%essibility and affordability has dra,n

si+nifi%ant number of +olf .arti%i.ants over the years and has attra%ted ,ider

demo+ra.hi% %lusters beyond 6ust the u..er e%helon" 4arti%i.ation of ,omen and

individuals in the middle7in%ome +rou. has in%reased si+nifi%antly and re.resents a

-ey o..ortunity for +ro,th in the future" 8hile many .er%eive +olf as a leisure

.ursuit' an in%reasin+ number of individuals also see +olf as a re9uisite business s-ill

and a s.ort that serves as an effe%tive business develo.ment and so%ial net,or-in+

tool" In develo.in+ nations' Golf is still %onsidered a nas%ent industry ,ith lu%rative

.otential for future +ro,th' +iven the levels of e%onomi% +ro,th and tourism

develo.ment" Althou+h .o.ularity of +olf has risen in re%ent de%ades' +olf

.arti%i.ation has been relatively slu++ish sin%e the year 2(((' o,in+ to the amount

of time re9uired to .lay the s.ort" To en%oura+e .arti%i.ation' various efforts are

bein+ made' ,ith the ma6or one bein+ the introdu%tion of shorter formats of the

+ame' ,hi%h re9uires relatively lesser amount of time"

$emand in the Golf E9ui.ment and onsumables mar-et lar+ely de.ends on the

e%onomi% health of a nation" 0ales are hu+ely di%tated by +olf .arti%i.ation rates'

,hi%h in turn are %ontrolled by ma%ro7e%onomi% fa%tors su%h as .er7%a.ita in%ome

and dis%retionary %onsumer s.endin+" The mar-et for +olf balls is %hara%teri/ed by

.rodu%t over%ro,din+' as a result of the influ of +olf %lub manufa%turers"

The 2((;72((< e%onomi% re%ession resulted in mar-ed de%lines in sales of +olf

e9ui.ment and %onsumables" $emand for .rodu%ts li-e +olf %lubs' balls' a..arel and

foot,ear %ame under severe .ressure' as .arti%i.ation rates of the s.ort d,indled

due to lo, in%ome levels and la%- of leisure time amon+ +olfers" Golfers' .arti%ularly

%or.orate +olfers and those ,ho .lay the s.ort as a hobby o.ted for less e.ensive

a%tivities and leisure .ursuits" Golf %lub membershi. d,indled as +olfers %ut ba%- on

ty.i%ally hi+h annual membershi. fees" 8hile the fre9uen%y of .layin+ the s.ortredu%ed drasti%ally' the number of rounds .layed also de%lined dramati%ally a%ross

=


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the board' thus lo,erin+ the need for .ur%hasin+ ne, e9ui.ment" >o,ever' the

mar-et re%overed and even .osted en%oura+in+ +ro,th in revenue in the year 2(1("

Golf is emer+in+ to be a +lobal +ame' ,ith ne, mar-ets develo.in+ in Asia' the

5iddle East' Eastern Euro.e and Latin Ameri%a" 8hile the +ame is +ainin+

in%reasin+ .o.ularity amon+ the affluent' it is also ,itnessin+ risin+ u.ta-e amon+

the middle %lass' .arti%ularly in hina" Gro,in+ urbani/ation is also au+urin+ ,ell for

the s.ort' as it is drivin+ develo.ment of +olf %ourses a%ross the re+ions" Unli-e in

the 8estern re+ions' the youn+er +eneration is emer+in+ to be ma6or .arti%i.ants

driven by the .er%e.tion of the s.ort bein+ a fitness routine"

Golf tourism emer+ed into a boomin+ industry by itself and is .rovidin+ si+nifi%ant

im.etus to the mar-et for +olf e9ui.ment and %onsumables" A.art from a +radual

%han+e in demo+ra.hi% %om.osition' a shift is also bein+ ,itnessed in terms of the

?.referred destinations@' as emer+in+ lo%ations are +radually +ainin+ eminen%e over

traditional lo%ations"

As stated by the ne, mar-et resear%h re.ort on Golf E9ui.ment and onsumables'

the United 0tates %ontinues to be the lar+est mar-et ,orld,ide" Asia74a%ifi% is

.ro6e%ted to emer+e as the fastest +ro,in+ mar-et ,ith a AGR of )" over the

analysis .eriod" Gro,th in the re+ion is led by risin+ .arti%i.ation due to in%reasin+

standard of livin+' risin+ .ur%hasin+ .o,er and +reater ,illin+ness amon+ the

.o.ulation to s.end on leisure a%tivities"

SCENARIO *5 CASE ANAL8SIS

ou are ,or-in+ for a +olf e9ui.ment distribution %om.any based in U3 and

as .art of their e.ansion they are loo-in+ at Asia as a bi+ .otential mar-et to

.enetrate" ou ,ere tas-ed by the %om.any to do some advan%ed resear%h in any

Asian %ountry ,hi%h you thin- ,ill yield the hi+hest .otential" In your analysis' your

su.eriors as-ed you to re.ort aboutC

The mar-et stru%tures for +olf e9ui.ment in your %hosen %ountry as ,ell as

des%ri.tion on ho, this stru%ture determines the .ri%in+ and out.ut D)"1

&


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An illustration of the ,ay in ,hi%h mar-et for%es sha.e or+anisational

res.onses .arti%ularly in the +olf e9ui.ment industry D)"2

An analysis that 6ud+es ho, the business and %ultural environments sha.e

the behaviour of a sele%ted or+anisation D)")

SCENARIO +5 CLASS 0RESENTATION ABOUT GLOBALISATION AND T9EEURO0EAN UNION

8ith stri%t referen%e to the %om.iled materials in the assi+nment' you are to .erforma %lass .resentation fo%usin+ on the si+nifi%an%e of +lobal fa%tors in sha.in+business a%tivities in the U3" ou are to .resent no more th#n ): s'i!es.

0.e%ifi%ally' you must be able toC

$is%uss the si+nifi%an%e of international trade to U3 business or+anisations D="1

Analyse the im.a%t of +lobal fa%tors on U3 business or+anisations D="2

Evaluate the im.a%t of .oli%ies of the Euro.ean Union on U3 business or+anisationsD=")

GRADING

0#ss is a%hieved by meetin+ all the re9uirements defined in the assessment

%riteria"

Merit Identify and a..ly strate+ies to find a..ro.riate solutions" D51

haracteristics / Possible Evidence An effe%tive a..roa%h to study andresear%h used to investi+ate behaviour of or+ani/ations and the mar-etenvironment affe%tin+ or+anisations has been made"

0ele%t and a..ly a..ro.riate te%hni9ues" D52

Characteristics / 4ossibleEvidence 0tudents revie,ed the relevant theoriesthat are a..lied to the +iven situation" Ran+e of information sour%es usedrelated to set tas-s"

4resent and %ommuni%ate a..ro.riate findin+s D5)

hara%teristi%s/ Possible EvidenceAn a..ro.riate stru%ture and a..roa%hhave been used to .re.are a re.ort" 4resent data usin+ a ran+e of methodse"+" tables' dia+rammati%al and +ra.hi%al forms"

Distintion Use %riti%al refle%tion to evaluate o,n ,or- and 6ustify valid %on%lusions D$1

Characteristics / Possible Evidence reativity has been used to+enerate and 6ustify valid %omments based on investi+ation of thebehavior of or+ani/ations and their mar-et environment"


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Ta-e res.onsibility for mana+in+ and or+anisin+ a%tivities D$2

Characteristics / Possible Evidence $emonstrates substantial investi+ationshave .lanned' mana+ed and or+ani/ed for the +iven or+ani/ation mar-etstru%ture .ra%ti%es' %om.etitive strate+ies em.loyed and also im.a%t of.oli%ies"

$emonstrate %onver+ent' lateral and %reative thin-in+ D$)

Characteristics / Possible Evidence An innovative and %reative thou+ht hasbeen used to investi+ate or+anisations ,ithin its environment at lo%al' nationaland +lobal level and the im.a%t of +overnment .oli%ies as ,ell as inside theEuro.ean Union"

0RESENTATION

1" The assi+nment should have a %over .a+e that in%ludes the assi+nment title'assi+nment number' %ourse title' module title' Le%turertutor name andstudentHs name" Atta%h all the .a+es of assi+nment brief%over sheet ,ith yourre.ort and leave them blan- for offi%ial use"

2" Ensure that authenti%ity de%laration has been si+ned"

)" ontent sheet ,ith a list of all headin+s and .a+e numbers"

=" A fully ty.ed u. .rofessionally .resented re.ort do%ument" Use 12 .oint Arialor Times !e, Roman s%ri.t"

&" our assi+nment should be ,ord7.ro%essed and should not e%eed )'(((,ords in len+th"

" Use the >arvard referen%in+ system"

;" Ehibitsa..endi%es are outside this limit"

" The assi+nment should be not %ontain a biblio+ra.hy but should %ontain alist of any referen%es used in the assi+nment"

NOTES TO STUDENTS FOR SUMMISSION

he%- %arefully the submission date and the instru%tions +iven ,ith the

assi+nment" Late assi+nments ,ill not be a%%e.ted"

Ensure that you +ive yourself enou+h time to %om.lete the assi+nment by the

due date"

;


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$o not leave thin+s su%h as .rintin+ to the last minute e%uses of this nature

,ill not be a%%e.ted for failure to hand7in the ,or- on time"

ou must ta-e res.onsibility for mana+in+ your o,n time effe%tively"

If you are unable to hand in your assi+nment on time and have valid reasons

su%h as illness' you may a..ly Din ,ritin+ for an etension"

Failure to a%hieve a 4A00 +rade ,ill results in a REFERRAL +rade bein+

+iven"

Ta-e +reat %are that if you use other .eo.leHs ,or- or ideas in your

assi+nment' you .ro.erly referen%e them in your tet and any biblio+ra.hy"

NOTE5 I" 2ou #re #ught 3'#gi#ri;ing< 2ou ou'! h#ve 2our gr#!e

re!ue! to ;ero< or #t /orst< 2ou ou'! $e e='u!e! "rom the ourse.


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Table of Contents

DANANG UNIVERSITY OF ECONOMICS !"TEC #ND "USINESS $MANAGEMENT%!

E&iden'e for t(e 'riteria)FOR OFFICIA* USE ON*Y: +

IV Na,e+Si-nat.re+

Date+T(e Golf E/.i0,ent and Cons.,ables: A Global Strate-i' Re0ort1

2ass is a'(ie&ed b3 ,eetin- all t(e re/.ire,ents defined in t(e assess,ent 'riteria4Merit Identif3 and a00l3 strate-ies to find a00ro0riate sol.tions $M!% 4

Distin'tion Use 'riti'al refle'tion to e&al.ate o5n 5or6 and 7.stif3 &alid 'on'l.sions $D!%4Ta6e res0onsibilit3 for ,ana-in- and or-anisin- a'ti&ities $D)%8

De,onstrate 'on&er-ent9 lateral and 'reati&e t(in6in- $D+% 8NOTES TO STUDENTS for s.,,ission8

Table of Contents

+! Mar6et str.'t.re deter,ine t(e 0ri'e and o.t0.t de'ision of b.siness!;

+) Mar6et for'es affe'ts -olf e/.i0,ent ind.str3!+++ T(e b.siness and '.lt.ral en&iron,ent s(a0e t(e be(a&ior of or-ani


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3.1 Market tr!"t!re #eter$%&e t'e r%"e a !t!t #e"%%& * +!%&e.

No5ada3s9 -olf is a ,.lti>billion dollar ind.str3 and it de&elo0ed in ?estern 'o.ntries in

,an3 de'ades #o5e&er9 t(e de&elo0,ent of Asia@s e'ono,3 (el0 t(e, be'o,e t(e bi-0otential ,ar6et for in&est,ent In de&elo0in- 'o.ntries9 t(e n.,ber of -olfer in'reased &er3

/.i'6l3 t(at ,ean it is -ood o00ort.nit3 for ,an3 -olf 'o,0anies enter t(e ,ar6et T(e

de&elo0,ent of -olf e/.i0,ent ind.str3 is de0end on t(e (ealt( of -olf ind.str3 Asia

'o.ntries re,ain t(e best destination for in&est,ent and b.siness 5it( ,ore ad&anta-es

Toda39 e'ono,i' is so (ard for b.siness so 0eo0le need to .nderstand t(e str.'t.re of ,ar6et

to deter,ine t(e 0ri'e and ,a6e t(e de'ision on t(e ,ar6et T(ere are fo.r different t30es of

,ar6et str.'t.res in e'ono,i'

In 'ase of -lobal -olf e/.i0,ent ind.str39 t(e3 are ,ono0olisti' 'o,0etitor T(e ind.str3

(a&e a lar-e n.,ber of fir, sell si,ilar b.t not identi'al 0rod.'ts Ea'( 'o,0an3 sell

different 0rod.'t s.'( as dri&er9 foot5ear9 ba- and so on to s.00ort -olfer T(e 0rod.'t of

fir, in ,ono0olisti' 'o,0etitor ,ar6et are 'lose s.bstit.tes for one anot(er T(ere is

freedo, to enter or lea&e t(e ind.str3 T(e 5orld5ide ,ar6et for -olf e/.i0,ent is (i-(l3

'o,0etiti&e and etre,e d3na,i'

C(ara'teristi's 2erfe't

'o,0etition

Mono0olisti'

'o,0etitor

Oli-o0ol3 Mono0ol3

N.,ber of fir, Ver3 ,an3 Man3 A fe5 Fe5

"arrier to entr3

and eit fro,

ind.str3

No barrier to

entr3 and eit

Minor barrier Considerable

barrier

Etre,e -reat

barrier

T30e of

0rod.'t

#o,o-eneo.s Differentiated Sa,e or

different

Uni/.e9 no

s.bstit.te

1(


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Be3

'(ara'teristi's

No one 'an

infl.en'e 0ri'e

Si,ilar 0rod.'t

b.t not identi'al

M.t.al

interde0enden'e

Onl3 one fir,

Ta+,e 1. T'e #%**ere&t * *!r t-e * $arket tr!"t!re.

In t(e ,ono0olisti' 'o,0etitor9 ea'( fir, ,a6e de'ision 0ri'es and o.t0.t9 based on t(e0rod.'t9 'ost of 0rod.'tion T(e 0ri'es and o.t0.t 'an be identified .se t(e total re&en.e9

,ar-inal re&en.e $MR% and ,ar-inal 'ost $MC%

T(e 0rofit or loss of fir, 'an be 6no5n b3 'o,0arin- t(e 0ri'e and a&era-e total 'ost

If 2 ATC9 t(e fir, is earnin- t(e 0rofit

If 2 ATC9 t(e fir, is earnin- a loss

If 2 ATC9 t(e fir, is earnin-


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F%!re 0. L&/r!& r#!"t%&

In t(e lon->r.n 0rod.'tion9 t(e fir, 5ill fa'e t(e '(allen-es fro, ne5 'o,0etitor T(e

/.antit3 of 0rod.'t 5ill rise t(at 'a.ses t(e fir,@s de,and '.r&e to s(ift left T(e res.lt is

0ri'e in t(e ,ar6et 5ill '(ea0er In addition9 t(e entr3 barrier is lo5 t(at ,ean ne5 fir, 5ill

enter and in'reases t(e 'o,0etiti&e in ,ar6et T(erefore9 t(e 0rofit of fir, 5ill de'rease

Finall39 t(e -oods are si,ilar eno.-( to ens.re t(at 'o,0etition al5a3s re,ain (i-(

In 'on'l.sion9 o&er t(e s(ort>r.n9 t(e fir, 'an -ain abnor,al 0rofit b.t in t(e lon->r.n ne5

fir, enter and to 'o,0ete t(e fir, need to ,a6e 0rod.'t '(ea0er In bot( 'ondition9 all fa'tor

'annot e/.al

12


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3.0 Market *r"e a**e"t ,* e!%$e&t %!tr-.

A 'o,0an3 5ill (a&e 'o,0etiti&e o&er t(an ri&al b3 (a&in- lar-e 'a0a'it39 ,ar6et s(are or

stron- s.00lier A''ordin- to Mi'(ael 2orter9 (e resear'(es fi&e basi' 'o,0etiti&e for'es t(at

'an infl.en'e t(e 'o,0etition in an ind.str3 T(is tool is ,ainl3 .se to anal3


14/32

T'e t'reat * &e5 e&tra&t % ,5. It refer t(e diffi'.lt for ne5 'o,0etitor to enter ne5

ind.str3 In t(e 'ase of -olf e/.i0,ent ind.str39 it so diffi'.lt to enter t(e ind.str3 First9 t(e

ne5 entrants s(o.ld (a&e bi- in&est,ent and ta6e a lot of ti,e to b.ild t(e i,a-e of brand In

addition9 t(e '.rrent brands also &er3 stron- and '.sto,er 7.st '(oose 0rod.'t fro, t(e

0o0.lar 'o,0an3 Ot(er t(in-s is t(e 'ost of ,ar6etin- is (i-( s.'( as ad&ertise,ent and

endorse,ent 'ontra't 5it( 0rofessional -olfer "esides9 t(e -olf e/.i0,ent ind.str3 eno.-(

0rofitable to attra't ne5 'o,0etitor In re'ent 3ears9 t(e re&en.e of ind.str3 de'line be'a.se

t(e effe't of -lobal e'ono,i' do5n

T'e t'reat * !+t%t!te r#!"t % '%' Golf e/.i0,ent ,an.fa't.re ,.st be5are of t(e

t(reat of s.bstit.te T(e reason is -olf al5a3s a l..r3 -a,e for ri'(9 so 0eo0le (a&e ,an3

ot(er s0ort or -a,es to 0la3 Co,0anies 5ill fi-(t for t(eir s(are of a relati&el3 s,all tar-et

,ar6et #en'e9 t(e fa'tor 5ill affe'ts t(e -olf e/.i0,ent ind.str3 t(ro.-( 0ri'e 'o,0etition

In addition9 t(e ,ain s.bstit.te 0rod.'ts is 'o.nterfeit 0rod.'t fro, C(ina 5it( lo5 0ri'es It

is t(e bi- ris6 for -olf e/.i0,ent ind.str3 E'e0t t(e 0rofessional -olfer 5(o (a&e

6no5led-e9 it is so diffi'.lt for ne5 0la3er realiin'o,e '.sto,er

also (a&e bar-ain 0o5er be'a.se t(e s5it'(in- 'ost lo5 bet5een ri&al 0rod.'ts

C$et%t%4e R%4a,r- % '%'. T(e ind.str3 (a&e lar-e s'ales9 finan'ed 5ell and ,an3

'o,0etitor al5a3s tr3 to -ain ,ar6et s(are in an ind.str3 T(e a&era-e '3'le life of -olf

e/.i0,ent is less t(an t5o 3ears so all fir, 'an sold older 0rod.'t in ne5 ,ar6et At t(e

0resent9 t(e -lobal -olf e/.i0,ent ind.str3 (a&e so,e ,a7or brand in'l.des Calla5a3 Golf9

Ta3lorMade9 2in-9 Titleist9 Cobra Golf and Cle&eland All of t(e, donated ,ore t(an ; of

1=


15/32

t(e 5orld ,ar6et T(e -olf e/.i0,ent ,an.fa't.re ,.st de&elo0 and introd.'tion ne5

0rod.'t to en'o.ra-e 'ons.,er to b.3 ne5 to i,0ro&e t(eir e0erien'e Ea'( ,an.fa't.rer

(a&e a lar-e n.,ber of lo3al '.sto,er so t(e ,ission to 6ee0 t(e, is also i,0ortant *o3al

'.sto,er is al,ost dire'tor9 0rofessional -olfer or -o&ern,ent,en t(at 5(3 t(e3 'an 0a3

,ore ,one3 T(e 'o,0etiti&e in t(is '.sto,er area al5a3s &er3 (i-(

3.3 T'e +!%&e a "!,t!ra, e&4%r&$e&t 'ae t'e +e'a4%r *

ra&%7at%&.

T(e Ma'ro en&iron,ent anal3sis in'l.des si fa'tors are 2oliti'al9 E'ono,i'9 So'ial9

Te'(nolo-i'al9 En&iron,ental and *e-al In ot(er 5ords9 it 'alled be 2ESTE* anal3sis

2,%t%"a, e&4%r&$e&t. T(e 5orld trade en'o.ra-ed free ,ar6et bet5een nations #o5e&er9

so,e 'o.ntries still (a&e trade barrier to 0rote't o5n e'ono,3 It is t(e 0roble, for forei-n

'o,0an3 enter t(e do,esti' ,ar6et #o5e&er9 5it( stron- effort fro, -o&ern,ent and

?orld Trade Or-ani


16/32

T(e fi-.re s(o5 t(e n.,ber of 5ealt(3 indi&id.al in Asia are in'reasin- It is a -ood

o00ort.nit3

E"&$%" e&4%r&$e&t. Raisin- t(e in'o,e and standard of li&in- in Asia de&elo0in-

'o.ntries is -reat o00ort.nit3 for -olf e/.i0,ent ind.str3 'an enter ,ar6et Alt(o.-(9 t(e

5orld e'ono,3 is re'o&erin- t(e n.,ber of ,illion and billion in'reased so t(e3 5ill be

attra'ted t(e l..r3 -a,e as -olf T(e -a,e is no5 0o0.lar ,ore in Asia 'o.ntries T(e

de&elo0,ent of Asia e'ono,3 is -ood ne5s for forei-n in&est,ent T(e table belo5 s(o5

t(e -ro5t( of -olf 'l.b and -olfer in so,e Asia 'o.ntries

N.,ber Co.ntries N.,ber of -olf 'l.b N.,ber of -olfer

! Mala3sia )+; )=;;;;

) 2(ili00ines !;; 8;;;;

+ T(ailand )=4 =;;;;;1 Indonesia !=! !;;;;;

= Sin-a0ore !1 ==;;;

4 Vietna, ! !;;;;

Ta+,e 0. T'e &!$+er * ,* ",!+ a ,*er %& A%a& "!&tr%e

(S!r"e: A%a G,* Fe#erat%&)

S"%"!,t!ra, e&4%r&$e&t. T(e fa'tor in&ol&es lifest3les trend9 de,and of 'ons.,er T(e

ri'( 5ant to -et (ealt(ier and rela so t(e3 5ill '(oose -olf #o5e&er9 t(e effe't of finan'ial

'risis ,a6es 0eo0le (a&e less leis.re ti,e to 0la3 s0ort and do o.tside a'ti&ities T(is fa'tor

5ill ,a6e t(e n.,ber of -olfer 'o,e to -olf 'l.b de'rease in re'ent 3ears T(ere are ,an3

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barriers ,a6e -olf does not 0o0.lar in Vietna, First9 it too diffi'.lt to 0la3 and ta6e a lon-

ti,e to be ,aster Ot(er t(in-s9 -olf is so e0ensi&e and 0eo0le need to s0end ,ore ,one3

In addition9 t(e n.,ber of fe,ale and 7.nior -olfer are in'reasin- T(is is -reat o00ort.nit3

for -olf e/.i0,ent ind.str3 to e0and t(e s'ale of b.siness "eside t(e 0ositi&e fa'tors9 t(e

Asia ri'( 5ant to en7o3 a 5ealt(3 life 5it( e&er3t(in- t(e ,ost e0ensi&e t(at 5(3 -olf

be'o,e t(e ideal -a,e for t(e,

Te"'&,%"a, e&4%r&$e&t. Toda39 t(e -ro5t( in t(e .se of internet is ra0idl3 T(is is t(e

reason 5(3 e"a39 A,a


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Assignment BE 2 Final

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Transcript of Assignment BE 2 Final