TABLE OF CONTENTS

1.Introduction ................................................................................................................................. 2
1.1 Background of the study: ...................................................................................................... 4
1.2 Objective of this report ......................................................................................................... 4
1.3 Methodology ......................................................................................................................... 5
1.4 Limitation .............................................................................................................................. 5
1.5 Contribution of the study: ..................................................................................................... 6
2. SWOT Analysis of square food & beverage (SFBL) ..................................................................... 7
2.1 WHAT IS SWOT ...................................................................................................................... 7
2.2 External Analysis of SFBLs ..................................................................................................... 8
2.2.1 HOW STRONG ARE THE THE INDUSTRY’S COMPETITIVE FORCES? ............................ 8
2.2.2 WHAT ARE THE DRIVING FORCES IN THE INDUSTRY, AND WHAT IMPACT WILL
THEY HAVE ON COMPETITIVE INTENSITY AND INDUSTRY PROFITABILITY? – THE
DRIVING FORCES ................................................................................................................ 11
2.2.3 WHAT MARKET POSITIONS OF INDUSTRY RIVALS OCCUPY – WHO IS STRONGLY
POSITIONED AND WHO IS NOT? – COMPETITOR ANALYSIS .............................................. 12
2.2.4 WHAT STRATEGIC MOVES ARE RIVALS LIKELY TO MAKE NEXT? .............................. 12
2.2.5 WHAT ARE THE INDUSTRY KEY SUCCESS FACTORS? ................................................ 13
2.2.6 IS THE INDUSTRY OUTLOOK CONDUCIVE TO GOOD PROFITABILITY? ...................... 15
2.3 EVALUATING A COMPANY’S RESOURCES, CAPABILITIES & COMPETITIVENESS
(INTERNAL ENVIRONMENTAL ANALYSIS) ................................................................................ 15
2.3.1 HOW WELL IS THE COMPANY’S PRESENT STRATEGY WORKING? ........................... 15
2.3.2 WHAT ARE SQUARE LTD.’S COMPETITIVELY IMPORTANT RESOURCES AND
CAPABILITIES? WILL THEY GIVE THE COMPANY A LASTING COMPETITIVE ADVANTAGE
OVER RIVAL? ...................................................................................................................... 16
2.3.3 WHAT ARE THE CO’S STRENGTHS AND WEAKNESSES IN RELATION TO THE
MARKET OPPORTUNITIES AND EXTERNAL THREATS? ....................................................... 17
SWOT Analysis............................................................................................................. 17
2.3.4 HOW DO SFBL’S VALUE CHAIN ACTIVITIES IMPACT ITS COST STRUCTURE &
CUSTOMER VALUE PROPOSITION? ................................................................................... 19
2.3.5 IS THE CO COMPETITIVELY STRONGER OR WEAKER THAN KEY RIVALS? ................. 20

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 2.3.6 WHAT STRATEGIC ISSUES & PROBLEMS MERIT FRONT-BURNER MANAGERIAL
ATTENTION? ...................................................................................................................... 20
3. CONCLUSION ............................................................................................................................. 21
REFERENCES .................................................................................................................................. 22

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1. INTRODUCTION

In this rising economic era of our beloved motherland, the lifestyle of its residents are

being developed through the consumption of better products. According to Business

Insider, Bangladesh is likely to be a new ‘Asian Tiger’. The Bangladesh economy

has been one of the top performers in Asia over the past decade, averaging annual

growth of more than 6% (Garber, 2017).

There are now so many consumer brands to meet the need of food & beverages of

Bangladesh people. Square Food & Beverage Limited shortly SFBL is certainly &

successfully one of them. SFBL is a sister concern of Square Group, is one of the

largest conglomerates Square Group which has developed intensely diverse national

business in the field of Pharmaceuticals, Toiletries, Garments, Textile, Information

Technology, Health Products, Food Products, Hospital, etc. (Sfbl.com.bd, n.d.).

Square Food & Beverage Limited has four different brands to serve the best quality

food & bverages in the market namely SFBL, Ruchi, Chashi and Chopstick. SFBL is

the prime brand of the company. The product range of SFBL is enriched with basic

spices, ready mixes, cereals & pulses based products and edible oil. On the other

hand, Ruchi is providing ready-to-eat snacks like Chanachur, Fried Dal, Potato

Crackers, Muri, Jhalmuri, Sauce, Ketchup, Jhuribhaja, Chutney and Pickles. Chashi

is the landmark of those products which are collected directly from the farmers

having the indigenous essence and freshness. Last bt not the least, Chopstick,

which is a tasty, nutritious and quality instant noodles in the market. Chopstick

Instant Noodles is making a difference in the market

as the only tasting salt free noodles in the category which is specially developed

with the health concern of children. Within a short period of time, it has been able

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to create a durable position in the market through its quality products and

customer services. (Sfbl.com.bd, n.d.).

1.1 BACKGROUND OF THE STUDY:

In this report, I will be doing the global strategy, factors that are driving industry

change, industry rivals positioned in the market, industry’s Key Success Factor,

value chain activities, comprehensive evaluation of a company’s competitive

situation, corporate level strategies, business level strategies, Five Generic

Competitive Strategies including - Low-Cost provider Strategy Broad Differentiation

Strategy, Focused or Market Niche Strategies, Best-Cost Provider Strategy for

Square Food & Beverage Limited.

1.2 OBJECTIVE OF THIS REPORT

Strategies are especially important because they are tools for active, self-directed

involvement, which is essential for developing communicative competence. To

analyze the company’s current strategy and to suggest improvements that is

required for progression. Analyze the external and internal factors of the companies

to find out the strength, weakness, opportunities and threats. Later, we do the Vrin

test and identify Strategic changes that can be made (Savaşan, 2014).The ultimate

objective of the study is to gain real life exposure in Food & beverages sector and to

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get a clear idea about strategic management and positioning strategy as well

as financial condition of SFBL.

1.3 METHODOLOGY

I have focused more on the secondary research strategies for doing this term

project. I have talked with the consumers I know from my friends & family to know

about Square Food & Beverage Limited’s perception. Also I have contacted with a

executive of Square Food & Beverage Limited to know about the brief of company’s

strategy. For in depth data, we collected our data from secondary sources such as

different papers, website and educational journals.

1.4 LIMITATION

Firstly, the respondents I have done interview & discussion was only male & age

from 30-35. So it’s a limitation for my project. Moreover, most of the renowned

organizations do not disclose their internal information to others. It is obvious that

they want to keep their information secrete and Square also wants the same. Most of

the time, I was facing some problem of data availability. In this case, it’s a bit difficult

to make my report informatics but as I was involved in my responsibilities at the

company, I got some information that was enough to make my report relevant.

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1.5 CONTRIBUTION OF THE STUDY:

Doing the project on such a promising & successfully established company was

certainly a matter of memorable things for me. I have learn how to measure

competitor analysis, strategic group mapping and the strategic moves that have

huge impact for taking right decision about competitors and overall sustainability of

the organization. By applying the five forces model we learn how the bargaining

power of suppliers and customers impact the organization. I also learn how threat of

substitute product, new entrance and intensity of rivalry affects the business

organization to handle these problems. I also learn how to measure the SWOT

analysis and impact of value chain activities on cost structure and customer value

proposition, competitive strength analysis and the issues and problem that managers

should take account when making strategy for the next years. I have also learn the

foods and beverage industry driving forces that have impact on the overall success

and failure of these three firms.

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2. SWOT ANALYSIS OF SQUARE FOOD & BEVERAGE (SFBL)

2.1 WHAT IS SWOT

SWOT, a word which literally means a lot. It’s a vital tools for the analysis of strategic

decision. SWOT stands for strengths, weaknesses, opportunities, and threats. It’s an

analysis is a framework used to evaluate a company's competitive position and to

develop strategic planning. SWOT analysis assesses internal and external factors,

as well as current and future potential (Grant, 2019).

The primary objective of a SWOT analysis is to help organizations develop a full

awareness of all the factors involved in making a business decision. A SWOT

analysis focuses on the four elements of the acronym, allowing companies to identify

the forces influencing a strategy, action or initiative. Knowing these positive and

negative elements can help companies more effectively communicate what parts of

a plan need to be recognized. Strengths (S) and weaknesses (W) refer to internal

factors, which are the resources and experience readily available to you.to the

company. External forces influence and affect every company, organization and

individual. Whether these factors are connected directly or indirectly to an

opportunity (O) or threat (T), it is important to note and document each one

(Schooley, 2019).

In our report, we have designed the external & internal analysis to develop the

SOWT for Square Food & Beverage Limited. For external analysis, we have gone

through the factors outside SFBl & for internal analysis, we have gone through the

factors outside Square Food & Beverage Limited.

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2.2 EXTERNAL ANALYSIS (INDUSTRY AND COMPETITIVE ANALYSIS)
OF SFBL

Square Foods and Beverage has achieved number of notes worthy feats since when

it began its journey. They are not only catering to domestic needs, but also exporting

to over 30 countries. Spices exports were close to USD 30 million in fiscal 2016-17.

Foods and beverage industry of Bangladesh is the fifth highest contributor to the

national exchequer. There has been an upward trend in the domestic market for their

products and market size now stands at around Tk 60 billion.

By guaranteeing taste, quality, appealing bundling and great scope all through the

nation Square Foods and Beverage has been getting a wonderful reaction from

market. A year after its operation Square Foods and Beverage accomplished the

crown of the pioneer. Items running from Basic flavors, mixed flavors, Cereal and

Pulses to Edible oil are right now accessible under the name of SFBL. Specialized

abilities in preparing post-reap dealing with; keeping up Good Manufacturing practice

(GMP) and grinding technology have given SFBL strong competitive edge in the

industry. SFBL remains for virtue. Subsequently it took as a social duty to make

individuals mindful about the adulated spices.

2.2.1 HOW STRONG ARE THE THE INDUSTRY’S COMPETITIVE FORCES?

( FIVE FORCE FRAMEWORK)
 Bargaining Power of Supplier for SFBL

Square Food and Beverage Ltd does not have to bargain that much about the

prices of raw material. There are some listed suppliers for providing SFBL raw

materials like raw chili, turmeric, coriander, red and yellow mustard seeds.

Square Food and Beverage has been always loyal towards their supplier

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 regarding financial issue and suppliers are also providing them the best

quality raw material which is an assurance of the purity of SFBL Brands. For

all these reason, the power of supplier is low and it gives a huge support to

SFBL products to maintain the price in the market.

 The Bargaining power of Buyers for SFBL

The competitive pricing of product is also giving chance of lot of option to the

consumer. Then again number of loyal customer is much high for particular

brand. Consumers have option for buying other brands or local pure spices.

As a result, they bargain with the shopkeepers while buying this product.

Consumers are concern about the price of the product rather than quality.

Besides, there are also regional local mustard oil products in the market which

are offering in a lower price than branded oil. Regional local spices companies

are trying to grab the market by offering lower price rate and convince the

consumers that their products are pure mustard oil. That is why the bargaining

power of buyer is moderate for Spices products.

 Threat of New Entrants for SFBL

The risk of entry in the spices market is very high because of the availability of

the raw material in the local market. Someone can easily enter into this

business if they could manage packets for the product and raw material are

available in the local market. For all these reason, there are many regional

local competitors in the market. SFBL has to face many challenges to

complete with the regional players since the price of these regional

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 competitors are lower than branded mustard oil. Square Food and Beverage

Ltd can’t Risk of Entry:

 Threat of Substitute in the market

Consumers wouldn’t get any alternative product to have the same taste. As a

result, the threat of substitute product is low. Square Food and Beverage ltd is

not aware of facing any challenges regarding substitute product.

 Intensity of Rivalry among existing Firms

If I see competitor’s product, I would find any promising product in the market.

For all these reason, the threat of rivalry product is moderate. Also,

competitors are not able to give relevant consumer promotion to the customer

and that‘s one of the another reason customers are not loyal to any specific

brand. On the other hand, Square food and beverage is pricing their product a

bit high rather than other product and consumers may switch to other brands

because of the price. Consumers are concern about the price when they buy

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 any product. It’s one the treat from the rivalry that SFBL is facing. But, their

attractive consumer promotion will help them to keep continues growth of the

product. The treat of rivalry among the current industry competitor is

moderate. The positioning of this product is purity and SFBLs is able to keep

the brand promise. The product attributes and Brand promise are helping the

product to differentiate from others.

2.2.2 WHAT ARE THE DRIVING FORCES IN THE INDUSTRY, AND WHAT IMPACT
WILL THEY HAVE ON COMPETITIVE INTENSITY AND INDUSTRY PROFITABILITY? –
THE DRIVING FORCES

Square has invested in quality, lab equipment and human resources to raise the

standard to international level. Bangladesh will soon become a major global hub for

high quality and low-cost generic spices. Bangladesh's spices industries aim to

capture 5% percent of the global generic market as 5 to 7 companies have received

approval from top regulatory. Bangladesh exports medicinal products to 30

countries. It is urban city which is geographically selected because SFBLs are little

bit expensive and quality is high. And women who works has little time left for

cooking so they prefers easy go process to cook. And also it helps to get rid of

blending and pasting traditional time consuming process.

It is predicted that Bangladesh will become higher Middle Income Group and

Higher Income Group by 2021 and 2041 respectively. As GDP growth is higher than

population growth, per capita income is likely to rise. This will lead to higher health

care expenditure by both individual and government. This is a positive factor for

Square Food & Beverages Limited.

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2.2.3 WHAT MARKET POSITIONS OF INDUSTRY RIVALS OCCUPY – WHO IS
STRONGLY POSITIONED AND WHO IS NOT? – COMPETITOR ANALYSIS

Advanced chemical industries Limited (ACME) is also engaged in the manufacture

and marketing of foods. SFBL contributed 0.40% of total turnover in the sector at the

premier bourse last month. BD Foods Limited is engaged in the manufacture and

marketing, it contributed 0.08% of total turnover in the sector at DSE in last month.

Active Fine Chemicals contributed 2.51% of total turnover. There are also

other potential competitors such as Ispahani Ahmed etc.

2.2.4 WHAT STRATEGIC MOVES ARE RIVALS LIKELY TO MAKE NEXT?

The Rival Firm’s Objective

Local firms are aiming to expand globally by producing product that meets

international standard. Companies are positioned strongly based on huge financial

capability. By increasing the product portfolio they are trying to maintain their market

position.

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The Rival Firm’s Current Strategy:

Food & Beverages Industry is one of those sector where Technology, positioning

and R&D dominates. Firms like Pran, BD Foods, Ahmed invests heavily in R&D and

introducing sophisticated technology every now and then for drugs production.

Because it will ensure high quality spices production along with reduced price benefit

in the future. Firms are also investing heavily in marketing activities and sales

promotion to stand out from other competitors.

The Rival Firm’s assumption about themselves and the industry:

To compete with SFBL, the industry leader, competitor is continuously investing

improving its technology base and focusing on continuous research and

development work. It will help them to gain competitive advantage. They are

developing and implementing efficient marketing tactics to capture large market

share. Rivals firms’ assumption is that, this industry is growing and firms have to

remain competitive based on innovation and strong marketing tactics.

2.2.5 WHAT ARE THE INDUSTRY KEY SUCCESS FACTORS?

KSFs are the factors within the industry environment that influences a firm’s ability to

outperform rivals. It is the strategy elements, product and service attributes,

operational approaches, resources, and competitive capabilities that are necessary

for competitive success by any and all firms in an industry. Vary from industry to

industry, and over time within the same industry, and in importance as drivers of

change and competitive conditions change.

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SFBL is maintaining is leadership position in such a competitive market successfully

based on innovation, research, knowledge based advancement, specializing in

analysis, design and development of new products. To ensure the best quality,

SQUARE started its State of the Art Unit. The infrastructure (civil works & utilities) of

quality Manufacturing Facility has been established. The equipment are highly

technology based and fully automated system. The manufacturing process line is

compatible both for Aseptic filling and terminally sterilized products. Manufacturing

and packaging operations are carried out according to the validated methods

through systematically qualified machines with full documentation at all stages of

operations.

All the skilled and professional personnel are set at their very appropriate

responsible positions. Their sales team comprising highly professional science

graduate and post-graduate people are involved in the timely and smooth promotion

of our products for the benefits of our doctors, people as well as the whole nation.

The production sites follow guidelines for environmental requirements of the

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manufacturing and packaging area, as well as comply with the requirements.

Storing of raw and packaging materials meet the requirements of production and

also storing and dispatch of finished products as per concept of Good Storage

Practice of spices. SFBL began its operation with a handful of highly skilled and

dedicated professionals guided by an able leadership.

2.2.6 IS THE INDUSTRY OUTLOOK CONDUCIVE TO GOOD PROFITABILITY?

Bangladesh's foods and beverage spices sector will grow 5 percent year-on-year to

reach $1.28 billion by 2023, propelled by high investments by local companies as

they seek to grab a bigger share of the global market, according to Star Business

Report. By Year 2022, the market size will be more than doubled to $0.98. billion.

Bangladesh's spicesl industries aim to capture 5 percent of the global generic market

as 5 to 7 companies have received approval from top regulatory bodies. exports

fetched $23.46 million in the last fiscal year, up 2.03 percent year-on-year. n the first

quarter of 2018, the market size of spicesl products in Bangladesh was $0.35 billion

and year-on-year growth rate was 8 percent.

2.3 EVALUATING A COMPANY’S RESOURCES, CAPABILITIES &

COMPETITIVENESS (INTERNAL ENVIRONMENTAL ANALYSIS)

2.3.1 HOW WELL IS THE COMPANY’S PRESENT STRATEGY WORKING?

The best way to have a clear view of what strategy entails. The first thing to examine

is company’s competitive approach. It means what moves has the co made recently

to attract customers and improve market position.

SFBL has been exporting chili, turmeric, coriander, cumin, and various seasoning

powder to 30 countries. This extension in business and services has manifested the

credibility of Square Foods and beverage Limited. Square has strong distribution

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channel, strong marketing department and inventory systems all over the country. It

helps to maintain inventory properly and make sure their products are widely

available all over the country. Square has a wide access to import its products to

giant India, China, Germany and USA market. Thus make them able to produce

more quality products with trusted suppliers. They are also exporting products at

large scale to global market to make the face of Bangladesh enlighten

2.3.2 WHAT ARE SQUARE LTD.’S COMPETITIVELY IMPORTANT

RESOURCES AND CAPABILITIES? WILL THEY GIVE THE COMPANY A
LASTING COMPETITIVE ADVANTAGE OVER RIVAL?

Main tangible asset of Square Company are its facilities and technological set up. It

has two formulation unit. The Dhaka Unit is about 50 km away in the north of the

capital city. At present thousands of employees are working. All the skilled and

professional personnel are set at their very appropriate responsible positions. It is

maintaining the position of Industry leader since its inception and gaining

international recognition for its premium quality product that follows international

standard.

Resources and capabilities of Square serve as a source of competitive advantages

over the competitors. SFBL is valuable in terms of their products, quality, price,

features, technology, innovation and marketing tactics compare to their competitors.

SFBL products are available in to the market as they have many competitors like:

Acme, Pran, BD Foods Ltd. Their products are not so costly. Competitors are selling

similar kind of products in the market. But they have few products that involves huge

investment in R&D that makes it hard to imitate. SFBL has some substitutable

product in to the market due to which they face strong competition.

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2.3.3 WHAT ARE THE CO’S STRENGTHS AND WEAKNESSES IN RELATION
TO THE MARKET OPPORTUNITIES AND EXTERNAL THREATS?

The BASIS for crafting a strategy that capitalizes on the company’s Strength,

overcome its Weakness, aims squarely at capturing the company’s best

Opportunities, and defends against competitive and macro-environmental Threats

IDENTIFYING STRATEGIC STRENGTHS OF SFBL

 They considered as market pioneer among all the competitors

 Strong distribution channel by establishing four phased non-direct distribution

channel.

 Good Quality Products conforming to local tastes, health & hygienic

standards.

 SFBL has a good management, skillful and trained employee.

 Good packaging and pricing strategy.

 Affordable price within the reach of target consumers.

 Available everywhere all the time.

 Achieve efficient production capacity by ensuring economies of scale of

production.

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IDENTIFYING STRATEGIC WEAKNESS OF SFBL

 Presence of high competition discourages an increase in market share for

Square Foods and Beverage limited.

 In the Packaging, SFBL does not have much to differentiate from the other

brands.

 Dependent on foreign suppliers for raw materials

 Even though Square Foods and Beverage limited holds the top position in

market share, they lack customer feedback which can be crucial in improving

product demand to the customers.

 Sometimes due to production inefficiency makes inconsistency in supply of

products; as a result they cannot supply those products to retailers timely.

IDENTIFYING STRATEGIC OPPORTUNITIES OF SFBL

 Increasing the distribution of the product is the best way and only way that

consumer companies can sell higher numbers. Production and shelf life is a

bottleneck to distribution as well.

 Favorable regulatory authority for domestic manufacturers

 There is a rising opportunities for SFBL to export products in other parts in

which they are not sending their products yet.

 This industry is experiencing immense growth driven by a large consumer

base, improved health consciousness and a supportive regulatory framework.

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IDENTIFYING STRATEGIC THREATS OF SFBL

 Uncertainties, such as: social, political, economic threats.

 There is a huge competition from MNCs and transformation of process patent

to product patent.

 Potential competitors can come from the current suppliers or the supply chain

 There can be more foreign company invest in Bangladesh and saturate the

current market of Food & Beverages.

2.3.4 HOW DO SFBL’S VALUE CHAIN ACTIVITIES IMPACT ITS COST

STRUCTURE & CUSTOMER VALUE PROPOSITION?

Impact of value chain activities on cost structure and customer value proposition:

SFBL has a large distribution network that covers the whole country and ensures

availability of product in local market. The Distribution centers are located in 21

major cities across Bangladesh. Products are supplied on a daily basis to all the

major cities and towns of the country. Remote areas are also supplied rhythmically to

ensure timely availability of products to all customers. There is a large fleet of

transport including refrigerator trucks for supplying temperature sensitive products to

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retail shops around the country. Cold chain system is employed to products which

need strict temperature control.

2.3.5 IS THE CO COMPETITIVELY STRONGER OR WEAKER THAN KEY

RIVALS?

SFBL has always been a pioneer in adopting innovative technologies. This brings

both sophistication and the potential to sustain growth to our business. There are

many regional local competitors in the market. SFBL has to face many challenges to

complete with the regional players since the price of these regional competitors are

lower than branded mustard oil. Over the past couple of years Square have made

considerable investments in facilities and processes to improve productivity, drive

growth and achieve excellence in operations. Alongside investment in manufacturing

facilities, Square is equally focused on investing in products, markets and most

importantly our human resource.

2.3.6 WHAT STRATEGIC ISSUES & PROBLEMS MERIT FRONT-BURNER

MANAGERIAL ATTENTION?

SFBL is continuously focused on strengthening its R&D capabilities. There have

been a series of positive developments in the year under review. In recent years they

have developed drugs that were not previously available in local market. This is

another testimony of manufacturing excellence and important progress towards

achieving targeted exports into the regulated European markets. SFBL developed

wide variety of products. Product variety represents different types of items. At

present, SFBL offers different types of products. Square can diversify itself by

developing new product to ensure both the sustainable growth of its business and a

meaningful return for its valued shareholders.

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3. CONCLUSION

Certainly SQUARE Food & Beverage (SFBL) is the leading company in the Food &

beverage industry in the rising economic zone Bangladesh. The competitive forces

of SFBL Spices of Square Foods and beverageLtd are strong along with the driving

forces. The rival companies in its strategic group are also plying nearby and can

easily overtake its market position if they are not concerned with the factors required

for survival and progress.

Square’s strong key success factors in terms of marketing, technology,

manufacturing, distribution and skills is their key strength for survival. These industry

is a competitive industry with fast growth. SFBL has a variety of product as well as

good product distribution. To overcome the upcoming challenges and to adapt with

the current competitive market, they need to invest more in the R & D Department

and focus on producing product that are not substitutable.

So What SFBL should do in the context of my findings? SFBL should focus more on

the value based pricing instead of focusing on the competitive and cost based

pricing. SFBL should consider hiring more qualified people to distribute the work

evenly so that number of mistakes can be reduced and the verifying time of a

transaction can be quicker. I hope if they can implement the strategic analysis of this

report, they will not only be able to sustain their current strategic success in the long

run but also enlighten the face of Bangladesh both locally & globally indeed.

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REFERENCES

Grant, M. (2019). How SWOT (Strength, Weakness, Opportunity, and Threat)

Analysis Works. [online] Investopedia. Available at:
https://www.investopedia.com/terms/s/swot.asp [Accessed 25 Aug. 2019].

Savaşan, A. (2014). The Importance of Learning Strategies in ELT. [online]

Slideshare.net. Available at: https://www.slideshare.net/azadsavasan/learn-strat-
eltsbriggs08 [Accessed 25 Aug. 2019].

Schooley, S. (2019). SWOT Analysis: What It Is and When to Use It. [online]
Business News Daily. Available at: https://www.businessnewsdaily.com/4245-swot-
analysis.html [Accessed 25 Aug. 2019].

Sfbl.com.bd. (n.d.). Square Food & Beverage Limited (SFBL) - Company Profile.
[online] Available at: https://www.sfbl.com.bd/about_scpl.php [Accessed 25 Aug.
2019].

Shaikh, F. (2013). What Makes a Strategy a Winner?. [online] Bms.co.in. Available

at: http://www.bms.co.in/what-makes-a-strategy-a-winner-3/ [Accessed 5 Jul. 2019].

Strategic management. (n.d.). Retrieved from Strategic management:

https://opentextbc.ca/strategicmanagement/chapter/mapping-strategic-groups/

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