DANANG UNIVERSITY OF ECONOMICS BTEC HND BUSINESS (MANAGEMENT)

Assignment Cover Sheet

NAME OF STUDENT REGISTRATION NO. UNIT TITLE ASSIGNMENT TITLE ASSIGNMENT NO NAME OF ASSESSOR SUBMISSION DEADLINE

Unit 1: Business Environment Fundamental Analysis of the Global Golf Industry 2 of 2 ELBERT BR A! R" #I$AL $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 is obtained by me for this assi+nment"

________________________________ 0i+nature

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

ASSIGNMENT GRADE

Unit out omes

Out ome Evi!en e "or the riteri# E1.lain ho, mar-et stru%tures determine the .ri%in+ and out.ut de%isions of businesses Illustrate the ,ay in ,hi%h mar-et for%es sha.e or+anisational res.onses usin+ a ran+e of e1am.les 2ud+e ho, the business and %ultural environments sha.e the behaviour of a sele%ted or+anisation $is%uss the si+nifi%an%e of international trade to U3 business or+anisations Fee!$# % Assessor&s !e ision Intern#' (eri"i #tion

).*

LO) Understand the behaviour of or+anisations in their mar-et environment

).+

).)

-.*

,LO-. Be able to assess the si+nifi%an%e of the +lobal fa%tors that sha.e national business a%tivities

Analyse the im.a%t of +lobal fa%tors on U3 business or+anisations Evaluate the im.a%t of .oli%ies of the Euro.ean Union on U3 business or+anisations

-.+

-.)

Merit gr#!es #/#r!e! Distin tion gr#!es #/#r!e!

M* D*

M+ D+

M) D)

Out ome

Evi!en e "or the riteri#

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Assessor&s !e ision

Intern#' (eri"i #tion

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

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

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

STUDENT SIGNATURE N#me5 66666666666666666666666666666666666666666666666

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FOR OFFICIAL USE ONLY:

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YES

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The Go'" E7ui3ment #n! Consum#$'es5 A G'o$#' Str#tegi Re3ort

4ublished by Resear%h and 5ar-ets' 2uly 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 influ1 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 e1.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.ort redu%ed drasti%ally' the number of rounds .layed also de%lined dramati%ally a%ross

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 )"AB 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 e1.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)"1E

&

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)"2E An analysis that 6ud+es ho, the business and %ultural environments sha.e the behaviour of a sele%ted or+anisation D)")E

SCENARIO +5 CLASS 0RESENTATION ABOUT GLOBALISATION AND T9E EURO0EAN UNION 8ith stri%t referen%e to the %om.iled materials in the assi+nment' you are to .erform a %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 Analyse the im.a%t of +lobal fa%tors on U3 business or+anisations D="1E D="2E

Evaluate the im.a%t of .oli%ies of the Euro.ean Union on U3 business or+anisations D=")E GRADING
0#ss Merit is a%hieved by meetin+ all the re9uirements defined in the assessment %riteria" Identify and a..ly strate+ies to find a..ro.riate solutions" D51E

:haracteristics / Possible Evidence F An effe%tive a..roa%h to study and resear%h used to investi+ate behaviour of or+ani/ations and the mar-et environment affe%tin+ or+anisations has been made" 0ele%t and a..ly a..ro.riate te%hni9ues" D52E

Characteristics / 4ossible Evidence F 0tudents revie,ed the relevant theories that are a..lied to the +iven situation" Ran+e of information sour%es used related to set tas-s" 4resent and %ommuni%ate a..ro.riate findin+s D5)E

:hara%teristi%s / Possible Evidence F An a..ro.riate stru%ture and a..roa%h have been used to .re.are a re.ort" 4resent data usin+ a ran+e of methods e"+" tables' dia+rammati%al and +ra.hi%al forms" Distin tion Use %riti%al refle%tion to evaluate o,n ,or- and 6ustify valid %on%lusions D$1E Characteristics / Possible Evidence F :reativity has been used to

+enerate and 6ustify valid %omments based on investi+ation of the behavior of or+ani/ations and their mar-et environment"

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

D$2E

Characteristics / Possible Evidence F $emonstrates substantial investi+ations have .lanned' mana+ed and or+ani/ed for the +iven or+ani/ation mar-et stru%ture .ra%ti%es' %om.etitive strate+ies em.loyed and also im.a%t of .oli%ies" $emonstrate %onver+ent' lateral and %reative thin-in+ D$)E

Characteristics / Possible Evidence F An innovative and %reative thou+ht has been used to investi+ate or+anisations ,ithin its environment at lo%al' national and +lobal level and the im.a%t of +overnment .oli%ies as ,ell as inside the Euro.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%turerGtutor name and studentHs name" Atta%h all the .a+es of assi+nment briefG%over sheet ,ith your re.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 Arial or Times !e, Roman s%ri.t" &" our assi+nment should be ,ord7.ro%essed and should not e1%eed )'((( ,ords in len+th"

A" Use the >arvard referen%in+ system" ;" E1hibitsGa..endi%es are outside this limit" I" The assi+nment should be not %ontain a biblio+ra.hy F but should %ontain a list 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"

$o not leave thin+s su%h as .rintin+ to the last minute F e1%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+E for an e1tension" 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 te1t and any biblio+ra.hy" NOTE5 I" 2ou #re #ught 3'#gi#ri;ing< 2ou ou'! h#ve 2our gr#!e re!u e! to ;ero< or #t /orst< 2ou ou'! $e e= 'u!e! "rom the ourse.

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' Re0ort 2ass is a'(ie&ed b3 ,eetin- all t(e re/.ire,ents defined in t(e assess,ent 'riteria Merit Identif3 and a00l3 strate-ies to find a00ro0riate sol.tions $M!% Distin'tion Use 'riti'al refle'tion to e&al.ate o5n 5or6 and 7.stif3 &alid 'on'l.sions $D!% Ta6e res0onsibilit3 for ,ana-in- and or-anisin- a'ti&ities $D)% De,onstrate 'on&er-ent9 lateral and 'reati&e t(in6in- $D+% NOTES TO STUDENTS for s.,,ission 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<ation Referen'es ! ! ) + + + + 1 4 4 4 8 8 8 : !; !+ != !8

<

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 bi0otential ,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 eAtre,e d3na,i' C(ara'teristi's N.,ber of fir, "arrier to entr3 and eAit fro, ind.str3 T30e of 0rod.'t #o,o-eneo.s Differentiated Sa,e or different Uni/.e9 no s.bstit.te 2erfe't 'o,0etition Ver3 ,an3 No barrier to entr3 and eAit Mono0olisti' 'o,0etitor Man3 Minor barrier A fe5 Considerable barrier Fe5 EAtre,e -reat barrier Oli-o0ol3 Mono0ol3

1(

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(e 0rod.'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 C ATC9 t(e fir, is earnin- t(e 0rofit If 2 D ATC9 t(e fir, is earnin- a loss If 2 E ATC9 t(e fir, is earnin- <ero e'ono,i' 0rofit

F%.!re 1. S')rt/r!& (r)#!"t%)& In t(e s(ort>r.n 0rod.'tion9 t(e fir, 5ill 0rod.'e t(e /.antit3 of o.t0.t t(at e/.ates MR 5it( MC T(e3 -ain t(e ,aAi,., 0rofit 5(en MR is e/.al to MC 2rod.'e at t(is 0oint to ens.re t(e (i-(est 0rofit for 'o,0an3 T(e 'o,0an3 'ontin.es to 0rod.'tion 5(en MR C MC t(at ,ean t(e 'ost of 0rod.'tion .nder t(e 0ri'e of 0rod.'t If t(e3 5ant to sell ,ore 0rod.'t9 t(e3 s(o.ld to red.'e t(e 0ri'es

11

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

3.0 Market *)r"e a**e"t .),* e1!%($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<e t(e 'o,0etiti&e and '(an-e on b.siness en&iron,ent Bno5in- t(e effe't of t(ese for'es9 ,ana-er 5ill dire't t(e f.t.re of 'o,0an3 effe'ti&e

F%.!re 3. M%"'ae, 2) ter3 F%4e F)r"e

1)

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.A.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 EA'e0t t(e 0rofessional -olfer 5(o (a&e 6no5led-e9 it is so diffi'.lt for ne5 0la3er reali<ed t(e fa6e 0rod.'t In addition9 t(e ind.str3 (a&e fe5 bi- brand for 'ons.,er to '(oose In Vietna,9 t(e C(ina@s 0rod.'t &er3 eas3 enter to t(e ,ar6et and ,a6e t(e 0ri'es lo5er T'e Bar.a%&%&. 2)5er )* S!((,%er % '%.'. In b.siness9 t(e s.00lier 0o5er de0end on t(e 0rod.'t In t(e ,ar6et6 ea'( -olf e/.i0,ent fir, (a&e ,a7orl3 s.00lier fro, Asia For t(is reason is Asia 'o.ntries al5a3s offer lo5 0ri'es es0e'iall3 C(ina T(is 'o.ntr3 (a&e bi- and '(ea0 5or6for'es so t(e 'o,0an3 (a&e ,ore ad&anta-es Al,ost 0rod.'t 0rod.'ed in C(ina so t(e s.00lier 'an -et t(e (i-(er 0ri'es T'e Bar.a%&%&. 2)5er )* C! t)$er % ,)5 In -olf ind.str39 t(is for'es is &er3 i,0ortant for s.''essf.l of b.siness be'a.se t(e ,ain re&en.e fro, t(e, .ntil );;8 in Asia (a&e ,ore !8 ,illion -olfer and it is a lar-er n.,ber of b.3er T(e ,ain '.sto,er of -olf is ri'(9 0rofessional 0la3er so t(e3 (a&e stron- 0o5er to affe't t(e 0erfor,an'e of 'o,0an3 In t(is sit.ation9 t(e3 'on'ern t(e /.alit3 of 0rod.'t refer t(an t(e 0ri'es T(e fir, s(o.ld fo'.s on i,0ro&e and de&elo0 t(e /.alit3 of 0rod.'t and ser&i'es In addition9 ,id>in'o,e '.sto,er also (a&e bar-ain 0o5er be'a.se t(e s5it'(in- 'ost lo5 bet5een ri&al 0rod.'ts C)$(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 F;G of
1=

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 eA0erien'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 )r.a&%7at%)&.

a&# "!,t!ra, e&4%r)&$e&t

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barriers ,a6e -olf does not 0o0.lar in Vietna, First9 it too diffi'.lt to 0la3 and ta6e a lonti,e to be ,aster Ot(er t(in-s9 -olf is so eA0ensi&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 eA0and 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 eA0ensi&e t(at 5(3 -olf be'o,e t(e ideal -a,e for t(e, Te"'&),).%"a, e&4%r)&$e&t. Toda39 t(e -ro5t( in t(e .se of internet is ra0idl3 T(is is t(e reason 5(3 e"a39 A,a<on and ot(er s(o0 online de&elo0 &er3 /.i'6l3 5it( bi- 0rofit All 5ebsites sell t(e 'o.nterfeit 0rod.'t fro, C(ina It is t(e bi- ris6 for fir, to 'o,0ete t(e, "esides9 t(e -olf e/.i0,ent ind.str3 s(o.ld resear'( and de&elo0,ent e/.i0,ent and tools to 0rod.'e better and (el0 -olfer en7o3s -a,es easil3 #o5e&er9 t(e ne5 r.les of -olf or-ani<ation s.'( as USGA and RHA on t(e li,itation t(e de&elo0,ent of te'(nolo-3 for -olf e/.i0,ent ind.str3 E&4%r)&$e&ta, (r)te"t%)&. All -olf e/.i0,ent 'o,0an3 s(o.ld (a&e res0onsibilit3 and 0oli'3 to 0rote't t(e en&iron,ent It is also t(e ne'essar3 to find o.t t(e ri-(t for, of reso.r'es Le.a, e&4%r)&$e&t. T(ere are t(e la5 and re-.lation t(at 5ill s.00ort t(e 'o,0an3 to r.n o0eration T(e rise of 'o.nterfeit 0rod.'t in -olf e/.i0,ent ind.str3 is a (.-e a,o.nt of t(reat Unfort.natel39 t(e C(inese -o&ern,ent does not sol&e t(is 0roble, and t(en it (ar,ed t(e -lobal ind.str3 T(e -olf e/.i0,ent fir, ,.st find t(e 5a3 to sol&e t(e 0roble,

Re*ere&"e .
?ebsites: Mono0olisti' Co,0etition $);!+% A&ailable: (tt0:IIt.tor). netIe'ono,i'sIre&ision>notesIa)> ,i'ro>,ono0olisti'>'o,0etition (t,l *ast a''essed !) De'e,ber );!+ F.t.re of Vietna, Golf $);!+% A&ailable: (tt0:II555 -olf5orld &nItin>t.'>-olfI-olf>&iet> na,It.on->lai>-olf>&iet>na, (t,l *ast a''essed !) De'e,ber );!+ Global -olf ind.str3 fa'in- '(allen-es $);!+% A&ailable: (tt0:II555 bb' 'o .6Ine5sIb.siness>!)8+!;:: *ast a''essed !) De'e,ber );!+ Co.rseboo6

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