BU2005 Entrepreneurship Sakae Sushi Business Plan Simply by: Lu Mi (12668064) Zhou Ke Jun (12618536) Aditya Nandal (1266) Mayank Bhardwaj(12669440) mayank. [email, protected] jcu.
edu. au Executive Summary This record provides an research and evaluation of the current and potential marketing, revenue strategy, goal customers, production cost, bills and capital requirements of Sakae Sushi. It is an thorough report that discusses regarding the climb of Sakae Sushi among Singapore’s significant restaurant chains.
This survey talks about the methods implemented simply by Sakae Sushi to attract clients during the time of the Asian financial disaster. This statement contains monetary statements of Sakae Sushi, it also contains information linked to the costs linked to running the organization, i. at the. expenses, wages and expense of raw materials, etc . It also includes information about the supervision team of Sakae Sushi and it provides ideas of the market and the organization on the whole. Likewise discussed listed below are the various products and services offered at Sakae Sushi as well as the methods executed by them to promote and advertise all their brand to the masses.
At the end there are a few inquiries addressed for the Chief Executive Officer of Sakae Sushi, Mr. Douglas Foo Peow Yong, which supports us to achieve first hand knowledge about Mr. Foo and also about Sakae Sushi. It will also help young and future entrepreneurs to understand how to examine the market and make right decisions every once in awhile. Table of contents 1 . Introduction 2 . Overview of the Industry several. Insights within the Company some. Market/Product Setting 5. Product or service offered six. Marketing (4 P’s) six. Sales 8. Business Development Status being unfaithful. Production Process 0. Suppliers 11. Staff training and requirements doze. Expenses and Capital Requirements 13. “balance sheet” 14. Profits Statement 12-15. Cash Flow Statement 16. “balance sheet” & earnings statement of Sakae Coalition 17. Economic Highlights 18. Management Account 19. Panel of Owners 20. Money Request and Exit Technique 21. Risks and A contingency Planning twenty-two. Recommendations Launch Sushi is a Japanese niche that consists of boiled vinegar rice wrapped around by a sheet of seaweed usually dry seaweed. Sushi is considered the most famous Japan food located outside The japanese.
In Asia sushi can be portrayed as a traditional food, the Japanese people enjoy different kinds of sushi during a number of occasions. One example is oshi-zushi, which is made by pressing fish on to the sushi rice in a wooden container, inari-zushi is a very simple and cheapest type of sushi in which the grain is filled in to deep fried tofu, chirashi-zushi is another variety of sushi in which sea food, mushrooms and vegetables are added above the sushi rice (Japan-guide. com, 2008). The main ingredients associated with preparing sushi are Shari that includes short white-grained Japanese grain mixed with a dressing composed of rice-vinegar, sugar and salt.
Next component is Nori, which is fundamentally black seaweed wrappers, it is just a type of algae very common in the harbors of Japan. That mostly consists of the use of fish tuna, being the most common plus the chef’s niche. Other seafood’s like shrimp, octopus, squid and crabs are used in preparing sushi. There can be more ingredients included in sushi by simply adding them to the rice before it is rolled with the seaweed. One can make use of the bamboo sparring floor for making the sushi roll (Japan-guide. com, 2008). Sakae Sushi was initially introduced through the Asian financial meltdown when the majority of the major Asian economies had been going through a phase of turmoil.
Mr. Douglas Foo Peow Yong, the Chief exec officer of Sakae Sushi opened the first branch of his today famous cycle of restaurants in 97 at Raffles Place, Singapore. At that point over time many would have thought of it as a incredibly risky business and a great risk, but the organization did exceedingly well to keep up its photo in the market and so they established themselves as a difficult competitor amongst other food chains. They will managed all of this by providing excellent quality customer service and serving probably the most delicious sushi dishes in the city.
Sakae sushi took the center of many Singaporeans and generally there innovative concept of serving sushi on the conveyor belt attracted more and more buyers, not only japan people moving into Singapore but also visitors from across the world visiting Singapore being a visitor hotspot. Various foreigners visiting Singapore were in search of superb ambience and good quality great dining cuisine, which was offered at Sakae Sushi and the hospitality with the staff for Sakae sushi made consumers visit these people more often and in addition recommend them to their many other colleagues and friends. Summary of the Sector
Mr. Douglas Foo would not have dreamed of that taking a gamble of launching his business during tough times would have paid of so much that help him reach such levels, as when of downturn it is always very difficult to enter a brand new market and sustain on the market, but his hard work together with the compassion and commitment of his co-workers and their imagine becoming the very best in the business not merely allowed the business to grow during hard times but in credited course in addition, it became one of the most famous and trusted restaurant in qSingapore and also around Asia. Mister.
Douglas Foo implemented his business thought with full dedication and attention and he likewise operated his business by low profit margins, which helped him entice more customers including the flourishing middle course and also pupils to enjoy nice tasting authentic Japan cuisine sitting down at home in Singapore. He saw that his business was succeeding in Asia and this produced him consider expanding outside Asia. Using the of together with the United States of America nevertheless due to the community financial crisis in 2008 his dreams of doing well in the States were shattered and it was hard to preserve the business in New York.
Mister. Foo as being a great Entrepreneur spotted the down sides early on during the financial crisis and he finally decided to power down operations on the Chrysler building in Nyc. Insights on the Company Mister. Douglas Foo introduced the first subset of Sakae Sushi at Raffles place in Singapore in the year 1997, knowing it’s going to be a tough combat Mr. Foo never guaranteed out. He worked really hard along with his staff to sink into into the industry and build Sakae Sushi in the country.
To draw customers that they kept the costs low in assessment to other competitors, which in turn attracted even more customers and soon went on to open fresh outlets 1 by 1 and finally today they individual more than 31 outlets in Singapore yet he would not stop below, his plans of becoming internationally renowned motivated him to open fresh outlets in Malaysia, Asia, Indonesia, Israel and the Someones Republic of China, with intentions of entering North Korea and also looking to function in the United States of America in the near future (Apex-Pal Worldwide, 2009).
That they opened various branches inside the suburban areas of Singapore, which gives a clear notion of them aiming to reach out to the masses, this really is another reason for their success. To grow along with the fast growing new technology, Mr. Foo introduced a number of other chains aside from sushi, this individual opened stores like Sakae Teppanyaki, Sakae Izakaya, The Pasta shop by Sakae, Hibiki and in addition for private sector celebrations he introduced Nouvelle Events and they quickly became one of the best caterers in all of Singapore.
The innovative idea of using conveyor belt to serve food met with a big success and attracted customers who were buying great atmosphere to enjoy delicious food. This individual also launched Sakae Delivery that empowered people to possibly order sushi at their house by dialling Sakae Sushi directly. Their good quality foodstuff, safe environment and buyer friendly service allowed those to achieve substantial customer satisfaction, therefore making them one of the best restaurant organizations not only in Singapore but in many different parts of Asia (Apex-Pal, 2003). Mr.
Foo does not just want to stop here, he offers plans enter into other Asian markets like North Korea that has strong monopoly power and in addition he still hopes for achieving success in the United States of America. Market/Product Positioning Sakae sushi not merely serves sushi but it also includes a variety of products that were presented by Mister. Foo to keep domination on the market. He understood very well that Singapore as being a tourist region attracts many foreigners with different taste buds, so this individual introduced many other signature meals that address the taste buds from the customers.
To perfectly keep up with the demand they help keep on innovating and presenting new gives and new themes every month for example they will started with Soba topic for the month of April which involved a lot of Soba meals specialties just like soba soups, soba salad and derrota cheese progresses, and the best part is that all these items are affordable even intended for the middle school. At some stores they actually serve cost-free meals in each first Sunday of the month for the young children.
The important to appeal to the small generation and today’s technology loves to include fast food and so they introduced variety of hamburgers like Teriyaki Chicken, Unagi and Salmon Mango, the college going children and college students also enjoy such special treats provided to them for reasonable prices. Sakae sushi as well runs several sushi buffets for each meals of the day just like lunch buffet, teatime dressoir and supper buffet for each and every member of the family from kids to youngsters to adult they cover all the generations. Their customers like the availability of distinct desserts with several fruity flavors and they are generally even healthy and balanced.
The vast varity of desserts presented like sesame with crimson bean, vanilla with saying, mango and strawberry, and so forth are appreciated by everyone, thus the people enjoy going to Sakae Sushi again and again (Apex-Pal International, n. d. ). Marketing Promoting is an art and science of mixing up of elements such as appealing items, competitive prices, convenient places/locations, and promotions to consist of the basic foundations of the business offer for the market (Noel Capon, 2009, p. 11). Marketing essentially involves 3 types of orientation, my spouse and i. e. Buyer, goal and system orientation.
All three orientations need to go hand in hand so as to accomplish golden accomplishment for any company and this is exactly the case of Sakae Sushi. Mr. Douglas Foo and other members in the management group were able to address all three orientations very well and were able to make such your brand in Singapore that now provides operations in certain of the key economies of Asia. The marketing mix of services promoting included 5 P’s which might be essential to effectively market a product to the possible target market, the 4 P’s are namely, Product, Place, Promotion and Pricing.
For virtually any firm to excel in the marketing efforts it needs to focus on these 5 P’s to be able to effectively market their merchandise and make a well-established manufacturer image. (Please refer to appendix 1 . 1) Product The word product identifies the tangible physical products as well as providers that include decisions to be made regarding the manufacturer, styling, product packaging and style, etc . of your product. Just how Sakae Sushi has brought of a change to this concept is some thing for which the management at Sakae Sushi deserves a great round of applause.
Presenting an previously known merchandise to the customers in a completely new way and effectively promoting it for the masses by introducing a fully new concept of conveyor belt is anything to learn from. It not just requires imagination but also innovation in its best, so that whatever hard work is devote is mirrored by the craving the customers possess for their sushi (Lovelock, 2007). Price The amount of competition in today’s world is very substantial and anything costs plenty of money as compared to the past.
To effectively industry out a product to the customers out of the 4 P’s, price are a very important aspect that needs to be taken into consideration as it affects the demand of the commodity inversely. If the price is more then a demand for a great falls and vice-versa, so to increase the sales pricing needs to be competitive, and Sakae Sushi has done precisely the same by bringing out the Sakae Buffet by competitive prices for different times of the week so that just about every sushi liver organ gets to take in all the actual crave intended for. Place
Place or division strategies are concerned with producing products accessible to the customers exactly where and when they really want them (Charles W. Lamb et al. 2008, pg. 46). Sakae Sushi shops in Singapore are located by strategically significant and attainable places, to ensure that their customers do not need to walk mls in search once and for all food. Being located at a lot of Singapore’s excellent locations and almost all stores accessible by simply M. Ur. T, it makes Sakae Sushi the most preferred choice for the working school of Singapore in areas such as Town Hall, Dhoby Ghaut and Orchard during peak workplace hours.
Sakae Sushi objectives those areas to operate their very own stores exactly where they locate a potential target audience also remembering other areas in close area. Promotion Promotion represents the methods of connection that a internet marketer may use to provide information to different parties about his item. Promotion comprises of elements including: advertising, public relations, personal sellingandsales advertising. To gain best of the target audience and customers, various desired of marketing promotions need to be provided form occasionally so as to keep your interest from the customers in.
Sakae Sushi has done enough advertising campaigns and has offered its buyers with new themes every month so that their customers never be bored of the same old dishes. By simply introducing “Sakae Signatures, “Sakae Buffet and “Sakae Lunch time Mix “N Match, and so forth they make an effort to offer a lot more to their clients so that the customers can enjoy eating more delicacies without having to worry about their very own pockets. This has revolutionized the service sector. They also offer hamburgers and pastas so that they can grow their target audience customers and enable more people crave intended for mouth-watering special treats (Lovelock, 2007).
SWOT Evaluation Strengths Well-established brand with regards to customer satisfaction and also they provide top quality service. Industry leaders and trendsetters with regards to addressing the needs from the customers by simply bringing new and apt themes and promotions once in a while that is based on the demands of their customers. Controlling high product sales revenue devoid of charging big prices for their customers. Committed and honest staff that always looks to provide the customers which has a smile. Weaknesses The business composition is highly complicated in terms of functions and the expense of maintenance is usually high.
Featuring on the job training to their employees also is expensive of money. Chances Can look to make profit on the edge they have over their rivals as a well-established brand. They likewise have good tie-ups in overseas countries which include major Asian economies like China. Their company is actually a well-recognized firm listed upon Singapore Stock market. Threats Opponents can duplicate their organization idea trying to monopolize on it. The opponents can offer careers to their personnel at their particular restaurant. It is also difficult to maintain the evolving demands in the customers.
Sales Effectively advertising a product is merely one side of the endroit, the other side of the coin is definitely the sales approach that is implemented by a business so as to improve revenues simply by increasing product sales. All the promoting efforts might be down the drain if the company fails to capitalize on the efforts place in by the advertising team. Main motive of any company is always to earn revenue and this can only be achieved simply by boosting revenue, and to increase sales it is significant to come up with extravagant promotions and schemes so that the customers will be lured in to indulging themselves with the items offered by the corporation.
By introducing Sakae Sushi membership and giving Sakae Card to the customers pertaining to S$38 and still managing to have the customers worth worth S$55 is a good step taken by the management. The not only offers bonus worth, but it also may be used to avail savings and other special offers from Sakae Sushi retailers, this will keep the customers yearning for more and even more new delicacies and keeping a look at fresh offerings.
Numerous schemes and promotions like “The Sakae buffet, Min “N Match, Drive-Thru menu and Do it yourself Collect and Save support Sakae Sushi to maintain substantial standards of customer satisfaction which in turn inspires them to bring up new styles for each month of the yr. For example the topic for the month of April is the “Soba theme. New special offers, new regular monthly themes and discounts support boost product sales and as earlier times records present Sakae Sushi has done good enough to maintain the stream of profits and in addition innovate to perfection (Dalrymple, 2000). Organization Development Position
Sakae Sushi was looked in the year 97, since then it has grown tremendously and expanded and provided to other countries just like Indonesia, Asia, Philippines, Malaysia, Vietnam and China etc . Douglas Foo’s ambition is to turn Sakae into a significant food business and to be regarded as as “the McDonalds of sushi around the world. After starting its first branch in Raffles place (business area of Singapore), it has at this point opened a lot more than 15 limbs in Singapore alone. In 2001, Sakae opened the first offshore outlet in Thailand, a joint venture with a Thai foodstuff company and also other local companions.
By 2002, Sakae is at Indonesia as well and was grossing annual revenue of around $23 million SGD. For the financial season ended 31 December 2009, the Group reported earnings of SGD88. 8 , 000, 000 and net profit of SGD3. three or more million (Theresianto, 2008). In 2001 Sakae Sushi opened up its first Drive through restaurant in Trade Link 21 in Jurong east MRT place. Sakae Sushi tends to available their branches near MRT stations in order to attract the crowd and the frequent travellers. In 2006 Sakae sushi chosen to expand the business to north Korea, Mr.
Foo made his first trip to North Korea in 2001 as part of a Singapore Manufacturers’ Federation abordnung and features maintained the contacts selection then. This individual believes will probably be “business as usual”, and he might improve talks along with his North Korean business companions on plans to take his sushi outlets there and bring North Korean cuisine to Singapore. In the year 2003, Sakae’s parent company Apex-Pal was on the Singapore Stock market. Apex-Pal’s meals businesses, that Sakae is the flagship brand, represented above 95% with the company’s earnings.
In August, Apex-Pal’s Initial General public Offering (IPO) set out sixteen. 5 mil shares, which 836, 1000 were pertaining to public investors and the snooze for institutional investors, clients and organization employees (Business Times, 2004). Production Procedure The rice used for the sushi dished up in our Sakae Sushi eating places, unlike many conventional sushi restaurants, is enriched with Vitamin Elizabeth. Their experienced chefs can easily produce a regular level of quality for all those dishes served in Sakae Sushi, hence raising the degree of confidence their customers have inside their restaurants.
To take care of high level of quality and freshness, organic food is usually not spun on the kaiten (conveyor belt) for more than an hour or so, and cooked food for over two hours. This normal of quality is taken care of through a color-coding system. Intended for the regular food, the staff can easily immediately identify plates, which has been on the Kaiten (conveyor belt) for too much time using our color-coded system. In relation to the premium reddish plate food, as the number of such superior dishes is a lot smaller when compared to regular food, our many chefs personally monitor these food using our color-coded system.
Their aim is to give their customers with unique, simple dining experience at Sakae Sushi eating places. The dual-directional conveyor seatbelt upon which the sushi meals are viewed was designed to the two maximize the seating space available and also to provide clients with effective service. Self-service hot water dispensers are located each and every table with each station of the kaiten (conveyor belt) for customers to fill their very own complimentary glasses of green tea herb.
Also installed is the online menu program at most with the restaurants from where customers can easily surf the menu that contain both drawings and information of the dishes before putting their requests directly together with the kitchen through the ordering program on the online menu. Wherever logistical issues affect the putting in the active menu system at any sales space portable, the intercom purchasing system is installed instead, hence maintaining the high level of efficiency operating. Sakae Sushi adopts a basic two-tier pricing structure in relation to their particular kaiten sushi.
Sakae’s straightforward price structure proved to be extremely popular. The majority of sushi dishes had been priced at S$1. 90 and premium food at S$6. 50, which in turn made Sakae more affordable than any other Japanese restaurants. Suppliers The decrease in purchases from them in FY 2001 and FY 2002 is a result of Sakae Sushi’s ability to protect alternative sources of those products at spend less. To reduce their reliance on Most Big Trading Co. and to diversify the supplier bottom for seafoods, they began to purchase seafood from Surapon Foods Public Company Limited and LianHup Fish Service provider Co. d FY 2001 and FY 2002 respectively. These acquisitions helped these people increase the proceeds, which was as well due to the embrace the number of Sakae Sushi restaurants. In addition to Marukawa Trading, they also purchased frozen foods from Tomo-Ya Japanese Food Trading, Shimaya Trading Pte Ltd and Moon Marine Singapore Pte Ltd who supply Sakae Sushi with frozen food products. The amount of acquisitions made by the organization from each of these three suppliers was comparatively constant for the last three economical years (Apex-Pal International, 2009).
The following are the suppliers intended for Sakae Sushi: All Big Trading Co. (All Big Frozen Meals Pte Ltd) , Seafood Marukawa Trading , Dried / iced food products Tomo-Ya Japanese Meals Trading- Iced food products Shimaya Trading Pte Ltd , Frozen food products Moon Ocean Singapore Pte Ltd , Frozen food products Surapon Foods Public Company Limited , Seafood LianHup Fish Vendor Co. , Seafood Staff training and requirements Sakae Sushi gives all new employees with a complete orientation and training which is specific for their positions.
New full-time procedures staff, because of their F, B outlets and, those of the franchises is sent to ITE-certified On-The-Job Schooling (“OJT) universities to be educated by Sakae Sushi’s unique OJT teachers. The OJT schools have been certified simply by ITE to be able to conduct OJT for our staff employed in their Farreneheit, B shops. Such teaching involves the courses and coaching of new employees simply by supervisors and managers through hands-on learning at the OJT schools. This sort of training allows new employees to develop the required skills within a short period of the time, without leaving their work place.
Apart from kaiten sushi, the restaurants as well serve ala-carte dishes. Every members in the service staff are skilled with the important skills and menu understanding to provide a steady level of customer satisfaction and to aid our buyers in meals selection as and when called upon for this. Sakae Sushi also conducts refresher training for their staff. Part-time support crew has on-the-job training by each of our qualified instructors (Apex-Pal Foreign, 2009). Expenses and Capital Requirements The key expenses of Sakae sushi are the purchase of the raw materials from its suppliers.
Since the unprocessed trash have no set cost N, B have to face variable cost of the raw materials. Since the prices of the items on the Sakae Sushi menu may not be changing continuously, Sakae sushi have to find different ways to keep their price range and bills. Every time Sakae sushi starts a new branch it has to fees certain costs like pieces of furniture, rent, labor, electricity, working costs and so forth Thus the administrative centre required to open every fresh branch differs from the others and may vary from places to places and from time to time. In the year 2011 Sakae Sushi put in around S$40, 000, 500 on the home, plant and equipment.
Likewise the labor cost in Singapore is definitely considerably higher than many countries, so it is harder to start an Farrenheit, B based business like a Sakae Sushi restaurant in Singapore. “balance sheet” (Apex-Pal, 2003) Income Assertion (Apex-Pal, 2003) Cash Flow Statement (Apex-Pal, 2003) Balance sheet and cash flow statement of the Sakae Holdings The Group’s money and bank balances as at thirty-one December 2011 stood for $6. 1 million, a decline of $6. 5 million during the year, due to improved investment in property, plant and gear with the structure of new central kitchen in Singapore and setting up of any headquarter in Malaysia.
The Group in addition has made investments in associates initially of the yr, which was funded by loans from banks. Shareholder’s value stood in $27. two million while at 23 December 2011 (Full 12 months Financial Declaration And Gross Announcement in. d. ). The Group was at a negative seed money position of $5. being unfaithful million as at 23 December 2011 due to initial revolving financial loans balance of $10. three or more million, which can be renewable in maturity. The Group offers repaid some of the revolving loans during the year (Full Year Economical Statement And Dividend Announcement n. d. ). Financial Shows A.
Real (‘000) Results200420052006200720082009 Revenue45, 16151, 90566, 64583, 83893, 80488, 817 Profit/Loss before tax2, 7964, 7436, 6973, 485(3, 695)3, 336 Profit/Loss characteristics to share holders2. 0853, 6845, 0812, 261(3, 748)3, 262 Non-current assets4, 8334, 62712, 43318, 51619, 87630, 852 noncurrent liabilities30128942159058610, 088 Investors equity10, 76213, 57620, 51516, 39811, 15320, 256 Net assets per share10. 0912. 7414. 4511. 557. 8614. 26 Revenue per share1. 963. 463. 741. 59(2. 64)2. 40 B. Anticipated (‘000) Results201020112012 Revenue71, 69583, 644. 1790, 058. 03 Profit/Loss before tax2, 893. 672, 909. 942, 604. 4 Profit/Loss attributes to share holders2, 104. 172, 107. 361, 844. 59 noncurrent assets15, 189. 5016, 915. 5818. 963. 68 noncurrent liabilities2, 045. 832, 336. 642, 677. 91 Shareholders equity15, 443. 3316, 223. 5616, 664. 81 Net assets every share11. 8312. 1112. 01 Earnings per share1. 741. 701. forty (*Projected Numbers based on prior year average) (Apex-Pal Worldwide, 2009) Managing Profile Plank of Directors Douglas Foo Peow Yong (Chairman and Chief Executive Officer) Foo Lilian (Executive Overseer and Executive Vice President) Andy Ong Siew Kwee ( Non-Executive and Impartial Director)
Lim Chee Yong ( nonexecutive and Self-employed Director) Chan Wing Leong ( Non-Executive and Impartial Director) Audit Committee Lim Chee Yong (Chairman), Chan Wing Leong, Andy Ong Siew Kwee Nominating Committee Lim Chee Yong (Chairman), Chan Side Leong, Douglas Foo Peow Yong Remuneration Committee Chan Wing Leong (Chairman), Lim Chee Yong, Douglas Foo Peow Yong Company Assistants Rachel Ng Meijing (CPA, Singapore), Chan Lai Yinb (ACIS) (Apex-Pal International, 2009) Board of Directors “Aboard of directorsis a body system of chosen or equiped members who have jointly supervise the activities of acompany(Robert, L., 2000).
Other names includeboard of governors, board of managers, board of regents, board of trustees, and board of visitors. It is often simply termed as “the board”. In a share corporation, the stockholders decide the plank and it is the very best management expert of a firm. In anon-stock corporationwith not any general voting membership, e. g., a university, the board may be the supreme regulating body in the institution (Robert, H., 2000). The duties of the table of owners of Sakae Sushi happen to be as follows: 5. Establishing guidelines and objectives. * Picking, appointing, supporting and critiquing the functionality of thecompany. Ensuring the availability of financial resources. * Granting annual costs. * Accounting for the performance in the company. 2. Managing wages and settlement of the employees. MANAGEMENT: Mister. Douglas Foo Ms. Foo Lilian Mister. Lim Chee Yong Mister. Andy Ong Siew Kwee Mr. Chan Wing Leong MR. DOUGLAS FOO (Chairman and Leader Officer) Mister. Douglas Foo has been a Representative of the Group as 17 February 1997. Since Founder and CEO from the crew, he handles the overall administration, strategic organizing and organization development features of the Group. Mr.
Foo started his career as a marketing executive but with his talent and pioneeringup-and-coming skills having been able to think of an idea of opening a garment trading business that was not really effective, so a year later he considered getting into the food and beverages industry by simply opening the first subset of Sakae Sushi and provides since designed Apex- Pal into a successful enterprise that it can be today (Apex-Pal International, 2009). MS. FOO LILIAN (Executive Director) Ms. Foo Lilian was appointed as Sakae Sushi’s Executive Director about 2nd May 2002 and is responsible for the general management from the Company. Ms.
Foo grips the Group’s leasing, organization development and legal matters. She is likewise responsible for the consultancy, repair and r and d work for all IT-related matters of the Group. In 1997, Ms. Foo became a member of the Central Provident Finance Board in which she was a database supervisor until March 2000. In addition, she worked with the Keppel TatLee Bank Limited as an assistant manager. Ms. Foo left Keppel TatLee Bank Limited to join Sakae Sushi in January 2001 (Apex-Pal Worldwide, 2009). MISTER. LIM CHEE YONG (Independent Director) Mr. Lim Chee Yong was appointed since our Impartial Director for Sakae Sushi on bastille day 2003.
Coming from October 1982 to The spring 1987, Mister. Lim dished up as a mature corporate bank officer in Overseas Union Bank Limited. In May 1987, he signed up with Banque Paribas, Singapore Part as a mouthpiece manager of banking, where he stayed until April 1989. He was hired an exec director of Alliance Technology and Creation Limited, an organization listed on the Primary Board of the SGX-ST, in-may 1989. Mr. Lim still left Alliance Technology and Creation Limited in March 2150. Mr. Lim is also an independent director of Twinwood Engineering Limited, a business listed on the SGX- CATALIST, by 1997 to 2007 (Apex-Pal International, 2009). MR.
ANDY ONG SIEW KWEE (Independent Director) Mr. Andy Ong Siew Kwee was likewise appointed as Sakae Sushi’s Independent Movie director on 14 July 2003. Mister. Ong may be the CEO of ERC Holdings Pte Limited. ERC is actually a leading participant in the education industry in Asia. This individual oversees the regional development as well as the combination and obtain activities from the firm. He’s also the Founding President of the Monetary Planning Relationship of Singapore, a professional body for financial services that issues world-renowned Certified Financial Adviser marks. He has crafted several best selling books in financial administration and organization (Apex-Pal Foreign, 2009).
MISTER. CHAN SIDE LEONG (Independent Director) Mr. Chan Side Leong was appointed while an Independent Director on 30 April june 2006. Mr. Chan holds a great honors degree in Economics from the College or university of Singapore. He started his career inside the Administrative Service of the Singapore Government in 1981, and has kept stints in several government posts in the Ministry for Trade and Industry and Economic Development Table, as well as in Government- linked Organizations. Mr. Chan was a great investment banker back in the 1980s to 1995 in Schroders PLC and Brokers Trust Corp in both equally Singapore and Hong Kong.
In 1995, he returned to Singapore to get Chief Financial Officer of Sembawang Organization until 2001 (Carter, 2008). Funding Request and Exit Strategy In December 3 years ago, Sakae exposed its initially outlet in the United States at the The chrysler Building in New York, it is 61st store worldwide. Primary S$3 , 000, 000 had been invested by Apex-Pal in the outlet. The outlet did not to very well because of tougher times and so they have since then shut down their very own operations in USA. At first, because of the company’s small size, Mr. Foo’s strategy for Sakae’s expansion was going to enter into franchise agreements.
While the company grew, the company likewise utilized a strategy of overseas direct investments in those countries where this sort of investments had been feasible and also welcomed by the respective government authorities. Global financial crisis occurred in 2008 and Sakae found their margins decreased by substantial prices pertaining to commodities such as rice and vegetables. The corporation cut salaries and business pay but decided against staff layoff. A profit of S$2. several million in 2007 was followed by a net loss of S$3. 8 million, in 2008 as a result of rising leases, salaries and commodity costs. It was Apex-Pal’s first gross annual loss.
Sakae introduced cost cutting actions such as finding new food suppliers, lessening waste and tightening various other operational methods. The company delivered to making income in 2009, publishing a S$3. 3 mil profit. Risks and Contingency Planning The Starting Point It is important that any organization usually takes development and maintenance, tragedy recovery and business continuity plans really. It can not be left until it develops to a serious problem. Influence Assessment One of the first tasks being undertaken is to prepare a extensive list of serious issues that can affect the normal functions of a organization.
This list should include all possible issues no matter how likely they are to occur. Since Singapore is an island one of the major risk elements can be surges. Developing the program Once the examination stage is over, the composition of the prepare can be set up. The plan will contain a selection of milestones to maneuver the organization coming from disrupted status to return to typical operations. The first essential milestone is around dealing with the aftermath of your disaster. Another stage is usually to determine which usually business functions need to be resumed.
The plan will probably be detailed, and may identify essential individuals who ought to be familiar with all their duties (The Contingency Organizing Guide, 2002). Testing the master plan Once this plan has been created it must be put through rigorous tests. The testing process must be effectively planned and should be completed in a suited environment to generate authentic circumstances. Those who will undertake the activities with the business should test the routine. The test techniques should be noted and the effects recorded. This is very important to ensure that responses is attained for fine-tuning the Plan.
Employees Training This kind of stage depends upon the development of the routine and the effective testing from the plan. It is crucial that all employees are aware of the plan, its content material and their very own related responsibilities and obligations. Again, it is vital that all workers take the devastation recovery prepare seriously, even if the events that would trigger the program seem improbable. Obtain feedback from staff in order to make certain that responsibilities and duties happen to be understood, especially those that need dependency in others actions (The Contingency Planning Guideline, 2002). Keeping the Plan
The master plan must always end up being kept updated and appropriate to current business circumstances. This means that any kind of changes to the company process has to be properly reflected in the program. Someone should be assigned responsibility for making certain the plan can be maintained and updated frequently and should therefore ensure that info concerning changes to the business method are correctly communicated. Any kind of changes or perhaps amendments designed to the plan must be fully examined. Everyone needs to be kept abreast of such improvements that influence their obligations (The A contingency Planning Guide, 2002). Suggestions To develop business in America and to attract American customers it is necessary for the Sakae group to develop a few American friendly food just like Sakae beef burgers, sizzling dogs, proceeds and other meals loved by the folks there, this will likely affect the income that Sakae can make for the reason that country. * In countries like North Korea, they have to find neighborhood partners to work out a good franchising option. * Conduct even more on the job training activities to enrich the employees to receive all the required skill to exceed in their job. * Expand their item base and standardize goods across all of their branches to lessen their costs. Execute extensive researching the market to identify the target market and develop products according to the needs of their consumers. * Tie up with other foodstuff, beverage agencies to promote and diversify their very own brand. 2. Sponsor events like marathons, blood gift drives and cultural festivals to attract the masses especially the younger era to get involved with Sakae Holdings. 2. As part of Corporate and business Social Responsibility, Sakae Holdings should adapt eco-friendly techniques like taking, reusing and reducing the waste made.
Also they will contribute towards the environment by simply implementing economical practices just like maintaining a continuing temperature of 24 certifications while using air-conditioner. * By simply working with their suppliers they can research and develop new ways to store their particular inventories effectively by keeping that fresh and ready to use. 5. They should also develop strategies to minimize their particular transportation cycles and also save on fuel costs and reduce their carbon footprint. Appendix 1 ) 1 The 4P’s of Service Advertising References Apex-Pal International. (2009). Going Global- 2009. Gathered 4 five, 2012, by Apex-Pal: http://www. apexpal. om/Files/Apex-Pal%20AR09%20for%20SGX. pdf Apex-Pal. (2003, almost eight 18). The Innovative N, B Persons. Retrieved some 5, 2012, from ventosear. zaobao. com. sg: http://ir. zaobao. com. sg/apexpal/pages/doc/apexpal_ipo_prospectus. pdf file Apex-Pal Intercontinental. (n. deb. ). Precisely Hot. Recovered 4, 5, 2012, via Sakae Sushi: http://www. sakaesushi. com. sg A simple goal ” as the McDonald’s of sushi. (2004, February 9). Business Occasions. Retrieved March 9, 2010, from Factiva. Carter, M., “Overview of Roles and Responsibilities of Corporate and business Board of Directors”. Cost-free Management Selection. Authenticity Asking, LLC. Retrieved 2008-01-26. Fugitif, N., 2009.
Capon’s promoting framework, Wessex Publishing. Dalrymple, D. J., Parsons, M. J. (2000). Sales promotion and public relations. In Dalrymple, D. J., Parsons, D. J., Fundamental Marketing Administration (pp. 272-276). New York, Usa: John Wiley, Sons. Japan-guide. com. (2008, 05 31). Sushi. Recovered 04 12, 2012, coming from Japan-guide. com: http://www. japan-guide. com/e/e2038. html Lamb, C. W., Frizzy hair, J. N., McDaniel, C. (2008). Requirements of Marketing. Cengage Learning. Lovelock, C. They would., Patterson, L. G., Walker, R. H. (2007). Understanding service goods, customers and employees. In Lovelock, Patterson, P. G. Walker, L. H., Solutions Marketing (pp. 26-30). NSW, Australia: Pearson Education Down under. Robert, L. (2000). Robert’s Rules of order newly revised. Philadelphia: Perseus Club. Sakae Loge Ltd. (2012, 2 28). Retrieved 4 5, 2012, from http://www. finanznachrichten. de: http://www. finanznachrichten. de/pdf/20120228_172124_5DO_752F7CDF0A7BD282482579B2002082FC. 1 . pdf The Contingency Planning Guide. (2002). Retrieved 4 5, 2012, from http://www. contingency-planning-disaster-recovery-guide. company. uk Theresianto, N. (2008, February 11). Apex-Pal grows its Sakae Sushi disposition. The Edge Singapore. Retrieved Mar 9, 2010, from Factiva.