Sheng Siong
Introduction Of Sheng Siong Company
One of the successful supermarkets in Singapore is Sheng Siong, established in 1985 by Lim brothers (Hock Eng, Hock Chee and Hock Leng). Since the early years, Sheng Siong set the mark by selling quality and low quantity product. From a daily turnover of S$3,000, it grew to S$19,000 within short years of being in business. Sheng Siong opened second outlet in Bedok in 1987 and third store in Woodlands followed in 1995 and sales at two outlets grew to around S$50,000 daily. In 2008, its objective had achieved such as S$600million in sales and ranked third-large retailer in Singapore by sales analysis in survey.
Sheng Siong firstly corporate as private company named “Sheng Siong Group Pte. Ltd” but on July 4, 2011 it was changed to public company “Sheng Siong Group Ltd”. They have total of 23 supermarkets and hypermarkets that provide consumers with both “wet and dry” shopping options arranging from a wide assortment of fresh and chilled product, such as groceries to packaged and processed food products. Nowadays, they have over 300 products under 10 retailers with qualified brand name, portfolio of well-recognised house brands, global sourcing network, and good quality on assortment.
The Environment Factors That Affect The Operations and Business
Demographic Trends The population characteristics and trend may have big impact to supermarket current and future business. Total Singapore 's population reached 5.3 million which mean the annual growth increase approximately 2.5% on population. In addition, 45.4% of Singapore 's populace are foreigners, which is the around sixth highest proportion of foreigners in worldwide (The Business Times, 2012). Therefore, Sheng Siong products are determined by the increase of growth.
Political/Legal Forces Government actions take place also has impact on firm by issue a regulations. Sheng Siong Supermarket need to register a license from International Enterprise Singapore in order to
One of the successful supermarkets in Singapore is Sheng Siong, established in 1985 by Lim brothers (Hock Eng, Hock Chee and Hock Leng). Since the early years, Sheng Siong set the mark by selling quality and low quantity product. From a daily turnover of S$3,000, it grew to S$19,000 within short years of being in business. Sheng Siong opened second outlet in Bedok in 1987 and third store in Woodlands followed in 1995 and sales at two outlets grew to around S$50,000 daily. In 2008, its objective had achieved such as S$600million in sales and ranked third-large retailer in Singapore by sales analysis in survey.
Sheng Siong firstly corporate as private company named “Sheng Siong Group Pte. Ltd” but on July 4, 2011 it was changed to public company “Sheng Siong Group Ltd”. They have total of 23 supermarkets and hypermarkets that provide consumers with both “wet and dry” shopping options arranging from a wide assortment of fresh and chilled product, such as groceries to packaged and processed food products. Nowadays, they have over 300 products under 10 retailers with qualified brand name, portfolio of well-recognised house brands, global sourcing network, and good quality on assortment.
The Environment Factors That Affect The Operations and Business
Demographic Trends The population characteristics and trend may have big impact to supermarket current and future business. Total Singapore 's population reached 5.3 million which mean the annual growth increase approximately 2.5% on population. In addition, 45.4% of Singapore 's populace are foreigners, which is the around sixth highest proportion of foreigners in worldwide (The Business Times, 2012). Therefore, Sheng Siong products are determined by the increase of growth.
Political/Legal Forces Government actions take place also has impact on firm by issue a regulations. Sheng Siong Supermarket need to register a license from International Enterprise Singapore in order to
Cited: www.channelnewasia.com/stories/singaporelocalnews/view/1087846/1/.html media, 1 December 2012) This causes Sheng Siong to waste time and resource on there. Feedback control is common in every companies as well as Sheng Siong, but it is the least useful type of control. Feedback from consumer is giving Sheng Siong the information from past performance. Consumer complaints about quality of product are common type of feedback control. General Conclusion Environmental changes such as demographic, political, technological, and economic developments might affect the strategic perspectives. Therefore, Sheng Siong need to increase the productivity, economies of scale, quality and profitability. It also needs to increase the strong and well-established relationships with the suppliers and contract manufacturers. Other than that, Sheng Siong also need faces those factors that can hardly affect the company and find solution to solve it. Sheng Siong can achieve a good corporate social responsibility by having the activities and event for recycling and the use of environmentally friendly products. Good corporate social responsibility can influence stakeholder to become loyal customer and become supportive of company 's products. Company with good planning, organising, leading, and controlling the overall of system can also easily achieving the mission and vision. General Recommendations Sheng Siong can open more store in overseas which can enhance economies condition and capitalize on Sheng Siong Company. It also can provide more training programs such as job rotation to learn some knowledge from different kind of job that can motivate employee with strong drive. Information technology system needs to be upgrade in order to manage the operation well. Other than that, increase the purchase direct to product sources which to eliminate the middleman expense and reduce the costs, as well as increase the quality and freshness of the products. Other than that, selection of house brand products can be expand by establish relationship with new contact manufacturers to increase different new selection and types of house brands products. Feedback from consumers needs to be control in order to get satisfaction from them. Sheng Siong can also hired more key management personnel with extensive experience in grocery retailing industry. Company need to take more action to solve the problem happen in wet market by manage the cleanness of market and stop the mosquito breeding.