Welcome to Scribd, the world's digital library. Read, publish, and share books and documents. See more
Download
Standard view
Full view
of .
Save to My Library
Look up keyword
Like this
41Activity
0 of .
Results for:
No results containing your search query
P. 1
Where Creativity is a Bread and Butter Issue

Where Creativity is a Bread and Butter Issue

Ratings: (0)|Views: 6,361 |Likes:
Published by firestar76

More info:

Published by: firestar76 on Mar 09, 2010
Copyright:Attribution Non-commercial

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
download as DOCX, PDF, TXT or read online from Scribd
See more
See less

03/31/2013

pdf

text

original

 
Where Creativity Is a Bread and Butter Issue
BREADTALK GROUPBreadtalk first made waves when they entered the bakeries market all over Singapore in the year 2000, bring in a totally new concept of bakeriesbusiness into Singapore.
1. From a classic rags to riches tale
Born in 1957, MR. George Quek was a son of a humble vegetable farmer who later became a seaman and a housewife mother. Together with his 3brothers, they stayed in a rented wooden attap hut in Hougang.As a boy Mr. George slowed no inferred in studies whereby in his report cardyou could see more red than blue marks. He rather prefers to dabble with apencil and drawing board. His creativity ignited into a passion for artisticpursuits. Once completed his “o” levels he enroll himself to Singapore ArtAcademy and worked as a cable technician to pay his fees. After graduation,he was enlisted for National Service. He signed on as a regular in the Army atthe age of 20. The Army has taught him to be tough and strong withendurance and determination and eventually emerged as a companysergeant major, upon leaving the Army, he worked in a Hong Kong handicraftshop in Parklane Shopping Mall. Where he did wood carving metal engravingand also move dragon-bread candy. In 1982, Mr. Gorge Quek left for Taiwanto further his art education. But destiny had no plans for him when he realizedhe could not afford the 6000 dollars enrollment fee. With the remainingmoney, he set up a single pushcart stall selling “Dragon Bread Candy” inTaiper Department Store. The snack failed to “bite” at that p, feeling the sheer horror that he might not have money for a return-ticket home desperate for new invention and creativity. Slowly he began to “feel” the tasebud andpreference of the Taiwanese customers. Though trials and errors, he modifiedhis sales pitch, marketing, flavors and presentation accordingly businessflourished.2 years later from one single cart outlet it expanded into 4 more push-cart withthe sales over $240,000 a month. Emboldened by his “initial success”, hecame back to Singapore and invested $100,000 in Singapore’s howker food bak chor mee and fishball noodle”, he lost a huge portion in the early stage.Refusing to throw in the towel, eventually the venture paid off in 1992, andhad since grown into 21 outlets. He sold off his business and started an ice-cream chain parlour in China, which was again successful. Mr. Quek and hiswife Katherine feeling homesick after too many years in China, decided topack up and head home.Back in Singapore with his years of experience in F&B, he engaged a fewTaiwanese partners and set-up the first Singapore style modern food court in
 
Bishan function 8 in 1994. The venture was a sweet success and within a fewyears, over 15 such food courts up all over Singapore and overseas.
2 Entrepreneurship
Mr. Quek’s achievement so far had been an Astounding success and he could jolly well “retire” comfortably yet, he was never contended.While in Taiwan and Japan, he noticed the “popularity” of “designer-breadboutique” outlets among the people.So in the year 2000, brought in the “designer bread boutique concept” ( an“open kitchen concept”) whereby the breads are presented in elegant clear glass boxes that resemble jewelry showcases creating a bright-lookingfluorescent lit-boutique which allows people from outside the shop to look inand watch the chefs making the delectable bread and pastry concoctions fromstart to finish. Customers also enjoy a breezy and trendy ambience in thesebakeries. The walls are splashed with a clinical white and the bread andpastries are displayed on sleek white plastic and glass shelves, life clothes ondisplay in a department store, creating a wonderful potpourri of colours andsmells that attract long queues of people round the clock. Stylish plasticcarriers used for purchases are trendy looking and carries over the minimalistconcept.Equipped with the new staple of the art bakeryEquipments specially imported from Germany, Spain and Japan, the fasts,aroma, quality and texture consistency of our breads are further enhancednew staff uniforms with French and Japanese influence and biodegradableand Environmentally friendly packaging for all our products complete theentire “ new look”.Breadtalk has become a “distinctive Singapore brand” that has gainedInternational Appeal and renowned for the way it has revolutionized theculture of bread consumption with its visually appealing, aromatic and unique-fasting products.From 2002 to 2004, the Breadtalk was recognized as one of the mostrecognizable Local Brands in Singapore, was awarded the followings: 1)Singapore Promising Brand Award; 2) Singapore Most Popular Brand Award2002; 3) Super Brand (2002/2003); 4)Enterprise 20 start-up Awards (1
st
); 5)Singapore Most Distinctive Brand Awards (2003-2004): 6) Design for AsiaAwards 2004; and 7) Most Transparent Company Awards 2004Mr. Quek was conferred an Honorary Business Doctorate by the WisconsinInternational University in recognition of his entrepreneurial creativity andsuccessful career record in May 2002. On 10
th
July 2002 he was the joint
 
winner for the entrepreneur of the year 2002. Eventually he brought Breadtalkto list on the SGX in 2003.Using the current socio-political-economic outlook, I will examine Breadtalkexternal general and industry environments, internal analysis of the companyas well as provide an assessment of the performance of the company in termsof the company in terms of efficiency, effectiveness and returns to investors.
3 .1 External general and industry environment
3 .1 Political FactorsIncreasing globalization and loosening trade barriers, presents a challenge aswell as an opportunity to Breadtalk. The challenge will be to compete againstunknown forces and to source the best quality/financially viableproducts/ingredients from world over. Breadtalk can enter the markets of emerging companies through joint ventures or partnerships to explore thesenew markets especially those in the less developed Asian markets wherebread could be a luxury. However, understanding the other countries’ dietarypreferences would be needed to help BreadtalkMoreover, Breadtalk may stand to lower its costs as governments begin tolower taxes or provide subsidies to help businesses stay afloat in thiseconomic crisis and landlords reduce rents or provide rental rebates to keeptheir tenants.3 .2 Economic factorsThe fluctuating commodity and raw material prices all over the world result inrising purchasing costs for Breadtalk. This will have an impact on the marginsof the organisation and might lead to passing over the cost to consumers byincreasing prices of most things in the supermarket. Furthermore, rising fuelcosts will have implications right throughout the supply chain of Breadtalkleading to an overall situation of increasing prices, resulting in decreasedcompetitiveness. At the same time, the monsoon season may also have anegative impact on prices as crops are destroyed and supply decreased.The credit crunch can impact Breadtalk negatively as it might decrease thepurchasing power of consumers and though they will still buy the essentialsthey may be more cautious. Furthermore, Breadtalk’s fast expansion needs tobe fueled with cash injections and given the latest Dubai crisis, investors andbankers may hold their cash and be less willing to lend.At the same time, Breadtalk may also face stiffer competition from local smallretailers who offer bread at more affordable prices albeit less delicious or varied- something which will appeal to cost conscious consumers. At the

Activity (41)

You've already reviewed this. Edit your review.
1 hundred reads
1 thousand reads
anahita_A liked this
anahita_A liked this
Janffany Lo liked this
Janffany Lo liked this
Janffany Lo liked this
Janffany Lo liked this
Janffany Lo liked this

You're Reading a Free Preview

Download
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->