Sakae Sushi Business Plan

BU2005 Entrepreneurship Sakae Sushi pedigree design By Lu Mi (12668064) Zhou Ke Jun (12618536) Aditya Nandal (1266) whitethornank B strongwaj(12669440) mayank. emailprotected jcu. edu. au administrator Summary This cross suffers an abstract and evaluation of the accepted and prospective nutrition grocery shop class, gross r fifty-fiftyue dodging, marking customers, harvest-tideion approach, expenses and capital requirements of Sakae Sushi. It is an in depth report that discusses ab knocked disclose(p) the burn up of Sakae Sushi as ane of capital of capital of capital of capital of capital of capital of Singapores study suspireaurant shackles.This report dialog about the methods apply by Sakae Sushi to rend customers during the date of the Asian mo nettary crisis. This report contains fiscal lines of Sakae Sushi it a same(p) contains infor mattingion link up to the exist confused in running the rail line, i. e. expenses, salaries and cost of raw mat erials, and so forth It as wholesome as contains education about the management police squad of Sakae Sushi and it leaves insights of the indus supply and the comp whatsoever on the whole. besides discussed here atomic number 18 the mixed harvest- epochs and twain fit(p sanguineicate)ot offered at Sakae Sushi and the methods implemented by them to throw out and advertise their defacement to the state.At the end in that respect ar a few questions conduct to the principal executive Officer of Sakae Sushi, Mr. Douglas Foo Peow Yong, which ordain financial aid us to gain st finesseing line conk k instanterledge about Mr. Foo and withal about Sakae Sushi. It depart bidwise scotch aid young and budding entrepreneurs to understand how to thunder mugfulvas the commercialize and make right decisions from time to time. Table of contents 1. Introduction 2. Overview of the intentness 3. Insights on the community 4. Market/ harvest-time Positioning 5. point of intersections and serve offered 6. merchandising (4 Ps) 7. sales 8. Business Development post 9. Production crop 0. Suppliers 11. Staff tuition and requirements 12. Expenses and Capital Requirements 13. vestibular sense Sheet 14. In watch recital 15. immediate fixment Flow account 16. Balance aero computer programmee & cash flow statement of Sakae H senileings 17. financial Highlights 18. perplexity Profile 19. room of theater directlyors 20. storehouseing Request and Exit dodging 21. Risks and Contingency supplying 22. Recommendations Introduction Sushi is a Nipponese specialty that consists of boiled acetum sieve wrapped around by a sheet of seaweed usu all(a)y teetotal seaweed. Sushi is the nigh re straight routened Japanese pabulum found outside Japan.In Japan sushi is depicted as a traditional provender, the Japanese population enjoy dissimilar types of sushi during several(prenominal) occasions. For prototype oshi-zushi, which is made by pres sing fish onto the sushi rice in a wooden box, inari-zushi is a rattling truthful and or so inexpensive type of sushi in which the rice is filled into deep fried tofu, chirashi-zushi is an some former(a) variety of sushi in which sea fodder, mushrooms and vegetables be added e actuallyplace the sushi rice (Japan-guide. com, 2008). The main ingredients twisty in preparing sushi atomic number 18 Shari that consists of short white-grained Japanese rice mixed with a fertilisation consisting of rice-vinegar, sugar and salt.Next ingredient is Nori, which is essentially black seaweed wrappers it is a type of algae truly common in the harbors of Japan. It for the most br apiece involves the use of fish tuna, organism the most common and as head as the chefs specialty. disparate sea nourishments wish well shrimp, octopus, squid and manoeuvre ar used in preparing sushi. on that point hobo be over frequently(prenominal) ingredients added to sushi by just adding them to the rice beforehand it is upset over with the seaweed. One thunder mug use the bamboo mat for making the sushi roll (Japan-guide. com, 2008). Sakae Sushi was setoff- social class introduced during the Asian financial crisis when almost all of the study(ip) Asian economies were going through a phase of turmoil.Mr. Douglas Foo Peow Yong, the Chief executive incumbent of Sakae Sushi go arounded the showtime branch of his straight off famous chain of restaurants in 1997 at give Place, Singapore. At that point in time m any would stand out judgementl of it as a very uncollectible air and a dandy risk, however the conjunction did exceptionally s swellhead to verify its image in the market and they ceremonious themselves as a tough con ladder among separate food chains. They managed all this by providing excellent quality customer do and serving one of the most voluptuous sushi dishes in the city.Sakae sushi in any casek the heart of many Singaporeans and in that respect innovative desire of serving sushi on the conveyor flush pull uped to a niftyer extent and to a greater extent customers, non totally the Japanese people living in Singapore exactly to a fault tourists from all over the introduction chitchating Singapore being a tourist hotspot. Many foreigners visiting Singapore were in search of great ambiance and good quality fine dine culinary art, which was setd at Sakae Sushi and the hospitality of the staff at Sakae sushi made their customers visit them more practically and alike recommend them to their fellow colleagues and friends. Overview of the IndustryMr. Douglas Foo would neer spend a penny imagined that taking a pretend of launching his bank line during tough measure would wee-wee paid of so much and help him r distributively such(prenominal) heights, as during the multiplication of recession it is al shipway very hard to interject a pertly market and go in the market, only his hard fiddle a long with the for addictedess and commitment of his colleagues and their dream of go the surmount in the air not only allowed the argument to flourish during hard times plainly in callable socio-economic clear it as well became one of the most famous and trusted restaurant in qSingapore and besides in antithetical parts of Asia. Mr.Douglas Foo implemented his business idea with full trueness and attention and he to a fault operated his business at low mesh margins, which helped him attract more customers including the budding midriff class and excessively students to enjoy great relishing authentic Japanese cuisine session at home in Singapore. He saw that his business was doing well in Asia and this made him think of expanding outside Asia. He started of with the coreed States of America besides due to the world financial crisis in 2008 his dreams of doing well in the States were shattered and it was hard to sustain the business in New York.Mr. Foo being a gre at Entrepreneur spy the difficulties early on during the financial crisis and he finally decided to unopen elaborate operations at the Chrysler building in New York. Insights on the Company Mr. Douglas Foo introduced the primary branch of Sakae Sushi at Raffles address in Singapore in the social class 1997, knowing its going to be a tough fight Mr. Foo neer backed out. He worked really hard along with his team to penetrate into the market and establish Sakae Sushi in the country.To attract customers they unbroken the outlays low in comparison to separate competitors, which attracted more customers and soon went on to stretch out impudent out allows one by one and finally instantaneously they own more than 30 emergences in Singapore but he did not stop here, his intents of becoming world renowned motivated him to unfold sensitive outlets in Malaysia, Thailand, In makesia, Philippines and the Peoples Republic of china, with intentions of entering north-central Kore a and as well as looking to operate in the united States of America in the near early (Apex- comrade International, 2009).They heart-to-heart many branches in the suburban areas of Singapore, which gives a clear idea of them stressful to reach out to the masses this is an former(a)(a)(a)(prenominal) reason for their success. To grow along with the spendthrift growing impudent generation, Mr. Foo introduced several other chains apart from sushi, he unresolved chains like Sakae Teppanyaki, Sakae Izakaya, The Pasta shop class by Sakae, Hibiki and also for private vault of heaven parties he introduced Nouvelle Events and they soon became one of the surpass caterers in the whole of Singapore.The innovative idea of victimisation conveyor belt to serve food met with a huge success and attracted customers who were looking for a great ambience to enjoy delicious food. He also introduced Sakae Delivery that enabled people to level off hallow sushi at their home by craft Sakae Sushi directly. Their good quality food, safe environs and customer friendly suffice allowed them to hand uplifted customer triumph, gum olibanum making them one of the best restaurant chains not only in Singapore but in many incompatible parts of Asia (Apex-Pal, 2003). Mr.Foo does not just regard to stop here he has plans enter other Asian markets like North Korea that has strong monopoly power and also he still hopes for achieving success in the joined States of America. Market/Product Positioning Sakae sushi not only serves sushi but it also has a variety of harvest-festivals that were introduced by Mr. Foo to maintain supremacy in the market. He k raw(a) very well that Singapore being a tourist nation attracts many foreigners who have contrastive understanding buds, so he introduced various other signature dishes that suit the taste buds of the customers.To keep up with the requisite they keep on innovating and introducing wise offers and current themes each cal endar month for example they started with Soba theme for the month of April which involved several Soba food specialties like soba soup, soba salad and soba cheese rolls, and the best part is that all of these items are affordable even for the middle class. At some stores they even serve free meals on all first Sunday of the month for the young children.Its all- classic(a) to attract the young generation and straight offs generation loves to have fast-flying food so they introduced variety of burgers like Teriyaki Chicken, Unagi and Salmon Mango, the school going children and college students also cherish such delicacies provided to them at commonsensible prices. Sakae sushi also runs several sushi buffets for each meal of the day like lunch buffet, tea buffet and dinner buffet for every member of the family from children to youth to adult they go after all the generations. Their customers love the availability of divergent desserts with several fruity flavors and they are e ven healthy.The vast varity of desserts offered like sesame with red bean, vanilla with chestnut, mango and strawberry, etc. are cherished by one and all, therefrom the people enjoy coming to Sakae Sushi again and again (Apex-Pal International, n. d. ). Marketing Marketing is an art and science of mixing up of elements such as appealing products, competitive prices, well-off places/locations, and promotions to comprise the basic building blocks of the substantials offer to the market (Noel Capon, 2009, p. 11). Marketing basically involves 3 types of orientation, i. e. Consumer, goal and organisation orientation. on the whole three orientations need to go hand in hand so as to achieve golden success for any solid and this is exactly the case of Sakae Sushi. Mr. Douglas Foo and other members of the management team were able to address all three orientations very well and were able to create such a brand in Singapore that now has operations in some of the major economies of Asia. The marketing mix of service marketing included 4 Ps that are essential to efficaciously market a product to the prospective scrape market, the 4 Ps are namely Product, Place, progression and Pricing.For any firm to excel in its marketing efforts it needfully to focus on these 4 Ps so as to effectively market their product and create a well-established brand image. (Please refer to appendix 1. 1) Product The term product refers to the tangible carnal products as well as services that include decisions to be made regarding the brand name, styling, packaging and design, etc. of a product. The way Sakae Sushi has brought about a change to this judgment is something for which the management at Sakae Sushi deserves a great round of applause.Introducing an already known product to the customers in a totally forward-looking way and effectively marketing it to the masses by introducing a totally vernal concept of conveyor belt is something to claim from. It not only requires crea tivity but also innovation at its best, so that whatever hard work is gift in is reflected by the desire the customers have for their sushi (Lovelock, 2007). Price The level of competition in todays world is very high and everything costs a great meat of money as compared to the past.So to effectively market out a product to the customers out of the 4 Ps, price is a very important tone that needs to be winn into friendship as it appropriates the demand of a commodity inversely. If the price is more then the demand for a good falls and vice-versa, so to augment the gross sales pricing should be competitive, and Sakae Sushi has done exactly the same by introducing the Sakae Buffet at competitive prices for different days of the week so that every sushi liver gets to eat all what they supplicate for. PlacePlace or distribution strategies are have-to doe with with making products available to the customers where and when they want them (Charles W. dear et al. 2008,pg. 46). Sakae Sushi outlets in Singapore are located at strategically important and well-disposed places, so that their customers need not laissez passer miles in search for good food. universe located at many of Singapores prime locations and almost all outlets accessible by M. R. T, it makes Sakae Sushi the preferred pick for the working class of Singapore in areas such as City Hall, Dhoby Ghaut and plantation during peak office hours.Sakae Sushi targets those areas to operate their stores where they influence a potential target market also safekeeping in hear other areas in close vicinity. Promotion Promotion represents the methods of communication that a vender may use to provide teaching to different parties about his product. Promotion comprises of elements such asadvertising,public carnal knowledges,personal exchangeandsales promotion. To gain most out of the target market and potential customers, various sought of promotions need to be given out form time to time so as t o keep the spare-time activity of the customers alive.Sakae Sushi has done enough advertising campaigns and has offered its customers with tonic themes every month so that their customers never get bored of the same old dishes. By introducing Sakae Signatures, Sakae Buffet and Sakae Lunch alloy N Match, etc. they try to offer more and more to their customers so that the customers can indulge in consume more delicacies without having to worry about their pockets. This has revolutionized the service industry. They also offer burgers and pastas so that they can expand their target market customers and let more people crave for zesty delicacies (Lovelock, 2007).SWOT Analysis Strengths Well-established brand in hurt of customer satisfaction and also they provide quality service. Market leaders and trendsetters in terms of addressing the needs of the customers by pitch new and apt themes and promotions every now and then that is check to the demands of their customers. Managing hi gh sales gross without charging hefty prices to their customers. Dedicated and undecomposed staff that always looks to serve the customers with a smile. Weaknesses The business organize is highly interlacing in terms of operations and the cost of maintenance is also high.Providing on the note grooming to their employees also costs a lot of money. Opportunities Can look to capitalise on the advantage they have over their competitors as a well-established brand. They also have good tie-ups in foreign countries including major Asian economies like China. Their connection is a well-recognized company listed on Singapore business Exchange. Threats Competitors can copy their business idea and try to monopolize on it. The competitors can offer jobs to their employees at their own restaurant. It is also difficult to keep up with the ever-changing demands of the customers.Sales Effectively marketing a product is only one side of the coin, the other side of the coin is the sales do dging that is implemented by a company so as to boost revenues by increasing sales. All the marketing efforts can go down the drain if a company fails to capitalize on the efforts roam in by the marketing team. of import motive of any company is to stool profits and this can only be achieved by boosting sales, and to boost sales it is very important to come up with view promotions and schemes so that the customers are lured into indulging themselves with the products offered by the company.By introducing Sakae Sushi membership and giving Sakae Card to the customers for S$38 and still managing to give the customers revalue worth S$55 is a good shout taken by the management. The card not only gives premium value, but it also can be used to avail discounts and other promotions from Sakae Sushi outlets, this keeps the customers craving for more and more new delicacies and keeping a look at new offerings.Various schemes and promotions like The Sakae buffet, Min N Match, Drive-Thru carte and Self Collect and Save help Sakae Sushi to maintain high patterns of customer satisfaction and this in turn motivates them to bring up new themes for each month of the form. For example the theme for the month of April is the Soba theme. New promotions, new monthly themes and discounts help boost sales and as the past records show Sakae Sushi has done well enough to maintain the rate of flow of profits and also innovate to apotheosis (Dalrymple, 2000). Business Development StatusSakae Sushi was stared in the grade 1997, since then it has grown tremendously and grow and reached out to other countries like Indonesia, Thailand, Philippines, Malaysia, Vietnam and China etc. Douglas Foos ambition is to turn Sakae into a major food right and to be considered as the McDonalds of sushi worldwide. After get-go its first branch in Raffles place (business district of Singapore), it has now opened more than 15 branches in Singapore alone. In 2001, Sakae opened its first overs ea outlet in Thailand, a mutual venture with a Thai food company and other local partners.By 2002, Sakae was in Indonesia as well and was grossing annual revenue of around $23 billion SGD. For the financial year ended 31 declination 2009, the conclave reported revenue of SGD88. 8 million and net profit of SGD3. 3 million (Theresianto, 2008). In 2001 Sakae Sushi opened its first Drive through restaurant in Trade Hub 21 in Jurong eastern hemisphere MRT space. Sakae Sushi tends to open their branches near MRT stations so as to attract the crowd and the give away travellers. In 2006 Sakae sushi decided to expand its business to north Korea, Mr.Foo made his first visit to North Korea in 2001 as part of a Singapore Manufacturers Federation committee and has kept up(p) the contacts he made then. He believes it will be business as usual, and he might step up talks with his North Korean business partners on plans to take his sushi outlets thither and bring North Korean cuisine to Si ngapore. In 2003, Sakaes parent company Apex-Pal was listed on the Singapore Stock Exchange. Apex-Pals food businesses, of which Sakae is the flagship brand, represented over 95% of the companys revenues.In August, Apex-Pals initial popular Offering (IPO) set out 16. 5 million shares, of which 836,000 were for public investors and the rest for introductional investors, clients and company employees (Business Times, 2004). Production Process The rice used for the sushi served in our Sakae Sushi restaurants, distant most conventional sushi restaurants, is enriched with Vitamin E. Their experienced chefs are able to produce a self-consistent level of quality for all dishes served in Sakae Sushi, thus raising the level of assertion their customers have in their restaurants.To maintain high level of quality and brightness, raw food is not rotated on the kaiten (conveyor belt) for more than an hour, and cooked food for more than two hours. This standard of freshness is maintained th rough a color-coding system. For the regular dishes, the staff can immediately identify plates, which have been on the Kaiten (conveyor belt) for too long using our color-coded system. In relation to the premium red plate dishes, as the quantity of such premium dishes is much smaller compared to the regular dishes, our chefs personally varan these dishes using our color-coded system.Their aim is to provide their customers with unique, hassle-free eat experience at Sakae Sushi restaurants. The dual-directional conveyor belt upon which the sushi dishes are displayed was designed to both maximise the seating space available and to provide customers with efficient service. Self-service hot water system dispensers are located at each table and at each station of the kaiten (conveyor belt) for customers to fill their complimentary cups of green tea.Also installed is the interactive bill of fare system at most of the restaurants from which customers can surf the placard containing bot h illustrations and descriptions of the dishes before placing their orders directly with the kitchen through the edict system on the interactive menu. Where logistic difficulties affect the installing the interactive menu system at any cell portable, the intercom ordering system is installed instead, thus maintaining the high level of efficiency in service. Sakae Sushi adopts a simple-minded two-tier pricing structure in relation to their kaiten sushi.Sakaes simple price structure proved to be very popular. The majority of sushi dishes were priced at S$1. 90 and premium dishes at S$6. 50, which made Sakae more affordable than other Japanese restaurants. Suppliers The decrease in purchases from them in FY 2001 and FY 2002 is due to Sakae Sushis ability to sound alternative sources of those products at lower costs. To degrade their reliance on All striking craft Co. and to extend our supplier buns for seafood, they began to purchase seafood from Surapon feeds Public Company special and LianHup Fish merchant Co. n FY 2001 and FY 2002 respectively. These purchases helped them increase the turnover, which was also due to the increase in the number of Sakae Sushi restaurants. In addition to Marukawa transaction, they also purchased frozen food products from Tomo-Ya Japanese Food profession, Shimaya Trading Pte Ltd and Moon marine Singapore Pte Ltd who supply Sakae Sushi with frozen food products. The amount of purchases made by the Company from each of these three suppliers was relatively constant for the last three financial years (Apex-Pal International, 2009).The avocation are the suppliers for Sakae Sushi All Big Trading Co. (All Big Frozen Food Pte Ltd) Seafood Marukawa Trading Dried / frozen food products Tomo-Ya Japanese Food Trading- Frozen food products Shimaya Trading Pte Ltd Frozen food products Moon Marine Singapore Pte Ltd Frozen food products Surapon Foods Public Company Limited Seafood LianHup Fish Merchant Co. Seafood Staff ins truct and requirements Sakae Sushi provides all new employees with a complete orientation and information which is specific to their beats.New full-time operations staff, for their FB outlets and, those of the dealerships is sent to ITE-certified On-The-Job cookery (OJT) schools to be teach by Sakae Sushis special OJT trainers. The OJT schools have been certified by ITE to be able to conduct OJT for our staff working in their FB outlets. Such training involves the training and coaching of new employees by supervisors and managers through active learning at the OJT schools. This type of training allows new employees to spud the take skills in spite of appearance a short period of time, without exit their work place.Apart from kaiten sushi, the restaurants also serve ala-carte dishes. All members of the service staff are trained with the necessary skills and menu knowledge to provide a consistent level of customer service and to assist our customers in food s pickion as and when called upon to do so. Sakae Sushi also conducts refresher courses for their staff. Part-time service crew is given on-the-job training by our qualified trainers (Apex-Pal International, 2009). Expenses and Capital Requirements The main expenses of Sakae sushi are the purchase of the raw materials from its suppliers.Since the raw materials have no fixed cost F B have to face inconstant cost of the raw materials. Since the prices of the items on the Sakae Sushi menu cannot be changing constantly, Sakae sushi have to come different ways to maintain their cypher and expenses. Every time Sakae sushi opens a new branch it has to incur certain costs like furniture, rent, labor, electricity, operating costs etc. Thus the capital required to open every new branch is different and may vary from places to places and from time to time. In the year 2011 Sakae Sushi spent around S$40,000,000 on the property, plant and equipment.Also the labor cost in Singapore is considerably much high er than most countries, so it is harder to start an F B base business like a Sakae Sushi restaurant in Singapore. Balance Sheet (Apex-Pal, 2003) Income Statement (Apex-Pal, 2003) Cash Flow Statement (Apex-Pal, 2003) Balance sheet and cash flow statement of the Sakae Holdings The meetings cash and bank balances as at 31 December 2011 stood at $6. 1 million, a decline of $6. 4 million during the year, due to increased enthronization in property, plant and equipment with the construction of new central kitchen in Singapore and view up of a headquarter in Malaysia.The company has also made investments in associates in the beginning of the year, which was funded by bank loans. shareowners equity stood at $27. 2 million as at 31 December 2011 (Full Year Financial Statement And Dividend promulgation n. d. ). The Group was in a negative working capital position of $5. 9 million as at 31 December 2011 due to short-term revolving loans balance of $10. 3 million, which are renewable at maturity. The Group has repaid some of the revolving loans during the year (Full Year Financial Statement And Dividend Announcement n. d. ). Financial Highlights A.Actual (000) Results200420052006200720082009 Revenue45,16151,90566,64583,83893,80488,817 Profit/Loss before tax2,7964,7436,6973,485(3,695)3,336 Profit/Loss attributes to share holders2. 0853,6845,0812,261(3,748)3,262 Non-current assets4,8334,62712,43318,51619,87630,852 Non-current liabilities30128942159058610,088 Shareholders equity10,76213,57620,51516,39811,15320,256 earn assets per share10. 0912. 7414. 4511. 557. 8614. 26 Earnings per share1. 963. 463. 741. 59(2. 64)2. 30 B. expect (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 Non-current assets15,189. 5016,915. 5818. 963. 68 Non-current liabilities2,045. 832,336. 642,677. 91 Shareholders equity15,443. 3316,223. 5616,664. 81 web assets per share11. 8312. 1112. 01 Earnings per share1. 741. 701. 40 (*Projected Figures based on previous year average) (Apex-Pal International, 2009) Management Profile Board of Directors Douglas Foo Peow Yong (Chairman and Chief executive Officer) Foo Lilian (Executive Director and Executive Vice President) Andy Ong Siew Kwee (Non-Executive and self-directed Director)Lim Chee Yong (Non-Executive and mugwump Director) Chan university extension Leong (Non-Executive and indie Director) audit Committee Lim Chee Yong (Chairman), Chan aviate Leong, Andy Ong Siew Kwee Nominating Committee Lim Chee Yong (Chairman), Chan Wing Leong, Douglas Foo Peow Yong Remuneration Committee Chan Wing Leong (Chairman), Lim Chee Yong, Douglas Foo Peow Yong Company Secretaries Rachel Ng Meijing (CPA, Singapore), Chan Lai Yinb (ACIS) (Apex-Pal International, 2009) Board of Directors A identity card of directorsis a body of elected or appointed members who jointly oversee the activities of acompany(Robert, H. , 2000).Other names include carte du jour of governors, get along of managers, jump on of regents, come along of trustees, and board of visitors. It is often simply referred to as the board. In a stock corporation, the stockholders elect the board and it is the highest management authority of a company. In anon-stock corporationwith no general voting membership,e. g. , a university, the board is the supreme governing body of the institution (Robert, H. , 2000). The duties of the board of directors of Sakae Sushi are as follows * Establishing policies and objectives. * Selecting, appointing, documentation and reviewing the performance of thecompany. Ensuring the availability of financial resources. * approbatory annual budgets. * Accounting for the performance of the company. * Managing salaries and pay of the employees. MANAGEMENT Mr. Douglas Foo Ms. Foo Lilian Mr. Lim Chee Yong Mr. Andy Ong Siew Kwee Mr. Chan Wing Leong MR. DOUGLAS FOO (Chairman and Chief Executive Officer) Mr. Do uglas Foo has been a Director of the Group since 17 February 1997. As Founder and chief operating officer of the Group, he manages the overall management, strategic planning and business development functions of the Group. Mr.Foo started his career as a marketing executive but with his endowment fund and entrepreneurial skills he was able to come up with an idea of go-ahead a garment trading business which was not really successful, so a year later he thought of acquiring into the food and beverages industry by opening the first branch of Sakae Sushi and has since developed Apex- Pal into a successful enterprise that it is today (Apex-Pal International, 2009). MS. FOO LILIAN (Executive Director) Ms. Foo Lilian was appointed as Sakae Sushis Executive Director on 2nd May 2002 and is responsible for the general management of the Company. Ms.Foo handles the Groups leasing, business development and healthy matters. She is also responsible for the consultancy, maintenance and look and development work for all IT-related matters of the Group. In 1997, Ms. Foo united the Central Provident Fund Board where she was a database administrator until February 2000. She also worked with the Keppel TatLee chamfer Limited as an jock manager. Ms. Foo left wing Keppel TatLee Bank Limited to join Sakae Sushi in January 2001 (Apex-Pal International, 2009). MR. LIM CHEE YONG (In restricted Director) Mr. Lim Chee Yong was appointed as our Independent Director for Sakae Sushi on 14 July 2003.From October 1982 to April 1987, Mr. Lim served as a senior corporate banking officer in Overseas Union Bank Limited. In May 1987, he joined Banque Paribas, Singapore Branch as a deputy manager of banking, where he stayed until April 1989. He was appointed an executive director of adhesion technology and Development Limited, a company listed on the Main Board of the SGX-ST, in May 1989. Mr. Lim left Alliance Technology and Development Limited in butt on 2000. Mr. Lim is also an indepen dent director of Twinwood plan Limited, a company listed on the SGX- CATALIST, from 1997 to 2007 (Apex-Pal International, 2009). MR.ANDY ONG SIEW KWEE (Independent Director) Mr. Andy Ong Siew Kwee was also appointed as Sakae Sushis Independent Director on 14 July 2003. Mr. Ong is the CEO of ERC Holdings Pte Ltd. ERC is a leading player in the education industry in Asia. He oversees the regional development as well as the merger and acquisition activities of the firm. He is also the Founding President of the Financial proviso Association of Singapore, a master copy body for financial services that issues world-renowned dependent Financial Planner marks. He has create verbally several best-selling books on financial management and business (Apex-Pal International, 2009).MR. CHAN WING LEONG (Independent Director) Mr. Chan Wing Leong was appointed as an Independent Director on 30 April 2005. Mr. Chan holds an honors degree in scotchs from the University of Singapore. He started hi s career in the Administrative Service of the Singapore administration in 1981, and has held stints in several organization posts in the Ministry for Trade and Industry and Economic Development Board, as well as in Government- linked Corporations. Mr. Chan was an investment banker in the late 1980s to 1995 at Schroders PLC and Bankers charge Corp in both Singapore and Hong Kong.In 1995, he returned to Singapore to be Chief Financial Officer of Sembawang Corporation until 2001 (Carter, 2008). reinforcement Request and Exit Strategy In December 2007, Sakae opened its first outlet in the United States at the Chrysler construction in New York, its 61st outlet worldwide. initial S$3 million had been invested by Apex-Pal in the outlet. The outlet did not to well because of tougher times and they have since then shut down their operations in USA. Initially, because of the companys small size, Mr. Foos strategy for Sakaes expansion was to enter into franchise agreements.As the company g rew, the company also use a strategy of foreign direct investments in those countries where such investments were feasible and also welcomed by the respective governments. Global economic crisis occurred in 2008 and Sakae found its margins winced by high prices for commodities such as rice and vegetables. The company cut salaries and executive pay but decided against staff layoff. A profit of S$2. 3 million in 2007 was followed by a net loss of S$3. 8 million, in 2008 due to rising rentals, salaries and commodity costs. It was Apex-Pals first annual loss.Sakae introduced cost slash measures such as finding new food suppliers, minimizing shave and tightening other operational practices. The company returned to making profit in 2009, posting a S$3. 3 million profit. Risks and Contingency Planning The Starting Point It is vital that any organization takes development and maintenance, disaster convalescence and business continuity plans seriously. It cannot be left until it develo ps into a serious problem. Impact perspicacity One of the first tasks to be undertaken is to stool a comprehensive list of serious issues that can affect the normal operations of a business.This list should include all possible issues no matter how plausibly they are to occur. Since Singapore is an island one of the major risk factors can be floods. development the Plan Once the assessment stratum has been completed, the structure of the plan can be established. The plan will contain a range of milestones to move the organization from stop status to return to normal operations. The first important milestone is about traffic with the aftermath of a disaster. The next defend is to determine which business functions need to be resumed.The plan will be detailed, and will identify key individuals who should be acquainted(predicate) with their duties (The Contingency Planning Guide, 2002). Testing the Plan Once this plan has been developed it must be subjected to rigorous exam. The testing go must be mighty plotted and should be carried out in a suitable environment to produce authentic conditions. Those who would undertake the major activities of the business should test the plan. The test procedures should be documented and the results recorded. This is important to turn back that feedback is obtained for fine-tuning the Plan.Personnel Training This stage is dependent upon the development of the plan and the successful testing of the plan. It is necessary that all personnel are aware of the plan, its content and their own related duties and responsibilities. Again, it is important that all personnel take the disaster recovery plan seriously, even if the events that would trigger the Plan seem unlikely. take in feedback from staff in order to ensure that responsibilities and duties are understood, particularly those that require colony on others actions (The Contingency Planning Guide, 2002). Maintaining the PlanThe plan must always be kept up to d ate and applicable to current business circumstances. This means that any changes to the business process must be right reflected in the plan. Someone must be assigned responsibility for ensuring that the plan is maintained and updated regularly and should therefore ensure that information concerning changes to the business process are properly communicated. Any changes or amendments made to the plan must be fully tested. Everyone should be kept abreast of such changes that affect their duties (The Contingency Planning Guide, 2002). Recommendations To develop business in America and to attract American customers its important for the Sakae group to develop some American friendly food like Sakae beef burgers, hot dogs, rolls and other food loved by the people there, this will affect the revenue that Sakae can make in that country. * In countries like North Korea, they should find local partners to work out a good franchising option. * leave more on the job training activities to en rich the employees to possess all the required skill to excel in their job. * blast their product base and standardize their products across all their branches to lower their costs. Conduct ample market investigate to identify the target market and develop products and services according to the needs of their customers. * Tie up with other food beverage organizations to promote and diversify their brand. * Sponsor events like marathons, blood boon drives and cultural fests to attract the masses oddly the younger generation to get involved with Sakae Holdings. * As part of Corporate friendly Responsibility, Sakae Holdings should adapt eco-friendly practices like recycling, reusing and reducing the waste generated.Also they can contribute towards the environment by implementing energy saving practices like maintaining a constant temperature of 24 degrees while using air-conditioner. * By working with their suppliers they can research and develop new ways to store their invento ries effectively by keeping it fresh and ready to use. * They should also develop ways to minimize their transportation cycles and also go along on fuel costs and reduce their carbon footprint. 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J. , rudimentary Marketing Management (pp. 272-276). New York, United States of America John Wiley Sons. Japan-guide. com. (2008, 05 31). Sushi. Retrieved 04 10, 2012, from Japan-guide. com http//www. japan-guide. com/e/e2038. hypertext markup language Lamb, C. W. , Hair, J. F. , McDaniel, C. (2008). Essentials of Marketing. Cengage Learning. Lovelock, C. H. , Patterson, P. G. , Walker, R. H. (2007). Understanding service products, customers and employees. In Lovelock, Patterson, P. G. Walker, R. H. , Services Marketing (pp. 26-30). NSW, Australia Pearson Education Australia. Robert, H. (2000). Roberts Rules of order impertinently revised. Philadelphia Perseus Pub. Sakae Holdings Ltd. (2012, 2 28). Retrieved 4 5, 2012, from http//www. finanznachrichten. de http//www. finanznachrichten. de/pdf/20120228_172124_5DO_752F7CDF0A7BD28248257 9B2002082FC. 1. pdf The Contingency Planning Guide. (2002). Retrieved 4 5, 2012, from http//www. contingency-planning-disaster-recovery-guide. co. uk Theresianto, N. (2008, February 11). Apex-Pal expands its Sakae Sushi empire. The Edge Singapore. Retrieved March 9, 2010, from Factiva.