Spire talks about strategic planning lessons from leading organizations in ASEAN

Spire was honored to participate in a seminar organized by Sumitomo Mitsui Banking Corporation (SMBC) on 15th July, in Singapore. Japnit Singh, Deputy CEO of Spire Group, shared his insights on strategic planning lessons from leading organizations in ASEAN.

Japnit discussed five steps of strategic planning, strategic priorities and tools used by leading organizations in ASEAN.

The strategic planning process can be seen as consisting of five steps, distributed amongst different departments in the organization. These steps are defining the vision, gathering and analyzing data, strategy creation, planning resources & outcomes and finally evaluation and monitoring.

An organization should formulate an overall vision for the future, gather and analyze all the available data and also consider all the available critical items of information while monitoring and evaluating key performance indicators (KPI).

For Singapore-based firms, ASEAN continues to be the most popular region for future business expansion, with Vietnam being the top destination. ASEAN is attractive because of its growth potential and inclusion of emerging markets with a fast growing consumer market as well as middle class.

To facilitate overseas expansion, collaboration with research agencies could be helpful as nearly 40 per cent of Singapore businesses face difficulty with market knowledge and information when engaging in overseas expansion.

Leading organizations use different tools such as the Net Promoter Score (NPS) to assess the level of customer satisfaction and loyalty towards their product or service. RAD analysis is used by companies to segment and prioritize their customers and channel partners.

Comments

China’s New Silk Road Initiative - An integrated trade strategy for the 21st century

The Belt and Road Initiative (BRI), announced in 2013, is not only China’s most ambitious global infrastructure project but also one of the largest ever attempted anywhere. It aims to develop a free trade zone and improve global connectivity across the Eurasian landmass. With an estimated investment of USD4 to 8 trillion and affecting over 70 countries, can China successfully connect all these economies together? What is China's BRI? The BRI mega infrastructure project aims to cement links with Southeast Asia, Central Asia, Russia and the Baltic Region. It aspires to establish a free trade zone through infrastructure developments among countries and continents. The idea of the BRI was inspired by the ancient trade routes used by Chinese traders to boost connectivity with not only neighboring nations but with distant countries as well, such as the Roman Empire. Pan-Eurasian trade routes were opened in 130 B.C. during China’s Han Dynasty, ostensibly for interna...

Spire appointed as Official Research Partner to the BMW Malaysian Open for the fourth consecutive year

Spire was honored to be appointed as the Official Research Partner of the BMW Malaysian Open for the fourth consecutive year. The 2015 BMW Malaysian Open – the sixth edition of the Malaysian Open – was held from 28 February to 8 March 2015 at the Royal Selangor Golf Club in Kuala Lumpur, Malaysia. The event gathered 13,815 spectators from across the region. Together with the Women’s Tennis Association (WTA) Tour and the Lawn Tennis Association of Malaysia (LTAM), Spire was thrilled to be a part of this prestigious event, which played host to talented sportspersons such as Caroline Wozniacki and Alexandra Dulgheru. As the Official Research Partner, Spire’s Malaysia team conducted a total of 500 survey interviews with the spectators and generated fact-based research insights aimed at improving the event arrangements in the coming years. Spire’s long-standing association with this world-class event attests to the quality of the research it has provided. https://www.sp...

Side Click: Are you under the surveillance camera?

Identifying VIPs with strong purchasing power is crucial to retail success. More often than not, retail staff fail to do this in time. Facial recognition technology can help prevent this. But does it put our privacy at risk? With high-spending customers making out-sized contributions to retail profitability, it is increasingly crucial for retailers to provide personalized customer service the minute a VIP customer sets foot in the store. For instance, Katie Holmes reportedly spent USD100,000 on a fashion makeover and USD14,200 on lingerie alone in 2012! This is where identification technology can play a role. NEC, a Japan-based ICT vendor, has developed an identification application based on a facial recognition system – comparing the individual’s facial features against its database, and sending prompts when a match is identified. The initial purpose of the application was to help identify terrorists and criminals , but it was subsequently adapted to the retail setting....

QE program unveiled for Eurozone

The European Central Bank (ECB) recently took a policy leap by launching its own Quantitative Easing (QE) program – a bond purchasing policy to inject new money to revive the Eurozone’s economy. Will it work? Leon Perera, Chief Executive Officer of Spire Research and Consulting shared his insights in The Business Times – Views from the top section on the effectiveness of the QE program. With the launch of the QE program, the ECB hopes to boost economic growth and check deflation. This will be achieved through the purchase of both government and private sector bonds worth €60 billion from March 2015 until September 2016. Perera commented that, while better than nothing, the ECB’s QE program is small in comparison with the scale of the problem facing Europe. It will most likely have to be increased and sustained for some time before any results are seen. Moreover, the ECB runs the risk of trading short-term quantity for long-term quality of growth. This is due to the reduced ...

Indonesia’s tourism industry set to grow

Indonesia is now poised to become a popular holiday destination for national and international tourists. The growing tourism sector is becoming economically significant. Against that backdrop, the third South East Asia Hotel Expansion Summit 2014 gathered key industry stakeholders and service providers from Indonesia’s travel and tourism sector to discuss the market outlook and potential business opportunities. Jeffrey Bahar, Deputy Chief Executive Officer of Spire Research and Consulting, was amongst the prestigious list of speakers at the 3rd Annual SEA Expansion Summit 2014 held in Jakarta, Indonesia. In his presentation, Bahar emphasized how the tourism sector boosts the economy. 2014 saw a record number of inbound tourist arrivals, at 8.6 million. He shared that Indonesia’s travel and tourism sector is expected to grow further due to the implementation of a common ASEAN Visa, expected by the end of 2015. However, the nation still struggles with challenges such a...

The Knowledge to Decide

Search This Blog