Challenger Technologies Limited is a Singapore retail store that provides IT gadgets. New products are always up to date therefore, they are the top among all. For instance, vendor will change the poster and replace the product with a updated software. Another example, they have also won BCA green mark award 2017 in building and construction authority (“Awards”, 2017). In addition to that, the company’s vision is to learn from the mistakes adapt and enhance to provide a better service.
Challenger Technologies was founded in 1982. The company’s had 38 store wide across Singapore (“About Us”, 2017). They have a unique track records and substantial brand label. Challenger is a in house name which gives customer assurance the brand they carry. There are over 50 products brands available on Hachi Tech online. They have also served more than 1 millions value club members (“About Us”, 2017). In 2017, the company opened and expanded its new flag ship store located in bugis junction. It is one of the biggest outlet in Singapore. In 2016, it was a challenging year for the company, revenue decreased by about 4% to $339.4 million and net profit decreased by about 33% to $12.3 million (“Annual Report”, 2017).
Factors plays a major role in deciding the results that can impact Challenger Limited’s long haul profitability in a few market or country. The company is running in Diversified Financials in more than hundreds of countries and expose itself to different types of political system risks and political environment. The achieve success in such aggressive Diversified Financials industry across different countries. To ensure security measures firewalls must be on at all times to prevent leaking of information. Challenger Limited can also resolve the following issues before investing or entering in a certain market (“Challenger Limited PESTEL & Enivronment Analysis”, n.d.).
In a few countries, the organization and legal framework are not strong enough to protect the source document of the company. A enterprise should carefully figure out before entering the markets as it can lead to theft of organization’s secret source. Therefore, the company always ensure that their security is always updated at all times. Thus, the overall competitors have no chance of achieving their goals. Some of the major factors that Challenger Limited need to take note on copy rights of products, data protection, employment law, intellectual property law and consumer protection (“Legal Factors that Impact Challenger Limited”, n.d.).
The Macro environment factors such as foreign exchange rate, interest rate, inflation rate, savings rate and economic cycle determine the outcome of the investment in an economy. While micro environment factors are inflation, spending, gross domestic product, fiscal policy, employment and monetary (“Macro Environment”, n.d.). By determine the skillset each an individual to perform the task as given and out sell the competitors. Challenger Limited used country’s economic factor such as inflation, growth rate & industry’s economic indicators such as consumer spending, Diversified Financials industry growth rate. Economic factors that Challenger should be aware of discretionary income and inflation rate (“Economic Factors that Impact Challenger Limited”, n.d.).
Singapore is a little red dot in the society, but this is only temporary. Back in those days,
jobs in the banking and finance, informational technology, medical industries and science are highly paid over jobs in the industry. Challenger Limited had always believed that understand the customer needs is the first fundamental rules in the retail industry. Learn from the mistakes and then enhance the service. By looking at a different angle of view might be able to achieve something remarkable. The company can hire fresh graduate by giving them a proper orientation and training. With their knowledge, creativity, and innovation the company might be earning three times more then usual sales.
Back in the generation, the cash register had to be key in manually. With the latest technologies regardless of any retail, food and beverage industry or even a cab just a tap the payment had been made. Do not have to worry about the weight of the coins or the notes in the pocket anymore everything now can go cashless. For example, challenger limited they have a app called value club once customer download it and straight away they can enjoy discount by flashing Qr code thru the scanner. The benefit of doing this is efficient and saves time. Customer will be able to check their remaining points, voucher and past records. With these technologies anywhere in the world they will be able to execute in a right manner.
Different markets have different kind of standards which can affect the profitability of an organization in the markets. Even within a country often states can have different liability laws and environmental laws. For example, in America – Florida and Texas have different liability causes major disaster. Similarities European countries give healthy tax breaks to companies that operate in the sector.
Before starting a new business or entering new markets in existing market the firm should carefully check out the environmental standards that are required to run in those markets. Some of the environmental factors that should take note on are climate change, recycling and endangered species.