SAVER.COIN

Introduction

The current CEO of Saver.Coin is Mr. Gordon Phua. He graduated from a local university with a Bachelor degree in Marketing. During his university days, he had ventured into several small businesses. Although he did not sustain most of these small businesses, he had gained much in terms of experience and confidence. In 2015, a survey conducted by Gordon and his friends revealed that:

- 25% of Singaporeans eat out daily

- 54% of Singaporeans purchase based on price

- 33% of Singaporeans purchase dinning discount

- 40% of Singaporeans purchase based on deal.

In 2016, Gordon Phua with his two friends decided to set up Saver.Coin, a lifestyle solution's company that strive to integrate social media and discovery services through artificial intelligence to create lifestyle platform focused on discovery of places and people. Basically, the company focuses on connecting subscribers with local merchants by offering activities, such as shopping online by offering the latest fashion apparels to high tech gadgets, as well as offering the best deals and discount vouchers for dinning at the most delicious eateries in town. In addition, Saver.Coin helps merchants advertise their businesses and products and services at a low cost.

Management and Leadership

Mr. Gordon Phua believed that keeping the organisation structure lean and nimble greatly reduced unnecessary bureaucracy and red tape thus, greatly contributed to a higher level of 'efficiency and effectiveness' in the business. With a simple structure, the fixed and direct costs would be kept at a low level. Most of the business costs were variable costs that were directly linked to the operational revenue and sales activities. In terms of financial management, that would keep the breakeven point at a very low level - an essential factor for the survival of the business, especially at the inception stage. Gordon Phua's business philosophy was to 'focus on the value creation and the value-add of the business' and the costs would be taken care of. Currently, the business employed 20 full-time staff and 10 part-time staff mainly in the writer division - see diagram 1 for the organisation chart with four hierarchical levels.

Diagram 1 Organisation Chart Saver.Coin Levels CEO Gordon Phua Finance and HR Project Design 2 Department Department Department Project Writer W Division Division Project Project Project Junior Team 1 Team 2 Team 3 Writer 4Political Demographic Economic Socio-cultural Technology Global Labour laws (Working hours) Diversity (Diverse cultures) Employment rate Multi-eultural society Electronic Communicati ons Relationship between countries Government policies Positive workforce behaviour Goods and services taxes Population growth Fibre-optics/ Wi- Local/ Foreign competitors Taxes on businesses Consumers preference for product and services feature Purchasing power Going green Web business transactions Economic growth Legislative changes Age (Ageing population) Marital relationships Technology for products Labour cost Type of Government (Eg. Democratic or Authoritarian) Literacy rate Gross domestic product Work-life balance Technology for company processes Cost of doing business