Report on Company in Singapore | Hiap Seng Engineering

   

Added on  2019-11-20

14 Pages3549 Words172 Views
Running head: INTRODUCTION TO MANAGEMENTIntroduction to ManagementName of the Student:Name of the University:Author Note:
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1INTRODUCTION TO MANAGEMENTExecutive Summary:The report gives a brief overview of the company in Singapore and discusses about thebusiness undertaken and other relevant facts. The report also mentions a PESTEL analysis ofthe company. The five forces porter’s model is also discussed to analyze the competitiveenvironment of the company. The report also mentions four recommendations which acompany must enact upon for a successful future.
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2INTRODUCTION TO MANAGEMENTTable of Contents1. Company Description, Nature of Business and Other Relevant Facts...................................32. PESTEL Analysis of the Company........................................................................................33. Porter Five Forces Analysis of the Company’s Competitive Environment...........................64. Four Management Recommendations the Company Should Enact Upon For a Successful Future.........................................................................................................................................95. Conclusion............................................................................................................................11References................................................................................................................................13
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3INTRODUCTION TO MANAGEMENT1. Company Description, Nature of Business and Other Relevant Facts The company chosen here is Hiap Seng Engineering Works established in 1950 byMr. Tan Kuay Hoe in Singapore. The company mainly provides services that coverfabrication of steelwork. However, the first milestone project of the company has been theconstruction of storage tanks and pipe work (Hiap Seng, 2017). Further, the companyexpanded its operation and undertook strategic alliances and acquisition after which itchanged its name to Hiap Seng Engineering and Construction Pte. Ltd. The company hasbeen a service provider majorly and has found a role in the maintenance services not only inprocess industries but also in oil and gas industries. The company listed in the stock exchangeof Singapore in the year 1999 where it found its rename as Hiap Seng Engineering Limited.The company has an ISO 9001 accreditation and their facilities were certified. The companyhas 1000 employees and 6 fabrication facilities that covered more than 2 million sq ft. Thecompany has a commendable record of accomplishment because of its quality, safety anddelivery on time. The company has also found a place in the Forbes Asia Magazine amongthe 200 best public listed corporations and more so noted for its modest indebtedness growth,profitability and modest approach of indebtedness. The company however believes in themission of delivering reliable, efficient and quality products and services not only in a timelybut safely manner. Further, the company also believes in the mission of becoming a preferredservice provider in constructing, designing, fabricating and maintaining process industries ofSingapore (Hiap Seng, 2017). 2. PESTEL Analysis of the Company
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