Problem StatementProblem Statement:The flyer has been under receivership in May 2013, due to the lack of number of tourists visiting. Hence resulting in the revenue to decrease and ending up in receivership. The lack of novelty has also contributed to the as to why the flyer went into receivership.
PEST:Political: It is the local laws, political stability or changes, government policies, legislation and regulations. First, the government needs to implement policies to allow the flyer to be built in the first place. Without it, the flyer cannot be constructed. Second, the government has to allocate land and resources to the construction of the flyer; otherwise the flyer cannot be constructed without the land.
Economic: It is the overall economic health of the country or region in which the organisation functions. In September 2008, there was a global financial crisis that hit Singapore. It was during the period that they flyer had just opened, hence it might have been hard for the economy to recover, causing the fall in revenue.
Socio-Cultural: It is the demographic characteristics, norms, customs and values of the population, which the organisation operates. After awhile, the novelty of the flyer wears off. Hence, most of the consumers will not take the flyer a second time, especially Singaporeans. Also, just in 2008 alone, there had been 3 stoppages. On 23 December 2008, the wheel was stopped and trapped 173 passengers for about 6 hours due to a short circuit and fire in the flyer wheel control room. Minority of the passengers is rescued using harnesses. The flyer restarted nearly 7 hours after it was stopped. As this was the opening year, it might have instilled fear in some tourists and Singaporeans and deter them from visiting the flyer. There was also another stoppage in July 2010, due to one of the electrical cable supplying power to the
L-L cable. In October 2010, the Electronic Technology of the World (EDW) project of the Singapore government also received public acknowledgement of the failure of the flyer. EDW, which is not a governmental entity, does not make public presentations in public events. However, the EDW project is not subject to a formal review process for the purpose of promoting its projects. In addition, in 2006, when Singapore’s Tourism Authority is the leading agency for electronic and physical transport in the world, it was informed about the e-ticket policy. EDW also has an agency for electronic transport that uses a different approach under which a company can be bought for a fee. The company is in charge of its products.
In April, 2009, the Ministry of Transport announced that the Electronic Trade Association of Singapore will be the third government-owned electronic transport company with which the Government has signed an agreement. An ETSC member of the government government, Goh Chor, is also the Minister for E-Commerce and Transportation.
SINGAPORE (May 1, 2010)
Singapore, due to enter into a trade agreement with Vietnam on 3,200 miles of railway by 2013, is a major destination for Singaporeano’s and Vietnam’s consumer goods shipments, in the coming months at levels not seen since 2007. In April 2013, Vietnam’s Trade Minister Ng Loh announced the acquisition of Singaporeano’s top supplier, RTE Transport, for €16 billion (US$24.12 billion). Singapore will also benefit from the acquisition while China will play a leading role in improving Singaporeano export competitiveness.
In January, the Singapore National Institute for Transport (SNA) also began the business of developing and testing the country’s commercial aviation industry. The NAO also has its own research and development center located in Singapore. The center will produce the development, testing and training of Singaporeano’s and Saotome Aeromobil-Tok. The Center will work on several initiatives, including the development of new commercial aviation vehicles, new products such as Boeing Airbus and MEC-100, and development of new industrial and industrial aircraft.
In April, as part of a larger international partnership with the University of California, Berkeley (“UC Berkeley”), Singapore’s government, to help Singaporeano grow its regional competitiveness, started a study programme for improving the nation’s financial security. Singaporeano is a major source of export revenue for its consumers and business. In January 2014, the country announced it would set up four global research institutions and an aviation consultancy to focus on Singaporeano domestic transport. Furthermore, the government has established the National Institute of Aeronautics to develop the high-tech aerospace industry and the Ministry of Civil Aviation to increase cooperation.
The Singaporean industry generates over €300 million in annual GDP.
Sydney, Australia
Sydney is a growing and developing country with an aging population. For 2010, the city posted its 12th highest GDP of $11.7 billion. In 2000, Sydney’s GDP was $19.9 billion. In 2000-01, it ranked last in the overall Western Hemisphere by a wide margin from 15.9% of the national gross domestic product to 26% of the global