24jam

The thingumajig stack away giant 24Jam - is one of capital of capital of Singapores great entrepreneurial success stories. Founded in the first 1980s by its far-sighted founder, Richard Lim, 24Jam began with a single store expensive Clarke Quay economize presentily grew as Richard Lim acquired more and more grand locations for his convenience stores near MRT stations and other busy thoroughfares. By the late 1990s, 24Jam had no short than thirty stores throughout Singapore and Johor Bahru and over five hundred full- period and part-time employees. 24Jam maintained a competitive edge over other convenience stores by operating 24 hours a day, seven days a week and priding itself on excellent customer service. Richard Lim was considered by many business analysts to be the driving force hind end 24Jams success. Lim was born in Ipoh, Malaysia in 1952 into a elephantine but poor family. Both his parents operated a sm only falconer stand which precisely made en ough money to give way and clothe the Lim family. feeling on supporting his family and forging a better life, Richard Lim move to Singapore and worked in a smorgasbord of low pay jobs before he was able to save enough capital to effective a bank contribute to start-up his first 24Jam store.

From the beginning, Lim recognized that he probably didnt fill the necessary management knowledge involve to operate a growing organization so, in what little spare time he had, he studied for firstly a grade diploma in management and then successfully read for an MBA from the University of Adelaide. The theoretical insights he gained through his studies motivated him to devour a radic al management approach to his 24Jam stores. ! He firstly redesigned his employees remuneration so that they would share in any lettuce above a certain sales level. Secondly, he implement self-governing work teams at each of his stores that were responsible for all store functions including ordering, managing inventory, appointing or dismissing staff. Thirdly, he made substantial efforts...If you wishing to lower a full essay, order it on our website: OrderEssay.net

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