Contents PagePage Executive Summary 1. Introduction 1.1 Company Overview 1.2 Recent Developments 1.3 Industry Overview External Environment Analysis – PEST 2.1 Political 2.2 Economical 2.3 Socio-cultural 2.4 Technological 2.5 Implication of PEST Internal Analysis 3.1 Financial Analysis 3.2 Success Factors of Breadtalk Group 3.3 Value Chain 3.4 Competitors’ Analysis 3.5 Strategic Group Analysis 3.6 Porter’s Five Forces 3.7 Boston Consulting Group Matrix 3.8 TOWS Matrix Problem Definition & Objective 4.1 Problem Definition 4.1.1 Current Challenges 4.1.2 Future Challenges 4.2 Short Term Objectives 4.3 Long Term Objectives Recommended Strategies 5.1 Business Level Strategy 5.1.1 Porter’s Generic Strategies 5.2 Corporate Level Strategy 5.2.1 Related Diversification 5.3 International Strategy 5.3.1 Franchising 5.3.2 Joint Ventures Implementation Evaluation and Control 1 1 1 1 2 2 2 2 3 3 5 5 7 8 9 12 13 15 16 17 17 17 17 17 17 17 17 17 18 18 18 18 19 20 21 2. 3. 4. 5. 6. 7. References Appendix Executive Summary BreadTalk Group Limited is a lifestyle F&B group who started with the Bakery business in year 2000, and steadily developed into an enterprise consisting of 3 major business segments in Bakery, Restaurant, and Food Atrium. This report includes a detailed analysis conducted on BreadTalk Group Limited, and the proposed strategies that will give BreadTalk a better direction into its future with the idea of sustainability. The report consists of a brief overview of the company and the industrial outlook. It will be followed by an extensive external and internal environmental analysis conducted and its implications. Key success factors will be identified and matched to BreadTalk’s core competencies, and various Strategic Management models and tools will be use to aid analysis. Lastly, challenges faced and both short and long-term objectives will be discussed, and proposed strategies and implementation measures will be put forward. The proposed strategies will be discussed using Porter’s Generic Strategies and The Balanced Scorecard is used for Implementation, Evaluation and Control. BreadTalk is anticipated to continue to thrive in the industry and go from strength to strength, and become an even bigger and sustainable business. The industry is predicted to grow even further where food retail currently represents 40% of the total retail spending in Singapore (Singstat. restaurant and food atrium businesses.1.3 Industry Overview Looking at the Food & Beverage (F&B) industry in Singapore. retail. 1 . They also manage franchises in Din Tai Fung and Carl’s Jr. Research & Development. Food Republic. As of 2011. 2012). BreadTalk manages 81 bakery outlets. Hong Kong and Indonesia. 2012). By year 2003. BreadTalk was listed on the SGX. Over the past 11 years.2 Recent Developments 10-storey International Headquarters (IHQ) due to complete in year 2013. Mr George Quek and his wife.1 million. 7 food atriums and 17 restaurants in Singapore. the second outlet at Novena Square followed and they also ventured into the HDB heartlands (BreadTalk Group Limited. The first retail outlet opened at Parco Bugis Junction in July 2000 selling freshly baked breads and buns that are visually creative and attractive. training. Singapore is also one of the top three eating capitals in Asia-Pacific (SPRING Singapore. 2012). Kampong Ampat in September 2001 to centralise food preparation process and in preparation of franchising plans. 2012). Toast Box. The IHQ will house the Group‘s main office. Presence in 16 countries. A central kitchen and corporate headquarters was built at KA FoodLink. BreadTalk has expanded and become a distinctive F&B brand with bakery. Within 5 months. The rise in growing middle income groups. it is a highly competitive but promising industry with steady growth rate and expanding market value. supported by 6000 global staffs. logistics and central kitchen facilities (BreadTalk Group Limited. Their proprietary brands are BreadTalk.1 Company Overview BreadTalk Group Limited was founded in year 2000 by current Managing Director. increase in visitors and the surge in disposable income are the main driving forces for the growth. including Singapore. 1. Mrs Katherine Lee. Executive Director. costing approximately S$64. Mainland China. 1. managing over 500 F&B outlets. Introduction 1. RamenPlay and The Icing Room. Under Food Regulations and the Sale of Food Act. social-cultural and technological aspect of the environment that the industry is affected. and its profits are quite steady (OCBC Investment Research. down from S$0. all processed food must comply with prevailing requirement including labelling requirements. 2. 2 .25 in June 2008. 2010). BreadTalk had set up over six thousand successful food and beverage establishments in Singapore alone.2 Economical Companies struggled economically. External Environment Analysis – PEST PEST analysis look into the political. BreadTalk needs to continue to monitor the general and industrial environment as well as making sound strategic moves to improve their market position. It is a powerful tool to improve businesses through effective & practical scanning of the environment and making prediction and preemptive strategies to gain competitive advantages (Carruthers. gain competitive advantages and ensures a sustainable growth. A “double tax deductions” scheme is introduced to allow companies to have deduction on tax income mainly for overseas business or investment (International Enterprise Singapore. 2009). particularly during the recent global financial crisis. 2.3 Socio-cultural Consumers are getting more health conscious and affluent. by the end of 2008. economic. 2010). The Agri-Food & Veterinary (AVA) is the national authority entrusted to ensure a resilient supply of safe food. and inflation has an impact on consumer buying power. A PEST analysis would be done for Breadtalk Group.As a company with huge success. 2. Rising costs in raw materials throughout the world and also rising fuel prices has a direct impact on the supply chain of Breadtalk 2. On the positive side. BreadTalk has its stock prices drop significantly to S$0.1 Political Singapore government encourages local companies to venture overseas.6 per share towards the end of the year 2007. In 2002. BreadTalk’s revenue increased by 27. Creativity is the key selling point of BreadTalk. installing transparent glass panels to allow customers’ viewing of the whole bread-making process. Outlets are located near public transport system and also popular departmental stores or supermarkets. especially in China where food safety is a key concern among consumers. Sophisticated bread-making equipments are installed in each outlet. BreadTalk came out with a wider variety of products that includes a healthier choice range. This concept is proven to be popular. Investment in R&D to create more creative products to meet consumer demands. Enterprise Resource Planning (ERP) was implemented to improve effective monitoring of inventory purchases and consumption. with bakers wearing standardized uniforms and outlet cleanliness is maintained at all times. and kept prices low to attract more consumers. It was the first in Singapore to adopt an open kitchen concept for bakeries. 2. the group won the “Singapore Promising Brand Award 3 . The retail outlets are also installed with point-of-sale systems.5 Implications of PEST With expansions and acquisitions. Strategic locations . quality and brand image.Outlets can be found in accessible locations with high pedestrian traffic flow. owning 448 food atriums and restaurants supported by global staff strength of 6000 employees. It has a dedicated R&D team devoted in developing new bread designs and flavours to meet the ever-changing consumer tastes and preferences The BreadTalk brand has evolved to become one of the most recognisable local brands in Singapore.4 Technological Advance Technology had greatly reduced the cost of labour and increase in productivity. This mean that the daily sales figures and itemised sales volumes can process at the end of day for each outlet so that management can evaluate the popularity of each item and understand trends better. BreadTalk distinguishes itself from traditional bakeries with its unique and innovative concept—focusing on hygiene. 2.4% in 2011. which hurts profitability. 4 . F&B industry has been hit by the inflation of rental expense and utility charges.2002” awarded by ASME and SPH and was also voted Singapore’s Most Popular Brand in a joint poll by the ASME and SPH. F&B industry in Singapore is highly competitive and fragmented with low barriers to entry. 9mths 0.6% 2.9% Return on Sales Measures the percentage of profits to sales 6.9% 20.1 Financial Analysis Calculation 2009 0.63 0.91 0.5 22.4 Gearing Ratio 0.8% 42.5% 54.2mths 1.9% 5 .33% 5.1% 22.7% 16.0mths 1.4% 54.68 0.68% Gross Profit to Sales Revenue Growth Net Earnings Growth Measures the percentage of gross profits to sales Percentage of growth in revenue Percentage of growth in net earnings 54.51% 4.2 22.8mths 23. Internal Environment Analysis 3.62 0.5mths 0.90 2011 0.5mths The period of time taken to pay creditors on credit purchases Indicates sale ability of inventory The mix between owner’s funds and borrowing (determines if company has borrowed too much to finance the business) 1.98 Ratios Current Ratio Implication Ability to pay current liabilities from current assets Quick Ratio Ability to pay current liabilities from the most liquid assets 0.3.67 Returns on Equity (ROE) The amount of net income returned as a percentage of shareholders equity.97 2010 0.2% 16.93 Debtor Collection Period Creditor Payment Period Stock Turnover The period of time taken to collect payment from debtors 0.(profit a company generates with the money shareholders have invested) 18.4% 14.8% 1. 5 months in 2011. However. 2008 Administrative Expenses ($’000) + 6. BreadTalk’s buyer power will not be greatly affected. There is a decrease in the percentage of net income returned as per shareholders’ equity. due to their reputation and size of company. it reflects that BreadTalk might not have enough cash or liquid assets to pay its current liability as their net working capital is negative. This might tie down their liquid assets hence affecting their quick ratio and ability to use the money for other investment or expenses. it will not be of a great concern as investors will be more concerned about growing the business using assets of the company. This reflects on the profitability of the company as also shown in the decreased in return on sales. The high administrative expenses incurred over the years might have contributed this.6% Bakery remains the main source of revenue for BreadTalk with about half of the income coming from the bakery segment. Singapore remains the main source of revenue for BreadTalk with China as the next major revenue contributor. it is observed that the restaurant segment is catching up on their revenue with increasing shares of income every year. In the investor point of view. there is a decrease in revenue earned by the two major revenue contributors in year 2011.2 months in 2009 to 1. However. higher liquidity ratios will be preferred as it will lower their overall risk.7% 2009 2010 2011 32 061 34 198 41 872 45 038 + 22. It was also in the profit earned by restaurant sales with an increase of 35% from 2010 to 2011 and an overall increase of 25% in profit over the past 4 years. 6 .4% + 7. In the supplier point of view. However. The debtor collection period increased from 0. followed by Hong Kong.Based on the liquidity ratios. Bread Society) Targeting locations with high traffic flow Good mixture of locations in central areas and the heartlands Strategically placing businesses next to one another (eg. Opening ToastBox next to BreadTalk and Icing Room) Venturing into lucrative markets such as China Branching into related and complementary businesses (F&B industry) Going regional and international First mover advantage in creating creative breads with innovative flavours and a trendsetter A strong Singapore brand name created Brand accolades from Singapore and international platforms Known for the open kitchen concept.2 Success Factors of Breadtalk Group Success Factors Skills and Capabilities Range of Quality Products Strategic Locations Diversification Branding Innovation Description Joint venture with Japanese company opening a Frozen Dough Factory sharing expertise and industry know-how 60-80 items offered in stores daily Central kitchens that ensures quality and improves consistency of products Artisan bread concept using premium ingredients (eg. and creative breads with innovative flavours Creating a lifestyle Emphasis on R&D and creativity with an International Head Quarters building due to complete in 2013 7 .3. related businesses next to one another (eg. which will accelerate their ability to facilities adds value to the company. constantly afloat in developing new and creative products. with in-house R&D and central kitchen facility. returns and add value to company’s sustainability. Technology Development Sophisticated bread-making equipment in Positioned itself as a vibrant and innovative Description Evaluation every outlet and will own an in-house R&D company with huge investment in improving facility by year 2013. Concern is in sustainability as its strategies can be Ding Tai Fung next to BreadTalk and easily imitated. ToastBox) Operations Central kitchen and training facilities that will Reassessment of company standing and revising improve and enhance current operations. keeping true to the new management structure with division heads company’s under one CEO. Procurement Investment in IHQ and costs involved in Strategy is to keep company ahead of its streamlining businesses lead to increase in competitors and investment will bring about better operating and administrative costs. 8 . vision of an innovative and trendsetting lifestyle company.3. A standard operating procedures. innovation and recognition. Sales Marketing & Opening outlets in high traffic areas and Successfully created a lifestyle F&B brand with a reaching into heartlands.3 Value Chain Value Chain Activities Firm Infrastructure Adheres to strict Agri-Food & Veterinary Strategy is effective and BreadTalk has won (AVA) and Food Regulation requirements in numerous brand accolades and gain brand Singapore. innovate and produce. Human Resource Management By 2013. business efficacy and product innovation and creativity. 2012) and is identifying local palates. training. Invests in R&D. will bring together all the diverse Recognised for providing consistent and quality departments under one roof at their IHQ training. Strategically placing strong image that can be easily differentiated. Products Services & Rejuvenated the sunset industry of Bakery Creates value as BreadTalk is not only innovative with its award winning Boutique Bakery in but adapts well to international markets by year 2000 (SPRING Singapore. 2012) and Breadtalk has a good brand name and has won numerous awards in the industry (Breadtalk Group Limited.4 Portfolio Analysis *Refer to Appendix 1 for market data Implications for BCG Matrix: Breadtalk Group’s major business segment in Bakery is a Cash Cow that is contributing to 53.2% of its total revenue Need to maintain competitive position in this lucrative market and understand that competition is only going to get steeper Relatively low barriers to entry. 2012) The Food Atrium business is a Star and needs to be cultivated into a Cash Cow The industry has the least number of direct competitors and hence there is more intense competition 15 . low switching costs and products are difficult to differentiate but easy to imitate Customers are price sensitive and value product innovation Restaurants is a Question Mark that contributes to 21% of total revenue and cannot be easily eliminated Faces stiff competition as restaurants has the highest number of direct competitors The existence of under-performing restaurants is affecting the overall group performance There is extensive room for growth as Singapore is one of the top three eating capitals in Asia-Pacific (SPRING Singapore.3. This process eventually aids in integrating a suitable strategy (Meng & Layton. 2011) in order to identify opportunities or threats within the industry to remain competitive. Outlets located new public transports system and also near some of the popular departmental store or supermarkets. It is essential for companies to analyze and perceive cognitive relations with rival partners. BreadTalk Group faces two type of competitor. . Food Republic mantra is to bring the best of local hawker and street food under one roof.5 Competitors ‘Analysis Competition and cooperation co-exist in various sub-fields of organizational strategies. 2011). BreadTalk Group distinguishes itself from traditional bakeries with its unique and innovative concept Food Republic invites and entices customers using unique thematic dinner concepts Brand competition – Brand Equity Despite losing out the first mover advantage in the Bakery industry. Form of competition Brand competition – Product Range and Selling Method Brands Justification BreadTalk Group has overcome this weakness by creating new innovations and engaging in strong differentiation strategy and marketing activities. direct and indirect competitor. BreadTalk needs to continue focus and invest in its food atrium business in order to reap more benefits 3. Most outlets can be found in accessible location with high pedestrian traffic flow to pull in customers as they walk. Bread talks possess strong brand equity. create greater innovation and competitive advantage (Pellissier. installing transparent glass panels to allow customers viewing of the whole bread-making process. Adopted an open kitchen concept for bakeries. Form competition (substitutes) Cakes Coffee shop/Food court BreadTalk Group not only focuses on the Bread but also providing cakes. BreadTalk Group may need to look on both attack and defense strategy to make effective solutions to counter various type off threat imposed by the substitutes to sustain in the industry. BreadktTalk Group has been aware of the competing to satisfy the need. 10 . Recreation of bygone eras or the charming retrospective styles of 60s ad 70s or an old Chinese village. quality and brand image. Focusing on hygiene.Form of competition Industry competition Brands Justification BreadTalk has created a unique selling preposition in order to prevent competitors from any direct attacking strategy. cookies and various seasonal products for all festivities Weakness •Lack of strategic and accessible locations to attract potential customers •Not constantly introducing new products to cater to customers' changing tastes •First movers advantage that open the ‘La Mian Xiao Long Bao” restaurant •Lack of new products to cater to customers' changing tastes •Among the first in Singapore to operate and manage food courts with a themed concept and serve a mix of local fare and international cuisine to give customers greater variety •Food Junction Privilege Card Member to enjoy discount and promotion at their premises •Did not bring in the best of local hawker and street food under one roof 11 . cakes.Players in the Industry Strength •Over 30 Years of experience in cakes and pastries •Offering traditional and "innovative-traditional" premium quality kueh. Lumpkin & Eisner. 2010).6 Strategic Group Analysis A strategic group is a cluster of firm which has similar strategies and rivalry would tend to be greater within such firms (Dess. A strategic group analysis was conducted for Breadtalk Group against its competitors. based on the perceived price/ quality and geographical coverage. Four Leaves and Prima Deli are emerging threats that can challenge BreadTalk in the Regional market in the near future Delifrance and Crystal Jade are strong competitors in the Regional market that possess capabilities of going global Product and brand differentiation to attract a younger and more affluent crowd and distinguish itself from its competitors Recommendations: BreadTalk to identify their target group and continue to build on the brand image for the specific target group To expand and reach into the global market in terms of joint venture or franchise Needs to stay as a leader in innovation and creativity 12 . Implications: Bengawan Solo.3. however there are also many other buyer in the market 13 . The five forces which impact the industry are threat of new entrants. 2008). easily imitated New entrants can climb the experience curve quickly Customer incur low switching cost Low government policy on setting up of F&B store in Singapore Breadtalk enjoy economies of scale Intensity of Rivalry High rivalry.3.7 Porter’s Five Forces Porter’s Five Forces is a useful tool which focuses on the forces which shapes the industry structure which drives competition and profitability (Porter. Bargaining Power of Buyer High bargaining power Low switching cost Many substitute and similar product in the market Buyer are price sensitive Threat of New Entrants Threat of new entrants is high Low barrier to entry Capital requirement is relatively low Weak product differentiation. intense competition Numerous competitor in the market Certain competitor in the market are of similar size and capacity High industry growth Low level of differentiation and switching cost Exit barriers are low Threat of Substitution High threat of substitution Low switching cost Numerous substitute available Cheaper alternative option available Lower cost and better product available in the market (hawker center) Bargaining Power of Supplier Low bargaining power Breadtalk has the ability to integrate backward Supplier’s product are common and largely available Numerous suppliers providing similar products Breadtalk is considered a large customer of the supplier. threat of substitution and rivalry among competitors. bargaining power of buyer. bargaining power of supplier. the F&B industry in Singapore is highly competitive with many competitors offering similar products at a competitive price. and yet value for money. premium. 14 .Implication Based on the Porter’s Five Forces analysis. BreadTalk will have to work on the R&D to ensure that their products are innovative. Competitors are able to imitate the winning strategy of their competitors easily and hence BreadTalk will have pressure to compete on low cost but high quality products. This is especially so when the consumers are highly price sensitive. 3.8 TOWS Matrix (O) External Opportunities Overseas Ventures and Expansions Target premium F&B market Increase in Tourist dollars Merger or Acquisition of other food businesses (T) External Threats Feedback on Publicity may cause bad image for the brand Intense Competition in F&B industry Over-saturation in Singapore market ST – Diversification Strategy Create Differentiation with distinctive competencies Strengthen and differentiate the existing product core competencies (S) Internal Strength Well-known Brand in F&B industry Strong brand Equity Innovative Products Strategic Retail Locations Wide Products offering (W)Internal Weaknesses Low Barriers to entry for F&B industry Cost increasing on Raw materials Easy imitation of products SO – Aggressive Strategy Well-known branding create good opportunities for diversification into other F&B business Expansion by integration of Cafés with bakery business WO – Turnaround Strategy Promote awareness of new and innovative products Training and Development for employees WT – Defensive Strategy Maintain current position and streamline all businesses Develop intangible and reputable core competencies 16 . 1 Business Level Strategy 5. expanding its food atrium business. it is recommended that BreadTalk Group adopt an overall cost leadership strategy & differentiation strategy.1. delivery service/catering/training hub) Research & Development in new and improved technology.3 Long Term Objectives Expansion into new markets (e.2 Future Challenges To ensure sustainable growth Having the capacity to venture into the global market Keeping up with the ever-changing consumer tastes 4. Porter’s Generic Strategies Using the Porter’s Generic strategies.2 Short Term Objectives Strengthen market position by enhancing existing products within the next 5 years To increase profit margin by 50% within 5 years To streamline the value chain. Problem Definition & Objective 4. Suggested low cost strategies include the following: Effective training programs to improve productivity Use of automated technology to reduce labor cost and wastage Good working relationship with suppliers to ensure low-cost in raw materials 17 .1.1. and venturing into more regional markets The increase in costs in streamlining and coordination of its businesses 4.1 Current Challenges Making sound decisions in expanding its business by acquiring new restaurants. Recommended Strategies 5.1 Problem Definition 4. reducing the cost of production 5.4.1.g. reducing the cost of administration To increase food atrium sales by 50% by 2017 4. As the restaurant segment has a growing potential. 5. as there are few competitors who can offer the same quality at a comparable price. In order to increase their revenue and profit.1 Franchising Franchising is an agreement between both parties where the parent company receives royalty or an amount of fee in exchange for the rights to use their intellectual property (Dess. BreadTalk Group can diversify into other cuisines such as Japanese or Korean. Through experiences gained. This can be done so by investing in R&D to improve on the quality of end products. 2010). Shared purchasing operation within the business units to increase bargaining power and lower cost BreadTalk Group can also go into differentiation strategy by focusing on producing high quality products.2 Corporate Level Strategy 5. they will be able to move down the experience curve and hence lowering the cost of production.1 Related Diversification Diversification enables an organization to expand their operations by venturing into new businesses. 18 . hence improving their market position in the F&B industry. power of buyer will be reduced. Lumpkin & Eisner. BreadTalk Group can go into a related diversification where they can benefit from economies of scope. They will need to continue selecting their franchisee carefully by setting high criteria and control measures to ensure consistency and quality of their products.2. leveraging on their core competencies and sharing their value chain activities (Dess. BreadTalk Group can continue to issue franchise rights for business operations in the foreign market. 2010). which are value for money. This will increase their brand awareness and expand their revenue base across other regions while limiting the risk exposure.3. 5. and have restaurants that has such strong market demand and appeal to the younger generation.3 International Strategy 5. With its low pricing and wide selection of high quality products. Lumpkin & Eisner. receiving only a portion of the revenue in the form of franchise fee will be one of the set-back of franchising. However. BreadTalk Group will have to determine their main purpose and goals to ensure that their partner companies are capable of assisting them in achieving the goals and objectives. 19 .3.2. Innovation is one of the key success factors and BreadTalk Group can collaborate with other related companies to improve on their current research and development team. BreadTalk will also be able to gain information on the local market preferences.5. Before entering into a joint venture. By working with the foreign companies. competitive conditions and other relevant information. A joint venture is an association of two or more companies engaged in a solitary business enterprise for profit without the need of actual partnership or incorporation. Joint Ventures BreadTalk Group can consider working closely with other firms in the foreign market through joint ventures to increase revenue. It reduces costs and enhances learning of the organisation through knowledge sharing. BreadTalk Group will be able to leverage and develop on the core competencies and technology of their partners to gain competitive advantage and strengthen their market position. Through the collaboration with other companies. 5 4 3 1 1 3 1 1 20 . Activities will be implemented over the next 10 years to spread out the cost to prevent a sudden surge in expenses due to the changes and to allow monitoring of the new changes to ensure its sustainability.5 0. Implementation Below highlights the proposed activities for the different strategies and their estimated cost of implementation.6. objective and goal R&D of new technologies and work process improvement Total 20 5 0.Diversification Develop diversification plan into other cuisine in the restaurant segment Setting up of restaurant outlet in Singapore Setting up of restaurant outlet overseas International Strategy – Franchising & Joint Venture Market and company research Development of joint venture plan. Proposed Budget Proposed Activities 2012 2014 2016 2018 2020 2022 (S$ million) Business Level Strategy – Cost Leadership & Differentiation Regular Market research and survey Develop and update training schedule for all employee Develop / source for new technology to improve productivity Streamline Breadtalk Group value chain activities Corporate Level Strategy . safety and environmental performance I5: To ensure high quality product delivered to consumer at all time Learning & Growth L1: Continuous training and upgrading courses for staff to improve on skills and service standard L2: Create a innovative and positive working environment 21 . customer.7. Lumpkin & Eisner. 2010). internal and learning & growth perspective. Strategic Objectives Financial Strategic Control Return on Capital Employed (ROCE) Gross profit to sales Net margin Cash flow Volume growth rate vs F&B Industry Mystery shopper rating Customer survey to understand the demand of the market Loyalty program Customer C1: To continually delight the customers with new innovative product which are value for money C2: To improve Customer Relationship Management and obtaining feedbacks for continuous improvement Internal I1: To be the market leader in the F&B industry by 2022 I2: To market their products through social media and other various means to reach out to target consumers I3: To lower production cost and operational cost To monitor competitors and adjust business level strategies to gain competitive advantage Sales revenue Profitability index Staff turnover rate and incident report Staff sick leave rate Quality control and random sample test Employee’s performance appraisal Training records Employee survey F1: To increase profit rate by 50% and improve market position by 2017 F2: To lower operational expenses by 2017 I4: To improve health. This will help to achieve sustainability of the business and gain competitive advantage over their competitors through well managed and integrated planning and control (Dess. Evaluations and Control The balance scorecard will be used to assist Breadtalk Group to identify the strategic objectives and control from the financial. 8 110 Restaurant 40.4*. 10.7.96 Food Atrium 49.10 Bakery 101.4 37 1.4 Relative Market Share (RMS) 1.2*.01 Notes: Figures asterisked represent Breadtalk’s sales within sector . 92.2 27. 39. 89.8*.8 52.2 Forecast Annual Growth Rate (%) 5.Appendix 1: Selected SBU Market Data 2011 Sales ($m) Number of direct competitors Sales of the 3 largest firms in the sector ($m) 101.2 850 40.8.9 0. 11 22.3. 49. Double Tax Deduction for Internationalisation. BreadTalk Group Limited. Retail Sales Index – Food & Beverage Servies Index April 2012. . Pellissier. Lumpkin. (2011). McGraw-Hill: New York. (2011). International Enterprise Singapore.gov. (2010). Harvard Business Review. 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