Title of Paper Student Name Course/Number Due Date Faculty Name Title of Paper Your introduction paragraph should be placed here. Triple click anywhere on this paragraph to delete this text and replace it with your own introduction paragraph. The last sentence of the introduction should be your thesis statement which will explain your position on the paper topic and the three supporting points you will discuss in the body paragraphs. Place your first body paragraph here to discuss your first supporting point. Replace this text with your first revised body paragraph from Week 4. Place your second body paragraph here to discuss your second supporting point. Replace this text with your second revised body paragraph from Week 4. Place your third body paragraph here to discuss your third supporting point. Replace this text with your third revised body paragraph from Week 4. Your conclusion paragraph should be placed here. Replace this text with your conclusion paragraph. E-commerce (prospector) The advancement in IT has resulted in a decline of public mail volumes as they are being substituted by email and the internet. On the other hand, technology can translate to enhanced interconnectedness among countries and promote integration of postal offices around the globe. The company can implement a regionalization and diversification strategy to widen its market base as well as attract new revenue sources such as those dealing with e-commerce. After the company’s bid to be registered on the Singapore Stock Exchange in May 2003, it began implanting a series of corporate restructuring, reorganization, and reorientation to meet its rising customer needs such as financial services and e-commerce (Pleshko, 2006: 20) In order to capitalize on the strong trade relations that Singapore has with China which was identified earlier from the PESTLE analysis, SingPost can consider a strategic alliance with Alibaba to handle their logistic operations regionally. Furthermore, during the stakeholder analysis in Assignment 1, Alibaba has a 10%stake in SingPost, this will facilitate the process of forming the strategic alliance (Singapore Post annual report 2014/2015). In addition, Singpost has existing subsidiaries in countries like Australia, which enables them to shoulder Alibaba’s logistics operation for Australia. Adopting new technology to enhance e-commerce (prospector) According to a 2008 report as cited by Tan, in terms of Innovation and ICTs Singapore Post services was ranked 24th in Asian nations while Thailand was ranked 60th, Taiwan 17th Korea 31st. Ninja van is a Singapore based organization which promises reliable 24 hours delivery services, competitive rates as well as allowing customers to choose a delivery timing to their convenience. Its cloud infrastructure allows customers to track their orders anytime, offering perfect visibility on the status of their deliveries. Singpost can collaborate with Ninja Van to cater to customers who require urgent deliveries. Although there are POP stations located at various heartlands in Singapore, Ninja Van provides 24 hours delivery services. This ensures convenience and assurance to customers that their goods are in
safe hands. In order to capitalize on the market trend where businesses are shifting to the Internet of things(Waltzman & Shen 2015), SingPost can tap into Singapore's position as the largest tech startup market in Southeast Asia (Bischoff 2015). Singapore has strong research institutions and limited enforcement of non-compete clauses, a condition that academics suggest is a major driver of innovation (Singapore Press Holdings 2015). Singpost can create greater value for the Singapore market, which is becoming a popular startup hub for many multinational corporations. The injection of the entrepreneurial employees from these startups can stimulate the growth of SingPost, creating a sustainable competitive advantage. This is supported by Miles & snow typology where firm adopts a prospector strategy by embracing flexibility and innovation. Company merger (defender) Singapore Post has previously been able to acquire the Quantum Solutions and logistics companies. This strategic decision enabled it to expand its regional footprint. From this step, the company aims to create more mergers to enhance its regional growth and inclusion of other services such as vPost, online shipping, and shopping services. Through this initiative, SingPost purposes to increase its mailing revenue from 77% to an estimate of 82% in the year 2015/2016, ( OCBC Investment Research, 2009). Additionally, Singapore Post expansion to overseas markets will make it rise from its minute revenue of as low as 0.3% to almost 11% (Postandparcel.info, 2009 ). Expansion of South East Asia distribution network (DEFENDER) Due to globalization there is a need for regional interdependence and international trade has made it a requirement to evaluate information economy development policies in a broad spectrum. According to Friedman (2004), optic fibre cables has made the transmission of data appear seamless. Th SingPost has leveraged on a wide retail distribution network. SingPost intends to increase its customer’s base by diversifying service deliveries and allowing easy and convenience to its products and services. This will enhance the company’s competitiveness over other mailing companies. SingPost must ensure that its workforce remains capable and dedicated to warrant quality and timely delivery of Alibaba’s goods up to 99% success. Product innovation (PROSPECTOR) An innovative organization which is constantly seeking new markets and opportunities is said to be following the prospector strategy(Barney&Griffin,1992). One example of an organization that is practicing prospector strategy is 3M. 3M is a renowned organization for its creative invention (3M,2015). Its constant production of new ideas and products allow 3M to have a extensive range of products and market. SingPost is also known for its innovative products for mail solutions like A.M mail and Smart pac. SingPost should continue to invest in product innovation so that each new product can help in sales growth. According to the analyzer strategy by Miles and Snow, which is a hybrid of defender and prospector strategy, new product innovation in its mailing services is studied in four
business level strategies. The defender strategy holds that Singapore Post should implement a defender strategy attempt to protect its markets from new incoming rivals (Zubaedah, Fontana & Afiff, 2013: 6) It is from this strategy that SingPost shall narrow its focus in restructuring its technology and methods of operations. Singapore Post shall apply this approach by devoting its primary attention to improving the efficiency of its existing operations. In its defense mechanisms, its strategies shall be successfully implemented if they exist in a stable environment. Marketing opportunities; Defense mechanism In its prospector strategy, the Singapore Post company shall implement innovative prospector approaches that seek out new opportunities in its existing markets, as it takes risks and endeavors to grow. For the organization to successfully implement this strategy, its structure would be needed to embrace flexibility and creativity in its service delivery. Singapore Post should be prepared to experiment regularly its services and products with potential responses so as to develop approaches to handle its emerging environmental trends appropriately. Hence, Singapore Post aims to become the leading company offering mailing and other services in a dynamic and uncertain environment (Zubaedah, Fontana, & Afiff, 2013).
Customer retention and analyzer strategy (DEFENDER) Many organizations these days experience strategic drift, which occurs when they respond too slowly to changes in the external environment and continue relying on their current strategy. It is crucial that organizations keep up with technological trends and constantly introduce new ideas to satiate the market (Dwyer & Edwards 2009). Singapore Post’s implementation of analyzer strategies attempts to maintain their current businesses with fresh, innovative market-based ideas. The Mailing Company has learned that some of its products and services are tailor made towards stable environments, in which an efficient strategy that is designed to retain current customers is employed. It is also evident that others are targeted towards new and changing circumstances. Singapore Post strives to balance its production efficiency in its development of new product lines by employing creativity (Rappa, 2004: 60) It is through embracing analyzer strategies that the company will have tight accounting and financial controls as well as high flexibility. In-depth access to database and analytics tools will allow Singapore Post to develop targeted marketing campaigns, streamline operations, and adapt swiftly to market changes. In conclusion, Singapore Post is actively pursuing a multifaceted strategy that incorporates elements of prospector, defender, and analyzer approaches to adapt to the evolving e-commerce and logistics environment. The company's strategic agility, driven by continuous innovation, regional expansion, technological integration, and targeted customer retention efforts, positions it well to capitalize on emerging market opportunities and maintain competitive superiority in the Southeast Asian logistics landscape.