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Blossoming Post-Pandemic
Blossoming Post-Pandemic
- Business Strategy Development
- Human Capital Consulting
- Customer Strategy
- Process Management
Since 1990, La Belle Collection has acquired a reputation for its preserved orchid gifts. By pushing the boundaries of innovation, the company has managed to carve a remarkable niche in the decorative floral ornament industry in Singapore. La Belle’s signature creation, the 24K gold plated orchid, has captured the hearts of tourists and orchid enthusiasts alike.
La Belle provides souvenir products to the tourist industry. Its main seller is the preserved orchids products, but it also retails other tourist related products. The company was heavily affected by the Covid 19 pandemic. Tourist arrivals came to a standstill due to the lockdown implemented by countries affected. With the post Covid return to normal, the company would like to achieve revenues similar to pre-Covid levels. In addition, the company wanted to improve on its product development, product cost and employee compensation.
Business Strategy Development
- Advancing the company with strategic development plans that focus on maintaining and defending core business while also nurturing and creating new business ventures.
- Focus on strengthening and utilising financial forecasts, budgeting data, and price computation to make informed strategic decisions
Human Capital Consulting
- Enhancing hiring, onboarding, and training processes to improve retention.
- Creation of compensation packages tied to KPIs to retain key staff.
- Proposed the use of KPIs as an indicator for salary adjustment, bonus, and profit sharing. Formulas for remuneration were developed and proposed to them and can be developed for future enhancement.
Customer Strategy
- Building awareness and establishing community ties through rebranding and digital marketing.
- Increase sales and market share by expanding product and service range, improving customer experience, taking note of new entrants in the industry
Process Management
- Proposed the development and implementation of robust employee evaluation processes, alongside strategies for product development, pricing, and marketing.
- Development and implementation of financial templates that calculate employee remuneration, reflecting their value to the company.
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Through the recommendations, the company growth in revenue is projected to be at $400,000, $710,000 and $850,000 for 2025, 2026, 2027 respectively.