MINUTES OF THE FINANCIAL AND OPERATIONAL MEETING HELD ON 28 NOVEMBER 2013 AT 12:19 AM IN BLK 73 02-09

Present : Kenrick Tan (Chairperson) Munirah (Human Resource Manager) Zhang Qiu Ying (Finance Manager) Alyssa Poh (Marketing Manager) Poh Soon Tong (IT Manager)

Absent with Apologies: NIL

No.

Subject

Action

1. 1.1

Ways to Retain Sales of Japanese Tour packages The Chairperson inquired from members on ways to retain sales of Japanese tour packages as sales was sluggish for year 2013. Decline determined to be caused by disasters in 2011 and potential health hazards arising from the aftermath. Cheaper tour packages. Committee agreed that cheaper tour packages was proper to retain sales. Members established root cause of fall in demand for Japanese tours to high prices of travel packages. Since Singaporeans are cost conscience, lowering prices would be the appropriate strategy to adopt. Specialized Niche packages. Members also brought up the topic of specialized tours. It was mentioned that such tours would bring in a new customer base that were seeking a different experience. Luxury tours or Historical tours packages to Japan could feature unique places not traditionally found in normal tours Targeting unaffected areas. Members suggested tours to move away from affected or at risk zones of nuclear radiation. This would placate and assure customers of their health and safety, thus re-evaluating Japan as a possible travel destination. Other possible travel packages in North Asia & Marketing Manager

1.2

1.3

1.4

2.

2.1

Korea Members agreed that Korea was a viable option to create packages for as to cash in on the craze over Korean pop culture. Travel costs are cheaper in Korea. Packages to include visits to historical sites as well as areas where idols worked or dramas filmed.

BCOMM1 October 2013 Semester

2.2

Northern China The committee acknowledged Chinas ballooning population of people and its deep culture was great for attracting customers in search for business opportunities, or for a family vacation. Cost of labor would be substantially cheaper, thus the business should reap higher profits. Meeting also concurred on the notion that advertisements and promotional changes must be made gradual, so as to not overwhelm the limited manpower and capital of the company. Researching other countries The committee also suggested further exploration to be conducted for countries not mentioned. Certain employees would have to travel abroad to conduct first hand research and analysis of those places. IT Manager & Marketing Manager

2.2.1

2.3

3 3.1

Reducing costs and setting realistic goals Adjusting budget Meeting considered adjusting the budget to avoid possibility of financial debts. Budget can be adjusted by the Chairperson for any existing operations by the company. Details about adjusting budget will be made known at the next meeting. (Note: This item will be discussed under Matter Arising at the next meeting where the Human Resource Manager will give details about the budget.) Chairperson & Human Resource Manager

3.2

Cutting Costs The meeting suggested cost cutting measures such as merging of departments or to reassign manpower through job redesign. Combining departments and job enlargement should allow workers to work more efficiently and effectively as all of them are under a department. Ultimately, this would cut our costs by a reasonable amount. Details about cutting costs would be reported at the next meeting. (Note: This item will be discussed under Matter Arising at the next meeting where the Chairman will present his details at the meeting.)

Human Resource Manager

3.3

Reward for work The meeting discussed and agreed upon the use of Reward for

Human Resource Manager

BCOMM1 October 2013 Semester

outstanding performance in the company. This would help boost workers morale and confidence and thus increase productivity. Details about the reward granted would be reported in the following week. Any Other Business There being no other matters, the meeting ended at 11:34 am. with Chairperson thanking all members for their contributions. Date of next meeting The next meeting would be held on 5 December 2013 at 12:20 am at Blk 73 02-09

Recorded by: Approved by: Date:

Soon Tong & Kenrick (IT Manager & Chairperson) Kenrick Tan (Chairperson) 29 November 2013

BCOMM1 October 2013 Semester