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Super Turtle Public Company Limited 51(2) Project Management RiskThe Company is in the process of expanding its business, with a focus on operating Turtle shops and managing commercial leasing spaces across all 31 stations on the BTS Green Line. The Company also aims to further expand Turtle shops and secure additional commercial leasing spaces at other BTS and MRT in other lines.In order to achieve such goals, there are several uncontrollable factors namely construction permission, business registration, license application, construction management, sourcing of equipment and fixtures, etc. All these activities may fall out of track and cause delay, cost overrun, quality issues. The Company must be at all times alert and on top of these important project milestones to ensure activities proceed as planned and, if any slips or incidents, decide and act on mitigation or back up plans on a timely basis.(3) Recruitment RiskThe Company continues to expand its retail business, particularly by opening more Turtle shops. As a result, the Company needs to recruit experienced and skilled personnels in sufficient numbers to operate its business effectively. This included hiring a number of employees for the new Turtle shops within a limited timeframe.To reduce the risk of missing the personnel fulfillment target, the Company has reviewed its organizational structure to support its retail business expansion, added the necessary manpower and positions for both Turtle shops and support functions, conducted salary benchmarking with retail industry peers, determined compensation and benefits at a competitive level. Additionally, the Company has also prepared a recruitment and training plan that aligns with Turtle shops construction and opening plan. These measures should help retain employees and reduce turnover rates of employees working at Turtle shops, ensuring the standard of customer services offered to Turtle shops customers as well as reducing costs associated with recruitment and training.In addition, the Company has implemented a Balanced Scorecard System, (often referred to as the %u201cSteering Wheel%u201d) to effectively manage and enhance the operational efficiency of the employees, both at Turtle shops and at the head office. The Steering Wheel for 2025/2026, the Company is in the process of enhancing its Steering Wheel to improve performance evaluation of various aspects, including finance, operations, customer and people to better align with the business direction.(4) Inventory Management RiskInventory management is one of the key success factors of Turtle shops operations. The Company must, at all times, maintain inventory levels to be sufficient and appropriate for the needs of customers. Efficient inventory management will lead to increased sales for the Company following the growth in the number of Commuters. This will enable Turtle shops to align their costs and profits as planned and to make efficient use of working capital.Introduction Nature of Business Business Performance Corporate Information Corporate Governance Financial Report Attachment