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Almost There

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Submitted By ehhna
Words 3101
Pages 13
Elements of Business Project

Group Members:
Lee Chiew Yen (07)
Ang Rui Mei (12) Joana Ng (14)
Lee Jia En (17)

Class: BJ1501O

Lecturer: Mr Raja

Content

Description of the objective of business organisation

Company Background Information

TWG Tea's parent company, The Wellness Group, was founded by Manoj M. Murjani in 2003. It was established in 2008 by Manoj M. Murjani, Taha Bouqdib and Maranda Barnes and they opened their first tea outlet in Raffles Place's Republic Plaza. Within 6 years, TWG have a number of 44 salon, stretching across 15 countries.

TWG has become The Wellbeing Group and was co-founded by Taha Bouqdib, Maranda Barnes and Rith Aum-Stievenard in 2008. The founder of TWG, Murjani had left TWG in 2012 to spend more time with his son who is studying in London. Taha Bouqdib has become the Sole Founder and President of TWG. TWG stores spread across 42 countries and it has 27 stores worldwide, with another 12 stores scheduled to open before the end of the 2013.

Objective of Business (a)

Economics:

Profit Earning – TWG have their profit earning through their goods and services, also from shareholders too. One of the major shareholders was OSIM.

Production of Goods - benefited TWG is because they provide a full service that is designed to fit your needs and also producing goods that have market demand.

Stakeholders:

Welfare of Employees: Taha Bouqdib has said that “It is necessary to recognise your staff’s achievements, what they have done and are doing to add to the success of the company, and to reward them so they are motivated to keep up the good work.” in an interview.

So TWG rewards their employees for helping in increasing the profitability of the company and might reward them with bonuses, increase of allowance or maybe welfare benefits.

Satisfaction of Consumers: More than average has good reviews

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