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Frasers' outstanding properties benefit from their prime locations in key cities such as London, Paris, Glasgow, Singapore, Seoul, Manila, Bangkok, Tokyo, Sydney, Beijing, Shanghai, Nanjing, Hanoi and Shenzhen, which have provided us with significant competitive advantage in the local and global marketplace.
The brand-customer philosophy provides the foundation of our management excellence for our colleagues, our customers and our business partners - an all-encompassing relationship marketing focus on being continuously innovative to meet unique needs locally and globally. Our deep commitment to service excellence has resulted in customer satisfaction and has earned Frasers accolades and awards such as the prestigious People Excellence Award in 2006 and Singapore Service Class Award in 2005 by SPRING Singapore.
Our obsession for excellence has resulted in outstanding customer satisfaction, innovative lifestyle offerings and increased customer preference through a customer-oriented culture with a combination of co-operation, communication and commitment.
Recognising that our people are our most precious resource, we internalise the brand philosophy by encouraging our employees to embrace Frasers' core values, which focus on responsiveness to clients' demands, sense of ownership, commitment, innovativeness as well as teamwork.
Our people are responsive to the needs of our guests and will respond promptly to their requests. There is also a deep sense of ownership and commitment, both displayed by the individual staff to the entire team at Frasers, in order to ensure that our guests enjoy their stay with us. Furthermore, proactive actions are taken to ensure that we excel in our delivery of quality, innovative solutions to the business travellers.
Moreover, our people have the benefit of world-class human resource programs and systems are designed to attract, retain and develop the most qualified individuals. Our training programmes encompass the development of both the soft and hard skills backed by positive and constructive individual coaching, and feedback with comprehensive policies and procedures to encourage a learning environment.
View "Human Capital 7S Strategy" in Adobe Acrobat format. (Filesize: 8KB)
Frasers has implemented the Balanced Scorecard throughout the enterprise because that framework helps foster alignment between our vision and our business. At Frasers, we have strategically and tactically employed the Balanced Scorecard to gear our strategy framework around financial performances, customer service, efficient business processes and innovative solutions. Clear action plans are painstakingly formulated by the various functional units and then implemented with the ultimate organization goals in perspective.
Frasers understands what the informed traveller values. Hence, in designing our Balanced Scorecard, we carefully select measures such as brand equity and key strategic performance measurements including financial results, guests' satisfaction and performance standards necessary for achieving long-term sustainable growth in all our properties.
The Balanced Scorecard is nothing new but at Frasers, we have put in effort to formulate the various action plans that distinguish us from our competitors.
Frasers leverages on an integrated global sales and reservations' network linking both the source and destination markets. Our integrated system provides our people with the opportunity to cross-sell, initiate new promotions as well as create referral opportunities.
We have hassle-free and one-stop reservation services. Our central database and sales management system boast of an impressive customer base which includes international corporations and Fortune and Forbes list of companies.
At Frasers, we recognise the importance of managing our corporate brand and identity. As a key component within our corporate strategy, the Frasers Brand has become the central organising principle within our organisation, guiding every decision and action.
We have employed the Fraser Brand through consistent messages and communication in our advertisements, promotions, direct mails, press/public relations, sponsorship programmes, strategic alliances and the website. In the process, we have balanced all of our stakeholders' interest to establish optimum brand strategies by developing strategic and tactical initiatives to increase brand equity.
Frasers is proactive in identifying and understanding the changing needs of our informed traveler by keeping abreast of social trends, emerging attitudes and needs. At Frasers, we look beyond the current and provide innovative solutions that often surpass our guests' expectations.
Our range of innovative offerings and enhancements for residents and corporate customers include: the Fraser Privilege, Fraser Spa, Fraser Branded Services and the Fraser Kids Club. In providing these offerings, we have moved the serviced apartment industry a new milestone ahead.
As part of Frasers' continuous relationship marketing programme, we have cultivated a network of support in the key areas of management, technical, pre-opening, finance, operations and marketing services. A qualified team of architects, interior designers and other service consultants are carefully selected and recommended to meet international quality standards.
They will also review and oversee the conceptual design, area allocations, apartment configurations, M&E specifications and layouts, fire and life safety standards, operational logistics, room, mock-up room fit-out, FF&E requirements, pre-opening critical paths and site progress. In addition, the Technical Services Team will assist owners in Design Innovation, maximising cost savings by simplifying layouts, providing efficient circulation patterns and directing the design toward minimum 'static space' and maximum 'profit space' in public areas and guests facilities
Frasers has enjoyed operational and financial excellence.
Operational excellence: The successful launch of our flagship properties in Singapore - Fraser Suites and Fraser Place in 1998, marked a new beginning of the Frasers Team's expertise in running a successful serviced apartment business. We achieved occupancies of over 80% for both properties in the first year of operation with enviable Average Daily Rate and Gross Operating Profits. Year 2002 is another milestone whereby Frasers' success was replicated in 3 other cities, namely London, Seoul and Manila, where occupancies climbed exponentially at above 90% making Frasers Residences the market leader in the city of operation.
Financial excellence: Frasers has been achieving and exceeding financial budgets. We have worked hard to achieve this financial excellence; our value propositions to our residents are being constantly reviewed and refined. Innovation and creativity are the two values we strongly believe in when carrying our daily challenges.