Nurul Farihah 2021496498 IM1101C MGT162 Tealive PDF

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FUNDAMENTALS OF MANAGEMENT (MGT162)INDIVIDUAL ASSIGNMENT(TEALIVE)PREPARED BY: NURUL FARIHAH SA’ADUN (2021496498) DIPLOMA IN INFORMATION MANAGEMENT (GROUP: IM1101C)PREPARED FOR: PUAN NORAIDA BINTI OMAR21 NOVEMBER 2021ACKNOWLEDGEMENTFirstly, I praise to the God, the Almighty, for His showers of blessi...

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FUNDAMENTALS OF MANAGEMENT (MGT162) INDIVIDUAL ASSIGNMENT (TEALIVE)

PREPARED BY: NURUL FARIHAH SA’ADUN (2021496498) DIPLOMA IN INFORMATION MANAGEMENT (GROUP: IM1101C)

PREPARED FOR: PUAN NORAIDA BINTI OMAR

21 NOVEMBER 2021

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ACKNOWLEDGEMENT Firstly, I praise to the God, the Almighty, for His showers of blessings throughout my research work to complete this research successfully. I would like to express my deep and sincere gratitude to my lecturer, Madam Noraida binti Omar for helping and guiding her students in completing the individual assignment given. It was a great privilege and honor to work and study under her guidance. I would also like to thank her for her kindness and strong dedication to her students. I am thankful for her acceptance and patience during the discussion me and my fellow classmates had with her on our online research. Besides, I am also grateful to my parents for their love, prayers, caring and sacrifices for educating and preparing me for my future. I also want to thank my fellow classmates for helping me by answering my queries. Finally, my thanks go to all the people who have supported me before to complete this assignment directly or indirectly.

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TABLE OF CONTENT NO 1.0 2.0 3.0

CONTENTS

3.1 4.0 4.1 4.2 4.3 5.0 5.1 5.2 6.0 6.1 6.2 7.0 7.1 8.0 9.0 10.0

Acknowledgement Table of content Introduction Company background Planning Vision statement Mission statement Types of plans- practiced by the chosen company Organizing Organizational structure Types of departmentalization Leading Leadership approach available in the company Empowering their employees Controlling Controlling method used by the company Conclusion Reference Appendices

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PAGE 2 3 4 4 5 5 5 5 8 8 9 10 10 11 12 12 14 15 16-19

3.0 INTRODUCTION 3.1 Company background Tealive was launched on February 17, 2017, by Bryan Loo, the Loob's Chief Executive Officer, with the goal of elevating tea to a new level. Bryan Loo, the company's CEO, started the business six years ago in the Pavilion KL store, where he initially served brewed tea. The brand has grown to 165 sites by the end of 2016. Tealive used to be called Chatime, from the Chinese word for tea, Cha. As a result, teatime is now known as Chatime. However, La Kaffa International, Chatime's parent company, elected to dissolve its agreement with Loob Holdings, a Bryan Loo firm, in early 2017. The contract between La Kaffa and Loob was called off owing to a disagreement between Taiwan and Malaysia over Chatime's economic attitude. Bryan Loo, CEO of Loob Holding, launched Tealive two months after losing his Chatime franchise. Tealive's first store outside of the United States has just opened in Vietnam. As a consequence, Tealive has been appointed the legal successor to Chatime Malaysia, and CEO Loob Holdings is eager to put the past behind him and concentrate on Tealive, which has gone from corporate divorce mayhem to brand new in less than 50 days. Tealive will be their fresh beginning in reviving tea, with four unique drinks: brown sugar pearl milk tea, roasted milk tea with handcrafted pearls (sweet potato), trademark passion fruit green tea, and grapefruit chia tea booster.

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4.0 PLANNING Planning is the process of defining the actions necessary to achieve the organization's objectives. Every business has a certain aim in mind to determine if it will be able to launch smoothly or not. Every company's mission and vision statements are unique. 4.1 Vision statement As the future emphasis of the bubble tea market, make our brand known for embracing current technologies and product advancements. 4.2 Mission statement Expand and grow our brand within Malaysia across five countries which includes Australia, China, United Kingdom, Japan, and Thailand.

4.3 Types of plans Tealive supervisors and employees must follow a strict dress code. The company's operating hours must be followed by all employees. All employees must wash their hands before beginning work. Both managers and employees must wear masks. Employees are not permitted to smoke in the workplace or on the premises. Employees must have confidence that the company's environmental hygiene policies are followed. The company has opted to expand its territory by opening new locations in other Malaysian states in response to rising demand for its sweet and intriguing beverages. The firm has demonstrated extraordinary creativity by producing a new product that can compete with the competitors. One of the new goods launched is yoghurt pop pop pearls of mango milk tea and mixed fruit.

Apart from that, the bubble tea industry in Malaysia has gone a long way, surviving a slew of food and beverage fads. The tea beverage, which originated in Taiwan and is known for its chewy seafloor tapioca pearls, has become a staple. There are already 45 bubble tea shops in the United States. Chatime, Tealive, The Alley, Tiger Sugar, Gong Cha, and Koi Thé are some of the most well-known brands. The "bubble tea mania" has expanded as more businesses, both indigenous and branch outlets, have opened around Malaysia. Since its inception two years ago, one brand has been steadily rising. Loob Holding Sdn Bhd owns Tealive, following a dramatic commercial break with La Kaffa International Co Ltd, which terminated Loob Holding's Chatime franchise agreement. Tealive has expanded to over 200 5

sites around the country since then. As a result, Loob Holding, which also owns Ko Ko Kai, Gindaco, and Define Food, is expanding. In Manchester, the United Kingdom, the firm has launched its first European Tealive factory. It plans to open a second site in London later this year. In its first year of operation, the firm intends to open five sites around the nation.

Besides from that, Loob Holding has announced intentions to hire 1,200 to 1,500 new staff in Malaysia over the next two years in order to open 250 new Tealive locations by mid2020. In addition, the company has moved to China, where it wants to open ten corporate stores to test its business model before contemplating franchising. Given China's massive bubble tea business, this may be interesting to investigate. In both China and Taiwan, there are more than 20 bubble tea shops. In the meanwhile, Loob Holding is considering an initial public offering (IPO) in Malaysia, in addition to rapidly growing. Bryan Loo, the company's chief military officer, confirmed the idea a few months ago, saying that the company plans to go public in the first part of next year. He couldn't confirm the suggested valuation or the IPO portion until he got the experts' final recommendations. The effort might fetch the group up to RM300 million, according to a report quoting sources familiar with the matter. Loob Holding, according to the sources, has recruited professionals to assist with the potential stock sale. According to them, the company wants to be valued at least RM1 billion. However, they cautioned that the IPO idea is unlikely to succeed because it is still in its early phases of development. If Loob Holding goes public next year, it will be compared to other publicly traded Malaysian food and beverage firms like Berjaya Food Bhd, which operates Starbucks and Kenny Rogers restaurants.

Though no details about Loob Holding's planned IPO have been confirmed, the company's alleged valuation threshold of RM1 billion exceeds Berjaya Food's current market value of RM641.58 million as of the national holiday. With a price-to-earnings ratio of 28.59, Berjaya Food's stock has been moving sideways over the past year. On the other side, the stock has risen by 28% this year, ending at RM1.79 on Friday. Loob Holding isn't the first bubble spoon in the region to go public. La Kaffa International, which has a market valuation of NT$4.71 billion, has been listed on the Taipei Exchange since 2012. (RM625.33 million). It is Taiwan's only publicly listed bubble tea company. La Kaffa intends to list a subsidiary on the Australian stock exchange in the third quarter of 2019, according to local Taiwanese 6

media. Last year, B&S International Holdings Ltd, the firm behind the famous TenRen series, listed on the local exchange. It has a market value of HK$332 million as of May 21. (about RM177.16 million). In the last year, La Kaffa's stock has increased by 47 percent, whereas B&S International's stock has decreased by 62 percent.

Bryan Loo used SWOT analysis to decide the business's path. SWOT stands for strengths, weaknesses, opportunities, and threats. Tealive's strengths include its over 70 exquisite Tealive drinks and menu, as well as its 159 stores around Malaysia. As a result, Bryan Loo launched "Tealive" as a brand that elevates tea consumption.

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5.0 ORGANIZING The process of defining what tasks must be completed, who will complete them, and how they will be managed and coordinated. It also involves structuring or arranging the relationships among people, the work to be done, and the resources available such that objectives are met. 5.1 Organizational structure

Tealive is a large organization that requires functional organizational design. Tealive's corporate organizational structure consists of the chief executive officer (CEO) Bryan Loo, followed by the chief operating officer (COO) Cheng Leng Loo. Followed by the Director of International Business Development Bryan Yeow, Director of Restaurant Malcolm Goh and Ryan Yeoh (GM, Full-Service Restaurants), Operation Overlord Tan Boon Keng, Master of Management (Shared Services) Jessica Lee and Dassy Chan. Tealive’s is a functional organizational structure. Tealive’s structure design can easily organize the structure of the entire company, which is also a structure used to organize the distribution of workers. Tealive is grouped according to the different work skills of each employee. It organizes each department in a vertical manner, from the president to the finance and sales department, to the customer service and human resources department, to the employees assigned to the product or service. This organization can organize various departments to report performance or decision-making to the main senior management, and usually the final decision will be passed

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to the top management for decision. Each department will receive the instructions given to it to carry out the operation of each department.

5.2 Types of departmentalization Geographic structure is important if regional tastes and brand reactions differ since it allows for more flexibility in product supply and marketing strategies. Because of the importance and availability of foreign resources, as well as distribution techniques and regulation, geographic structure may be necessary. Tealive is well-known for its regional structure and strategy to localizing beverage preferences. This layout is ideal for companies who require close proximity to their suppliers or consumers. They need to come up with new flavors to go along with their present beverage range. For example, Tealive just developed a range of taro milk teas and smoothies. After successfully bringing Vietnamese specialty coffee to Malaysia, Tealive became a Holic partner. In addition to the beverages, Tealive also launched "Mighty Mam Mam," popcorn chicken nuggets, cheese pieces, and other meals. Some parts have been passed down from Tealive forefathers, and there appear to be within Tealive worries about maintaining the old way of doing things while changing things. In fact, for the next three years, they'll be concentrating on expanding their brand. By 2020, the company plans to expand to 15 more markets. Bryan is renowned for sayings like "Born in Malaysia, grew up for the world," but they'll focus more on native Malaysian flavors by using their bigger globe as a mood board. The result of this emotion is becoming a reality.

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6.0 LEADING The definition of leading is about consists of motivating employees and influencing their behavior to achieve organizational objectives. Leading focuses on managing people, such as individual employees, teams, and groups rather than tasks.

6.1 Leadership approach available in the company Byran Loo has over 100 followers in Malaysia, as we all know. Despite his success, Bryan Loo's company management must have been meticulous up to this point. In that video, Bryan Loo explains how Tealive's leadership keeps track of and manages a workforce of over 1,000 individuals. With a present staff of 1.500 workers and plans to add another 1,500 in the next two years, Bryan Loo of Loob Holding understands the importance of sustaining a trustworthy corporate culture. Loob Holding is based on four values, according to him: entrepreneurship, enthusiasm, cooperation, and honesty.

"A lot of people say it's from my surname," or the Loo brothers, or Loo Bryan, but it's actually "Looking out of the box," as Bryan stated. Constantly "thinking outside the box" permits the company to ask difficult questions about what it would take to develop a specific type of future organization.

Bryan also admitted that he had doubts about himself because he does not have much financial support from his family and can only open one business. There was also the impending possibility of strong rivalry from the market's retail behemoths. Bryan remarked, "We were simply two budding entrepreneurs trying to create one bubble tea store." Loob Holding would be a people-oriented company with entrepreneurship at its core, he knew from the start.

To flourish, everyone who joins the organization must cultivate an inner entrepreneur mentality. Bryan believes that having an entrepreneurial mentality is more than just saying the words. "In the long term, I'd like to be an entrepreneur." Entrepreneurs frequently begin without direction but continuing to develop skillsets along the road is critical for development. 10

6.2 Empowering their employees Loob Holding employs an open hiring approach to boost its ever-growing staff when it attracts competent individuals. Rather than aggressively filtering out individuals during the recruiting process, he thinks that all possible candidates should be given the chance to choose whether Loob Holding is a suitable fit for them. The goal of Loob Holding is to establish an aspirational company where everyone appears to be striving for something. The organisation aspires to be forward-thinking, with the purpose of allowing everyone who joins at any moment to join in on the trip and give it their best. The capacity of Loobies to advance in their careers is a long-term aim, assisted by the company's continuous development and creation of new chances.

Despite the benefits of bringing in fresh blood, Bryan believes that bridging the gap between old and new has become one of his most difficult difficulties. He wants to make sure that senior staff have the tools they need to further their careers inside the company, while simultaneously allowing newer employees to take the reins. He believes that keeping a positive attitude about such problems is critical to resolving them. Bryan has no qualms regarding the way Loob Holding has progressed thus far. Their objective is to never look back on what has to be done, no matter how well it was done, and to keep going forward.

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7.0 CONTROLLING Making something happen the way you want it to happen is what control is all about. Controlling is described as the process of ensuring that actual operations match those planned. Thus, controlling is the process of monitoring performance and acting to get the intended goals. 7.1 Controlling method used by the company Given Loo's track record and his company's fast growth in recent years, the prospects look promising. LOOB Holding has expanded to over 1000 employees servicing over 3 million consumers in over 200 locations throughout the country since introducing Tealive to the Chinese, Vietnamese, and Australian markets. The firm has said that a projected initial public offering (IPO) will be utilized to raise capital for expansion. According to Loo, the firm plans to finish the strategy in the first half of 2020 and achieve regulatory compliance for the listing by the end of 2019.

As a result, an IPO is very much in the cards right now. The firm began preparing for it earlier, and the company team is still weighing their options. They know their established aims for the next 2-3 years are extremely feasible at the management level. As a result, they are aware that they will need to go to the stock market to fund regional development. If all goes according to plan, LOOB will become the first publicly traded firm in the area for bubble tea or lifestyle tea with its Tealive brand.

Furthermore, they intend to be present on four continents by 2020. Given their present momentum and market reaction, this is probably possible. They've established a brand goal of being a global lifestyle tea player. They've had the good fortune of dominating the bubble tea market in Malaysia, their own country. They'll have to do it again in the markets where they do business."

Beyond the IPO, LOOB is examining its front-end and back-end technologies, gaining more control over the materials and supply sources it utilizes in its products, and finetuning its supply chain management to be in tip-top form by 2020. Tealive wants to expand into ten additional nations that year, and in order to meet its goals, the company pays special attention to knowing its customers' palates and, as a result, the local tastes of everywhere the 12

brand operates. According to Loo, the company intends to keep up with the times by carefully selecting partners in each country and consistently localizing its offers. Apart from that, Tealive has recently partnered with Malaysia's national oil company, Petronas, to establish a minimum of 300 outlets in the next three years. Petronas now has over 1,000 service stations, indicating that the company's potential is enormous. Other collaboration partners, such as LRT and MRT stations, colleges, and shopping centers, are also produced. "When LOOB enters a replacement market, there is no fixed recipe or secret formula. Each market also serves as a learning opportunity. They frequently take their time to choose a highly effective and dependable partner who will offer value to the alliance and, together, they will develop the extra synergy required to ensure success in each market.

8.0 CONCLUSION

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In conclusion, with an ever-increasing number of bistros and cafes springing up each day in Malaysia, having incredible tasting nourishment and a decent feel is not, at this point enough to prop Tealive’s FnB business up. Tealive will also need a solid marketing strategy in place if they want to stay relevant and outperform their competitors. Tealive will most likely become an empty cafe or café if it does not have one. Fortunately, they have a variety of options for promoting their bistro or cafe to potential customers. Tealive may gain the trust of established companies by collaborating with them to offer promotions, in addition to luring people in with restrictions and coupons. The finest advertisement, on the other hand, is not a costly war. Rather, it's Tealive's commitment to creating a bistro or café experience for their customers that they'll want to return to on a regular basis.

9.0 REFERENCE 14

 Course hero (t.t) COMPANY BACKGROUND TEALIVE: https://www.coursehero.com/file/37658750/COMPANY-BACKGROUNDTEALIVEdocx/

 Course hero (t.t) tealive all: https://www.coursehero.com/file/66324656/tealivealldocx/ 

Article (the edge markets) (t.t) tealive spotlight aggressive growth ipo plans: https://www.theedgemarkets.com/article/tealive-spotlight-aggressive-growth-ipoplans

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Loob (t.t) our people: https://www.loob.com.my/our-people

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Course hero (t.t) SPM individual assignment: https...