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    International Business Singapore

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    Chipotle is an American fast casual restaurant chain known for higher quality ingredients and classic cooking techniques. While currently focused on locations in Europe, the document evaluates Singapore as a potential new market. Singapore is a small, densely populated island country with a highly successful, multicultural society and economy. As the top ranked country for ease of doing business globally, Singapore could provide a prime location for Chipotle's first Asian expansion. However, the company would face competition from existing fast casual chains like Subway, as well as local Mexican restaurants and hawker centers that are a staple of Singaporean food culture. Understanding key cultural differences around business norms and etiquette will also be important for Chipotle's potential investment and success in Singapore

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    International Business Singapore

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    api-313088558
    203 views16 pages
    Chipotle is an American fast casual restaurant chain known for higher quality ingredients and classic cooking techniques. While currently focused on locations in Europe, the document evaluates Singapore as a potential new market. Singapore is a small, densely populated island country with a highly successful, multicultural society and economy. As the top ranked country for ease of doing business globally, Singapore could provide a prime location for Chipotle's first Asian expansion. However, the company would face competition from existing fast casual chains like Subway, as well as local Mexican restaurants and hawker centers that are a staple of Singaporean food culture. Understanding key cultural differences around business norms and etiquette will also be important for Chipotle's potential investment and success in Singapore

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    Chipotle is an American fast casual restaurant chain known for higher quality ingredients and classic cooking techniques. While currently focused on locations in Europe, the document evaluates Singapore as a potential new market. Singapore is a small, densely populated island country with a highly successful, multicultural society and economy. As the top ranked country for ease of doing business globally, Singapore could provide a prime location for Chipotle's first Asian expansion. However, the company would face competition from existing fast casual chains like Subway, as well as local Mexican restaurants and hawker centers that are a staple of Singaporean food culture. Understanding key cultural differences around business norms and etiquette will also be important for Chipotle's potential investment and success in Singapore

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    203 views16 pages

    International Business Singapore

    Uploaded by

    api-313088558
    Chipotle is an American fast casual restaurant chain known for higher quality ingredients and classic cooking techniques. While currently focused on locations in Europe, the document evaluates Singapore as a potential new market. Singapore is a small, densely populated island country with a highly successful, multicultural society and economy. As the top ranked country for ease of doing business globally, Singapore could provide a prime location for Chipotle's first Asian expansion. However, the company would face competition from existing fast casual chains like Subway, as well as local Mexican restaurants and hawker centers that are a staple of Singaporean food culture. Understanding key cultural differences around business norms and etiquette will also be important for Chipotle's potential investment and success in Singapore

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 16

    Chipotle Mexican

    Grill
    Diego Acosta | Helder Damiao | Arvinder Kamboj
    Thao Ngyuen | John Swei

    Chipotle: An Overview
    "Food with integrity"
    Chipotle was founded in 1993 in Denver, CO.
    They are known for serving fast food that emphasizes
    "higher quality ingredients, classic cooking techniques,
    and distinctive interior design."
    Chipotle is considering opening locations in France, The
    United Kingdom, and Germany...
    So why not Singapore?

    Singapore: A Social, Political, and


    Economic Overview
    Quick Facts:
    Population of 5.5 million
    Area of 255 sq. Miles
    Languages: English, Chinese, Tamil, and Malay
    Life Expectancy: 82.3

    Singapore: A Social, Political,


    and Economic Overview
    Located at the Southern tip of Malaysia
    1 main island and 63 small islands around it
    71% Chinese
    Independence in 1965
    Unitary Parliamentary Constitutional Republic

    Singapore: A Social Overview, Political, and


    Economic Overview

    English is one of the main languages


    Pro-business government
    1st place rank in World Bank's Doing Business 2016 Report
    (US is 7th)
    World's 3rd Richest country
    GDP per capita: $61,587
    $1 US dollar = 1.38 Singaporean Dollar

    Subway
    A Competitor from the United States on the
    rise is Subway with now over 70 locations to
    choose from, mainly focusing in the southern
    regions.
    Subway entered in 1996.
    Their style of sandwich making and fast
    casual dining matches the food service
    model of Chipotle's.

    Local Competition
    Singapore posseses a variety of locally
    owned Mexican restaurants, such as
    Muchachos which is also very similar to
    Chipotle in style and menu offerings.
    Other local Mexican restaurants
    include Luncha Loco, Mex Out, Se or
    Taco, Cafe Iguana, Baja Fresh, and
    more.

    Investment Situation
    There is not yet a chain of Mexican restaurants in
    the Singaporean food industry.
    This signifies the potential of a market for Mexican
    cuisine and the opportunity to become the first
    successful chain of Mexican restaurants in the
    country.
    Unlike the competitors of server-based slow dining,
    Chipotle's fast paced style of eatery appeals to the
    busy lifestyle of the average Singaporean as well as
    the economically considerate prices. (Muchachos
    charges around $17 per burrito!)

    Locations to Invest
    Chipotle should invest in areas that are fastpaced and/or have a younger demographic, such
    as near the National University of Singapore.
    College students have a predilection towards
    fast food and are more open-minded in terms of
    different food tastes and styles.
    On-campus locations are potential prospects as
    well, further emphasizing the convenience
    without sacrificing quality.

    Hawker Center
    After being introduced in the 1800s,
    Hawker Centers have become an
    integral part of Singaporean food
    culture.
    Over 110 Hawker Centers are
    present in the entire Country.
    The most basic of fast food where
    succulent dishes are prepared for
    you on the go.

    Cultural Characteristics
    Based on ideology of racial and religious harmony
    "Face"
    Traditionally family centered
    Westernization of Singaporean youth

    Culture Characteristics Continued


    Singaporean food
    Hand things with two hands
    Addressing your elders

    Business Norms in Singapore


    Punctuality is expected
    Standard dress wear
    Business and food/entertainment
    Allow the host to order
    Inviting party pays the bill
    Leave your spouse at home
    Offer appropriate gifts

    Differing Business Cultures


    Understand how to work with people of different
    cultures
    You'll be dealing with either the Chinese, Malay, or
    Indian
    It is vital to know what good business etiquette is
    Learn your holidays

    Questions? Comments? Concerns?

    Reference :

    https://www.chipotle.com/company

    http://www2.qsrmagazine.com/articles/features/138/global_growth3.phtml

    http://travel.nationalgeographic.com/travel/countries/singapore-facts/

    http://www.businessinsider.com/the-23-richest-countries-in-the-world-2
    015-7

    http://data.worldbank.org/indicator/SP.POP.TOTL

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