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How can bring broader societal benefits to the community

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Reference no: EM133272228

Assignment:

Read the excerpt and answer questions, based on the excerpt.

The former campus of Loyang Primary School will be put to new use as part of a plan to refresh state properties, with a childcare centre slated to open in a two-storey building there.

The Singapore Land Authority (SLA), which manages state land and properties, is working to bring in other complementary tenants, to "introduce community elements" to the site in Pasir Ris Drive 6.

Announcing this in Parliament, Second Minister for Law Edwin Tong said: "These efforts, among others, will help to inject life into existing spaces in a manner that benefits both the business and the community, and keeps the use of state lands efficient and, of course, exciting and vibrant in the context of the community."

Mr Christopher de Souza (Holland-Bukit Timah GRC) had asked during the debate on the Law Ministry's budget about plans to repurpose and rejuvenate state properties. Given limited land in Singapore, said Mr Tong, optimising use of such resources is integral to sustaining economic and social development.

He added that in deciding how to use these assets, the Government considers not only economic returns, but also how they can bring broader societal benefits to the community.

To achieve these aims, it ensures that state land is put to productive uses and state properties are well maintained, and used in new and innovative ways, he said.

To this end, SLA, a statutory board under the Law Ministry, has engaged extensively with market players to identify fresh concepts for existing spaces, he added.

Besides the former Loyang Primary School, there are also plans to rejuvenate Gillman Barracks, the old colonial barracks-turned-arts enclave off Alexandra Road, said Mr Tong.

The area already houses art galleries and restaurants, and the plan is to bring in tenants that will offer "creative lifestyle concepts" to complement the existing tenants and increase footfall.

When asked when the pre-school will open, a ministry spokesman said MyFirstSkool had tenanted the space and the start date "will be shared when ready".

Adapted for academic use from The Straits Times 04 Mar 2022, Page B6

Task:

Set up a retail business (the nature of business is self-determined) in one of the repurposed state-owned properties. Visit the Singapore Land Authority website for more information about state-owned properties.

Using Questions 1a-1c to Singapore Land Authority, explain how a business can "bring broader societal benefits to the community".

Question 1. Based on the business you intend to set up, analyse the consumers you intend to target

Question 2. Select a government-owned repurposed building/site for the business, based on your knowledge of trading area analysis. Conclude how the proposed business can "bring broader societal benefits to the community".

Question 3. Evaluate how the retail promotion mix enhances the new business.

Reference no: EM133272228

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