Problem Statement

1. Problem Statement:

The flyer has been under receivership in May 2013, due to the lack of number of tourists visiting. Hence resulting in the revenue to decrease and ending up in receivership. The lack of novelty has also contributed to the as to why the flyer went into receivership.

2. PEST:

2.1 Political: It is the local laws, political stability or changes, government policies, legislation and regulations. First, the government needs to implement policies to allow the flyer to be built in the first place. Without it, the flyer cannot be constructed. Second, the government has to allocate land and resources to the construction of the flyer; otherwise the flyer cannot be constructed without the land.

2.2 Economic: It is the overall economic health of the country or region in which the organisation functions. In September 2008, there was a global financial crisis that hit Singapore. It was during the period that they flyer had just opened, hence it might have been hard for the economy to recover, causing the fall in revenue.

2.3 Socio-Cultural: It is the demographic characteristics, norms, customs and values of the population, which the organisation operates. After awhile, the novelty of the flyer wears off. Hence, most of the consumers will not take the flyer a second time, especially Singaporeans. Also, just in 2008 alone, there had been 3 stoppages. On 23 December 2008, the wheel was stopped and trapped 173 passengers for about 6 hours due to a short circuit and fire in the flyer wheel control room. Minority of the passengers is rescued using harnesses. The flyer restarted nearly 7 hours after it was stopped. As this was the opening year, it might have instilled fear in some tourists and Singaporeans and deter them from visiting the flyer. There was also another stoppage in July 2010, due to one of the electrical cable supplying power to the