Fassler Gourmet Singapore: Innovation from a Crisis

Martin Fassler’s dynamic entrepreneurial and innovative skills were evident when he saw an opportunity in the smoked marlin market and started his now-successful company, Fassler Gourmet (FG). After coping with the initial challenges that every new entrepreneur faces, he found success in supplying airlines flying out of Singapore, Bangkok and Seoul with original seafood dishes. Airline travel — and FG’s revenues — were decimated by the Asian Financial Crisis in 1998, the SARS epidemic in 2003 and the global economic downturn in 2008. During these hard times, Fassler excelled in innovation and diversification and developed five distinct and growing markets for exotic seafood. Rather than fire employees during these crises, Fassler instead reduced their work hours and thus cultivated an extremely loyal workforce. FG now works with many wholesalers, exporters, re-sellers, hotels, airline caterers, restaurants, cafes and sandwich shops and has factory outlet and home-delivery customers. Martin Fassler, now in his fifties, has reached a critical moment in his business career. Should he continue to lead, innovate and diversify further or should he begin to reduce his involvement? Selling a share to a new partner, handing responsibilities to his younger managers or divesting himself of this successful company altogether are all options, but risk alienating his loyal workforce.

This case is ideal for use in the fields of international business, international human resource management, innovation, change management and entrepreneurship. Students will be required to:<ul><li>Identify and analyze excellence in innovation and diversification.</li><li>Analyze and develop entrepreneurial options for success and choose appropriate business development strategies.</li><li>Develop management skills that will aid in success as future international managers.</li><li>Show confidence in developing strategies to promote employee loyalty and manage multicultural workforces.</li><li>Analyze and develop successful options for succession.</ul></li><br>The case could be used as a major written assignment in the second half of a unit; a group discussion workshop conducted in class over a 90-minute period; or a homework exercise where students come to class to discuss their findings and/or discuss and compare their strategies.

• Innovation
• diversification
• employee loyalty
• Singapore