Please do not use AI. Secretlab is a Singapore-based furniture company. It was founded in December 2014 by former professional esports players, Ian Alexander Ang and Alaric Choo. The two founders invested S$50,000 into the start-up, with most of it spent on research and development. Its first product was a gaming chair (the Secretlab Throne V1) launched in March 2015. By 2020, the company sold its millionth chair, with sales in more than 50 countries.   Read about the origins and development of Secretlab: • https://secretlab.sg/pages/about-usLinks to an external site. and conduct further research into the company’s products and alliances over the years and any other relevant aspects of its growth strategies.  This question is asking you to analyse opportunities for entrepreneurship (including social entrepreneurship and identifying customer pain points) and important components of strategic plans for such opportunities. In that pursuit:  Based on Ansoff’s Growth Matrix, what are two (2) key growth strategies adopted by Secretlab over the years? What are some dynamic competences which Secretlab should have developed, to support such strategies?  You should support your discussion with relevant data and examples.

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Please do not use AI. Secretlab is a Singapore-based furniture company. It was founded in December 2014 by former professional esports players, Ian Alexander Ang and Alaric Choo. The two founders invested S$50,000 into the start-up, with most of it spent on research and development. Its first product was a gaming chair (the Secretlab Throne V1) launched in March 2015. By 2020, the company sold its millionth chair, with sales in more than 50 countries.   Read about the origins and development of Secretlab: • https://secretlab.sg/pages/about-usLinks to an external site. and conduct further research into the company’s products and alliances over the years and any other relevant aspects of its growth strategies.  This question is asking you to analyse opportunities for entrepreneurship (including social entrepreneurship and identifying customer pain points) and important components of strategic plans for such opportunities. In that pursuit:  Based on Ansoff’s Growth Matrix, what are two (2) key growth strategies adopted by Secretlab over the years? What are some dynamic competences which Secretlab should have developed, to support such strategies?  You should support your discussion with relevant data and examples.

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