25th Dec 2011
Interesting News Extract of Lion City
The following commentary was written in Mandarin but it carries very clear notion about a public transport company (Mass Rapid Transit) corporate culture that ultimately would impact on both the customers (public) and shareholders (profits).
The commentary was on how Singapore Mass Rapid Transit (SMRT) has focused overwhelmingly on its profitability for shareholders and finally, somethings have to give way. And, the result is major breakdown cases of the trains operation over a few days period.
The questions to be asked,
(1) In this case, is efficiency meant for public service and safety OR efficiency in generating profits more important?
(2) Should a public transport company (though it’s listed) overwhelmingly focus on profitability and not the public well-being?
Very interesting read.