6 Key Insights to Know from SATS Ltd’s Chief Executive

SATS Ltd (SGX: S58) is among the newest components of the Straits Times Index (SGS: ^STI), having joined the list only in September 2015.

The company has two major business segments, namely, Food Solutions and Gateway Services. The former covers airline catering, food distribution, industrial catering, and other services. Meanwhile, the latter sees SATS provide ground handling services of passengers, flights, and cargo.

Recently, SATS’s chief executive Alex Hungate was featured in an interview series. There might be things investors can learn from Hungate.

Here are six key insights I had picked out from the interview:

1. Rise of the machinesclick here

2. Productivity is boosting the bottom lineclick here

3. SAT’s competitive advantageclick here

4. The eCommerce opportunityclick here

5. Continuous learning

“I would encourage everyone to continue to learn. I don’t believe that in today’s fast-moving environment, any company can survive unless it is constantly learning and pushing itself to learn, so it can innovate continuously.”

Hungate will pass the ripe old age of 50 next year. But, he continues to believe in continuous self-improvement. In fact, he went as far as to say that constant improvement is crucial for any company when it comes to its ability to adapt and survive. This might be critical in today’s rapidly changing business and social environments.

6 .Do not fear failure

Improvement comes in many forms. Adapting to new environments is one way. Taking risks and experimenting would be another. But, there is a risk of failure. Yet, as Hungate notes:

“The more failures you suffer – as long as you don’t repeat the same mistakes – the better it is, as they will help you learn and adapt more quickly. I want every single one of my people – my children as well as my staff – to constantly challenge and improve themselves.”

In short, Hungate believes that failures play an important role in the education process. He does not believe that companies or people should be shying away from taking on new challenges or smart risks because of the fear of failure.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore contributor Chin Hui Leong doesn’t own shares in any companies mentioned.