Commentary

In just over a generation in Singapore, I have seen the emergence of 3 types of stores that I would frequent. As a kid way back then, it was such a treat to go to the neighbourhood “Mamak” Store to get my daily fix of candy and snacks for a mere few cents. Then in my adolescent years (definitely not my best ones as a typical awkward teenager), a weekly visit to the Department Store to gawk at the myriad of products under one roof was a real highlight. Today the store of choice is not one in which I have to travel to, in fact it travels with me wherever I go, the App Store.

There is a serious threat coming to the creative industry in Singapore, commodification.

I had completely forgotten about Christmas until I walked into a Starbucks and saw their annual special red cups and special Christmas coffee. We have just celebrated Deepavali – the Hindu Festival of Light (and enjoyed a day off in the process) and the Hari Raya Haji – the Muslim Festival )and will enjoyed another day off!).

Speaking and training around the world for the last decade has allowed me to compare many of the major cities from the perspective of a learning professional. In my opinion, to be a great centre of learning for business, a city needs well-resourced facilities, efficient infrastructure and a culture of excellence. It also needs confidence, certainty, community harmony and access to the best. For all these reasons – and more – I believe Singapore is the business learning centre of Asia. Confidence Without question, this is the main distinguishing factor of Singaporeans. This is reflected in the city’s ever-changing skyline, innovative infrastructure and world-leading facilities; but, most of all, in the smiles of the young people. It’s almost as if they know that, no matter what great achievements have been made in the last 47 years, greater opportunities lie ahead – with Singapore perfectly positioned to benefit from the might of an emerging Asia. Certainty In Singapore, everything works…well. In fact, I often notice the way some things are done in Singapore and think, “Why don’t they do it like that everywhere?” Training Edge International has a huge range of multi-national clients – many of whom are based in Europe. They have chosen Singapore as their regional base with branches in India, China and Indonesia. When I was speaking recently to the regional head of a large German company who started a serious push into Asia five years ago about why they chose Singapore, he said, “The choice was easy. Singapore is positioned perfectly; but, most of all, it gives us the efficiency and reliability that we are used to in Europe.” Business loves certainty, it gives them the confidence to invest in their systems and their staff. Community In a training session in Singapore, you are likely to have a number of different nationalities and cultures. I find this makes for a richer learning experience because of so many different perspectives. With such great diversity in a small space, Singapore is certainly a model of tolerance and harmony that much of the rest of the world could learn from. Access to the Best Singapore has a great reputation in the speaking and training professions worldwide as a place that respects and values learning and is keen to tap into overseas expertise. This is why in all the professions – from architecture to zoology – Singapore is able to attract the world’s best. In addition to these criteria, I have developed my own informal measures that I have found to be useful: Hotel Staff Index The bane of the business traveller is surly hotel staff – especially at the end of a long flight. Hotel staff in Singapore are not only unfailingly professional, they seem genuinely pleased to see you. Venue Staff Index As a speaker and trainer I have to deal with a lot of staff in convention centres, hotels and similar venues. In my experience, venue staff in Singapore achieve the magic double of being both willing and able. This is disappointingly rare. In many other places, those who are willing don’t have the capability – and those who are capable aren’t willing! As with the hotel staff index, this is a good sign that Singapore is a place to do business. Taxi Driver Index Taxi drivers in Singapore are, in general, happy. This is a good measure of the liveability of a city. If those in lowly-paid, stressful jobs can be happy, there must be something going right. Unlike many cities, they actually know where they are going and give the correct change! 

Imagine working for a company here in Singapore where all its employees, shareholders, customers, and vendors understand the company strategy and goals. Imagine working in a company where your internal and external audiences also feel connected to your values and mission – sounds imaginary? These companies exist and they create that type of cohesive corporate presence by building integrated communication efforts. The truth is that integrated corporate communications is not what most companies have. Most companies divide the communication function – investor relations, PR, internal communications, marketing communications, etc – into silos, each with its own agenda and its own set of messages for their specific audience. In these cases, integration of messages is voluntary. Communication efforts are integrated when the mechanisms, processes, and structure are in place allowing for the coordination of information and ensuring all areas of the company are speaking with consistent messages and in one voice to its various audiences. It’s strategic and intentional. It does not happen just because the people in these roles work well together. Integration DOES NOT mean centralization. Communications professionals can sit in different countries and business units. The integration of the communications function allows for company information to link and impact all of a company’s audiences simultaneously creating broader presence and enhanced image. Lack of integration in communication is why most companies have “split communications personalities” (a term I’ve coined), a condition whereby a company speaks to all its audiences with difference messages, in different voices, often creating a conflicting corporate image and presence internally and externally. Understanding and reacting to market realities make integrating communications efforts more pressing. Among the realities making the need for cohesive corporate communication necessary are: · Blurred lines between audiences. Employees are also shareholders, and shareholders are investors and customers. Analysts want to know more about a company than just its financial overview (strategy, product pipelines, CSR efforts, etc.). Consumers want to know more about the company they buy from than just their line of products. Are they receiving the same message from all parts of the company? · Government and regulatory oversight. Around the world governments and regulatory bodies continue to implement regulations that require not only more open communication on financial matters but also on how companies can disseminate information, to whom and when, particularly if the company is publicly traded. Consistent, synchronized messaging is critical. · Technology. The increase in use of technology means that information can travel to any person outside the corporation without going through firewalls. FaceBook, Twitter, LinkedIn, YouTube are powerful tools for building strong corporate presence and aligning with your audiences. This makes the need for integrated messages and coordinated release of information more critical than ever before. On a good day, not integrating corporate communication efforts can result in missed opportunities to reinforce corporate brand, image, and presence and achieve certain strategic goals. On a bad day, communication efforts that are not integrated can lead to crisis that affects shareholder perception, brand equity, market share, and consumer confidence. However, on both good and bad days integrated efforts can yield powerful results such as:

CEOs, Entrepreneurs, Business Leaders and Decision Makers take heed!

Many employers take the lead from the public service over many HR initiatives in Singapore. One of the most significant would be the 13th month bonus, otherwise known as the Annual Wage Supplement (AWS).

The sad passing of Steve Jobs Without doubt Steve Jobs rates as one of the most talented and creative geniuses of all time. His vision and ability to understand the trajectory of technology, and moreover his passion in bringing his vision to the market with unheard of simplicity and design beauty almost beggars belief. The sad lost to his loved ones and extended family that includes all Apple devotees cannot be understated. But his passing poses a more general question that needs to be explored! The big question Despite a number of years of warning of the failing health, reportedly, on announcement of his resignation from Apple the company share price still fell some 5.2%. Indeed so sensitive was this issue that prior to the announcement trading in Apple shares was suspended on the US stock market. No doubt Steve Jobs was a wonderful visionary, innovator and entrepreneur, but a company so dependent on the skill of a single individual is a company that perhaps has failed to properly embed innovation and opportunity capture skills into its business. So whose job is it? It’s the task of the chief of a company to set the agenda and provide leadership. It’s the job of the staff to do the work in implementing the strategy and plans laid out before them. No business should be too reliant on the skills of a single individual. Precisely the same can be said of innovation. Any organisation wishing to embrace change or innovation initiative needs to involve its entire staff to get the benefit of their combined knowledge and insights. Further, it is often the lower level staff that has the real and often unharvested insights into the business. For example, imagine if you wished to take a “big stick” to an airline to innovate its offering to bring new value and new ways of doing business to its customers. Would you speak with the pilots and top management or instead the passengers check in staff, the ticket sales staff, the refuelers and the baggage handlers. The answer is obvious, but have you ever asked the question. What about the Customers? How could we forget the customers!

A look around on the bus or the train in the morning reveals just how attached to our mobile phones Singaporeans are. It also looks as though everyone has a smartphone. That’s not surprising – Singapore has long been known as a country full of early adopters, and the appetite for mobile phones here, while limited in number (because of our small size) has not abated – Singaporeans are still looking for the latest, greatest mobile phone. These days, that tends to be a smartphone, something with an advanced operating system (OS), equipped with a decent camera, a powerful processor and substantial amounts of memory so that it can handle a multitude of tasks, from simple scheduling to media playback.

Are your Executives working below their pay grade?

Over 29,000 new companies were formed in Singapore in 2010, the highest number in the past 10 years. It is perhaps a sign Singapore entrepreneurs are confident about local and regionaleconomic prospects, despite uncertainty in international markets. At the recent G20 meeting in Cannes, France, Prime Minister Lee Hsien Loong highlighted Asia’s emergence as a growth region while the Euro-zone and United Statescontinue to work through their economic challenges. The PM however, was clear to highlight Singapore’s significant trade and investment reliance on developed markets, despite their uncertainties. So are there opportunities for Singapore startups and SME’s in developed economies, despite the downturn? The good news amidst this gloom is thatone developed economy has remainedeconomicallyresilientwhile experiencing a renaissance in its entrepreneurial environment– and Singaporean firms could benefit immensely. The Canadian Opportunity for Singapore Entrepreneurs Despite the economic difficulties of its largest trading partner, the United, States, Canada was named the top entrepreneurial hotbed amongst all G20 countries in a McKinsey & Company study released for the G20 Young Entrepreneurs Summit,which commenced November 1st in Nice. The report cited Canada’s protective and fluid environment for entrepreneurs, high quality of education, lack of taxes and regulatory burdens, and opportunities for collaboration as the main reasons. The United States were ranked 2nd in the study. The study also cited Canada’s strong culture of entrepreneurship, which respondents ranked third behind only India and China, as being particularly welcoming to developing ideas and concepts. This, combined with the stable business and regulatory environment Singapore entrepreneurs find familiar, could make Canada an excellent partner for new venture expansion. Canada also emerged from the global financial crisis relatively unscathed compared to most Western economies. There were three major reasons: its strongbanking institutions, commitment to free trade and open markets, and generally successful federal and provincial economic stimulus programs. Examples of Emerging Opportunities The economic stimulus programs helped spur Canada’s already thriving research environment, resulting in increased technological developments and startup foundations. These startups have proven technology and are hungry for international partnerships to further commercialize their knowledge. At the recently concluded Singapore International Energy Week, clean technologies from numerous Canadian companies were on display. Many Canadian firms are still in the early stages of exploring the Asian market with technologies that have succeeded in other economies. Many are actively seeking regional partnerships – partnerships that could easily be taken by Singaporean firms looking to expand internationally. In partnering with Canadian researchers, Singaporean entrepreneurs in technology can also open new avenues for the continued development of Singapore’s top notch tech and innovation infrastructure. With Canada’s world leading research,Singaporean firms could also be supporting national development through the inflow of high quality technology transfer. For example, the Southwest Ontario region of Canada, traditionally Canada’s Manufacturing Heartland, is being increasingly recognized as a hub of world leading research. Known for bordering the world’s busiest trade frontier with the United States (the Windsor-Detroit crossing), the region is also home to a large number of world class research Universities, include the University of Western Ontario and University of Waterloo. Involved in research around healthcare, ICT’s and clean energy technologies, there are numerous opportunities for technology transfer from this, and other, Canadian regions. The world famous BlackBerry is one example of research at the University of Waterloo that was commercialized for success. Leveraging the North American Free Trade Agreement (NAFTA) Finally, Singaporean business owners are now used to being on the doorstep to Asia and leveraging growth opportunities in the region. Likewise, Canada, in addition to its own strengths as anindependent economy, is on the doorstep of the world’s largest economy, the United States. Despite the downturn, the American bilateral trade relationship with Canada’s remains the world’s largest.NAFTA links 450 million people producing over US$17 trillion in goods and services. Singaporean startups can easily be a part of this economic model. A company can, for example, create a headquarters in entrepreneur-friendly Canada,while leveraging NAFTA to access American and Mexican markets. So while Asia provides great opportunities for Singapore’s growing entrepreneurial sector, and continues to be a light amidst the darkness of international economic uncertainty, there are still opportunities available in the developed economies of the West. A bit of research intoCanada may yield some greatopportunities for Singaporean firms and investors. 

Nothing beats than having a place to call your own, this has been an entrenched Asian mindset, especially in the context of land scarce cities like Singapore, Hong Kong and Tokyo, where having a place is a luxury but ironically, also an essential. Additionally, having a home is very much desirable in these cities as the society’s pace have been fairly fast in these places, adding on to the stress where working professionals are very much hopeful of having a place to connect with oneself at the end of the day and to re-charge for the following day’s requirements.

Business is all about growth. If you don’t believe me, read any of the great economists, from Karl Marx to J.M Keynes, Joseph Schumpeter or Milton Friedman. Whether they are monetarists or political theorists, whether they concentrate on demand or supply, they all end up believing in some kind of business cycle.

In our global community, talented people are making more connections and career moves than ever before. Technology advancements are removing barriers to working across borders, and those with transferable skills can choose from multiple avenues of work. More than ever, people view their skills as a tradable asset, as their prime competitive advantage and the key to unlocking their future potential.

Many CEOs and CFOs have told me that the return-on-investment (ROI) of branding can’t be measured. I don’t blame them because the consulting industry has come up with complicated measures of branding success or nothing at all. Branding ROI can actually be measured but that requires you to first understand what a brand is.

Innovation is about finding better ways of doing - What?