Commentary

A recent survey conducted by the National University of Singapore (NUS) Entrepreneurship Centre shows that the majority of students in Singapore’s various universities and polytechnic institutions are interested in starting up their own business.

The Grand Prix rolls into town next month and among the clouds of smoke will be one of uncertainty over the sport’s future presence in the city.

In Singapore and many Asian countries, families and businesses take pride in 'Having Face' or 'Reputation'

Singaporeans have been crying foul over employers favouring foreigners, which account for one-third of the country’s workforce today. The effect of the recent influx of foreigners (increasingly crowded public transportation systems, rising housing prices, etc) has also caused some discomfort to the local populace.

It is a perpetual cycle – you pay more, to get better training quality (?), with a tag attached. Professionals around the world carry a name, a prestige, and not easy to book their time. We hear them at breakfast meetings which is hardly one hour talk for hefty fees. I remember we used to invite such ‘’scholars’’ not much for training; but for networking. They can bring you useful contacts. I once attended a Talk by a renowned professor. He invited us on his yacht. There were 15 of us. The talk was hardly 20 minutes. You mingle with the participants – CEO, Business owners, Academics, etc. It is up to you to know them and explore the opportunity to benefit from knowing them. Yes, I remember. We also attended a ‘’retreat’’. You go out of the office environment for two to four days. I went to Sentosa Island (Singapore). You are locked in one large function room of a hotel. There is of course, good concentration to what the professor says. And, being in-house program, you do not have to worry much for networking. Though I was surprised not to have known well few from my own enterprise. Then, there are Assessment programs – usually named differently. They call it EQ or AQ, claiming that senior managers must have resilient powers. Again, outstation and locked in a room for the first session of the day. You are given few pages of questionnaire. Once attended, there is a break of one hour. You get refreshed with tea/coffee and snacks. They use the time for assessing the participants. The bell rings and you gather back in the room. It’s like examination result! They tell you who you are (you did not know yourself till that time!). The best part comes when percentages are played. Majority of the class lack in particular skills. To survive in the business world, you have to prepare them – they are your senior managers. So? Engage them for a training program of one or two weeks. In my early days, I have attended two or three days training, mostly in a public program in a city hotel. We were serious in learning then. We bring home valuable one or two techniques to benefit the organization. In the end, if you find the trainer/speaker appropriate to your organization, invite her/him for further training in-house. The purpose is more people from the organization can benefit and you have relevant topics discussed. Who needs training? Is there a need? If sales are not improving, send sales personnel for sales training. Is it the person or, the product weakness? Coaching for example, was considered as weakness of individual. Coaching was provided for improving the weakness. Today, providing coaching or a personal coach is a reputation – she/he is deemed for promotion and is being groomed for higher position. At home front, engaging a Fitness coach is now a fashion. We have a personal coach! At my Gym, I notice many coaches are busy telling stories or discussing current events, asking personal details (what time you go to sleep, where did you go this weekend). There are some who are really organized. They have written program for every session. Same is the case with education. If your child takes tuition in my early days, she/he is ashamed for being weak in studies. Now, it is a prestige to join popular Tuition class. I remember early days, there were teachers conducting classes with Video instructions to cope with the demand. Nowadays, they make use of technology and have interactive videos. A teacher sitting in another town conducts video classes. They will physically see the students, may be once or twice in a month. Universities have adopted the same style – a foreign university professor visits once a month, for question-answers. It used to be ‘’what’s good for participants’’. Now, changed to ‘’what’s in it for me’’. Training industry is not yet regulated! I was using the “Slide rule” in my college days. Now, all is computerized. You have to take tuition for mental calculations. In early days, entrepreneurs will not allow their children to use calculators. The use of Abacus is almost in a bygone era. I conduct training for employees to teach them numbers – how to calculate without using calculator, how to do mental arithmetic. The course includes from simple arithmetic to probability. The Government authorities are concerned in Singapore for their citizens to remain employable. MNC make extensive use for local staff. This is popular with Retail and Fast food chain, as well. I am not against Training by experts and use of technology. My only point is not to forget the fundamentals. Do not throw away the baby with the soap water! 

Singapore has the second lowest birth rate in the developed world. (The lowest is held by our perennial city rival, Hong Kong.) And in a rare note of agreement with the nation’s youth, former Prime Minister Lee Kuan Yew has warned that our demographic decline – perhaps more so than the potential rise of new regional trading powerhouses – will cause Singapore to “fold up”.

Using Social Media to Get a Job – Does it Work?

Cloud computing has been a recent buzz word among businesses and has been identified as the future technology. Should you start adopting cloud services now?

The institutional investment world is waking up to the reality of the Global Financial Crisis (or GFC) which drags on interminably. We look to our newspapers on a daily basis to see if some quick fix or short term panacea for Europe’s travails has been miraculously discovered, or whether the US economy has rediscovered its mojo. The reality is that the problems in the Western World of huge fiscal deficits and ballooning public debt will persist for the rest of the financial careers of most readers. But, while Europe and North America languish, all is not lost. Institutions are now waking up to the fact that with 50% of global GDP now coming from the developing world, there is a real imperative to shift more of their investment portfolios towards these markets. Goldman Sachs estimates that this could represent as much as 4 trillion US dollars over the next two decades. Hello Singapore! With a private banking business said to oversee over 300 billion dollars of wealth, situated slap bang in the middle of one of the most populous and fast growing regions in the world, one would have thought that the choice of funds investing into ASEAN story would be too many to list here. Instead, there are scarcely a handful of managers that run equity funds dedicated to the wider region, and those that do, whether within the big banks, or small boutique fund managers, remain small and largely unheard of, in an industry dominated by Global Emerging Markets managers. China is only 5 hours away from Singapore, and its stock markets have not been a very fertile place to invest in recent years. However, the Philippines, Thailand and Indonesia, scarcely a short hop from the Lion City, have been the darlings of the global investor. Time to raise the flag here in the region’s principal capital market, and build a financial centre for ASEAN fund management. Step forward champions of ASEAN.

Having up to six months of potential bonuses accrued is not stopping candidates from searching for a new job that can deliver more than financial gain, such as career development and progression. That’s one finding from the recently released Hays Quarterly Report, for the July to September 2012 quarter, which points to an active candidate market in Singapore.

The Mentos “National Night” campaign was no doubt creative, and viral, but did it drive any real outcomes? How will we “ahem” measure this? 9 Months later? Brand visibility is up but is anything else? Did you feel compelled to buy a roll of Mentos? (because you were happy to see me). Love the creativity, but the mechanism to translate this into sustained engagement was the anti-climax. If the campaign had added the mechanics so that social media could extend into lasting engagement and loyalty it could and would have been a truly legendary campaign. So what’s holding marketers, brand owners and businesses from doing this? The ability to take creative content and build in long-term engagement has never been more opportune, and measurable. For example, the vast majority of our consumer audience now carries a mobile phone which is more powerful than the PC was on our desk ten years ago, and which can be used in a variety of ways to engage, reward, and build sustainable relationships. Look at what Pacific Beverages and the Stella Artois brand they manage is doing with their “How Does Yours Measure Up?” campaign (and yes, pun intended). As they execute this creative and fun campaign, in search of the best draught beer and bar in Singapore, it also engages the consumer with a mobile platform to reward them for their purchases, and in turn gain their feedback. This builds on the creative concept but also incents consumers to purchase Stella Artois in comparison to other brands as well as drive other key business and ROI outcomes. It’s a two-way engagement that has lasting, and real impact. And honestly - isn't that better than a one-night stand? 

No matter which business industry you are in, one of your main concerns is having a competitor that undercharge your rates - worse when the same competitor churns out much inferior quality work which goes unnoticed.

Current biggest business challenges include intense competition and low margins (due to an open economy and liberal trading environment), inflationary costs (due to rental expenses and tightening labour market caused by reduced foreign workers) as well as increasing uncertain external demand for Singapore exports from Europe and USA.

Let me ask you 3 questions. Please be truthful with your answers because I won’t be there to hear them.

If you, and virtually everyone you know, is on Facebook, Twitter, LinkedIn, Pinterest or other social media sites I bet at some point or other you may have toyed with the idea of getting rid of your ‘old-fashioned’, non-social media website right and focusing all your time and energy on one or more of these sites. You might try and convince yourself by saying ‘I spend 90% of my time on Facebook these days and almost none updating my own website. So closing it down makes sense, right? Wrong! “Although it may seem counter-intuitive, if you’re in business the more time you spend using social media sites to connect and engage with clients and others the more important it is to have an up-to-date, easy to navigate dot-sg or dot-com type website of your own to support your social media activities” says reputation expert and author Hannah Samuel.

This is a question that most leaders ponder over, and in the search for the perfect answer to what that ultimate leadership approach and style might look like, many probably realise that this is not as easy as they had imagined.