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Full-Text Articles in Business
Leveraging Reward-Based Crowdfunding During Covid-19, Hannah H. Chang, Erin Jasmine Guillermo, Colin Chai
Leveraging Reward-Based Crowdfunding During Covid-19, Hannah H. Chang, Erin Jasmine Guillermo, Colin Chai
Research Collection Lee Kong Chian School Of Business
Over the last year, Singapore firms have faced unforeseen market disruptions created by the Covid-19 pandemic. Worldwide country lockdowns, supply chain disruptions, and restrictions on business operations due to public health and safety measures posed non-trivial challenges. Many companies scampered to find alternative sources of revenue and ramp up their efforts at digitalisation - or risk the possibility of business closure.
Tips For Sme Transformation Amid Covid-19 Pandemic, Siow-Heng Ong
Tips For Sme Transformation Amid Covid-19 Pandemic, Siow-Heng Ong
Research Collection Lee Kong Chian School Of Business
The author shared that following the economic downturn in 2020, revival in 2021 can only be very gradual. SMEs in different sectors of the economy face different challenges and have different options for response. Overall, SMEs are hopeful rather than confident. SMEs are generally hoping to manage cash flow and stretch their current funds for immediate business sustainability. Inevitably, their focus is on meeting critical business needs. Turnover and profits are not expected to return to pre-pandemic levels so any increase in hiring or other planning for the future will be slight. He suggested that for pragmatic managers of SMEs …
Emergence Of Private Markets And Exchanges As An Alternative Source Of Financing For Small- And Medium-Sized Enterprises (Sme) In Singapore, Ser Keng Ang
Research Collection Lee Kong Chian School Of Business
Small- and Medium-sized Enterprises (SMEs) are the engine for growth for any economy, whether big or small and developed or emerging. In the US, small firms with less than 500 employee represent 99% of all employers, provide over 80% of net new jobs and account for about one-half of the national workforce. Singapore is no exception. Hence, the well-being of the SME sector in Singapore bears huge importance in the growth and development of its economy.In practice, financing of private companies, particularly small companies, is a challenge. In general, their small size makes private firms more susceptible to exogenous shocks. …
Outcomes Of An Expert Survey: Are Singapore’S Manufacturing Small And Medium Enterprises Ready To Embrace Industry 4.0, Gopalakrishnan Surianarayanan, Thomas Menkhoff
Outcomes Of An Expert Survey: Are Singapore’S Manufacturing Small And Medium Enterprises Ready To Embrace Industry 4.0, Gopalakrishnan Surianarayanan, Thomas Menkhoff
Research Collection Lee Kong Chian School Of Business
Industry 4.0 encompasses adopting opportunities from end-to-end digitalisation with connected computers and increasingly autonomous automation systems equipped with intelligent machine learning algorithms that control the robotics without much input from humans. Smart manufacturing technologies (a part of the smart industry, an extension of Industry 4.0 initiatives and implementation) involve automating various processes. It aims to connect various units in real-time while enhancing profitability by reducing costs, increasing labour productivity, and improving overall efficiency. The impetus for our paper is the assumption that the adoption of smart manufacturing technologies such as advanced robotics, cyber-physical systems, or the Internet of Things (IoT) …
Inter-Generational Transitions Of Family Businesses Using Private Equity: Lessons For China And Australia From Chinese Family-Owned Enterprises In Singapore, Pi Shen Seet, Christopher Graves, Wee Liang Tan
Inter-Generational Transitions Of Family Businesses Using Private Equity: Lessons For China And Australia From Chinese Family-Owned Enterprises In Singapore, Pi Shen Seet, Christopher Graves, Wee Liang Tan
Research Collection Lee Kong Chian School Of Business
This chapter aims to address some of these research gaps by looking at family-owned SMEs (SMFEs). In particular, it examines the considerations of Chinese SMFES in Singapore when they engage with the private equity (PE) sector as part of the overall capital-raising and harvest strategy.
Social Entrepreneurship Intentions Of Nonprofit Organizations, Wee Liang Tan, So-Jin Yoo
Social Entrepreneurship Intentions Of Nonprofit Organizations, Wee Liang Tan, So-Jin Yoo
Research Collection Lee Kong Chian School Of Business
Little is known about social entrepreneurship in nonprofit organizations (NPOs), especially about the factors that influence social entrepreneurship intentions at organizational level. Would existing NPOs, as opposed to new ones formed to embark on new social initiatives, strike out into a new territory, or engage in new ventures? What are the necessary internal organizational conditions? This study explores the direct effect of the organizational attributes on a NPO's intention to start a social enterprise. With a sample of 92 charities in Singapore, we found that NPOs led by CEOs with commercial experience, and NPOs possessing high collective efficacy and organization …
Global Entrepreneurship Monitor 2012 Singapore Report, Olexander S. Chernyshenko, Marilyn A. Uy, David Gomulya, Francis L. K. Wong, Moon-Ho R. Ho, Yoke Yong Lai, Kim Yan Chan, Olwen Bedford
Global Entrepreneurship Monitor 2012 Singapore Report, Olexander S. Chernyshenko, Marilyn A. Uy, David Gomulya, Francis L. K. Wong, Moon-Ho R. Ho, Yoke Yong Lai, Kim Yan Chan, Olwen Bedford
Research Collection Lee Kong Chian School Of Business
Independent of the stage of economic development, entrepreneurship plays a significant role for the expansion, job creation and overall economic health within a country. As a leading international indicator of entrepreneurial activity around the world, the Global Entrepreneurship Monitor (GEM) provides valuable insight into the state of entrepreneurship within and across developed and developing economies. Knowing the entrepreneurial aspirations of country’s residents is particularly relevant to Singapore’s innovation-driven economy given that the country’s prosperity depends largely on the economic activities of its citizens. We describe the key definitions and terms used in the GEM as well as the stages of …
Engaging Students In Higher Education Through Mobile Learning: Lessons Learnt In A Chinese Entrepreneurship Course, Thomas Menkhoff, Magnus Lars Bengsston
Engaging Students In Higher Education Through Mobile Learning: Lessons Learnt In A Chinese Entrepreneurship Course, Thomas Menkhoff, Magnus Lars Bengsston
Research Collection Lee Kong Chian School Of Business
This evaluative-exploratory case study reports pedagogical experiences with using mobiles phones, wikis, and other mobile learning approaches such as podcasts and walking tours as educational tools in the context of an undergraduate course on Chinese Entrepreneurship and Asian Business Networks taught at a university in Singapore. Conceptualized as mobile learning, the paper argues that information and communication technologies (ICT) devices used by Gen Y students as part of their everyday life such as hand phones in combination with social media platforms such as course wikis and other proven pedagogical methods such as mini lectures, field visits, and walking tours can …
Global Entrepreneurship Monitor 2011 Singapore Report, Olexander S. Chernyshenko, David Gomulya, Wei Ming J. Phan, Yoke Yong Lai, Moon-Ho R. Ho, Marilyn A. Uy, Kim Yan Chan, Olwen Bedford
Global Entrepreneurship Monitor 2011 Singapore Report, Olexander S. Chernyshenko, David Gomulya, Wei Ming J. Phan, Yoke Yong Lai, Moon-Ho R. Ho, Marilyn A. Uy, Kim Yan Chan, Olwen Bedford
Research Collection Lee Kong Chian School Of Business
Independent of the stage of economic development, entrepreneurship plays a significant role for the expansion, job creation and overall economic health within a country. As a leading international indicator of entrepreneurial activity around the world, the Global Entrepreneurship Monitor (GEM) provides valuable insight into the state of entrepreneurship within and across developed and developing economies. Knowing the entrepreneurial aspirations of country’s residents is particularly relevant in Singapore’s innovation-driven economy given that the country’s prosperity depends largely on the economic activities of its citizens. We describe the key definitions and terms used in the GEM as well as the stages of …
Impact Of Culture On ‘Partner Selection Criteria’ In East Asian International Joint Ventures, Ravinder K. Zutshi, Wee Liang Tan
Impact Of Culture On ‘Partner Selection Criteria’ In East Asian International Joint Ventures, Ravinder K. Zutshi, Wee Liang Tan
Research Collection Lee Kong Chian School Of Business
Selecting the right partner is important for the success of alliances and joint ventures. For international joint ventures (IJVs) from diverse cultures the partner selection process can become complicated. Prior studies have investigated the alliances and joint ventures to develop a set of objective criteria for evaluating potential partners. This paper reports the study of IJVs formed by Singapore firms in Peoples Republic of China and India. The intent was to develop a methodology for identifying partner selection criteria in a cross-cultural setting. The findings reveal that the partner selection process follows a different logic in Confucian societies. Trust has …
Technological Change Management Strategies In Asian Small-Scale Businesses: Trends In Singapore, Thomas Menkhoff, Yue Wah Chay
Technological Change Management Strategies In Asian Small-Scale Businesses: Trends In Singapore, Thomas Menkhoff, Yue Wah Chay
Research Collection Lee Kong Chian School Of Business
Based on survey data on the change management behavior of Chinese small and medium sized enterprises (SMEs) in Singapore, the paper explores how small entrepreneurs are coping with the city-state's turbulent business environment, processes of technological advancement and accelerated change. Differences between so-called opportunistic entrepreneurs and small business ventures are examined. Conceptually, the paper is informed by theories of change management, strategic choice, entrepreneurship and Chinese business. Special emphasis is put on the identification of demographic characteristics of "technological change masters" in Singapore's small business sector so as to gain an understanding of both the dynamism and relative passivity of …
The Role Of The Board And Its Interaction With The Successor's Human Capital In The Asian Family Enterprise, Soo-Hoon Lee, Phillip H. Phan, Toru Yoshikawa
The Role Of The Board And Its Interaction With The Successor's Human Capital In The Asian Family Enterprise, Soo-Hoon Lee, Phillip H. Phan, Toru Yoshikawa
Research Collection Lee Kong Chian School Of Business
This study examined the human and social capital factors associated with higher post-succession firm performance in family enterprises in Singapore. We also investigated the moderating influence of the board of directors in terms of its service role as stewards of the enterprise. We found that a successor's industry experience and diversity of network ties were positively associated with firm performance and boards that focused their role as advisors to the successor enhanced post-succession firm performance.
Managing Change In Asian Business: A Comparison Between Chinese Educated And English Educated Chinese Entrepreneurs In Singapore, Thomas Menkhoff, Ulrike Badibanga, Yue Wah Chay
Managing Change In Asian Business: A Comparison Between Chinese Educated And English Educated Chinese Entrepreneurs In Singapore, Thomas Menkhoff, Ulrike Badibanga, Yue Wah Chay
Research Collection Lee Kong Chian School Of Business
Against the background of the current rapidly changing business environment, the article examines the organizational change management behaviour of the owner-managers of small and medium sized enterprises (SMEs) in Singapore. The analysis of survey data is aimed at ascertaining whether there are any differences between Chinese and English educated small (ethnic Chinese) businessmen in terms of Change Management (CM), a dichotomy that is of great historical and politico-cultural significance in Singapore. The survey data show that there are indeed differences between the subgroups (eg with regard to the initiation of a more participatory people management style) but these variations turned …
Created' Enclaves For Enterprise: An Empirical Study Of Singapore's Industrial Parks In Indonesia, Vietnam And China, Caroline Yeoh, Siang Yeung Wong
Created' Enclaves For Enterprise: An Empirical Study Of Singapore's Industrial Parks In Indonesia, Vietnam And China, Caroline Yeoh, Siang Yeung Wong
Research Collection Lee Kong Chian School Of Business
The dynamics of globalization have prompted governments to re-examine accustomed policies, and search for alternative strategies, in order to re-position their economies for the future. This paper explores the spatial context of state involvement in the new economics of competition, with the focus on Singapore's much publicized, and controversial, orchestration of its state enterprise network to encapsulate economic space for Singapore-based firms to expand into the Asian region. This strategic initiative is promulgated on the exportability of Singapore's æstate credibilityÆ, systemic and operational efficiencies, and technological competencies, to locations where these attributes are less certain. A logit model is applied …
Subethnische Dimensionen Des Veraenderungsmanagements In Asiatischen Klein- Und Mittelunternehmen: Trends In Singapur, Ulrike Badibanga, Thomas Menkhoff
Subethnische Dimensionen Des Veraenderungsmanagements In Asiatischen Klein- Und Mittelunternehmen: Trends In Singapur, Ulrike Badibanga, Thomas Menkhoff
Research Collection Lee Kong Chian School Of Business
Against the background of a rapidly changing business environment, the article examines the organisational change management behavior of the owner-managers of small and medium-sized enterprises in Singapore. The analysis of survey data is aimed at ascertain whether there are any differences between Chinese and English-educated small (Chinese) businessmen in terms of Change Management (CM), a dichotomy which is of great historical and politico-cultural significance in Singapore. The survey data show that there are indeed differences between the subgroups (e.g. with regard to the initiation of a more participatory people management style) but these variations turned out to be far less …
Notes From An ‘Intelligent Island’: Towards Strategic Knowledge Management In Singapore’S Small Business Sector, Thomas Menkhoff, Yue Wah Chay, Benjamin Loh
Notes From An ‘Intelligent Island’: Towards Strategic Knowledge Management In Singapore’S Small Business Sector, Thomas Menkhoff, Yue Wah Chay, Benjamin Loh
Research Collection Lee Kong Chian School Of Business
This essay outlines some of the benefits and challenges of implementing strategic knowledge management systems in small and medium-sized enterprises (SMEs) with reference to respective initiatives in the Republic of Singapore. The article addresses following research questions: What is knowledge management (KM) and why has it become an issue? How can SMEs benefit from strategic KM? What are the potential pitfalls of KM applications in small firms? What are the strategic imperatives of using KM in SMEs? Do small and large firms require different KM systems? What are the critical success factors which have to be considered during implementation? How …
Small And Medium Enterprises In Singapore And The New Economy, Boon Chye Lee, Wee Liang Tan
Small And Medium Enterprises In Singapore And The New Economy, Boon Chye Lee, Wee Liang Tan
Research Collection Lee Kong Chian School Of Business
From its earliest days as a British outpost, Singapore has relied heavily for its economic survival on its position as an entrepot trading centre. In the first decades after independence in 1965, economic strategy was focused on building infrastructure, attracting foreign direct investment, and export-led growth. The political commitment to openness in both trade and capital — and, more recently, labour — is one of the key features of a strategy that has delivered remarkable returns in terms of the economic well-being of the people of Singapore. Between 1961 and 1996 GDP per capita grew at an average rate of …
Coping With Growth Transitions: The Case Of Chinese Family Businesses In Singapore, Wee-Liang Tan, Siew Tong Fock
Coping With Growth Transitions: The Case Of Chinese Family Businesses In Singapore, Wee-Liang Tan, Siew Tong Fock
Research Collection Lee Kong Chian School Of Business
Families control more than half of the corporations in East Asia. The contribution of family businesses to Asia's economic growth is predicated upon successfully growing their businesses. Many family businesses in East Asia, spanning countries such as Taiwan, Hong Kong, Indonesia, Singapore, and Malaysia, are Chinese owned and managed. Some claim that these businesses will never develop into full-fledged multinational enterprises because of their cultural heritage (Redding, 1990). However, some Chinese family businesses have successfully made the transition.This paper presents an in-depth study of five Chinese family businesses in Singapore that have successfully made the transition in growth and size …
Achieving Growth Through Corporate Partnerships And Joint Ventures: Will Singapore's Strategic Leap Into The Region Work?, Ravinder K. Zutshi, Wee Liang Tan
Achieving Growth Through Corporate Partnerships And Joint Ventures: Will Singapore's Strategic Leap Into The Region Work?, Ravinder K. Zutshi, Wee Liang Tan
Research Collection Lee Kong Chian School Of Business
One of the characteristic features of the East Asian economic development strategy has been the interventionist role of the government in the economic sphere (Amsden 1989; Kwon 1994; Wade 1990; Zutshi and Gibbons 1998). Governments in East Asia have traditionally, worked closely with the private sector. As a result unique business systems embedded in networks and alliances have evolved in countries like Taiwan, Japan, Korea and Singapore (Hamilton and Biggard 1988). Singapore has attempted to extend this model of strategic cooperation beyond its borders into the region. Schein (1996) identifies a number of major development eras in the evolution of …
Trading Networks Of Chinese Entrepreneurs In Singapore, Thomas Menkhoff, Chalmers E. Labig
Trading Networks Of Chinese Entrepreneurs In Singapore, Thomas Menkhoff, Chalmers E. Labig
Research Collection Lee Kong Chian School Of Business
The entrenchment of entrepreneurs in local, regional, or global business networks based on kinship, clanship, territorial, or ethnic ties has often been cited as characteristic of Chinese business communities in Southeast Asia. Qualitative interviews with Singaporean Chinese merchant-exporters were conducted in order to examine this thesis. The findings reveal that there is a strong tendency among Chinese entrepreneurs in Singapore to rely on external commercial relationships with ‘outsiders’ and ‘friends’ rather with those related by blood or marriage. It is suggested that kinship reciprocity may under some circumstances curb the autonomy and freedom of the transacting actors, thus limiting their …
Vertrauen Und Chinesisches Wirtschaftshandeln In Singapur: Zur Kulturellen Und Sozialstrukturellen Bedingtheit Von Vertrauensbildung Und Kooperation In Chinesischen Geschäftsbeziehungen, Thomas Menkhoff
Research Collection Lee Kong Chian School Of Business
Based on in-depth interviews with Chinese merchant exporters in Singapore, the article explores why personal forms of trust (the Chinese translation is xinyong) are key elements in the complex web of business and associated social relationships.
Towards An Understanding Of Chinese Business Networks In Asia-Pacific: The Singapore Case, Thomas Menkhoff, Chalmers Labig
Towards An Understanding Of Chinese Business Networks In Asia-Pacific: The Singapore Case, Thomas Menkhoff, Chalmers Labig
Research Collection Lee Kong Chian School Of Business
The embeddedness of entrepreneurs in local, regional or global business networks based on kinship, clanship, territorial or ethnic ties and solidarities has often been cited as characteristic of the Chinese business community in Southeast Asia. Qualitative interviews with Singaporean Chinese merchant-exporters were conducted in order to examine this thesis and shed light on the various "guanxi bases" of their international trading networks. The findings suggest that there is a strong tendency among these Singaporean entrepreneurs towards external commercial transactions with "outsiders" and "friends" rather than with "kin" whether by blood, marriage, or ascription. Kinship reciprocity may curb the autonomy and …
Xinyong Or How To Trust Trust? Chinese Non-Contractual Business Relations And Social Structure :The Singapore Case, Thomas Menkhoff
Xinyong Or How To Trust Trust? Chinese Non-Contractual Business Relations And Social Structure :The Singapore Case, Thomas Menkhoff
Research Collection Lee Kong Chian School Of Business
One key for an understanding of Chinese economic behaviour in Singapore, Hong Kong or Malaysia is tmst - a term which has not been thoroughly dealt with in contemporary studies. With reference to the Chinese business community in Chinese-dominated Singapore and sociological concepts of trust, the article aims at analyzing the different levels of meaning of the trust mechanism (Chinese: xinyong) which is seen as essential lubricant in Chinese personalistic and non-contractual business relations. But trust in itself is no guarantee of cooperative behaviour. To enable interpersonal trust as precommitment and basis of local or international trading networks and commercial …