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Creativity Meets Cash: An Unlikely Pair?, Knowledge@Smu
Creativity Meets Cash: An Unlikely Pair?, Knowledge@Smu
Knowledge@SMU
There has long been a perception that creativity and money are somewhat opposed to one another. Profitable artists are sometimes seen as sell-outs while risk-averse corporations are seldom regarded as centres of creativity. Yet, for survival, businesses need to be creative and the creative-types need to eat. In the book, Brainfruit: Turning creativity into cash from East to West, authors Hugh Mason and SMU associate professor Mark Chong provide a slew of practical ideas for anyone aspiring to build or understand the business of creativity.
Knowledge As A Driver Of Growth And Development In Asia, Knowledge@Smu
Knowledge As A Driver Of Growth And Development In Asia, Knowledge@Smu
Knowledge@SMU
Many Asian economies are in the process of transitioning from an industrial-led growth model to a more knowledge-based one. While some have seen greater success than others, several challenges have arisen in recent years, in particular, with rapid advancements in information-communications technology. These changes are discussed in 'Beyond the Knowledge Trap: Developing Asia's Knowledge-based Economies', a book that presents a range of studies to show how Asian countries are adapting and addressing some of the new issues brought about by changes within a more complex and globalised environment.
Business Strategies For Emerging Markets: Agility, Size And Taste, Knowledge@Smu
Business Strategies For Emerging Markets: Agility, Size And Taste, Knowledge@Smu
Knowledge@SMU
Success in a new emerging market depends on many factors, such as market size, its purchasing power, and competition. Marketing strategies are critical for success too. While many companies have traditionally opted to localise their brands, a group of speakers at SMU's Centre for Emerging Markets believe that businesses need to be far more agile in differentiating themselves for local customers – especially as markets become increasingly global and homogenous.
Avoiding Road Bumps: Four Reliable Wheels For Biomedical Start-Ups, Knowledge@Smu
Avoiding Road Bumps: Four Reliable Wheels For Biomedical Start-Ups, Knowledge@Smu
Knowledge@SMU
Starting up a business in the biomedical industry is much like driving a car. According to Ting Choon Meng, a doctor and chief executive officer of HealthStats Singapore, there are four main 'wheels' that the entreprenuers must learn to operate. And just as in a real car, all four wheels must run in unison, or the business will not advance according to plan.
Risky Ventures With Possibly No Returns: The Allure Of The "Wonderful But Weird World Of Biotechnology", Knowledge@Smu
Risky Ventures With Possibly No Returns: The Allure Of The "Wonderful But Weird World Of Biotechnology", Knowledge@Smu
Knowledge@SMU
Entrepreneurs in the biotech industry require large risk thresholds. For one, the business of research is an expensive one, the results of which may not necessarily translate to commercial viability. Investors with the foresight and patience for such long-term, high-risk ventures are also hard to come by. At a talk organised by SMU's Lee Kong Chian School of Business, Dr. Steven Fang, founder of CordLife, shared insights on what 'biotechopreneurship' entails.
An Entrepreneur’S Voyage, With The Five Rs As His Guide, Knowledge@Smu
An Entrepreneur’S Voyage, With The Five Rs As His Guide, Knowledge@Smu
Knowledge@SMU
Behind the glamour of the booming marine industry, are the various supporting players like ship chandlers and maintenance service providers that help keep the vessels well-oiled and their crews well fed. In a recent talk organised by SMU’s Institute of Innovation and Entrepreneurship, Danny Lien, founder of Amos International, shares how he run this business based on relationship, reputation, resilience, realism and recreation.
The Business Of Art, The Art Of Business, Knowledge@Smu
The Business Of Art, The Art Of Business, Knowledge@Smu
Knowledge@SMU
Fuelled by her life-long passion for the arts, Krisstel Martin chucked aside her degree in finance and banking to open an art gallery. At a recent talk organised by SMU’s Institute of Innovation and Entrepreneurship, Martin, owner of a gallery named after herself, shares the intricacies of dealing with prospective buyers, the joys of dealing with artists, and the passion and satisfaction of immersing herself in a business that she loves.
The Indian Dream: How Former Subjects Of The Licence Raj Overcome Odds On The Path To Successful Entrepreneurship, Knowledge@Smu
The Indian Dream: How Former Subjects Of The Licence Raj Overcome Odds On The Path To Successful Entrepreneurship, Knowledge@Smu
Knowledge@SMU
Not many Asian parents will pull their child from school to help out in the family business. AVS Raju, owner of Indian construction company, Nagarjuna, did just that. Speaking at a recent Wee Kim Wee Centre talk at SMU, author Peter Church shared Raju's story, along with that of several other successful Indian entrepreneurs who are making their fortunes in areas such as textile, hotels, and airlines – amid a backdrop of poverty, hardship and red tape.
From Information Technology To Ice-Cream: One Man's Entrepreneurial Quest For Happiness, Knowledge@Smu
From Information Technology To Ice-Cream: One Man's Entrepreneurial Quest For Happiness, Knowledge@Smu
Knowledge@SMU
Medal-winning fencer Wong Toon King is not some swash-buckling corporate hot shot, slashing and hacking at business rivals. Rather, the former government scholar turned serial entrepreneur believes that the important ingredients to building businesses include not just good ideas, but also a knack of identifying trends and a good sense of timing. Most importantly, entrepreneurs need to be happy at what they are doing – even if it means scooping and serving Ben & Jerry's ice-cream every day, said the founder of The Happy People Co., local franchisee of the popular brand of ice-cream.
Keys To Better Capitalism And Human Welfare: Entrepreneurship, Knowledge@Smu
Keys To Better Capitalism And Human Welfare: Entrepreneurship, Knowledge@Smu
Knowledge@SMU
The word “entrepreneurship”, despite its universal prevalence today, was a relatively new term that entered common lexicon only a few decades ago. Yet, there is no denying the role that entrepreneurs play in creating wealth, not merely for themselves, but also opportunities and welfare for large swathes of the populace, benefitting the overall economy. At a recent talk, Carl J. Schramm, president and CEO of the Kaufmann Foundation, reinforces the case for entrepreneurship and debunks some common views on who “entrepreneurs” are.
Developing An Advanced High-Tech Entrepreneurial Habitat, Knowledge@Smu
Developing An Advanced High-Tech Entrepreneurial Habitat, Knowledge@Smu
Knowledge@SMU
Technology, in and of itself, cannot transform ideas to profits. According to William Miller, a professor, entrepreneur and venture capitalist, having the technology that the market wants is only part of the game. To be successful, technology requires other necessary conditions to be in place – an ecosystem of talent, money, trade, education, art, even lawyers – to grow and flourish. The challenge, however, is in getting the hardware-software combination right.
From Imitators To Inventors: China’S Changing Innovation Landscape, Knowledge@Smu
From Imitators To Inventors: China’S Changing Innovation Landscape, Knowledge@Smu
Knowledge@SMU
Long derided as an economic entity happier to copy than to invent, the number of patents filed and assigned in China has been growing at 13% annually in the two decades to 2006, with a total of 1.1 million patents awarded. Private enterprises, after a slow start, are now leading the charge in securing an ever bigger number of patents, especially after 2001. Individuals, meanwhile, are the second most prolific group. What causes this surge in patent applications? What are some of the issues involved? SMU management professor Kenneth Huang details findings from a recent study.
Right Up Our Valley: Why Singapore Ought To Quit Copying Silicon Valley, Knowledge@Smu
Right Up Our Valley: Why Singapore Ought To Quit Copying Silicon Valley, Knowledge@Smu
Knowledge@SMU
For a small piece of land with no natural resources to offer, Singapore's economy relies a lot on its strategic geographical location, human talents, as well as a penchant for wanting to be the global, and if not, regional 'hub' for commerce, arts and sciences. Where technology is concerned, the one to beat is Silicon Valley. A tall order, perhaps, but the draw is unmistakably alluring. On its own, the Valley boasts a GDP of US$100 billion, generating more wealth per person than anywhere else in the USA. Not content with just salivating over that piece of the pie, Singapore …
Bringing Ideas To Life: Tapping On Design's Strategic Value, Knowledge@Smu
Bringing Ideas To Life: Tapping On Design's Strategic Value, Knowledge@Smu
Knowledge@SMU
Before Apple can wow its legions of devotees and win over new ones with its latest offerings, it needs a group of industrial designers to work their magic first. Highly integral to a product’s success yet often falling below the radar screen as a profession, industrial design involves a unique combination of factors – from studying market trends and human behaviour to conjuring new product categories. But what does it take for organisations to cultivate industrial design as a key competency?
Entrepreneurs Share Their Formula For Success: Failure, Knowledge@Smu
Entrepreneurs Share Their Formula For Success: Failure, Knowledge@Smu
Knowledge@SMU
Entrepreneurship is so often associated with risk-taking that in safety-seeking Singapore, it would be quite natural to assume a rather weak spirit of enterprise. Such an assumption, of course, would only be partly true. After all, successful entrepreneurs need to possess more than just an appetite for risk; they need to be skilled at harvesting talent, tapping on their networks and navigating around business environments. Can such successes be taught? Panellists at a recent forum seem to think so – but only to a limited extent. They draw distinctions between formulaic prescriptions and advice, saying that while there are no …
Successful Technopreneurship 2.0: Beyond Buzzwords And Technology, Knowledge@Smu
Successful Technopreneurship 2.0: Beyond Buzzwords And Technology, Knowledge@Smu
Knowledge@SMU
If entrepreneurship requires true grit, then technopreneurship – a new-age term that describes entrepreneurship in technology sectors – is quite likely the ultimate test, given the highly dynamic nature of technological innovation and its dependency on a host of external factors. Would the iPhone have succeeded without the App store? Could the Blu-Ray have taken off without the backing of major Hollywood studios? Will people buy GPS systems without maps? Such are considerations that technopreneurs have little influence over, but must always bear in mind because technology, in and of itself, bears little meaning for end-consumers.
Think Setting Up A Business Is Easy? Think Again!, Knowledge@Smu
Think Setting Up A Business Is Easy? Think Again!, Knowledge@Smu
Knowledge@SMU
Entrepreneurship stories are like fairytales. The rags-to-riches stories of college dropouts turned successful multimillionaires provide many an overworked and underappreciated employee with idealism and inspiration: to ditch a life of conventions and to pursue one's passions. But don't be naïve, says Wong Hoong An, chief evangelist officer of the popular local food website, HungryGoWhere.com. There are too many questions to consider, such as 'Can you live with a pittance of a salary for years?' and 'Do you relish change, instability and volatility?'
From Post-Its To Face-Bras: How 3m Puts Innovation Into Practice, Knowledge@Smu
From Post-Its To Face-Bras: How 3m Puts Innovation Into Practice, Knowledge@Smu
Knowledge@SMU
Most people are familiar with the genesis of the Post-it, 3M's signature yellow sticky pad: an accidental outcome that followed the discovery of a non-permanent adhesive. While innovations as such might be viewed as a fluke – an invention that occurred by chance – it is helpful to note that certain environments and conditions can render an organisation more 'accident'-prone. Geoff Nicholson, the "father" of 3M's line of Post-it Note products and an advocate of "risky business" behaviours, shared his insights and observations at SMU recently.
What Do Egyptian Tomb Raiders And Martial-Arts-Loving Entrepreneurs Have In Common?, Knowledge@Smu
What Do Egyptian Tomb Raiders And Martial-Arts-Loving Entrepreneurs Have In Common?, Knowledge@Smu
Knowledge@SMU
Some ancient Egyptians make stuffed animals to accompany their dead in their after-life, others raid the tombs for these animals to sell for a profit. For Chatri Trisiripisal, a 38-year-old self made millionaire, besides making his money running hedge funds and property investments, he also does so holding martial arts classes. According to Trisiripisal, chasing such entrepreneurial dreams requires one to be “crazy” sometimes. What are the other attributes that a bidding entrepreneur should have?
The Idea Of Creativity, The Creativity Behind An Idea, Knowledge@Smu
The Idea Of Creativity, The Creativity Behind An Idea, Knowledge@Smu
Knowledge@SMU
Many people believe that creativity is important to their line of work – from salespeople to accountants, lawyers to administrators – but few people seem to believe that they have what it takes to be creative. Even fewer people think that their employers are helping them to be creative. What lies behind the mystical creativity holy grail that makes it so elusive yet incredibly seductive? Creativity expert Fredrik Härén provides some insights into how we think about creativity and what makes companies like Google, Apple and Pixar tick.
Entering The Lion’S Den: Technology Entrepreneurs Need A Global View And Action Plan, Knowledge@Smu
Entering The Lion’S Den: Technology Entrepreneurs Need A Global View And Action Plan, Knowledge@Smu
Knowledge@SMU
How many technology companies are confident enough to venture outside the sheltered environment of their home country to compete against the market leaders in their own turf? Not many, especially for the new or young business ventures. Many avoid entering "the lion’s den", so to speak, for fear that they will be eaten alive. Yet, not many realise that if they cannot survive the “lion’s den”, they may not last very long within their own nest, shares seasoned venture capitalist Gideon Tolkowsky.
Soaps, Creams And Strips: Procter & Gamble’S Approach To Innovation, Knowledge@Smu
Soaps, Creams And Strips: Procter & Gamble’S Approach To Innovation, Knowledge@Smu
Knowledge@SMU
Innovate to give the customers what they desire -- it may sound like a simple and straightforward mantra for success in business, but many companies find themselves struggling to be gainfully innovative! Throw in ‘fickle-minded consumers’ and ‘a myriad of competitor offerings’ into the mix and the challenge magnifies glaringly. Yet, Procter and Gamble (P&G), a 172-year-old company, has somehow managed to get it right – and with more than 300 brands across 80 countries. Dr Shekhar Mitra, P&G’s Senior Vice-President of Research and Development, offers Singapore Management University an insider look into the innovation principles that guide one of …
Think Outside Your Box: Enhancing Creativity Through Multicultural Interactions, Knowledge@Smu
Think Outside Your Box: Enhancing Creativity Through Multicultural Interactions, Knowledge@Smu
Knowledge@SMU
Creative ideas are often the result of two or more seemingly non-overlapping concepts. The more we expose ourselves to diverse experiences, the more likely we might be to sample from a richer pool of ideas, thereby facilitating our creativity, and by extension for some, organisational innovation. This is because experience lowers our resistance and increases our readiness to sample foreign concepts. Angela Leung, an assistant professor of psychology at Singapore Management University, notes that while ideas from differing cultural experiences can be recruited as intellectual resources, several factors inhibit our ability to draw on these experiences, thus impeding our creative …
Microfinance In Asia: Not So Risky, Not So Micro, Knowledge@Smu
Microfinance In Asia: Not So Risky, Not So Micro, Knowledge@Smu
Knowledge@SMU
Microfinance is proving to be a successful way to help the rural poor and disadvantaged improve their economic conditions by running their own businesses. However, the current economic crisis has reduced funding available for this pool. But with a proven strong credit history and improvements in technology, microfinancing is now seen as more than just as a nice social obligation. In the words of Nhan Phan Cu, a speaker at a recent seminar on this issue, microfinance in Asia is less risky than investment banking. However, the economic outlook poses some challenges.
Me-Business Model: Building Value From Consumer Created Content, Knowledge@Smu
Me-Business Model: Building Value From Consumer Created Content, Knowledge@Smu
Knowledge@SMU
As more businesses move from Web 1.0 to Web 2.0 and Web 3.0, they can benefit immensely from the insights gained through consumer generated intelligence. The newest customer-centric technologies shaping the Internet, and how they create opportunities for new business models, formed the theme of a talk by Andreas Weigend, former Chief Scientist at Amazon.com, at the Singapore Management University recently.
Globality Is What Happens After Globalisation, Knowledge@Smu
Globality Is What Happens After Globalisation, Knowledge@Smu
Knowledge@SMU
Globality is what happens after globalisation, say authors Hal Sirkin, Jim Hemerling and Arindam Bhattacharya of Boston Consulting Group in their book, Globality -- Competing with Everyone from Everywhere for Everything, published last year. Incumbents, companies from developed economies, must face the challengers from emerging economies who are quickly shifting the balance.
Entrepreneurs Are Serial Risktakers Not Gamblers, Says Phillip Phan, Knowledge@Smu
Entrepreneurs Are Serial Risktakers Not Gamblers, Says Phillip Phan, Knowledge@Smu
Knowledge@SMU
Entrepreneurs are not gamblers, believes Phillip Phan, management professor at Johns Hopkins University. He is also Tommie Goh visiting professor of entrepreneurship and business at the Lee Kong Chian School of Business, Singapore Management University (SMU). Phan delivered a lecture in Singapore recently about the essence of entrepreneurship, how to identify entrepreneurial opportunities, and the role of governments in supporting entrepreneurs.
Lighting Up Rural Indonesia Through Community-Owned Hydropower Projects, Knowledge@Smu
Lighting Up Rural Indonesia Through Community-Owned Hydropower Projects, Knowledge@Smu
Knowledge@SMU
More than 105 million people, just under half the total population of Indonesia, are without electricity even today. 2006 Ashoka Foundation Fellow Tri Mumpuni, executive director of Indonesian NGO IBEKA (People Centred Economic and Business Institute), spoke at a forum -- organised by the Lien Centre for Social Innovation of the Singapore Management University -- about how IBEKA is helping to develop sustainable community enterprises in the energy sector.
Is Family Business In Good Hands? How To Inspire The Next Generation Of Entrepreneurs, Knowledge@Smu
Is Family Business In Good Hands? How To Inspire The Next Generation Of Entrepreneurs, Knowledge@Smu
Knowledge@SMU
Why do some family businesses fail? Sanjay Goel, strategic management and entrepreneurship professor at the University of Minnesota Duluth, addressed some of the factors that support or inhibit the success of family businesses at a seminar on “Sustaining the Entrepreneurial Drive” organised recently by the UOB–SMU Alliance Centre of the Singapore Management University.
How To Stand Out In The Crowd? Innovate, Innovate, Innovate., Knowledge@Smu
How To Stand Out In The Crowd? Innovate, Innovate, Innovate., Knowledge@Smu
Knowledge@SMU
In the world of marketing and branding, sticking out like a sore thumb is not necessarily a bad thing, advises brand innovation specialist Chandran Dharmarajan, co-founder of I-morph, a marketing innovation consultancy based in Singapore. Dharmarajan, who worked for over a decade with Unilever in India and Thailand followed by a stint with Kraft Foods Asia Pacific, spoke at a recent seminar, “Transform Your Business By Being Remarkable”, organised by the UOB-SMU Entrepreneurship Alliance Centre of the Singapore Management University.