Singapore
Singapore
As the name of Canon’s Think Big Leadership Business series suggests, it is imperative for businesses to think big and revamp their current business models. It’s natural for businesses to fear the unknown amidst these rapidly changing business landscapes. But this doesn’t have to be so, as explained by our esteemed speakers in the two-day event.
Held at the Marina Mandarin Singapore on the 17th and 18th of May 2018, the business leadership series aimed to push businesses towards embracing these uncertainties and recognise that innovation, however intimidating, could very well be the key to their advancement.
The event kicked off with a delightful breakfast reception, which provided an avenue for participants to mingle and find out more about Canon’s business solutions. This year, Canon also had five of their business videos on display on the latest compact but powerful Canon RAYO S1 Mini Projector, where participants could stand to win Canon printers simply by voting for their favourite reel showcase.
These videos featured Canon’s “Business Can Be Simple” philosophy, which can help businesses in five key aspects: Security, Vibrant prints, Efficiency, Dependability, and Cost-management.
Day 1 saw masterful insights offered by ex-Member of Parliament Mr. Inderjit Singh, NBS’ Professor Boh Wai Fong, NUS’ Professor Tan Ghee Kiap and Amdon Consulting’s Mr. Eric Lam. These experts of their field touched on how businesses, particularly SMEs, can cope in our current economy. The talks touched on rising above regulations, being flexible as well as being more collaborative rather than competitive.
Mr. Inderjit Singh, for one, highlighted that the key to SMEs’ success is independence and smart resource allocation. For example, companies should be searching for their own resources rather than relying on government handouts, and look at co-sharing services to ease the cost of operations.
Professor Boh Wai Fong shared similar sentiments, imploring companies to adopt “entrepreneurial thinking” by being realistic with their goals. Firms should assess their existing resources and move their company forward from there.
Addressing the upcoming GST hike, Professor Tan Khee Giap urged companies not to be too worried about it as it is preferable to an increase in corporate income tax. He also beseeched young companies to chase growth rather than implementing austere cost cuts.
With regards to our highly competitive business landscape, small firms should look at partnering with larger corporations rather than competing with them in the same industry, says Mr. Eric Lam. Engaging in such a collaborative culture will help SMEs be more resilient in our current economy.
The day concluded with an engaging panel discussion on fake news. The speakers pushed businesses to verify their sources and build up a list of trusted collaborators in a bid to combat the rise of fake news.
Day 2, on the other hand, focused more on the changing of mindsets and the importance of innovation in today’s day and age. Led by Dr. Michael Teng, CEO of Singapore Innovation and Productivity Centre, Ferrero Asia’s Mr. Au Yang Sian, YP Digital’s Mr. Nick Goh, as well as MHC Asia’s Dr. Low Lee Yong, the talks seamlessly engaged participants, urging them to actively visualise which steps they should take moving forward.
In the face of challenges, Dr. Michael Teng spurred firms to let go of preconceived notions and try to adopt fresh perspectives while innovating – much like the biblical story of David and Goliath. His highly engaging speech included a skit about David overcoming the giant Goliath, which drove his message of open-mindedness home.
Mr. Au Yang Sian too highlighted the need for innovation, calling on firms to embrace technology to finish the job that needs to be done rather than fear it. He stated that tapping on the resource of technology can help ease the innovation process, and help companies stay ahead of the game by etching a competitive advantage in their field.
To Mr. Nick Goh, the digital platform is a great way to establish emotional affinity between a company and its consumers – something that firms should consider seriously. These ties will eventually translate into transactions, as customers usually buy based on an emotional decision, he claims.
Wrapping up Day 2, Dr. Low Lee Yong once again drummed home the importance of innovation, particularly in the “long marathon” of businesses. He asserted how firms shouldn’t let pride get in the way of doing what’s best for the company, and urged firms to embrace good ideas and not get hung up on bad ones.
Participants were also privileged to have a session with Miss Yip Pin Xiu, 3-time Paralympian and Singapore’s first Paralympic gold medallist, who inspired everyone present to acknowledge that success is nothing but a product of hard work and perseverance. Her inspiring personal story of triumph over adversity detailed her passion for swimming and optimism in life despite the obstacles she faced, which drew a standing ovation from the crowd.
As the event drew to a close, participants departed with plenty of key takeaways, fresh perspectives and the courage to take the first step to self-improvement. We look forward to the next edition of the Think Big Leadership Business Series!
