Highlights from the Think Big Leadership Business Series 2018: Outlook 2019 - Business Insight - Canon Singapore

Highlights from the Think Big Leadership Business Series 2018: Outlook 2019

What does 2019 hold for your business? The brand new year is almost upon us and it is critical for you to start planning ahead. How can your business leverage on the learnings of 2018 and embrace the challenges that will come in the next year?

In line with this train of thought, Canon’s Think Big Leadership Business Series 2018 presented an engaging two-day session on the topic, held at Marina Bay Sands on 15th and 16th November 2018. Various leaders of their field shared their thoughts on the ever-changing business landscape and how the current geopolitical situations would impact our local economy.

Visitors were also treated to a showcase of Canon’s new innovative breakthroughs, featuring state-of-the-art technology such as the imageRUNNER ADVANCE multi-functional devices, the latest range of XEED laser and lamp projectors, full mirrorless EOS R cameras and more. Canon personnel were also on-site, giving live demonstrations to intrigued visitors who had the opportunity to experience these products first-hand.

Day 1 was graced by Professor Danny Quah (NUS), Mr. Lam Yi Young (Ministry of Trade and Industry), Dr. Robert Yap (YCH Group) and Dr. Andrew Seit (Teck Sang Pte Ltd). These specialists explored the dynamic issue of geopolitics, examining the impact of the trade war between the U.S. and China on Singapore’s business landscape. Attendees were also given tips on how to structure their operations in order to seize the opportunities and embrace the uncertainties that lie ahead.

Professor Danny Quah started off by urging businesses to align both geopolitics and geoeconomics, especially in light of the international nature of Singapore’s trade industry. Mr. Lam Yi Young built on this by explaining how unity in collaboration can help prepare our economy for the future. He declared that transformation is essential should businesses wish to remain relevant in the year ahead, with both manpower and productivity growth being of top priority.

Dr. Robert Yap joined in by encouraging businesses to adopt an “innovate-to-survive” mindset, revealing that true failure only occurs when businesses stop transforming themselves. Dr. Andrew Seit further emphasised how businesses should make the concerted effort not to lose their core values in the process of transformation, claiming that such harmony is what gives any business a “soul” and a “personal touch”.

The day concluded with an intriguing panel discussion, which highlighted the importance of shared knowledge, resources and international business partnerships – where every business, no matter how big or small, has a part to play. Diversity, in this case, becomes a strength and not a threat.

Day 2’s speakers – featuring Dr. Joseph Liow and Professor Ng Yew Kwang from NTU, Mr. Garick Kea from The Nielsen Co. as well as Love, Bonito co-founder Ms. Rachel Lim – shared keen insight on how companies have to go beyond their usual proceedings to create more customer value and, in turn, achieve customer success.

Dr. Joseph Liow first delved into the background of the ongoing trade war, examining international trade situations in both the U.S. and China – and how the global economy will need to brace themselves and make the necessary precautions now to mitigate any negative backlash. Professor Ng Yew Kwang elaborated on the benefits of trade, and how the trade war has affected both the U.S. and China economies. Nevertheless, he remains optimistic on the outlook for Singapore and ascertained that our strong local economy will not be largely impacted due to our bolstered internal strength.

Mr. Garick Kea next analysed consumer behaviours across various Asian markets, expanding further on key consumer trends that are projected to be on the rise in 2019, noting that developing economies have more receptive markets than developed ones. Ms. Rachel Lim then discussed how businesses should continually look to evolve with consumer behaviour, and the pertinence of having a connection with the customer. In other words, authentic interaction, as well as product freshness, is key to keeping the consumer attracted and engaged.

How can businesses turn the risks amidst rapid globalisation into their advantage and ride the wave of technology to success? In the second panel discussion, Mr. Garick Kea asserted that with this integration of technology into current work processes, businesses have to be comfortable when faced with volatile trends and uncertain prospects. The panel concluded that it’s imperative to complement these technological developments with soft skills and the human touch – only in doing so are companies able to successfully meet future consumer demand.

Equipped with insightful business perspectives, participants departed with a treasure trove of industry knowledge and tips on how to adapt to the tidal waves of uncertainty in the year ahead. Here’s to the next edition of the Think Big Leadership Business Series – follow Canon Singapore on LinkedIn for more business insights!