4 Compelling Reasons to Invest in the Singaporean Market

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Singapore is well known for its trade and financial sectors. Quickly earning a reputation as the ‘Switzerland of Asia’, this thriving South East Asian nation handles almost one third of the world’s agri-commodity trade. It is strategically located with a market of 4 billion people within a relatively short seven hour flight radius. As a result, the country’s financial markets are stronger than ever and have positioned themselves as a key source of funding for these 4 billion people in the surrounding area.

Singapore is home to a highly skilled workforce, the country has excellent infrastructure and there is very little corruption in the State. Couple all of this with very low tax rates and you can see why more people are choosing to invest in Singapore.

Once you have an office in the CBD, there are countless possibilities for growth in the Singapore market. Servcorp virtual offices are an excellent way to set up in the city with a low cost of entry and excellent facilities allowing you to enjoy some of what Singapore has to offer. Here are some of the

PLM Advisory Service Meets Strategic Business Needs

wqAn integrated approach in PLM consulting is necessary to counter the multitude of challenges placed on manufacturers. With extraordinary optimization of PLM processes without any consideration of the IT-architecture for instance, such implementation efforts would have to be regarded as incomplete, eventually leading to suboptimal results. In today’s scenario of tighter budgets, investments in PLM solutions need to be justified and benefits properly quantified. PLM advisory services provide an ideal opportunity for executives to be convinced that the investment is justified. Product Lifecycle Management (PLM) Advisory Service delivers the strategic businesses information to provide a valued insight for Collective Design (CAD / CAM / CAE), Engineering Data Management, Product Data Management (PDM) and Digital Manufacturing / Manufacturing Process Management with more innovative, time-to-market PLM market evaluation and reduce cost on their PLM technology.

Good change and configuration management processes go hand in hand. PLM has evolved to address the challenge and is designed to manage the complexities inherent to engineering and product development. With the complexity of today’s products and because it is time consuming it is not viable for manufacturers to maintain manual processes

When Is the Best Time to Use an Exit Strategy

hyuDepending on who you are and what kind of business you have, an exit strategy may mean something completely different to you when compared to somebody else. It really only depends on what you want to get out of the experience, and how big your imagination may be.

The Reason to Bail Out

An exit strategy can mean many things, and can be used to accomplish different things depending on what you need to get out of the experience. You can sell the business outright and just get out of there. You can convert the company into an ESOP, or an Employee Stock Ownership Plan, which is a type of employee-ownership that provide the workers of the company interest in your company. Or you can release an IPO, or Initial Public Offering, for investors to come in and grab ahold of your company.

There are other reasons you could be interested in using an exit strategy, such as using it as a strategy to establish new markets for your products or expand your services in the interim. It could even mean you need to undergo a change

Are You Making These Five Business Mistakes

4tHaving business systems in place is crucial to the success of your business.

The question is: How can you make sure your business processes actually help rather than hurt you?

Let’s discuss five mistakes many businesses are making.

Mistake #1: Not having an overall goal.

It’s common for people to focus on the details of the business but not on specific tasks that they need to perform. If your business doesn’t have an overall goal then your details would tend to be fuzzy. This can cause a disconnect.

Every business should have a goal and a model to follow. You may have a goal for instance of hiring team members. If that’s the case it’s more important than ever for you to make sure that you have goals and systems in place.

Your employees will be looking to you for guidance and direction so you need to make sure you have your goals clearly defined before you tell others what to do.

Having an employee handbook will help new hires understand their responsibilities.

Mistake #2: Not using technology properly.

All businesses need to use technology to some degree. That being said no business

Steps to a Better Execution Management System

433The present-day business scenario is highly competitive and volatile. Most of the time business managers have numerous plans to execute and multiple strategies to implement. While plans are made rather spontaneously, the time taken to turn them into fruitful action turns out to be quite long. And this problem arises from the absence of what is known as an Execution Management System. This, though a common term in the field of trading and stock market, is as much applicable and relevant for the entire business scenario. The system ensures that your strategies are put into action and that the results are estimated.

When you implement an execution management system, there are certain things you need to do simultaneously. Taking the following steps will improve the efficacy of the Execution Management System.

• To begin with, it is necessary that you make short-term plans instead of long-term ones. Meet up on a quarterly basis; decide on the next set of actions and also the way to go about them. When you meet once in a year, the discussions get longer and the strategies more complicated. Consequently, sound

The Value of Buying a Business

44Building your own business requires an enormous responsibility. It doesn’t matter if you’re going to start small; the bottom line is, there is a business to run and growing it relies on your ability to handle it. Your initial thoughts will certainly dwell on your capital, your potential market, and the return of investment.

Given these issues, some entrepreneurs contemplate on buying existing businesses. It doesn’t require you to start from ground zero, as you are just taking off from where the previous owner left off. The market is already established and the profit stream is already expected. But then again, all these do not denote that things are going to be easy.

Buying the Goodwill

As opposed to what one may commonly think, purchasing an existing business venture entails higher costs than starting from scratch. Indeed, you may not be required to spend on equipment, buildings, inventory, and the like, and you may even be handed an existing staff, but the larger fraction of the purchase depends upon what businesses refer to as “goodwill.” This pertains to the existing clientele of that particular business.

Just imagine, if

Does It Matter If Customer Retention Is an Offensive or Defensive Strategy

fgConsidering the turbulent times we live in and all the uncertainty surrounding trade imbalances, Fed monetary policy, the high technology security fracas between Apple and the FBI, slow economic growth, corporate inversions, the outsourcing of American jobs, and so much more, we business leaders must focus on those components of our organizations that we can actually do something about! I maintain that every business should be taking steps right now to protect our customers for the long haul. This article offers one crucial step that is guaranteed to help business leaders move beyond our incessant compulsion and irrelevant labeling of strategic options.

As many of you know I do some part-time teaching at a small university in central Indiana in addition to my other business interests. In a recent class in marketing strategy the students were somewhat perplexed why the textbooks provide so few definitive answers to the question posed in the article’s title. In the ensuing discussion it occurred to me that many executives and sales representatives have asked me the same question. In this year of the American electorate I hesitate to offer

Tips For Selecting The Right Planning, And Forecasting Technologies

esMost companies struggle with planning, budgeting, and forecasting as well as reporting. Planning is a critical area in managing business finance as well as other matters and can determine the success or failure of the business. However, the planning process takes time and is a huge burden to many companies.

Businesses can address the obstacles by leveraging new technologies and employing the best practices in planning, budgeting, and forecasting. With the use of the right software, businesses are able to come up with accurate plans, timely forecasts, and few errors in the management policies.

The software that you select should be able to support accepted best practices in financial planning. This helps enhance the reliability of the information and promotes participation by all departments in the organization. In addition, it should enable the planners to align operating plans to strategic thinking. It should make it easy for the heads of departments to put together their objectives and ways to achieve the goals that the financial managers can eventually translate them into financial targets and the cost centers.

The technology should be tied to the core business drivers

5 Challenges in Business Intelligence and How to Solve Them

etEver wondered what a well-planned and deployed business intelligence project can do for your business without all the challenges? By now if you’re not aggressively mining your data you’re not only leaving money on the table, you’re falling behind your competitors. Looking for basic aberrations and trends in data for sales, marketing, operations and customers is second nature to most companies. This will help you tread water for a time but did you know you unlock exponential value to your data once you reach cross functional, role based, and collaborative analysis which enables iterative business process improvement?

The challenges to operative data visibility are pretty easy to identify in a company. Do any of these ring a bell? You have a thousand spreadsheets stored on your network and different departments may have different values for the same measure? The executives have clear objectives and have a strategy but if you ask an individual contributor there is only a vague notion of what they are, or are pursuing their own department objectives? You have data, a vision for analyzing your marketing or industry metrics but

How to Improve Your Dashboard, Flash Report or Key Performance Indicato

hyMost of you know people who are pilots and we sure all fly enough. You want the commercial pilot of the plane you are flying to have access to all the information they need, PRIORITIZED in some way so they can focus on the right things timely. We think it is fine for them to have access to lots of information, when the big picture says they need it.

So why do far too many accept less than optimal dashboards, key metrics, flash reports or board of director executive summaries?

Big data sounds great unless you are drowning in it. Most feel you have all the strategy you want, but not enough execution. I know I do. Who else is thinking there are not enough hours in the day?

Consider how Measuring and Managing with the Right Dashboard can help prioritize and focus on the right things to make your day more efficient.

The old business adage You can not manage what you can not measure points to the important concept of using quantifiable measures to help understand organizational performance. The measures you choose to focus on

Stocking Up the Right Way

yFor a production process to run smoothly, having the right quantity at hand is a must. Whether it takes place in one’s kitchen or in a factory, having control over your inventory is an assurance that production is efficient and costs are kept at a minimum.

Proper inventory control happens when there is optimal procurement, care, and disposition of the right materials which are required for the manufacturer or distributor. The output of inventory control manifests itself in the proper maintenance of stock that is in line with the market demand and sales trends. It is able to reduce carrying and holding costs as well as improve the stock turnover rates. Furthermore, a business’ reputation can be solidified by having adequate merchandise on stock all the time.

For better control of inventory, here are five steps that help make the process simpler and may contribute to the overall success of a business.

1. Plan the inventory. Efficient inventory control begins with a well-organized and structured plan. The movement of new goods should be organized and must have a well thought out schedule. For instance, stocks that have

Tips For Selecting The Right Planning, And Forecasting Technologies

bluAfter endless cycles of hype and hyperbole, it seems most business executives are still excited about the potential of the Internet of Things (IoT). In fact, a recent survey of 200 IT and business leaders conducted by TEKSystems ® and released in January 2016 determined that 22% of the organizations surveyed have already realized significant benefits from their early IoT initiatives. Additionally, a full 55% expect a high level of impact from IoT initiatives over the next 5 years. Conversely, only 2% predicted no impact at all.

Respondents also cited the key areas in which they expect to see some of the transformational benefits of their IoT efforts, including creating a better user and customer experience (64%), sparking innovation (56%), creating new and more efficient work practices and business processes, (52%) and creating revenue streams through new products and services (50%).

So, with the early returns indicating there are in fact real, measurable benefits to be won in the IoT, and the majority of executives expect these benefits to be substantial, why are some organizations still reluctant to move forward with their own IoT initiatives?

As could

Tips to Choose the Best Engineering Service Company

cgThe technological advancement has fascinated the entire world so much that every platform asks for engineering solutions to come out with the best designing, outsourcing and other engineering related services. However, to achieve this goal many companies are set up which provide special engineering services. These companies have wide networks and work with cross vertical domains to support their customers in most challenging and complex engineering initiatives.

While finding the best company is not an easy task, you need to consider several things and pick out the consulting company according to your requirements. Though, companies often work with a sole objective of delivering excellence, integrity, passion and the highest standards of work, it is your task to judge how successful they are in achieving that objective.

Here’s a list of the things you need to check out before picking the perfect company consulting in engineering services.

Services offered

There’s a no doubt that engineering services are expensive and the investors expect better returns out of that. However, the outputs depend on the choices you make. And to start choosing the best, the foremost thing that you shall check

Tips For Selecting The Right Planning, And Forecasting Technologies

3cMost companies struggle with planning, budgeting, and forecasting as well as reporting. Planning is a critical area in managing business finance as well as other matters and can determine the success or failure of the business. However, the planning process takes time and is a huge burden to many companies.

Businesses can address the obstacles by leveraging new technologies and employing the best practices in planning, budgeting, and forecasting. With the use of the right software, businesses are able to come up with accurate plans, timely forecasts, and few errors in the management policies.

The software that you select should be able to support accepted best practices in financial planning. This helps enhance the reliability of the information and promotes participation by all departments in the organization. In addition, it should enable the planners to align operating plans to strategic thinking. It should make it easy for the heads of departments to put together their objectives and ways to achieve the goals that the financial managers can eventually translate them into financial targets and the cost centers.

The technology should be tied to the core business drivers

Integrated Talent Management Strategy

inWhile Talent Management certainly has a significant “training” component to the strategy, the focus is on more than skill building, but rather creating a world centered on performance. The exact kind of performance your company will need in the future.

Talent Management involves several practices linked together and propelled by organizational infrastructure. It begins by having a firm written understanding of the core capabilities needed to perform tasks meshed with the actual business intelligence for the industry. For this article’s example we will be using the financial services industry, but we must remember that support functions like IT, Human Resource, Accounting, and Purchasing have unique business intelligence issues that need to be included any industry strategy.

While banking business intelligence is similar from one institution to another, your market, choice of products and services and unique culture make for a different plan and approach. The clarity of goal for talent management is essential before assembling the pieces.

One of the most complete models for a Talent Management Strategy I have found includes the following nine practices:

  1. Recruiting & Staffing
  2. Performance Management
  3. Rewards & Recognition
  4. Workforce Planning
  5. Talent Review
  6. Succession Management
  7. High Potential Development
  8. Leadership Development
  9. Employee

Why Benchmarking Sucks

scxBenchmarking has its roots in the Total Quality Management philosophy.

It’s a technique aimed at taking advantage of what other organizations have learned and successfully implemented and improve their own performance.

The benchmarking process is simple: determine who is best in class at something and copy them.

Benchmarking is usually aimed at a business process or operation. Go-to-market processes for products, order fulfillment and human resource practices are among the many organizational functions that get benchmarked.

Disguise it any way you want, but benchmarking is nothing more than following the leader of the herd. And if you’re second in the pack, the view never changes.

Benchmarking is a “tool of sameness”; it adds nothing to the success and survival capabilities that organizations must develop in today’s world of fickle customers, volatile economies and fierce competition.

Copying suck the life out of businesses; it is non-strategic and yet consumes a disproportionate amount of resource given the value it creates.

It lowers the bar and reduces everyone in the herd to the lowest common denominator.

It perpetuates invisibility for herd members. The copiers remain unremarkable and continue to blend in with everyone else.

Copying doesn’t

Achieve Objectives With Facilitated Strategy Meetings

swwAttracting and retaining customers and ensuring that an organization remains competitive in the marketplace are the primary responsibilities of for-profit and not-for-profit organization leaders. Organizations run on revenue, regardless of tax classification. Every three to five years, savvy leaders review their organization’s current state and the environment in which it operates, the organizations’ customers, the delivery of products and services, the competitive landscape, obstacles and threats to success and apparent opportunities and use that information to identify and prioritize goals that will set the organization on a path to a sustainable future.

It is imperative to create the conditions for a successful strategy planning or process improvement retreat/meeting.The world has changed and there is no time to waste on possibly unproductive “brainstorming sessions” that may have sufficed in the past. More than likely, the results of the planning retreat are vital to the organization and it would be unwise to allow the winds of fortune or internal politics to control outcomes.

Engaging a professional meeting facilitator to guide your strategy planning or process improvement retreat will guarantee that participants will identify goals and objectives that are

Planning Your Annual Initiatives

w2Setting priorities starts with a plan. A good plan creates focus, sets goals, creates alignment throughout your organization, and provides a means for accountability. Have you reduced organizational activity down to the minimum to achieve maximum results? Are anyone’s priorities working at cross purposes to the company’s? Are your daily activities properly aligned toward your goals? You are likely emphasizing the wrong set of priorities to your team if you don’t address these issues.

Planning Equals Prioritization

Planning requires prioritizing initiatives. This will help you to send the right message to your team and prevent time and resource loss. As with most plans, I recommend there be no more than five annual initiatives (less is preferred). Once you have your Critical Numbers, you can determine which initiatives are most important to undertake, maintaining at least one annual initiative focused on just your critical number(s).

After meeting hundreds of business owners, I find that most fail to create a good business plan. The secret is in the annual initiatives. Many leaders confuse budgeting with business planning. Others confuse action steps with priorities or initiatives. Others are not thinking

Top 4 Blind Spots of Strategy Execution

stEighty percent of success is showing up‘ – Woody Allen

Strategy is only as good at the execution behind it. The issue received its first major exposure in 1999 with Fortune Magazine’s article “Why CEOs Fail”, which identified bad execution as the culprit, 70% of the time.

Most industries are defined by economic models, explicit customers expectations, as well as competitive structures that are known to all and are hard to change over a short period of time. This makes it extremely difficult and risky to have superior insights and develop a unique strategy.

Triumph over implementation thus becomes a potential competitive differentiator, with strategy as a hypothesis and its implementation an experiment. As results appear, executive teams learn more about what does and does not work, and adapt as quickly as possible.

However, research shows that the holy grail of successful implementation remains as elusive as ever. So why does execution fail in so many cases?

1. The strategy that is not a strategy

The strategies defined are often reminiscent of amorphous vision à la “to be the most respected and successful company“; goal setting exercises along the lines

Simplest Way To Beat Your Competition Hands Down

dbbIn today’s consumer world we are all bombarded with choice. Choice of more suppliers, choice of more products, and every one of them promising to provide better service.

It doesn’t have to be January sale time to see that everyone is competing on price as well.

In consumers’ minds this can be a turnoff and cause decision paralysis.

Add to this volatile mix the new threat of disruptive and innovative new business models such as Airbnb and Uber and you had better watch out. You may not be in accommodation or taxis but if you’re not yet struggling against serious competition you can be sure you will be faced with similar challenges soon.

Repositioning is the key

The way to beat this challenge is really quite simple, but most businesses just don’t get it.

It serves us well to recall what Peter Drucker, the father of business consulting said years ago.

“The single purpose of a business is to create a customer, and the business enterprise has two-and only these two-basic functions: marketing and innovation. Marketing and innovation produce results; all the rest are costs.

“Marketing is the distinguishing, unique function of