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Recovering from the disruptive aftermath of recent global financial and health crises, enterprises around the world struggle to adapt to the ever-changing business climate, and to face the challenges and dilemmas posed in the decision-making process.
The 4th NUS Mandarin Management Forum for Entrepreneurs shed light on the importance of taking the lead, and learning from leading companies, how to transform organizations in a changing environment. The distinguished speakers were Associate Professor H Brian Hwarng, Associate Dean of Office of Executive Education, NUS Business School; and Mr Liak Teng Lit, CEO of Alexandra Hospital. They spoke to a 90-strong audience.
Present Situation
- Economies have been severely affected by recent crises, including Taiwan Earthquake, Bird Flu Epidemic and Global Recession.
- Resulting hyper-competitive environment has forced many businesses to hastily re-think and streamline their strategies without proper direction.
- Businesses are rushing to reduce unnecessary expenditures, especially those incurred by maintaining customer relations. Customers are then neglected.
Learning Points
- Establish company's unique core value and culture to sell a certain talent or specialization.
- Equipped the company with double vision the ability to see the future and present, to prepare for long-term and short-term goals.
- Take note of the S-curve in business: Prepare for long-term changes, at least five years down the road, before saturation of business.
- Think out of the box: Corporate learning can happen even outside of similar businesses. For example, Alexandra Hospital learnt from Ritz Carlton, Singapore Airlines and Citibank about customer service and call centre services.
- Put customers, not KPIs, as first priority, especially if the company is in the service sector. It is importance to conduct regular group feedback with customers to assuage their grievances and needs.
Look out for the 5th installment in the Biannual NUS Mandarin Management Forum for Entrepreneurs set for early 2010.
Participants Speak
Li Yeung (ECE 2009):
The forum was interesting. I would like to have new topics being discussed in the next forum. Creativity and IT usage in various businesses, perhaps?
Jiang Shun, Marketing Executive, Far East Organisation:
It was my first time attending such a forum. As someone interested in opening her own business in the future, I hope to learn more about starting and managing businesses, and others experience. More case studies would be great.
Dr Seow Yong Tong (APEX-C 2008), General Manager,
Health for Life:
The forum was very refreshing and realistic. I agree with the speakers; the world is changing very rapidly, and changes need to be implemented just as quickly. For a different perspective at the next round, it would be interesting to hear about young entrepreneurs.
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Date:
18 September 2009, Friday
Time:
1:30pm - 5:00pm
Venue:
Swissotel Merchant Court
Organizers:
NUS Business School
Mandarin Alumni
Office of Executive Education
Asia-Pacific Executive
(Chinese) MBA office
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