Get off the Hamster Wheel
More and more, technology is becoming an integral part of our lives as Singapore progresses towards becoming a Smart Nation. Prime Minister Lee Hsien Loong, at the 2017 National Day Rally, had described a Smart Nation as one that takes “full advantage of IT” to create opportunities, enhance productivity and make life more convenient. For businesses which are constantly bombarded by the challenges of a rapidly-changing business landscape, upheavals brought on by disruptive technologies, tightened regulatory regimes and rising costs, IT could provide the ideal solution. Clearly, the prospects are bright for companies offering IT-related products and services, and in this bulletin, we take a look at how two such SMEs can forward their business objectives.
With their limited resources, SMEs are often fully engaged in managing the day-to-day operations of the business. Their restricted bandwidth does not allow for strategic planning, although there is tacit recognition that it is critical to growth and sustainability. Without a practical plan of action, these SMEs are likely to be caught in the proverbial hamster wheel – frantically running for miles, but going nowhere.
We feature here, two SMEs which have decided to jump off the hamster wheel, and take a closer look at how to improve their respective businesses. Through the SME Consulting Programme – the flagship programme of the UOB-SMU Asian Enterprise Institute – a team of student-consultants, supervised by an industry veteran and manager from the Institute, undertook a thorough audit of each SME, and designed a set of recommendations to help them level up.
One of the hallmarks of the SME Consulting Programme is its use of scientific approaches, so we do not pull the SMEs out of their hamster wheels with vague promises and anecdotal tales; rather, the research and recommendations are based on sound data and analyses, crowning a credible and creditable report at the end of the 14- to 16-week project.
Are you tired of running on the hamster wheel, expending energy and getting little in return? We can help you break out of the virtual cycle and focus on activities that add real value to your company. You may need to run as vigorously (as on a hamster wheel), but rest assured that you will be running towards your own objectives – and actually getting somewhere.
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