The Next Wave of Leadership within “Family” Firms
USEA’s frequent engagement of “family” firms has provided us with the privilege of knowing many next-generation entrepreneurs rather intimately. They have shared their struggles and dreams openly with the Centre, which in turn allows us to have a deep understanding of the challenges they face within such “family” firms, and especially the issues that they themselves face.
With this insight, the Buddy Network was conceived. The idea behind the Buddy Network is to create opportunities for the next-generation entrepreneurs to come together, share their struggles, realise that they are not alone and learn from one another. The word “buddy” has its inspiration in “budding” entrepreneurs – that’s who they are, and the reason for their being part of this network – to find “buddies”.
The Buddy Network by USEA was soft-launched in February this year. USEA aspires to facilitate learning opportunities for the Network through workshops/seminars, and sharing and networking sessions.
A common struggle which often surfaces in our engagements with these buddies is the challenge of presenting new business ideas to the older generation, and convincing these veterans of the need for change within the organisation. Some of these buddies have taken the wise move in engaging USEA’s SME Consulting Programme to help them in their quest for market intelligence to strengthen their “case” in front of the older generation, while others are out to seek external “professional” assistance from neutral parties to uncover the blind spots within the organisational processes, and to recommend changes.
In this issue, USEA wants to share with our readers three consulting projects initiated by next generation-entrepreneurs who have the foresight to tap on the keen minds of SMU’s undergraduates, the expert help from project advisers who mentor the student-consultants, and the Centre’s subsidy for the consulting projects, to carry out investigations on certain business issues.
Enjoy the read, and be impressed!
The Learning and Discovery starts here!
Get It Right… with the Right Tools: Alltools Trading
Since the company was incorporated in 1987, Alltools Trading Pte Ltd has established a sound reputation and standing among its clientele as a preferred tooling partner for quality tools in Singapore. Currently commanding some 30% of local market share, it reports strong sales in niche markets spanning aircraft, automotive, defence, electrical, marine and oil refinery industries, as well as government agencies. Its key customers include the Ministry of Defence, Singapore Police Force, Singapore Airlines and SMRT Group…read on
No Demand for Local Training Centre for Foreigners: CKE Manufacturing Pte Ltd
Established in 1990, CKE Manufacturing Pte Ltd (CKE) provides precision engineering machining services to companies in Asia including Singapore, the Middle East and Europe. As precision engineering is a core enabler for many industries requiring complex equipment, CKE’s clientele belongs to specialised sectors such as Oil & Gas, Marine, Semiconductor, Electronics, Offshore, Biomedical and Aerospace… read on
A Myriad Ways to Plug It In: Jade Gift Shop
Founded in 1978, Jade Gift Shop is a consumer electronics store which has established itself as an authorised reseller of over 20 major electronic brands, with products ranging from earphones to MP3 players to a variety of trendy IT and lifestyle peripherals. Now a three-outlet operation, it continues to feel the pulse of the consumer market as it constantly updates its inventory to offer the latest gadgets that fit the from-home-to-work-to-play lifestyles of its 20- to 35-year-old target market… read on