From Disruptions to Decisions
Much has been said about how disruptive technology is transforming the way business is done. While big players have been quick to invest in ever-more sophisticated systems, smaller players should not be unduly worried that they are somehow missing the boat. For one, many SMEs have not achieved the level of development to require such advanced technological tools; for another, there are reasonably-priced tools and software in the market to meet SMEs’ requirements, and financial assistance schemes that SMEs can benefit from.
In addition to technology, business consultancy services such as brand audits, feasibility studies and market research are also important for SMEs as they prepare for their next phase of growth. In this respect, the UOB-SMU Asian Enterprise Institute (AEI)’s flagship Consulting Programme has successfully aided many SMEs by providing them with solid data and actionable recommendations that support their plans; in some cases, the projects have flagged areas that required a re-think, and potentially prevented costly errors.
Our student-consultants are supervised by veteran industry practitioners and AEI managers. What the students may lack in industry experience, they more than make up for in their robust research and conscientiousness. In many instances, their proposals include the use of relevant disruptive technology such as mobile technology or apps, or the social media platform. These approaches are effective, and are available at little or no cost, which is a boon to resource-scarce SMEs.
This issue shines the spotlight on two SMEs – a movie rental business that is eyeing organic growth, and an SME looking to penetrate the competitive consumer market with an innovative sanitising product. Having received the project reports only in May this year, they have implemented some of the recommendations and are already experiencing encouraging results.
If you are not sure where your business is headed, or require an external perspective based on facts, come talk to us. Together, we will clear your doubts and discover the path ahead.
Buying into a Cinematic Experience: Popview Media Pte Ltd
Popview Media is a movie rental business that operates through automated kiosks. The DVDs feature blockbuster movies as well as a small selection of TV series across multiple genres. While the majority of these are English titles, there is also a small number of Chinese and ethnic titles. ... read more
Strong but Gentle: Vetpharm Laboratories (S) Pte Ltd
Vetpharm Laboratories (S) Pte Ltd was founded in April 1987, when it took over the operations of Syntex Lab(S) Pte Ltd. Through strategic use of Syntex’s established resources, regional network and strong US support, Vetpharm quickly established itself as a credible and respected company in the field of veterinary pharmaceuticals. ... read more