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UOB-SMU Asian Enterprise Institute

Dr Patrick Tan

  • Senior Lecturer of Strategic Management
  • CEO, Stratefix Consulting
Expertise
Business Strategies, Overseas Market Expansion, Innovation, Change Management

About Patrick
Dr Patrick Tan is an Adjunct Faculty with SMU and CEO of Stratefix Consulting, a boutique consulting firm that specializes in helping large corporates and SMEs develop and execute strategic solutions.

His passion is in Design Thinking, Business Model Innovation, Strategy, Leadership and Change Management. Patrick has more than 30 years of senior management experience in banking and insurance across the Asia-Pacific region. He has worked for major global organizations, such as, ANZ Bank, AXA Insurance, Cigna International, etc. He has lived and worked in Korea, China, Indonesia and Thailand, and has travelled extensively across Asia-Pacific region.

 

What can you ask me
Business model innovation, local and overseas business expansion, business organization and restructuring, change management and etc.

Answered Questions

Common Questions asked by SMEs

Q: What would you recommend as the best approach to adopt for going overseas?

There is no one size fits all approach to going overseas. Much depends on the risk appetite, of the firm. SMEs considering going overseas can consider exporting, licensing, franchising, joint ventures, acquisition or green-field operations. Each of these options carry benefits and risks.

Venturing overseas carry a fair amount of risks and rewards. SMEs planning to go overseas are advised to have a partner or guide that understands the market and can help the SME navigate through the treacherous grounds.

Answered by Dr Patrick Tan on 13 Jun 2019 17:05

Common Questions asked by SMEs

Q: What is the most important factor for firms looking at expanding overseas?

There are many important factors to consider when looking at overseas expansion. First and foremost, SMEs need to understand what is their primary motivation to internationalize.

Different companies may be motivated by different reasons. Some of the possible motivations for internationalization are:

  • to follow and support their clients’ overseas expansion;
  • to compensate for home market saturation or decline;
  • possibility or necessity of increasing sales;
  • to access resources and / reduce its costs of labour;
  • to diversify its operations and associated risks; •
  • to take advantage of growth opportunities in other markets;
  • to exploit economies of scale and reach;
  • to gain knowledge about other clients and markets, the capacity and strength of competitors at a global level; etc.

Once the SMEs is clear on its motivation, having the right business model can minimize some of the risks of internationalization

Answered by Dr Patrick Tan on 13 Jun 2019 17:05

Unanswered Questions

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