Jul 3, 2006
News Stop: 3 July 2006
Today, we gather different news from the blogosphere and the mainstream media on the recent 5th Singapore Promising Branding Awards, more youth entrepreneurship in play and also company culture.
While the editorial board is busy gearing up for some new developments for the blog, here are some news from the blogosphere and mainstream media which might be of interest to the media.
- Coen Ching wrote a small piece about business position and the lessons he drawn from the recent 5th Promising Brand Awards, organized by the Association of Small and Medium Enterprises (ASME) and Lian He Zao Bao. In his article he equate branding with business positioning. Of course, branding is a tool to grow the market share by the company. Branding is a form of marketing that gives the company access to a user base and new clients. Growth strategies are slightly different in that respect. Well, nevertheless, it is citizen journalism at work to report on the event. It will have been great if there are pictures of the occasion taken and more about the winners in the evening.
- Ken from SimpleBusiness.org, who often drop insightful commentaries to our blog second to Claris (discounting our contributors), talks about the corporate culture of startup companies. He feels that consistency builds the company culture, which I believe is interesting. It seem to coincide with the corporate culture in most good companies in Singapore, for example Singapore Airlines (where consistency is part of their corporate culture). He also views that leadership is an important component of the whole startup setup. I think that a lot of time, Asians must understand that speed is an important quality for a startup. If you are working for the startup, forget about the wait and just get on with some initiative. If you can deliver something with a sense of commitment, quality and responsibility, I feel that you are suitable for a startup.
- Straits Times, our mainstream media talks about “more youths becoming their own bosses” today. What is redundant from that news clip is the mentioning of that the examination grades of the entrepreneurs are not affected. The main question that we should pose is what kind of challenges and motivation spur these young entrepreneurs to start their own companies. After all, ST can use the statistic in the Global Entrepreneurship Monitor report published by the NUS Entrepreneurship Centre that has shown that more youth are starting up their own companies, particularly from the tertiary institutions.
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5 Comments, Comment or Ping
ken
Or should I say consistency IS culture?
What I was trying to say is that something that is done consistently eventually becomes a culture.
So for startup, if quality is a targeted culture. Stress quality, do it everytime.
If learning is a culture, encourage it.
Sounds common sensical but not common practice.
Entrepreneurs, especially when they starts hiring, need to consistently remind themselves. Because if they don’t walk the talk. Who will?
Jul 3rd, 2006
Coen Ching
Building a brand is very much linked to how you position your business. In my article, I discussed about whether to grow from small to big or to think big and execute big right from the start. And this all links back to my oft asked reply question to people who’s consulted me on this before, “What problem do you want to solve?”
Jul 4th, 2006
BL
Coen,
I think that you misunderstood the difference between growth strategies and branding. In the clearest sense, branding is a form of marketing and growth strategy decides where you are positioned in the market. If you want to argue that they are intrinsically linked, you have to give me statistics to show how most companies demonstrate this link. For example, Creative soundcards are not branded until they are properly positioned in the markets, similar to intel chips and even the first Apple II computer.
Jul 4th, 2006
Justin Lee
becoming own bosses sounds funny…
it just sounds rather self serving and bossy..
i mean i feel that in entrepreneurship, even if you are the boss, your role is to faciliate your employees to get the best out of them. not to boss them around.
also, i think we need more entrepeneurs who want to create companies to “change the world”.. that is the remarkable thing about SV.
each and everyone wants to change the world in some way with their efforts.
lastly, i really think singapore needs a big culture change..
Jul 4th, 2006
Anonymous
Coen Ching, I just went to your blog and read your article. Yes, I can see your business acumen of what you are trying to say.
And I believe I can see your point of business strategy.
However, I think it’s good to first do the Marketing survey before you continue whether to franchise within the country. Sometimes, it’s important to do a test in the market. And also you have to find the right agent to be the franchisee?
But what you said do contribute towards a point of branding and you tend think further and wider from a long term perspective. ;)
Jul 4th, 2006
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