From the last 3 days and 23 meetings, I learned quite a bit of products information, market information, dealers and investors mentality, critical success of a market or products and even luck as a critical ingredient for a successful launching of product.
Today I am not going to talk about a product or company. Instead, I will talk a bout a country - Singapore. Singapore is very successful in many aspects despite fails to address the high cost of living which made her to be the 3rd most expensive city for expats in Asia, by overtaking Hong Kong. First two are Japan and Korea. High cost of leaving maybe the price to pay for development or demand for something rare or good.
The country or the people are very competitive and lots of strategies have be implemented to ensure they excel despite having the least natural resource in Asia and one of the least in the world. They know that they cannot compete in terms of natural resources, population and size of country. However, I believe they are the largest exporter of expertise and also the largest importer of expertise too, in Asia. I went to one of the foreign bank there and about 25 to 35% of their staff are foreigners, even those who are Chinese as they are Chinese from UK, US, Australia, Malaysia and so on.
Their consultants and course trainers brought back lots of revenue for Singapore and at the same time import lots of smartest brain from the surrounding countries, Malaysia in particular. For instance, they offer ASEAN scholarship to primary 6 graduates and then for students who finished their PMR (Form 3). Of course the most attractive one is the scholarship offered for university studies. To them it is a still as respective countries spend money on the initial phase of development program and Singapore just pay for advanced stage of work-in-progress. It is definitely a steal to pay for something good without paying for the initial development cost and quality control cost.
Their success is due to the fact that they realised, human resource is the most valuable asset compared to other forms of asset or commodity. Therefore, despite all the natural constraint as a country, one success factor is good enough to lift them to the world level. Yes, human resource is the most valuable resource or asset.
No comments:
Post a Comment