Singapore, 20 February 2018 (Tuesday) – Singapore Business Federation (SBF) and Singapore Management University (SMU) are pleased to announce a new collaboration to support SMEs on their business transformation and growth journey. Jointly headed by SBF and SMU, the SBF-SMU LEAD-CHARGE initiative [企业转型策略培训计划] aims to support SMEs on their business transformation and growth journey.
The key challenge to taking the first step in business transformation is mindset change at all levels of the organisation, including, in particular, top company executives, and reframing how businesses should operate in the new economy. The SBF-SMU LEAD-CHARGE Initiative will assist SMEs in their business transformation through a four-phase journey, namely, Awareness, Diagnosis, Intervention and Recognition.
SBF CEO, Mr Ho Meng Kit, said that this new initiative underscores the convergence of energy and resources of key stakeholders in the business transformation eco-system. SBF is pleased to partner SMU to help our businesses transform. Combining SMU’s rich palate of knowledge resources and SBF’s reach to the industry, our collaboration will engage enterprises that are hungry for change to seize new growth opportunities. .
SMU Provost, Professor Lily Kong, said, "The future economy requires Singapore businesses to have strong core competences as well as innovative capabilities to tackle the disruptions brought about by new digital technologies and new competition. Through SMU Academy, our University is delighted to partner with the trade associations and SMEs in Singapore to explore new approaches and platforms to engage employees and managers, and help them find new opportunities to enable their businesses to grow and thrive in this challenging landscape."
SBF and SMU will be organising a series of CEO breakfast talks and seminars, targeting business owners and focusing on global best practices and latest thinking relating to business transformation, technology, innovation, growth and internationalization. Industry practitioners and leaders will also be invited to share their strategies and challenges with participants at these sessions.
Following the talks and seminars, SMEs which are interested to take action to transform their businesses can participate in the SBF-SMU LEAD-CHARGE Initiative.
For participating SMEs, an on-site company diagnosis will be conducted to assess the company’s DNA in maximising its potential vis-à-vis its competitors. SME change agents within each of these companies will also undergo a two-day onboarding flagship Lead-Charger programme which will include topics such as change and people management, innovation through design thinking, business process improvement and emerging technologies.
A range of capability-building courses, consultancy and mentorships (such as digitalisation management and internationalisation) will be available to equip companies with the know-how to address their business transformation gaps uncovered during the diagnosis.
Upon completion of the SBF-SMU LEAD-CHARGE Initiative, their participation and success will be recognised formally at an awards ceremony.
