A combination of stiff global competition and tough economic conditions has posed daunting challenges for the growth of businesses in various industries. Nonetheless, there are those who seem to be defying these obstacles with their continued presence in the market with new products and services during these challenging times. This can be largely attributed to these organizations’ commitment and resolve to constantly drive their businesses through innovation.
The importance of innovation cannot be stressed enough for businesses to stay competitive in today’s creative era, and to be able to evolve and adapt to changing times. Yet there are those who find it rather difficult to overcome certain unique challenges on their own. Many businessmen excel at generating new products, ideas and even spurring innovation but often struggle to commercialise them, which is an important piece of the puzzle to gain success in the marketplace.
During our last year’s Annual Cheng & Co Conference, we had presented solutions for organisations to take innovative measures towards managing their businesses, through its subsidiary company, Pro B Centre Sdn Bhd – a One-Stop destination for the most sought after Shared Services Outsourcing (SSO) facilities. Pro B offers a new sustainable business model for 100 locations which includes our CC International Network which covers Malaysia, Singapore, Western Australia, China, and Hong Kong. This is a continuous service to develop not just their products and brands but also workforce, training and development, accounting and finance, and many more. Pro B’s objectives are mainly to help companies achieve business success, operational cost efficiency and human capital effectiveness.
The conference also features Kaplan Financial – the United Kingdom’s leading education and training establishment – providing insights into its state-of-the-art Live Online courses which can be pursued from any location with internet access. In this regard, we are working closely with ICAEW – International Chartered Accountants body from England which Cheng & Co has been awarded as Authorised Training Employer in early 2015. We believe the staffs will now be able to experience state-of-the-art learning facilities, attain the highest accountancy qualifications and professional development this industry has to offer, and also look forward to building an exciting and highly promising career together with Cheng & Co.
Of equal significance at this event was the presentation on the Enterprise Resource Planning (ERP) system. The ERP’s operational innovation and data integration has transformed the way businesses are conducted and it is widely hailed as an important business growth engine.
Looking back into our firm’s origin from this standpoint is a great way to get inspired to move to the next phase of our corporate development – Innovation. Most managers are short-term focused, risk averse, and have a command control style while innovators need to think long-term, be comfortable with ambiguity, be willing to take risk and leverage other people’s knowledge and competence. To be a great leader, we need to think both short-term and long-term, take incremental risk and breakthrough risk, disciplined and creative.
As being a sustainable business growth company, we have to move forward to start our Innovation journey to increase our business in this challenging environment.
Lastly, I would like to take this opportunity to wish you all a Happy Chinese New Year 2016 and Gong Xi Fa Cai.
May the Year of Monkey be prosperous to all.
