Volume 11 Issue 2 | July 2024
VANTAGE POINT
Nurturing Entrepreneurship and Growing Entrepreneurs
How Southeast Asia’s universities can pave the way.
By Sun Sun Lim, Abdullah Khurshid, Dexter Tan Ye Kai, and Gabrielle Tan Lay Khim
References
1. Su-Hyun Lee, “ASEAN Free Trade Agreements”, RSIS Commentary, May 23, 2023.
2. Google, Temasek, Bain & Company, “e-Conomy SEA 2023”, Google e-Conomy SEA.
3. Chiraphol N. Chiyachantana and Pattarawan Mai Prasarnphanich, “Digital Entrepreneurship in ASEAN”, Asian Management Insights, May 2022, 9(1), 56-61.
4. World Intellectual Property Organization, “Global Innovation Index”, 2023.
5. Google, Temasek, Bain & Company, “e-Conomy SEA 2023”, Google e-Conomy SEA.
6. Protégé Ventures, “Singapore Student Startup Ecosystem Report AY2022/2023”, 2023.
7. Reddi Kotha, Balagopal Vissa, Yimin Lin, et al, “Do Ambitious Entrepreneurs Benefit more from Training?”, Strategic Management Journal, June 22, 2022.
8. Ilya Strebulaev and Alex Dang, “The Venture Mindset: How to Make Smarter Bets and Achieve Extraordinary Growth”, Penguin Publishing Group, May 21, 2024.
INDUSTRY WATCH
Igniting Creativity in an Organisational Rainforest
Tata Group’s quest for Open Innovation.
By Reddi Rayalu Kotha, Lipika Bhattacharya, and Ravi Arora
References
1. Marcel Bogers, Henry Chesbrough, and Carlos Moedas, “Open Innovation: Research, Practices, and Policies”, 2018, California Management Review, 60(2), 5-16.
2. Henry William Chesbrough, “Open Innovation: The New Imperative for Creating and Profiting from Technology”, Harvard Business School Press, April 2003.
3. Boeing, Innovation Quarterly, 2023.
4. Siemens, Insights Hub.
5. Tata Group, Stock data.
INDUSTRY WATCH
Supplier-Complementor Alliances
Enhancing value creation for the ecosystem.
By Chen Liang
References
1. Jihye Lee, “Apple Supplier Luxshare Rises After Reportedly Winning Contract to Produce Luxury iPhones”, CNBC, January 5, 2023.
2. Valens Research, “This Chinese Company is Cashing in on the Success of Apple’s AirPods, with Uniform Metrics Assembling a TRUE Return of 26% and not 8%”, May 20, 2020.
3. NVIDIA, “Adobe and NVIDIA Announce Partnership to Deliver New AI Services for Creativity and Digital Experiences”, March 28, 2018.
4. Michael Steele, “NVIDIA, Adobe to Bring Interactive, Photo-Real Ray Tracing to Millions of Graphic Designers”, NVIDIA, October 15, 2018.
5. NVIDIA, “Adobe and NVIDIA Partner to Unlock the Power of Generative AI”, March 21, 2023.
6. Tae Kim, “NVIDIA is Bringing Industrial Model Technology to Apple’s Vision Pro”, Barron’s, March 20, 2024.
7. AMD, “Starfield”, https://www.amd.com/en/gaming.
8. Digital Foundry, “Starfield PC–Digital Foundry Tech Review–Best Settings, Xbox Series X, Comparisons + More”, YouTube, September 9, 2023.
9. World Health Organization, “WHO Director-General’s Opening Remarks at the Media Briefing–5 May 2023”, May 5, 2023.
10. Alan Friedman, “Foxconn Chaos to Leave Apple Short 6 Million iPhone 14 Pro and Pro Max Units this Year”, Phone Arena, November 28, 2022.
11. Reuters, “Foxconn to Build $2 Bln Plant in China’s Chengdu”, October 22, 2010.
12. Sankalp Phartiyal and Sudarshan Varadhan, “Exclusive: Foxconn to Begin Assembling Top-End Apple iPhones in India in 2019 - Source,” Reuters, December 27, 2018.
13. Tony W. Tong, Yanting Guo, and Liang Chen, “How Xiaomi Redefined what it Means to Be a Platform”, Harvard Business Review, September 9, 2021.
14. The Economist, “Why do Nvidia’s Chips Dominate the AI Market?”, February 27, 2024.
15. Daniel Newman, “Nvidia doesn’t have a Monopoly in AI–though it Sure Seems that Way”, Morningstar, April 13, 2024.
CASE IN POINT
Transforming DMK footwear for the next-gen market.
By Patricia Lui, Jovina Ang and Lipika Bhattacharya
Endnotes
1. Dashveenjit Kaur, “QR Codes are Taking Over Again–Here’s Why”, Techwire Asia, December 21, 2020.
2. Gen Y are those who were born from 1965 to 1980; Baby boomers are those who were born from 1946 to 1964.
3. In the US, both millennials and Gen Z contributed to US$350 billion in spending power. No equivalent information is available for Singapore. GlobalPayments, “How Millennials and Gen Z are Shaping the Future of Payments”, January 31, 2022.
4. Rebekah Heath and Gail L. Yarick, “Using Sustainability Initiatives to Engage Young Professionals”, The CPA Journal, October 2021.
5. Rebecca Brooks, “3 Things You Need to Know about Gen Z and Brand Loyalty”, Forbes, August 10, 2022.
6. Ibid.
7. Social Blade, “@DMKShoes”.
EXECUTIVE BRIEF
Balancing remote work and face-to-face collaboration in Asia.
By Andrew Heng
References
1. Jane Zhang, “Alibaba Pumps Up Employee Perks to ‘Warm Hearts’ after a Tough Year of Regulatory Crackdown”, South China Morning Post, December 15, 2021.
2. Roy Y. J. Chua, Michael W. Morris, and Paul Ingram, “Guanxi vs Networking: Distinctive Configurations of Affect- and Cognition-Based Trust in the Networks of Chinese vs American Managers”, Journal of International Business Studies, 40(3), 490-509, 2009.
3. Anthony Mulac, James J. Bradac, and Pamela Gibbons, “Empirical Support for the Gender-as-Culture Hypothesis: An Intercultural Analysis of Male/Female Language Differences”, Human Communication Research, 27(1), 121-152, 2001.
4. Hari Bapuji and Mary Crossan, “From Questions to Answers: Reviewing Organizational Learning Research”, Management Learning, 35(4), 397-417, 2004.
5. Huawei, “Developing Digital Talent and Enhancing Digital Literacy for a More Sustainable World”.
EXECUTIVE BRIEF
Setting Up the Right Guardrails
Using a stakeholder orientation view to steer infrastructural public-private partnership projects.
By Vijaya Sunder M, Ram Nidumolu, Milind Sohoni, and Siddhartha Modukuri
References
1. UNCTAD, “Closing Investment Gap in Global Goals Key to Building Better Future”, September 23, 2022.
2. Manal Fouad, Chishiro Matsumoto, Chishiro, Rui Monteiro, et al., “Mastering the Risky Business of Public-Private Partnerships in Infrastructure”, International Monetary Fund, May 10, 2021.
3. The World Bank, “Private Participation in Infrastructure (PPI) 2022 Annual Report”, 2022.
4. Tatenda Caroline Dumba, “Legal Framework Regarding Public Private Partnerships (PPPs) in Botswana”, DLA Piper, May 10, 2023.
5. Jayson H. Cainglet, “Public Private Partnerships in the Philippines: When Failed Bidding Means Victory”, Society for International Development, 59(1), 133-136, 2016.
6. CBC, “Montreal’s Blue Line Extension Facing Major Cost Overruns, Putting Project’s Future in Doubt”, May 12, 2021.
7. Cledan Mandri-Perrott and Iain Menzies, “Private Sector Participation in Light Rail/Light Metro Transit Initiatives”, World Bank Group eLibrary, February 1, 2013.
8. Namrata Kolachalam, “A New Metro Brings Controversy to Mumbai’s ‘Green Lung’”, Bloomberg, September 21, 2022.
9. BV Mahalakshmi, “Hyderabad Metro, the Largest PPP Metro Project, has Become a Big Success”, Financial Express, October 15, 2018.
10. Railway Technology, “Hyderabad Metro, India”, October 1, 2020.
11. Eric Knight, Joel Cutcher-Gershenfeld, and Barbara Mittleman, “The Art of Managing Complex Collaborations”, MIT Sloan Management Review, 57(1), 16-19, August 5, 2015.
A WALK THROUGH ASIA
The Growth of Southeast Asia’s MSMEs
Funding winter presents opportunities to reboot for the future.
By Shoeb Kagda
References
1. Kendrick Wong, “A Bright Future: Shaping the Culture of Entrepreneurship in Southeast Asia”, Nasdaq, September 14, 2021.
2. Ming Tan, “Realizing the Potential of Over 71 Million MSMEs in Southeast Asia”, ADB, March 14, 2022.
3. ADB SEADS, “How Indonesia is Creating a New Generation of Entrepreneurs”, December 20, 2021.
4. Ibid.
5. Royal Thai Embassy, Washington, D.C., “Thailand Aiming for 10,000 New Start-ups by 2007”, November 1, 2023.
6. The Philippines National Government Portal, “DICT Startup Grant Fund–Frequently Asked Questions”, April 4, 2023.
7. Norman Goh and Hakimie Amrie, “Malaysia Rolls Out ‘Golden Pass’ to Lure Unicorns and VC Firms”, Nikkei Asia, April 22, 2024.
8. GPCA, “2022 Southeast Asia Startup Directory: An Analysis of Startups that Raised USD5m+ in 2021”, February 2022.
9. Tech Collective, “VC Trends: A Closer Look at the Funding Winter Impacting Startups in Southeast Asia”, September 14, 2023.
PARTING SHOT
Staging Singapore’s Cultural Economy
Growing and cultivating soft power is the name of the game.
By Koh Buck Song
Endnotes
1. Monica Mercuri, “Taylor Swift Didn’t Need Lucrative Side Hustles to Become a Billionaire”, Forbes, April 2, 2024.
2. Benicia Tan, “Taylor Swift’s Six Shows Estimated to Boost Singapore’s Economy by Up to S$500 Million”, The Business Times, February 23, 2024.
3. The Nation (Thailand), “Srettha Applauds Singapore for its ‘Wisdom’ in Making Exclusive Deal with Swift”, March 9, 2024.
4. Anjali Raguraman, “Edwin Tong Led Multi-Agency Team to US to Help Bring Taylor Swift to S’pore for 6 Concerts”, The Straits Times, March 2, 2024.
5. The Merlion, a mythical creature that is part-lion and part-fish, is an icon of Singapore.
6. Thomas Stamford Raffles (Sir; 1781-1826) is referred to as the founder of modern Singapore.
7. Singapore Tourism Board website, figures from May 2023.
8. Joseph S Nye, Jr, “Soft Power: The Means to Success in World Politics”, Public Affairs (USA), 2004.
9. Mary Hui, “Taylor Swift and Singapore Put On a Masterclass in Concert Economics”, Quartz Media, March 6, 2024.
10. Sherlyn Sim, “Taylor Swift, her Mum’s Family and a Glimpse of a Bygone Era in Singapore”, The Straits Times, March 13, 2024.
11. Taylor Swift, “marjorie”, YouTube, uploaded December 2020.
12. The Straits Times, “The Bartered Bride, with Marjorie in the Lead”, November 21, 1968.
13. In Singapore, the term ‘Peranakan’ primarily refers to individuals with mixed Chinese and Malay/Indonesian heritage. It also covers Straits-born Chinese or Chinese who were born in the Straits Settlements (comprising Singapore, Penang, and Malacca) when the country was part of the British colony with Malaysia (then-Malaya) and their descendants. Jaime Koh, “Peranakan (Straits Chinese) community”, Singapore Infopedia, August 26, 2013.