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Business Advice

Lessons from the 'international school of business' - America

Business ideas abound all around the world and it’s only apt we learn from the world’s number one economy
ST701 Editorial Team - August 3, 2010
By: Sheila Lim
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Lessons from the 'international school of business' - America

Travel is enriching for all of us not only in terms of the personal experiences we stand to gain, but also because of the opportunities to gather a wealth of business ideas.

Many highly successful business concepts like food courts and fast foods, products like bubble tea, and services like spa and reflexology treatments that are now so immensely popular in Singapore, are gleaned from practically all corners of the world.   

Besides creative business ideas, entrepreneurs can also “take home” valuable lessons by observing and learning from the positive cultural traits of our foreign counterparts, particularly those from countries like the USA, Japan, Germany and Australia.

America – the land where creativity flows free      
It is probably because they hold a belief system that expounds freedom of expression and liberal thinking that the Americans are so creative and enterprising. Despite the fact that their economy is still mired in deficit, debt and other problems, the American leaders are optimistic that with the innovative spirit of their people, they will soon put things right.

Success stories: The Americans have many reasons to be confident about their strengths. After all, they were the first people to land on the moon; wow the world with their hi-tech movie productions, highly addictive reality TV shows and countless acting and singing talents; build the “happiest place on earth” (Disneyland) which the world gravitates towards; turn a barren desert into a world-famous tourist attraction (Las Vegas); and produce superstars like Michael Jackson and Elvis Presley whom the world mourned for even after their death.

Lessons to learn:
The Americans have shown us how phenomenally successful we can be if we “dare to dream”; and that there’s no shame in failure. So it’s no coincidence that the head honchos of the most influential computer technology companies in the world, such as Microsoft, Apple and Yahoo share a similar thread in their success stories – they started their businesses by “tinkering in the garage” and following their dreams.

Their power of imagination extends to the fields of brand-building and marketing too, as can be seen in the slick marketing and advertising campaigns that have helped international brands like Coca-cola and Nike, and entertainment concepts like The Amazing Race and American Idol, establish a firm foothold in the global marketplace.

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