Page 28 - The Art of Leadership (preview)

the art of leadership

‘‘

To succeed as a successful entrepreneur one has to have some extraordinary

qualities, high energy levels, a mind that sees opportunities where others see

problems, and a keen sense of what product or service will be profitable.
’’

& Steel, Chartered Industries, Keppel, Sem- vate those who manage these GLCs by more the third lowest rate of entrepreneurial ac-
bawang and Jurong Shipyards, besides sever- conventional methods and reward them in tivity among the GEM 2001 countries, just 5.2
al enterprises in food processing were also accordance with the profits they make, in- per cent above Japan’s 5.1 per cent and Bel-

started similarly. We did it out of necessity cluding stock options so that if they win, the gium’s 4.6 per cent. But Singapore’s rate of 5.2
and we did not consider it unusual that gov- company succeeds, and they will get more. per cent compares poorly against US’ 11.7 per
ernment ministers acted as entrepreneurs, The dream of wealth attracts everyone. But it cent.
selecting the most promising and energetic of is those who innovate in creating new prod- Despite these obstacles, we have had some
our officers to run these new companies. ucts and services, who will be the new rich. successful Singaporean entrepreneurs. The

We succeeded. We were fighting to survive. Few are born entrepreneurs, and not many more well-known amongst them are Sim

Ministers and civil senior officers were high- will succeed. To succeed as a successful entre- Wong Hoo of Creative Technology, Wong
ly motivated with no thought of financial preneur one has to have some extraordinary Ngit Liong of Venture Manufacturing, and
reward. Every year we collected the best stu- qualities, high energy levels, a mind that sees Kwek Leng Beng of Hong Leong Group. Their
dents on scholarships from the universities opportunities where others see problems, and experiences, and that of other emerging ones
and they came back. All of us were acutely a keen sense of what product or service will should be researched to discover the attributes

aware that if we failed, the people would suf- be profitable. they share in common and whether they
fer unemployment and degradation of their The 2001 Global Entrepreneurship Monitor confirm the GEM findings of what makes an
lives. Every one of those officers who took (GEM) Executive Report made this specific entrepreneur.
charge of our enterprises went all out to make point that “the small size of Singapore’s do- I believe circumstances and culture decide

their companies succeed, which meant to mestic market and the general weakness in how entrepreneurial a people or a group or
make them profitable. With growing stability the economies of the region have made it more sub-group becomes. In Indonesia and Malay-
and economic well-being after the passage of difficult for start-ups to grow without export- sia, the Chinese are by and large excluded
three or more decades, that “do or die” mood ing. Those seeking funding, therefore, have from the bureaucracy and the armed forces.
has since passed over with a new generation. to demonstrate an ability to penetrate global The energetic and resourceful Chinese have

We recognise this, and that we need to moti- markets”. The report found that Singapore had become successful businessmen and entre-

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