iadvisory - Free expert advice on overseas expansion
Released on: January 8, 2008, 1:44 am
Press Release Author: iadvisory
Industry: Government
Press Release Summary: The iadvisory Portal (www.iadvisory.com.sg) is a virtual platform which allows Singapore-companies to identify and access the know-how of international experts from around the world.
Press Release Body: Know-How to Succeed Abroad: Easy Access to International Experts To Boost Market Access
The iadvisory Portal (www.iadvisory.com.sg) is a virtual platform which allows Singapore-companies to identify and access the know-how of international experts from around the world. Companies are no longer constrained by difference in geographies and time zones to access the relevant expertise that they need to support their global aspirations.
An initiative by IE Singapore, www.iadvisory.com.sg was officially launched by Minister Lim Hng Kiang, Minister for Trade for Trade and Industry on the 10th of July at the International Enterprise Forum 2007.
Tapping On External Resources to Stay Internationally Competitive
In today’s global economy, to stay competitive, a company is compelled to look beyond its national shores to identify and exploit attractive international business opportunities. To do so, a company needs to understand not only the diverse economic/business issues in the foreign markets, but also assess what those conditions would mean in terms of product adaptation/development, resource management, customer/partner management: an endless array of other considerations.
This is a challenge faced not only by smaller companies but also bigger and more established companies. In fact even MNCs are recognising that they are not able to purely rely on their own internal resources to keep up with the speed and complexity of changes in the international marketplace.
To keep up and stay ahead of the competition, forward looking companies such as Procter & Gamble (P&G) are tapping on international resources (made possible with new internet trends and technologies) outside of its organisation to help fuel innovation and create viable products. P&G is a regular user/endorser of various internet mass collaboration initiatives such as InnoCentive, which allows companies to seek solutions from international resources. Through accessing such resources, P&G has been able to accelerate the development of its products. In fact the last 3 years, less than 3% of the company’s new products were ideas/innovation that had originated internally.
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