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 topurely 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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