This extract is reproduced with permission:
There is no magic formula for a successful acquisition. Like many companies, SAM faced challenges with new acquisitions; [these challenges include…] human resource constraints and differing cultures and mindsets.
To mitigate these, the company looked to empower its overseas management and worked with local government agencies to develop and train skilled workers.
While growth strategies were driven from its headquarters here, its overseas management was given leeway to develop and execute its own tactical plans in line with the company’s strategy and performance targets.
The company also made efforts to forge a common identity among its companies through its branding and core values. All business operations have the same vision and mission statements.
Mr Goh [chief executive of SAM] advises Singapore firms looking to go international to pay careful attention to detail and to continuously look for new growth opportunities.
Read more from Enterprise Singapore’s Success Stories.
Credit: Enterprise Singapore and Singapore Press Holdings (first published on The Straits Times)