To start off, let me offer a little something about Singapore that B2B organizations can quickly agree with.
First, it is a young country which has experienced exponential growth the years following the Second World War. And even though it has fashioned itself into a modern and highly efficient financial hub, it has not managed to stray from the cultural factors influencing its success in the first place.
Second, the people have been inculcated with a strong sense of discipline and harmony articulating the country’s business culture. Singaporeans tend to be punctual and almost never late for appointments, and business deals are made with utmost confidence and trust. It usually takes a long-time before a negotiation concludes in a favorable outcome to all parties.
Third, and in line with the other two points, the country puts value on organizational relationships. From mere matters on turning up the air conditioning to the complicated struggle to craft important sales strategies, harmony plays an important role in the life of businesses and in creating a highly professional atmosphere.
No doubt this is a clear picture of how discipline shapes a society, starting from the individual leading up to the group. Singapore’s economy is known to be highly efficient because of a strong sense of responsibility on the part of individual actors and of how they relate to each other in a group. This is where Singaporean companies pride themselves.
Harmony is nothing but essential to organizations, particularly B2B. Marketing a product and selling it in the most efficient way possible requires that every department has to pool ideas and resources together in order to drive results otherwise unattainable. In this case, following the Singaporean example is worth every business’ time and effort because it points to how an efficient business should be run.
For many managers of B2B organizations, striking a balance and harmonizing every function and process is an important challenge to take because it achieves the following:
A B2B organization with a strong emphasis on close collaboration is more likely to succeed in achieving the goals it sets for itself, specifically in terms of driving revenue. In the long run, allowing a closer relationship between sales and marketing enables the business to formulate lead acquisition and appointment setting strategies whose effectiveness is influenced by inputs from the two departments.
Faster adoption to new technologies
A harmonized organization is bound to adapt faster to current technologies. Since everyone has a common goal to consider, they are able to provide ways on how to implement certain strategies via new tools and software.
When departments are allowed to collaborate with each other, they lessen the onset of certain risks. Information-sharing becomes free flowing, allowing different departments to communicate their concerns to each other as clearly as possible, which leads to the elimination of misunderstandings that would cost the organization precious time and money.
Harmony clearly is important for maximizing the efficiency of a business. With a business culture as sophisticated and fast-paced as Singapore’s, it is vital for companies seeking to invest in the city-state to understand the best possible ways of forging and maintaining sound internal (and also external) relationships.
According to an article by ExpatFocus.com, “networking is an essential part of conducting business in Singapore, as is cultivating personal relationships with co-workers and potential business associates. Workshops, conferences, training events, and even luncheons are all popular networking venues in Singapore.”
In a way, setting up corporate functions and events is a great way to explore better opportunities to with your organization.
Also: “It is very important to be punctual. If you’re unsure of what to do in a certain situation, following the lead of the senior member can be helpful. Most greetings are met with a light handshake although you might find that not all women wish to shake hands with men. If they cross their hands in front of their chests then the protocol is to shake your head slightly in acknowledgement.”
Once you have learned these little (yet highly significant) gestures, you are well on your way towards a fully functioning enterprise.