Teaching an old dog new tricks: guanxi in today's world
Singapore's SMEs often need to keep an eye on modern systems and yet understand and be able to work around customs like guanxi.
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SINGAPORE'S SMEs are at the crossroads between modernity and ancient customs.
The mention of "SME" sometimes conjures up an image of a company founded in the 1960s, with practices more suited to that era. But the realities of the face and practices of these modern SMEs are nothing like those of old.
Today, SMEs are helmed by 20-50 year olds. Most have tertiary education. They are widely travelled and they are not shy about sharing their views on countless social media platforms.
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