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In this day of disruptive business models and constantly evolving technologies, businesses are fast finding it a challenge to compete on cost alone. SMEs, in particular, playing the role of middlemen and traders are being sidelined in place of such emerging trends. To top that off, rising costs, a manpower crunch, and global economic slowdown have left many companies grappling to stay afloat in such conditions.
SMF’s Singapore Innovation and Productivity Institute (SiPi), the Business Model Innovation (BMI) Program was developed to assist companies in relooking their business models. Through seeking innovative means to capture, create and deliver value to their customers, the session also offered insights into how retain competitiveness in the current challenging business climate.