Category: Business Management

Original Source: High Net Worth Individual Singapore

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HNWIs population and wealth is growing at a very fast rate when compared to the global and Asia-pacific average. The wealth of HNWIs in Singapore is growing at 35.6%, whereas wealth of HNWIs is growing at 17.1% globally and 25.8% in APAC. The population of HNWIs is growing at 35.6% in Singapore, whereas it is growing at 18.9% globally and 30% in APAC. The growing wealth and population of HNWIs in Singapore provides a huge opportunity for wealth management companies. It is imperative for wealth management companies to know the changing needs and behavior of HNWIs in order to increase their profitability and customer base.

HNWIs in Singapore are demanding frequent personal interactions with their wealth managers. They want their managers to possess better product knowledge, be open to new ideas, and personally interact with them on a regular basis. They want them to understand their needs and the risk associated with a particular investment product. One of the major reasons why HNWIs change their wealth managers is their failure to understand the needs of clients.

The growing population of HNWIs in Singapore is providing a huge opportunity for wealth management firms to increase their revenues and customer base. The main purpose of this report is to study the changing needs and behavior of HNWIs in Singapore. It also aims to study their investing patterns and the factors, which will drive HNWIs wealth and the challenges faced by wealth management firms.

Scope of the report
Market Overview
This section discusses the market size and segmentation of the wealth management industry as a whole, and segmentation of the wealth of HNWIs in Singapore based on the way they have accumulated it, and the different asset classes and geographies in which they invest it.

Market Dynamics
This section discusses the trends related to changes in the needs and demands of HNWIs in Singapore as well as the factors that are driving wealth creation in the country. It also discusses the investments made by HNWIs in different asset classes and the challenges faced by the wealth management firms.

Trends of HNWIs in Singapore
This section discusses the varying demands of HNWIs based on their age group and the criteria they follow to choose their wealth managers. This section also discusses what asset classes are favored by HNWIs in Singapore.

Business case study
The case study discusses the measures taken by Oversea-Chinese Banking Corporation (OCBC) Bank based in Singapore, to improve customer service by streamlining its operations and save time on managing client information.

Company Profiles
This section describes companies offering wealth management services in Singapore, and includes an overview, primary business, wealth management operations in Singapore, strategies followed by them and recent developments related to wealth management operations in India

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Key questions answered
How Singapore HNWI offers opportunity to the wealth management firms.
Needs, demands and behavior of HNWI in Singapore
Factors which will drive the growth of wealth in Singapore
Challenges faced by wealth management firms
Trends of HNWI in Singapore
What are the major drivers and opportunities in the market?

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Effective management of a computer service business is incredibly important, and the ability to delegate responsibility is a critical skill for any manager. Good delegation allows a computer service business to run more smoothly. Delegation is more than the simple process of giving an employee a task to complete. It involves putting trust and confidence in an employee and giving him the power to complete a job.

There are five different components of good delegation: determining assignments; providing detailed instructions; offering comprehensible instructions; conducting review meetings; and giving employees authority. Before delegating tasks, a computer service business manager needs to know all these components so he can make sure the project is completed in a timely manner and according the all specifications.

Determining Assignments

As an effective manager of a computer service business, you should know the capabilities of every employee. You should consider training specific team members to handle certain business aspects. That way you can easily match jobs that come up with certain people. If any tasks fall under a different category, they can go to you.

Giving Detailed Instructions

A computer service business will undoubtedly have varying tasks. When you come across an assignment with very specific standards, you should put the exact details of those standards in writing. When job details are more flexible, you can generalize. Consider the abilities and unique personality of every employee. Some will need things spelled out, whereas others like to work more independently.

Providing Understandable Instructions

Employees need to understand instructions in order to complete a task. You should ask specific questions that go beyond a simple Do you understand? Your reputation is on the line with every project, and you need all tasks to be done right. Get feedback from your employees and ask questions that ensure they know how to proceed.

Conducting Review Meetings

You should schedule review meetings at the beginning of each project. But as a computer service business manager, you can determine the frequency of the meetings. The most important thing to remember is that employees need to know what you expect from them and what the deadlines are for each project before work begins. Never use surprise reviews, as they can destroy morale and imply distrust.

Giving Authority

Employees will work better when they feel they have the authority on projects and are truly a member of the team. As the manager of a computer service business, you need to trust team members to make the right decisions for your company. If you make all the decisions yourself, you will be overworked, and your business will not run smoothly.

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BBA courses are fast emerging as the most promising education option after +2 these days, thanks to the growing popularity of MBA and the success it is bringing. There are a huge number of courses accessible and doors open, which is why students are more often than not bewildered by the alternatives in front of them.

In such a milieu BBA or the Bachelor of Business Administration is just the right course that can give you a major boost and an inherent edge over you counterparts. For students from foreign countries, you need to GCE “A” level or an examination which is equivalent to +2 in India. The choice of a specific educational establishment lies on a lot of considerations.

You should make sure to take a look at the experience and expertise of the teaching staff, the location of the establishment, and reasonability of tuition fees, campus life, placement opportunities, scholarships and financial aids, and a lot more. This stride of getting admitted into a BBA college in Bangalore or BBA College in Chennai will surely act as a foundation stone for your superb career, which is waiting ahead of you.

Undeniably you will acquire an experience which will prove decisive in your near future. The best place to look for precise and pertinent information is of course the internet, which will resolve all your predicaments. But the sheer number of alternatives in front of you can make you strand at crossroads as to which institute to choose. If you take a well versed and balanced decisions based on aforesaid considerations, you will surely be able to lay your hands on a top notch BBA college.

Yet another attractive yet wise option is to search the internet specifically in forums, groups and communities, wherein you can discuss the various pros and cons of a specific educational establishment specializing in BBA courses. This decision of choosing an apt BBA college is a most important one and should be mulled over considerably.

Let us sneak a quick look through BBA colleges in Bangalore, BBA colleges in Chennai and BBA colleges in Karnataka. Some of the most sought after BBA colleges in Bangalore are: – St.George College of Management, Science & Nursing, Ganga Kaveri Group Of Institutions, Mount Carmel College, R.K. Institute Of Management and Computer Science, Goutham College, Jyoti Nivas College, The Oxford Educational Institute, Bangalore City College, Garden City College, Acharya Institute of Sciences, GEMS B SCHOOL, Reva Group of Educational Institutions, Alliance Business Academy, Kristu Jayanti College of Management & Technology and a lot more.

When we come to BBA colleges in Chennai, we will come across names such as: – Indigrow Institute of Professional Studies (IIPS) and IIKM Business School. Some of the renowned BBA colleges in Karnataka, apart from Bangalore are: – Global Institute of Management & IT in Hubli, JSS College of Arts, Commerce and Science and TTL College of Business Management in Mysore, and a lot more.

In todays competitive world, number of companies is increasing and there are several vacant positions that need to be filled with the right candidate. Campus placement is one of the best methods for companies to conduct interviews in business school campuses and select bright students to fill these job vacancies. This method is not only effective for companies in getting the right candidate with less cost involved in the recruitment process but also beneficial for business schools in creating a name for their institute in the market.

There are several business schools in India that have a superb reputation in case of campus placements. For instance, Indira Global Business School is one of the leading business institutes in Pune where some of the top companies including MNCs and banks come to recruit bright students for jobs. This method has proved very beneficial for students of business schools because even before they get to finish their studies, they get an opportunity to get a job of their dreams. They dont have to seek out employers, but employers approach them. It helps them shape their careers even before they step out of college.

Today, institutes hire a placement officer whose main function is to get in touch with companies (including small, medium and large) and coordinate with them to set up the campus placement process. If you are also preparing yourself for campus recruitment process it helps to know what are the common qualities that companies look for in a candidate. For instance, they look for students who are good at communication, have a good track record, self confident and a positive attitude towards their career. A business school such as Indira Global Business School gets its students placed in some of the top companies in India.

There are many companies that not only choose a student but also make an investment in training him/her. This ensures loyalty from the employees side because students tend to identify better and more closely with the first company that recruited them. In many cases, students also get ready to work at low salaries offered by large companies because it gives them a positive start in their career. There is no doubt that the method of campus recruitment has opened up doors of opportunities for students. Therefore, if someone is planning to pursue business management course, it is very important to select a good business management school. They must check the institutes reputation in terms of campus placements to get a basic idea.

One of the biggest things in the business industry that brings down a small business is lack of inventory control. This may seem surprising as there are many things that can bring down a business, and inventory management isnt usually the first thing that is thought of. While keeping track of inventory may seem less significant than other parts of running a business, it is key to making your business run properly and to managing the money you have invested in the business. Several problems with supply management include ordering mishaps, employee theft, and not keeping records. These can all sabotage your business with quickness.

One of the biggest ways to lose money in business is by commonly occurring ordering mishaps. For example, if you order too little of a product and run out quickly, when someone comes in to purchase the item, it can lead to frustration that can give the wrong impression. Remaining well-stocked is a very important thing to do. At the same time that you do not want to run out of anything frustrating your customer, you do not want to overstock either. Dealing with overstock once can be very pricey. Thinking that you are going to sell much more than you realistically do can make things tough on the budget of a small business, especially one that has just started. Dealing with overstock often can financially break a business.

Another thing that can make a huge dent in the pocket book of any business is employee theft. Doing the best possible to hire employees that are honest and trustworthy is a good way to cut down on this. However, no matter what you do to cut down on employee theft, it may be difficult to eliminate it completely. Ways to prevent this from happening include security systems, which for an inexpensive price these days can be purchased and easily installed. Also, preventing employee theft can be made easier by making each employee accountable to initialing and signing out things that must be removed from the stock room. This way, they will be less careless and will have less of an opportunity to remove merchandise without it being detected.

Another way to cut down on employee theft is to purchase or develop and use an efficient inventory management system. This is also a thing that brings businesses down in finances. Losing track of things, not recording incoming or outgoing supplies, and not ordering in a timely manner can all make a difference in both money and the smoothness of your operation. Getting software for your business computers and training your employees to utilize it properly can save you time, hassle, and most importantly, money. There are many software programs that can help you manage your money and stock very well.

All of these problems with inventory management are very common in the demise of businesses, but they do not have to be. If you can stop these problems as soon as or before they start, you can help your business become successful and thrive. There are so many ways a small business owner is fighting up hill just to stay in the black. Something as simple to solve as inventory control should not be one of the things you as a business owner have to fight.