AT A TIME of confusion and growing innovation, businesses old and new are facing up to change and challenges.
Panelists at Keep It Going: By Design organised by STORM.SG spoke on a variety of issues surrounding the changing landscape. From new behaviour to creativity fuelled by passion and anger.
For the old industries, it’s about trying to adapt and continue, maybe along a different path. For some others, it’s about remaining relevant by adopting new tools to boost the trade, or at least stay abreast of the changes.
For others, like the night club industry, technology has been demanding and cruel. The rise of big clubs as a place to be seen and to hook up with others, has given way to fewer patrons and more younger people swiping right on their mobile devices to find potential partners.
The hospitality industry has also felt the impact of the new preferences of the millennial consumers who are happier with smaller spaces and larger common areas.
The session yielded a lot of insights about that particular breed of humans — the millennials. They like to shine, they aren’t in any hurry to land a job, they are happy to be part of the gig economy and they work to their own schedule.
Watch the videos on the two panel discussions to get a better insight into how the thinking for the future needs to be tweaked if we are to remain relevant.
The panellists for the first session, Virtual Ways, explore a variety of issues around working in the virtual world.
As a lecturer, Suratman interacts with the younger set, trying to get them excited about projects, and helping them to feel appreciated, and “to shine”.
He notes a different attitude towards work than compared with previous generations. No longer is it necessary to head out of school clutching paper qualifications to land a job.
It’s a more laid-back approach with today’s millennials, with the right job being more important. In any case, they can plug into the gig economy to keep themselves occupied until then.
For Pawan, working with millennials has taught him about leaving them to their own devices. He has yet to meet the millionaire YouTuber who designed his website.
When it comes to existing businesses caught up in the changes, some fold while others mould.
Dennis Foo of CityBar Holdings is the undisputed nightclub man. He set up bars and clubs over four decades and built brand names like Europa and St James Powerstation. He talks about how the club scene has dwindled down as the rise of technology made it easier for people to find partners using dating apps.
Mark Tan inherited the family business and has been effecting change. Way Fengshui is finding new ways to reach out to a younger audinece by using tools that are relevant to them.
Lau Yee Loon spoke about being the original millennial having been in 15 industries before finding himself in the serviced apartments division at OUE.
If you would like to attend any of the upcoming Keep It Going sessions, email [email protected] with your contact details and business particulars.