The modern time innovations have been dominated by the US and Europe where giant companies allocate large sums of investments for research and development to create new technology. Plus, these companies spend huge marketing budgets to promote this new technology and raise awareness on its unique advantages among businesses and individual customers. Today, companies don't have such large funds that they can generously allocate for R&D or marketing. They have to be innovative within a budget. Instead of developing sophisticated features for new products or creating brand new technologies, they need to listen to their customers carefully to evaluate both praises and complaints, watch the customers' spending behaviors and try to see what the customers are really looking for...

Most of us come up with many unusual and creative ideas during the day but have hard time transforming them into concrete projects or include them in processes.  Some of us take notes and make an effort to make use of these new ideas, others easily forget them within the chaotic business day.  There is a simple tool that can organize your ideas on a diagram almost like a visual of your train of thoughts printed out right out of your brain.  Wouldn't this kind of tool help you be more creative yet organized?

Three fundamental concepts are crucial to do business with Chinese businessmen. The first concept Guanxi, which means relationship in Chinese can be defined as developing close ties with business partners whom you respect and trust.  These mutually beneficial relationships don't happen over night but takes time and effort to develop. On daily business activities, guanxi could also mean referring your Chinese business partner to other businesses as a trusted partner and getting him to establish new contacts. The Chinese business community engages in business with close partners only. The second concept is Mianzi, which means face in Chinese. In this case, "face" refers to how one is regarded in the world.  Mianzi is lost when one is criticized or insulted in public; it is gained when one is praised or thanked for good work done.  Losing face is the worst nightmare for a Chinese person. They cannot even tolerate lighthearted jokes in public. The final concept is Renching also related to face.  It means to bestow an honor or a favor on someone, as an expression of respect.  There is no need for immediate reciprocity, however, if a Chinese is bestowed such honor, he will try to find appropriate ways to return the favor.

As we approach the new year, there is a festive mood everywhere. Especially those of you who work closely with the Western world can tell the Christmas holiday is already here. Celebrating holidays is much fun with the family and loved ones in the company of delicious food, good wine and champagne. Residing in Singapore and being surrounded by Western expatriates, I am planning on enjoying this time of the year with some good wine and friends.