SINGAPORE may have just turned 52, but many homegrown businesses have been around for far longer. Greatearth, Boustead, Drew & Napier, Braddell Brothers, Haw Par, Eu Yan Sang and Yeo Hiap Seng - to name a few - have existed for more than a century.
A chief concern for old companies is succession planning. Whether it is a family business trying to balance lineage with meritocracy or a company working to retain its talent pool, succession considerations is something no company can ignore.
WHEN it comes to doing good and corporate social responsibility (CSR), it seems that there is often a mistaken notion that it is something only large multi-national corporations can afford. For a start, it is not about spending vast resources - be it princely sums of money or hundreds of hours of manpower. While these are certainly various means of contributing to society, there are many other innovative ways that small and medium-sized enterprises (SMEs) and startups can make a difference.
Many enduring family businesses display exemplary stewardship behaviour.