11 May '11, 9pm

TODAYonline | Business | SME | Is a business merely a business?

"DO COMPANIES see themselves as merely a business or one that has a unique business model?" This is the question Mr Mike Tiong, Group CEO of McCoy Holdings (McCoy), poses to fellow entrepreneurs. The difference is that companies that see themselves as a business focus very much on profitability, whereas those with a strong business model constantly look for ways to add value to their products and services and thus enjoy long-term sustainability. "Many businessmen want to bring in profits," says Mr Tiong. "But what's more important is, they must have a scalable business model so that an innovative idea can be nurtured and can grow into a bigger idea. "To achieve this, McCoy re-invests 50 per cent of its funds in business upgrading." McCoy started out as a distribution company, bringing in original equipment manufacturer (OEM) brands of electronic products to the market. But...

Full article: http://www.todayonline.com/Business/SME/EDC110512-0000308...

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