What do Singaporean leaders think is the secret to business success?

Global business leaders also believe this is crucial in running a successful company.

Proficiency in new technology and data was ranked the most valued area of knowledge in Singapore and critical to business success, a survey by ThoughtWorks revealed.

The survey, which spanned 12 countries including Singapore, said that business leaders in the country value new technology and data as the most important factors in driving successful organisations, the highest amongst the countries surveyed.

“Singapore respondents believe that the most successful enterprises will optimise technology for increased agility and innovation, with technology at its core to drive business thinking,” the survey said.

Additionally, global business leaders predict tech proficiency will dominate the knowledge required to run a successful company in 10 years’ time.

“As Singapore shifts its focus and investments on transformation and innovation, it is crucial for businesses here to fully maximise this support to build capabilities needed to take them through the next phase of digital transformation. The changing competitive landscape, fuelled by the speed of technological advances, compels business leaders to move and respond swiftly in order to tap into various opportunities. Those that embrace this way of thinking will be better positioned to achieve growth and thrive in the post-pandemic era,” said Hormese Tharakan, commercial director of ThoughtWorks Southeast Asia.