Socioeconomic empowerment is a necessary ingredient for success in business model innovations

Socioeconomic empowerment is a necessary ingredient for success in business model innovations

 

In line with the theme of business innovations at ACCA Singapore’s Annual Conference 2017, Patrick Teng, Founder, Chairman and Chief Dealer, shared three case studies of innovative businesses which have disrupted traditional industries, and what he believes their success are based on – co-creation and socioeconomic empowerment.

Co-creation and socioeconomic empowerment were essential components of a successful business model innovation, Founder, Chairman and Chief Dealer, Patrick Teng declared at the annual conference hosted by ACCA Singapore. Citing three household names, Uber, Airbnb and Instagram, he highlighted the similarities that made them so well-known – democratic access, empowerment of individuals from all walks of life, and encouraging collaboration between consumers and service providers.

At the conference, of which SIXCAP was a Platinum Sponsor, Patrick Teng delivered the short address on disruptive business model case studies to an audience of about 500 ACCA members and guests, closing his speech with an announcement of the ACCA channel SIXCAP innovation thundr is slated to host. In line with thundr’s aim to revolutionise the future of jobs through opportunity creation and education, the ACCA channel aims to make accounting knowledge, insights and skills training available to ACCA members and the public. The content is targeted to enable accounting professionals to maintain their current knowledge and upskill to maintain competency and competitiveness.