It is said that being an entrepreneur is different from being a businessman or businesswoman.  Both are in the business (pardon the pun here) of making money right?  Yes but the differences lie in the way of doing the business.  We called someone an entrepreneur when he initiates, conceptualize and materialize a business process which is entirely unique  ( Source: http://ezinearticles.com/?Difference-Between-an-Entrepreneur-and-Business-Man&id=1592570).  In other words, he or she comes out with a refreshing idea or ideas to do business in a revolutionary way.

A businessman or businesswoman on the other hand, starts the business on existing platforms initiated by previous entrepreneurs.  In short, an entrepreneur is a leader while a business is a follower. 

So you want to know how to do business as an entrepreneur?  Let some of these books available in the libraries guide and inspire you to be one (no guarantee you will be one after reading them):

So you want to be an entrepreneur?
By Jon Gillespie-Brown
Publisher: Chichester : Capstone, 2008
Call no.: 338.04 GIL -[BIZ]

Awakening the entrepreneur within: how ordinary people can create extraordinary companies.
By Michael Gerber
Publisher: New York, N.Y. : Collins, c2008
Call no.: 658.11 GER -[BIZ]

1,000 dollars and an idea : entrepreneur to billionaire.
By Sam Wyly
Publisher: New York : Newmarket Press, c2008
Call no.: 338.04092 WYL -[BIZ]

To check the availability of the titles, please visit our online catalogue at: 

http://catalogue.nlb.gov.sg/

  Posted by:  Mr Kweh Soon Huat
Librarian, Adults and Young People’s Services

ASK! about Business & Finance 

For an ardent follower of financial news, you will know that subprime is nothing new. If you do a search of ‘subprime’ for news reported in Singapore on Factiva, the first news article dates back to 1998, about Cityscape Financial Corp’s, a subprime lender, likelihood to file for bankruptcy. (FFBN High Yield: Weekly News Impact For 9/14, Federal Fillings Newswires, 14 Sept 998) . Later, in 2001, the Asian Banker ran a report regarding poorer bank performance and one bank’s plans to evaluate its subprime accounts. (S&P – Credit card charge – offs stable – performance to slip, Asian Banker, 10 Jan 2001).

You can also find an entry in Encyclopaedia Britanica Online titled “Subprime Mortgages: A Catalyst for Global Chaos”, dated 2008. Both resources are accessible via the NLB eResources.

Also read about the current financial downturn on BBC News Timeline: Global Credit Crunch and BBC News Finance Crisis: In graphics. Both illustrates with graphics what happened and impact of steps taken by the US government. If you are financially challenged, open up Investopedia‘s dictionary to help you understand financial terms when you come to them.

So what exactly is all this about? This crisis has dominated news headlines, shaken financial markets, and left many sleepless at night. Its an episode is a worthy of academic debate, but for the men in the streets, here’s a simplified picture of what happened:

a. It all started with subprime loans, which refers to loans lent to people who are likely to have difficulty paying. The lenders therefore absorb a higher risk and levy higher interest rates. Such loans are also described as carrying high credit risk.

b. It wasn’t really in 2008 that things happened. Ripples were felt in 2007 when the subprime mortgage markets suffered big losses. Subprime mortgage is when banks lend money to individuals with poor credit histories to pay for their housing. This is a high-risk loan.

c. As housing prices fell and interest rates rise, these debtors are unable to repay their loans.

d. So the creditors became saddled with bad debts and illiquid assets so serious that even the major lenders found themselves in the red. 

e. Unable to borrow, other companies also lose money.

f. Share markets tumble, and even the common men’s funds take a beating.

If you want to learn more abour investment, follow what many financial savvy people and wannabes do - read. You can find financial and investment book under the call numbers 332 – 332.6s. They can be located in the Business and Singapore collections.

Posted by Ang Mei Jun,

Librarian, Adult & Young People’s Services

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ASK about Anything & Everything 

For such a simple matter, you really wonder why English has got to be so complicated. It’s convenient to express numbers by their numerical symbols (i.e. 1, 2, 3 …), but if you are preparing a formal piece of writing, rules apply as to whether the number should be spelled out.

Different sources however recommend different rules. Many acknowledge the various standards, and settle on the general recommendation that that whole numbers one to nine should be spelled out. This is the guideline used by Associated Press, Chicago. For larger digits, their numerical symbols are used.

Depending on what the number describes, you may not follow the rule all the time. Some guidelines are:
- If the sentence begins with a number, the number should be spelled out.
- Approximations are commonly spelled out.
- Be consistent. If the more than two numerals occur in the same sentence, or numbers that generally should be spelt out and those that need not be happen together, use numerical symbols for all.
- If the numbers are for different categories, you can spell some out. For e.g. (from Webster’s New World): “In the last twenty years, I’ve read 43 books, watched 391 movies, and listened to 1,412 records.” is correct.
- If two numbers occur consecutively, spell out the first number. E.g. (from Webster’s New World): “The ten 30-year-olds ran across the field.”

Numbers that need not be spelled out, unless they appear in the beginning of the sentence, are:
- Age
- Percentages and decimals
- Physical measurements (e.g. 5 kilograms)
- Money
- Dates (The numerical designations of centuries should however be spelt out. E.g. eighteenth century)

For books on grammar usage, check out the DDC number 428 in the General section of library shelves.

Sources:

- Michael,  “10 Rules for Writing Numbers and Numerals”, 30 Jul 2007, Daily Writing Tips, retrieved: 9 Feb 08, http://www.dailywritingtips.com/10-rules-for-writing-numbers-and-numerals/

- Fine, E. H., Josephson, J. P., More nitty-gritty grammar :  another not-so-serious guide to clear communication, Berkeley, Calif.: Ten Speed Press,  c2001: pg 120, 121

- Casagrande, J., Grammar snobs are great big meanies :  a guide to language for fun and spite, New York:  Penguin Books,  2006: pg 156-158

- Loberger, G. J, Webster`s New World English grammar handbook, Indianapolis, Indiana:  Wiley Pub.,  c2002: pg 260-261

Contributed by Ang Mei Jun, Librarian

Adult & Young People’s Services

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ASK! about Business & Finance

Books of related interest:

Nike culture : the sign of the swoosh
By Robert Goldman and Stephen Papson.
Call number: English 659.1042 GOL -[BIZ]

Brand apart : insights on the art of creating a distinctive brand voice
By Joe Duffy.
Call number: English 658.8 DUF -[BIZ]

Nike’s marketing strategy (in Mandarin)
Call number: Chinese 658.8040973 NAI -[BIZ]

For location and availability on the books, please check : http://vistaweb.nlb.gov.sg

I would recommend using NLB’s rich digital resources to help in your research. You can sign up to be a Digital Library member and access the databases:

The following are extracted from e-database, Proquest :

1) Eastman Kodak Company: Kodak Sponsors “Knock It Off!” Conference, Informing Apparel and Footwear Industries on Anticounterfeiting Strategies
M2 Presswire. Coventry: Nov 7, 2007. p. 1
Abstract (Summary)
“Apparel and footwear companies at risk to counterfeiting face a worldwide dilemma that needs to be met with proactive solutions and innovative technologies,” said Steven Powell, General Manager and Director, Security Solutions, Eastman Kodak Company.

“Earlier this month, we met with fashion and luxury goods media and customers in Milan, Italy, to deliver a similar message. From Europe to the U.S., KODAK Security Solutions can help companies that want to proactively protect their reputations from the global counterfeiting threat.” The key to preventing counterfeiting is to add a component to the product that the counterfeiters can’t find, and therefore can’t replicate,” said Powell. “That’s what we’ve done with the KODAK TRACELESS System.” Consumers use Kodak’s system of digital and traditional products and services to take, print and share their pictures anytime, anywhere; Businesses effectively communicate with customers worldwide using KODAK solutions for prepress, conventional and digital printing and document imaging; and Creative Professionals rely on KODAK technology to uniquely tell their story through moving or still images.

2) WINNING UGLY
Eric Newman. Brandweek. New York: Oct 8, 2007. Vol. 48, Iss. 36; p. M22 (3 pages)
Comment: This is a good article on how Crocs became famous.

3) SHOP TALK: HIRSHLEIFER’S PREPS NEW SHOE SHOP…KOHL’S GROWTH STRATEGY…
Natalie Zmuda.. Footwear News : FN. New York: Oct 8, 2007. Vol. 63, Iss. 39; p. 20
Abstract (Summary)
Hirshleifer’s is strengthening its footwear presence with the opening of a 1,200-sq.-ft. space dedicated to shoes. The shop, slated to bow in December, will be located next to the retailer’s main store at the Americana Manhasset in Manhasset, N.Y.

Lori Hirshleifer, who oversees buying and merchandising, said that while the main store already has a dedicated footwear department, there just wasn’t enough space for all the designers and styles that the retailer wanted to carry.

4) How They Got Their Buzz Back
Richard Brunelli. Adweek. New York: Oct 1, 2007. Vol. 48, Iss. 35; p. 14 (3 pages)

5) Putting the Best Foot Forward
Deena M Amato-McCoy. Chain Store Age. New York: Oct 2007. Vol. 83, Iss. 10; p. 4A (3 pages)

6) NEW COLUMBIA FOOTWEAR CHIEF OUTLINES MARKET STRATEGY
Jennifer Ernst. Footwear News : FN. New York: Aug 27, 2007. Vol. 63, Iss. 33; p. 10

Answered by ROY WON, Librarian, Adult and Young People’s Services

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ASK! about Business & Finance

Useful online resources on company listing(s):

SGX. Tomorrow’s Market, Today. (Singapore Exchange)

What is it about?
It is the website of the Singapore Stock Exchange.

It contains all the latest listed companies annual reports.

Why is it useful?
It provides e-reports of listed companies in Singapore.

Accounting and Corporate Regulatory Authority Singapore – Directory of Companies/Business Names

What is it about?
This is the website of the Accounting and Corporate Regulatory Authority.

It has the list and details of registered accountants, business and companies in Singapore.

Why is it useful?
It provides business and companies information, as well as information to register a business / company.

Kompass.com (Kompass)

What is it about?
Listed 23 millions product and services references in 53,000 classes, 1.9 millions companies in 70 countries, 750,000 trade names and 3.5 millions executive names.

Why is it useful?
It provides company profiles, e.g. information of the Singapore Airlines Ltd.

If you’re looking for further information on a particular company, you may email us at ask@nlb.gov.sg or call us at 6332 3255.

Answered by Norasyikin Ahmad Ismail, Librarian, Public Library Services

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ASK! about Business & Finance

Useful online resources on countries’ taxes:

CIA – The World Factbook

What is it about?
The World Factbook is prepared by the Central Intelligence Agency for the use of US Government officials, and the style, format, coverage, and content are designed to meet their specific requirements. Information is provided by Antarctic Information Program (National Science Foundation), Armed Forces Medical Intelligence Center (Department of Defense), Bureau of the Census (Department of Commerce), etc. and other public and private sources.

Why is it useful?
The World Factbook provides national-level information on countries, territories, and dependencies.

It provides a brief background of the country, its geographical information (location, size, climate, etc.), information about the people (population size, age structure, population growth rate, etc.), the government (capital, administrative divisions, legal system, etc.), the economy overview (GDP, labor force, currency, etc.), communication modes, transportation modes, military information, and transnational issues related to the country.

The World Factbook is currently updated every two weeks, and is available in the public domain. Thus it may be used freely by anyone at anytime without seeking permission. However, as a courtesy, please cite The World Factbook when used.

BBC NEWS : Country Profiles

What is it about?
It provide an instant guide to history, politics and economic background of countries and territories, and background on key institutions.

Why is it useful?
It also includes audio or video clips from BBC archives.

You may search for information via a country, territory or international organisation from the menus provided.

EIU.com (The Economist Intelligence Unit Limited)

What is it about?
It provides an in-depth analysis of political and economic trends in nearly 200 countries.

Why is it useful?
It provides country reports and outlook, e.g. Singapore outlook for 2005 –2006.

If you’re looking for further information on a particular country, you may email us at ask@nlb.gov.sg or call us at 6332 3255.

Answered by Norasyikin Ahmad Ismail, Librarian, Public Library Services

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ASK! about Business & Finance

Most of the sources we’ve consulted provide a 5-10 year forecast.

Websites, Free access:
Swiss Re
Do a search in the text search box, keyword “insurance”, you should be able to find recent reports with forecasts

Insurance Information Institute: http://www.iii.org/media/industry
Some forecast papers near the bottom of the page, last accessed 24 August 2006.

Databases, On-site access at NLB libraries:
Euromonitor, provides country reports with forecast (see screenshots), keyword search “insurance”.

Factiva, a news database. Normally, you would have to access Factiva at the libraries, see Factiva

Answered by Jillian Lim, Librarian, Adult & Young People’s Services

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ASK! about Business & Finance

“Per capita income is often used as a measure of the wealth of the population of a nation, particularly in comparison to other nations. It is usually expressed in terms of a commonly-used international currency such as the Euro or United States dollar, and is useful because it is widely known and produces a straightforward statistic for comparison.”
Source: Per Capita Income, last accessed 24 August 2006

“The total national income divided by the number of people in the nation”.
Source: Per Capita Income , last accessed 24 August 2006

Answered by Kweh Soon Huat, Librarian, Adult & Young People’s Services

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ASK! about Business & Finance

The approval (or disapproval) of your business proposal to your boss lies primarily in the actual proposal itself. So how do you convince your boss your business proposal admist other proposals? How would you write it in the most convincing manner such that it “stands out” amongst others? Learn to write powerful & persuasive proposals from these print resources in NLB’s collection…

The perfect business plan made simple by William R. Lasher.
New York : Broadway Books, c2005.
Call No. q658.4012 LAS -[BIZ]

Powerful proposals : how to give your business the winning edge by David G. Pugh and Terry R. Bacon.
New York : American Management Association, c2005.
Call No. 658.453 PUG -[BIZ]

Persuasive business proposals : writing to win more customers, clients, and contracts by Tom Sant.
New York : AMACOM, c2004.
Call No. 658.15224 SAN -[BIZ]

Found this question interesting? What do you think?
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