Graduate Studies Blog
NANYANG EXECUTIVE MBA
Navigating An Emerging Market – A Nanyang EMBA Alumnus’s Perspective
Before you jump in and start steering a business in Myanmar, it is a good idea to learn cultural intelligence so leaders can “blend in” and lead from within, says Brandon Lye, CEO of Tiger Asset Management.
Developing economies offer unique challenges and opportunities for businesses and their leaders. It takes skill to navigate the market in the diverse Asian region; because of nuances that the unfamiliar may fail to grasp, a well-intentioned leader can inadvertently cause more harm than good promising business relationships.
“To deftly navigate emerging markets in Asia, due diligence is needed, and a successful leader needs to understand local norms and cultures, and be able to build deep connections in order to lead with impact.”
Brandon Lye, EMBA Class of 2022
CEO
Tiger Asset Management
Brandon Lye, Chief Executive Officer of Tiger Asset Management Pte. Ltd. (TAM), an investment firm and trustee manager for a digital real estate trust with assets under management in Singapore, the Philippines and Myanmar, and a Nanyang Executive MBA (EMBA) participant, discusses his journey navigating Myanmar’s business landscape. He explains why taking on the Nanyang EMBA at this point in his career was timely, and how the EMBA was critical in helping him achieve his goals in Myanmar as well as explore other opportunities in the region.
Capturing the vast potential of emerging markets
Brandon’s first foray into Myanmar was as Director of Capital Projects and Infrastructure at PwC in Singapore. He co-authored “Transforming Yangon–The Heart of Myanmar,” a PwC report that outlines the infrastructure and economic development potential of the country’s former seat of government and its largest city.
After his stint at PwC, Brandon joined EFD Group, a young Myanmar conglomerate with a diverse portfolio, including financial services, mining, real estate, agriculture, and industrial. The move from PwC to EFD Group allowed him to shift from being a consultant working on typically short-term projects to a more hands-on role where he could see things through to the end. In 2022, Brandon moved on to join TAM as CEO to lead the investment and asset management of digital real estate and infrastructure portfolio across Southeast Asia, including Myanmar.
“I find much more satisfaction in really understanding the issues and working in a longer-term engagement within an organisation. I also fell in love with Myanmar after setting foot there and decided that this is a country that I want to stay in touch with and contribute to, whether in a personal or a professional capacity,” says Brandon, who has been working with the overseas offices remotely from home in Singapore due to COVID-19.
How to navigate emerging Asian markets
Bordering India, Bangladesh, China, Thailand, and Laos, Myanmar is a country with a rich history. Even amidst the current socio-political uncertainty, it remains a dynamic economy with huge promise. Like most of Southeast Asia, the country has great potential for digitalisation – and a need for savvy leaders who can identify these opportunities and innovate business processes to ride its economic growth.
Currently, about 43% of the population uses the internet and there are more mobile connections than people as some own more than one device. Its population of 54 million is relatively young, with a median age of 29 years, which may make digital adoption easier.
“When it comes to making business decisions, some may find the Myanmar business environment slightly more closed off than others. Information isn’t always easily available, so you need to be on the ground, talking to people,” says Brandon. Researching a person’s background or a corporate profile, for instance, may not be a straightforward process, while language and cultural differences are barriers to circumvent.
This means that doing business demands more time and effort; leaders should prepare accordingly.
Building relationships is a top priority for Brandon. In Myanmar, work is rarely discussed during the first business meeting. “People want to build rapport and trust before discussing professional matters,” he explains. Another reason to add a personal touch to business interactions is that most businesses in the country, even the country’s large private banks, are family-owned. In this environment that’s connected by familial relationships, personal ties matter.
To do business in Myanmar, it is also important to be familiar with the local culture, show respect for social norms and customs, and understand the socio-political undercurrents.
“You don’t need to be an expert but knowing what the country is going through goes a long way in ensuring you’re making business calls that are respectful of the country, its people, and its history.”
For TAM, technology has played a critical role in weathering COVID-19 related challenges. At the onset of the pandemic, when business operations shifted to remote working, the company invested in digital tools to conduct virtual meetings and facilitate interactions. It called for a bit of an adjustment in the beginning, but the company’s predominantly young and tech-savvy employees picked up the technology quickly.
The Nanyang EMBA shapes culturally fluent leaders
The decision to join the programme was a personal one for Brandon: “Pursuing an MBA is a life goal. I believe in a continuous journey of learning regardless of one’s age and seniority level.”
He adds, “I graduated from Nanyang Business School at NTU many years ago, and this is also where I met my wife. So NTU always has a special place in our hearts,” he says.
The Nanyang EMBA programme helped Brandon stay abreast of upcoming business and technological trends that could impact his company and the industry. Some modules he found particularly helpful include those on digital transformation, emerging technologies, and strategy.
To help business leaders “blend in” and lead from within without “stepping on anyone’s toes” – a key skill in culturally diverse emerging markets – the Nanyang EMBA programme offers a cultural intelligence module.
The holistic programme has also widened Brandon’s network globally as he learned alongside other experienced business leaders, and let him explore potential collaborations with some classmates, beyond the classroom.
Tapping on his contacts and the networks fostered through the programme, Brandon hopes to bring more business opportunities for local businesses in Myanmar to link up with the rest of the world. “I would like to introduce more classmates from the Nanyang EMBA programme to Myanmar and take the opportunity to let the world know more [about the country],” he adds.
For business leaders interested to grow in Asia, with a global outlook on high-level issues such as sustainability, digitalisation, and economics, the Nanyang EMBA can help you realise your vision.
The Nanyang Executive MBA is a part-time 13-month programme designed for senior leaders aspiring to transform the way they lead, delivering a dynamic curriculum that bridges business, technology, and innovation for businesses to excel in global environments and adapt to each new wave of digital change.
To find out more, visit our website or contact us at execmba@ntu.edu.sg to schedule a 1-to-1 discussion on your postgraduate aspirations.
Register here for a chat: https://bit.ly/NanyangEMBAchat.
