Case Studes in Entrepreneurship, Family Businesses, Social Entrepreneurship

Code :ENT0005

Year :2004

Industry :Engineering, Electrical and Electronics

Region : Singapore

Teaching Note:Not Available

Structured Assignment :Not Available

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Introduction: ‘Being creative’was SimWong Hoo’s (Sim) hobby. That hobby turned him into a taker of risks and maker of contrarian moves. His exceptional qualities led to his being described as the “quintessential entrepreneur of Singapore.” In 1981, after “a moment of self-revelation under a starry night sky on an offshore rig,” Sim felt that he needed a goal: he wanted to make $1 million in five years. First Sim developed a unique microcomputer; sound cards6 came next and this ushered in a whole new industry.

In 1981, with an initial capital of $6000, Sim Wong Hoo founded Creative Technology (Creative) (Exhibit II). The launch of the company was one step towards realising Sim’s vision of building a personal computer that could talk, sing and play music, besides crunching numbers. Creative became the world leader in digital entertainment products. The company’s popularity lay in its PC audio. Other products included graphics, DVD, Computer Telephony Integration (CTI), communications, and videoconferencing. In 1992, the company was listed on Nasdaq stock exchange; the first Singapore company to be listed on Nasdaq.7 In June 1994, the company got listed on the main board8 of the Stock Exchange of Singapore. Creative had its corporate office at Singapore,whichwas christened “Creative Resource”, to convey the creativity in work and play at Sim’s company.

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