The Singapore government’s attitude towards ethnic Chinese businesses has
changed from one of political alienation to one of firm commitment to assist them. A
holistic approach has been adopted to ensure its effectiveness. The success of converting
traditional Chinese family business (also include other ethnic businesses) into viable and
resilient business structures hinges on the business enterprises’ sheer determination in
developing their capabilities. These capabilities will be tested in the marketplace with
global competition in the rapidly changing environment. In this case, globalization may
bring vast opportunities to these business enterprises but it can also destroy them within a
short span of time with lightning speed.