Creative leaders are those who possess high standards of personal ethics. They face pressure situations bravely, and are resilient to defeat. They are charismatic and persuasive, and have an innovative streak.
A Devoted and Assiduous Leader
One such ingenious leader is Scott D. Smith. He joined Beyonics as the Chief Executive Officer on the 18th of July, 2016. Having more than 30 years of experience with technology companies, he has served varied roles in sales, marketing, and operations with Fortune 500 companies including Canadian electronics manufacturing services provider Celestica, Chinese technology manufacturer Lenovo and global information technology provider IBM in leadership roles in the North and South America, Europe and in Asia. Prior to Beyonics, he was the Executive Vice President and Chief Commercial Officer at Moduslink, a global supply chain services company. He is a Bachelor of Science from Clarkson University in New York.
Scott firmly holds that building loyalty in employee and customer base can help the investors in getting the financial rewards required to satisfy their needs. As a CEO, one must be able to make correctional adjustments as per requirements. This requires a great team of people that shares the vision. Everyone in the team plays a role in Scott’s success very much the same way as how he plays a role in their accomplishments. Recruiting and motivating the right people who share the same passion and vision inspires him to greater heights and they fuel each other’s desire for success.
Scott, Leading Beyonics to a Glorious Future
Beyonics is one of the region’s leading precision part manufacturers offering complex integrated manufacturing services such as precision metal stamping, innovative mold design and fabrication capabilities, aluminum die casting and machining, electronics sub-assembly, and complete product manufacturing. Headquartered in Singapore, Beyonics has a combined workforce of over 5,000 staff across 7 factories located in Singapore, China, Malaysia, and Thailand, and has seven global sales locations in the US and Europe.
Scott believes that South East Asia will become the new axis of manufacturing growth in Asia, coupled with a growing demand for precision engineering. Over the last two decades, many precision engineering companies in this region have evolved, and many of them have either been acquired or integrated into larger multinational companies. This consolidation phase in the last five years has created an unbalanced demand and supply situation. With demand for services from companies such as Beyonics being greater than supply, it becomes a natural stimulus for its future growth.
Under Scott’s astute leadership, Beyonics has invested in two major building initiatives. One in its Singapore headquarters, where it has erected a new 21,368 square metres facility, and the other one includes its operations in Johor Bahru’s i-Park in Malaysia, adding another 12,000 square metres to its plastic injection molding capabilities. It is also planning to erect a new building for stamping on the same i-Park site. It will become a mega campus where it can proudly display all of its capabilities and competencies. Furthermore, it is also creating a mirror image of its Malaysia operations in Changshu, China. Beyonics is proud to be one of the first anywhere in the world in its sector to adopt this comprehensive vertically integrated business model in precision manufacturing.
Its pipeline of new business has grown from 60 million to 600 million US dollars in 2017 in just a year. Its revenues have more than doubled in the last three years and it aims to be a billion-dollar business by 2021. It expects to double its topline and EBITDA in the next three years.
Scott’s Views towards the Future
Scott aims to grow Beyonics by 25% per year across all four of its core business segments. He has plans to keep delighting the existing clients to grow his current base and attract new clients with Vertical Integrated Innovative solutions. He is passionate for excellence and always intends to continue to think out of the box in order to achieve bigger goals.
Message for Emerging Entrepreneurs
Scott advises young aspiring entrepreneurs that the road to entrepreneurship is never smooth-sailing and one will get hit hard along the way. Apart from personal growth and satisfaction, there are endless life experiences which they will not get elsewhere. By taking punches and yet continuing their journey, one develops an iron jaw and nurtures a stronger character and mindset. It is important to know that people dictates the success of your company hence you need to hire a great team, listen and collaborate with your team and customers, and be flexible to make a great business.