Thursday, April 30, 2009

Confronting issues (not being confrontational)

I know lots have been written about Obama and his style of leadership but I like how this article highlighted some exceptional qualities of his style. I like how Obama actively confronted issues, which helped project a sense of trustworthiness and courage. In particular, the way he went about confronting issues - actively listening, showing how much he understood the issues and the different angles to the argument, offering provocative thoughts to solicit reactions/opinions etc. I think he personally set a new style of communication.


In the wake of President Barack Obama's recent trip to Europe, many people have been left wondering what the new idea was. Some are looking for a new coalition that will extend change beyond the U.S. Others would have liked to see results.

They are all missing the point. His métier is neither new thinking nor the exercise of influence nor the use of power. He is in the business of inspiration. It defines his approach to leadership and speaks to the kind of leadership campaign at which he is a master.


For some time now, I have found that by applying the Jungian framework of four ideal characters as presented by Robert Moore, I could create a useful topology of leaders. Some leaders are recorded by history as magicians, for they tried to change the world by the brilliance of their ideas. (Henry Kissinger was a magician, although Richard Nixon was the originator of the key ideas of the era.) Lovers know how to mobilize people by just sharing their feelings and influencing them. Bill Clinton was second to none at that. A third category of leaders are warriors, always focused on exercising power and winning, like George W. Bush. However, there is another kind of leader: the sovereign. Like Obama, sovereigns are in the business of inspiration.


Redefining What Is Possible
Inspiration is the breathing of new air; it is about redefining what is possible. It stimulates both the heart and the mind, but it appeals to the soul. In the past 20 years, inspiration has been on the retreat in the West both in practice and in leadership literature. For several reasons, people have been enamored of the other three elements of leadership: thinking, motivation, and empowerment—often referred to as execution.


Yet, most collective action is the result of inspiration. Just ponder these questions: How would the U.S. have evolved without Lincoln; India without Gandhi; Africa without Mandela? When it comes to leadership, inspiration is more important than thinking, mobilization, or empowerment, although it is one of four components of what I call the TIME framework of leadership.


Each of these components corresponds to a different "campaign," a sequence of actions a leader undertakes to bring about collective action. Magicians are greatly skilled in leading "thinking" campaigns; lovers are naturals for "mobilization" campaigns; warriors for "empowerment"—including disempowerment—campaigns. And sovereigns like Obama excel in "inspirational" campaigns. In fact, I believe Obama`s recent trip to Europe provides a good case study of the do's and don'ts of such a campaign.


Obama inspired by actively listening, acknowledging, relating, confronting, setting boundaries, and defining an inescapable future—and in that sequence. He did not favor the new at the expense of the old; he did not favor friends at the expense of others; he was more concerned with impact than results. Obama impressed by listening to the arguments and demonstrating how much he knew of the issues on the agenda and how interested he was in understanding them. He solicited reactions to counterarguments that he offered and also took personal notes.


Understanding Others' Positions
Unlike Clinton, President Obama did not seek to relate mainly by warmth of personality and a sense of humor, but rather by his ability to understand the position of others. Several times, especially when talking either to audiences of younger people or in Turkey (a country with a Muslim majority), he used his personal story as the reason they should trust him. In doing so, he demonstrated that he knows that what sovereigns need most is trust and that the best shortcut to trust is the public admission of joint vulnerabilities. At no point did he apologize for American actions, but he did rely on the power of acknowledging mistakes—like starting the war in Iraq and starting the financial bubble—to create momentum for his campaign.

However, listening, relating, and winning trust are just the preliminaries of inspiration. The redefinition of what is possible ultimately necessitates confrontation. And, as every good lawyer knows, acknowledgment of the weaknesses in one's own case establishes credibility in confronting the arguments of others.


While in Europe, Obama confronted a lot of arguments—some of them advanced by Europeans, some of them previously espoused by American policymakers. He repeatedly confronted the long-standing American perception that the European Union is a mirage. The message of his several press conferences was a plea for responsibility rather than for compliance with the wishes of America. This disappointed some in the U.S., but made it easier for the Chinese to contribute $50 billion to the IMF during the G-20 meeting and for other countries to pledge 5,000 new troops for Afghanistan during the NATO meeting that followed.


He also confronted some entrenched European perceptions. The town hall meetings dispelled the perception that a dialogue with the U.S. is not possible. The pictures with the other G-20 and NATO leaders—where Obama did not just walk to the center front—made people think that the U.S. has the capacity to evince humility. In Turkey he set boundaries: He promised not to speak of the Armenian genocide but urged Turkey to open the frontiers with Armenia. He would support Turkey's entry into the EU but expected Turkey to grant minority rights to its Kurdish minority. These words could easily be interpreted as interference in domestic affairs, but the Turks understood that this President was not about carrots and sticks, but rather standards that he deems applicable across national frontiers and religious divides.


Emotional Steadiness
Obama loyalists in the U.S. called his trip a triumph. Almost all Europeans observers found the new President articulate and charming. "His personal style has a touch of the emperor and a touch of the rock star—but with an appealing humility that is common to neither profession" wrote the Financial Times. Even the left wing press extolled his intellectual thoroughness and emotional steadiness. Nobody doubted that Obama was genuine in his beliefs and indeed charismatic.


The fact that Obama came from lowly origins to occupy the most powerful office in the world enhances his charisma. However, despite Obama's qualifications and charisma, a lot of people on both sides of the pond remain skeptical. They are still looking for the idea that Obama represents. They are pointing to the lack of global agreement on how to fix the economy. They are wondering whether, even if Obama is the right man, he came at the wrong time to have any impact—given the decline in American economic power.


I believe the skeptics are missing the point: Obama came to Europe to inspire. He accomplished that by the boldness of his ambitions, which set him apart not only from his predecessor but also from the leaders he mingled with. He wants to shock the world economy back into action, abolish nuclear weapons, reconcile Christianity and Islam, and ultimately usher in an era of sustainable growth and responsibility. Focusing on standards comes to him naturally; this is how he has excelled.


Nobody laughed with him in the corridors of power, and nobody demonstrated against him in the streets. The American brand was greatly restored in the course of a week. This was the target of the short campaign.


Transformation of America
Restoring the American brand in Europe will not be enough for the new President to be successful. After all, Europeans will not vote in the next U.S. election. Obama has set high standards for himself: the transformation of America. Transformation cannot occur on inspiration alone. It takes a series of campaigns. Some will require new "thinking," like the Geithner plan. Some will require "mobilization," to refinance mortgages and to put people back to work. Some will require "empowering" the regulators and disempowering those who want to become too big to be allowed to fail. Each of these campaigns has its own requirements, begs for different teams.


It is not clear that Obama is himself capable to lead all these campaigns. He is, however, gifted in providing what most transformational efforts lack to their demise: a new Purpose. We have seen the limits of America as a superpower trying to change the world on its own. An era of responsibility and sustainable growth presupposes an America that strives for excellence for its own shake and sets the standards while pursuing it.>

via Businessweek

Wednesday, April 29, 2009

Need to be inspired

Bad week, shitty client, generally dragging my soul along as the long weekend draws closer. How shitty? Imagine opening your mouth, two sentences describing the industry and nationality of the client comes out and the candidate cuts you short, saying he knows who the client is and hem-haw...basically not interested to even say a word more. It doesn't help that the stupid client tells interviewees who have been persuaded to meet them: You have to come in at least 2 weekends a month, your leave is 14 days...blah blah, when they already are at the Corporate level. Nor is it particularly encouraging that previous employees bitch about their ex-company to industry insiders.
So it calls for supreme creativity and an iron will to plod along and hopefully dig out someone to plonk into the role. Stumbling across this photo/idea cheers me up immensely. Isn't this bedside bookstand/ nightstand/ lightstand idea ingenious? I'm always inspired by creative stuff.

via Apartment Therapy

Tuesday, April 28, 2009

$200 Netbooks! I can't wait...

SAN FRANCISCO (Reuters) - A new class of cheaper, smaller netbook computers might upset the IT establishment this year and potentially usher in new players in a hotly competitive market.

The biggest change in the new pint-sized laptops is what they won't have: Intel Corp (INTC.O) chips or a Microsoft Corp (MSFT.O) Windows PC operating system, which dominate netbooks today.

The new netbooks, which use less energy, will run on the low-power ARM processor platform now used in nine out of 10 mobile phones, rather than Intel's x86-based Atom chip. The U.K.-based ARM Holdings Plc (ARM.L) licenses the chip technology.

As many as 10 ARM-based netbook models could hit the market this year, according to ARM, which declined to identify specific manufacturers. Major PC players and Asian contract manufacturers alike are interested, analysts say.

Enderle Group analyst Rob Enderle called the new netbooks "incredibly disruptive," saying: "This is a market that puts the existing PC structure at risk."

While analysts say it's not yet clear if consumers will embrace the ARM devices, interest has been galvanized by the emphasis on power efficiency, prices as low as $200 and the promise of anywhere, anytime computing on PCs small enough to slip into a purse.

What's sacrificed is users' familiarity with PC-based interfaces and systems and sheer processing power. The current $300-$400 Atom netbooks are already mainly good for just surfing the Web and less graphics-intensive applications.

"We're right in the middle of a huge shift in the market," said Eric Openshaw, U.S. technology leader for Deloitte LLP.

Openshaw said non-Windows netbooks will need to demonstrate a simple and accessible user interface at the application level if they hope to gain traction with consumers.

Windows XP can't run on ARM, so the new netbooks will have Linux-based software, including, analysts and industry executives say, Google Inc (GOOG.O) Android, which has been used so far in smartphones.

But don't count Microsoft out just yet. Although the software giant declined to comment when asked if it is planning an operating system for the new netbooks, analysts say it could easily enter the market if it chose.

Intel pointed out there are as yet no ARM netbooks on the market and that its Atom chip has a full year's head start.

"We're not slowing down, we fully expect competition and we continue to believe that Atom is the right choice for our customers and consumer," said spokesman Bill Calder.

NEXT WAVE

The still-evolving netbook market is growing thick with players from all over the tech sector. Wireless carriers such as AT&T Inc (T.N) are helping lead the charge, while graphics chipmaker Nvidia Corp (NVDA.O), wireless chipmaker Qualcomm Inc (QCOM.O) and Freescale Semiconductor Inc have all designed ARM-based processors that can be used in netbooks.

The netbook phenomenon took off in 2008 to the tune of 11.7 million units, led by companies such as Acer Inc (2353.TW) and Asustek Computer Inc (2357.TW) that were quick into the market. Nearly every PC vendor offers an Intel Atom-based netbook, including Hewlett-Packard Co (HPQ.N) and Dell Inc (DELL.O).

Analysts forecast 20 million to 30 million netbooks will be sold this year, making up an ever larger part of overall laptop sales and marking one of few tech sectors still experiencing robust revenue growth.

"It's definitely going to be a different sort of device than today's netbooks," said Phil Solis of ABI Research, who expects ARM netbooks to make up 15 percent of the overall netbook market in 2010.

IDC analyst Richard Shim said the first wave of netbooks brought a PC feel to bridge the gap between laptops and smartphones. ARM netbooks, he said, represent a push from the opposite direction.

"The smartphones are now moving up," he added.

It is widely expected that the Computex trade fair in Taiwan in June will see a number of announcements about ARM-based netbooks. With less expensive ARM chips and free or very cheap operating systems, the netbooks could sell for even less than $200 if, as expected, wireless carriers subsidize purchases bundled with a data plan.

Tech blogs were recently buzzing about a prototype netbook built by Taiwan contract laptop maker Wistron Corp (3231.TW) shown at the recent CTIA show in Las Vegas. The device was based on Qualcomm's ARM-based Snapdragon platform.

Monday, April 27, 2009

Monday, April 20, 2009

Blue Ocean Strategy


HOW TO CREATE UNCONTESTED MARKET SPACE AND MAKE THE COMPETITION IRRELEVANT (Note: this is a dynamic, constant process)


Possibly one of the best strategy books around, which explains its explosive popularity.


The six principles:

1. Reconstruct market boundaries.

2. Focus on the Big Picture, not the numbers.

3. Reach beyond existing demand.

4. Get the strategic sequence right (utility, pricing, cost, adoption hurdles).

5. Overcome key organisational hurdles.

6. Building execution into strategy.


I particularly like the attention paid to Number 6, because it is most difficult to translate strategy plans into reality and make it work. People and politics are always the key hurdles and being able to overcome these hurdles will be crucial to the success of any grand strategy plans.


"...A consigliere is a politically adept but highly respected insider who knows in advance all the land mines, including who will fight you and who will support you.." (Reminds me of The Godfather series)


"...Don't fight alone. Get the higher and wider voice to fight with you. Identify your detractors and supporters - forget the middle - and strive to create a win-win outcome for both. But move quickly. Isolate your detractors by building a broader coalition with your angels before a battle begins. In this way, you will discourage the war before it has a chance to start or gain steam. Key to winning over your detractors or devils is knowing all their likely angles of attack and building up counterarguments backed by irrefutable facts and reason..."


"Fair process is central to building execution into strategy." The 3Es of a Fair Process - Engagement, Explanation and Expectation Clarity - will help you build a coalition of the willing to drive through changes and realise your battle plans.

Friday, April 17, 2009

On Marketing

This is excerpted from an interview with an ex-CMO (Chief Marketing Officer) in Businessweek's Managing - Marshall & Friends Column on 31 Mar 09:

...Demonstrate real accountability and show how you're having a real impact on the bottomline. This is the only way to get support and respect from other C-level peers. Accountability is the key to credibility and in business, this means using hard metrics to demonstrate impact...

...Marketers need to speak about business in business terms to their peers, using words and metrics like revenue, cashflow and profitability. Softer metrics like brand awareness don't have much clout outside the marketing department. Many marketers make the mistake about lowering costs instead of talking about increasing revenue. Beyond that, they need to understand not just their own budget, but how that money is bringing business...

...Marketing needs to build predictive modelling that demonstrates their business case and ROI that today's actions will have down the road...

Wednesday, April 15, 2009

Food Poisoning

The only post in a week is to say I have food poisoning. How pathetic is that? I have been down and out of action for past two days. The only consolation I can get is that the weekend is drawing closer. Looking forward to the public lecture organised by the National Museum on Chinese religion in Singapore. The National Museum does have some interesting stuff going on, like this below. I am signing for the Toponymics and Food (what else) ones.



Wednesday, April 8, 2009

What Superstars look like

Came across a superbly talented profile recently, whom I thought possess all the attributes of someone who will go very very far in his career. Pity I did not have the chance to meet the guy, who was surfaced before I came into the firm. So how good is he?

Rapid rotation with increasing job responsibilities within his company: he did 5 roles in 5 years in 3 different countries, moving up from marketing to business development to business unit manager and finally Country GM. Having the opportunity to be located in the US, where the headquarters are, for a couple of years is another indicator of how much potential he is perceived to have by his company. And he is only 30 years old.

Good academic track record: INSEAD MBA says a lot. Having a good MBA tells people this much: you must beat stiff competition to squeeze into the top schools, so you must be pretty good.

For the softer aspects: the ability to marry dichotomies and a high IQ and EQ

Marrying dichotomies: A strong strategic orientation and the ability to get things done is a pretty powerful combination. Going into a business, sizing up quickly and accurately the business space, set strategic goals and articulate them well, getting the team along to deliver the goods… Management consulting types are usually good at the strategic and planning level but may not like or have the ability to get their hands dirty. Operational guys, on the other hand, may not have the strategic orientation. If you can do both equally well, you will be prized in any market. And if you are a techie (education and work experience) with the ability to translate technical stuff into business value, you are practically Kobe beef. Employers get very excited when they see someone like this.

High IQ and EQ: Being smart alone doesn’t carry one very far; there is only so much you can achieve alone. If you can demonstrate the ability to grow businesses and grow a team along with it, you can be sure you are on the way to somewhere. Having a high EQ doesn’t mean you make friends easily or have a wide social circle. It’s about how you can motivate and influence people around you to work towards a common goal, day in day out. Easier said than done, or else why would those “Influencer” books be flying off the shelves?

Tuesday, April 7, 2009

A Good piece of Writing

I like this article from Finance Asia very much. And I never knew they write well. Why I like it: Informative, yet not bogged down by details. The style is engaging, with a good sprinkling of creative uses of language. A coherent piece that is highly reader-friendly. What could turn out to be a mere listing of appointment shuffles was instead cast from a business angle, adding great value to its consumers. Adopting a story-telling approach can work even in business (and supposedly boring) writing.

Rankin is going to Deutsche Bank
6 April 2009 FinanceAsia

Rob Rankin is to join the German bank as CEO for Asia-Pacific, while Colin Grassie plans to return to Europe.

After more than six months of largely bad news on the employment front -- here is an announcement that is a true win-win for both the bank and the individual. Deutsche Bank is in the process of finalising a contract to hire former senior UBS banker Robert Rankin as CEO for Asia-Pacific (ex-Japan, but including Australia).

Here is why the announcement is a coup. Rankin used to run the Asia-Pacific investment banking division for UBS. While at UBS, he was well known as a dealmaker who was able to juggle four transactions and keep his eye on the next six. A conversation with Rankin is an exercise in itself -- he's so genuinely excited about his projects that you can't help but get caught up. And when you're finished talking to him, you feel as if you've run a marathon. He's a deal man.

So, Deutsche Bank gets the opportunity to scoop up a truly senior banker who has his finger on the pulse. The German bank -- having not taken any government money to date -- is signalling it will have the money and the risk tolerance to invest in deals that Rankin believes in.

At the same time, Rankin gets a bigger job. "This is a very broad regional remit," says a source close to the negotiations. "Rob will bring enormous experience to the job but he's also taking on a very senior role within Deutsche Bank so this is a big step forward in his career."

Deutsche Bank has roughly 18,000 employees in Asia-Pacific, excluding Japan but including Australia.

Deutsche Bank officials declined to comment on this story. And so did Rankin, who is currently on vacation with his family after resigning from UBS in the first half of March.

Sources close to the negotiations say Rankin will succeed Colin Grassie, who plans to return to Europe in a senior role with Deutsche Bank. The hiring of Rankin could be announced later this month, however he is not likely to begin the new job for some months as he will still be on gardening leave.

Speculation about where Rankin would turn up has been a hot topic in investment banking circles. Many figured Rankin would likely take one of the head jobs around the region and Deutsche Bank and Barclays Capital were obvious choices. The rumours that Grassie was ready to leave the region have been around for some time, which is why Deutsche Bank was a likely alternative; at the same time Barclays Capital's head of Asia-Pacific investment banking, Darcy Lai, left the firm in early March. Of the two, Barclays is a smaller franchise than Deutsche Bank, so most put their money on the latter option. Barclays is said to still be interviewing candidates to replace Lai.

These changes on the investment banking front are part of a larger trend of banks reorganising themselves and -- partly as a result of that -- of high-up bankers leaving for firms that might be a better fit in the new financial environment. Invariably, the reorganisation includes relocating more top guns for jobs out here, taking two old-Asia hands and giving them a shared title, or even adding new jobs because, relative to the rest of the world, Asia is looking pretty good. The moves show the direction each firm thinks is its best bet.

For example, when Rankin left UBS in early March, the firm announced that he would be succeeded by David Chin and Matthew Hanning, who became joint heads of investment banking for Asia. Both are based in Hong Kong and have extensive experience in M&A banking -- Chin led UBS's financial institutions group and Hanning had headed up mergers and acquisitions and corporate finance since he joined from Morgan Stanley in 2006. In addition to Chin and Hanning, UBS added yet another layer. It appointed Henry Cai to a new role as chairman of investment banking for Asia, a job that he took on in addition to his current role as head of investment banking for China. That signals the firm is still putting its eggs in the China basket.

Over at Credit Suisse, Paul Raphael, who was head of the investment banking department (IBD) for Asia-Pacific for close to two years, also resigned in mid-March, although he is reportedly still in talks with the firm about a new posting. Raphael was replaced by Vikram Malhotra and Helman Sitohang who were appointed co-heads of IBD; both have years of experience at the firm in Asia. Malhotra was involved in the dual-listing initial public offering for Industrial and Commercial Bank of China, which at $22 billion is still the largest IPO in the world. And Sitohang is the investment banker to turn to in Indonesia if you want to know what's what. Credit Suisse clearly saw that its Asia bench was deep and decided it didn't need to relocate bankers from other parts of the world.

And Citi, as part of its efforts to consolidate the corporate bank with the investment bank, announced a reorganisation in February. Mark Renton, former co-investment banking head for Asia-Pacific, became global co-head of the public sector group, while the job of heading up global investment banking for Asia-Pacific, which Renton shared with Dan McNamara, was eliminated as part of the restructuring. Instead, Farhan Faruqui was appointed head of global banking, Asia-Pacific -- global banking integrates Citi's corporate and investment bank in Asia-Pacific including Japan. This consolidation shows the rising importance of the commercial banking side of its business, but also that it didn't need to import talent.

Arguably the earliest to reorganise upper management in the region was Goldman Sachs, which in June announced that two senior bankers from London and New York were joining the Asia ex-Japan investment banking team. It was a move that many saw as an acknowledgement by the firm that, if any part of the world was going to manage to continue doing business during this global downturn, it was Asia. So in July, Ravi Sinha relocated to Hong Kong from New York to become co-head of the investment banking division in Asia ex-Japan, together with Mark Machin. And in August, Richard Campbell-Breeden relocated to Hong Kong from London to become co-head of M&A in Asia ex-Japan, alongside Johan Leven. Last month, the firm said that Machin was relocating to Beijing to help build the bank's business in China -- a move that outsiders say indicates that there's not enough room for so many chiefs in Hong Kong. They need to be spread around the region.

The hiring of Rankin underscores Deutsche Bank's intention to build its business in Asia, particularly its public market capital-raising and M&A advisory services. Initially an M&A lawyer, Rankin joined UBS in Australia in 1990 and moved to Hong Kong in 2000 to head up the investment banking team focused on telecoms, media and technology. He became co-head of Asia investment banking in 2003 and sole head of the same division in 2004, when his fellow co-head Peter Burnett moved on. In January this year, his investment banking coverage widened from head of Asia to head of Asia-Pacific as Australia was also included under his leadership.

Under his guidance, UBS built a strong domestic Chinese investment banking business, and the bank was ranked first by Dealogic last year in terms of investment banking revenue in Asia ex-Japan with $409 million. By contrast, Deutsche Bank ranked sixth in Asia with $226 million in revenue, according to Dealogic, which tracks financial activity.

Rankin's appointment also continues a trend of Deutsche Bank cherry-picking bankers from other firms. In February the bank announced that Richard Gibb would join as one of four new managing directors in its financial institutions group (FIG), which is part of the global banking division. He became co-head of FIG in Asia-Pacific, working alongside Bill Nicholl, the other FIG co-head for the region. Gibb joined from Merrill Lynch where he was previously head of FIG for Asia-Pacific as well as head of the financial sponsors group for the region. He was one of 12 new hires to join the German bank's global FIG team, all of whom came from Bank of America-Merrill Lynch. Deutsche has reportedly hired at least 25 senior bankers from weakened rivals globally since late last year. It is clear Deutsche Bank is building up in the region. Stay tuned to see how Rankin guides the business.

Sunday, April 5, 2009

Wild Rice - The importance of being earnest

Went to catch W!ld Rice's production of Oscar Wilde's comedic play The Importance of Being Earnest which featured an all-male cast, on Hui Ling's strong recommendation. I haven't read the play before so I am not sure if Wilde's original script contained a gay subtext. Anyhow, the set design and costume were gorgeous, acting was quite good, and the lines were very very clever. On the whole enjoyable and value for money. T'ang Quartet was playing live too and as usual , they were very very good.

Friday, April 3, 2009

My struggle to make sense of things


People who do not receive affirmation from others will not give affirmation. True? It’s kind of like “pay it forward” but in a negative sense. But I guess if you do not have something for a while, your mind makes adjustments and you learn to live without it. And if you can live without it, then it will no longer feature in your mind/life. That’s what we call being “desensitized”.

So you want affirmation? Give it to others first.
So you want to feel appreciated? Appreciate others first.

It’s so easy to slip into a negative mode, switch off, do something nasty or “act tough” towards people who display the same behavior. But maybe I can choose to resist the temptation to switch to such defensive modes. I can choose to be nice, choose to care about others around me even though they may not feel the same towards me. But I am inclined to believe that we are humans after all and that makes us feeling, emotional beings. We all need to feel appreciated, cared for and loved by people around us.

So if I adopt this strategy and keep at it, maybe I would get a different reaction/treatment soon enough.

Never forget simple wisdom

via my funny eye


用良好感觉来建构自己信心
Do something small, something you like. Positive feelings will accumulate and this will be building blocks for your self-confidence.

Simple wisdom from Lianhe Zaobao (Chinese newspaper)
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