What house are you building?

Building a solid house can only be done through reflection.
“Keep doing what you’re doing, and you’ll get what you are getting. If that is good, great. If it’s not, you better change.” – Ang Hui Ming

A FEW years ago, I heard about an elderly construction worker who wanted to quit. He told his boss of his plans to leave. His boss was sorry to see such an excellent worker go and asked him to build one last house as a personal favour.
The construction worker said yes, but his heart was not in his work. There was no passion left. He resorted to shoddy workmanship and used inferior materials, cutting corners to get the work done.

Finally, when the house was finished, his boss handed him the keys to the house saying, “This is your house. It’s my gift to you.” The construction worker was stunned and full of regret as he knew he was sloppy working on it. If he had only known he was building his own house, he would have done it all so differently.

Isn’t it the same with us? Often we work hard but after a point in time, we dish out less than stellar performances. Our attitudes differ but we console ourselves by saying it doesn’t matter. But in most cases, it does matter.

Each day, we build our lives, one transaction at a time. Each day counts as we build our life’s building. When I worked at General Electric (GE), people always spoke about the “house that Jack built.” Jack Welch, painstakingly, for more than 20 years, built the foundation of GE, then its rooms, its roof and finally completed a remarkable turnaround. This took patience, time and years.

When we don’t get the promotion we crave, or we fail to get what others get, we are surprised. Could it be because the house we built doesn’t have strong foundations or good materials? It’s not just last year’s performance or last week’s deal that counts – it is your cumulative effectiveness on a daily basis.

So, how does one ensure that you are effective daily? Based on our research, it requires an equilibrium of action and reflection. While most leaders are biased towards action, the best leader balances contemplation and action, creating daily solitude for effective action.

Ineffective leaders
Most leaders say the resource they lack most is time. But if you really observe managers for a day, you will see them rushing to meetings, constantly checking their Blackberry, dodging fires, believing they are attending to important matters.
For 10 years, Bruch and Ghoshal observed behaviours of busy managers, and their conclusions: 90% of managers squander their time in all sorts of ineffective actions and activities. A mere 10% of managers spend their time in a committed, purposeful, and reflective manner. These 10% are usually classified as great leaders.
Worst still, psychiatrist John Diamond found that 90% of people “hate their work.” They come to work to punch their time clock and can’t wait to go home. The difference between leaders who love their jobs and those that don’t – they take time daily to re-energise themselves and focus through reflection.

Reflection
The practice of reflection goes back centuries and is rooted in numerous institutions including the Japanese samurai. Ben Franklin, one of my leadership heroes, had a rather systematic approach to reflection, which was a fundamental part of his daily life. He developed a list of 13 virtues and each day he evaluated his leadership relative to these virtues.
A sincere examination of ourselves is never easy. It involves the willingness to face and acknowledge our mistakes, failure and shortcomings. Albert Schweitzer, Nobel Prize winner, believes reflection in life is critical to leadership as it allows you to take into “account what you have neglected in thoughtlessness.”
Interestingly, a key step in the Alcoholics Anonymous programme asks participants to make a probing and courageous moral inventory. Steve Jobs went to India to reflect prior to starting Apple.

In business, reflection provides an opportunity to consider the ramifications of the services they provide and how to keep raising the bar. Business grows when they look within.
So, what does one achieve by reflection and contemplation? Productive action relies on a combination of three traits:
1. Focus – the ability to zero in on an objective and see the task to completion
2. Energy – the vitality that comes from concentrated personal commitment.
3. Learning – the ability to correct past mistakes and improve oneself
Focus without energy results in lethargic execution or burnout. Energy without focus leads to aimlessness or artificial busyness. And not learning from your mistakes ensures you repeat them.

All three pieces can only be obtained through reflection. Procrastinators are usually people with low levels of energy and focus. Leaders with high focus but low energy never inspire and generally end up ostracising the troops. Managers with high energy but low focus confuse their employees with chaotic activity.
Reflective managers are purpose-driven with high energy levels, learning from their mistakes. They start their day in reflection to ensure purposeful execution and action.

Focus
Confucius once said, “A man who chases two rabbits catches neither!” In Star Wars Episode 1, Qui-Gon says to the young Jedi Anakin, “Always remember, your focus determines your reality.” There is an ounce of truth in that Jedi wisdom. A focused person usually attains his/her goals.

At the end of a tiring day, if we focus on how tired we are, generally we will remain tired and end up vegetating in front of the TV set. If we re-focus the mind from being tired to needing to be healthy, there is a bigger likelihood we will exercise.
It is easy to stray with all the distractions, TV, Internet and mobile devices that we have today. These distractions can lead us off-tangent, stealing our focusing power. Reflection corrects that.

Energy and passion
Reflection generates passion and energy. Energy comes from passion. Passion is self-generated as you can motivate yourself to be excited about what you do.
Author Bill Strickland writes: “Passions are irresistible. They’re the ideas, hopes, and possibilities your mind naturally gravitates to, the things you would focus your time and attention on.”

Strickland believes that only by following your passion will you unlock your deepest potential. “I never saw a meaningful life that wasn’t based on passion. And I never saw a life full of passion that wasn’t, in some important way, extraordinary.”

Learning from mistakes
Reflection allows us to learn from mistakes. We all make mistakes – I have done so spectacularly at times. We have all been in situations where things don’t go exactly to plan. But how often do we take the time to sit down to reflect on where it all went wrong?
Plato’s great words “know thyself” implies that a lifetime of self-investigation is the cornerstone for knowledge. John Dewey states, “We do not learn from experience, we learn from reflecting on experience.”
In fact, the Kolb Learning Cycle, is based on the belief that learning for real comprehension comes from a sequence of experience, reflection, abstraction, and action. All learning can come only through reflection.

Check your attitudes daily
Living an extraordinary life is done internally through the daily positive alignment of your attitude. Your attitudes and the choices you make today build the house you live in tomorrow. Build wisely! Build with commitment, pride, joy, love and passion.
Your attitude is contagious and sets the mood for those around you. Your employees get excited when you are excited. They are energised when you are.
Plato opened up The Academy in Athens at the age of 40, when life expectancy was 36. He ran this first university, training Aristotle and others, until he was 80. Pursuing focused positive dreams arms one with high energy and leads to an extended, rewarding life.

I don’t have time to think!
This is a pretty common reaction: I don’t have time to reflect.
Which begs the question: Do you have time to make the same mistakes over and over again? Or to remain unfocused, running around like a headless chicken? Or lack energy to fulfil your dreams?

I remember an old boss once told me that I was not paid to sit around and think. On hindsight, that was probably the worst advice I received. Leaders should spend at least a quarter of their time thinking about the future of their company and reflecting on the past. It may seem ludicrous to spend time reflecting but “real work” can only be done right when you know where you are going and have the energy to get there.

Final thoughts
If we could do things over, we probably would do many things differently. And better. But the problem is, we cannot go back. We are just like the construction worker. Each day we hammer a nail, place a board, or erect a wall in our career, family and lives. Are you doing it with focus and energy? Are we improving ourselves by learning from our mistakes?
If the fire in our eyes has diminished and we are going through life in auto-pilot, with the joy of life seemingly leaked out, it is time to take stock of life and reflect.
Socrates, Ben Franklin and most great leaders believed that reflection led to a productive and fulfilling life. And don’t say you don’t have time. After all, as Buddha aptly puts it, “All that we are is the result of what we have thought.”

CEOs need to lead by example

Leading the way in good corporate behaviour is a top mangement challenge. At the recent StarBiz-ICR Malaysia CR Exchange – a forum on CR In the Workplace: Issues & Best Practices – past winner Guinness Anchor Bhd human resources director R. Sujitha Rajaratnam and finalist Lafarge Malayan Cement Bhd president and CEO Bi Yong Chungunco – both in the workplace category – shared their views and strategies on how to ensure a sustainable CR programme. Leaderonomics founder and CEO Roshan Thiran also shared his insights on the importance of a long-term CR plan. The forum was held in conjunction with the StarBiz-ICR Malaysia Corporate Responsibility Awards 2010.

CEOs and top executives must be seen to practise the corporate responsibility (CR) initiatives implemented by their companies, if they expect their employees to take those measures seriously.

“Top management must walk the talk and practise what they preach in the CR initiatives implemented by their companies.
“If top management does not practise the CR initiatives as set out, can they really expect their employees to follow?” Leaderonomics founder and CEO Roshan Thiran said.
Roshan, who was a guest speaker at the StarBiz-ICR Malaysia CR Exchange last Monday, observed that there were a number of local companies (listed and unlisted), including those at top management that do not fully appreciate the CR agenda and the benefits derived from good CR initiatives.

Lafarge Malayan Cement Bhd president and CEO Bi Yong Chungunco
“CR today is beyond philanthropy and charity work. It is, in fact, a critical element in the development of a sustainable business model to enable companies to remain competitive globally,” he told StarBiz.

Roshan said CR encompassed many factors ranging from initiatives taken to retain and attract talent, appropriate and sustainable raw material sourcing as well as having a “social mission” in business.
He said companies must not only have a profit mission but also a social mission that involves giving back to the community.

Roshan predicted that in 20 to 30 years, all businesses would need to have a social mission to remain competitive and profitable.
He said: “Organisations that don’t have a social mission will not be around long-term, as CR creates shareholder value and makes business sense.”

He cited several companies, including AirAsia Bhd and General Electric Co, as exemplary companies that had a social mission imbued in their businesses, beyond being profitable.
“AirAsia’s famous tagline “Now everyone can fly” underscores the airline’s mission to open up opportunities for air travel to more people globally,” Roshan noted .

In the case of General Electric, he said the company had a strong commitment to engage the communities with programmes such as “ecomagination challenge” while PepsiCo Inc, a soft-drink manufacturer, had now moved towards providing more health-based drinks.
Roshan said successful companies with good CR were able to attract talent and also to get the community’s trust and support. This is a win-win situation as when communities thrive businesses will also thrive,” he said.

Not marketing gimmicks
Roshan said some people might view such CR exercises as marketing gimmicks but the top management of companies, especially those in leadership position, must believe in it (that CR initiatives provide tangible long-term benefits) and take proactive steps to resolve issues, even if short-term losses occur in their businesses.
He said CR should be led by those at the top and they must also learn to be more engaging with employees.

“Senior management must be seen to not only talk about CR but must actively take part in such initiatives to show colleagues of their commitment to the CR cause,” he added.
Lafarge Malayan Cement Bhd president and CEO Bi Yong Chungunco, another guest speaker at the forum, said an area in which Lafarge had promoted CR in the workplace was through the health and safety aspects.
She said logistics safety was an important area for Lafarge as the company transported almost all cement sold in the peninsula.

“We believe companies cannot achieve “excellence in business if they cannot achieve excellence in safety. This is why the safety and health aspect are emphasised in Lafarge,” Chungunco said.
She added: “Lafarge conducts health and safety engagement every year where we revisit and re-state the policy and commit ourselves by signing the policy in every country where we are present.”

Chungunco said Lafarge involved the spouses of employees, who were mainly male truck drivers, to appeal to their sense of responsibility on the road, where they were often driving alone.
“We ask the wives to tell their husbands to come home safe, that their families need them. In fact, we make them hold hands at our Transporters’ Safety Day and make that a commitment,” she said.

Other CR commitments include provision of reflector safety belts and GPS systems in the trucks to better monitor the drivers.
Lafarge Malayan Cement was a finalist in the StarBiz-ICR Malaysia awards in 2008 and 2009 under the workplace category.

Guinness Anchor Bhd (GAB) human resources director R. Sujitha Rajaratnam emphasised how the company engaged employees by giving them opportunities to reach their full potential.
“Each employee will have a career development plan encompassing training and development aimed at encouraging and enabling their growth,” she said.
Other initiatives in GAB, a StarBiz-ICR Malaysia award winner in 2010 under the workplace category, included a responsible drinking policy and healthy living.
The company encourages a work-life balance where flexi-time is practised, with a “home early” programme in the pipeline.


The investment in GAB employees is paying off. “We’ve delivered nine consecutive years of growth in revenue, profit and market share,” she said.

April Special

April was the second month in an early Roman calendar, but became the fourth when the ancient Romans started using January as the first month. The Romans called the month Aprilis. It may come from a word meanting 'to open', or it may come from Aphrodite, the Greek name for the goddess of love.
Small animals that hibernate are usually coming out of their burrows in April. The birds fly back northward or they settle down to have their families. The bees and butterflies begin to gather nectar from the first flowers of the season.
In some parts of the world, it's planting time. In other parts, it's the harvest season. Professional baseball begins in April. Then the amateur athletes begin to go outside in the warm weather. Spring cleaning starts and people start mowing their yards again.
Special days celebrated in April begin with the first day of April, when children and grown-ups play jokes on one another on Aprill Fools.

Month of April always close to my heart ..since it carry mine ,my wife and my elder son birthday. This year it means a lot since I join Maybank Berhad as Business Analyst on IT Transformation Programmed on 19 April 2011.

Happy Birthday Fawwaz

Happy Birthday Sherry

God Bless u

You’re in Charge

You’ve earned your first leadership role in project management—but do you have what it takes to be the in charge?

Ah, the thrill of a big promotion.

You’ve proven your project management prowess and now you’ve been rewarded with your first role in charge. But as the rookie in command, you need to define your role.

And that often means leaving the nitty-gritty minutiae behind. When tech giant Google researched what traits make for a better boss in 2009, it discovered technical expertise was far less important than accessibility.

“New leaders really need to be the manager of the project. They can’t continue to work as if they are still working on the technical side of the project,” says Roberta Chinsky Matuson, author of “Suddenly In Charge: Managing Up, Managing Down, Succeeding All Around.”

Right from the start, you need to position yourself as the supervisor, she explains. “Have conversations with the team about what your expectations are. This is your job now — you need to start acting like it.”

New leaders must establish what kind of authority they actually have and what their stakeholders expect from them, says Thomas Juli, PhD, PMP, founder of Thomas Juli Empowerment Partners, Heidelberg, Germany.

Then they can figure out what motivates their new team and build up a rapport, he says. “What makes the team work for you, with you and against you? You need your team. You can’t do this by yourself.”

In many cases, though, your new team members were your peers not so long ago. So, how can you earn their respect?

If a team member doesn’t fulfill his or her responsibilities, you must address the issue. “Doing nothing will mean you lose respect,” says Ms. Matuson, also president of Human Resource Solutions, Northampton, Massachusetts, USA.

The same can be said when someone goes above and beyond to get the job done. Acknowledging the effort will show team members you appreciate them, she says.

“New leaders don’t always realize that if their people shine, they shine,” Ms. Matuson adds. “You are being evaluated on how well your people do.”

And new or not, the supervisor sets the tone. The Google research revealed that the company’s managers had a much greater impact on employee performance and how people felt about their jobs than any other factor.

As you settle into your role, try to keep your ultimate goal as a project manager top of mind. “Never forget what you are measured against: managing a project to success,” says Dr. Juli, also author of “Leadership Principles for Project Success.”

Being a leader doesn’t come naturally for many project managers. Seek out mentors to help guide the way. Also ask your boss and even some team members to evaluate your performance. “It’s just another way of learning,” Dr. Juli says.

Ultimately, project managers in new leadership roles must acknowledge that not everything will be perfect.

“Expect to make mistakes — and learn from them,” says Dr. Juli. “Don’t try to apply everything you know at once, it’s not necessary. We are project managers, not superheroes.”

Figuring out exactly what you’re doing in your new role in charge can be the most daunting part of your career transition. But armed with the right knowledge, your new responsibilities will eventually fall into place.

PMI

You’re in Charge

You’ve earned your first leadership role in project management—but do you have what it takes to be the in charge?

Ah, the thrill of a big promotion.
You’ve proven your project management prowess and now you’ve been rewarded with your first role in charge. But as the rookie in command, you need to define your role.
And that often means leaving the nitty-gritty minutiae behind. When tech giant Google researched what traits make for a better boss in 2009, it discovered technical expertise was far less important than accessibility.
“New leaders really need to be the manager of the project. They can’t continue to work as if they are still working on the technical side of the project,” says Roberta Chinsky Matuson, author of “Suddenly In Charge: Managing Up, Managing Down, Succeeding All Around.”
Right from the start, you need to position yourself as the supervisor, she explains. “Have conversations with the team about what your expectations are. This is your job now — you need to start acting like it.”
New leaders must establish what kind of authority they actually have and what their stakeholders expect from them, says Thomas Juli, PhD, PMP, founder of Thomas Juli Empowerment Partners, Heidelberg, Germany.
Then they can figure out what motivates their new team and build up a rapport, he says. “What makes the team work for you, with you and against you? You need your team. You can’t do this by yourself.”
In many cases, though, your new team members were your peers not so long ago. So, how can you earn their respect?
If a team member doesn’t fulfill his or her responsibilities, you must address the issue. “Doing nothing will mean you lose respect,” says Ms. Matuson, also president of Human Resource Solutions, Northampton, Massachusetts, USA.
The same can be said when someone goes above and beyond to get the job done. Acknowledging the effort will show team members you appreciate them, she says.
“New leaders don’t always realize that if their people shine, they shine,” Ms. Matuson adds. “You are being evaluated on how well your people do.”
And new or not, the supervisor sets the tone. The Google research revealed that the company’s managers had a much greater impact on employee performance and how people felt about their jobs than any other factor.
As you settle into your role, try to keep your ultimate goal as a project manager top of mind. “Never forget what you are measured against: managing a project to success,” says Dr. Juli, also author of “Leadership Principles for Project Success.”
Being a leader doesn’t come naturally for many project managers. Seek out mentors to help guide the way. Also ask your boss and even some team members to evaluate your performance. “It’s just another way of learning,” Dr. Juli says.
Ultimately, project managers in new leadership roles must acknowledge that not everything will be perfect.
“Expect to make mistakes — and learn from them,” says Dr. Juli. “Don’t try to apply everything you know at once, it’s not necessary. We are project managers, not superheroes.”
Figuring out exactly what you’re doing in your new role in charge can be the most daunting part of your career transition. But armed with the right knowledge, your new responsibilities will eventually fall into place.
PMI

Firms must engage more with employees

Corporations large and small, which wish to succeed in the years ahead, will have to engage more with their employees and the community around them as part of efforts to develop their presence beyond just profits.

Speakers at the StarBiz ICRM Corporate Responsibility Awards 2010, who presented a dialogue at Menara Star yesterday on CR in the Workplace: Issues & Best Practice, said engaging with employees included cultivating their talent, making sure the workplace was safe and healthy as well as encouraging work-life balance.

Leaderonomics Sdn Bhd founder and chief executive officer (CEO) Roshan Thiran said companies needed to have a social purpose in order to attract or retain talent, especially among younger employees.

Star Publications (M) Bhd, the publisher of The Star, has a 51% stake in Leaderonomics.

From left: Bi Yong Chungunco, Star Publications group MD and CEO Datin Linda Ngiam, R. Sujitha Rajaratnam, Price WaterhouseCoopers senior executive director Chin Suit Fang and Roshan Thiran at the StarBiz-ICR Malaysia CR Exchange on Tuesday.

“Organisations that don't have a social mission will not be around long-term, as corporate responsibility (CR) creates shareholder value and makes business sense,” Roshan said.

He said examples of companies which have integrated their businesses with this “social mission” were AirAsia Bhd, whose tagline of “Now everyone can fly” underscored the company's mission of opening up opportunities for air travel to more people.

Roshan pointed out that other firms which have made commitments to engage with the communities around them included the General Electric Co with their “ecomagination challenge” and PepsiCo Inc, a maker of soft-drinks now moving towards providing more health-based drinks.

“Companies that want to win need to start engaging with the communities around them, this is a win-win situation as when communities thrive then businesses will also thrive,” he added.

Roshan said many might view such corporate exercises as marketing gimmicks but the companies' leadership must believe it and be seen taking proactive steps, even if it meant short-term losses for the businesses.

Predicting that in 20 to 30 years all businesses would have a “social mission” with a profit motive for sustainability, he said senior management must be seen to not only talk about CR but must be seen to actively take part in it to show colleagues of their commitment. Roshan predicted that over the next 20 to 30 years, all businesses would be social business with a profit.

Meanwhile, Lafarge Malayan Cement Bhd president and CEO Bi Yong Chungunco said one area in which the company promoted CR in the workplace was via the health and safety aspects. She said logistics safety was one area of importance for Lafarge as the company transported almost all the cement it sold in the peninsula with the mileage for one year equivalent to rounding the globe three times.

Chungunco believed companies cannot achieve “excellence in business if they cannot achieve excellence in safety”.

This was the reason why the safety and health aspect was emphasised by Lafarge. “We've a health and safety engagement every year where we revisit and re-state the policy and commit ourselves by signing that policy in every country where we've a presence,” she said.

Chungunco said the company used the spouses of the predominantly male truck drivers to appeal to their sense of responsibility on the road, where they were often driving alone.

“We ask the wives to tell their husbands to come home safe, that their families needed them, in fact we make them hold hands at our Transporters' Safety Day and make that commitment,” she said.

Besides this commitment, Chungunco said the company has equipped reflector safety belts as well as GPS systems in the trucks in order to better monitor the drivers.

Fellow speaker Guinness Anchor Bhd human resources director R. Sujitha Rajaratnam emphasised how the company engaged employees by giving them opportunities to reach their full potential.

Describing it as part of the company's human resources vision, she said “each employee will have a career development plan encompassing training and development, to encourage and enable their growth”.

Other initiatives included a responsible drinking policy, healthy living and encouraging work-life balance where the company practiced flexi-time which in future would also include a “home early” programme.

Sujitha said the investment in people was paying off. “We've delivered nine consecutive years of growth in revenue, profit and market share,” she added.

PMI Project Management Methodology for Post Disaster Reconstruction

Disasters and crises are, by nature, accompanied by uncertainty. The list of reconstruction priorities is longer than one person can tackle alone without support.

Leadership and the ability to envision solutions are essential to managing projects of all types. But what is also essential is the means to practice the established principles of project management in order to achieve a successful outcome.

To address this, PMI has developed Project Management Methodology for Post Disaster Reconstruction, aimed at those in the disaster recovery field who are providing the kind of leadership and clarity of thought needed to help in the reconstruction effort.

Project management and its related processes are the keys to staying organized and focused, and to accomplishing the solutions a community needs after being hit by a disaster. Reconstruction project management is about solving problems and delivering intended results through an organized, structured methodology.

PMI’s Project Management Methodology was developed for global application by relief agencies, non-governmental organizations (NGOs) and/or governments following a major disaster. It is based on A Guide to the Project Management Body of Knowledge (PMBOK^® Guide)–Third Edition, and is meant to enhance collaboration and consistency, as well as quality and accountability, of projects undertaken in a crisis/disaster rebuild environment.

In the simplest terms possible the Project Management Methodology for Post Disaster Reconstruction provides an approach that, if followed, will deliver results.

To download a zip file containing the Project Management Methodology, which includes instructor, participant and classroom documents, presentations and worksheets, complete the following fields below.

TS

10 questions with Datuk Dr Mahani Zainal Abidin

Datuk Dr Mahani Zainal Abidin fields the 10 questions posed by our readers.

1. As an economist, which school of thought influences you most? Melissa York, KL

The economic principle that influences me the most as an economist is the concept of comparative advantage. Based on this, countries should concentrate on producing and exporting goods which they are more effective or efficient at that is the ones in which they have a “comparative advantage”. Conversely they should not try to make goods locally if other countries can make them better, and should instead import them. For the principle of comparative advantage to take full effect, there should be free trade. Over the last half century, free trade has expanded, in line with globalisation, and many economies have grown using this principle and are able to provide their citizens a better standard of living. Malaysia is one of them. However, progressive countries do not just depend on a legacy of comparative advantage such as natural resources; they create a competitive advantage. Dubai, for example, has created a niche as a regional hub for finance, transport and business by investing in infrastructure and importing workers.

2. I'm thinking of joining an investment bank as an economist, but was told that it can get quite boring. What's it like to be an economist? Manjit, PJ

The training of an economist enables him or her to assess a wide range of information, and report how it may affect an industry, a country, a region or any given set of stakeholders. The information will certainly contain numerical measures of value and rates of change, but often there are other very relevant qualitative inputs, such as legislation, opinions and social factors. That, for me, is what makes economics interesting as it delivers a fully rounded analysis of real use to guide companies, administrators and. lawmakers. For sure there is a lot of real practical advice that an economist can give an investment bank, such as how certain sectors of the economy will fare in future, what are the risks and opportunities. You will be at the forefront of decision-making and that is never boring.

3. People say the worst is over. But we still hear of problems coming from the United States and euro-zone economy. When will they recover and what do they mean to us? Ahmad Jalil, Penang

It is difficult to predict exactly when the global economy will recover. In any case, some sectors and countries will recover faster than others. The problem is that the world economy faces a number of systemic problems global imbalances, growth-based consumption, unrestrained financial liberalisation and unfettered capital flows. Global leaders are still unable to agree on how to solve them. However, all agree that the challenges will be more tractable if growth returns. We expect robust growth in China, India and other emerging countries to compensate for slow US recovery and the euro-zone sovereign debt overhang. As we are an open economy, Malaysia needs a healthy global economy to buy our exports. If not, we have to deploy more of our own resources to stimulate our economy. We are also likely to be affected by the response measures taken by other countries changes in global or regional interest rates and monetary policy may impact capital flows into or out of Malaysia, the ringgit exchange rate or Bursa Malaysia.

4. Which is more detrimental to an economy: inflation and recession? Why? Tabitha CC Boi, Penang

I am quite sure that an economy in recession is a worse place to be than one with inflation. In a recession prices fall, and that is good news (unless you are a producer) but the worst thing about a recession is that there are less jobs and weak demand so nobody can afford to buy goods or services. There will be excess capacity and nobody wants to invest because prices continue to decline. Getting out of a recession has proved in the past to be quite difficult. Usually the government will try to revive the economy by increasing public spending but since demand is weak, there may be no takers the so-called liquidity trap. On the other hand, a low level of inflation is quite tolerable and some think it essential for economic growth. If you mean excessive inflation, that is for sure very painful, but governments have learnt how to recognize when an economy is overheating and in danger of high inflation and have developed effective antidotes.

5. What would you consider to be the biggest failure in life? How did you get back on your feet? Susan Ang, Johor

In life there are many challenges I would not call them failures. I believe when a door closes, another one opens, because Allah SWT is most compassionate. It is then up to us to make the best of this new path. The future is not known to us, so the door that closed may not have been all that we expected of it, and the new path is in any case our rezeki.

6. How do you usually relax and unwind after work? Johan Ku, Malacca

Gardening, listening to music and having a massage (spa) help me to relax. I get great satisfaction when my plants grow well and I love the beautiful colours of flowers. Of course, music soothes tensions and likewise a good massage relieves the aches and pains.

7. Does Malaysia still have to depend on foreign direct investments to generate growth? Why and how best can we arrest the decline of Malaysia's appeal to foreign investors? Mat Salleh, PJ

We should continue to welcome foreign direct investment for the same reason that we have always welcomed it FDI provides economic activities and jobs. Most FDI has the additional attraction of new technology, expanding production networks and growing export markets. Other countries in the region and elsewhere are now much tougher competitors for FDI and can also provide many of the things that Malaysia has long offered. To continue to attract and sustain FDI, we have to add to the value proposition with skilled, productive and committed workers, a business friendly environment, clear and consistent rules and regulations, security, safety and no corruption.

8. In your opinion, how have the values of Malaysian youths changed over the last three decades? How will that affect our economy? Balasundram, Klang

The next generation will experience much faster and deeper economic changes than ever before. Global economic events will reach far beyond national boundaries and the next generation will have to learn, and unlearn and relearn many things in the course of their lives. Malaysian youths are now more aware of the need to preserve the environment, that talent is mobile and that financial facilities are available and tempting. They also have higher consumption needs. Technology, especially ICT, access to information and networking is a big part of their lives. These traits will shape the future of the Malaysian economy. For example, in the future, most economic transactions will be done on-line and credit cards or debit cards will almost totally replace cheques.

9. What would be the most glorious moment you've had in your career and why? Suzy H, Taiping

I found great satisfaction when in 1998, I joined the Working Group of the National Economic Action Council (NEAC), which was set up to respond to the Asian economic crisis. Prior to that I was an economics lecturer in Universiti Malaya. At the NEAC, I had a close up and personal view of the economic management of the country. Malaysia's response went against the conventional wisdom, and we were in a way rewriting the rules of how to manage a crisis. That was a unique experience and I am thankful for being given the opportunity.

10. Definitely much effort has been put into drafting the new economic model and economic transformation plan. What would be the biggest internal risk and external risk that could derail such grand plans that we have? Eugene Khoo, KL

The New Economic Model will achieve its goals if its strategies and policies are implemented effectively and if the rakyat are prepared to make changes. Private investments have to take a lead in generating economic activities. Structuring of subsidies and putting in a price system that reflects the true value of resources will mean adjustments to our economic activities. I also hope the transformation of our education system will produce the human capital required. The world economy will have its ups and downs and I hope we can manage these fluctuations well. The gains we make should also be benchmarked with other countries because many of our competitors are progressing faster than us.

TS

Hoping for the new in 2011

Expect more of the same as we enter a new year and new decade.

IT’S the start of a new year. It brings hope, changes and renewal. Yet many things would remain very much the same as it always has in decades, especially in politics.

The same language, same promises and lies are still being voiced by our leaders, regardless of their political affiliation. How we wish they could be more creative this year.

Ironically, many of the politicians calling for change in politics have in fact been in the game for the last 20 years or more. But some have cleverly changed their agendas to suit the current demand for transparency and such.

Same old tune: It’s the new year but we can expect more of the same from our politicians, celebrities and other publicity seekers, whether they are platitudes, promises or excuses. — SHAARI CHEMAT/The Star

And they have found a whole new base of supporters among those whose parents were busy changing their nappies while these same politicians were making a mess of the country.

Then there are those who are still in government, after all these years, some clinging on to their positions believing that no one else can be as good. Some are still as arrogant as ever, still refusing to learn their lessons.

So what can we expect from our politicians, celebrities and other publicity seekers for this year? I guess it will be more of the same, whether they are platitudes, promises or excuses.

Here’s a list of the more banal statements and remarks:

> Officials after yet another horrific bus accident: “We will investigate thoroughly. We will take the necessary actions. We will not compromise.”

> The Opposition after an accident, natural disaster or controversial political issue: “We call for a Royal Commission of Inquiry (or a White Paper or an Inquest).”

> Officials after our country is criticised – on any issue – by foreigners: “They are just jealous of us. They are upset with our achievements.”

> Nationalists and “language supremacists” on reports of our declining standard in English: “We are better than Indonesia, Thailand, Cambodia and Myanmar.”

> Local actors after talk of romantic link-ups: “We are just friends” or “I am just a good friend of the Datuk/Tengku.”

> Over-the-hill politicians who refuse to retire: “It will be irresponsible for me to leave the party. I need time to groom my successors.”

> Protesters who take part in illegal demonstrations: “The police acted illegally. They over-reacted, they should not have used force to break us up.”

> Police officers at press conferences: “We will leave no stone unturned in our investigations. We will go after them.”

> Police officers on foreigners arrested for crime, and the readers are kept guessing on the nationality of these criminals: “They are from a neighbouring country.” (Hello! Singa­poreans, Thais or Indonesians?)

> Politicians who refuse to commit themselves to anything: “We will look into it.”

> Leaders who use delaying tactics after a controversial issue, and eventually do nothing: “We will set up a committee and other sub-committees to study the matter.”

> Opposition leaders following a controversial issue: “We challenge them to a debate.”

> The Prime Minister/Chief Minister on the date for elections: “I haven’t found inspiration” and “If you (media) continue guessing, you will get it right one day.”

> Opposition politicians before the polls: “This is the dirtiest election ever, we detect phantom voters and frauds” and after emerging victorious: “We accept the election results.”

> Government politicians before the polls: “The people want development and not rhetoric” and after their defeats: “The people must learn to be grateful. They have been hoodwinked by the opposition.”

> University officials on their goals but still not on the top universities lists: “We want to be world class universities with world class facilities.”

> Religious leaders, New Age practitioners and doomsday believers: “The world is coming to an end. All the signs are there.”

> And finally, boring copies by journalists who begin their stories with sentences “like a scene from a movie” or “had the shock of his life” and “selling like hot cakes.”

Nothing much has changed, right?

On The Beat By Wong Chun Wai

Top reads for top people

BOOKS, when chosen carefully, can make great gifts. They enrich, open up closed minds and immerse the reader in another world other than his own. But before books can please, there must be a pleasure found in reading.

All of us have that privilege; it is only whether we want to make time to nurture it. Because reading takes up so much time, it tends to compete with other seemingly more interesting pursuits.

Depending on style, language and other dynamics, there will be certain titles and authors who will appeal to us. The onus is on us to find the time to sate that need within us, for he who reads is richer for it.

In the season’s spirit of giving, here is a selection of hardcover books, suggested by three leading bookstores, for the person at the helm in mind. A couple of them, like Tiffany Pearls, are chosen with the women CEO in mind. The majority of them will appeal to both men and women.

Some titles will take time to chew like David A Lax and James K Sebenius’ 3-D Negotiations. Others titillate and tickle like Shoes. Andy Grove’s biography inspires, while Oprah’s Live Your Best Life leaves little gems along life’s sometimes weary way, when there is only time to browse.

KINOKUNIYA'S SELECTION

Andy Grove by Richard S. Tedlow, RM109.90 (ISBN 1591841399)

Harvard professor and historian Tedlow gives a close-up portrait of Andy Grove. Grove rose from being a penniless Hungarian refugee to an engineer hired as Intel’s third employee, eventually heading one of the most profitable companies in history. A year-by-year account of Intel’s history, punctuated by Grove's musings, drawn from his private notebooks. A primer on Grove’s writings and management philosophy and why his tenure as Intel CEO was so successful despite his personal ups and downs and his fight with cancer.

The Way of the Shark: Lessons on Golf, Business and Life by Greg Norman, RM119.90 (ISBN 0743287746)

In the 1980s and 1990s, Australia's Greg Norman ranked as the world's top golfer for six consecutive years. Despite that, the linksman nicknamed the Great White Shark is perhaps best remembered for some of his final-round heartbreaks in major tournaments. Even after those setbacks, Norman laughed all the way to the bank. His endorsements and investments have made him one of the richest men in the history of sports. The free-swinging star explains his best game tips on and off the course.

Dynasties, by David Landes, RM103.54 (ISBN 0670033383)

Award-winning historian David Landes scrutinises powerful family businesses in Europe, Japan and the US to determine the factors that can cause a dynasty to flourish or fail. He provides fascinating insights into business legends, like John D. Rockefeller and Henry Ford. The life stories of these remarkable individuals contain all the drama and passion expected when extraordinary money, power and kinship interconnect, and are essential reading for anyone with an interest in business and world history.

China Shakes the World, by James Kynge, RM98.03 (ISBN 0618705643)

A journalist in Asia for two decades, Kynge was the China bureau chief of Financial Times until 2005. Drawing on his years in the country and his fluency in Mandarin, he probes beyond the familiar statistics to unearth the surprising reasons for China's explosive growth. He sounds the alarm as China's systemic weaknesses threaten greater global disruptions. Kynge traces the tremors from Beijing to Tuscany to the Midwest as China’s hunger for jobs, raw materials, energy, and food, and its export of goods, workers, and investments drastically reshape world trade and politics.

Alwaleed: Businessman, Billionaire and Prince by Riz Khan, RM106.50 (ISBN 0060850302)

Though Prince Alwaleed bin Talal came to public attention in the US when Rudy Giuliani rejected his US$10mil donation to the Twin Towers fund, Alwaleed's real significance is as a global financial powerbroker. The Saudi royal is the biggest single foreign investor in the US economy and the world’s fourth-richest man. Khan, who has interviewed high-profile figures for CNN International, tags along with Alwaleed and his entourage as they conduct business in Riyadh and Paris, holiday in Cannes and trek into the Saudi desert for a weekend getaway. The resulting reportage has the breezy flavour of a magazine profile awkwardly stretched to book length.

Ideaspotting by Sam Harrison, RM59.30 (ISBN 1581808003)

There is nothing like great ideas. But where do they come from? Harrison, through anecdotes, interviews, quotes, tips and success stories from the biggest corporations in the country, shows you how to think outside the box – then throw away the box, for good. You are encouraged to listen and observe, explore through travel, leave your daily routine and look for ideas from nature. A book for desperate people.

Tiffany Pearls by John Loring, RM196.07 (ISBN 0810954435)

Symbols of perfection, pearls are the most classic of gems, bringing an air of elegance and sophistication to the women who wear them. No name in fine jewellery says “classic” more than Tiffany & Co., and the venerable institution’s long-time design director traces the dazzling history of pearl jewellery at Tiffany, from the mid-19th century to the present, including fascinating accounts of many of the world’s most famous pearls since the Renaissance.

Shoes: A History from Sandals to Sneakers, RM189.83 (ISBN 1845204433)

Shoes are now much more than just things to walk in. They say something about you. But, beyond style, this most object communicates much more – our aesthetic sense, social status and personality. Before they became objects of desire, shoes had a history. From ancient times to the present, shoes have had a cultural as well as a practical purpose. Within these pages is pretty much everything you ever wanted to know about shoes. War, sex and the high heel, the irresistible rise of the sneaker, and the cult of shoe designers are all found within these pages.

BORDER'S SELECTION

Trump 101: The Way To Success by Donald J. Trump & Meredith Mclver, RM63.80 (ISBN: 0470047100)

A collection of hard-charging pep talks, inspiration and advice from the world’s most famous businessman. Trump explains 33 success principles that got him where he is today. With a detailed account of a week in Trump’s high-flying life, and a list of 10 books he recommends you read, Trump 101 is a bible for success in business and life.

The Starbucks Experience by Joseph Michelli, RM87.80 (ISBN: 0071477845)

Michelli interviews Starbuck’s leadership and pinpoints five principles driving the chain’s success: Make it your own, constantly look for ways to add customers, increase efficiency, sell more to existing customers, and generate breakthrough products and service. A rich mix of ideas for businesses that want to learn about Starbucks’ phenomenal vision, creativity, and leadership within their company and in their field.

3-D Negotiation by David A Lax and James K Sebenius, RM119.80 (ISBN: 1591397995)

This book adds depth and complexity to our understanding and practical approach to negotiations. The 3-D perspective focuses on the surface process and the hidden, potential value to be unlocked with skillful “deal-design.”

Jeremy Oliver The Australian Wine Annual 2007, RM58.40 (ISBN: 0958103259)

Australia’s most influential wine writer releases the latest edition of his best-selling guide to Australian wine. This title goes through the best and best-selling Australian wines, maker by maker, vintage by vintage, offering a huge amount of easily understood information at a glance. It includes a full-colour image of each wine label, what is happening with each winery, its most important details and reviews of current wines.

The Culture Code by Clotaire Rapaille, RM99.90 (ISBN: 0767920562)

Cultural anthropologist Rapaille reveals techniques he uses to improve profitability and practices for Fortune 100 companies. He sheds light on how business and every human being acts and lives. His notion is that we acquire a silent system of codes as we grow up within our culture. It is these codes that make an American an American and a German, German.

Blue Ocean Strategy by W Chan Kim and Renee Mauborgne, RM119.80 (ISBN: 1591396190)

Kim and Mauborgne suggest that the only way for tomorrow’s companies to move ahead will be to make competitors irrelevant. The duo highlight six principles – how to reconstruct market boundaries, focus on the big picture, reach beyond existing demand, get the strategic sequence right, overcome organisational hurdles and turn execution into strategy.

Live Your Best Life from O, The Oprah Magazine, RM119.90 (ISBN: 0848731050)

A goodie bag for everyone whenever you want inspiration, advice, a shot of comic relief or to pop a confidence pill. Divided into three sections. Your Personal Best is about getting you into shape, to be happier, healthier, fitter and thinner. Relationships takes you from meeting your match to dealing with his annoying habits and Living in the World includes conversations with celebrities, politicians and activists.

Fifty Places to Play Golf Before You Die by Chris Santella, RM99.90 (ISBN: 1584794747)

Santella interviews 50 golfers about their favourite courses around the world. From Ballyiffin, Ireland’s northernmost course, to New Zealand’s Cape Kidnappers, photographs capture the histories and ambience of the different venues for one of the world’s most popular sports.

MPH'S SELECTION

Tough Choices by Carly Fiorina, RM80 (ISBN 1857883918)

Fiorina, the former Hewlett-Packard CEO, writes with brutal honesty about her triumphs and failures, her fears and painful confrontations, including her sudden and public firing by HP’s board of directors.

Mavericks At Work: Why The Most Original Minds In Business Win by William C. Taylor & Polly LaBarre, RM89.90 (ISBN 0007244088)

Unconventional ideas and groundbreaking strategies can become your business plan for the 21st century. In an age of hyper-competition and non-stop innovation, the only way to stand out from the crowd is to be original. This book will help you think bigger, aim higher, and win more decisively.

The Leader's Guide To Storytelling by Stephen Denning, RM79.80 (ISBN 078797675 X)

The role of storytelling in a meeting is among the most important leadership challenges today. It motivates others to act, builds trust and helps to transmit one’s values in a non-aggressive way. Denning offers a detailed account of why and how each type of story works, with examples from business settings.

The Business Of Changing The World by Marc Benioff & Carlye Adler, RM111.80 (ISBN 0071481516)

When Benioff founded salesforce.com, his vision was to change the model for philanthropic giving. Along with 19 other leaders, he shares how giving back to the community creates a win-win situation for both businesses and the public.

Break From The Pack: How To Compete In A Copycat Economy by Oren Harari, RM79.00 (ISBN 0131888633)

Everywhere, products are being commoditised, services are being imitated, and traditional barriers to market entry are collapsing. In today’s Copycat Economy, companies must break from the pack. Harari identifies 10 common mistakes that keep companies trapped in the pack and six strategies that will propel your organisation forward.

Ocean, RM204 (ISBN 1405312920)

Explore the last wilderness left on Earth. From the geology of the sea floor and the interaction between the oceans and atmosphere to the extraordinary diversity of marine life, the ocean is a fragile resource for man. A beautiful visual essay celebrates the drama of the sea, while illustrations and the satellite-derived maps explain and illuminate each natural process and phenomenon.

IWoz: Computer Geek to Cult Icon – Getting to the Core of Apple’s Inventor by Steve Wozniak with Gina Smith, RM72.50 (ISBN 0755314077)

A memoir of cult icon Steve Wozniak, the Apple co-founder and inventor, and how he changed the face of the computing industry.

Fred Factor: How passion in your work and life can turn the ordinary into the extraordinary by Mark Sanborn, RM35.90 (ISBN 184413816 X)

This is not a new book but its message is timeless. Motivational speaker Sanborn recounts the true story of Fred, the mail carrier who loves his job and who cares about the people he serves. Because of that, he is constantly going the extra mile in handling the mail of the people on his route. Where others might see delivering mail as monotonous drudgery, Fred sees an opportunity to make a difference in the lives of those he serves. Sanborn illuminates the simple steps each of us can take to transform our own lives from the ordinary into the extraordinary.

Cars by Enzo Rizzo, RM84.70 (ISBN 88 544 01722)

From classic to dream cars, sports to luxury wheels, this compendium features the finest luxury cars produced by Aston Martin, Alfa Romeo, Lamborghini, Lancia, Bentley, Triumph and Jaguar.

Masterpieces of Modern Architecture, RM193.45 (ISBN 8854401455)

Architecture is probably the most tangible reflection of the transformation affecting human societies. This book examines the new trends in architecture from the end of WWII to the beginning of the new millennium, highlighting new modernity, from gargantuan structures and hi-tech to postmodernism and minimalism.