Wednesday, December 23, 2009
Wednesday, December 2, 2009
Welcome to Run For Hope 22 November 2009
Good morning, a warm welcome to over 6,000 winners!
Mr. David Sevigny, High Commissioner of Canada, Ms Jessica Tan, Member of Parliament of East Coast GRC, distinguished guests, ladies and gentlemen
You have won even before our run begins; you have won over millions in Singapore
Run for hope is not a competitive race, there is no prize for the best timing.
However right here today, everyone will walk away with a prize – hope is your medal! This T shirt you are wearing is your mark of a winner. Congratulation!
Hope is right, hope works. Your presence this morning affirms it.
Hope is the ONLY currency we use in love, health and wealth in our daily life. Hope, in all it serves – to our nation, our loved one, people near and far – has marked the upward surge of mankind to overcome any adversity in cancer.
Cancer is one long and hard battle we are fighting. The presence of Dr. William Tan, Mr. Ezzy Wang and you gives us a strong signal, support and encouragement that we are on the right track with the right hope to win over cancer.
This run is only possible with the generosity and support of our sponsors, partners, a team of dedicated volunteers and you. I like to express our sincere appreciation to you.
We are not perfect in our organization and I welcome your feedback and suggestion for us to improve.
To our cancer patient, survivor, family members, their close one and medical team, we have HOPE in you!
Please enjoy the run and may today mark the beginning of our daily run to win over cancer.
Thank you.
Wednesday, November 4, 2009
Are you a GP or Specialist in Audit?
In one of ACCA thought leadership programs to influence voice on issues affecting the profession and the environment in which it functions globally; a roundtable discussion on “Value of audit” was organized by ACCA Singapore on November 2, 2009.
The discussion was facilitated by a very impressive panel of leading professionals, including the Presidents, audit partners, professor, regulator, CFO and internal auditor, to share their expert opinion and experience on the subject.
In the discussion, it focused on the value of audit and its benefits to the various stakeholders; expectation gap related to audit; the engagement of non audit works, conflict of interest; capping of liability of the auditors; audit threshold applicable to organizations; communication by the auditor to the public; function of audit committee and independent director.
It began with the ‘true and fair’ vs ‘correct and fair’ discussion led by President of SIAS. A very interesting thought was evolved to ‘decouple’ the appointment of auditor to a central body instead of confining it at the entity level.
Responsibility and accountability
It is reasonable to expect the auditor to perform a financial audit and express an opinion; it would be an unreasonable stretch by the various stakeholders to expect the auditor to express a ‘true and fair’ opinion on the business that the management has a better knowledge over the auditor. Fair value accounting is one such example.
The responsibility of a ‘true and fair’ representation lies with the management and the board assume this responsibility. The management under the leadership of CEO, CFO or Finance director, the presence of audit committee, is fully accountable on the financial performance, affairs and its representation.
In today complex business environment, it is unreasonable and impractical to expect an auditor having the competency and experience to express an opinion on the business, in particular on subjective matter involving judgmental call where the operating environment is volatile, complicated and may involve the dealing of sophisticated products and valuation. While there is no denial that the big firms have its in house expert that it can draw upon to improve the quality of the audit; inevitably there is a cost associated to such expert opinion.
Financial audit and business
It is very comforting to know the high trust and reliance one place on the auditor, and the high regard to the profession of an auditor. It is also very encouraging to see the quality enhancement in audit beyond compliance and the benefit it can provide to the client like lowering the interest on the borrowing.
While the enhancement raises the quality of audit, it has also raised the expectation one demand from auditor beyond the financial audit.
The management representation an auditor relies confine its opinion to a ‘Yes’ or ‘No’ response that may do injustice to the many quality works performed by the auditor leading to that conclusion to express an opinion on the auditor report.
At the discussion, it gathered that auditor can communicate better to the various stakeholders, in balance to its concern and burden over liability. The better communication could lead to enhance the broader reliance on the audit and may consequently improve the remuneration of auditor, that fall behind other professions and does not commensurate with the quality works it produces.
GP Vs Specialist
It is common that field audit works are performed under the supervision of a senior, or a ‘houseman’ that I referred to using the analogue to a medical profession. The ‘houseman’ is conducting his work with the supervision of the next senior, a ‘GP’. While it is reasonable to expect a GP to know every part of a body (the business), a GP cannot and will not deal with complex cases and must have the knowledge to refer to the right specialist within or outside the hospital (the firm).
The question we need to ask ourselves then is whether is it sufficient to have a general health check (audit) by a GP, or we need to expand the scope of audit to cover a broader aspect of the business that requires a specialist or expert. In which case, it will lead to escalation in the audit fee and also to limit the audit engagement to large firm or firm having the specific domain knowledge as its client.
At the practical front, it is an irony to expect a ‘houseman’ or “GP’ to assess the ‘specialist’ (CEO and CFO) of the client who has the intimate and domain knowledge of the business. Due to the high turnover of the audit staffs, often this adds to the aggravation of the client during the course of the audit.
Career progression and talent retention
In the career progression of an auditor, one will begin his first audit assignment in the field and leads to the career goal of becoming an audit partner or establishing his own firm. In such development, the progression from a ‘GP’ to a ‘specialist’ in audit is no doubt; and the progression to a ‘specialist’ with the specific industry domain knowledge is limited to a few.
The one directional trend of auditor progression confines its growth within the audit industry; and in exception cases you would find one switch from other industry to audit as a mid career change. It is the mid career switch to audit that can enhance the pool of ‘specialist’ having the industry knowledge to audit client within that specific industry. I am encouraged to know that the regulatory body is addressing this knowledge gap.
The value of audit is first associated with the cost and the benefit it provides to the various stakeholders. The diversity in business, product innovation, cross border training, ever changing operating environment, varying associated risks, real time reporting and forward looking statement compounded the expectation gap and scope of audit.
Following this discussion, I like to seek your participation in a survey on this subject and I will share with you the survey result upon its conclusion.
Click on the following link to complete the survey. http://www.surveymonkey.com/s.aspx?sm=xwPjqP22DyR2OkkDhl69_2fA_3d_3d
Thank you
Wednesday, October 14, 2009
Discover the sparkles of a diamond in your words
In a recent presentation to a group on the ‘use of words’ in a speech craft workshop; I first thought of using the song ‘Words’ by Bee Gee as I prepared the session. On second thought, I gave up as I do not have a vocal quality as close to Bee Gee.
As half of the attendees were women, I thought of what could be an effective connection to befriend the audience than using the qualitative criteria of evaluating a Diamond, a woman’s best friend! I also discovered that there is a lot of commonality of 4 Cs in a diamond with the right use of words.
Clarity is as importance as the right use of words in communication where we must provide clarity to match the exact meaning of the speech we wish to convey.
There cannot be any ambiguity for the audience to second guess what is the meaning of the word as it will distort the speech, and leave the audience walk away with different interpretation listening from the same speaker! Can you imagine if this would happen to a safety communication session!
‘Evacuate the building’ is not the same as ‘Leave the building’ as the latter has no sense of urgency! I am sure you will not want to be the party responsible for the damage or any insurance claim?
Cut in a diamond presents its shape, its sharp as well as its smooth edges. The same applies in words, where we need to use ‘sharp’ word enhanced with vocal emphasis to convey an important message, and ‘soft’ or ‘smooth’ words to empathies with the audience in the emotional roller coaster during the communication session.
Use of ‘Sharp’ word is appropriate in formal, technical or business environment. And use of ‘Smooth’ word is appropriate in informal, motivational or casual environment.
‘Compel to do’ enforces action where ‘Encourage to do’ leaves one with the discretion.
Color enhances a diamond with a dimensional effect. I am sure you enjoyed and remembered the last ‘colorful’ speech you listened. Where is the color in the right use of word?
It needs some visualization for you to discover the right use of word to add the colorful effect to it. First begins with positioning yourself as an audience, search through what are the words the will excite them and leads them to imagine. Rationalization will not work here; you need to find emotional engagement words.
‘Money’, ‘Holiday’, ‘Joy’, ‘Love’, ‘Peace’ are words that will engage the audience emotionally and free their imagination with no boundary.
Carat is the weight of a diamond. Word has its weight as well! Key words in any communication sessions must register and cover in every part of the speech, be it the opening, body or closing.
The effective use of key words in the opening draws audience’s attention; in the body it engages, personalizes and synthesizes with the audience; and in the closing it draws a conclusion jointly with the audience.
It has been scientifically proven that the use of not more than 5 key words is effective to deliver the essential of a speech; as any more will stretch beyond the attention span of most people and renders it ineffective.
Birth, School and Work are three key words to describe one’s life and is effective in any ice breaking session.
As I discovered the 4 Cs in the use of words like a diamond, typical with my occupation, I like to offer you a bonus with the fifth C,
Cost is needed for you to own the diamond. In the same manner as you evaluate the quality of a diamond with 4 Cs, you need to put a value in the communication on how you wish the audience to benefit.
It is the value in your speech that will determine whether there is a ‘value for money’ preposition to the audience.
It is through the fulfillment of the 5 Cs that the audience will grade you with a premium or discount in the delivery. It is through practice, practice and practice that we can earn the premium in our communication.
As a competent communicator, it is your right use of words that will add spark to the diamond in your speech.
Be a 5 diamonds communicator over a 5 stars communicator and earn your premium!
As half of the attendees were women, I thought of what could be an effective connection to befriend the audience than using the qualitative criteria of evaluating a Diamond, a woman’s best friend! I also discovered that there is a lot of commonality of 4 Cs in a diamond with the right use of words.
Clarity is as importance as the right use of words in communication where we must provide clarity to match the exact meaning of the speech we wish to convey.
There cannot be any ambiguity for the audience to second guess what is the meaning of the word as it will distort the speech, and leave the audience walk away with different interpretation listening from the same speaker! Can you imagine if this would happen to a safety communication session!
‘Evacuate the building’ is not the same as ‘Leave the building’ as the latter has no sense of urgency! I am sure you will not want to be the party responsible for the damage or any insurance claim?
Cut in a diamond presents its shape, its sharp as well as its smooth edges. The same applies in words, where we need to use ‘sharp’ word enhanced with vocal emphasis to convey an important message, and ‘soft’ or ‘smooth’ words to empathies with the audience in the emotional roller coaster during the communication session.
Use of ‘Sharp’ word is appropriate in formal, technical or business environment. And use of ‘Smooth’ word is appropriate in informal, motivational or casual environment.
‘Compel to do’ enforces action where ‘Encourage to do’ leaves one with the discretion.
Color enhances a diamond with a dimensional effect. I am sure you enjoyed and remembered the last ‘colorful’ speech you listened. Where is the color in the right use of word?
It needs some visualization for you to discover the right use of word to add the colorful effect to it. First begins with positioning yourself as an audience, search through what are the words the will excite them and leads them to imagine. Rationalization will not work here; you need to find emotional engagement words.
‘Money’, ‘Holiday’, ‘Joy’, ‘Love’, ‘Peace’ are words that will engage the audience emotionally and free their imagination with no boundary.
Carat is the weight of a diamond. Word has its weight as well! Key words in any communication sessions must register and cover in every part of the speech, be it the opening, body or closing.
The effective use of key words in the opening draws audience’s attention; in the body it engages, personalizes and synthesizes with the audience; and in the closing it draws a conclusion jointly with the audience.
It has been scientifically proven that the use of not more than 5 key words is effective to deliver the essential of a speech; as any more will stretch beyond the attention span of most people and renders it ineffective.
Birth, School and Work are three key words to describe one’s life and is effective in any ice breaking session.
As I discovered the 4 Cs in the use of words like a diamond, typical with my occupation, I like to offer you a bonus with the fifth C,
Cost is needed for you to own the diamond. In the same manner as you evaluate the quality of a diamond with 4 Cs, you need to put a value in the communication on how you wish the audience to benefit.
It is the value in your speech that will determine whether there is a ‘value for money’ preposition to the audience.
It is through the fulfillment of the 5 Cs that the audience will grade you with a premium or discount in the delivery. It is through practice, practice and practice that we can earn the premium in our communication.
As a competent communicator, it is your right use of words that will add spark to the diamond in your speech.
Be a 5 diamonds communicator over a 5 stars communicator and earn your premium!
Wednesday, August 19, 2009
Redesign to a LEAN Cost Structure
How can you extend the operation of business centre to 24 hours and reduce operating coverage of the staff; a seeming contradiction to achieve a leaner cost?
Control without compromise
‘Control without compromise’ is our collective response to the current financial crisis and the rapid deteriorating economic condition. It is a right, timely and necessary response to meet the challenges ahead of us.
The top line revenue in every business is declining rapidly and is multiple in magnitudes to the same adjustment one can make on the cost and expense.
Cost reduction strategy
Cost reduction is an end and not a mean for us to be effective to achieve the objective of outlasting the crisis. It is the thinking at the existing structure with the attempt to cut, reduce, defer, omit or negotiate at the current cost.
If you begin with reduction in mind, the common defects associated with it are
- The acceptance that the current structure is the best, which often may not be the case and miss the opportunity to take advantage of the downturn where ample time is available to explore the alternative;
- Applying the wrong strategy and worked on area beyond your area of influence;
- It does not provide value for money assessment;
- Quality of service and staff morale may be threatened;
- Inefficient allocation of resources where the higher cost item that form your main value driver to your customer may be cut and other idle resources continue to exist
Redesign cost structure
This is a sustainable alternative that can withstand the test of time.
Conceptually it contrasts with cost reduction as follow
$ Reduction $
$ Structure Structure $
In a cost reduction, it is the amount you need to reduce that leads you to implement the various measures to achieve it, and often it does not modify your existing cost structure.
In a redesign, it compels you to examine the existing structure, to explore the advantage associated with the redesign, and modify with the outcome of a leaner structure. It is the outcome of the structure that determines your cost.
Instead of beginning with a cost reduction strategy; begins with a lean cost structure strategy. Such an approach will provide you with the benefits of
- reexamine the existing needs and cost structure associated with it
- focus on strategy that can contribute to sustainable development
- enhance service quality
- deliver value for money and the outcome you wish to accomplish
- align resources allocation with strategy
Innovative redesign
As you redesign the cost structure, you will find that in every innovation, it will involves 4 phases of development
Visioning - What is your most desirable outcome
Exploring - What are the various components you need to explore
Experimenting - How can you mix, combine or alter the existing offering with a better outcome
Modifying - How you can consistently deliver the better solution under a modified offering
For example in the case of a Smart phone innovation, the 4 phases of development involved
Visioning - The most innovative mobile business phone
Exploring - To talk is the current use of the existing phone and the most crucial value driver
Experimenting - How can the talk combine with image and internet access to improve the communication? Will a camera work with a phone? Will a mini PC work with a phone?
Modifying - A new modified product emerged from a normal phone to a sophisticated smart phone
Another innovation you may notice is the TV mobile on a bus.
In short, I called this ‘VEEM’ innovation framework
Business Centre
I initiated using Business Centre as a development for the team to work in applying VEEM innovation framework with the objective of modifying its cost structure and consequently lead to a leaner cost as an outcome.
Append was the experience we gathered at this development
Visioning
The thinking involved at visioning were
• It should excite guests and staff.
How a new structure can provide 24 hours service, meet on demand request and support shorter working hours in shift?
• What guests want
Is 24 hours service consistent with the others services available in the hotel meeting the demand of the guest?
• World class
Is 24 hours business centre a world class offering and provide us with a competitive advantage?
• Quality process
Does this lead to quality improvement?
• Strategic positioning
How can this strengthen the strategic positioning of Regent as a business hotel
• Ideal for future
Is this foreseeable by everyone as an ideal future?
Exploring
The groundwork gathered at the fact finding included
• It should wow guests and staff
What are the various steps need to be in place to support a 24 hours business centre?
Can the guest keycard use to provide free access to the business centre in the same manner we promote 24 hours pool and gym?
How can our staff benefit with the multi skill training through the shift rotation and planned coverage after the manned hours at business centre?
• It could break rules
How safe is it to break away from the current operating hours?
• Start afresh
To reexamine the needs and understand the contacts with the guests, to start afresh with a new offering of a 24 hours business centre
• Invent new rule
What are the new rules we need to invent under the new offering? How can security be involved to ensure the safety and security of the guests?
• New assumptions formed after exploration
As we explored each of the service aspects, new assumptions were formed as an agreement with Regent Club, Front Office and Business Centre to move this one step further.
Experimenting
The various combination of ideas were mixed to test the acceptance level of the new scheme
• It should amuse guests and staff
Is the self serve free access business centre a better guest experience?
What were the feedbacks?
How the staff affected by the new operating shift?
• Find the right mix of ideas while testing guests
Can an alarm be fitted at the free access hour for the safety and security of the guest?
How is the security patrolling hours affected by this change?
• Best synergy
Is Regent Club stepping in as relief shift the best synergy for operational efficiency?
• New solution
How do we communicate this new solution to staffs, guests, contractors and all concerned parties?
Modifying
After experimenting with success, build in the ‘fail safe’ system and widely communicate to the whole team. The modified service needs to be able to implement as a best practice consistently
• It should satisfy guests and staff
The differentiation in service should be an edge where you can win and create a competitive advantage
• The process should add value and modify with better services to customers
Applying the same thinking of a 24 hours service in a hotel, the 24 hours business centre in the modified offering must deliver a better service to the guests
• Extend offering
Free internet access is value add in the extended offering we offer during the self service hours in the modification.
• Improve process
The safety and security process concerning business centre is improved as a consequence of 24 hours business centre.
• Core competency
The core competency of business centre operation is extended to other staffs in supporting the modification.
Adapt and adopt
Conceptually it may appear to be a progressive framework where you move from visioning, exploring, experimenting to modifying. In practice, you must always have all four in mind in the implementation.
In the implementation, you need both facilitative and directive leadership to make it works. You can facilitate an initiative from the team, keep the goal in mind and it can accelerate as they take full ownership over it. At times, you may encounter conflict among team members in their deliberation; you need to make a stand to direct in the best interests and take the best available options to push forward the initiative.
In the process of adapting and adopting new practices, a few important points to note
Communicate – You need to communicate upward to seek buy in, lateral to win support from your team members to support and downward to get the employee to agree on the plan.
Commitment – Communicate with no specific measurable goal is like working with a moving target or no target. You need to set goal that aligns to your vision and seek commitment with measurable goals from every team members. You cannot manage what you cannot measure!
Relationship – While you can be perfectly rationale in your approach to meet the plan. Emotional intelligence is required for you to maintain the relationship so that your team is with you throughout the entire process. Creating a small taskforce, celebrate success along the way, arrange brain storming session are some of the approaches you can use to cement the relationship.
Get it right, get me right and Wow me if you can
Get it right – It is crucial to begin with the guest experience in mind in any strategic change to the service. By understanding the need of today business traveler demand of a 24 hours accessibility to a business centre, a redesign present an excellent opportunity to get it right for the guest.
Get me right – To achieve cost saving through first get it right is consequential to our objective to outlast the current crisis; and it also provides an opportunity to sustain any such initiative into a longer term, modified and expanded the offering in the services needed previously but not available.
Wow me if you can – With the right mindset, everything is achievable if you take your leadership and full ownership to deliver the Wow.
Transactional change Vs transformation
It is clear from this re- design; you can learn that transformation in the service process contributed to a leaner cost structure, without compromising guest experience.
On the contrary, the guest experience is enhanced with 24 hours business centre accessibility that previously not available.
It is through transformation that can lead to sustainable cost structure, and consequently a leaner cost outcome. It is definitely not one begin with the set transactional cost outcome to determine the service process, which potentially can lead to compromise in guest and employee experiences.
A transactional annual cost saving of over $20k is the outcome of this transformation under a ‘control without compromise’ experience.
Control without compromise
‘Control without compromise’ is our collective response to the current financial crisis and the rapid deteriorating economic condition. It is a right, timely and necessary response to meet the challenges ahead of us.
The top line revenue in every business is declining rapidly and is multiple in magnitudes to the same adjustment one can make on the cost and expense.
Cost reduction strategy
Cost reduction is an end and not a mean for us to be effective to achieve the objective of outlasting the crisis. It is the thinking at the existing structure with the attempt to cut, reduce, defer, omit or negotiate at the current cost.
If you begin with reduction in mind, the common defects associated with it are
- The acceptance that the current structure is the best, which often may not be the case and miss the opportunity to take advantage of the downturn where ample time is available to explore the alternative;
- Applying the wrong strategy and worked on area beyond your area of influence;
- It does not provide value for money assessment;
- Quality of service and staff morale may be threatened;
- Inefficient allocation of resources where the higher cost item that form your main value driver to your customer may be cut and other idle resources continue to exist
Redesign cost structure
This is a sustainable alternative that can withstand the test of time.
Conceptually it contrasts with cost reduction as follow
$ Reduction $
$ Structure Structure $
In a cost reduction, it is the amount you need to reduce that leads you to implement the various measures to achieve it, and often it does not modify your existing cost structure.
In a redesign, it compels you to examine the existing structure, to explore the advantage associated with the redesign, and modify with the outcome of a leaner structure. It is the outcome of the structure that determines your cost.
Instead of beginning with a cost reduction strategy; begins with a lean cost structure strategy. Such an approach will provide you with the benefits of
- reexamine the existing needs and cost structure associated with it
- focus on strategy that can contribute to sustainable development
- enhance service quality
- deliver value for money and the outcome you wish to accomplish
- align resources allocation with strategy
Innovative redesign
As you redesign the cost structure, you will find that in every innovation, it will involves 4 phases of development
Visioning - What is your most desirable outcome
Exploring - What are the various components you need to explore
Experimenting - How can you mix, combine or alter the existing offering with a better outcome
Modifying - How you can consistently deliver the better solution under a modified offering
For example in the case of a Smart phone innovation, the 4 phases of development involved
Visioning - The most innovative mobile business phone
Exploring - To talk is the current use of the existing phone and the most crucial value driver
Experimenting - How can the talk combine with image and internet access to improve the communication? Will a camera work with a phone? Will a mini PC work with a phone?
Modifying - A new modified product emerged from a normal phone to a sophisticated smart phone
Another innovation you may notice is the TV mobile on a bus.
In short, I called this ‘VEEM’ innovation framework
Business Centre
I initiated using Business Centre as a development for the team to work in applying VEEM innovation framework with the objective of modifying its cost structure and consequently lead to a leaner cost as an outcome.
Append was the experience we gathered at this development
Visioning
The thinking involved at visioning were
• It should excite guests and staff.
How a new structure can provide 24 hours service, meet on demand request and support shorter working hours in shift?
• What guests want
Is 24 hours service consistent with the others services available in the hotel meeting the demand of the guest?
• World class
Is 24 hours business centre a world class offering and provide us with a competitive advantage?
• Quality process
Does this lead to quality improvement?
• Strategic positioning
How can this strengthen the strategic positioning of Regent as a business hotel
• Ideal for future
Is this foreseeable by everyone as an ideal future?
Exploring
The groundwork gathered at the fact finding included
• It should wow guests and staff
What are the various steps need to be in place to support a 24 hours business centre?
Can the guest keycard use to provide free access to the business centre in the same manner we promote 24 hours pool and gym?
How can our staff benefit with the multi skill training through the shift rotation and planned coverage after the manned hours at business centre?
• It could break rules
How safe is it to break away from the current operating hours?
• Start afresh
To reexamine the needs and understand the contacts with the guests, to start afresh with a new offering of a 24 hours business centre
• Invent new rule
What are the new rules we need to invent under the new offering? How can security be involved to ensure the safety and security of the guests?
• New assumptions formed after exploration
As we explored each of the service aspects, new assumptions were formed as an agreement with Regent Club, Front Office and Business Centre to move this one step further.
Experimenting
The various combination of ideas were mixed to test the acceptance level of the new scheme
• It should amuse guests and staff
Is the self serve free access business centre a better guest experience?
What were the feedbacks?
How the staff affected by the new operating shift?
• Find the right mix of ideas while testing guests
Can an alarm be fitted at the free access hour for the safety and security of the guest?
How is the security patrolling hours affected by this change?
• Best synergy
Is Regent Club stepping in as relief shift the best synergy for operational efficiency?
• New solution
How do we communicate this new solution to staffs, guests, contractors and all concerned parties?
Modifying
After experimenting with success, build in the ‘fail safe’ system and widely communicate to the whole team. The modified service needs to be able to implement as a best practice consistently
• It should satisfy guests and staff
The differentiation in service should be an edge where you can win and create a competitive advantage
• The process should add value and modify with better services to customers
Applying the same thinking of a 24 hours service in a hotel, the 24 hours business centre in the modified offering must deliver a better service to the guests
• Extend offering
Free internet access is value add in the extended offering we offer during the self service hours in the modification.
• Improve process
The safety and security process concerning business centre is improved as a consequence of 24 hours business centre.
• Core competency
The core competency of business centre operation is extended to other staffs in supporting the modification.
Adapt and adopt
Conceptually it may appear to be a progressive framework where you move from visioning, exploring, experimenting to modifying. In practice, you must always have all four in mind in the implementation.
In the implementation, you need both facilitative and directive leadership to make it works. You can facilitate an initiative from the team, keep the goal in mind and it can accelerate as they take full ownership over it. At times, you may encounter conflict among team members in their deliberation; you need to make a stand to direct in the best interests and take the best available options to push forward the initiative.
In the process of adapting and adopting new practices, a few important points to note
Communicate – You need to communicate upward to seek buy in, lateral to win support from your team members to support and downward to get the employee to agree on the plan.
Commitment – Communicate with no specific measurable goal is like working with a moving target or no target. You need to set goal that aligns to your vision and seek commitment with measurable goals from every team members. You cannot manage what you cannot measure!
Relationship – While you can be perfectly rationale in your approach to meet the plan. Emotional intelligence is required for you to maintain the relationship so that your team is with you throughout the entire process. Creating a small taskforce, celebrate success along the way, arrange brain storming session are some of the approaches you can use to cement the relationship.
Get it right, get me right and Wow me if you can
Get it right – It is crucial to begin with the guest experience in mind in any strategic change to the service. By understanding the need of today business traveler demand of a 24 hours accessibility to a business centre, a redesign present an excellent opportunity to get it right for the guest.
Get me right – To achieve cost saving through first get it right is consequential to our objective to outlast the current crisis; and it also provides an opportunity to sustain any such initiative into a longer term, modified and expanded the offering in the services needed previously but not available.
Wow me if you can – With the right mindset, everything is achievable if you take your leadership and full ownership to deliver the Wow.
Transactional change Vs transformation
It is clear from this re- design; you can learn that transformation in the service process contributed to a leaner cost structure, without compromising guest experience.
On the contrary, the guest experience is enhanced with 24 hours business centre accessibility that previously not available.
It is through transformation that can lead to sustainable cost structure, and consequently a leaner cost outcome. It is definitely not one begin with the set transactional cost outcome to determine the service process, which potentially can lead to compromise in guest and employee experiences.
A transactional annual cost saving of over $20k is the outcome of this transformation under a ‘control without compromise’ experience.
Sunday, August 2, 2009
Hope - Your Currency in Life
If there is 50% chance of winning, what will you do?
I posted this question to a group of Accountants in a recent meeting, their response was dependent on the reward one will receive to take this chance, and whether it is worthwhile to take it. And one person in particular will only take it if it is a sure win. Unfortunately uncertainty is the only certainty we have in life.
After receiving the first response, I clarified my question further and asked what if the reward is between life or death. Immediately the favorable response increased as the stake about one’s life is definitely higher and worth taking the chance. It is not about material good one can buy or sell, it is about life!
Whenever we know of someone falls sick, we will wish him or her speedy recovery. Whenever we are in desire of sometime better than what we currently have, we hope that we can be the lucky one to own it. Be it a house, a car, our health, our career etc..
Hope is definitely more active than wish, as you will take some action in anticipation to be the lucky one. The common hope most people made is to become a millionaire over night. Simply wish without even buying a lottery ticket, taking an evening class, embark on a new learning or making the first move to establish a new relationship are wishful thinking and will leave one with no hope.
Life is about relationship. H1N1 claimed more than 10 lives in
We are living in an urban city. Our well being is often reference to financial wealth and not physical health. We work hard to accumulate our wealth so that one day we can afford the expensive health care that we may need. What an irony?!
Yes, the state of the art medical facilities and excellent health care is something we take pride in
Prevention is definitely better than cure. We must be proactive and take the responsibility to fight against major illness. Better medical research is one answer to this fight.
At the community level, Rotary International is leading a very meaningful project, “Polio Plus”, in 20 years of hard work, Rotary and its partners are on the brink of eradicating Polio. Bill Gates, a strong supporter of this project said "If we all have the fortitude to see this effort through to the end, then we will eradicate polio." Know more at http://www.rotary.org/en/ServiceAndFellowship/Polio
I believe we have the capacity to join the battle to end another tenacious disease, Cancer, with the same success as our fight against Polio and you can be a part of this movement to eradicate Cancer.
In 2008, National Cancer Centre of Singapore made the progress to develop a new technology - an auto-fluorescent bronchoscope machine that would detect lung cancer in the early stages to increase the success of intervention and treatment. This was made possible through the charity run, "Run For Hope" organized by Four Seasons Hotel Singapore and The Regent Singapore.
22 November, 2009 is the date you can participate to support this very meaningful human race against cancer. Today’s research, tomorrow’s cure is our mission in this annual charity run.
What can you do to support? You simply need to register for the run. It is not a competitive run; you can walk, jog or run.
In appreciation of the support you provide to the run, we gathered over $200 worth in value from our sponsors to give to each participant. With the generous sponsorship, you can run, dine, drink, pamper or fly, and a small registration fee of $35 is what we need from you.
For simply over a $1 day you can save in the next 30 days and use it to register for the run. I am sure everyone can do it.
Statistically, 50% of male and 40% of female will contact cancer. This is your chance. You can make a difference to join Run For Hope 2009 and bring hope to humanity. It is for you, people dear and close to us!
“Yesterday is a canceled check. Tomorrow is a promissory note. Today is ready cash.” This will be your wise choice of using the cash today to support a better tomorrow.
Human well being is defined not by our financial wealth, neither is it by our physical health. It is defined by the quality of our aspiration, hope and progress to our humanity effort.
Hope is the currency in life for a sustainable future! Visit us http://www.runforhopesingapore.org/
bbjames's Profile on Ping.sg
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