Archive for October, 2005

THE DEVIL’S ADVOCATE

Thursday, October 27th, 2005

I used to write a column in the National University of Singapore’s campus newspaper. Just for a few editions, before I got elected to another body. That column was called “The Devil’s Advocate”, which gave me the editorial leeway to blast away at pet peeves.

The only editorial distinction I achieved with that column was I became the first writer to use “it sucks” in the official campus newspaper. And I was not writing about a vacuum cleaner. That was more than 15 years ago, and the editorial committee debated no end on whether to let that phrase stay. It ran, because the chief editor cast the final vote, and she remains a friend to this day.

But I digress.

The Devil’s Advocate, I read in an article recently, is also a much abused defense for people who are inclined to be negative and destructive in their views. This people would issue a caveat like, “Let me play Devil’s Advocate”, before rubbishing a colleague’s work or idea. It is like being a self-declared devil’s advocate gave a person the right to be negative, without the responsibility of proferring anything better in return.

That said, I am a believer in the role of Devil’s Advocate being institutionalised in an organisation, just like the Catholic Church. The role would be rotated amongst a few staff, with the rest of the company made aware that that staff’s role is to present counterpoints, and even look at things from the dark side. Of course, this role has to be rotated. If not, that one poor staff stuck with being the resident devil’s advocate will become that role, and not just play it.

A classic benefit of a devil’s advocate in any working group is to pre-empt group-think. I learned during my studies that organisations that have enforced this role have spared themselves many bad decisions and actions. This is especially the case for groups that are made up of people with similar expertise and experience, or those with strongh, dominant leaders. You need an enforced devil’s advocate to keep minds and perspectives open, instead of running off a cliff with blinders on.

The most famous case I can think of is the war cabinet of JFK during the Cuban missile crisis. RFK (the president’s younger brother) was the devil’s advocate, and the war cabinet was also given explicit instructions to challenge the president’s and one another’s assumptions. This group of men ultimately prevented a nuclear war from happening.

Now, that would have sucked.

BUFFETT’S EQUATION

Monday, October 24th, 2005

Just read a short column in the papers over the weekend. A writer was commenting on how Warren Buffett was a principled man, and that his values translated in business success.

What struck me was Buffett’s adaptation of Einstein’s equation on the theory of relativity, e=mc2 (squared).

For Buffett, the success of a business can be predicted from this equation, with changes to what the variables stand for.

E = earnings, the lifeblood of a business.
M = management capability.
C = character of the management. Squared.

The emphasis was on “C squared”. No matter how skilled the management of a company is, the character of the business leaders is even more important for long-term success.

Of course, we all know of famous and infamous stories about super-charged Alpha males becoming business legends. However, our better senses also tell us that in the majority, successful businesses cannot be divorced from values. These values must stem from people, especially the leaders of a company. Values as written on posters mean nothing. They only come to life through daily application.

And this is why business is always a tough calling.

THE IMPORTANCE OF STORIES

Thursday, October 20th, 2005

Just met a young candidate today for a position with the company. Will probably hire him. He tells good stories.

I believe that people who can tell stories are those who have had interesting life experiences. It is more than reading (even though this is a dying art in Singapore). People who tell good stories tell them with earnesty, truth, and a desire to pass on certain intangibles. Storytellers are sharers, not hoarders. And the good ones tell stories that involve so much more than themselves.

I wish more people would share their stories. Even clients. There are so many good and interesting things we can say about a business, product and service. But we first need to hear them from the people closest to them. That is also why customers tell very good stories about the services and products they use. If only we bother to listen to them and co-opt them into our corporate story-telling.

Even for a small company like ours, the most quiet colleague has interesting perspectives to share, when encouraged. The good stories even become our own mini-legends. Like how we scored brownie points with a particular client or that infamous chilli crab session that had everyone covered in sauce.

We would like to tell more stories for our clients. After all, the good ones will live on long after our work is done.

Better make that candidate an offer soon.

Singapore Roulette

Monday, October 17th, 2005

Anyone who has fervent objections to casinos in Singapore should look at what is happening in Macau.

The world’s largest land reclamation project is creating the Cotai Strip, projected to make Vegas look like a small town affair. The most aggressive gaming industry leaders from US pushing development of an entire new downtown.

Not only is Macau going after the mainland Chinese renminbi, it has its sights centred on the MICE market. Meetings, Incentives, Conventions and Exhibitions. Sounds familar? Singapore depends a lot on such things.

With the Cotai Strip up and running with the world’s largest casino and assorted casinos and attractions, PLUS, HK’s Disneyland, the MICE business suddenly has a new Asian hub. Singapore should be running scared.

While Singapore still has a good number of regional HQs here, can we truly depend on this for continued MICE feeder business? The casinos we will have may be good enough only as a stop gap measure.

It is time to move beyond worrying about the effects of casinos in Singapore. The bigger picture is even more scary.

By the way, did you hear about the casino plans in Bangkok?

Business Sado-Masochism

Friday, October 14th, 2005

Just finished another tender submission. These things are killers, as anyone who has submitted a half-decent response to a thousand-page tender would tell you. You look around the office, and you see victims of candle-burning (both ends), starvation and dehydration.

The funny thing is that by participating in tenders (especially government ones), the company as a whole gets stronger and better at what it does. The terms of reference and conditions are so detailed and stringent. Only by application of slave-driver discipline, would any organisation be able to put together a response that is on budget, on brief and on time.

That said, I really wonder whether short timelines are the best way to solicit the best responses from the commercial sector. Averaging 3 weeks (if you are lucky), I have yet to come across anyone – partner, competitor and ourselves – emerging from a tender exercise not looking like the Huns had just stormed through the village.

What do the clients get in return? Solutions proffered tend to be cut-and-paste. Budgets are either inflated to cover for a host of contingencies or under-quoted due to mistakes and desperation to win. Nothing stated here is new.

For small companies like ourselves, our best differentiation is innovative solutions. Which means we cannot cut corners in resources
put behind tender responses. The pain, the pain. The Marquis would be proud.

NEW & FREE!

Wednesday, October 12th, 2005

That’s right. Some things in life are free, just like my random thoughts on this new blog.

What you get here will be views and reviews on all things business.

The objective of BOG is to provide Convertium’s clients and partners (and our own staff) a 24/7 avenue to occasional opinions on issues that affect us all. So, if things like KPIs, SWOTs, and USPs give you a nice tingly feeling all over, you may just like BOG .

Since I write in my personal capacity, all responsibility rests with me.

Let’s get to work.