Transcript 'THE RIGHT STUFF”

PERSONAL POSITIONING FOR TOMORROW'S CHALLENGES
9/4/2010 @ Taylor's University College
Steven C.M. Wong
Assistant Director-General
Institute of Strategic and International Studies (ISIS) Malaysia
[email protected]
Easy but not painless: Easy money, fiscal spending-led
recovery; wealth illusion on a grand scale; value
unhinged; speculation & risk management industry
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Liberalisation  globalisation  financialisation
Inflated asset & commodity prices
Awesome pay packets for the few
Massive resource misallocation – capital hoarding
Shifting of liabilities to the next (your) generation
Fractious times: Convergence of geoeconomic and
geopolitical concerns; highly advanced economies also
most highly indebted; trade, investment, currency
battles; rise of economic nationalism.
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End of the public debt road approaches
Strong arming to appease domestic voters
Unemployment – employment trends are worrying
Shift of centre of economic gravity to Asia
Decoupling myth - someone kill this please
-5.0%>
-1.0%~-<5.0%
HUN, ITA
Output Growth - 2010
-1.0%~+<1.0%
AUT, CHE, DEU, ESP,
FRA, NLD, SWE, TWN,
+1.0%~+<5.0%
+5.0%>
AUS, CAN, GBR, KOR,
MEX, MYS, JPN, PHL,
RUS, SGP, THA, USA
BRA,CHN, IDN, IND,
VNM
Deflation
<-3.0%>
3.0%~<-1.0%
Inflation
-1.0%~<+1.0%
AUT, CHE, DEU, ESP, JPN,
MYS, NLD, TWN
10.0%>
DEU, ESP, FRA, HUN,
ITA, USA
7.5%~<10%
BRA, CAN, GBR, IDN,
PHL, RUS, SWE
-10%>
GBR, ESP, JPN, USA
-10.0%~<-5%
FRA, HUN, IND, ITA,
NDL, MYS, RUS, THA,
VNM
0%~25%
AUS, CHN, RUS
25%~50%
CHE, BRA, ESP, IDN,
KOR, MEX, SWE, THA,
TWN
Unemployment
5.0%~<7.5%
AUS, AUT, CHE, IND, JPN,
MEX, NDL, TWN
Fiscal deficit (% GDP)
-5%~<0%
AUS, AUT, BRA, CAN,
CHE, CHN, DEU, IDN,
KOR, MEX, PHL, SWE,
TWN
Public debt (% GDP)
50%~75%
AUT, IND, MYS, NDL,
PHL, VNM
+1.0%~+<3.0%
AUS,CAN, CHN, FRA,
GBR, HUN, ITA, SGP,
SWE, THA, USA
+3.0%>
BRA, IDN, IND, KOR,
MEX, PHL, RUS, VNM
2.5%~<5.0%
CHN, KOR, MYS, SGP,
VNM
<2.5%
0%~+<5%
SGP
+5%~+10%
75%~100%
CAN, DEU, FRA, GBR,
HUN, SGP, USA,
100%>
ITA, JPN
Strategic maneuvering: Business concentration
through global M&A. Splitting up of value chain.
Technology race replacing conventional arms race.
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Control of capital vs. capital controls
Investment decisions vs. industry leadership
Management across borders (i.e. diversity)
Multiple skill sets required
Organization & project management
VALUES, BELIEFS
& ATTITUDES
COGNITIVE
ABILITIES
KNOWLEDGE &
SKILLS
CULTURAL &
SOCIAL CAPITAL
What is important
in life?
What is not?
What’s there to
be passionate
about?
Why do things
happen?
Why do things not
happen?
How to change
outcomes?
What are essential
knowledge and skill
sets?
What are useful?
How to practice
and perfect?
How to fit into
companies &
communities?
How to find allies &
partners?
How to be resonate?
• Principles vs.
pragmatism
• Liberal vs .
conservative
• Proactive vs.
passive
• Strengths
• Weaknesses
• Opportunities
• Threats
• Strategies
• Problem-solving
• Efficiency
• Effectiveness
• Value
• Solutions
• Real worth
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Action
Cooperation
Feedback
Information
• Norms
• Habits
• Cause-and-effect
• Morality & ethics
• Sacrifice
• Cooperation
• Sharing
• Participation
• Competition
• Competition
• Goal-setting
• Achievement
• Values, belief & attitudes are ‘given’; form or be formed;
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set/reset anchors; invest wisely
Opinions count but are not all that count; age of ‘instant’
experts; instead question & reflect
Excellent communication expected but not enough; talk is
getting cheaper by the day
Mental agility must take its place alongside values, ability
& knowledge; otherwise ‘misguided’ missiles result
Predigested and prepackaged knowledge is creating
parrot & ‘cut-and-paste’ generation’; be creative
• Look for opportunities to practice & perfect your
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crafts; take shortcuts at your own cost
Remember cultural capital: language, norms, etc. Key
word is resonate
Don’t underestimate power of the Internet but don’t
overestimate it ; blogs, tribes, Facebook, etc.
Be practical; identify mentors, enlist co-conspirators;
network allies & partners, resonate
Any endeavour or change will encounter resistance &
apathy; master cooperation; expect & engage
• 1. | Conduct a time inventory/audit; understand self
first; discover conflicting goals; time traps
• 2. | Devise personal information acquisition &
reflection strategies (and not just text books & blogs
either)
• 3. | Get interested, get energised, get informed, get
out there
• 4. | Take consistent & concerted personal & group
action