Learn from the Big Apple !

The Big Apple, ( one that produces IPhone, Ipad, Ipod and I am not referring just the ordinary fruits perse ) has been in recent years move to being one of the best company having achieved a truly successfull innovative story, and it took only just less than a year for the Apple team to innovate from start to finish the Ipod which back then almost kill the CD industry, not instantly but almost!

Clearly, there are some lessons for innovators, maybe not just innovators but people like us in the offshore rig building industry to take a refreshing look again and where we need to re-learn our existing engineering, production & construction processes with some innovative ideas perhaps and where we could still could maintain the league in the offshore industry. We all are fully aware there are others also capable in their effort to produce rigs of demand and it will not be just the world class builder leading alone in such race for the many available offshore contracts. We need to start looking up and rebuild our strength :

Learn from past mistakes and eat the humble pie

Apple was most decidedly not thinking about portable music as the 20th century drew to a close. In the age of mp3 and peer-to-peer sharing of music, Apple was focused on video and developing iTV and iMovie - so much so, that their then current version of the iMac didn't have a CD-burner.

In fact, if they are honest, they mistook the market for music completely. The world's most innovative company was literally blind to one of the biggest social trends that was occurring at the time!

To their credit, however, and with the aid of distressing financial figures resulting from such a misreading of the market, Apple realised that it had to change its approach to the market and to the technology. Given Apple's widespread reputation for innovation and trendiness, its failure to anticipate the importance of music in the lives of personal computer users was completely uncharacteristic.

Occasioned by a US$195 million quarterly loss, however, Apple took motivation from their mistake and realised that they needed to completely rethink the way they went to market. Apple not only learned from their mistake, they used it to catapult a new innovation.

Hire those with experience and skill

So, if you're Apple, how do you recover? The common advice from most management books on building teams has typically been to: 'hire for attitude, train for skills'. This model better ensures harmonious work environments and friendly collaborations. Yet, in the world of innovation, aspirations and attitude aren't enough. In the situation that it found itself in, Apple needed real skills, and so when Steve Jobs compiled the iPod team he loaded the odds in his favour by going with his very best people in hardware, software, and design. A team was assembled because they were the best.

And putting the best skilled on a mission to change the world, drove competition within them, leading the team to perform at peak levels - nobody on that team wanted to be 'second-best'!  

Find great and workable ideas

What really sets the iPod apart from all of the other mp3 players, however, is neither the hardware, the software, nor the design - although all are world-class. The iPod's real differentiator is the ease with which the customer can access, download, store and upload the music and podcasts.

No one else can do this, and this 'innovation' did not come from within Apple, but from an outsider - Tony Fadell - who was trying to do this on his own. Apple found him - think about how difficult that is, to find someone with a good idea outside of your firm - and hired him on an eight-week contract! This was not about building a long-term employment relationship, nor about loyalty, but about accessing someone else's good idea.

Create and encourage "think" lessons

Once the team was pulled together, Steve Jobs put them into a common physical space that although not consistent with their hierarchical position, raised the probability of their having effective and fast conversations. The design team's working quarters have been described as having 'very little personal space' - there were no cubicles or offices.

By imposing open environments, the creativity and free-flow of ideas were nourished. In the flow of ideas, space matters!

Define leaderships

When you talk about Apple, you can never avoid mentioning Steve Jobs. To do so would be to underestimate his importance to the attitude of the company, and ultimately the brand.

So what role did he play in the iPod? After developing a top-notch team, Jobs gave them ambitious and clear visions. He charged the team with creating a product that would put 1,000 songs in their pocket; software so easy that their mothers could use it; and a complete product offering that would be in retail outlets in eight months.

What is so exquisite about these objectives is that they are simple, clear and precise, yet broad enough so that the team could get to work without feeling constrained by the way the vision was presented - the team could be totally focused and liberated at the same time! Innovative leaders must provide a clear briefing that organises a team but which, at the same time, doesn't restrict their talent capabilities.

Even with a reputation for getting involved in projects, Jobs actually didn't interfere all that much with the iPod project. He was both smart enough to compose a highly skilled team and then to let their skills shine. Yet, along the way, Jobs acted as both a policeman and cheerleader for the project.

He imposed an attitude that let the team members know that Apple's win would also be their personally. And, by cheerleading, he was also able to police the parameters of the project, ensuring the team stuck to his briefing goals.

Stand firm

Another Apple product, the iPhone, is now redefining the mobile phone. Yet, this innovation recently posed a threat to Apple when a technical glitch created reception problems for users. Job's response was to display true leadership by giving a message that matched what the Apple culture really is - an engineering company that has repeatedly changed the world for the better.

His message to the public was: 'We'll fix the small iPhone problem,' and to his competitors, 'catch us if you can!'   I think we as offshore rig designer and builder, probably will have to do more than Apple does and we surely have lots of technical issues to look at and we could finish sorting out, other competitors will be slowly catching up with us in no lesser time.

How having an MBA work out for you ?

Why Taiwan famous baker desperately needs to attend an eMBA ?  May 2013 news

Wu Pao-chun is an award-winning baker, a master of the breaded arts, hailed as the "glory of Taiwan" alongside Oscar-winning movie director Lee Ang.
He is an award-winning baker, a master of the breaded arts, hailed as the "glory of Taiwan" alongside Oscar-winning movie director Lee Ang. But that is not enough for Taiwanese universities, which have rejected Wu Pao-chun's attempts to get a master's degree, driving him to try his luck in Singapore.
It was at the prestigious Bakery World Cup in Paris in 2010 where Wu, now 43, became a national icon. He beat 23 rivals from 16 countries to clinch the title of Master Baker in the bread category with his rose-lychee bread creation that includes millet wine, rose petals and dried lychees - ingredients that came from Taiwan.

"I fulfilled my dream. I was able to brighten the name Taiwan," he said then.

His Wu Pao-chun Bread bakery, which opened in Kaohsiung in late 2010 to much fanfare, reportedly racked up sales of more than NT$200 million (US$6.68 million) last year. The pineapple tarts he sells are named after his mother, the late Madam Chen Wu-hsien. The youngest of eight children, he was raised by the widow in the southern county of Pingtung.
He quit school after junior high - the equivalent of secondary school in Singapore - to become a baking apprentice in Taipei, as he could not bear to see his mother slog to make ends meet. But, despite his culinary and business achievements, he was turned down in his applications to the Executive Master of Business Administration (EMBA) programme at the National Chengchi University and National Sun Yat-sen University.

EATING bak kut teh and other Singapore favourites would be great, but what celebrity baker Wu Pao-chun really hungers for when he begins an executive MBA course in the country is the know-how to run his burgeoning business, he tells The Straits Times.

Mr Wu's plan to study at the National University of Singapore (NUS) in July has caused something of a nationalistic uproar in Taiwan. But he believes it is time to venture out of his comfort zone of bread-making and school himself in finance, logistics and the management skills befitting an entrepreneur.

Mr Wu announced on the Facebook page of his shop, Wu Pao-chun Bakery, that he had accepted an offer from NUS to enrol in its Asia- Pacific Executive MBA course. For the next two years, he will attend 10 days of intensive lessons every three months. The programme is conducted in Mandarin and features field trips to countries in the region.

"I'd asked many Taiwanese friends about the programme and they told me it would give me many opportunities to learn," he said of his choice of NUS.

Mr Wu shot to fame after winning the Master Baker title in the bread category of the prestigious Louis Lesaffre Cup in France in 2010. His three-year-old shop in Kaohsiung racked up sales of more than NT$200 million (S$8.4 million) last year. His second shop, in Taipei, is due to open in August.

The high-school dropout also expressed his frustration with Taiwanese universities' graduates- only entry criteria for their EMBA programmes. Many Taiwanese, including President Ma Ying- jeou, have called for the laws to be revised. The education authorities promptly did so. The revision has been nicknamed the "Wu Pao-chun clause".

Mr Wu said yesterday that he never expected his comments to stir so much controversy. He talked enthusiastically about his upcoming stint as a lecturer at National Taiwan University, where he will teach the finer points of farming and, of course, baking. He will also attend selected business management classes at the school, on top of his studies at NUS.

Some companies would naturally love their underpaid employees.  They would bank on your guilt and sense of obligation to keep you from leaving.  Some older gen workers would rather not quit a company that has underpaid and under-appreciated them for years.  If you think or suddenly gotten up from bed and woke up realising all these years you’re not being treated right or mistreated properly, you may have to leave for better treatment or what they say commonly, "greener pasture"...... if there is such these days of poor economy led by the downfall of big economies..

Did your company pay any part of your MBA or MSc study?  If so, how long do you have to work for them without having to repay the cost of tuition? Usually you are bonded for two to three years and of course the company do not expect you to leave the company after that.  However, on the other hand, it would be unfair to let yourself be held hostage at a meager monthly sum and $100,000 less per year than another company would pay you because of a $20,000 repayment required should you decide to call it a day.  If the company did not pay  part of your tuition, then I think you don’t have to consider that in your decision calculus.   There are more reasons than salary to stay at a job.  For one, in this economy, any job is a blessing and there are people who would love to take your place.  Work-life balance is another huge one.  Sure, you can make more money somewhere else, but are they going to let you work one day a week from home?  Sometimes location really gets you–if you live in a less populated area, switching jobs can mean moving, and you don’t want to uproot everything for a strange new work place and town.

But then, you decided you want to stay.  You just want to be recognized for your skills and experience.  Let's think about what should you be thinking then :

1. What is it that you can and couldn’t do before your MBA?  Note that I said “do” not “know.”  You may know a ton more, but does that translate into things that are helping your company?  For instance, you may have studied complex international finance policies in school, but if your company deals with nothing more international than ordering Mexican food for lunch, it’s not helpful to them.
2. Why would they list a vacancy at a higher salary then you are making?  How in the heck should you know?  Well, if you think you need to know, Go ask.  Ask straight out what it is that you are not doing that they expected someone in this position to do.  Expect some sputtering.  It may well be a case of stupid policy, such as not giving an existing employee more than a 10% increase.
3. Are you prepare to make more money elsewhere? We all are sure we’re fabulous and all that, but could you really make more elsewhere?  Say you only have 2 years of technical experience plus the MBA.  The market is flooded now in the marine and offshore sector, so they may well be paying you precisely what you’re worth to them.  It’s not the job of a company to pay you what you need to live your chosen lifestyle.  It’s their job to pay you in accordance with the amount you can help the organisation or section. And remember in big organization, no one is indispensable no matter how high or senior you are in the company.
4. Do you need to asked directly for a raise? You say you got a fabulous retention bonus, EVA, extras,etc.   Your bosses may think, “Gee, weren’t we generous with that retention bonus?” and have no plans to give you a raise.  They may not know that you think you deserve one.  After all, they may feel like they’ve adequately compensated you for your increased skills.  You need to spell it out for them.
5. Do you need to show that you are more valuable. Make a list of all the functions you do, along with a description of how you do them.  If you have the chance to write a self-appraisal, now is the time to do so.  If you need to, try to make it obvious that you are underpaid.  Make it extremely obvious that you are technically experience and well informed on the technological arena.  This is not the time to be modest.  Save that for dinner with your in-laws.
6. If you need to be moving on. It’s a sad truth, but sometimes companies just won’t ever appreciate you or realise how you have contributed to the organisation until someone else wants to buy you out.  But, if you’ve talked repeatedly about your undying devotion, or how you can never leave because you live across the street, they just won’t see any reason to increase your salary.

Personally, the three letters MBA on your resume are not going to make you automatically more valuable. I have my MBA and believe that without a doubt it has helped me to grow into the position I have today. I am also very fortunate to have given another Master course to pursue after my p/t MBA and this really given me another overview of the marine technology where everyday I am still in the learning process. I would not have achieved what I have without the skills I've learned along the way. An MBA rounds out a person's skills to help bring "the big picture" into perspective. In time, the rewards will come from the value you'll bring to a team....not three letters behind your name.

P.S. Never try to go to your employer with an offer from another company. That would be your biggest mistake if you somehow foolishly err on this move. Even if some company try to buy you out, you've planted the seeds of disloyalty with your present one and you'll ruin your career in the long run or at least make a bad name in your record. Instead, try approach with why you feel you deserve more but do not try to be hardup. If they choose not to pay you what you feel you're worth, then you can actively seek other options with a clear conscious.

Having an MBA is a sign of potential, not performance, so the key question is to identify how performance has changed as a result of the MBA. One reason I find p/t MBAs - where students continue to work while doing their studies - much more successful (for both the student and the company) than f/t MBAs is that the student has many opportunities during the program to discuss their learning with their peers and bosses and put new ideas into real practical practice. They can put markers down about their improved performance as they go along. This makes it much easier to negotiate job changes and pay rises after the studies have been completed.

Need SWOT check on your business health !

When you are running your own business, be it small or medium enterprise, having some understanding of basics and knowledge of the financial health of your business is fundamental to helping you decide what you can and should do. It is not just leaving it to your managers to provide you the financial statement and telling you the bolts and nuts of each underlying dollar value terminology. Plenty of information on the financial health and performance of your business can be obtained by analysing your financial statements through various financial ratios. Comparing these ratios against past performance and similar businesses will help you identify the strengths and weaknesses of your business. You need to look at historical datas of your business trends and where is it moving on, you could also do better forecasting and check on your inventories looking at the overall market situation.

The SWOT analysis ( one of the "must" topics in MBA course for years and I am not sure if this theory still going to stay for long ) is a valuable step in your business situational analysis. Assessing your firm’s strengths, weaknesses, market opportunities, and threats through a SWOT analysis is a very simple process that can offer powerful insight into the potential and critical issues affecting a venture.

The SWOT analysis begins by conducting an inventory of internal strengths and weaknesses in your organization. You will then note the external opportunities and threats that may affect the organization, based on your market and the overall environment. Don’t be concerned about elaborating on these topics at this stage; bullet points may be the best way to begin. Capture the factors you believe are relevant in each of the four areas. You will want to review what you have noted here as you work through your marketing plan. The primary purpose of the SWOT analysis is to identify and assign each significant factor, positive and negative, to one of the four categories, allowing you to take an objective look at your business. The SWOT analysis will be a useful tool in developing and confirming your goals and your marketing strategy.

SWOT analysis

You should undertake a SWOT - strengths, weaknesses, opportunities and threats - analysis to determine the state of your business, its capacity to recover now the downturn is over, and what additional capacity may be needed.

When analysing opportunities and threats, you should:

·  Research changes in customer taste

·  Research how the tough times have affected your suppliers and competitors.

·  Determine what changes may need to be made, including adding capacity to your business, shifting capacity or disposing of excess capacity.

Review your business plan and rewrite where appropriate

You should review your current business plan to ensure it reflects the capacity of your business and the the ability to grow that capacity. You should consider where you want to take your business and understand any uncertainties that remain. Important areas to focus the plan on include:

·  How to expand capacity

·  How much such expansion is likely to cost

·  How the business is going to pay for such expansion.

Focus on innovation and efficiency

When a business is in recovery mode, it is likely to become more innovative while keeping a strong focus on efficiency. Areas innovation should be limited, while staff should be empowered to search for new opportunities. To ensure limited resources are focused on the most promising innovations, pre-action reviews of projects should be undertaken.

Take advantage of opportunities

Businesses that now find themselves in a strong financial position should consider opportunities to expand. Opportunities may be favourable, as some asset prices remain depressed.

Review and revise your marketing plan

You should consider reviewing and revising your marketing plan. Such a plan should reflect the likelihood of limited resources continuing to be a constraint on marketing activity. It is, therefore, important that your marketing plan be focused on helping improve the cash position of your business, its profitability and promoting any new - or revived - products and services.

A marketing plan for a business seeking to recover should:

·  Focus on sales that have high margins and bring in cash quickly

·  Reward staff for sales of higher-margin products and when payment is received

·  Avoid discounting, unless it can achieve a better gross profit margin through increased sales

·  Measure the success of each promotional activity or campaign

·  Encourage customers to pay at the point of purchase or pay early.

Remain focused on improving cash position

Focus on improving your cash position by improving working capital management - such as by reducing stock levels, increasing the percentage of cash sales and reducing the time you give debtors to pay. Such moves add to your cash reserves, which can be an important source finance.

Focus on improving profitability

Amid the recovery, discounts and other incentives introduced to improve your cash position during the tough times should be removed, so you can focus on improving profitability. Increased profitability builds retained earnings, creating another internal source of finance.

Funding recovery efforts

When considering borrowing from a bank, a business should:

·  Determine what the funds are to be used for and the time they are required

·  Be realistic about the amount of funds that can be afforded

·  Determine the level of security that can be offered

·  Start early.

Addressing weaknesses in your business

The actions a business may have taken to get through the slowdown can have negative consequences that may need to be addressed amid the recovery. Activities that may need to be undertaken to address the consequences of actions taken during tough times include:

·  Increase stock

·  Pay down high-priced external debt

·  Broaden the focus of sales

·  Revisit staffing arrangements

·  Beware of a false recovery.