Today’s world is complex and complicated — the complex being challenging to understand, and the complicated being of many moving parts. It is also changing rapidly from all sectors and corners. Both the complexity and complicatedness of the world need intelligence for it to be broken down into simpler forms to be better understood — the former needing knowledge and the latter requiring experience.
Notes by EMA
Teamwork is a word that is often used and, perhaps, not understood at depth. At its most superficial levels, it is about getting along. That understanding is of the concept is what those who end up last in a competition manifest in their everyday behavior – pat people on the back and tell them how great they all are, no matter what they have done.
The Aboitiz Eyes team tells me that our readers have a great interest in leadership. That is good news because, at the end of the day, we have seen that people work for people, and not for companies. We would like them to be loyal to institutions and, of course, that is an educational and cultural goal, but they work for individuals — individuals they look up to, respect, learn from, are engaged by, motivated by, and have fun. “Fun” here being so much more binding of the above than too many realize.
‘Snowball’ is a biography of Warren Buffet by Alice Schroeder. It is 800 pages and well worth reading. Let me zero into one of the valuable lessons I picked up from the Berkshire Hathaway AGM and the study. –EMA
Aboitiz Eyes recently published committee structure of our Group. It struck me that, as much as we do need committees to manage a business like ours, our priority is still the customer and how to make him happy. Can we wow customers?
“Over the years, I have come to my premise that our most significant risk-cum-threat-cum-challenge is the law of unintended consequences and that our two most substantial assets are an engaged team that is in full attention 24 x 60 x 60 by seven.”
“Firstly, may I wish all of you a Happy New Year. 2019 just might be one of those marker years — like 1929 for Finance, 1939 for War, 1982 for wine and 1920 when Aboitiz & Company was formed.”
Let us talk about privacy. The media tells us that we care about our privacy, but we really do not. People love to gossip. People regularly and unabashedly tell other people the most personal details of their lives. People put on Facebook all about their experiences.
“Arafat died with 750 million US dollars in his personal estate. Had it not been for the creation of the State of Israel, he would have been known to his mother at most. The Jews had been forgotten before World War II. Where is the Coptic Church, anybody? Who would give a care about the Mossad?”
“What will TINA (there is no alternative) look going forward? What will there be no alternatives to? What will we have to adjust to or fail, or just win, or be the winner? Our goal has to be the winner.” – EMA
Capital is interested in only one institution – that of Rule of Law. Hong Kong was not democratic nor was it liberal but it had rule of law. Singapore seemed democratic but was not; nor was it liberal but it had rule of law and that protected capital.
Appreciating that the general opinion of the market is the goal of an enterprise is to provide long-term value. That is the main purpose that everyone working for an enterprise realizes in different degrees.
Yukon Huang – watch him on YouTube to get a full picture. This is a summary of what he thinks. I have learned from him. I have never liked conventional wisdom and have sought those that help me challenge the same; not for the sake of challenge but because in a world that is rapidly changing and adapting, conventional wisdom cannot generally be the best path forward.
I have received requests to share with you my thoughts and experience on leadership with more articles for Aboitiz Eyes. I am happy to do so yet must clarify again that these are my thoughts and those that I have learned from others. None of us get all of this right and that is what makes life so wonderful – the joy of improvement and of achieving better ways.
It has never been about right and wrong. Man invented this concept. The animal in us functioned with rules that are ingredients for winning or losing based on our basic instinct of survival.
“Interrogating the principles one stands by has to be up there in things to learn. Every 20 years I guess it is necessary to interrogate your choices and the principles that drive them.” – EMA
“The reason that there are so many different opinions on what traits are necessary for success—and the reason that so many of them contradict each other—is that successful people are complex.” – Travis Bradberry
“To persuade people to act, stimulate their stored up impressions, fears, hopes, desires and dreams. Tap into the powers of suggestion instead of making ‘in your face’ requests.” – EMA
“I think that the geopolitical risks of war are over and they are over for one reason – there is no longer any proﬁt in war. There is no longer anything to gain. On the contrary, there is a lot to lose due to the economic interconnection of the world.” – EMA
“Don’t be a blind contrarian, be an intelligent iconoclast – informed by careful analysis and often expressed in unusual ﬁnancial metrics that were distinctly different from industry or Wall Street.”
Alibaba is a company that is 18 years old, and it dreams of 2 billion customers all over the world and a trillion dollars of revenue by its 20th anniversary. Of that number of customers, 1.2 billion will be from outside China.
“Let’s not wait for the air to be too hard to breathe for us to start something. We need to be proactive rather than reactive. In a world where the only thing constant is change… then we need to know when to embrace what change is good.”
“Earlier this year, we flew a jeepney to QEV Tech Barcelona’s R&D center to assess how to improve their electrification and we are working on that. We could not wait so we brought in to Manila a half a dozen QEV engineers to work with a local jeepney manufacturing expert, the original makers of the jeepney themselves, the Saraos, to finally convert our quaint and unique jeepneys to electric.”
A decade ago we thought the whole economic world, and with it our socio-economic world, would fall upon us. It seems that man has again prevailed. I repeat – It seems. Self-healing seems to have functioned and now proceeding to strengthen.
Artificial intelligence is to be the most disruptive and important technology of our time. It will enhance our IQ and will replace the repetitive work that humans do. It cannot, however, replace the innovative and creative occupations – it cannot replace things that are done for the first time.
What is being done to those that are left behind in this world of Globalization is key! There are certain transaction costs of Globalization. It is not that China is taking away jobs, the U.S. losing them. Regulation is a serious problem everywhere – small, medium, and large.