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Running a business in Asia, says Sunil Puri, Senior Director of Center for Creative Leadership, is like driving a car at top speed on a poorly lit street at night, with a visibility of just 200 meters. The driver is the CEO and the board directors are the navigators of the trip.
John Clements CEO Carol Dominguez invited me to join Professor Marc Bertoneche of Harvard Business School in the John Clements Leadership series on the topic Managing Cash Flow During the COVID-19 Crisis. Marc reminded that cash is king (or queen), and more so today that it’s even like god (with small g)! He said there is a need to reward the cash culture in any business today — to shift the focus from profit and loss/balance sheet to cash flow. It’s very important to stabilize and keep essential operations going. Liquidity is of immediate concern. On the cash to cash conversion of a business cycle, these are his suggestions:
The Go Negosyo Woman 2020 Entrepreneurship Summit at the World Trade Center was a full house of about 8,000 participants. The summit highlighted women’s contribution in the Philippines and ASEAN with wonderful lessons in entrepreneurship, agriculture, style and substance, tourism, diplomacy, finding confidence and in life!
The Asian Bankers Association (ABA) celebrated its 36th annual event last Nov. 14-15 in the Philippines, hosted by Philippine National Bank (PNB), gathering a large group of top bankers and finance executives from 25 countries from Asia and key markets across the globe. ABA provides a forum for advancing the cause of the banking and financial industry in the region by promoting regional economic cooperation. ABA’s membership is composed of 100 of the leading banks and financial institutions in the Asia-Pacific region. With this year’s theme, “Reshaping the Asian Financial Landscape,” the conference tackled the relevant topics of sustainable financing, cyber-security and digitalization. The speakers were experts who shared their experiences and knowledge in the current trends of banking. Attendees discussed and shared experiences as they tackled the most relevant developments facing the Asian financial landscape today. At the forefront was the integration of digital technology into the financial landscape and how digital banking and the wave of technologies are now disrupting the banking industry.
It was full house at the Martha Stewart Leadership event sponsored by ANC at Sofitel. Who is Martha Stewart? Why is she such a big celebrity? She is the first self-made American woman billionaire who has consistently reinvented herself. She is the icon in lifestyle, baking and gardening, among others, and has built an empire in publishing and selling many Martha Stewart home items.
IN celebration of the Golden Jubilee Year of Financial Executives Institute of the Philippines, FINEX launched an ethics book entitled Ethics: Black White (or Gray)? which gathered essays and actual cases from 50 well-known personalities from the government, banking and private sectors.
AT THE BAIPHIL 3rd General Membership Meeting, corporate governance “guru” and guest speaker Dr. Jesus Estanislao emphasized that governance demands a focus on the long-term, realizing a great “vision” in five to ten years. Governance demands a focus on the institution and what the institution should become. Yes, people are very important, but cautioned against personalities. He said governance asks for a strategy, a set of priorities pursued across all the different facets of any business. The key focus is on priorities which must be inter-connected and mutually supportive.
ETHICS is defined as “the discipline concerned with what is morally good or bad, right or wrong, black or white.” It is the moral principle that govern a person’s behavior based on his values, conscience. We all like to be ethical, known to have integrity and be trustworthy. Who wouldn’t? Ethics is important so that what you say is believed in and is credible. When you say something or promise, do people, even your children or grandchildren, believe you, or take it with a grain of salt? Do you always tell the truth and deliver on what you promise? A good standard is “under promise and over deliver“ especially when there are dependencies beyond your control. There is a general feeling that ethics, defined as black or white, right or wrong, is now getting to be blurry or sometimes gray.