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Top 10 Reasons Why Leaders Fail

Top 10 Reasons Why Leaders Fail

DAN SCHAWBELTHE FAST TRACK 10 MINUTES AGO 0

Not everyone is meant to be a leader, but for those of you who are already leaders or aspiring to be leaders, there are a lot of lessons you can learn. Today, I’ve written ten reasons why leaders fail. It’s a collection of issues that leaders tend to have, especially in their first few years in those roles. It’s easy to get caught up in the act of leadership because you gain power, confidence and control, all of which can be your undoing. Here are 10 things that will get in the way of your success and hurt your team:

1. Leaders become selfish.

Leaders who have responsibilities seem to forget that they are there to support their team instead of themselves. They become power hungry and seek control instead of giving advice, mentoring and ensuring that the team benefits from their leadership. Read more of this post

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Value Partners’ Cheah Cheng Hye: A global financial crisis bigger than the one in 2008 is conceivable in five to 10 years.

Updated: Friday August 23, 2013 MYT 7:04:00 AM

A bigger global crisis possible

BY DAVID TAN
DAVIDTAN@THESTAR.COM.MY

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GEORGE TOWN: A global financial crisis bigger than the one in 2008 is conceivable in five to 10 years. Value Partners Group chairman and co-investment officer Cheah Cheng Hye said the crisis, which would not be V-shaped in nature, would bring about capital flights, volatile markets, rising inflation and social unrest. “The global financial crisis would have to do with the very serious deficits that cannot be financed. Developed and developing countries have over the years accumulated such deficits by making promises that cannot be realised in order to get re-elected. “These deficits would sow the seeds of future social and political unrest,” he said at a public lecture entitled From Journalist to Fund Manager, which was officiated by Penang Chief Minister Lim Guan Eng. Also present was Penang Institute chief executive officer Zairil Khir Johari. On Malaysia, Cheah said Value Partners was not bullish about the country. “Malaysia’s Government and household debts are higher than those in Indonesia, China and Thailand. Half of the country’s government bonds are held by foreigners, who would be the first to run in a crisis. “The Malaysian workforce is now less productive than the workforce in Thailand and the Philippines. Malaysia is also importing more oil than selling it,” he said. Read more of this post

Microsoft is fully acknowledging that the traditional software business model is dead with the rise of subscription-based cloud services; “The board is committed to the effective transformation of Microsoft to a successful devices and services company”

And Microsoft Is Giving Up On The Software Business!

HENRY BLODGET AUG. 23, 2013, 9:36 AM 2,357 7

Mario Tama/Getty

Yes, the headline news at Microsoft is that CEO Steve Ballmer is out. But a line lower down in the press release is also startling: “The board is committed to the effective transformation of Microsoft to a successful devices and services company,” one of the company’s board members said.

The effective transformation of Microsoft to a devices and services company.

In other words, Microsoft is fully acknowledging that the model that powered the company for more than 3 decades and made it one of the most powerful and richest companies in the world–sales of software–is effectively dead. That’s big news. Microsoft has used the “devices and services” language before–Steve Ballmer wrote about it in this year’s shareholder letter–but the challenge and magnitude of this transformation is much more profound than most people appreciate. And the idea of Microsoft as a “devices and services company,” especially one led by “devices,” would have been unthinkable only a few years ago. The traditional software model is, in fact, dead–or at least dying–but it’s only recently that Microsoft has acknowledged this so forthrightly. For more than a decade, Microsoft has been transitioning away from one-time sales of packaged software (Windows disks, for example) to multi-year services contracts. This has reduced the company’s dependence on one-time unit sales of personal computers and software licenses and allowed it to build a business in which more of its revenue is recurring. But the transformation of the tech industry from packaged software to services is now moving far beyond mere payment models. Cloud-based services are now supplanting local software installations and licenses across the industry, not just for consumers who use services like Google and Facebook but for massive corporations. And this is forcing Microsoft and other major IT vendors to retool their product architectures, as well as the way they plan, develop, and roll out new product features. Meanwhile, the trend recently re-established by Apple of selling integrated hardware and software devices has forced Microsoft to start building and selling its own integrated gadgets. This is a major transition, too. Continuing to “transform” Microsoft from being a company driven by massive releases of packaged software every few years to a “devices and services” company will not be easy. The company’s struggles in recent years will likely continue for many more years, regardless of who is CEO. But it’s encouraging to see that Microsoft now fully recognizes the challenge it faces. And it’s probably wise for the company to address this challenge with a change right at the top.

Here’s The Letter Steve Ballmer Wrote To Microsoft Employees Explaining Why He’s About To Retire Read more of this post

Why China’s wine exchange is crashing: 110-proof grain alcohol all tastes much the same

Why China’s wine exchange is crashing: 110-proof grain alcohol all tastes much the same

By Gwynn Guilford @sinoceros 12 hours ago

Imagine a stock that jumps 25.5% on its first day of trading, coming to rest at $159 a share. Three months later, though, shares tank, plummeting to $54. Now, 17 months after going public, it’s worth $58.70. Nope, it’s not Groupon. It’s “Crystal Shede 2012 Collector’s Edition,” a 110-proof rice wine (or baijiu, as it’s known) made by a Sichuan distiller called Tuopai Shede, and it brought in 77 million yuan ($12.4 million) from its public offering on the Shanghai International Wine Exchange (SIWE). Read more of this post

China Feels Emerging-Market Headwinds

Aug 23, 2013

China Feels Emerging-Market Headwinds

By Richard Silk

The wind-down of an extraordinary period of monetary stimulus in the U.S. could cast a shadow over China’s fragile growth, raising fears of renewed stress in financial markets and a hit to the budding recovery in exports. The flow of funds out of Asia—anticipating higher U.S. interest rates—has not yet hammered China as badly as some of its neighbors. That’s largely because China imposes broad controls on capital, limiting foreign investments in stocks, bonds and property as well as the money Chinese investors can send overseas. Read more of this post

Chinese Consumers Step Back, Pinching Firms; Canon, Nike and Apple Feel Squeeze in Economic Slowdown

August 22, 2013, 5:48 p.m. ET

Chinese Consumers Step Back, Pinching Firms

Canon, Nike and Apple Feel Squeeze in Economic Slowdown

RICHARD SILK

BEIJING—Companies as diverse as retailers and gadget makers are reporting weakened results from China, as the economic slowdown there blunts Beijing’s drive to make the nation’s consumers a bigger driver of growth. Last month, Canon Inc. 7751.TO +1.07% cut the Japanese company’s year-end profit forecast to ¥380 billion ($3.89 billion), off 16% from forecasts three months earlier, citing in part the slowdown in China. Nike Inc. NKE -0.72% reported falling China sales in its latest results, while British supermarket chain Tesco TSCO.LN +1.42%PLC is in talks with a local company, China Resources Enterprise Ltd.,0291.HK -1.51% about folding its 131 underperforming Chinese stores into a joint venture. Read more of this post

Fitch’s Charlene Chu Is the ‘Rock Star’ of Chinese Debt Analysis; At worst, Ms Chu predicts, a crisis is brewing. At best, China is at risk of a long, debt-laden economic slowdown.

August 22, 2013, 11:17 p.m. ET

Charlene Chu Is the ‘Rock Star’ of Chinese Debt Analysis

The Fitch Staffer Has Emerged as One of the Most Sought-after Experts on Chinese Finance

ALEX FRANGOS

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When top officials at the U.S. Federal Reserve want to understand the Chinese financial system, they meet Charlene Chu. Goldman SachsGS -0.74% which isn’t short of China experts, interviewed her and sent the transcript to its clients. And one of the world’s most influential investment firms calls her a rock star. From her cubicle in a Beijing office tower, Ms. Chu, who works for bond-rating firm Fitch Ratings, has emerged as one of the most sought-after experts on China’s increasingly risky financial system. Read more of this post

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