Tadamitsu Matsui, the man behind Muji’s turnaround; Employees can raise any problems they encounter, come up with solutions and tweak their copy of Mujigram. These updates are synced across all stores.

Simply Muji

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Sunday, Oct 13, 2013

Natasha Ann Zachariah

The Straits Times

Lifestyle brand Muji might not put its name or logo on any of its products, but it is happy to shout about their quality. During an interview with Life!, Mr Tadamitsu Matsui, chairman of Japanese retail company Ryohin Keikaku, Muji’s parent company, emphasises no fewer than 10 times that Muji is synonymous not just with minimalist design, but also well-made products. The 64-year-old, who was in town last week for the opening of the seventh Muji store here in 313@Somerset, is not just paying lip service. When he took over as president and representative director of Ryohin Keikaku in 2001, Muji was in a steep decline. It had chalked up a deficit of 3.8 billion yen the year before and was closing stores worldwide. Its stock price plunged to just one-sixth of its original price. Read more of this post

Buffett Turns to Deputies to Help Find Successors for Unit CEOs

Buffett Turns to Deputies to Help Find Successors for Unit CEOs

Warren Buffett isn’t the only chief executive officer that Berkshire Hathaway Inc. (BRK/A) shareholders have to worry about replacing. Managing CEO turnover has become more demanding with the company’s expansion. Last week the Benjamin Moore paint unit named its third chief in two years, bringing in an executive who worked before with Ted Weschler, 52, one of Buffett’s investing deputies. Read more of this post

From salaried workers to business legends to failed tycoons: Were they too arrogant or is Korea no place for self-made entrepreneurs?

2013-10-13 14:01

From salaried workers to business legends to failed tycoons

Were they too arrogant or is Korea no place for self-made entrepreneurs?

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By Kim Da-ye
The chief executive officers who recently stepped down from the large conglomerates or corporations they had built on their own share a common background — they started their careers as salaried employees. These failed tycoons include Yoon Seok-keum of Woongjin Group, Kang Duk-soo of the shipbuilding-focused STX Group and Park Byeong-yeop of handset maker Pantech. Yoon was formerly an ace salesman at Encyclopedia Britannica. Kang’s first job was at SsangYong Cement, whose key affiliate he later acquired. Park spent his mid-late 20s at Maxon Electronics as a salesman. Read more of this post

Ray Kelvin, the founder and chief executive of Ted Baker, on how a Glasgow shirt shop has been transformed into a global fashion brand over the last 25 years

Ted Baker chief Ray Kelvin is as unique as his brand

Ray Kelvin, the founder and chief executive of Ted Baker, on how a Glasgow shirt shop has been transformed into a global fashion brand over the last 25 years.

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Ray Kelvin never shows his face in public – “I’m an ugly bugger,” he says. Ray Kelvin’s quirkiness, passion and rebellious style runs through everything that Ted Baker does Photo: Martin Pope

By Graham Ruddick

6:00AM BST 14 Oct 2013

Before you meet Ray Kelvin, the founder and chief executive of Ted Baker, you already know that he is not your average FTSE boss. A bit of reading on the history of the company tells you that he never shows his face in public, he makes people who are late to meeting do press-ups, and he loves to hug people. A lot.  But after a couple of hours in his company, here are a few more things that stand out about Kelvin – he beat Andy Murray at table tennis three days after the sportsman won Wimbledon, he spends his evenings “in front of the TV farting”, and he constantly plays matchmaker in the office. Read more of this post

Asian tycoons look to spin off underperforming businesses

October 14, 2013 9:42 am

Asian tycoons look to spin off underperforming businesses

By Paul J Davies

One is a tall, suave francophone African living in London; the other a small, Octogenarian multi-billionaire from Hong Kong. They look to have little in common, but Tidjane Thiam, who runs UK-based life insurer Prudential, and Li Ka-shing, the patriarch of the Cheung Kong and Hutchison Whampoa empire, are both acting under the influence of the same number – the price to book multiple that answers the question of whether, or not, they should spin off sections of their companies. Read more of this post

Entrepreneurship and sacrifice go hand in hand

Entrepreneurship and sacrifice go hand in hand

Published: 2013/10/14

THE closing ceremony of the Global Entrepreneurship Summit 2013 (GES 2013) in Kuala Lumpur literally finished with a big bang! We hosted 4,700 delegates, we showcased exemplary young entrepreneurs, we deliberated on the many challenges faced by entrepreneurs worldwide and we announced a new initiative named “MaGIC”! The audience also witnessed the passing of the baton from Malaysia to Morocco, who will host GES 2014. As I reflect on the achievements of Malaysia as the host this year, I can’t help but try to understand the true intention of President Barack Obama when he first conceptualised the GES four years ago in Cairo. He did so because he understood that freedom of opportunity is humanity’s most powerful motivator.  Read more of this post

15,000 foreclosed properties in Wenzhou pummeling guarantee companies

15,000 foreclosed properties in Wenzhou pummeling guarantee companies

Staff Reporter

2013-10-13

Wenzhou’s banking authorities confirmed rumors of 15,000 houses in Wenzhou nearing foreclosure after surveying 42 financial institutions. It has assured the public that “the situation is under control,” though shaking guarantee companies might not second the opinion, the Shanghai-based Jiefang Daily reports. Wenzhou banks, as of the end of July, reported only 580 cases of foreclosed houses, and 2,584 houses with non-performing loans (NPLs). Of the 580 cases, 183 involved mortgages, and 397 involved mortgages with “collateral plus guarantees,” said the report. Read more of this post

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