Monday, September 13, 2010

Leadership: Humility


When people are given more information, they grow more confident in their ability to solve the problem. However, their actual results are not better. Sometimes, they are worse. Overconfidence is “the disease of experts.” They think they know more than they actually do know.

In fact, they make mistakes precisely because they have knowledge. They grew arrogant, over-confident and didn’t prepare for possibility. The lesson is this: In times of crisis, we think we need leaders who are bold and confident. This is completely wrong-headed. What we really need are leaders who are humble and willing to listen.

As leaders ourselves, how can we avoid becoming overly confident? Three ways:

1.Listen to those around us.
We cannot afford to create a culture that is not safe for dissent. Our people need to feel the freedom to disagree with us and tell us the truth.

2.Plan for contingencies.
We might be right. We might be wrong. We need to accept this and create a plan A and a plan B. We can’t afford to assume that our plans are infallible.

3.Enlist the help of our team.
When organizations are small, they can be run by a single, entrepreneurial leader. But when the organization gets bigger than about 150 people (according to Gladwell) our leadership has to change. It must become a more collective, collaborative effort.

The good news is that, as leaders, we can learn. We can grow. But above all, we must remain humble. If we don’t, we risk large-scale, public failures that will have a catastrophic, negative impact on the people we are trying to lead.

Leadership: Personal Development

















TRYING to emulate Gandhi or Jack Welch (or whichever other inspirational leader is your management hero) is a waste of time. Up-and-coming leaders would be better off correcting their own flaws rather than imitating others’ greatness.

It is quicker, easier and more effective for us as managers to stop doing the things that demotivate people than it is for us to bolt on radically new techniques from acknowledged inspirational leaders. People the world over are more likely to be disaffected, disengaged or demotivated by their managers than motivated or inspired.

Seven failings of really useless leaders:

Killing enthusiasm through micromanagement, coercion and disrespect;

Killing emotion by being aggressive, lacking empathy and not supporting work-life balance;

Killing explanation through incomplete or inconsistent communication;

Killing engagement with limited team goals and an insistence on managers dictating objectives;

Killing reward by rewarding the wrong things or doing it in the wrong way, for example, by offering a cash bonus to someone who is not motivated by money;

Killing culture, for example by ignoring differences in working cultures when managing mergers between organisations or by “punishing risk- taking” while trying to introduce a culture of innovation; and

Killing trust by making unfair decisions when hiring or rewarding staff.

Organisations that want to improve their leadership development should make room for informal one-on-one discussions alongside official training programmes; support experiential education; and provide coaching and mentoring.

Tuesday, September 7, 2010

Do Good To All


A woman baked bread for members of her family and an extra one for a hungry passerby. She kept the extra bread on the Window-sill, for whosoever would take it away. Everyday, a hunch-back came and took away the bread. Instead of expressing gratitude, he muttered the following words as he went his way: "The evil you do remains with you: The good you do, comes back to you!"

This went on, day after day. Everyday, the hunch-back came, picked up the bread and uttered the words: "The evil you do, remains with you: The good you do, comes back to you!" The woman felt irritated. "Not a word of gratitude," she said to herself... "Everyday this hunch-back utters this jingle! What does he mean? "

One day, out of despiration, she decided to do away with him. "I shall get rid of this hunch-back," she said. And what did she do? She added poison to the bread she prepared for him! As she was about to keep it on the window sill, her hands trembled. "What is this I am doing?" she said. Immediately she threw the bread into the fire, prepared another one and kept it on the window- sill.


As usual, the hunch-back came, picked up the bread and muttered the words: "The evil you do, remains with you: The good you do, comes back to you!" The hunch-back proceeded on his way, blissfully unaware of the war raging in the mind of the woman.

Everyday, as the woman placed the bread on the window-sill, she offered a prayer for her son who had gone to a distant place to seek his fortune. For many months, she had no news of him.. She prayed for his safe return. That evening, there was a knock on the door. As she opened it, she was surprised to find her son standing in the doorway.


He had grown thin and lean. His garments were tattered and torn. He was hungry, starved and weak. As he saw his mother, he said, "Mom, it's a miracle I'm here. While I was but a mile away, I was so hungry that I collapsed. I would have died, but just then an old hunch-back passed by.

I begged of him for a small part of his food, and he was kind enough to give me whole bread. "As he gave it to me, he said, "This is what I eat everyday: today, I shall give it to you, for your need is greater than mine!"

As the mother heard those words, her face turned pale and red. She leaned against the door for support. She remembered the poisoned bread that she had made that morning. Had she not burnt it in the fire, it would have been eaten by her own son, and he would have lost his life!

It was then that she realized the significance of the words: "The evil you do remains with you: The good you do, comes back to you!" Do good and; Don't ever stop doing good, even if it’s not appreciated at that time.

Monday, September 6, 2010

Medical Insurance


PETALING JAYA: Rising medical costs have prompted more Malaysians to take up multiple health insurance policies, with some even extending their cover up to the age of 100.

A check with several major insurance firms showed good demand from the working population on extending their medical cover until at least the age of 80.

Industry experts attributed the growing demand to healthcare costs escalating at between 13% and 15% annually, longer life expectancy and more patients turning to private hospitals to avoid long queues at public hospitals.

As most employers do not provide post-retirement medical coverage, more working people aged between 25 and 50 are taking up private medical insurance policies to avoid exhausting their savings should they be stricken with a major illness.

Prudential Assurance Malaysia Bhd chief product and marketing officer Heng Zee Wang said someclients were buying more than one medical plan to ensure they had “sufficient cover all the way.”

“Each medical plan comes with an annual claim limit. If a person is hospitalised and the bill exceeds the existing limit, the patient will have to pay the remaining amount from his own pocket if he or she does not have a second policy,” he told The Star.

Heng said more insurance companies were now offering policies that covered a longer period as Malaysians were living longer due to improved living conditions and medical advancement.

“The average life expectancy of a Malaysian male and female was only 55.8 years and 58.2 years respectively in 1957. Today, it is 71.9 years for men and 76.9 years for women.

“By 2050, the average lifespan is expected to increase to 77 years for men and 82 years for women. This upward trend presents a need for insurance companies to provide medical plans that would cover the policyholders beyond the current life expectancy,” he said.

Heng cited as an example, the firm’s PRUhealth policy which was sold as a rider to its investment-linked insurance plans and provided comprehensive coverage up to age 100.

A 70-year-old client who buys the PRUhealth plan will pay about RM480 a month as premium (for cover expiring at age 80), or RM611 for cover expiring at the age 100 based on the lowest plan PRUhealth100.

For those aged between 26 and 30, the premium for the plan with cover expiring at age 80 starts from RM94 a month.

MAA Healthcare and Medical Insurance assistant vice-president (accident, health & group) Chong Chee Yoong said they had received “very good” response towards their guaranteed renewable medical policy until the age of 80.

“Malaysians are finding private medical treatment to be more expensive,” he said, adding that medical policies now contributed 15% of the company’s new business.

“By setting aside some reserve funds in the form of insurance premiums, policy holders when faced with a claim on critical illness, will not need to deplete their bank accounts, EPF savings or sell off assets to pay for medical treatment.

“It’s good to buy when one is healthy and have a medical savings plan in case of a rainy day. When the insured retires, this is the age that the health condition will already have changed and treatment will be needed most,” he added.

An insurance consultant with AIA concurred, saying it was important to take up an insurance policy when one was in good health. “This is because you may not be able to buy it when you need it most,” he said

Thursday, September 2, 2010

Leadership: Growth Mind-set


WomanAt every age, people with flexible mind-sets continue to learn new skills. In contrast, people with fixed mind-sets tend to see their own talents and abilities as limited and are often threatened by fresh thinking that challenges their beliefs. You can see how these mind-sets relate to optimism and pessimism and how a flexible, growth mind-set fuels dynamic leadership.

Good things and bad things happen to everyone. What makes the difference is how you work with this raw material of life. Over and over, the women leaders we've spoken to talked about opportunities and how they didn't hesitate to take them.

As we dug deeper, we discovered a recurring theme: These women approached new situations for their possibilities. When they had job offers in new fields, they leapt, believing that they could learn and grow.

Are you daunted by risk?
And just as interesting, these successful women were not daunted by the risk-indeed, they found it exciting. When they were deciding on a new path, they would ask themselves, "What's the worst that could happen? Getting fired!" And when that happened to some, they bounced back, feeling lucky about their next opportunity. More than a few mused, "When one door closes, another opens." Their examples prove the point.

Now, consider how you typically think about things: Are you fixed in your thinking, or are you flexible? Are you happy to stick to your routine and uneasy when circumstances force you to change? Do you explicitly or implicitly limit what you are capable of? Or are you always open to new ways of doing things?

To test your mind-set, fill in the blank in the following statement: I could be an amazing architect if...

Fixed fixed mind-set vs. growth mind-set
If your answer was something like "if I could visualise spaces" or "if I could do math," you are showing a fixed mind-set, hyperaware of your limitations (real and imagined) - the reasons you can't do something. Typically, this is the response of someone who won't push herself to improve and, as a consequence, her ability to grow diminishes. She's judgmental about herself and probably about others.

If, by contrast, you filled in the blank with "if I wanted to" or "if I put my mind to it," you may have what psychologist Carol Dweck calls a growth mind-set. People with a growth mind-set believe that nothing is predestined; their own work determines their success. These are people who shape their futures by pursuing opportunities to learn and grow, absorbing the shocks along the way and turning feedback into blueprints for progress.

Look around you. The connection to success is clear - the happiest and most successful people are those with a growth mind-set.

Look failures in the face
Wouldn't you rather have a growth mind-set that leads to a psychological resilience that can help you handle adversity? As Dweck writes, people with growth mind-sets can "look failures in the face, even their own, while maintaining faith that they [will] succeed in the end."

That's what we want for you. If you're starting out with a fixed mind-set, you can change it through conscious effort. Take a moment now to reflect on the career choices you've made and would like to make.

Complete this sentence: What I would love to be doing is...

Are you doing what you love?
Are you already doing what you love? If you aren't, what is in your way? People with fixed mind-sets can give a long litany of reasons not to try: It's not practical, there's too much risk, I don't have the skills, everyone will laugh - we could go on. Optimists don't waste their time and energy when they could be moving forward.

So let's stop right here and right now and be more like them: Choose to see reality without the distortions that chip away at your self-confidence and self-regard. Choose to feel in control, able to learn and fix almost anything with help from others. Choose to recover quickly from a mistake or even a colossal failure. If you look at your choices and don't like what you see, you can choose to change your mind-set.

Make adaptability your skill
There's framing and then there's reframing in the moment, a related skill all leaders need. Today's pace of change, organisational complexity, and increasing specialisation make adaptability essential for you. Given our multiple roles, women are masters of adaptability at home.

Apply this capability in your work, letting go of the agenda when circumstances change. When the route you've chosen is not working, zoom out to see the bigger picture; you might just find a better way around the problem.

A matter of framing
Emma was adaptable from the start, when she found herself at a new school, freezing in a light dress. She drew on adaptability when she entered the white male environment of investment banking. Leaving a venerable bank to be an entrepreneur once again required her to adapt.

We can all learn to reframe what we see in a more realistic, productive, and positive light. We know it's hard work, but you've already taken the first step in your journey by getting to know yourself better. And you know, the first step is often the hardest one. You are on your way.

Networking


It is important to know the two Q's as you build out your network: quality and quantity. But have you considered the importance of having a well-rounded network?

During a time of economic uncertainty, having a strong network is critical to your professional survival. There are plenty of tips and articles on where to find people, how and when to connect to them and even what you need to say to attract and maintain your network. This article focuses on who should be in your network.

Here are the top ten people that should be in your network:

1. The Mentor:
This is the person who has reached the level of success you aspire to have. You can learn from their success as well as their mistakes. Heed their wisdom and experience. This relationship offers a unique perspective because they have known you through several peaks and valleys in your life and watched you evolve.

2. The Coach:
The coach is someone who comes in at different times in your life. They help with critical decisions and transitions and offer an objective perspective with no strings attached.

3. The Industry Insider:
This is someone in your chosen field who has expert-level information or access to it. This person will keep you informed of what's happening now and what the next big thing is. Invite them to be a sounding board for your next innovative idea.

4. The Trendsetter:
This is someone outside of your chosen industry who always has the latest buzz. It can be on any topic that you find interesting. The goal in having this person in your network is to look for those connections that spark innovation via the unconventional. It will also help you keep your conversations interesting.

5. The Connector:
This is a person who has access to people, resources and information. As soon as they come across something related to you, they are sending you an e-mail or picking up the phone. Connectors are great at uncovering unique ways to make connections, finding resources and opportunities that most people would overlook.

6. The Idealist:
This is the person in your network you can dream with. No matter how "out there" your latest idea is, this is the person who will help you brainstorm ways to make it happen. Without judgment, they are focused on helping you flesh out your dreams in high definition, even if you don't have a solid plan yet on how to make it happen.

7. The Realist:
On the flip side, you still need the person who will help you keep it real. This is the person who will give you the raised eyebrow when your expectations exceed your effort. These are not people who knock down your dreams, rather they challenge you to actively make your dream happen.

8. The Visionary:
Visionary people inspire you by their journey. They are similar to the Idealist, but the visionary can help you envision an actual plan to reach your goal. One personal encounter with this type of person can powerfully change the direction of your thinking and life.

9. The Partner:
You need to have someone who is in a similar place and on a similar path to share with. In fact, partners do a lot of sharing. This is a person you can share the wins and woes with. Partners will also share resources, opportunities and information.

10. The Wanna-Be:
This is someone you can serve as mentor to. Someone you can help shape and guide based on your experiences. One of the best ways to tell that you understand something is to be able to explain it to someone else. And sometimes, one of the best motivators for pushing through obstacles and hardship is knowing that someone is watching.

Last, but not least
Obviously you will want to have more than ten people in your network. The trick is to make sure you are building a diverse network by adding people from different industries, backgrounds, age groups, ethnic groups, etc. that fit into the roles listed above. Building a deep network by only including people from your current profession or business focus leaves too many stones unturned, limiting potential opportunities.

Serious about building a strong professional network that can actually provide the leverage you need to make progress at work or in your business? Evaluate your current network and get started filling in the gaps.

Body Language


"I don't understand why nobody takes me seriously!" says a young woman at a weekend course on assertiveness for women. The petite engineer smiles at the classroom. "I'm smart, capable and assertive," she says, "but no one respects me!" The entire classroom bursts out laughing.

Why? The secret's in the smile.

A picture is worth a thousand words
As the adage goes, a picture is worth a thousand words. Or, in this case, a smile: no matter how often we weigh in on workplace goings on, how brilliant our ideas, how Calvinist our work ethic, we are judged by how we present ourselves.

Research shows that it takes four minutes to make a first impression, and, according to a widely cited study by professor Albert Mehrabian, body language accounts for 55% of that impression (38% comes from tone of voice; the remaining 7% from our actual words).

First impressions are especially important for women in the workplace, where shaping perception and building a personal brand is paramount to success. Dr. Lois Frankel, career coach and author of the newly re-released Nice Girls Don't Get The Corner Office, makes it her business to give women advice on managing the impression they make and maintaining their reputation in the business world: "Your first impressions are your first opportunity to sell yourself, your business and your brand."

Don't diminish your credibility. Many are aware that body language can be a hindrance in presenting your best self, but it can also be a tool for managing other people's perceptions of you.
By identifying common body language behaviour, women can effectively manage others' impressions of them. For example, says Frankel, grooming gestures, most noticeably touching of the hair, or tucking hair behind the ears, can diminish a woman's credibility in a business setting.
The gesture is demure, she says, and can take years off of your perceived maturity level if done without thought. However, when delivering a particularly harsh message at work, purposefully making the same gesture can serve to soften the blow, or give the impression that you are more caring or empathetic.

Use it to your advantage. It boils down to awareness. If you're conscious of your body language ticks, you can manipulate them in certain settings and use them to your advantage.

Here are some of the more common behaviours we might not be aware we are doing:
· Tilting your head: A sign of listening that can be misinterpreted as one of submission or even flirting.
· Folding your hands on your lap: Hiding your hands under a conference table or desk, for example, signals untrustworthiness; a cue from ancient times, when men would reveal their palms to show they were unarmed.
· Crossing your legs: A sign of resistance.
· Excessive smiling: An indication that you lack gravitas and seriousness.
· Folding your arms in front of you: Translates to insecurity or defensiveness.
· Playing with or tugging at your hair, jewelry or clothes: This can signal distress or, again, be misinterpreted as flirting.

A mirror can do a lot. Many of these habits are deeply engrained and, even when we think we have expunged or learned to control them, tend to flare up when we are in stressful or nervous situations.

So, how do we mitigate these ticks, or even put them to good use, if we aren't even aware of them?

"A mirror can do a lot," says Kinsey Goman, executive coach and author of The Nonverbal Advantage. "Practice your speech a variety of ways - with your head tilted, your head straight - and note the difference. Practice your gestures. Gestures are terrific, but don't do them above the shoulder - you'll look too erratic."

Carey O'Donnell, president of Carey O'Donnell Public Relations Group, recommends videotaping presentations and then watching them without sound.

Who in God's name is that? "When we see ourselves in pictures, or especially on TV, we often say, 'Who in God's name is that?'" she laughs. "When you watch yourself without sound, pay attention to visual cues - are you waving your hands frenetically, laughing inappropriately when no one else is laughing, looking around nervously? Then watch it a second time for voice tone and bridges [such as] likes and you knows."

As for dealing with nerves beforehand, Theresa Zagnoli, founder and CEO of a communication and litigation consulting firm, recommends shutting the door of your office or retreating to the restroom and taking 10 to 20 deep-belly breaths. Another trick: releasing nerves by scrunching your toes - an act that, unlike fiddling with your hair or retreating back in your chair, will go unnoticed.

Zagnoli also preaches a tactic called "mirroring," which Frankel says can be particularly helpful when judging how prolonged eye contact should be, or what the appropriate posturing is for a given situation.

Don't change who you are : "The idea is that the more like the person you're dealing with you can become, the more you will connect," Zagnoli says. "Is the person you are sitting across from soft-spoken? Does he or she speak slowly, smile and laugh a lot? Is their pad on the desk or their lap, do they take notes copiously, are their legs crossed, are they leaning forward or backward? I take note of all these things and then chameleon myself to become more like that person."

Some businessmen and women balk at this idea - or at the idea that we have to transform ourselves in order to get ahead. But it is not a compromise, Zagnoli assures.

This - the mirroring, the mimicking and the suppression of bad habits or impulses - "doesn't change who you are," she says. "It doesn't change your heart, what is in your head, your ideas. In fact, changing how you carry yourself allows us to communicate those thoughts and feelings more fully."

A: Minimizing Yourself
Women tend to go out of their way to make themselves smaller. They keep their legs and hands together, slouch and sit back in their chairs. "In program photos for corporate events, if there are 20 or 30 people, a woman will always say 'I'll crouch down in front,'" says Carol Kinsey Goman, executive coach and author of The Nonverbal Advantage. "A man won't do that. By minimizing yourself, you are communicating that you are diminutive or submissive."

B: Demure Posturing
In meetings, women tend to sit tucked into a conference table, hands clasped in their laps, while their male counterparts take a more authoritative pose. Lois Frankel, author of Nice Girls Don't Get The Corner Office, says the power posture in meetings and conferences is: forearms resting on the table, hands lightly clasped in front of you, leaning slightly into the center of the group. This posture shows engagement and leaves you free to gesticulate.

C: Lady Like Legs
Similarly, sitting with one leg tucked under you is a girlish posturing that is best left behind closed doors or for more casual settings than a business meeting. The saying "both feet planted firmly on the floor" rings true, Frankel says. Indeed, sitting with both feet on the floor gives the impression of being grounded and level-headed, important traits in managing your professional image.

D: Smiling Too Much
While smiling is a wonderful way to make others feel comfortable, women tend to overdo it. Often, women will smile to take the edge off the negative, such as criticism or a reprimand. "The most important thing to keep in mind is congruence--that what you say and what your body looks like are aligned," says Kinsey Goman. "Incongruence will throw people." MRI scans have shown that when someone is smiled at, the brain lights up as if she has received a reward--if you smile while you are castigating someone, they might not even realize they are in trouble--and therefore won't take you seriously.

E: Weak Handshake
When we meet someone who offers their hand, we make an instant judgment in part based on the strength of the handshake. "When I get a wimpy, limp handshake," Frankel says, "I tend to dismiss [the person] as someone not to be taken seriously." A firm grip (not bone-crunching, Frankel warns) sends a clear message: You can feel comfortable with me--but be sure to take me seriously.

F: The Partial-Arm Cross
Many women stand with one arm crossed, hugging the other hanging by her side. Don't do it. "This is a frequent female position, and it demonstrates anxiety and low self-confidence," warns O'Donnell. The arm cross is seen as a partial hug, a comforting position that indicates the person is trying to soothe nerves.

G: Touching Hairs
Many women stand with one arm crossed, hugging the other hanging by her side. Don't do it. "This is a frequent female position, and it demonstrates anxiety and low self-confidence," warns O'Donnell. The arm cross is seen as a partial hug, a comforting position that indicates the person is trying to soothe nerves.

H: The Head Tilt
The head tilt is an ancient sign of listening, yet it is often seen in the workplace as a sign of agreement. It also can be misconstrued as acquiescence or flirting. Kinsey Goman recommends practicing saying something with your head tilted and then straight in front on the mirror--you will notice how much authoritative you'll appear when your head isn't cocked to one side.

New Takaful Licences

PETALING JAYA: Several international organisations were among four joint venture companies that were issued new family takaful licences following the approval from the Finance Ministry, Bank Negara said yesterday.

Those getting the licences are the joint ventures between

American International Assurance Bhd (70%) and Alliance Bank Malaysia Bhd (30%);

AMMB Holdings Bhd (70%) and Friends Provident Group plc, UK (30%);

ING Management Holdings (M) Sdn Bhd (60%), Public Bank Bhd (20%) and Public Islamic Bank Bhd (20%);

The Great Eastern Life Assurance Company Ltd (70%) and Koperasi Angkatan Tentera Malaysia Bhd (30%).

The four new licences, issued under the Takaful Act 1984, were given based on the applicants’ financial soundness and resilience, track record, expertise, business plan and contribution towards local financial sector development, Bank Negara said.

“The new family takaful operators have strong value propositions that will further enhance the development of the family takaful industry in Malaysia.

“This will help in penetrating untapped areas of business within the family takaful industry including microtakaful, medical and retirement products,” the central bank said.

It also said the new family takaful operators would also contribute strongly towards reinforcing Malaysia’s position as an international Islamic financial hub.

Bank Negara said that following the announcement in April last year on the issuance of two family takaful licences under the liberalisation of the financial services sector, it had received several strong applications for the family takaful licences.

“There are tremendous growth opportunities for the insurance and takaful industry in supporting the requirements of the economy,” it said.

An industry observer lauded the central bank’s move.

“The penetration rate for takaful in Malaysia is around 10% compared with conventional insurance which stands at around 40%.

“With more players coming in, competition will be steeper but customers can enjoy better pricing for the (takaful) products.”

An analyst said the joint-venture companies issued with the licences had the expertise to boost the local takaful industry.

“These are established players that can add value and depth to the takaful market.”

Another analyst said the move by Bank Negara was in line with the Government’s aim of making Malaysia an international Islamic financial hub.

“With the issuance of the licences, Malaysia is a step closer towards achieving that goal.”

Previously, there were eight existing takaful operators in Malaysia, namely

CIMB Aviva Takaful Bhd,

Etiqa Takaful Bhd,

Hong Leong Tokio Marine Takaful Bhd,

HSBC Amanah Takaful (M) Sdn Bhd,

MAA Takaful Bhd,

Prudential BSN Takaful Bhd,

Syarikat Takaful Malaysia Bhd and

Takaful Ikhlas Sdn Bhd.