Faith In Face of Failure

Successful leaders exhibited tremendous courage around the possibility, and even the inevitability at times, of failure. In the face of uncertainty, they draw on an inner strength that allows them to strive for what is possible rather than become paralyzed by the risk of failure.

Indra Nooyi, chairman and CEO of PepsiCo, on Learning: “The one thing I have learned as a CEO is that leadership at various levels is vastly different….As you move up the organization, the requirements for leading that organization doesn’t grow vertically; they grow exponentially….If you want to improve the organization, you have to improve yourself and the organization gets pulled up with you….Just because you are a CEO, don’t think you have landed. You must continually increase your learning, the way you think, and the way you approach the organization.”

Vicente Fox, former president of Mexico, on Humility: “The higher leaders rise, the further they move from where they began. The danger is that success will undermine their humility, leaving them out of touch and disconnected….There are so many temptations that would undermine your humility. You have to develop that part, work on it all your life. It’s easy to fall on the other side, especially when you are in power and have a position.”

Daniel Vasella, MD, chairman of Novartis AG on Stewardship: A vineyard owner pointed to a stone wall and explained how his grandfather had started building it and then his father added to it as did he. Vasella “found this to be a fascinating analogy. It’s like no great cathedral was build in one generation. There are several implications. First, you’re not here to take advantage but rather to add. Second, you will not finish. Third, it is very important that the overall vision of what is being built be shared by several people over time.”

Coach John McKissick, the “winningest” coach in football on Coaching:“I don’t coach football, I coach kids.” His code is “to live clean, think clean, and stop doing all the things that will destroy them physically, mentally, and morally, and to start doing things that will make them cleaner, finer, and more competent. That’s not a sacrifice. I tell them that all the time. ‘I’m helping you be a better person and a better player.’”

Leadership is all about the other person. No matter the topic—whether someone is being fired or has just told you about a serious health issue—that person should leave your office feeling better than when he or she entered.… For the CEO there is no off-the-cuff remark. Leadership demands introspection and an understanding of the clout that one’s words and actions carry.

As leaders, we need to keep learning. It’s key to our success. It’s sad how many leaders do not actively pursue their own leadership development.

12 Absolutes of Leadership

Lead. Anchor yourself in Humility. Leadership is an all-in proposition. Never react; instead ask yourself: is this about me or about we? If it’s the former, forget it and rise above.

Purpose. The why. Purpose must have a long shadow, extending its influence over others.

Strategy. Strategy starts with the results of today. Strategy, rooted in values and purpose, gives encouragement through times of ambiguity and uncertainty. Strategy without purpose and values is a short-term plan that is directed toward shallow goals.

People. When you.re the leader, it’s never about you, but it starts with you. The leader can’t be the star player, scoring all the points. (Although many try to do just that.) Set high expectations for your team members, and help them to see what they can achieve.

Measure. Don’t rely on what you believe to be true. Measure and monitor so you know if it’s true. Validate your data. Walk around. Talk to people. Listen. Look into their eyes and see for yourself whether the strategy is really working.

Empower. The leader’s job is not to empower people, but rather to help them to empower themselves. It’s the difference between ordering people to do something and inspiring them to see what they can do.

Reward. Employees work harder for leaders who demonstrate respect for their work. Authentic, purposeful praise is a power skill of the successful leader—everywhere.

Anticipate. As a leader, you must always have your focus on the horizon. Your first task is to hone your view of the present that you perceive around you and your organization. Grounded in this reality, you are able to raise your sights toward the horizon and beyond.

Navigate. Anticipation and navigation are complementary skills. It involves making decisions in real time that allow you to adjust, react, and outmaneuver the competition—always on the lookout for the unexpected.

Communicate. Communication is where leadership lives and breathes. That means more listening than talking. It’s not merely telling people what you think and what you know. It is a process in which you seek first to understand what others think.

Listen. Listen, learn, and then lead—in that order.

Learn. Knowledge is what you know. Wisdom is acknowledging what you don’t know. Surround yourself with a handful of people who will be your corrective lens, making sure that you focus and learn. Equally important, your inner circle should be made up of confidants who provide grounding and perspective, seeing you as a person rather than a function.

To lead is to make an emotional connection on a very real and human level in every interaction.

Why Not Versus No Way

If presented with an unusual way to solve a problem or achieve a solution, you may have reached a point in your career where you reject the “why not?” perspective that you may have embraced in your younger years and instead have adopted a more rigid “no way!” outlook.

You may also find that it makes more sense to reflexively point out the potential pitfalls of a new idea rather than recognize the possible rewards that it could deliver. While this defensive mentality may seem safe, comfortable and politically acceptable, it could also mark the beginning of the end of your employability. A common complaint among today’s professionals is that they simply don’t have the time to take on any new initiatives.

With job titles and roles eliminated, workers are doing tasks that used to be handled by two or three people, and they’re too busy trying to stay ahead of a bottomless workload to even consider adding to their to-do list. But if all they offer to their organization is the capacity to dutifully follow the bulletpoints of their job description, they’re walking around the office with a massive target on their backs when the next round of cost-cutting takes place.

Can these workers keep the company’s internal machinery oiled and running smoothly? Yes. But so can a long line of other people who may be able to do it more efficiently and less expensively.

The only option you have to preserve your job is to make it difficult, costly, and inconvenient for your company to let you go. And the only way to do that is to be associated with, responsible for, or in charge of the successful implementation of new ideas that bring highly desirable benefits to your department, your superiors, and your organization.

By having your name connected to a successful program that brings about noteworthy results, you transform yourself from being an anonymous and replaceable worker to a prized asset that your company needs. You make yourself essential, because you’ve made everyone around you look good.

If your organization is shortsighted and dysfunctional, they may not value what you’ve achieved, but the payoff for you is that you’ve made something happen that’s now an integral part of your resume, and that another company may deem useful – which could create an opportunity for a new and potentially better paying position for you elsewhere.

In terms of which new ideas you should embrace and support, you need to be strategic: just because it’s new doesn’t mean it’s valid, smart, or worth developing. If you take the time to examine and research opportunities that have been presented to you using a specific set of criteria, you can eliminate the risky ones and get behind the ones that offer the greatest chance of success (in addition to offering the best chance of enhancing your value as an employee, either within your organization or at another one).

Here’s a helpful list of benchmarks to use when considering new ideas that come across your desk:

• What’s the time and financial investment that’s required to see if the idea will work, as well as support it in the future if it’s successful?
• How long will it take for me to see if the idea is working or not?
• What are the benefits that the successful implementation of the idea can deliver, and are they in line with the goals of my department, my superiors, and the organization?
• How can my name be associated with the successful implementation of the idea?
• If the idea fails, how much of the responsibility will be associated with me, my department, or my superiors?
• If it succeeds, how much of the credit can be attributed to my department and my superiors?
• Will other companies in my industry become aware of the idea – and my participation in it - if it’s successful?

Just doing your job just doesn’t cut it anymore: while it may be challenging and time-consuming, there could be someone right over your shoulder who can deliver the same results faster, better, and cheaper. By embracing, developing, and launching successful new ideas, however, you’ll differentiate yourself from your co-workers, enhance your personal brand, and bring desired benefits to your organization.

You’ll also add years to your career and increase your value as an employee, whether it’s in your current organization or in another one that has a better understanding of – and appreciation for - your true worth.

Underinsured or No Insurance

Life insurance is a practical way to protect your family's financial hopes and dreams, yet millions of Malaysians have no life insurance coverage. Only 40 percent of adult Malaysian have life insurance protection. Some depend on group insurance, leaving them uninsurable if they lose their job or retired. When you purchase a life insurance policy, your primary thought is usually security for your family and beneficiaries. Knowing that there will be funds available for your final expenses, the mortgage and income replacement after you are gone can be a great comfort to your spouse or loved ones. The death of a family member can be devastating to survivors both emotionally and financially. Life insurance can provide cash to help with: * Immediate needs, including funeral expenses, unpaid medical bills and taxes. * Income replacement - to allow your family the chance to continue living the life to which they are accustomed. * Long-term needs, including the costs associated with maintaining your home, including child care, home maintenance, and extended care for a disabled child or elderly parent. * Life insurance is not for people who die, it's for the people who live. Spouse had been inadequately insured. Most households hit by a premature death saw a significant drop in income. * When you buy life insurance, you buy a promise of protection in the event of an untimely death.By planning for the inevitable now, your loved ones can be cared for in the future.

Insurance For All Seasons

60 percent of Malaysian households have no form of life insurance whatsoever, leaving millions to struggle to cover day-to-day expenses if a main breadwinner were to pass away. Even if you already have life insurance, financial and insurance professionals recommend that you review your policy periodically to make sure you and your loved ones are properly covered.

The amount of life insurance you need really depends on where you are in your life and your individual circumstances.
When wedding bells ring
Anyone getting married should also say "I do" to life insurance. Without a policy in place, there's no guaranteeing that your spouse and children would be provided for in the event of the unthinkable.

When you buy a home
Just purchased your dream home? Congratulations! In addition to taking out a homeowner's policy, you'll also want to take out a term life insurance policy. It may cost less than a whole life policy - and can cover the cost of your mortgage until it's completely paid off.

When you have a baby
Becoming a parent changes everything - including insurance requirements. Many families with a new baby haven't updated their life insurance protection. If you already have a policy, take the time to update your beneficiary designations.

When one spouse decides to stay home
The thing to remember here is that stay-at-home spouses continue to make a financial contribution to the family. Should that spouse pass away prematurely, the surviving spouse would have to cover expenses for child care, cleaning, cooking and other forms of home maintenance - and those can add up quickly.

When a child enters university
With the cost of higher education increasing every year, many parents end up co-signing on their kids' education loans. It's great that you want to help, but know that you'll be liable for the loan should tragedy strike. A life insurance policy on both the student and the parent will ensure school loans are one less worry.

When you open a business
Many lenders require life insurance on small business loans. It's with good reason since a separate policy protecting the business can help ensure that the business debts and operating expenses are handled. It can also give you peace of mind knowing that the policy you have for your family remains available for them when they need it.

When retirement is imminent
Leaving the workplace may mean leaving some life insurance benefits behind, so make sure you do a thorough review before the final quitting time.

When a divorce happens
Even though you're no longer married, you may still have people who depend on you financially. Review your policy's beneficiaries and what coverage is in place to protect any children you and your former spouse had together.

ETIQA Takaful Wins

ETIQA Takaful added another feather on its cap when it grabbed the Best Takaful Institution award at the prestigious The Asset Triple A Islamic Finance Awards in Kuala Lumpur recently. Just last week, Etiqa Takaful won three awards at the International Takaful Summit in London.

“Winning this award is another reflection of Etiqa’s success in leading the industry through our platform of humanising insurance and takaful. It is also a testament of our excellent business growth, profitability and financial strength,” said Etiqa Insurance and Takaful CEO Hans De Cuyper.

 The Asset Triple A Awards for Islamic Finance are Asia’s defining recognition for excellence in what has become one of fastest growing and most promising sectors of global finance. De Cuyper said, “We are honoured to win this award and we thank our customers, business partners and employees for making this happen. The award will spur Etiqa Takaful to continue to lead the industry in all aspects of our business”.

Etiqa continues to garner various international awards as testimonies of its leadership in the industry since 2007.

MDRT Goes Takaful

Many Malaysians do not understand the importance and difference between takaful and the conventional insurance, says Zuraidah Hanim Ibrahim, the first lady agent from Takaful Ikhlas Sdn Bhd to break into the Million Dollar Round Table (MDRT) ranks.

She said Malaysians were not aware of takaful coverage, as they often had the misconceptions on the differences between the Islamic and the conventional insurance. Only 10 per cent of Malaysians have takaful coverage compared to 42 per cent who have insurance coverage. The untapped market is actually is in the high-income market.  This is because they have no time to explore what is takaful and usually, they are insurance policy holders, yet looking for more and better coverage.

Zuraidah said takaful, an Islamic insurance concept grounded in Islamic muamalat (Islamic banking), observed the rules and regulations of Islamic law.  "In reality, it is better to have both kinds of coverage for a person, as both insurance structures give benefits in different ways," said Zuraidah, who manages over 1,500 Takaful Ikhlas policyholders.

On MDRT, Zuraidah said, with a personal production of family takaful for the first year contribution of RM461,000, she was able to make it to MDRT 2011, along with 7,000 other insurance and takaful agents from around the world. The minimum premium qualifying mark will increase every year, and for the MDRT 2011, the mark was RM420,000.  With the induction, Zuraidah, who runs her own financial consultancy via Subang Jaya-based Darul Asiah Consultant Sdn Bhd, joined the ranks of some 36,000 life insurers and financial services professionals from over 430 companies in 78 countries.  

The MDRT annual meeting is also designed to expose participants to innovative sales ideas in the life insurance-based and financial services business.  It will have about 100 speakers during its sales ideas breakfast sessions, motivational main platform presentations, educational afternoon sessions, and what it badges as insightful evening sessions. MDRT members demonstrate exceptional professional knowledge, strict ethical conduct and outstanding client service.