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Archive for the ‘Innovation’ Category

Why Risk Is Important

Posted by iBlog on May 13, 2008

“What is it about entrepreneurs that enables them to live so far on the edge? Do they thrive on the adrenaline of risk-taking?” This made me think of another question that I frequently encounter when people find out that I love ice climbing: “How can you live with the risk? Do you actually enjoy flirting with death?”

I think that these are all the same question, founded on the same implicit but ill-founded assumption: that risk equates to danger. Now, I am not going to try and convince you that there aren’t people who do love the rush of throwing the dice—with their life or their bank account. But just because someone won a multimillion-dollar windfall by buying lottery tickets with their retirement fund, or survived running a treacherous river without any training, the fact is not altered that what they were doing was gambling, not investing. The end result is as unrepeatable as it can be inadvisable.

Calculated Risks

So if it’s not the thrill of gambling, what does distinguish the serial entrepreneur and the ice climber from the population at large? For a start, they understand the very clear distinction between risk and danger. Second, and—perhaps most importantly—they know that there are ways to approach an otherwise dangerous task in such a way that the risk is reduced to an acceptable level.

In fact virtually everyone knows this, at least in some domain. For example, driving in good weather on a 12-lane freeway in a well-maintained car is something that a trained driver would not hesitate to do. Yet it could be near suicide (or murder) for someone who had never been behind the wheel of a car, or who was driving a vehicle without brakes. What is curious about human nature is that we sometimes seem unable to translate knowledge from such everyday examples into our workaday life.

Why do entrepreneurs and ice climbers repeatedly prompt questions of flirting with death and disaster? My best guess is that a lack of familiarity prevents nonpractitioners from seeing what lies behind the surface: the serious and conscientious preparation that such people bring to their respective activities. To illustrate this, let me tell you a bit about ice climbing.

Essential Requirements

Anyone who has ever walked on a frozen lake, gone ice skating or tried curling knows that ice is slippery and that it takes practice to move with any kind of confidence. Now imagine that the ice sheet is vertical rather than horizontal. This should give you some sense of the challenge of ice-climbing. But then remember there are four things that the prepared ice-climber brings to the base of any climb: training, tools, fitness, and partner(s)

The need for training is pretty obvious. One has to know what one is doing. Just as you have to learn the rules of the road in order to drive on the freeway, the ice climber has to be educated about technique, the appropriate use of tools and procedures, reading the ice, and the evaluation of objective hazards.

Tools have improved significantly over the past decades. Strapped to one’s feet, in a manner not unlike roller-skates (but much more secure) are crampons. These have one or more long, sharp, surrogate toes that you can kick into the ice, thereby giving purchase to your feet. In each hand one has a short, curved, ice axe that is designed to enable one to smoothly drive the pick into the frozen water, thereby giving you something to hold onto. In the event that someone above knocks off some ice, one wears a helmet to protect the head. For protection in the event of a fall, one has a rope firmly tied to a harness around the waist. While ascending, the climber regularly sets a hollow titanium screw into the ice. This forms part of a system of running anchors.

The rope attached to the climber’s waist is clipped to the anchor, from which it runs to another person who is anchored below, paying out rope—but also positioned to catch the climber with the rope, should a fall occur. Properly placed, the ice screw will hold the load, with the ones below it as backup.

Fitness is critical. It doesn’t matter how good my training is or how good my tools are: If I am halfway up a climb and run out of strength, I am a liability both to myself and my partner. The middle of a route is not the time or place to suddenly realize that it might have been a good idea to do some jogging, pull-ups, or other conditioning before setting out. If people want unnecessarily to put their lives at risk, I guess that is their prerogative. But they have no right to jeopardize that of their partner in the process.

The Element of Trust

This last point relates to the fact that the whole exercise is based on trust; trust in our training, our assessment of the situation, our tools, fitness, and—especially—our partner. You wouldn’t consent to being driven on the freeway by someone you didn’t trust, or who was impaired in one way or another. Nor would any reasonable person put their life in the hands of such a person in the mountains. Your partner is someone you trust with your life. Perhaps because of that, a partner is also the kind of person who makes the experience doubly enjoyable, being shared.

If all four of these factors are well considered and adequately addressed, the recreational ice climber can undertake routes with a margin of risk that is comparable to a typical urban bicycle commuter. If any or all of them is not adequately addressed, the consequences could be catastrophic.

The lessons for business are simple: the four considerations employed by the ice climber are exactly the same as those used by the serial entrepreneur or the effective business person. Of course it could be argued that the rich scope of business constitutes a much more amorphous challenge than a frozen waterfall. But that makes it all the more rash to proceed without carefully considering the following:

Training: What, in fact are the skills that would best equip me to engage this problem? Are they evident in my team? If so, how do I hone them? If not, how do I bring them onboard?

Tools: What tools are relevant to the problem? What are the potentially useful processes, technologies or other instruments that might give me purchase and protection throughout the exercise?

Fitness: How does one prepare? How rusty are my skills? What would constitute a warm-up exercise, or a “preliminary heat” that would let me find out if I were ready for the game?

Partners: No matter how good you and your team are, in most significant cases you will need partners. Do you have the right ones? My approach in this is simple: Get the best. If you can’t, you might want to question the wisdom of proceeding. After all, if they aren’t working for you, they may be working for someone on the other side of the table.

These basic points provide a skeleton on which you have the opportunity to flesh out your creativity. The more innovation and insight that you bring to determining the answers pertaining to each of these four points, and the more effectively you execute on the answers, the lower the risk of your endeavor and the higher the probability of success.

Are there any guarantees? Few. Yet if you fail, which you might, at least there is a higher probability that you will live to try again. But remember, business—like life—never was about certainty (as long as we rule out the proverbial death and taxes).

Finally, what struck me most about the question from Roger’s student—a student in an MBA program at Rotman—was the implicit assumption that risk was the domain of the entrepreneur, not him. If there is a single message in all of this, it is this: The most dangerous way of all to play it is so-called safe. Safe leads to atrophy and certain death—of spirit, culture, and enterprise. There is not a single institution of merit or worthy of respect in our society that was not created out of risk. Risk is not only not to be avoided, it is to be embraced—for survival.

Anyone for ice climbing?

Posted in Entrepreneurship, Innovation | 1 Comment »

Executives Role

Posted by iBlog on February 6, 2008

In a more monolithic type of company, it’s easier to identify issues around which people can rally. For more diversified companies, like Tyco, strategy is driven by the businesses, with appropriate input and guidance from the corporate center. That has proved to be a better approach for us than approaching it from the center outward.

Annabel Spring: I absolutely agree. Our role is to get feedback from the business units, overlay the global trends, and make sure that everybody has identified the right issues. We then prioritize the opportunities across the business units and provide a strategic element for that prioritization. Feedback from the business units is also critical for maintaining that entrepreneurial edge. Morgan Stanley is so specialized and yet complex and global, which is hard to balance.

Marius Haas: The CSO’s role is dependent on CEOs not only because they have the final sign-off on strategy decisions but also because of their skill sets, tendencies, and way of managing the business. The question becomes: how do you complement the CEO’s strengths and weaknesses? My job at HP is to lay out the key initiatives we need to focus on in order to execute the plan. What are the initiatives that could build extra capacity, enhance our plan, or bring incremental operating profits or revenues? We go through those questions to get a sense of which ones need to mature and which ones are clearer from an execution standpoint.

Annabel Spring: The market also affects the CSO’s role. When the market is up, the role addresses long-term vision and investment. When the market is down, it requires restructuring strategy. You have to be able to move with the market and with the CEO.

Dan Simpson: Is it your role per se that varies according to market conditions, or does the difference lie more in the issues you address?

Annabel Spring: “Role” is somewhat of an amorphous word. When the market is growing, it’s easier to see the big picture, sit back, and prioritize across opportunities. In a market downturn, it is very much a tighter, hand-holding role with the business units, and a much more operational one.

Stuart Grief: I find Textron going in the opposite position, which may highlight the difference between industrial and financial companies. When the company is struggling, there’s a need to step back and reexamine things. When the company performs very well, people sometimes believe the good times will continue forever.

The Quarterly: How does a company’s performance modify what the CSO does?

Dan Simpson: Performance changes the issue set, not the role. During performance shortfalls, consistency and conviction become more important—horizons are closer and you focus all the water on short-term fires. But it’s not uncommon for short-term fixes to create long-term problems. A downward spiral develops momentum and becomes harder to turn around. While nearly everyone focuses on the near term, a CSO must be an advocate for long-term health.

Marius Haas: That makes sense, but in our situation at HP, when the company wasn’t performing well, the solution required restructuring. The people running the business were so close to the business that they weren’t able to think outside of the box. The fundamental pieces were broken. We felt that driving for operational excellence was going to deliver more value for us in that period of time.

Stuart Grief: If a company’s doing poorly, one of the first worthwhile diagnoses is an assessment of the quality of the strategy and its execution. If you’re happy with the strategy, you just need to focus operationally to get it done. I wasn’t at Textron at the time, but in 2000 and 2001, the leadership realized, “We’ve got a dead business model. We have to rebuild the company and transform it fundamentally.” It was a strategic issue in need of rewriting.

Marius Haas: I was in a corporate-strategy team at Compaq about eight years ago, where the team spent way too much time focusing on the strategic, long-term view. The CEO liked this model, but none of the other executives felt there was any deliverable value. When I got into the role of CSO, I tried to build a bridge between the CEO and the executives in the business units. I wanted a model that pulled from all of them. You need to be able to dive into a business unit and become a core part of its strategy-setting and operational-excellence initiatives.

The Quarterly: How do you ensure that strategy is executed well?

Ed Arditte: At Tyco, it’s very clear. It is the responsibility of the businesses to act upon the plan, and it’s our responsibility, at the corporate center, to challenge and evaluate the plan. Once it’s approved, our job is to watch it and make sure the right people are being put on the bigger issues.

The Quarterly: When we surveyed 800 executives on strategic planning in 2006, one of the most striking results was that only 36 percent of them said that the strategic plan was meaningfully integrated with human-resources processes—incentive, evaluation, and compensation systems. Does strategy play a role in evaluations?

Ed Arditte: The responsibility is both in the short and long-term results. There has to be a balance, but there’s never a perfect answer for how you balance them. You need a dialogue that aligns resource allocation, people, and money with both the short and the long term.

Stuart Grief: Balancing the short versus the long term is the biggest challenge we have. How do you balance the trade-off between the short-term compensation lift from near-term performance and the investments—and therefore the depressed economics, short term—that make the long-term strategies pay off?

Marius Haas: An implementation plan that has clear milestones and owners is a must. Execution sits in the business units. At HP, we won’t make the hand-off until the business owner understands, accepts ownership, and acknowledges the need to deliver. As to the strategic plan as a whole, we’ve gotten a lot more disciplined. Now we can say, “Here are the levers within our plan that we need to execute in order to deliver. We know the plan, the capacity, and what we can do incrementally. If you’re going to show me a number, you’ve got to tell me how you’re going to get there.” Management has changed how people’s performance was going to be measured at a granular level.

The Quarterly: What’s the dialogue like, though, when a business unit presents a plan that doesn’t have steadily increasing margins, because the unit wants to make a long-term investment that won’t pay off until beyond the current planning period?

Marius Haas: We ask the business unit heads to build capacity in the plan and then reinvest that into areas they believe will be longer-term growth areas. Most of them have now divvied up their portfolios into three areas: emerging market opportunities and initiatives, mature but current businesses, and investments that help generate the required cash flow. We constantly look at that life cycle to see if those investments are in the right areas to generate longer-term growth.

The Quarterly: Is there any advantage to having a closer relationship with the finance function?

Annabel Spring: I think there is a significant advantage to being close to the CFO. I understand the budgeting and am involved in the process, both within the business units and at the corporate level. I’m part of the dialogue—which is critical for credibility and understanding the business. For Morgan Stanley in particular, being close to the CFO is important, given the number of transactions we do for the firm on a principal basis, because you need that back-and-forth relationship in order to be effective.

Ed Arditte: There’s always a debate about who owns the strategy process—accountants, financial-planning people, or business people? But it shouldn’t be a question of where it’s owned, but of who is involved in the process. Do they work together? Are they able to achieve alignment? Alignment is key to the process: it defines what you want to do and, more important, makes sure that everybody understands the priorities. Then you can allocate the resources, evaluate the progress regularly, and provide support when necessary.

Dan Simpson: People commonly confuse strategy and planning. Planning is primarily internal resource allocation and budgeting, which is clearly tied to finance. Resource allocation has to be driven by strategy but isn’t strategy in and of itself. Strategy should be focused on the marketplace and on customers and consumers. You must improve your position in the marketplace and have a clear idea about why people choose your products or services over someone else’s. At Clorox, we try to separate those conversations. One of the things we’ve done in the past is to bar financial components and exhibits from the first rounds of strategy meetings. That way, the discussion focuses on market competitiveness rather than on internal resource allocation.

Stuart Grief: One of the challenges we used to face at Textron, though, was that without finance being deeply involved in the strategic discussions early on, we risked the CFO undoing the strategy three months down the road. A personal relationship with the CFO is really critical—more than reporting to the CFO. Alignment is vital on the road to execution.

Marius Haas: Our plans require three things to be aligned: efficiency productivity, accelerating growth, and capital strategy, both financial and human. We’ve often taken resources out of the capital strategy to tackle inefficiency, generating capacity so we can invest in growth. In those cases, the triangulation of those key areas has been critical.

Dan Simpson: Execution problems are often symptoms of trouble upstream in the strategy-development process—the strategy process has failed to realistically assess current reality, to honestly understand organizational capabilities, to align key players with those who do real work, or, at the end of the day, to create a compelling, externally driven vision of success.

Ed Arditte: It depends on your organization and how centralized it is, but the more a strategic initiative is owned by the business units, the greater the chance of success. Many great corporate ideas fail in the business units because of a lack of ownership.

The Quarterly: What are the most important issues facing strategists today?

Stuart Grief: An important challenge is engaging with the businesses to think differently about what they do by helping them consider different business models, challenging the status quo, and avoiding complacency. It’s hard but necessary in an environment where competitors are more aggressive and diverse than ever.

Marius Haas: The biggest challenge for us is transitioning from an efficiency–productivity focus to a growth focus without dropping the ball on the execution of the efficiency–productivity side. The second challenge lies in migrating external influences and forces to our mainstream thinking. If the customer and technology are evolving, we’re facing an environment of accelerated consolidation in the competitive landscape. Getting ahead of the pack and being the ones consolidating—versus having to react to actions taken by our competitors—is very important.

Annabel Spring: I would echo the short-term versus long-term balance issues but add a layer of globalization. Short-term profit opportunities are abundant in the developed world, as long-term opportunities are in the developing world. You have to do both to get the continuous-growth profile we all need, but managing the timing is a very tricky thing—not to mention a core component of our role in terms of project prioritization, resource allocation, and long-term strategy.

J. F. Van Kerckhove: Given rising customer expectations for the online experience, the high pace of innovation, and the emergence of new business models, we need to sharpen our game continuously and faster than ever, as well as assess what elements of our past success we need to strengthen and from which we need to depart. In that context, our main challenge is strengthening our core business while rapidly scaling our new growth platforms and developing new operational and organizational muscles for our future success. Just as our company has grown rapidly, so has its organizational complexity. We are focusing on simplifying how we do business, creating alignment behind a few clear priorities, and stepping up our organizational agility and effectiveness.

Ed Arditte: As is probably true for everyone here, our businesses are exceedingly complex and growing more so every day. It doesn’t matter if this is driven by developed markets, emerging markets, financial markets, or technology—there are so many changes, and the pace has gotten much faster over the years. Taking a complex set of business issues and simplifying them is a key part of this role. We can’t do it individually, but we have to be facilitators of that process and get alignment around the truly important issues that will drive performance.

Dan Simpson: Externally, our toughest strategic issue at Clorox is the consolidation and globalization of both the upstream cost structure and the downstream retail trade, offset by extreme fragmentation in the media environment. Change in the last 20 years has been extraordinary, and the implications for brand equity and value creation and distribution are profound.

Internally, the toughest issues are exposing orthodoxies that constrain our thinking and options, as well as spreading priorities and resources across time horizons and business unit boundaries. Part of strategy’s role is to define external imperatives at a higher level so that investments spanning different time horizons or organizational units actually reinforce each other.

Posted in Alliances, Blogs & Wikis, Currencies, Deal Making, Emerging Web, Globalization, Google World, Green Movement, Growth, Innovation, Organizational Effictiveness, Pictures, Second Life, Social Entrepreneurship, Strategy Organization, Strategy Practice | Leave a Comment »

How To Make SEO Work For You

Posted by iBlog on September 12, 2007

You should also formally submit your site to the major search engines, which allows them to index it. Include at least Yahoo (YHOO), Google, and MSN (MSFT), Leff suggests, but don’t necessarily limit it to those three. People searching the Internet don’t all use the same search engines. “Research shows that older audiences still like AOL (TWX) and professional audiences tend to like MSN and Google, while younger audiences often like Yahoo. Only about one-third of users use one search engine consistently,” McPherson says. Knowing your audience will help you decide which search engines to optimize for. Go to their home pages and search “how do I submit my site?” to get easy instructions.

 Read the full article in BusinessWeek.com

Posted in eCommerce, Innovation, Sales & Marketing | Leave a Comment »

Forget Manga. Here’s Manwha

Posted by iBlog on August 23, 2007

American comics connoisseurs, add this to your personal lexicon: manhwa. It’s the Korean term for comics, just as manga denotes comics from Japan, and with a host of publishers bringing new manhwa titles to the States for the first time, it’s poised to become a household word among fanboys and pop culture mavens alike.

Read the full article in BusinessWeek.com

Posted in Creativity & Culture, Digital Media, Innovation | Leave a Comment »

Resolution Better Advertising

Posted by iBlog on August 22, 2007

You’ve hung a different calendar on the wall and now it’s time to think about things you might do differently this year. Whatever your personal resolutions, allow me to suggest a dozen of my own that might serve your company’s advertising well.

Read the full article in BusinessWeek.com

Posted in Advertising, Innovation, Sales & Marketing | Leave a Comment »

Business Organization In Thailand

Posted by iBlog on August 21, 2007

Basic Business Organization

By Ekkapon Yuangnark

There are many kinds of business organization for person who would like to do business in Thailand. However, the basic and most favorable are as followings:

1. Sole Proprietorship :

The Sole Proprietorship is an unincorporated business owned by one person. All the proprietor’s assets, both business and personal, are subject to attachment or other legal action which may be brought with respect to the business.

2. Partnership :

According to Thai law, there are three different types of partnership. They are (1) unregistered ordinary partnership, (2) registered ordinary partnership, and (3) limited partnership. A joint venture or consortium is deemed as kind of unregistered ordinary partnership but may be treated differently under the Revenue Code.

(A) Unregistered Ordinary Partnership

An unregistered ordinary partnership is one in which all partners are, without limit, jointly liable for all the obligations and debts of the partnership. The partnership cannot be regarded as a juristic entity separate from each partner, who must make a contribution in the form of money, properties or services.

(B) Registered Ordinary Partnership

If an ordinary partnership is registered, it becomes a separate juristic entity from each partner, who thereby gains the following advantages:

(1) The assets of the partnership have to be examined before creditors can claim debt payment from the partners. This is unlike an unregistered ordinary partnership, in which each partner is directly liable for debts incurred by the partnership.
(2) The liability of a partner for debts incurred is limited to two years from the date he ceased to be a member.

(A) Limited Partnership

(1) A limited partnership consists of two types of partner:
(a) one whose liability is limited to the specific amount which he has contributed to the partnership, and
(b) one whose has unlimited liability for all debts incurred by the partnership.
(2) A limited partnership must be registered and is regarded as a separate entity.
(3) It should only be managed by a partner who has unlimited liability.
(4) If the business of the partnership is managed by a partner whose liability is limited, that partner will become unlimitedly liable for all debts incurred by the partnership.
(5) Partners with limited liability are entitled to carry on business of the same nature as that of the partnership and are free to transfer their shares without prior consent of the other partners.
(6) Creditors of the partnership are not entitled to sue partners with limited liability unless the partnership is dissolved. Even then, creditor can claim only the following amounts:
(i) part of the undelivered contribution,
(ii) part of the contribution which has been withdrawn,
(iii) divined or interest received in bad faith or contrary to the law.
(7) New partners cannot be introduced into the partnership without the consent of all other partners. A new partner is liable for any of the partnership’s debts from time of his becoming a partner. Similarly, an ex-partner is liable for debts incurred by the partnership up to the termination of his right as a partner.

An ordinary partnership is dissolved if :

(i) Terms of contract of partnership provide for it.
(ii) A definite period of time descried in the terms of partnership has expired.
(iii) The partnership was formed for a single undertaking, which has been completed.
(iv) Any of the partners gives due notice to the others
(v) Upon death, bankruptcy or incapacity of a partner.
In (iv) and (v) above, the partnership can continue to exist if the remaining partners buy the shares of the withdrawing partner.

An agreement on how the profits and losses of the partnership are to be divided should be made between the partners of the partnership. In the event that no such agreement has been made, each partner’s share in the profits and losses will be calculated in accordance with the proportion of his contribution.

The partner should also make an agreement concerning the manner in which the business of the partnership should be managed. In the absence of such an agreement, the business of the partnership may be managed by each of the partners, who are jointly responsible for the acts of any other partner in the ordinary course of business. Relations between the managing partners and the other partners are governed by the laws of agency.

Unless consent is given by other partners, each partner is prohibited from carrying on any competitive business of the same nature as that of the partnership. If this does occur, the other partners are entitled to claim back any profits made, and/or compensation for any injury suffered by the partnership in consequence.

If the partnership is dissolved, liquidation shall take place unless ;

(a) some other method of property adjustment has been agreed upon by the partners,
(b) The partnership is adjudicated bankrupt.

Liquidation of a partnership must be done in accordance with the following procedure:

(i) Repayment of debts to third party.
(ii) Reimbursement of advances made and expenses incurred to the partners in managing the business of the partnership.
(iii) Return of each partner contribution.
(iv) Division of any remaining balance between the partners, as profit.

3. Limited Company :

Under Thai law, there are two types of limited companies, private company and public company. In this brief shall mention to private company only.

Limited company is a company which is formed with a capital divided into equal shares. The advantage of conducting business in the form of a limited company is that people can participate in large-scale business activities with their liability being limited to the amount unpaid on the shares held by them.

The procedure for forming a limited private company is as follows:

(1) The promoters of the company must file a memorandum of association. The memorandum of association shall contain the following information:
– the full name and intended location of the company,
– the objectives of the company,
– the intended location of the head office of the company,
– a declaration of the shareholder’s limited liability,
– the amount of share capital, and the value of each share,
– the name, address, occupation, and signature of each of the promoters together with the number of shares subscribed to by each.
(2) The official in charge of company registration will review the memorandum of association, especially the company objectives, to determine whether it is (a) against the law, or (b) detrimental to public morals. Once satisfied, registration will be granted.
(3) After registration, the company promoters will try to have all shares subscribed to. A private company is not permit to invite the public to subscribe to the shares.
(4) After all shares have been subscribed to, the promoters of the company must immediately call a general meeting of subscribers. This meeting is the statutory meeting, which should call :
(a) adoption of the company regulations,
(b) rectification of any transactions or expenses made by the company promoters during the formation of the company,
(c) determining and fixing the amount to be paid to promoters,
(d) fixing the number of preference shares, if any,
(e) fixing the number of ordinary and preference shares to be allocated as fully or partly paid up in place of money, and determining the amount at which they shall be considered as paid up, and
(f) appointment of directors and auditors and establishment of their respective power.
(5) After the statutory meeting, the promoters shall hand the business over to the directors.
(6) The directors shall cause the promoters and subscribers to pay up each share in money at an amount of not less than twenty-five prevent of the par value.
(7) When the above mentioned amount has been paid, and within three months of the statutory meeting, the directors must apply for registration of the company.

Regulation of the Company :
Shareholders will normally adopt company registrations. These regulations will be registered. They are deemed as the law governing the company’s business and binding the director, shareholders and outsiders in accordance with the company’s resolutions which require approval of the shareholders.

Management of the Company’s Business :
The company’s business is to be managed by the directors of the company as appointed at the meeting of the shareholders. The first group of directors are appointed at the statutory meeting and thereafter at the ordinary meetings. The directors have to manage the company’s business in accordance with the regulations passed at the first general meeting of shareholders. The regulations will usually specify which director(s) are to conduct transactions with outsiders. However, if other directors have an agency relationship with the company, they may conduct transactions which bind the company to outsiders. In this case, these directors will also be responsible to the company and the shareholders.

Although the directors have the authority to conduct all types of legitimate business on behalf of the company, there are some things for which they must obtain the approval of the shareholders at the shareholder’s meeting. These are :
(1) appointment and removal of directors(s),
(2) appointment of auditor(s),
(3) declaration regarding distribution of dividends,
(4) conducting business involving capital, fully or partly paid up in any form other than money,
(5) dissolution of the company,
(6) amalgamation with other company(ies),
(7) other matters recorded in the regulations of the Company.

4. Joint Venture :

A contractual unincorporated joint venture or consortium is not recognized as a unique legal entity under the Civil and Commercial Code, except, perhaps as a form of partnership, but these forms of organization are recognized under the Revenue Code.

5. Branches of Foreign Company :

There is no special requirement for foreign company to register its branch in order to do business in Thailand. However, most businesses fall within the scope of one or more laws or regulations which require a registration, either before or after commencement of activities and foreign business must follow the generally applicable procedures.

6. Representative Office :

By a regulation of the Prime Minister’s Office, special procedures were establishes for those companies that wish to establish branches in Thailand to engage in limited “non-trading” activities. These procedures are optional but may be beneficial in certain circumstances. If the business activities of a foreign company are limited to the search for Thai products to be exported to other organs of the company or to do quality control work associated with such purchase or to engage in market survey activities, it is recommended to register as representative office. If a company is accepted for this representative office, expedited visas and wok permits for up to two foreigners to work in the branch are available.

Posted in Articles By Author, Asia Business, Business Tactics, China Global, Consulting, Corporate Strategy, Entrepreneurship, Going Global, Hiring & Training, Innovation, International Business, Management, Researching, Small Business | Leave a Comment »

The Message Is Marvel

Posted by iBlog on August 20, 2007

Advertising glorifies and encourages competition — that much has been true since Pepsi first faced off against Coca-Cola on national television. But in this age of dotcom delirium, the fight to capture the attention of the masses has far surpassed the efforts of Spuds McKenzie, Joe Isuzu, and the tastes great/less filling warriors. By all accounts, today’s ads have gone decidedly weird.

Read the full article in FastCompany.com

Posted in Advertising, Creativity & Culture, Innovation, Internet | Leave a Comment »

Commercial Success

Posted by iBlog on August 20, 2007

To grasp what’s happening at Yahoo, look at two snapshots, then and now. Start with the late 1990s: The founders, Jerry Yang and Dave Filo, are barely out of their twenties, but these two boyish, scrawny Stanford computer-science grad-school dropouts still look and act a lot like teenagers. Infused with the idealism of the early wave of Internet pioneers, they say that they’re motivated not by starting a business or making money but by creating something useful for the community. Even though they’ve become instant multibillionaires, Dave — who grew up on a commune — remains compulsively frugal: He still lives in a cheap rental apartment, and he often sleeps on the floor of his open cubicle at work, which is strewn with junk. He wears T-shirts that he got free at hacker conferences, even if the shirts have logos of Yahoo’s rivals. Jerry and Dave’s colleagues play soccer inside the office in an open space across a glass wall that looks right into the boardroom, even while the board of directors — the grown-ups! — meets there. And they race their mountain bikes through the hallways of the company’s Silicon Valley headquarters. Jerry and Dave’s idea of a “power lunch” is the greasy glory of the In-N-Out Burger, which pulls its delivery truck into the Yahoo parking lot.

Read the full article on FastCompany.com

Posted in Advertising, Innovation | Leave a Comment »

Arc Animates AP in Asia

Posted by iBlog on August 9, 2007

Hewlett-Packard, the No. 1 PC seller in the world, is turning to animation for its latest Asia-Pacific interactive business-to-business push from Arc Worldwide in Singapore, part of Publicis Groupe’s Leo Burnett.

Read the full article in AdWeek

Posted in Advertising, Asia Business, China Global, Creativity & Culture, Digital Media, Innovation, Technology | Leave a Comment »

Westin Remakes N.Y Underground

Posted by iBlog on August 9, 2007

NEW YORK A picture of a blooming pink flower on an underground wall of a New York City train tunnel is not an homage from a Georgia O’Keefe appreciation society but part of a new $30 million campaign from Deutsch for Westin Hotels & Resorts.

Read the full article in AdWeek

Posted in Advertising, Hospitality, Innovation, Luxury | Leave a Comment »

Virtual Trade Shows Take Care of Business

Posted by iBlog on August 9, 2007

Virtual trade shows, expos and conventions are coming into their own. While event producers all insist that virtual shows won’t replace real-world shows, there are some decided advantages to attending, hosting or exhibiting at online events. Entrepreneurs save on the costs of travel, booth materials and employees’ lost productivity.

Read the full article in Entrepreneur Online

Posted in Advertising, Innovation, Sales & Marketing, Schmoozing, Small Business, Start Ups 101, Technology, Trends & Ideas | Leave a Comment »

A Perscription for Innovation

Posted by iBlog on August 9, 2007

The Mayo Clinic’s new SPARC lab is driving experimentation at the frontier of health care. How? By getting physicians to think more like designers.

Read the full article in Fastcompany.com

Posted in Creativity & Culture, Healthcare, Innovation | Leave a Comment »

The Future of Design

Posted by iBlog on August 9, 2007

Truth be told, most folks would find the thing, for all its aerodynamic curvaceousness, to be a pretty punishing piece of furniture. But for the crowd that already has a Warhol, a Koons, and a pickled Damian Hirst shark, comfort is hardly the point: Acquiring a piece of furniture built by a modern-design master is simply the next logical step in the fine art of filling one’s fine home with fine things.

Read the full article on Fastcompany.com

Posted in Creativity & Culture, Fashion & Beauty, Innovation, Online Retail | Leave a Comment »

Innovation Scouts

Posted by iBlog on August 9, 2007

How creative businesses in technology and media are unearthing new ideas in unexpected places–from an American Idol-style contest at Adobe Systems to eBay’s new “disruption” team. Meet the new cool hunters.

Read the full article on Fastcompany.com

Posted in Creativity & Culture, Innovation, Talent Development, Technology | Leave a Comment »

Failure is Glorius

Posted by iBlog on August 9, 2007

Has your latest project bombed? Have the past six months been a fast journey down a blind alley? There’s only one thing for you to do, says Alberto Alessi, manufacturing maestro and the godfather of Italian product design: Revel in your glorious failures. Dance on the borderline between success and disaster. Because that’s where your next big breakthrough will come from.

Read the rest of this article on Fastcompany.com

Posted in Creativity & Culture, Innovation, Motivation & Inspiration | Leave a Comment »