Smart investing is a free talk organised by ICPAS (Institute of Certified Public Accountants of Singapore). In the era of stock market crashes and financial turmoil, how to effectively invest and reduce risk are issues that plague many investors. We all know that putting our money in tin cans under our bed will work against us in the long run as the returns foregone will cause our wealth to shrink in this inflationary environment. Yet, even putting money into fixed deposits can be risky now with the collapse of numerous financial institutions.
The talk basically centred on the stock market more than any other form of investment. There was some academic sharing of the stock markets, such as the long-term returns of stock markets and the fundamentals of stock market performances from historical evidence. Laymen, like you and I, are probably aware of this basic information, such as both economy and stock markets work in cycles. However, what we often do not know is how severe or long a cycle is.
To invest smartly instead of speculatively, we also know that we often rely on some basic financial ratios as guide, eg the forecast or actual financial results of the companies, their debt-to-equity ratio (to check their liquidity), their price-to-earnings (PE) ratio to check whether their stock prices are overstated. Yet, we know that markets do not often perform efficiently because of the factors of market failures - people do not have all the information and most people do not act rationally.
The talk was certainly informative and educational. However, for many of us who were avid readers of Today's Business section, most of the points highlighted could be found in Today papers. To me, the talk affirmed the views reported by many financial analysts but delivered in a more anecdotal and light-hearted manner.
We should have more of such talks and to touch on other types of investment tools, so that we can raise the general investment awareness of more Singaporeans. This is so that more Singaporeans can take a more proactive approach preserving their wealth as well as be more discerning when unscrupulous fund or bank managers attempt to sell them unsuitable products.
October 31, 2008
October 26, 2008
Sampling at Supermarkets
What I have enjoyed most about the Japanese supermarkets are the ample samples available for patrons to try before buying. This greatly reduces the risk for consumers for many times, we are lured by appearances into buying something which are unpalatable. Not only is this a waste of food, it is also a waste of money.
I was very excited when I shopped at the basement of Takashimaya with its many counters offering a variety of snacks. From Hokkaido specialties, such as fish cake and ice-cream puffs to the French macaroons, you can have a small bite which either entices you to buy or put you off the food totally.
Alright, you may think it is embarrassing to try and not buy, I hold an entirely different view. When you try, you either like it or dislike it. When you dislike it, then you should not buy or it will defeat the purpose of sampling. Nonetheless, you cannot be greedy and hope to eat a feast at these supermarkets.
It is also a great 'advertising' tactic. Many risk averse consumers will stick to things or brands that they are familiar with. Only when they are convinced that a different choice is better will they switch. Some companies do this via word of mouth while some do this with sampling. Once I try for myself and can experience the benefits or great taste, although I may not eat it now, I will certainly try it in future.
I was very excited when I shopped at the basement of Takashimaya with its many counters offering a variety of snacks. From Hokkaido specialties, such as fish cake and ice-cream puffs to the French macaroons, you can have a small bite which either entices you to buy or put you off the food totally.
Alright, you may think it is embarrassing to try and not buy, I hold an entirely different view. When you try, you either like it or dislike it. When you dislike it, then you should not buy or it will defeat the purpose of sampling. Nonetheless, you cannot be greedy and hope to eat a feast at these supermarkets.
It is also a great 'advertising' tactic. Many risk averse consumers will stick to things or brands that they are familiar with. Only when they are convinced that a different choice is better will they switch. Some companies do this via word of mouth while some do this with sampling. Once I try for myself and can experience the benefits or great taste, although I may not eat it now, I will certainly try it in future.
JewelFest 2008
Who says only Tai Tais can look at the bling blings? Instead of hopping from retail shop to retail shop ogling at the sparkling stones, the best place to be is the ‘Concentration Camp’ – JewelFest 2008.
The big cream marquee outside Ngee Ann City houses both the well-known local and obscure overseas jewelers. From the simple elegance to the dressy extravagance, the buyers will be inundated with choices for jewellery. Some of the range, cuts and sizes are not available at the retail shops. For the serious buyers who are sourcing for unique and best value-for-money jewellery, this will be the best place.
Diamonds are girls’ forever friends. If you wish to know more about the size, the carat and the cut of the diamonds, many retailers will patiently explain to you, eg colour D is good, a well-cut diamond has 57-faces and will display either 9-arrows or 9-hearts when peer under the microscope. If you are into more elaborate designs, there are jewellery which are themed after the animals – eg snake and scorpion.
It is fine to just glance around but if you are going for the kill, you must certainly get your cards ready. Or you prefer to pay in wads of cash? The items may be value-for-money, they are not exactly dirt-cheap.
The big cream marquee outside Ngee Ann City houses both the well-known local and obscure overseas jewelers. From the simple elegance to the dressy extravagance, the buyers will be inundated with choices for jewellery. Some of the range, cuts and sizes are not available at the retail shops. For the serious buyers who are sourcing for unique and best value-for-money jewellery, this will be the best place.
Diamonds are girls’ forever friends. If you wish to know more about the size, the carat and the cut of the diamonds, many retailers will patiently explain to you, eg colour D is good, a well-cut diamond has 57-faces and will display either 9-arrows or 9-hearts when peer under the microscope. If you are into more elaborate designs, there are jewellery which are themed after the animals – eg snake and scorpion.
It is fine to just glance around but if you are going for the kill, you must certainly get your cards ready. Or you prefer to pay in wads of cash? The items may be value-for-money, they are not exactly dirt-cheap.
October 25, 2008
The Lives of the Hoarders
Who are hoarders?
Hoarders are people who keep storing things and refusing to get rid of them. These things grow to the extend that they start infringing on the people's living space.
Hoarding arises from psychological problems. The hoarder featured in the Oprah Winfrey show started filling her house with things when her children moved out. She kept buying things without clearing them away. As the years went by, the things in her house occupied every corner and stacked up so high that she could no longer find a space on her bed or watch her TV.
A team was put in place to help clear the things in the hoarder's house. Her children were also recruited to provide the necessary support. To help the hoarders, it could not be done without the hoarder's own effort. The hoarder broke down when she found out that the things accumulated in her home had resulted in the growth of bacteria and mould that made her space no longer safe for living. The things cleared were about 75 tonnes. When a garage sale was held, the things could fill a 10,000 sqft warehouse. Some of these things included 3,000 pairs of pants and 3,000 pairs of shoes.
To help the hoarders and to prevent ourselves being one, we should ensure that we take 10 minutes a day to walk around the house. We take 2 bags with us - one to contain things of goodwill and one for trash. As long as we put one thing into each bag, we will end up with 14 things at the end of the week. More importantly, we should stop the inflow. Things can never fill the void left by people.
Hoarders are people who keep storing things and refusing to get rid of them. These things grow to the extend that they start infringing on the people's living space.
Hoarding arises from psychological problems. The hoarder featured in the Oprah Winfrey show started filling her house with things when her children moved out. She kept buying things without clearing them away. As the years went by, the things in her house occupied every corner and stacked up so high that she could no longer find a space on her bed or watch her TV.
A team was put in place to help clear the things in the hoarder's house. Her children were also recruited to provide the necessary support. To help the hoarders, it could not be done without the hoarder's own effort. The hoarder broke down when she found out that the things accumulated in her home had resulted in the growth of bacteria and mould that made her space no longer safe for living. The things cleared were about 75 tonnes. When a garage sale was held, the things could fill a 10,000 sqft warehouse. Some of these things included 3,000 pairs of pants and 3,000 pairs of shoes.
To help the hoarders and to prevent ourselves being one, we should ensure that we take 10 minutes a day to walk around the house. We take 2 bags with us - one to contain things of goodwill and one for trash. As long as we put one thing into each bag, we will end up with 14 things at the end of the week. More importantly, we should stop the inflow. Things can never fill the void left by people.
October 24, 2008
Under the Stars
I feel guilty towards my family.
When I was young, I spent alot of time on my books so that I could get into a good school, get good grades, get a scholarship to go into university, get a good job and start supporting them. When I started working, I worked overtime, including weekends to ensure that I get a good appraisal, pick up all the necessary skills, prevent myself from being fired or retrenched so that I can earn my own keep and contribute financially to the family.
Everyday, I wake up, rush around and will not get home until they have gone into bed. Before I go to work, I have to eat my breakfast, read the papers, dress up and get out of the house in record time. Inevitably, any communication with my mum is reduced to what time I will be home today and the big news of the day (given the recent upheavals in the financial market as well as the economy). By the time I get home, I just hope to sit in front to the TV and total immerse in no-brainer programs. I am simply too lazy to talk especially after a day in office answering queries and scolding my line for not making business sense in their cases or their projections. I just want to give my vocal cords a break.
For once, I head home early and have an early dinner with my mum. After dinner, instead of rushing home to watch TV, we decide to sit under the stars and have a nice one-to-one chat. Under the stars, by the pool, with the cool breeze and watching time passes us by, we can have a heart-to-heart talk without worrying about what to do next and cutting conversation short by using monosyllabic words. Who says total relaxation can only be achieved overseas?
With this conversation, I feel that at least I am truly catching up and spending quality time with my mum. At least, this helps me absolve some of my guilt towards my family.
(Pool side view, on the sun deck chairs and under the night skies and stars)
Farewell Lunch
It is another colleague's farewell lunch. We are not from the same department but I talk to him more than my colleagues sometimes as I support his department for all financial matters and he is the business analyst of his department.
No matter how many conflicts you have with the colleague when you are working, you will certainly miss working with him or her when he or she is about to leave. This is because we have already gotten used to each other's working style. Moreover, our relationship has extended from colleagues to friends as you know more and more about the person. Strangely, it is often during the farewell lunch that we are most relaxed and more open with each other.
All the best!
October 21, 2008
My Room Mate's Wedding
My Room Mate from the KL trip was finally walking down the aisle today after hearing her excitement about her wedding and her new house for a year.
The dinner hall at Sheraton was small but elegant. To ensure that she captured all the memories of her big night, she had taken photos with guests from each table twice. The first was during her first walk-in as more candid shots, ie no proper sitting and standing. The second round was when she changed into her evening gown and taken with more formal setting. She also took photos with each of us individually as she sent her guests home.
I am pretty sure she would have many photos to keep the memories of this special night alive. Look, pose and smile.
The dinner hall at Sheraton was small but elegant. To ensure that she captured all the memories of her big night, she had taken photos with guests from each table twice. The first was during her first walk-in as more candid shots, ie no proper sitting and standing. The second round was when she changed into her evening gown and taken with more formal setting. She also took photos with each of us individually as she sent her guests home.
I am pretty sure she would have many photos to keep the memories of this special night alive. Look, pose and smile.
October 20, 2008
Sorting my Blog Entries
I tried to classify my blogs into the various topics and subject matters so that you and I can quickly zoom into past entries rather than ploughing through the archives. I decided to embark this project on a weekend afternoon. What seems to be an interesting exercise turns up to be rather tedious. Midway through this project, I started to regret this.
1) Looking at 600 odd entries to determine what topics it should fall under required some patience and perseverance.
2) While reviewing, I observed that my thoughts sometimes deviate from the original topic that I had intended so that one entry may contain various topics. It can be so complicated that I am torn at how to categorise some of these entries.
3) I was appalled at the amount of entries that I had devoted to food, personal thoughts and working life. I guessed you could by now discern what were some of my main 'aims' in life. *Wink*
Lessons that I have learnt and to be picked up from this exercise.
1) Looking at 600 odd entries to determine what topics it should fall under required some patience and perseverance.
2) While reviewing, I observed that my thoughts sometimes deviate from the original topic that I had intended so that one entry may contain various topics. It can be so complicated that I am torn at how to categorise some of these entries.
3) I was appalled at the amount of entries that I had devoted to food, personal thoughts and working life. I guessed you could by now discern what were some of my main 'aims' in life. *Wink*
Lessons that I have learnt and to be picked up from this exercise.
- I should better organise my thoughts and writing so that I stick to a particular theme in each entry instead of letting my thoughts run wild and haphazard.
- To ensure my entries are more focused, I should break the entries into various entries if a certain incident triggered more than one thoughts. I seemed to get into the trap of writing too lengthy entries so that I could capture everything.
- I should widen my interests further and share more on my other hobbies.
- I should continuously organise my entries instead of letting it grow to such a volume than tagging them into categories become a nightmare.
If you have just started your blog, take heed.
October 19, 2008
Mr and Mrs Smith
As elusive as whether Brad Pitt and Angelina Jolie had already fallen in love in the movie, I somehow always missed the movie when it was telecast. Finally, I could catch the chemistry between the sexy actor and actress as they engaged in gunfires. With a dash of humours, bossa nova music and villains, voila, an entertaining movie was concocted.
After the movie, I kept hearing the bossa nova tune, which set the scene when Brad and Angelina (I made it sound as though I knew them on a personal level) met, humming in my head. La La La La La.
After the movie, I kept hearing the bossa nova tune, which set the scene when Brad and Angelina (I made it sound as though I knew them on a personal level) met, humming in my head. La La La La La.
Traditional Dessert
It takes a fair bit of self hypnosis to gulp down the bitter herbal jelly for someone with a sweet tooth like me. Herbal jelly detoxifies and cools down heated bodies, especially effective in the hot and humid weather of Singapore. As I am unable to fan off the temptation of the delicious but heaty food, I can only try to minimize the harm by taking herbal jelly. So far, it has been quite effective in cooling my body heat.
October 18, 2008
More Local Fare
I craved more local food after last week. I ws back for my favourite minced pork noodles and fried chicken wings at hawker centre near my old place. A picture speaks a thousand words so I will not say too much here. <Grin>
Korean Noodles at Foodcourt
What lies between me and the noodles is its spicy appearance. My sister, who can take spicy food better, is an easy target to try the food with me. I have been hounding her for weeks to try the noodles with me. In case I cumble under the extreme spiciness, she can save me.
How? She can finish up the said noodles.
Well, given the current food shortage, we should not waste food.
The noodles are springy and go well with the slightly spicy and piping hot soup. The kimchi in the soup adds crunchiness to the flavour. My rating? The noodles are good but can be abit pricey given the use of ingredients.
October 17, 2008
Grey News: Additional Workload
I was told that I would to handle the total corporate product revenue consolidation permanently as an addition to my portfolio as the current colleague handling this will be asked to do another project. Is this good or bad news? I do not know at this juncture. On one hand, I am excited as this is a more important role than my current portfolio of supporting a few departments and products. On the other hand, this change will involve longer working hours permanently as consolidation means that I will always need to wait for everyone to finish their pieces before I can roll-up, do final review and submit to my bosses and management.
I see this as grey news because it is neither good or bad or rather it can either be good or bad news.
I see this as grey news because it is neither good or bad or rather it can either be good or bad news.
October 15, 2008
Boss from Hell
Claire has reunited with her crush from college who introduced her to the cut-throat successful publisher, Vivian Grant. After being a family-like corporate culture publishing house, Claire braced herself for the worst with the rampant rumours of Vivian as the boss from hell.
On the first day of job, she witnessed a Vivian’s tirade against some of the more senior editors. Claire was loaded with impossible deadlines. She burnt mid-night oil, was on-call 24 by 7 and had no time for family or friends. The working environment was not helping as her colleagues were either equally tired or scheming to get in the good books of Vivian.
Vivian was not just a workaholic who expected the same from all her subordinates. She was condescending and believed that no subordinate was good enough or could not understand what she wanted. She spared no mercy with them and loaded all expletives. She was manipulative and preyed on the Achilles’ heel of Claire – comparison to Claire’s arch rival, Lulu, to get Claire to agree to taking on more assignments.
Sounds familiar? Yes, for those lovers of the movie The Devil Wears Prada, the plot of Bridie Clark’s Because She Can has a similar theme. Claire resembled the eager, impressionable and enthusiastic Anne Hathaway while Vivian Grant was evidently the character played by Meryl Streep. Although all these may edge on the verge of exaggeration and clearly fictitious, don’t we recognize a sliver of truth and resemblance of these characteristics in every day life?
Bootlicking colleagues, impossible deadlines, manipulative bosses or colleagues and endless over-times have become synonymous with successful careers, much to the chagrin of the likes of the Stepford wives. Whoa, when has the definition of a good career becomes so warped? Is working life really that cut-throat?
Why was I able to relate to Claire?
Despite hearing the rumours, Claire was determined to give herself and Vivian a chance as the stint at Grant Books will certainly enhance her resume. She gave herself a timeline of 1 year. Regardless of how bad the situation was, she would hang on for a year. When I first started on my current job, I was filled with apprehension as it was my first job change. I was worried how I would be able to survive in a private and dynamic organization. I had also given myself a timeline of about 2 years to ‘strike it out’. No matter what happened, I would certainly stay on for at least 2 years. Fortunately, I had enjoyed my job in a cordial environment that the past 2 years flew by like a breeze.
I am a sucker for happy endings. This is no exception. Claire managed to call it a stop after a while and despite just weeks before meeting her one-year cut-off. The day she walked out of Grant Books was the day that she could finally see the beautiful Manhattan skies again.
On the first day of job, she witnessed a Vivian’s tirade against some of the more senior editors. Claire was loaded with impossible deadlines. She burnt mid-night oil, was on-call 24 by 7 and had no time for family or friends. The working environment was not helping as her colleagues were either equally tired or scheming to get in the good books of Vivian.
Vivian was not just a workaholic who expected the same from all her subordinates. She was condescending and believed that no subordinate was good enough or could not understand what she wanted. She spared no mercy with them and loaded all expletives. She was manipulative and preyed on the Achilles’ heel of Claire – comparison to Claire’s arch rival, Lulu, to get Claire to agree to taking on more assignments.
Sounds familiar? Yes, for those lovers of the movie The Devil Wears Prada, the plot of Bridie Clark’s Because She Can has a similar theme. Claire resembled the eager, impressionable and enthusiastic Anne Hathaway while Vivian Grant was evidently the character played by Meryl Streep. Although all these may edge on the verge of exaggeration and clearly fictitious, don’t we recognize a sliver of truth and resemblance of these characteristics in every day life?
Bootlicking colleagues, impossible deadlines, manipulative bosses or colleagues and endless over-times have become synonymous with successful careers, much to the chagrin of the likes of the Stepford wives. Whoa, when has the definition of a good career becomes so warped? Is working life really that cut-throat?
Why was I able to relate to Claire?
Despite hearing the rumours, Claire was determined to give herself and Vivian a chance as the stint at Grant Books will certainly enhance her resume. She gave herself a timeline of 1 year. Regardless of how bad the situation was, she would hang on for a year. When I first started on my current job, I was filled with apprehension as it was my first job change. I was worried how I would be able to survive in a private and dynamic organization. I had also given myself a timeline of about 2 years to ‘strike it out’. No matter what happened, I would certainly stay on for at least 2 years. Fortunately, I had enjoyed my job in a cordial environment that the past 2 years flew by like a breeze.
I am a sucker for happy endings. This is no exception. Claire managed to call it a stop after a while and despite just weeks before meeting her one-year cut-off. The day she walked out of Grant Books was the day that she could finally see the beautiful Manhattan skies again.
October 14, 2008
Homework?!?!?
We had a piece of reading - from Harward Business Review as homework from the course. Looking at the columnar 6-page reading in font-sized 10, it was as if I was transported back in time to my University Days. After distancing myself from such heavy reading for a long while (about 6 years ago), it was difficult to get into the momentum.
Actually, I simply could not bear reading it at all. My reading was cramped to the morning train trip before the second day lesson. Fortunately, I managed to finish the reading during the journey from Ang Mo Kio to Raffles Place. Phew, my speed reading had not failed me, even though I had a strong nudge that I was reading but not understanding.
Oh my, I believed I would certainly need to go through a long adapting period if I need to hit the books again. :-(
Actually, I simply could not bear reading it at all. My reading was cramped to the morning train trip before the second day lesson. Fortunately, I managed to finish the reading during the journey from Ang Mo Kio to Raffles Place. Phew, my speed reading had not failed me, even though I had a strong nudge that I was reading but not understanding.
Oh my, I believed I would certainly need to go through a long adapting period if I need to hit the books again. :-(
October 13, 2008
Buried in the Sea of People
I have never worked in the CBD - the stretch from Tanjong Pagar to Raffles Place. I will only go to these places for course or meeting consultants / vendors. After getting used to the more laid-back area such as Jurong East and Orchard (on weekdays), I nearly drowned in the sea of people when I was at Raffles Place MRT station in the peak hours to attend course.
I was already confronted by hordes of people once I was out of the train and waiting to reach the gantry via the escalator. I was surrounded by people where each of us was probably separated by a strand of hair. My heart nearly went into hyperventilation for the lack of air. I was literally being pushed forward by the people surrounding me. Glancing up, the escalator was COMPLETELY overflowing with people.
The nightmare was only beginning.
The same crowd gathered in front of the gantries waiting to get out of the train station. At this time, you prayed hard that your EZ Link card worked well and allowed you a smooth passage through the gates. Any delay in your passing through the gates could only result in two consequences - either you were stampeded by the crowd behind you or you suffered the impatient "tsk" and stares from the people.
The worst was yet to be over.
The escalator leading from the train station to above ground was equally thronged with people. Another round of jostling and pushing ensued. Everyone was desperately trying to get out of the train station and be in office in "Olympic-record" time. I thought I was already not a slow walker. Here, I was relegated to a 'tortoise' speed relative to the ladies in killer heels and the gentlemen in crisp shirt and ties. They literally zoomed past me. I better gathered my speed in order not to be a road hogger, or worse, a road block.
Finally, I was out in the open air. Although it was not as squeezy as before, the race to the office continued. Many of them carried their bags in one hand and a cup of coffee in another with the papers pressed under their armpits, they could still move along in top speed without dropping anything or spilling a drop of their coffee. Moreover, not a strand of hair was out of place or a bad of sweat was seen. Suddenly, I felt very out of place and frumpy walking alongside these super-power gentlemen and ladies.
Boy, was I glad when I finally reached my learning centre - a rather dilapidated building squeezed between two skyscrapers - OCBC Centre and One George Street. The fight for the morning had ended. I was sure more battling with the office crowd would continue during lunch and on the way home. For once, I was so glad my office was in the more relaxed area of Somerset. :-)
I was already confronted by hordes of people once I was out of the train and waiting to reach the gantry via the escalator. I was surrounded by people where each of us was probably separated by a strand of hair. My heart nearly went into hyperventilation for the lack of air. I was literally being pushed forward by the people surrounding me. Glancing up, the escalator was COMPLETELY overflowing with people.
The nightmare was only beginning.
The same crowd gathered in front of the gantries waiting to get out of the train station. At this time, you prayed hard that your EZ Link card worked well and allowed you a smooth passage through the gates. Any delay in your passing through the gates could only result in two consequences - either you were stampeded by the crowd behind you or you suffered the impatient "tsk" and stares from the people.
The worst was yet to be over.
The escalator leading from the train station to above ground was equally thronged with people. Another round of jostling and pushing ensued. Everyone was desperately trying to get out of the train station and be in office in "Olympic-record" time. I thought I was already not a slow walker. Here, I was relegated to a 'tortoise' speed relative to the ladies in killer heels and the gentlemen in crisp shirt and ties. They literally zoomed past me. I better gathered my speed in order not to be a road hogger, or worse, a road block.
Finally, I was out in the open air. Although it was not as squeezy as before, the race to the office continued. Many of them carried their bags in one hand and a cup of coffee in another with the papers pressed under their armpits, they could still move along in top speed without dropping anything or spilling a drop of their coffee. Moreover, not a strand of hair was out of place or a bad of sweat was seen. Suddenly, I felt very out of place and frumpy walking alongside these super-power gentlemen and ladies.
Boy, was I glad when I finally reached my learning centre - a rather dilapidated building squeezed between two skyscrapers - OCBC Centre and One George Street. The fight for the morning had ended. I was sure more battling with the office crowd would continue during lunch and on the way home. For once, I was so glad my office was in the more relaxed area of Somerset. :-)
Negotiation and Influencing Skill Course
I think I am one who buckle quite easily when it comes to confrontation. This places me in an extremely disadvantageous position especially when discussing with the line on changing their assumptions or budget. Hence, learning how to effectively and cordially convince my line managers of Finance's perspective is an essential life skill. Hopefully, the Negotiation and Influencing Skill course will impart the necessary tools.
Some of the interesting insights shared by the coach are important while some are slightly impractical from my personal opinion.
1) Win-win are for losers
How often do we paint the ideal picture of a "win-win" situation when we are negotiating? We always strive for the best solution where no party will lose out. However, these are almost impossible. In any negotiation, some people will certainly lose out out more than the others - it is a matter of how big the win is.
2) Business Style
Each person has different business styles. Where negotiating with another party, we should know his or her business style so that we can build a better rapport. Business styles include analytical, driver, amiable and expressive. Analytical people tends to focus more on details. Driver are less patient and prefer to look at the big picture. Amiable people are more people focused. Expressive people prefers concepts and tend to be more articulate. However, sometimes, a person may not fall strictly into one category but may have a mixture of 2 to 3 dorminant traits. Knowing their characteristics, we will be able to present in a manner which the other party is more comfortable and heightens our chance of influencing them to our stance.
3) Listening
Before we can influence or negotiate, it is critical to listen to their concerns. We can improve our listening by actively asking open ended questions to gain better insights. More often than not, we may often focus more on thinking what we should say next rather than actively listening. Sometims, we may even interrupt before the person has finished speaking.
4) Different strategies and tactics
There are different strategies and tactics we can employ in negotiating. These include appeasing, indifference, competitive and cooperative. Appeasing involves more like creating buy-in through buying lunches and gifts, flattery, etc. Indifference means stalling for time or avoiding. Competitive is slightly more aggressive as it includes more intimidating acts. Cooperative seeks better understanding and collaborative efforts.
5) Handling difficult person
One way of dealing with difficult person is to identify his traits and thinking something good about the person so that we will not 'close the door' to this person. For instance, a pushy person may be due to them being too stressed while a person who is temperamental may have personal problems. Hence, we should be more understanding and focus on the better traits of this person.
I agree to some of these tools / concepts but not all of them. Moreover, when it is pertaining to the actual situation, most likely such tools and concepts will not be recollected and we will rely our instinct to handle the situation.
Some of the interesting insights shared by the coach are important while some are slightly impractical from my personal opinion.
1) Win-win are for losers
How often do we paint the ideal picture of a "win-win" situation when we are negotiating? We always strive for the best solution where no party will lose out. However, these are almost impossible. In any negotiation, some people will certainly lose out out more than the others - it is a matter of how big the win is.
2) Business Style
Each person has different business styles. Where negotiating with another party, we should know his or her business style so that we can build a better rapport. Business styles include analytical, driver, amiable and expressive. Analytical people tends to focus more on details. Driver are less patient and prefer to look at the big picture. Amiable people are more people focused. Expressive people prefers concepts and tend to be more articulate. However, sometimes, a person may not fall strictly into one category but may have a mixture of 2 to 3 dorminant traits. Knowing their characteristics, we will be able to present in a manner which the other party is more comfortable and heightens our chance of influencing them to our stance.
3) Listening
Before we can influence or negotiate, it is critical to listen to their concerns. We can improve our listening by actively asking open ended questions to gain better insights. More often than not, we may often focus more on thinking what we should say next rather than actively listening. Sometims, we may even interrupt before the person has finished speaking.
4) Different strategies and tactics
There are different strategies and tactics we can employ in negotiating. These include appeasing, indifference, competitive and cooperative. Appeasing involves more like creating buy-in through buying lunches and gifts, flattery, etc. Indifference means stalling for time or avoiding. Competitive is slightly more aggressive as it includes more intimidating acts. Cooperative seeks better understanding and collaborative efforts.
5) Handling difficult person
One way of dealing with difficult person is to identify his traits and thinking something good about the person so that we will not 'close the door' to this person. For instance, a pushy person may be due to them being too stressed while a person who is temperamental may have personal problems. Hence, we should be more understanding and focus on the better traits of this person.
I agree to some of these tools / concepts but not all of them. Moreover, when it is pertaining to the actual situation, most likely such tools and concepts will not be recollected and we will rely our instinct to handle the situation.
October 11, 2008
Local Fare
I am certainly a Singaporean at heart. Nah, I am not referring to the less desirable characteristics which are often associated with Singaporeans but more of Singaporeans' hobbies. I am both as much a gastronomic as a shopping fan - both leisure activities which are ranked among the highest in the popularity list of Singaporeans. Food is the favourite past-time of many Singaporeans. Singaporeans' taste are also wide-ranged from our round-the-corner Char Kway Teow in hawker centres to the fine dining by Cordon Bleu / Michelin certified restaurants.
I am too a foodie at heart. However, being a lady, I am also very aware of the side-effects of having too many good things at a time. To prevent my calories piling and tipping the weighing scale, everything has to be taken in moderation. Singaporeans, being highly knowledgeable of the 'hazards' associated with some of our most loved food, will have to refrain from indulging in our 'food spree' too often.
Let me not digress to much from the 'star' of the day. One of my favourite food indulgences is that of barbecued seafood which can be found in almost all hawker centres. The sizzling of the onions and balachan on the stingray placed strategically on top of the banana leaf in the hot plate will whet your appetite and send anticipation to your stomach. The smooth and sweet taste of the stingray is enhanced by the spiciness of the balachan and dried shrimps. The sweetness of the fish, the onions and shallots will also aid in neutralising some of the spiciness. For those who opt for a more balanced meal, the stir-fried kailan, spicy kang kong or spicy sweet potato leaves are equally mouth-watering.
Both are excellent dishes to go with rice. Before you know it, you would already have gulped down a large bowl of rice. For those of us who may be blessed with a very high tolerance of spiciness, the scorching spiciness lingering in our mouth, the sweat and sometimes runny nose from the high spicy level may not put us off. In fact, we feel more 'shiok' from the entire experience. Moreover, spiciness is an acquired taste. The more you eat, the more addicted you are and the better will be your tolerance level.
Don't salivate yet, dinner is still a few more hours away.
I am too a foodie at heart. However, being a lady, I am also very aware of the side-effects of having too many good things at a time. To prevent my calories piling and tipping the weighing scale, everything has to be taken in moderation. Singaporeans, being highly knowledgeable of the 'hazards' associated with some of our most loved food, will have to refrain from indulging in our 'food spree' too often.
Let me not digress to much from the 'star' of the day. One of my favourite food indulgences is that of barbecued seafood which can be found in almost all hawker centres. The sizzling of the onions and balachan on the stingray placed strategically on top of the banana leaf in the hot plate will whet your appetite and send anticipation to your stomach. The smooth and sweet taste of the stingray is enhanced by the spiciness of the balachan and dried shrimps. The sweetness of the fish, the onions and shallots will also aid in neutralising some of the spiciness. For those who opt for a more balanced meal, the stir-fried kailan, spicy kang kong or spicy sweet potato leaves are equally mouth-watering.
Both are excellent dishes to go with rice. Before you know it, you would already have gulped down a large bowl of rice. For those of us who may be blessed with a very high tolerance of spiciness, the scorching spiciness lingering in our mouth, the sweat and sometimes runny nose from the high spicy level may not put us off. In fact, we feel more 'shiok' from the entire experience. Moreover, spiciness is an acquired taste. The more you eat, the more addicted you are and the better will be your tolerance level.
Don't salivate yet, dinner is still a few more hours away.
October 09, 2008
Continuing Financial Turmoil
Just as we thought the storm had blown over in the financial markets, the tenacles of the bad assets (I wondered if I could still call them assets when they caused the financial institutions to write-off as losses and be laden with debts) extended across the Atlantic Ocean to the Europeans. Panic gripped the markets worldwide with stock markt plunging and government rushing to put in emergency funds to rescue these stricken organisations.
With some of the familiar financial institutions going under, the question is no longer whether this is the last to be hurt but rather who will be next. Retail investors like you and me start wondering if our miniscule savings stash in the bank are safe. Despite them being miniscule, they can represent our life-time wealth. For the extremely cautious people, they contemplated if not already act on their decision, to withdraw from the banks. In spite of progressing, we seem to be regressing to the times when people hide their savings in tin cans and hang on their roof or place below their bags or maybe even sew them into their pillows.
Therein lies the greatest dilemmas. When you have savings, you worry about where to put these savings and how to make money work for you instead of vice versa. When you have no savings, you worry about your future, your retirement and keep praying hard that you keep your job and no one in your family falls sick. Regardless of which side of the 'grass' you are on, it seems like we will still be burdened with worries. Different worries plague different people.
Which side would you prefer?
With some of the familiar financial institutions going under, the question is no longer whether this is the last to be hurt but rather who will be next. Retail investors like you and me start wondering if our miniscule savings stash in the bank are safe. Despite them being miniscule, they can represent our life-time wealth. For the extremely cautious people, they contemplated if not already act on their decision, to withdraw from the banks. In spite of progressing, we seem to be regressing to the times when people hide their savings in tin cans and hang on their roof or place below their bags or maybe even sew them into their pillows.
Therein lies the greatest dilemmas. When you have savings, you worry about where to put these savings and how to make money work for you instead of vice versa. When you have no savings, you worry about your future, your retirement and keep praying hard that you keep your job and no one in your family falls sick. Regardless of which side of the 'grass' you are on, it seems like we will still be burdened with worries. Different worries plague different people.
Which side would you prefer?
October 07, 2008
Fear
Knowledge can make you more powerful and confident. Knowledge can also make you more fearful and wary. Ignorance is sometimes bliss. Why is this so? Simply put, once bitten, twice shy. Contrary to popular belief, the older one gets, the more fearful one gets especially one becomes increasingly aware of one's mortality.
Maybe you are already busy shaking your head or dying to rebuke me, perhaps allow me to elaborate with some anecdotes.
My boss recently came back from a holiday in Maldives. Much as she enjoyed the blue sea, the white sand and the sunny skies, she was also sharing her thoughts during a snorkeling trip. My boss used to be quite adventurous when it comes to snorkeling especially in very clean and clear waters. She used to think next to nothing about the sports as it is pretty safe even for very novice swimmers. In this trip, as she paddled her way in the waters, she was struck by how precarious the seabed terrain was. The seabed could be quite shallow here and suddenly dipped sharply just a few steps away. While she was contemplating this, she surfaced out of the water and noticed how far she was away from the main boat. Immediately, panic flashed through her mind when she realised that if she were not careful, she could have drifted too far. If she ran into any problem, it would be difficult for anyone in the snorkeling trip to extend any help. That was when she was acutely aware of her mortality and how dangerous snorkeling could be.
The first time I was on a sky ride in Sentosa - ie those benches which ran on cable and hang overhead to transport people from downhill to uphill quickly, I was pretty excited by the prospect until I sat on the bench which started to move. The free hanging legs, the height above ground, the relatively unprotected bench (except for a metal bar on our legs near our pelvis which served as the only safety measure) increased my insecurity and fear. As much as I was excited by the beautiful sceneries on such height, I was simultaneously trying to keep any physical action to the minimal. Having experienced the nervousness of being on a chair at great height, I was gripped with fear when I was confronted with the chair lift in Hokkaido. Relative to that in Sentosa, this did not even have a metal bar as a precautionary measure. Fortunately, for most part of the trip, our legs were only a few feet away from ground except for certain stretches of the journey.
If I had not gone through what I had in Sentosa, I would probably think nothing of the chairlift and may even be pretty excited about it. Having tried something before may increase our confidence about doing something again. It can also put us off something totally. Anything can cut both ways. As we grow older and acquire more experiences, sometimes we may be more wary and fearful than when we are younger, partly because we start to associate different experiences, especially the less pleasant ones and partly because we have more to lose, with our commitment to our family and dreams.
Maybe you are already busy shaking your head or dying to rebuke me, perhaps allow me to elaborate with some anecdotes.
My boss recently came back from a holiday in Maldives. Much as she enjoyed the blue sea, the white sand and the sunny skies, she was also sharing her thoughts during a snorkeling trip. My boss used to be quite adventurous when it comes to snorkeling especially in very clean and clear waters. She used to think next to nothing about the sports as it is pretty safe even for very novice swimmers. In this trip, as she paddled her way in the waters, she was struck by how precarious the seabed terrain was. The seabed could be quite shallow here and suddenly dipped sharply just a few steps away. While she was contemplating this, she surfaced out of the water and noticed how far she was away from the main boat. Immediately, panic flashed through her mind when she realised that if she were not careful, she could have drifted too far. If she ran into any problem, it would be difficult for anyone in the snorkeling trip to extend any help. That was when she was acutely aware of her mortality and how dangerous snorkeling could be.
The first time I was on a sky ride in Sentosa - ie those benches which ran on cable and hang overhead to transport people from downhill to uphill quickly, I was pretty excited by the prospect until I sat on the bench which started to move. The free hanging legs, the height above ground, the relatively unprotected bench (except for a metal bar on our legs near our pelvis which served as the only safety measure) increased my insecurity and fear. As much as I was excited by the beautiful sceneries on such height, I was simultaneously trying to keep any physical action to the minimal. Having experienced the nervousness of being on a chair at great height, I was gripped with fear when I was confronted with the chair lift in Hokkaido. Relative to that in Sentosa, this did not even have a metal bar as a precautionary measure. Fortunately, for most part of the trip, our legs were only a few feet away from ground except for certain stretches of the journey.
If I had not gone through what I had in Sentosa, I would probably think nothing of the chairlift and may even be pretty excited about it. Having tried something before may increase our confidence about doing something again. It can also put us off something totally. Anything can cut both ways. As we grow older and acquire more experiences, sometimes we may be more wary and fearful than when we are younger, partly because we start to associate different experiences, especially the less pleasant ones and partly because we have more to lose, with our commitment to our family and dreams.
October 06, 2008
The Right Word at the Right Time
This is an encyclopedia of English by Readers' Digest which I have won in a Stomp's English contest a couple of months ago.
By encyclopedia, you can already imagine the thickness of the book. It looks somewhat like a dictionary as well as it lists words from a to z - no pictures, with font size of about 10-11 and each page is separated into 2 columns. Erm, it is not exactly easy reading because reading it is tantamount to reading disctionary with meanings and phonics.
Since it is not easy reading and in order not to tax my degenerating brain power too much, I try to read only 1 to 2 paragraphs on some nights. Hopefully, these grammatical rules and vocabulary will be absorbed so that my English standard can show some signs of improving from its current rather dire state.
The first rule that I read about is on the use of articles - whether it should be "a" or "an". If you are sniggering behind my back now and wondering why I even bother wasting my time on a rule which a primary school child can rattle off the back of their hand, you will certainly fall off your chair if I confess how enlightened I have been from this precious paragraph. Well, actually it is more like a 2-page write-up on this, so you can imagine the importance of this.
Raise up your hand.
How many of you think or have been taught that "an" is to be used in front of words starting with vowels (ie "a", "e", "i", "o", "u") and the rest "a"?
If you are fully cognisant of the nuances in "a" and "an", I applaud the success of your grammar teacher as well as your proficiency in the English language. For the rest who are completely oblivious to the correct grammar and presume than "an" is to be used with words starting with vowels, allow me 5 minutes to summarise what I have learnt from THE book.
"An" is to be used in front of words with vowel-sounding first syllable regardless of how it is spelt. Hence, we should use "an" with "honour" because "honour" sounds like starting with "O". We should NOT use "a" simply because "honour" is spelt with a "h".
Of course, there are more rules but I am still in the first few pages of "A". You see, once you read a paragraph, you must ponder about it before understanding, so a page takes longer to read than a simple novel. I will certainly work harder to do more reading and understanding. Hopefully, the next time you read my entries, you will see some (I will refrain from saying "marked" and setting too high an expectation for myself) improvements in my writing, especially with respect to the grammar.
Let me continue with my journey of English "upgrade" for now. Till then, please forgive me for any grammatical boo-boo.
October 04, 2008
A Diagnosis of My Immunity
I noticed a trend - a trend on my immunity. Once my body succumbs to the tyranny of the common flu, cold, sore-throat viruses, my immunity level is adversely affected. It takes a long way to build itself up again. Thus, during this recovery period, I am more susceptible to the attack of another bout of viruses.
The worst is not over. Even after my immunity strives to stand on its own again after the last failed battle, it is not as sturdy as before. It loses its stamina quicker than the previous fight, making me more prone to showing the symptoms of the maladies at an earlier stage. Running nose, sore throat, aching body and drowsiness weakens my willpower to "thrash" it out with the viruses. Before my willpower can be boosted, my body again takes a surrendering position. Once again, the viruses triumph over my immunity.
The side-effects tend to be more long-lasting and stronger with each win of the viruses. Not only do I end up with running nose and sore-throat, I end up having an infection and minor allergy of my eyes as well. It is time for a visit to the doctors again. Urrgg, this is another taint on my MC record. I must really watch out in order not to cause further convenience to my colleagues and bosses.
Maybe the back-up immunity comes too late? I should not have started consuming Vitamin C only at the onset of the flu but rather take it conscientiously and regularly to give my immunity the boost. When I consume Vitamin C too late, my immunity is so weakened that it can no longer ride on the benefits of the Vitamin C. Not only is this another ravage of my immunity, the Vitamin C taken is also wasted.
If my immunity is kept at a tip-top level through a regular intake of Vitamin C, can it ward off all the viruses. I should really take better care of my immunity and my body to prevent it from becoming frailer. To do that, I must really watch out for pharmacies' sales and stock up on my supply of health supplements.
The worst is not over. Even after my immunity strives to stand on its own again after the last failed battle, it is not as sturdy as before. It loses its stamina quicker than the previous fight, making me more prone to showing the symptoms of the maladies at an earlier stage. Running nose, sore throat, aching body and drowsiness weakens my willpower to "thrash" it out with the viruses. Before my willpower can be boosted, my body again takes a surrendering position. Once again, the viruses triumph over my immunity.
The side-effects tend to be more long-lasting and stronger with each win of the viruses. Not only do I end up with running nose and sore-throat, I end up having an infection and minor allergy of my eyes as well. It is time for a visit to the doctors again. Urrgg, this is another taint on my MC record. I must really watch out in order not to cause further convenience to my colleagues and bosses.
Maybe the back-up immunity comes too late? I should not have started consuming Vitamin C only at the onset of the flu but rather take it conscientiously and regularly to give my immunity the boost. When I consume Vitamin C too late, my immunity is so weakened that it can no longer ride on the benefits of the Vitamin C. Not only is this another ravage of my immunity, the Vitamin C taken is also wasted.
If my immunity is kept at a tip-top level through a regular intake of Vitamin C, can it ward off all the viruses. I should really take better care of my immunity and my body to prevent it from becoming frailer. To do that, I must really watch out for pharmacies' sales and stock up on my supply of health supplements.
October 03, 2008
Big Megamalls
Talking about big megamalls, you may frown and think that there are hardly any big malls in Singapore. Maybe you may think of Vivocity, Ngee Ann City or Marina Square. These malls are not small but perhaps they are constantly thronged with people that they give an illusion of a smaller space.
Strangely, I seemed never been able to completely explore Causeway Point and Vivocity. Yes, you have not heard wrongly. I really meant Causeway Point at Woodlands. It was the third visit yet I have not visited all floors of the place. Is it because it is too big? Likely, because the few times I dropped by, I spent at least 2 hours there. Alright, maybe I should discount the first visit because that occurred before the place was fully renovated and opened its doors to the public. At that time, Metro was the anchor tenant of the mall. On the second visit, I was there for lunch and shoe shopping because my sister spotted a pair of shoes that I desired but could not find the right size and colour in other outlets. On this third visit, other than spending a long time queuing for dinner, I basically visited about 3 shops and it was time for the mall to close.
I think the times I visited Vivocity should have outnumbered that for Causeway Point. This is if I have not counted wrongly. If you merely linger around its main lobbies, then you would have missed out on many interesting eateries and boutiques which are hidden at many corners. These shops and F & B outlets are located either facing the sentosa or the side facing the main road. Till today, I doubt I have fully explored all these places, because normally after I have explored the main lobby, I am either too tired to continue walking or again it is time to head home.
Given the high turnover of some of the shops in these popular areas, by the time you fully explore the mall, the mall may have a change in tenant mix again. So why shop overseas when we have not lack of shopping at our doorstep?
Strangely, I seemed never been able to completely explore Causeway Point and Vivocity. Yes, you have not heard wrongly. I really meant Causeway Point at Woodlands. It was the third visit yet I have not visited all floors of the place. Is it because it is too big? Likely, because the few times I dropped by, I spent at least 2 hours there. Alright, maybe I should discount the first visit because that occurred before the place was fully renovated and opened its doors to the public. At that time, Metro was the anchor tenant of the mall. On the second visit, I was there for lunch and shoe shopping because my sister spotted a pair of shoes that I desired but could not find the right size and colour in other outlets. On this third visit, other than spending a long time queuing for dinner, I basically visited about 3 shops and it was time for the mall to close.
I think the times I visited Vivocity should have outnumbered that for Causeway Point. This is if I have not counted wrongly. If you merely linger around its main lobbies, then you would have missed out on many interesting eateries and boutiques which are hidden at many corners. These shops and F & B outlets are located either facing the sentosa or the side facing the main road. Till today, I doubt I have fully explored all these places, because normally after I have explored the main lobby, I am either too tired to continue walking or again it is time to head home.
Given the high turnover of some of the shops in these popular areas, by the time you fully explore the mall, the mall may have a change in tenant mix again. So why shop overseas when we have not lack of shopping at our doorstep?
October 01, 2008
Happy Children's Day
It has been ages since I last celebrate Children's Day. If I did not recall wrongly, the last time I celebrated Children's Day was probably when I was in Primary School. As Hari Raya Puasa fell on Children's Day this year, we adults could finally get a day off on Children's Day after so many years. It is perhaps a reminder for us to celebrate our forgotten childhood.
How have you celebrated yours?
Happy Children's Day. May you look forward to each day with the innocence and happiness as a child.
How have you celebrated yours?
Happy Children's Day. May you look forward to each day with the innocence and happiness as a child.
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