PERSONAL POSITIONING PERSONAL POSITIONING FOR TOMORROW'S FOR TOMORROW'S CHALLENGESCHALLENGES

Steven C.M. WongAssistant Director-GeneralInstitute of Strategic and International Studies (ISIS) Malaysiasteve@isis.org.my

9/4/2010 @ Taylor's University College

Easy but not painless: Easy money, fiscal spending-led recovery; wealth illusion on a grand scale; value unhinged; speculation & risk management industry

•Liberalisation globalisation financialisation•Inflated asset & commodity prices•Awesome pay packets for the few•Massive resource misallocation – capital hoarding•Shifting of liabilities to the next (your) generation

Fractious times: Convergence of geoeconomic and geopolitical concerns; highly advanced economies also most highly indebted; trade, investment, currency battles; rise of economic nationalism.

•End of the public debt road approaches•Strong arming to appease domestic voters•Unemployment – employment trends are worrying•Shift of centre of economic gravity to Asia•Decoupling myth - someone kill this please

Strategic maneuvering: Business concentration through global M&A. Splitting up of value chain. Technology race replacing conventional arms race.

•Control of capital vs. capital controls•Investment decisions vs. industry leadership•Management across borders (i.e. diversity)•Multiple skill sets required•Organization & project management

• Norms• Habits• Cause-and-effect

• Sharing• Participation• Competition

• Competition• Goal-setting• Achievement

• Morality & ethics• Sacrifice• Cooperation

• Values, belief & attitudes are ‘given’; form or be formed; set/reset anchors; invest wisely

• Opinions count but are not all that count; age of ‘instant’ experts; instead question & reflect

• Excellent communication expected but not enough; talk is getting cheaper by the day

• Mental agility must take its place alongside values, ability & knowledge; otherwise ‘misguided’ missiles result

• Predigested and prepackaged knowledge is creating parrot & ‘cut-and-paste’ generation’; be creative

• Look for opportunities to practice & perfect your crafts; take shortcuts at your own cost

• Remember cultural capital: language, norms, etc. Key word is resonate

• Don’t underestimate power of the Internet but don’t overestimate it ; blogs, tribes, Facebook, etc.

• Be practical; identify mentors, enlist co-conspirators; network allies & partners, resonate

• Any endeavour or change will encounter resistance & apathy; master cooperation; expect & engage

• 1. | Conduct a time inventory/audit; understand self first; discover conflicting goals; time traps

• 2. | Devise personal information acquisition & reflection strategies (and not just text books & blogs either)

• 3. | Get interested, get energised, get informed, get out there

• 4. | Take consistent & concerted personal & group action