WOMEN'S VIEW 49Research indicates that men do well at mental rotation of MENobjects and spatial perception whereas women are betterat verbal memory and fluency. Men and women often get Individualistic, constricting and differentiating.tied up in communication knots over issues that involve Macro managers- they have natural eyes to see from apower, decision-making and working in teams. Here, we larger point of view which help them to work on long termmust understand and accept that men and women have goals. This is where their fear over failure is reduced anddistinct ways of communicating that require action and confidence level increases.advice differently where their responses and timing are also More outwardly focused – they pay more attention to thedifferent. outer aspects of things; hence, their participation is more active.In general, women are more characterized as team players, Undivided, single-pointed focus – men are wired in such ademocratic, transformational and reward-oriented. Men, on way that they are natural at focusing ONE thing at a time.the other hand, are characterized as being more task- They can remain focused on one particular issue for a veryoriented, autocratic, of command-and-control type as well long time, compared to women who are more multi-faceted.as punishment-oriented. Men entrepreneurs are also noted Risk takers – men are adventurers. They don't give up onfor being more self-confident, dominating, competitive, something just because they think they can't do it. That's thedecisive, aggressive and independent in the business reason why most known inventors are men. They areworld while women are more consultative, conciliatory, fearless and unafraid of big ideas.partnership-oriented and collaborative. Delegating- men are natural at delegating. A man might hire an assistant without guilt where the same guilt is more of aThe active involvement of women in the business world nemesis to a woman!(especially as business owners) has increased Left brain oriented- men are creatures of logic. Theytremendously over the years. More women have goals in depend on reliable reasoning, supported by facts andlife and start business with the purpose of making money. figures.Equipped with better education, knowledge and proper Less vocal - conversations are less 'wordy' with men, hence,guidance, women are more confident, focused and meetings are shorter and the end product is arrived at moreindependent in decision-making as well as at taking risks. quickly.Women entrepreneurs have obviously learnt these traitsand qualities from their male counterparts throughobservation, communication and partnering. In thatmanner, men too, while teaching their female businesspartners about the business world, have humbled downenough to observe and understand the subtle qualities of afemale partner that benefit their business dealings, hence,striking a balance in the team. JUNE 2015 |
50 WOMEN'S VIEW woMEN TEAMWORKMicro managers – women are story-tellers; they appreciate In a nut shell, men focus on details while women focus on bigthe nitty-gritty things that form a story. They believe pictures. Men keep things in little boxes and women scattereverything and everyone has his/her own narrative that their thoughts all over the place. Men use specific parts of thedeserves to be told out loud. brain to 'see' specific things while women are holistic, using both brain hemispheres at once. Compared to men, womenInwardly focused – women pay attention to the inner aspect have problem saying 'NO' because they are more emotionalof things; hence, their participation is more passive. and may take things personally. According to science, women cry easily and readily because their tear glands are 60% largerMultitaskers - In that same meeting, women may run off than men's. However, a woman is actually being powerful whentopic before returning to the task in hand – they exist she cries by bringing people to her. It helps people understand'everywhere' at the same time. her. Meanwhile, since men are less emotional, they do not take things personally and find it much easier to say 'NO'.Holistic – women are people managers. They understandthe different influences on staff, big picture and reasonable. However, everything is changing in the business world, now.Being more adaptable to the needs to change, they are Both men and women are much more balanced these days andmore willing to see other people's point of view. have learnt to enjoy the best of both sides of their brains. Women are taking more risks in their everyday decision-makingLess of a risk taker – since women are more careful, they are while men are becoming more people-oriented. Men are alsogreat at planning and strategizing. more relaxed making decisions based on their intuition and better at expressing their emotions without judging. WrappingWomen have more difficulty delegating tasks - They are up, no gender is better or lesser than the other. We are justused to doing everything themselves. Thus, sometimes they different! Learning from each other helps downplay thespread themselves too thin keeping up their business and weakness and highlight our strength. What matters most is thatdoing their housework at the same time. we execute our company mission successfully and harmoniously, as a team. Men and women, together, have aRight brain oriented – women are intuitive. They have this much bigger effect on the world, not just in the business arena'innate navigational system' that defies logic and reasoning. but as a steward of humanity. Logic and Intuition are complementary.More verbal - conversations with woman are longer. Hence,they connect the dots better. shanthini subramaniam runs her own publishing business and is humbled, here, to share the experience and wisdom gained as an enterpreneur over the years. She welcome communication via: e-Mail : [email protected] . | JUNE 2015
ONLINE BUSINESS 51M-COMMERCECONNECTS SMALL BUSINESS WITH MASSIVE CONSUMERS JUNE 2015 |
52 ONLINE BUSINESSMobile phones are no longer just a means of calling another person, it is used to pay for merchandise, receive time sensitive information, send messages and socialize. Thereis no doubt that mobile technologies have the potential to bring changesto businesses and industries (Gordon, 2001). Despite the recenteconomic downturn, the use of ICT services, such as mobile phonesand the Internet, continues to grow worldwide. InternationalTelecommunication Union (ITU statistics indicates In 2014, 3 billionpeople using the Internet and the mobile-cellular market, with 7 billionsubscriptions.Mobile commerce or M-commerce should not be viewedas e-commerce with limitations, but rather as a unique form of e-commerce with its own unique benefits. Additionally, m-commerce isnot a substitute for PCs. Rather, it is a new and a much more powerfulway to communicate with customers. Ubiquity, intimacy, time sensitivity It is believed to be the next gold rush after e-commerce as businesses ofand location awareness are key concepts that make mobile commerce different industries are rushing to stake a claim. Some people conceiveso different from traditional e-commerce. The other difference between m-commerce as an extension of ecommerce to mobile phones. Somem-commerce and e-commerce is the opportunity to connect information people think it is another new channel after the Internet. In general,with objects in a more direct way than has been possible until now. M- m—commerce refers to any transaction with a monetary value that isCommerce is also known as mobile electronic commerce or wireless conducted via a mobile telecommunications network.According to thiselectronic commerce. definition, m-commerce represents a subset of all e- commerce, including both business-to-business and business to consumer. | JUNE 2015
ONLINE BUSINESS 53M-Commerce uses the internet for purchasing goods and services as well as sending and receiving messages using hand- held wireless devices.Wireless web applications will enable users with Internet enabled mobile phones. M-commerce has the opportunity to connect not just bigbusinesses but also small business and consumers on a massive scale. In this sense, mobile phones have the potential to bridge the digital divideand allow businesses and individuals to reach out to one another more easily than ever before. THE COMMERCE LANDSCAPE78% 90% 91% Businesses should take advantage of shoper preference for using mobiles to shop ADVANTAGES OF MOBILE COMMERCE Next, what do Malaysian purchase on their mobile devicePeople use these smartphones to browse the internet and shopwherever there is network access. NIbusinessinfo, identified severaladvantages of conducting m-commerce:Reaching the widest possible audience with your digital marketingdue to an increasing number of consumers using mobile devices toaccess digital contentInstant, adaptable, easily monitored communication - you cansend single or bulk messages from anywhere, at any time withimmediate tracking and the ability to record resultsThe ability to target a large active consumer group by specificdemographic information - eg age, location, genderCost efficiency, with low production and distribution costs, andadditional revenue from replies to promotions and competitionsA direct link to consumers through 24-hourbilling/sales/service/assistanceViral marketing potential, as consumers can forward messagesCross-media integration, which is easily tied in to other advertisingmedia - eg TV or radio JUNE 2015 |
54 LIVESTYLE BUSINESSES THAT BENEFIT FROM C. Education MOBILE COMMERCE Technology has been making inroads into education for decades. But A.Travel and Ticketing the mobile revolution is changing education in more fundamental ways than just providing a new gadget that delivers information.Mobile commerce had transformed many aspects of the daily lives of Mobile devices, particularly tablets, are changing the way we learntravelling consumers. For example, the mobile medium being used to : and think about learning. Pew Research Center-Harvard University 1 send personalized information about delays on a commuter’s study found that one in four teenagers in the US owns a tablet computer, whereas in Malaysia the education Ministry works to route to work provide every classroom has at least one computer, and Internet 2 enable the consumer to buy a new travel ticket on the go, or a connectivity to all the schools. coffee at the station D. Entertainment 3 notify the consumer of offers when they are close to a coffee shop Entertainment has always played a crucial role in Internet on the way to work applications and is probably the most popular application for the 4 send a joint special offer from the transport operator and the local younger generation. Mobile commerce makes it possible to download game/image/music/video files at anytime and anywhere, cinema for a free snack when watching the new blockbuster after and it also makes on-line games and gambling much easier to access work as a way to incentivize customers to travel during off peak and play. It is projected that 80 percent of all mobile users in will play times (cross-industry revenues/service innovation). mobile games at least occasionally. B. Commerce F. Inventory Tracking and DispatchingCommerce is the exchange or buying and selling of commodities on a Just-in-time delivery is critical for the success of today‘s businesses.large scale involving transportation of goods from place to place. It is Mobile commerce allows a business to keep track of its mobileboosted by the convenience and ubiquity conveyed by mobile inventory and make time-definite deliveries, thus improving customercommerce technology. There are many examples showing how mobile service, reducing inventory, and enhancing a company‘s competitive edge. Major delivery services such as UPS and FedEx have already applied these technologies to their business operations worldwide with great success.commerce helps commerce. For example, consumers can buy G. Trafficproducts from a vending machine or pay a parking fee by using theirsmart devices/ phones, and mobile users can check their bank Leading car manufacturers such as Toyota and BMW are pioneering inaccounts and perform account balance transfers without needing to go connected driving and mobile technologies to help solve trafficto a bank. congestion in real time so scenarios like today’s rush hour could truely be a thing of the past. | JUNE 2015
56 DOING BUSINESS IN UZBEKISTANDoingBusiness in UZBEKIZTANFAST FACTSOfficial Name : Republic of UzbekistanCapital : TashkentTotal Population : 30,488,600 (1 Jan 2014)Banking Hours : from 09:00 till 16:00, lunch break from 13:00 to 14:00 Closed on Saturdays, Sundays and holidays.Currency : Uzbekistan Soum (UZS) , equivalent to 100 tiyinBank note Denominations : 1, 3, 5, 10, 25, 50, 100, 200, 500, 1000, 5000 somCoin Denominations : 1, 5, 10, 25, 50, 100 somOfficial Language : UzbekReligion : Islam 88%, Christianity 9%, other 3%International Organization : UN, ADB, IMF,OIC, World Bank, Economic CooperationMembership : Organization (ECO), Shanghai Cooperation Organisation (SCO), Central Asian Cooperation Organization (CACO),Central Asian Union | JUNE 2015
DOING BUSINESS IN UZBEKISTAN 57TRADE INTERESTING FACTS ABOUT UZBEKISTANMajor Exports Energy products, cotton, gold,Major Imports mineral fertilizers, ferrous and Uzbekistan is a heterogeneous society dominated byMajor Trading Partners ethnic Uzbeks (80% of the total population). The largest Machinery & Equipment,Foodstuffs, ethnic minority groups are Russians (5.5% of the total 3 chemicals, ferrous and nonferrous population), Tajiks (5%), and Kazakhs (3%). metals State organizations and businesses use both Uzbek and China, Kazakhstan, Russia, South Russian as their business correspondence languages. Korea, Germany, English-speaking population is mostly based in Tashkent, Turkey,Kyrgyzstan, Bangladesh. the Capital City.The Republic of Uzbekistan has an immensely rich heritage in Roughly 99% of Muslims in Uzbekistan are followers of theterms of culture, art and natural resources. The monuments that “Hanifism” wing of Islam.remain throughout the country bear witness to a long andeventful history in which Alexander the Great, Genghis Khan There are 65 higher educational entities in the country –and Tamerlane the Great all left their marks. The Uzbeks are State Universities in each regional centre are among them.descendants of nomadic Mongol tribes who mixed with thesedentary inhabitants of Central Asia during the 13th century. Uzbekistan was at the second place on the GDP growth rate among the CIS countries in 2013.According to the Constitution of 8 December 1992, Uzbekistanis a sovereign, democratic republic. The country is headed by More than half of the GDP (55.8%) was generated byPresident. The government (Cabinet of Ministers) is micro-firms and private enterprise entities.subordinate to the Oliy Majlis (Parlament) and the President,who appoints the Prime Minister, deputy Prime Ministers and In 2013, the volume of industrial production grew byministers subject to the approval of the legislature.Uzbekistan is 8.87%, agricultural production increased by 6.8% andCentral Asia's most populous country. The population of investment into fixed.Uzbekistan, reaching more than 30.4million people as of 1January 2014 is concentrated in the south and east of the Number of Internet users is rapidly growing every year,country and comprises nearly half the region's total population. reaching about 9.81 million users by the end of 2013.Uzbekistan was one of the poorest republics of the Soviet (38.2% of the population)Union; much of its population was engaged in cotton farming insmall rural collective farms (shirkats). Nowadays, according to The state controls purchase prices for strategicallyWorld Bank reports, the fraction of the rural population important goods, such as cotton, gold, oil including utilitiesconstitutes 64%. The population of Uzbekistan is relatively and telephone communication.young: 25.3% of people are 14 or younger. Uzbekistan has ranked 11th among 26 the most rapid developing countries of the world quoted in “The World in 2050 ” by HSBC bank ECONOMYWhile production levels have declined steadily in recent years,cotton remains one of the most important export products andis produced throughout the country. Gold is another significantexport, with production mostly coming from the Muruntau goldmine in the Navoi viloyat (region). The mining industry alsoproduces significant amounts of silver and copper. Natural gasproduction is increasing and has recently become one ofUzbekistan’s main export commodities. Gross DomesticProduct in 2013 was approximately US$ 112.6 billion. JUNE 2015 |
58 DOING BUSINESS IN UZBEKISTANDespite the recent world financial and economic crisis,Uzbekistan enjoyed GDP growth and has seen few effects from the globaleconomic downturn, primarily due to the strong government involvement in banking and other strategic industries, its diversifiedeconomy and its relative isolation from global financial markets. It suffered only minor losses in its oil and gas exports during thecrisis. Most of Uzbekistan banks’ leverage ratios are now between 12 and 20 percent and the quality of their assets are fair. Duringthe past seven years, the country’s GDP has been annually growing by approximately 7-8 percent and industrial output wasaround 8 percent. SETTING UP A BUSINESSThe following types of commercial legal entities may be formedunder Uzbek law: Joint stock companies Limited liability companies and additional liability companies General business partnerships and limited business partnerships Production cooperatives Private enterprises and unitary (state) enterprises. | JUNE 2015
DOING BUSINESS IN UZBEKISTAN 59TOURISMUzbekistan is considered one of the centers of tourism thus possesses enormous tourism potential. The country connected Chinaand Europe through Great Silk road has plenty of architectural monuments of various historical epoch at Samarkand, Bukhara,Khiva, Shakhrisabz, Kokand and Termez. Uzbekistan has also other resources for attraction of the big number of foreign visitors:deserts , unique flora and fauna; mountain tops and the rivers having huge value for development ; mineral sources with thecurative water which is frequently not having analogues in the World; traditions of an applied art and original culture with which it ispossible to get acquainted only in Uzbekistan; economic potential of the country growing every year.Recreational resources of theRepublic allow to organize various kinds of rest, tourist routes and to receive foreign visitors in all-the-year-round.BUSINESS OPPORTUNITIES: FRANCHISINGThe following industry sectors may offer promising An unexplored market opportunity for fast-food franchisesopportunities for businesses: available at Uzbek. Some international companies have limited franchises in Tashkent, including Adidas and Puma. Food Processing and Packaging Franchisor may need to study Intellectual Property protections Machinery and Equipment and currency convertibility prior venturing. Oil and Gas Chemical industry Engineering – Electrical, Mechanical and Automotive Construction and Building Materials Power energy equipment JUNE 2015 |
60 ENRICHMENT “ THE MISSING LINK TO BUILD SUCCESSFUL BUSINESSWhether you have got an idea to start a business or plan to expand a running a business you need to search for inspiration to BUILD A SUCCESSFUL BUSINESS. Searching online, reading books or journals, consulting friends and family members or consultants could only provide you with some information and expert knowledge. But, only a mentor can truely share their business insight and knowledgewith you on an ongoing basis.A mentor is someone who shares their knowledge and wisdom with someone with less experience. Mentoring is the process of impartingknowledge or sharing experiences between mentor and mentee. Traditionally, mentoring is viewed as a didactic, face-to-face, long-termrelationship between a supervisory adult and a novice student that fosters the mentee's business or career. “Whenever I Am Asked What Is The Missing Link Between A Promising Business person And A Successful One, Mentoring Comes To Mind. – Sir Richard Branson | JUNE 2015
ENRICHMENT 61The founder of Virgin Group, Richard Branson says “mentoring was 1.What is my business on earth?very important for me personally. For example, Sir Freddie Laker gave 2.Who are my customers or those whom I hope to serve?me invaluable advice and guidance as we set up Virgin Atlantic, while 3.What are their values?my mum has been a mentor throughout my life. Nowadays, I find 4.What have been my results so far with that group of customers?mentors inside and outside of Virgin every day. If you ask any 5.What's my plan going forward?successful businessperson, they will always have had a great mentor atsome point along the road. If you want success then it takes hard work,“hard work and more hard work. But it also takes a little help along theway. If you are determined and enthusiastic then people will support“you.” “he's The Brains, I'm The Legs.”We share with MIB reader the opinion of Bob Buford the Chairman ofBuford Television, Inc on how deeply Peter Drucker mentoring impactshis life. In the article “The Uber Mentor,” Bob Buford identified nine areas– Buford on Peter Drucker's Mentoring Prof. Amrita Virdi of Symbiosis International University wrote, “Thethat Peter's mentoring influenced him over the years: Bhagavad Gita is the ultimate treatise on the criticality of effective mentorship.” It is Lord Krishna's wisdom, guidance and support that1.He identified the landscape for me. ultimately won the war for the Pandava's. Without being directly2.He defined the opportunities, the “white space”—what is needed now. involved, Krishna encouraged Arjuna and gave him the strength to fight. An ideal mentor serves the same purpose in the organizational context.3.He helped me clarify my strengths and capabilities. Arjuna, in turn, surrendered to Krishna with utmost devotion and trust.4.He identified the myths, the false paths, the incorrect assumptions Similarly, high potential individuals are chosen as mentees in the of the “industry” within which I was working. organizational context. The essence for the success of the mentor -5.He encouraged me to “go for it.” mentee relationship is the mentors' belief in the mentee's potential and the mentee's trust in the mentors' intentions. Both of them have no6.He helped me sort out the right strategies. vested interests and only work towards the achievement of the ultimate7.He affirmed results. organizational goals.8.He pointed out wasted effort. GO SEEK OUT THE MISSING LINK9.He (gently) held me accountable. People who've got the wisdom and learning from past experiences who can give you the right advice at the right moment, make introductions, expand your network and open doors of opportunity for you, as well asPeter, of course, wrote and taught on both the organizational and inspire and challenge you.personal levels, where his insights were equally profound and wideranging. I applied his lessons as I was seeking wisdom about how to Mentors can act as your secret-weapon, a person in your corner whomake my life as meaningful as possible. He possessed an amazing cares enough about your success to provide input and support, but whograsp of the context within which I was operating, adapting five basic is detached enough to be objective and help keep you on track. Insteadquestions he had developed: of struggling with an issue, getting stuck in indecision, or making easily avoidable mistakes that cost you a fortune, working with a mentor can help you get to where you want to go faster and with less headaches. JUNE 2015 |
believe in yourselfSuccess Is an Attitude of Mind Keep the Windows of Your Mind Open It’s a natural that everyone want’s to succeed. It goes back to‘ Smile back at your reflection. Successful people are childhood. We all have a survival and a success instinct. It’s cheerful, optimistic, and forward thinking. If you think you just that we sometimes forget how to exploit it. Success is don't have anything to smile about, smile anyway. Positive available to everyone; it really is, if only you can get in the right thoughts drive out negative thoughts. It's hard to have a frame of mind. You need to have a Positive Mental negative thought while you are smiling! Attitude.Success requires making a plan and sticking to it. It is simple, but does require commitment; it is not hard to do, but Positive self-esteem is the foundation for success. Feel does require hard work. The good news is that once you begin, good about yourself and your abilities, achievements and the results start coming almost instantly. potential. Don't dwell on your mistakes. Remind and praise yourself on your past accomplishments.Congratulate‘ The miracle of successful living is that yourself for taking positive steps toward a more successful the smallest step towards success attracts more success!Stephan Iscoe is a successful consultant and trainer. Let us look Associate with successful people. Do what they do. Whenat some of his key points that will help you achieve the highest faced with choices, make the choice a successful personlevels of successsuccess.. would make.Look into the nearest mirror - the person staring back at you is Desire to be a success. Decide right now that you will bethe only person responsible for your success. Smile! No oneelse is the cause of your success or to blame for Your short successful. Commit to being successful.comings.Successful people take full responsibility for their actions. | JUNE 2015
63LIFESTYLE >> By.Thevi SinnaduraiAvoid unsuccessful people. Do not under any Study the science of success. Read books, listen to tapes,circumstances associate with negative people. Negative watch videos and positiveTV programming. Talk topeople are toxic; they destroy, they do not build. The odds successful people and ask them how they becameare greater that they will pull you down faster than you can successful. Fill your mind with positive thoughts and givelift them up. You can choose to stay away from all the yourself positive self- affirmations.negative people in your life. Avoid all the whiners,complainers, blamers and thumb suckers. Every day do something that brings you closer to your goal. Never give up. You can only fail if you quit trying. Keep on and you will succeed. Achieving success requires following a system. Begin today by putting these 12 points into daily practice. Everybody experiences at some point, fear of failure, uncertainty, insecurity, low self-esteem, indecision, depression, nervousness and embarrassment. Successful people master these temporary conditions by taking positive action, by sticking to their plan, by maintaining their vision of the future, by learning from setbacks and by dedicating themselves to the pursuit of their mission. By following these simple steps you will become successful and achieve all that you desire.Do what you are best at and what you get the most HAVING A PMAsatisfaction from. There is no reason to stay stuck doingthings that are frustrating, boring, unhealthy, unproductive, One particular song that highlights on the way one candemeaning or unfulfilling. live their life and the important choices one has to make is the song “Attitude” by the legendary bandWrite down a vision of how you want to live your life. Be Bad Brains. There is a line that says, “Hey, we got that PMA,”specific. Where you want to live, who your friends are, the meaning Positive Mental Attitude. I talk about, sing about, andbusiness you want, your loved ones and family ….etc. live PMA! (http://www.onelifeonechance.com/pma/)Make a Future Scrapbook; paste in pictures, drawings, The Bad Brains actually adopted it from an American authoressays, clippings. Make up news headlines about your named Napoleon Hill. Hill wrote the book “Think and Growachievements. Every day visualize yourself as ou would Rich” in 1937 which first introduced the Positive Mental Attitudelike to be - and then act that way! concept. Napoleon went on to write several other books including “Success Through a Positive Mental Attitude” To beWrite down your biggest goal, the one you most want to successful, you needfulfill. Write it in the present tense, \"I am...\", \"I have...\", \"I to have a positivecontribute...\". Success is the result of a personal decision, mental attitude, orso start your goal with \"I\". Read your goal aloud every PMA. If you do nothingmorning and night. Tell people your goal. Make a plan to about negativeachieve your goal and stick to it. thoughts, chances are you will be settling for average. Instead, you need to continually feed your mind with positive thoughts. JUNE 2015 |
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