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https://www.forbes.com/sites/forbesagencycouncil/2021/02/23/tips-for-creating-a-consistent-writing-style-across-your-law-firms-website/
Tips For Creating A Consistent Writing Style Across Your Law Firm's Website
Tips For Creating A Consistent Writing Style Across Your Law Firm's Website Peter Boyd is an attorney and the Founder of PaperStreet. He has successfully helped 1,500 law firms with their websites and marketing. getty Consistency is an underrated tool in marketing, especially when it comes to websites. In the same way that it's important to have content free of grammatical errors, using a consistent writing style is paramount to clean, concise and organized copy. The goal is to ensure that any repeating elements (i.e., words, phrases, names, abbreviations) within your website are the same on Page 1 as they are on Page 2563. Here are some tips for creating more consistency across your website. Define a style for first and second references on the same page. On a law firm website, the firm name is typically used more than once per page. If you have a lengthy firm name, consider using a different version on the second reference. Typically, the second reference is a shorter or abbreviated version of the more formal firm name. It is also important to consider whether you want to include suffixes upon every reference of the firm name. Does “P.A.” need to be tagged onto every reference? If it is a core part of your brand, yes. If not, consider dropping it after it is used just once on the page. MORE FOR YOUCoach Your Mind For Resilience In The Workplace, Just Like Professional AthletesLooking Ahead: Thriving In An Increasingly Digitalized World With AI, Hyper-Personalization & InnovationPandemic Shows Leaders That Uber Model Is Not As Attractive As It Was Decide on a naming convention for people. I recommend that the first time a name is referenced be the full name. On references after the first, the firm needs to decide whether they want to be more formal or casual. There are many iterations that you can choose to use, including Mr. Smith, Attorney Smith, or John. Another important consideration is whether to include “Esq.” as a suffix on attorney biographies. We recommend against adding the suffix because it is repetitive of the very nature of the biography. It should be plenty obvious by the time a user gets to your biography that you are indeed an attorney. To capitalize or not to capitalize? Some law firms capitalize the names of their practice area groups. Some capitalize positions within the firm (i.e., Partner, Associate, etc.) regardless of their placement in the sentence structure. While it is generally accepted for the names of titles to be capitalized only if they appear before the actual name, some firms make a style decision to capitalize regardless. If you have a formal name for your practice groups, then capitalize. If you’re simply stating that you offer commercial litigation services, there is no need to capitalize. Pick a format for attorney biography sections. It is likely that each of your attorney biographies will have at least some of the same sections (think education, awards, etc.) These sections should have style guidelines to ensure consistency from biography to biography. For example, you can spell out “Juris Doctorate” in the education section of each biography, or you can abbreviate “J.D." You can choose to include years or not. Small details make the difference. Consistency within your website content is a detailed undertaking, but these small details are what can make the difference between "blah" websites and "wow" websites. A consistent style says something about your service without needing to say it. It exemplifies that you are detail-oriented and organized — two adjectives most people want in a lawyer. Forbes Agency Council is an invitation-only community for executives in successful public relations, media strategy, creative and advertising agencies. Do I qualify?
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https://www.forbes.com/sites/forbesagencycouncil/2021/12/28/good-year-or-bad-now-is-the-time-to-invest-in-customer-experience/
Good Year Or Bad, Now Is The Time To Invest In Customer Experience
Good Year Or Bad, Now Is The Time To Invest In Customer Experience Chris Wallace is the President of InnerView, a marketing consulting firm that specializes in internal brand alignment. getty There’s no question that 2020 has been a challenging year. But that doesn’t mean it’s been a “bad” year for all businesses. While many segments have suffered revenue declines through the pandemic, others (i.e., home fitness, outdoor recreation, home remodeling, to name a few) are seeing booming sales and popularity. For segments seeing record sales, there are real risks that come with having so much success during this period of rapid change. Here’s an example: I recently had a conversation with someone in the major appliances business. They indicated that their August sales were up 60% over the same month the previous year. Sixty! Six-zero! For an industry that would be happy with 6% and ecstatic with 16%, a 60% increase in sales seems unthinkable. It is hard to imagine that August 2021 will be a repeat of that success. While the current challenge for these surging industries might be fulfilling all their orders, the demand is not likely to last. These businesses must recognize that while they are currently busier than ever, there are dramatic shifts in consumer habits that will impact them in the future. Consumer expectations of a smooth and safe customer experience (CX) are increasing at a rapid pace. No matter what your performance has been this year, your future success will depend upon your ability and willingness to adapt now. Don’t Fall Into the “Success Trap” My company does a lot of work in the home improvement and building materials segments. Most companies in these sectors are having banner years. MORE FOR YOUTotal Wealth Of Tycoons On 2021 Forbes Hong Kong Rich List Rises Amid PandemicEqual Pay Day & Equity At WorkTime For Leaders To Stand Up On Making Business Truly Sustainable Short-term customer demand spikes are driving their sales. People are home more and they are investing in their houses. The demand is so high for these products that the scrutiny on the buying experience is relatively low. While most businesses have made short-term adjustments to be Covid-friendly, their success is not the result of CX improvements. An executive told me recently, “The customer experience in our industry hasn’t improved in 25 years.” Within their success lies a significant risk. If all their energy gets spent to keep up with short-term demand, that could hinder their ability to see the bigger picture. Brands need to invest time and money to examine how they are serving customers today — whether through digital channels or in stores — and determine if their experience is good enough in this new environment. The home improvement segment is just one example. The lesson applies to all industries that have experienced rapid growth in 2020. While you are fulfilling orders, others are developing new, innovative ways to serve customers that will set them up for long-term success. Where to Focus In between taking and fulfilling orders, it can be tough to know where to spend your time and money. The good news is, strong performance means there is money to reinvest in your business. From the industries we have observed and the trends we are seeing, here are three areas that can help ensure your business is prepared to serve the modern customer well after the pandemic: • Reimagine your customer journey. CX strategy has changed drastically during the pandemic. Companies of all sizes in all industries are finding better ways to serve their customers. While the pandemic has accelerated advancements around things like curbside pickups, online ordering and virtual video consultations, those things won’t go away. They are easier and save time, in addition to being safer. Your sales in the future will depend upon the experience you deliver. Examine each step along the customer’s journey and compare your processes to those in other industries. It won’t be enough to be on par with your competition; you’ll need to set a new standard. • Upgrade your digital systems. Digital tools are necessary to support the evolving CX. The highest priority needs to be finding ways to make the journey for the customer easier at every step of the way. This could mean upgrading the chat feature on your website to providing dealers or retail partners with access to better tools. Digital does not mean shiny objects; it means simpler, more efficient operations. • Engage your sales team. Sales reps are slow to adapt. It is that simple. It usually happens out of necessity. If your reps are having killer years, they are likely to miss some of the trends they will need to be successful in the future. Look at what struggling industries are doing to keep their reps sharp — things like honing remote/virtual selling skills, hosting roundtable discussions with clients and other pandemic-era innovations. Once again, many of those trends are likely to continue, so be careful not to let sales reps get lulled into thinking they are doing everything right. While many businesses are struggling to survive, others are struggling to keep up with an avalanche of business. While that might seem like a high-class challenge in this environment, it does present some real risks. To ensure that the success is not short-lived, smart businesses will take an honest look at the shifts in consumer behavior happening today and invest in the advancements that will enable them to deliver the new experience customers will undoubtedly demand. Forbes Agency Council is an invitation-only community for executives in successful public relations, media strategy, creative and advertising agencies. Do I qualify?
679dd76cc9a75f755ff2c40d0c55e869
https://www.forbes.com/sites/forbesagencycouncil/2021/12/28/how-to-shore-up-your-2021-business-plan/?sh=36dab6646ed5
How To Shore Up Your 2021 Business Plan
How To Shore Up Your 2021 Business Plan CEO of Agency Management Institute, serving 250+ marketing agencies to help their owners build profitable agencies that evolve and scale. getty A year ago, businesses around the world were looking forward to implementing their 2020 business plans — with no idea what lay on the horizon. In many ways, it seems like a year has passed in the blink of an eye as companies have scrambled to rebuild after facing the effects of the Covid-19 pandemic. The pandemic and its resulting economic dislocation have affected everyone in different ways and to different degrees. We’ve seen that firsthand at Agency Management Institute, where our 250 agencies have all reacted and responded to the crisis in unique ways. But our agencies share one commonality: No one had anything close to a normal year. With agencies cutting an estimated 35,000 roles in 2020, companies are operating on a smaller — and often smarter — scale. Regardless of whether your plans were altered directly or indirectly, chances are that it’s been challenging to create your 2021 business plan. You’ve likely either had other commitments and responsibilities pulling you in different directions, or you've faced too many unknowns to adequately plan for the year. The good news is that there’s still time to create your business plan for 2021 — but that time is right now. If your agency has not yet finalized yours, here’s how to do the best you can with the information you have at hand. 1. Start by gathering existing materials. It may seem intimidating to build out your entire year’s plan in such a short period, but don't let it deter you. By breaking down your plan into manageable parts, you can build a plan strong enough to withstand change but flexible enough to evolve as needed. MORE FOR YOUIn 2021, The Smartest Companies Will Be Teaching Leaders These Skills They’ve Never Learned Before4 Ways To Crush Employee Appreciation Day 2021Pandemic Toll: More Than Half Of College Faculty Have Considered A Career Change Or Early Retirement First, gather any planning documents you’ve already started creating for 2021. Ask managers on different teams to send you their top-line goals, key performance indicators, considerations and plans for the year. Then, schedule a two- to three-hour meeting with your leadership team to review the goals and prioritize. Send leaders the documents a week before the meeting, along with your take on how the agency has progressed on each top-line goal. Ask your team members to arrive prepared to talk about which items are still priorities, how to get off-track goals back on track, who should be responsible and which goal matters most to the organization. 2. Factor in taking care of your people. Your people strategy should be a core component of your business plan every year, but it’s never been more crucial than now to prioritize your employees’ health — mental, physical and emotional. With your leadership team, discuss what you’re currently doing to support employees, how it’s going and what you could do better. Are you supporting their work-life balance while they're working remotely? Do you have an employee wellness program or access to an employee assistance program? What sorts of volunteer opportunities do you offer, and are they paid? The more you take care of your team, the more loyal and hardworking they are likely to be. 3. Stay conservative. When it comes to budget, this may not be the time to take risks. While many economic forecasts do predict a small growth rate in 2021, myriad unknowns still exist. No one has a crystal ball, and we still don’t know how the virus, economy, businesses or government will behave in 2021. All these things are interconnected and out of your control. Therefore, it’s better to err on the side of caution with your projections. You can still set stretch goals to keep employees motivated, encourage your team to think creatively and identify new opportunities, but you also want to create a buffer in case of future downturns. 4. Up your flexibility factor. There’s a fine line to walk when you’re systematizing processes and efficiency procedures and making them adaptable enough for an economy that changes daily or even hourly. A traditional SWOT analysis of strengths, weaknesses, opportunities and threats is a good way to identify areas to improve. They teach it in every Marketing 101 class for a reason. Stress test using hypothetical situations. Work with your operations team and head of operations to understand exactly what would happen if your region suddenly implemented another lockdown. Do you have a plan in place? You should be able to create one using your insights and learning from the previous lockdown period. Now is the time to start planning for 2021. Even if you feel behind the curve, remember that many other agencies are navigating the same choppy waters. But by prioritizing your people and striking a balance between strong core operations and flexibility, you can set your team up for success, no matter what the new year brings. Forbes Agency Council is an invitation-only community for executives in successful public relations, media strategy, creative and advertising agencies. Do I qualify?
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https://www.forbes.com/sites/forbesagencycouncil/2021/12/28/leadership-in-the-time-of-covid/?utm_content=150202988&utm_medium=social&utm_source=linkedin&hss_channel=lcp-11076326&sh=9675e24e8aa5
Leadership In The Time Of Covid
Leadership In The Time Of Covid Chief Strategy Officer at Rogers & Cowan PMK, one of the country's largest culture and entertainment marketing firms. getty Life has been chaos for not only Americans but the entire world as we continue to weather this pandemic. And the workplace is no different. Where we work, and how we work, is undergoing just as much transformation as the rest of the country. Covid-19 has brought into greater relief that the solutions we already know about leadership are still the most important lessons we can embrace in the workplace. As we close in on the end of the year, here’s a checklist of the best lessons from leadership I’ve found: Diversity is more than what you see on paper. Yes, we must represent all ranges of ethnicity, national origin and gender. But did you consider veteran status? Did you know that many states do not have workplace protections for the LGBTQ+ community? We also need first-generation college students, first-generation immigrants, the masculine perspective and the feminine perspective (both of which can come from any gender). We need income diversity, geographic diversity and diversity in point of view. Diversity isn’t just what your company tracks in metrics. Empowering others delivers results. It can seem counter-intuitive: The more you focus on helping others succeed, the more your leadership vision can be brought forward. This nominally self-effacing principle is the core of servant leadership. That doesn’t mean subjugating your opinion, or a lack of leadership or accountability. It means meeting your staff where they are and guiding them forward — not just to the best version of themselves, but to the best version of the company you want to lead. It takes longer than just telling someone what to do or what you believe; however, that investment is repaid with deeper commitments, stronger empowerment and more growth for everyone. Expect more, better and new. Meeting your staff where they are doesn’t preclude setting high expectations for them and yourself. In a time where it feels like everyone is talking about “connection,” “emotional wellness,” or a hundred other now-common buzzwords, you should still be challenging your staff to make their ideas stand out. It’s not about re-skinning something that works; it’s about taking something entirely new to market with bold choices, mitigated risk and clear ROI. And if it’s not new? Send them back to the drawing board and go with them. MORE FOR YOUPandemic Shows Leaders That Uber Model Is Not As Attractive As It WasAmid Rise In Attacks Against Asian Americans, Jeannie Mai Calls For Intersectional, Anti-Racist ActionOrganizations Grapple With Creating The Hybrid Workplace You are responsible for the messages you send. We tell a lot of people a lot of things every day, and sometimes our messaging can get lost in translation. You get back a memo that doesn’t hit the mark; you get back a social calendar that seems off. The reason, more often than not, isn’t a lack of skill or effort, it’s a lack of understanding. It can be tempting to adopt the outmoded mentality of “they just don’t get it,” but the truth for you is that if your staff is misunderstanding your instructions, you’re not giving them correctly. And that’s a standard you can hold them to, as well, in reverse. If they feel you haven’t heard them, they need to try again. Impact is more important than intention. We hear it all the time: “That’s not what I meant.” And the response? It doesn’t matter. The impact of your words is just as, if not more, important, than your words themselves, and you’re responsible for that impact. You’ll make mistakes; we all do. But coming to every interaction with a pre-emptive sense of accountability will help the people you’re working with give you the benefit of the doubt, have faith in your intention and provide honest feedback that improves your impact. Continuously remind yourself your point of view is narrow. Experience is not a stand-in for being right. Yes, experience matters, but you will also be wrong sometimes. Seek out new information and new opinions from those around you, especially underrepresented voices, and let the world surprise and inform you. You don’t have to take their direction, but you should let them inform your perspective and explain your reasoning, even when you think it’s obvious. It builds investment and respect, even when others still disagree. Know your brand and live to it. When you leave a room, what do you want people to say about you? Pick five characteristics, or three, and remind yourself of them every morning. Make sure that you’re hitting at least one a day. And when you’re in crisis, when you’re stressed, when you’re not thinking about them, think about them. If an action is not furthering the reputation you want to have, rethink whether it’s really necessary in the first place. Be a person, not a robot. Leaders can be distant sources of light, especially for junior staff. The truth is many people are just as intimidated as you might have been as a junior staffer. Share your failures in real time and how you learn from them. Be vocal about it. Embrace kindness. Take time for yourself, even if it’s just to stare out the window. Share yourself, including your frustrations and your successes. Be human. Don’t be a leader, be a role model. Be filled with empathy, and expect it in return. Leadership and collaboration must be balanced. In today’s environment, life can sometimes feel like the tail wagging the dog. Being there for staff, embracing them, being a servant leader, meeting them where they are — it can build good leaders. However, there is a difference between empowerment and entitlement, and a good leader knows where that line is and how to walk staff back from it. This leads to perhaps the best guideline of all, at least from my point of view: Leaders see their staff, hear their staff and empower their staff — but they also lead them through investment, loyalty, passion and honesty. Leaders aren’t there just to march into the future; they are there to light the way for others and make sure everyone’s on the journey together. An ambitious destination is nothing if we don’t make it there, together. Forbes Agency Council is an invitation-only community for executives in successful public relations, media strategy, creative and advertising agencies. Do I qualify?
4016c49e8077925179e7323a787387bf
https://www.forbes.com/sites/forbesagencycouncil/2021/12/28/want-to-grow-your-professional-service-firm-focus-on-the-one/?sh=25899461100a
Want To Grow Your Professional Service Firm? Focus On The One
Want To Grow Your Professional Service Firm? Focus On The One At The Shattuck Group, Randy empowers mid-sized service firms to break through to their next level. getty One of the biggest challenges with running a professional service firm is lack of time. I see this over and over again from busy leaders who just don’t have enough hours in the day to do everything that is on their task lists. While this can be incredibly frustrating, there are solutions. After many years of working with and coaching leaders of professional service firms in numerous verticals (financial services, engineering, coaching, management consulting and IT consulting, to name just a few), I’ve learned a lot of lessons about what works and what doesn’t work to produce growth. Here is my singular observation. Focus, not time, is the real culprit. I find that most service firm leaders can define their top priorities with broad brush strokes, especially when establishing annual plans. But it’s the stuff of everyday decisions and tasks that get in the way. Most people seem to be so overcome by the minutia of little tasks that the big ideas never get the time or energy they deserve. This is a major problem because big ideas are the ones that produce growth. I want to put forward here two approaches that have really helped me and a lot of other leaders of professional service firms too: 1. Getting things done. MORE FOR YOUCostco Increases Its Minimum Wage To $16 An Hour—There Is An Alarming Downside That Needs To Be DiscussedSmith College Staffer Who Quit Over What She Says Was Racial Hostility To White People Collects $240,000 From SupportersJoe Biden Made One Campaign Promise That Really Mattered To Teachers. He Just Broke It. 2. The one. Getting Things Done Getting Things Done®, or GTD, is a time management method trademarked by productivity consultant David Allen. Entire books have been written about it. But I don’t find that the greatest benefit of GTD is time management. I think the real benefit is focus. In the GTD model, a person writes down everything that is rolling around in their head so they get it out of their head. This clears the mind. When I say everything, I mean everything. This might include grocery lists, a reminder to drop off the car at the dealer, the recent disagreement you had with a spouse, that new employee you want to hire and the quarter-end financials you need to review. The human mind, unlike our calendars, does not respect time boundaries. How many times have you found yourself thinking about personal issues while at work or thinking about work issues while at home, on your personal time? This understanding — that the mind has no boundaries — is critical to enhancing focus so you can grow. In the GTD approach, a person writes down everything that is in their mind and then categorizes the list according to a few simple criteria. This might include: • Do it now, for simple tasks you can do right away. These are gratifying because it makes you feel really productive. • Do it later, for longer-term tasks. • Do more research, for tasks that are not quite actionable yet. I don’t want to go much further on this approach because I do find it to be limiting. For me, the real benefit of GTD is not getting things done; it’s getting things out of my head so I can fully focus on what really needs to get done. That requires a different approach that I call The One. The One When I first started my professional service company in 1998, I had a lot of drive and energy. I was willing to work more than 80 hours a week and would tackle any task that came my way with a certain relish. I loved being an entrepreneur. But after about five years, my mindset shifted. I began to make a distinction between activity and productivity. This shift in mindset came about as a direct result of seeing how certain activities actually produced growth while others did not, even though they were important tasks to get done. That’s when I began to ask myself this all-important question: What is the one thing I need to get done today to ensure we keep growing? Asking myself that question completely changed my mindset, my ability to establish priorities, and, I believe, my effectiveness as a leader. This is where I find GTD and the one to be very good partners. GTD makes it easy to identify the one from a much longer list. However, the challenge with deciding what one thing I must do today to produce growth is that there are many, many tasks that vie for my attention. But which one will produce growth? Answering this question required me to track my outcomes and activities and to look, retrospectively, at what actually worked. Over time, I began to discover that just a handful of key tasks were most influential in our growth. Most of my clients have discovered the same thing. The activities that produce growth are not necessarily more time-consuming or difficult to achieve than other tasks. But if we don’t prioritize them, they won’t get done or will only get done at half the level of effectiveness that we need. Why? Because the one requires focus — often sustained focus over many days, weeks or even months. Most big goals are multi-phased and require sustained effort. This is why I now pair the one with another key idea: energy. Every day, we all have just so much energy and focus, and then it’s gone. The key to producing growth, I have come to believe, is focusing on the one task at a time of day when you have the best energy and clarity of mind. For me, this is usually in the morning. So you can imagine how I start my day. I used to begin my workday by answering emails and holding team meetings to get the day’s priorities established. But now, I reserve my mornings for focusing on the one. So there you go. These two ideas — GTD and the one — account for much of the success I have realized over the last decade or so. People often ask me how I can be so productive and focused. Now you know my secret. Give it a whirl and I’ll bet it will produce the same results for you. Forbes Agency Council is an invitation-only community for executives in successful public relations, media strategy, creative and advertising agencies. Do I qualify?
14c53ef03bac492889f722aa78ad81be
https://www.forbes.com/sites/forbesagencycouncil/2021/12/29/social-media-relevance-and-marketing-during-the-pandemic/?sh=20a4fcea388f
Social Media Relevance And Marketing During The Pandemic
Social Media Relevance And Marketing During The Pandemic Lion Shirdan is a marketing advisor, creative director and the founder of UPRISE Management, a 360˚ marketing, branding and creative agency. getty In ancient Greece, citizens met in the agora, a public space in the center of the city-state for business, politics and social events. Forums like this have long existed as a marketing tool — they centralize businesses in one location where people can browse and buy commodities. Today, many of us meet on digital forums: Twitter, Facebook, Instagram, WeChat, etc. Of course, the pandemic has accelerated social media relevance, not only as a pleasure, but also as something of a contemporary necessity. The days when we regarded social media indulgence as a bad habit, or a generational flaw, are essentially gone. Instead, it has become one of the most integral aspects of modern society, particularly amid the pandemic when many of our real-world forums have disappeared. But how do businesses market their products on digital forums? There’s never been a better time to market on social media. Here are three marketing strategies that capitalize on social media relevancy. 1. Choosing The Right Platform The first step in reaching your consumer base is deducing which social media platforms they are directing their attention toward. Breaking down user demographics can help you further specify your clientele and target audience based on age, gender, income, interests, etc. For example, Instagram is one of the most popular social media platforms with over 1 billion monthly active users. However, that statistic alone doesn’t mean Instagram is the right platform for your brand. Forty-nine percent of its users are men, while 51% are women. On LinkedIn, 57% of users are men, and 43% are women. This indicates that female-focused businesses would likely receive a greater ROI by marketing on Instagram. In terms of age, 38% of U.S. adults ages 18 to 29 use Twitter, compared to only 24% of those 50 and older. Therefore, brands targeting younger consumers would likely receive greater ROI from Twitter, as opposed to brands targeting those 50 and older, 84% of whom have Facebook pages. MORE FOR YOUForbes EQ On BrandVoice, A Thought-Leadership Platform Supporting Equity And Inclusion, Launches With Five Initial PartnersForbesWomen Will Host “Voicing Power” Event With Diane Von Furstenberg To Celebrate Women’s History Month And Advance EquityTotal Wealth Of Tycoons On 2021 Forbes Hong Kong Rich List Rises Amid Pandemic 2. Capitalizing On Trends One of the great assets of social media is its proclivity to reveal market trends. During the current crisis, and particularly throughout the mass quarantine stage, many people have attempted to supplement their social deficiency with social media. TikTok has risen in popularity, which has unveiled the habits and forthcoming trends of the tech-fluent generation. It has revealed a growing preference for ingesting media through short video clips and to further embrace the vertical video format, which I think hints toward a desire for brevity and a possible shift in filmmaking methods and artistic expression. Several brands, such as Chipotle and Spikeball, have already capitalized on this and committed to platform-specific content with brief, candid and humorous videos. It’s not enough to simply advertise on a given platform. Embracing the methods and habits of its users is essential. Adopting such trends will help you anticipate the market and remain congruent with social currents during this volatile period. 3. Influencer/Celebrity Marketing As social media grows increasingly relevant, so are its voices and personalities, which is why, as of March, two-thirds of marketers were planning to increase their influencer marketing budgets this year. Partnering with the right influencers can enhance brand awareness and yield greater conversions, and understanding the pros and cons of each influencer tier is essential. Macro-influencers typically possess follower counts in the hundreds of thousands to millions. Due to their massive audiences, macro-influencers are ideal for generating brand awareness and exposure, though they can cost tens of thousands of dollars. In my experience, gifting campaigns are often an effective alternative to paying influencers. The more valuable the product you gift, the more appreciative the influencer will likely be, incentivizing them to exhibit better content and more enthusiasm for your brand. Celebrities, or mega-influencers, are also highly effective at developing brand awareness with their large social media followings. Like macro-influencers, they can be very expensive, but their clout and recognition make them very reliable, as their image is a brand itself, so they must maintain credibility and a dependable reputation. If you are going to spend a significant amount of money on influencer marketing, specifically upwards of $50,000 or more, I recommend always spending it on a celebrity. They are consistently more likely to convert than macro-influencers, and from what I’ve seen, retailers are more likely to adopt a brand if it carries a celebrity endorsement and fan base. Celebrities also tend to have broader, verified public relations channels, while influencers are generally limited to social media. Although mega- and macro-influencers may bolster awareness, they don’t necessarily convert leads into sales. That is the advantage of micro-influencers who, with smaller audiences in the tens of thousands, have developed loyal, niche followings. Consequently, micro-influencers often have much higher engagement with their followers, as opposed to macro-influencers and celebrities who often have less personal, clout-based followings. Engagement is a small but important factor when considering influencers, as it indicates how authentically and organically the influencer will endorse your brand, and whether it will resonate with their audience. Analyzing their social media accounts for bot followers, the number of comments and like-to-follower ratios are effective strategies in determining engagement and whether an influencer will inspire sales. Many of our conventional agoras may have evaporated with the advent of the current crisis, but social media’s growing relevance has diversified marketing avenues. Using demographics to choose ideal platforms, capitalizing on trends and investing in influencer marketing can help you sustain your brand and reach your clientele. As the world changes, we must remember to turn our problems into possibilities and our obstacles into opportunities. Forbes Agency Council is an invitation-only community for executives in successful public relations, media strategy, creative and advertising agencies. Do I qualify?
07bc450a8eb77f421fa4488d00a2adb6
https://www.forbes.com/sites/forbesagencycouncil/2021/12/30/how-to-inspire-and-lead-in-our-work-from-home-culture/?sh=4526c54212ad
How To Inspire And Lead In Our Work-From-Home Culture
How To Inspire And Lead In Our Work-From-Home Culture President & Founder of Mekky Media Relations, a boutique PR agency based in Chicago with clients nationwide, delivering powerful publicity. getty It’s been a challenging fall, as political divisiveness and the pandemic have raged on in our communities, creating a perfect storm of fear and uncertainty. Unfortunately, these difficult times are made worse because so many of us continue to feel isolated from our families, friends and co-workers, with our normal support systems now confined to socially distanced interactions or Zoom. As the leader of my team at Mekky Media, this is something I think about a lot. We are a close-knit group, thanks to the positive culture we’ve built over the past few years, and I worry about the effect of not being together for these long months. I’m sure many business leaders can relate, especially in the current climate when tensions are high and there’s no immediate end in sight. Of course, working remotely has its benefits, and I think many employees enjoyed it in the beginning. But as the pandemic continues, it’s clear that those of us who manage teams must step up our efforts to lead, support and inspire during this time that is turning out to be less of a short-term interruption and more of a new culture. But how can we do this from afar? The most important thing is to make time for your team; don’t let team building or personal attention for your staff get buried on your to-do list. I know this is tough, especially now when we’re already stressed. But I made a promise to myself that this will be a big priority for me throughout the pandemic. And the efforts have paid off with the results I’ve seen. MORE FOR YOUNo Longer “Free”: India Slides In Rankings And Suppresses Civil SocietyForbesWomen Will Host “Voicing Power” Event With Diane Von Furstenberg To Celebrate Women’s History Month And Advance EquityForbes EQ On BrandVoice, A Thought-Leadership Platform Supporting Equity And Inclusion, Launches With Five Initial Partners With some creative team-building programs and an open, positive attitude, leaders can enhance the team’s bond so everyone learns to collaborate better together. When you see this start to happen, it feels great, but it’s also a major win for the business. Here are three keys to making this happen: Consistent Communication My company is in the business of communications, so it would seem obvious that we need to communicate well with each other, especially when we’re all away from the office. I make sure to set a good example by frequently sending all-team emails to make everyone aware of big-picture goals, recognize agency wins or individual accomplishments, offer tips and best practices, or just update them on what my day looks like. We also meet every Monday via Zoom, and each person has a chance to share one thing they’re proud of and one challenge (whether work-related or personal) from the previous week. I believe it’s important to gather together consistently each week. For some team members, this might be their only opportunity to “see” their colleagues and have an exchange with them. I recommend reviewing every client and project together as a team and brainstorming ideas to address any obstacles. Also, rely on communications tools like Slack. This can help your team stay connected throughout the day and quickly exchange information and ideas, and it makes up (a little bit) for not being in the office together. Consider developing a channel dedicated to the hard work of your employees, where anyone can give a shoutout for a job well done. Appreciation is the secret to motivated employees. A Culture That Welcomes We’ve been fortunate to grow our client base this year, as many organizations are realizing the importance of PR in this challenging business climate. This has enabled me to bring on some new staff. The challenge is getting them up to speed and making them feel welcome when we’re all working from home. To do this with new employees, be sure to spend a lot of time talking to them and answering their questions — more than you would under traditional circumstances. Remember, they won’t have the benefit of picking up on the cues that come naturally in the busy office setting. It’s also a good idea to revamp training programs to be entirely online. Make sure each new team member spends some time virtually with veteran staff members to learn the culture of the organization, as well as processes and procedures. That’s the easy part. The hard part is getting to know each other and developing a connection. For my team, this has been a memorable part of some of our fun Zoom calls, where we’ve all answered questions about ourselves and played trivia games. We’ve also enjoyed making personalized videos for each birthday, guessing celebrity lookalikes and hosting a Halloween costume contest. These are things we should all keep doing once we’re back to normal. I think in general we’ve had to work a little harder to connect with others and have found that some of our new approaches are worth continuing in the post-Covid-19 world. Workplace Wellness Many leaders and their employees would agree that what we need more than anything during these trying times is to focus on our mental and physical well-being. I established a series of wellness workshops where we could gather virtually to learn about or enhance our knowledge of things that could bring us peace and better health. If you want to champion wellness for your team, you can do yoga together, meditate, learn about mindfulness, have a cooking class, even a wine tasting — all through the magic of Zoom. These opportunities might require some investment, but the payoff in my experience is well worth it. I’m now exploring where to take our wellness series in 2021. Inspiring and leading in these troubling times can seem overwhelming, but it truly doesn’t have to be. We just need to spend a little more time on building our team and keeping everyone connected, and we might need to get more creative than we have in the past. But this is a time when having a strong team matters most, so the effort you put into leading will pay off in the end — both in terms of business success and better, more fulfilling relationships in the workplace. Forbes Agency Council is an invitation-only community for executives in successful public relations, media strategy, creative and advertising agencies. Do I qualify?
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No One Is A Nobody: Social Media Redefines Fame For A Digital Generation
No One Is A Nobody: Social Media Redefines Fame For A Digital Generation Eric is co-founder and CEO of Open Influence. getty Have you been famous yet? When Andy Warhol predicted that in the future everyone would be famous for 15 minutes, the audacity of this idea was rooted in its impossibility. Becoming famous in the 1970s took years of effort by studios, labels, producers, agents and managers. Magazine covers and marquees could support only so many names at a time. An entire gatekeeping industry formed between the star and the audience. All communication was programmed for and channeled through broadcast media. For decades, fame, as a phenomenon, was one-dimensional and one-sided. Fifteen minutes? Forget about it. Stars and fans seemed to maintain their place and distance for life. By the mid-1990s, a new informational era has dawned with the introduction of the internet to the public. Social media further democratized the communications field. Today fame is for everyone. Let me explain. Social media has turned everyone into a content creator. From selfies to reviews to original content, the media entry point has never been wider. Anyone can instantly access any corner of the world through social media. A cool idea delivered in a fitting format is bound to resonate. Rob Kenney uploaded his first YouTube video on April 2, 2020; it was a two-minute tie-tying tutorial. He grew up without a positive father figure and wanted to share "dad-vice" with kids in similar circumstances. The series "Dad, How Do I?" went viral within weeks on a promo budget of zero dollars. Half a year later, his channel has 2.8 million viewers. In broadcast terms, that’s new-HBO-series kind of numbers. This creates organic opportunities for brand engagement. Everyone has something worth sharing and the digital audience is proactive in embracing relevant content. Social media platforms allow you to bypass the maze of gatekeepers and just go for it. MORE FOR YOUPandemic Toll: More Than Half Of College Faculty Have Considered A Career Change Or Early RetirementEuropean Banks Are Cutting Their Office Space In Favor Of Remote Work—While In The U.S., Goldman Sachs And JPMorgan Want People To Return To The OfficeImmigration Bill Shows Need To End Employment-Based Immigrant Backlog Fame today is a multidimensional two-way highway. The celebrity community used to be an insular space with virtually no access for the public, except as consumers of prepackaged, prescheduled content. Life of stars was subject to fantasies. In 2002, US Weekly began its column “Stars — They're Just Like Us,” and we have been getting closer ever since. Now a shout-out from your icon is not unheard of. Over the summer, Missy Elliott launched a viral dance challenge. She reposted daily favorites to her 4-million-strong audience, giving some talented fans a sizable follower boost. Brands could benefit from aligning their influencer marketing strategies to these current events and achieve great success. Sometimes tables can turn unexpectedly. A potato farmer from Idaho, Nathan Apodaca skateboarded to work while sipping Ocean Spray cranberry juice and listening to Dreams by Fleetwood Mac. The cool video took TikTok by storm, prompting Mick Fleetwood himself to join the app and post an homage to his fan. In the post-celebrity era, fame is a constant renegotiation, an active dialogue where stars are happy to share the spotlight. Trust, not popularity, determines and drives influence. In retrospect, "old fame" was based on popularity alone, which was measured in bulk. The algorithm of social validation has radically changed the "new fame" metric. Repeated engagement is driven by trust in the consistent quality of content. Faced with unlimited sources of information, we prioritize personal trust of generic popularity. This has disrupted certain media segments for good. For example, financial advice used to rely on a few broadcast personalities such as Suze Orman or Jim Cramer of Mad Money. Now many financial influencers operate on platforms as divergent as LinkedIn, Facebook or TikTok. Social capital is also built over time. Even with over eight hundred thousand Twitter followers, photographer Brandon Stanton is hardly a household name. However, he is responsible for one of the most inspiring 2020 social media success case studies. His documentary project Humans of New York has been sharing moving personal stories of city residents since 2010. In September, Stephanie “Tanqueray” Johnson, a 76-year-old former burlesque dancer, was featured in a series of posts that went viral. Stanton launched his first GoFundMe campaign to secure a subject’s living expenses. The Tanqueray Trust raised a staggering $2.5 million in small donations. A decade of trust in the content creator translated into decisive action from the cultivated audience. Brands can learn loyalty and longevity strategies from this. The key to fame is no longer appearance, but authenticity. It turns out, the first social generation does not care about social status. It craves shared experiences. Empathy and authenticity top the millennial values charts. For example, that skateboarding TikTok sent downloads of a featured Fleetwood Mac track up 374% because it was admittedly so cool and in the moment. Similarly, when Tim and Fred Williams listened to Phil Collins’ “In the Air Tonight” for the first time in August, it was the raw enthusiasm for a beloved 1980s hit that made their reaction video go viral, boosting track sales over 1,000%. “Ordinary” content creators, not record labels or radio conglomerates, can dictate the charts now. When Rickey Thompson started posting his high-spirited “rants” on Vine, people could not figure him out. Was he a comedian, a prankster, an anti-bullying activist? His unabashed antics inspired millions of followers, and he recently launched a show on Spotify, with a billboard in Times Square. Authenticity pays and pays off. With no gatekeepers in the way of delivering quality content and plenty of platforms to tailor your format, more and more people (and by extension brands) can have an equal shot at achieving renown. Whether it lasts 30 seconds, 15 minutes or a lifetime is up to the content creator’s willingness to maintain their authenticity. The new fame is a labor of love in progress. Forbes Agency Council is an invitation-only community for executives in successful public relations, media strategy, creative and advertising agencies. Do I qualify?
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https://www.forbes.com/sites/forbesagencycouncil/people/tracycall/
Tracy CallForbes Councils Member |COUNCIL POST Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author.| Membership (fee-based)
Tracy CallForbes Councils Member |COUNCIL POST Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author.| Membership (fee-based)
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https://www.forbes.com/sites/forbesagencycouncil/people/valeriechan1/
Valerie ChanForbes Councils Member |COUNCIL POST Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author.| Membership (fee-based)
Valerie ChanForbes Councils Member |COUNCIL POST Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author.| Membership (fee-based)
bd211bdff6f14410c8b2a34c6a8e8098
https://www.forbes.com/sites/forbesagencycouncil/people/yananirshberg1/
Yana NirshbergForbes Councils Member |COUNCIL POST Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author.| Membership (fee-based)
Yana NirshbergForbes Councils Member |COUNCIL POST Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author.| Membership (fee-based)
dcaf19ec3314d3aad33e2d44ce9fca7f
https://www.forbes.com/sites/forbesasia/2012/06/20/developer-jose-antonio-brings-glitz-and-glamour-to-real-estate-in-manila/
Developer Jose Antonio Brings Glitz and Glamour to Real Estate in Manila
Developer Jose Antonio Brings Glitz and Glamour to Real Estate in Manila "Products are aspirational, it's the same in real estate," says Jose Antonio. Photo credit: Julian... [+] Abram Wainwright/Onasia For Forbes BY SUNSHINE LICHAUCO DE LEON Walking into a marketing event for the new Milano Residences in Manila, it’s easy to wonder whether they’re selling perfume, fashion or real estate. Gorgeous women in black cocktail dresses greet you on a red carpet and lead you to a room decked out in sleek black drapery. Waiters ply you with plates of gourmet hors d’oeuvres. As you leave everyone is handed a small plate designed by Versace. Jose “Joey” E.B. Antonio has been building and selling houses and condominiums for 26 years. But now—as he puts up thousands of units around Manila—he’s betting that Filipinos are ready for the sort of high-rise luxury homes found in Singapore and Hong Kong. And to close the deal on what can be a $3 million purchase, his Century Properties Group deploys a combination of glamour, glitz and brand names never before seen in the Philippines nor even in much of Southeast Asia. He lined up Versace Home to design the interior of the 53-story Milano Residences, the first time Versace had done a project like this in Asia. He added another bit of Milan to Manila when he hired fashion house MissoniHome to design the amenities at his 52-story Acqua Livingstone. View our list of the Philippines' 40 Richest Businesspeople. Antonio also made a splash when he signed hotel heiress Paris Hilton to design the beach club at his Azure Urban Resort Residences. A huge lit-up billboard at Manila’s domestic airport shows a relaxed and happy Hilton pitching the nine-building project. She hit town last August, laying out her design ideas at a meeting with Antonio and two of his sons, Robbie and John Victor. “Her knowledge of quality real estate is one that no other developer has been able to tap, despite her heritage and her travels,” says Robbie, noting that she has 17 luxury and lifestyle product lines. But Antonio’s biggest publicity coup was doing a deal with billionaire showman Donald Trump. The New York real estate mogul is licensing his name for the 55-story Trump Tower Manila. Construction is set to start early next year and expected to be finished in 2016. There’s a method to all this marketing. Antonio, 65, is certainly changing the landscape of Manila, but he has a larger mission in mind: He wants to change the way the world sees the Philippine capital. “My dream has been to position Manila as an international city, because we lose by default against cities like Hong Kong and Singapore, where all the brands go,” he says. “Our tie-up with brands like Versace is a conscious effort to position us as a city with good service, restaurants, luxury brands.” Like any good real estate man, Antonio’s selling more than four walls. “Behind the brand name is quality—people pay more for certain bags because they perceive they’re made of quality leather,” he says. “And many products are aspirational. It’s the same in real estate. People want properties in certain areas because it tells people, ‘I have arrived.’” The formula is working. Century has taken deposits on 70% of the 400-unit Milano Residences, where apartments are priced at up to $1.6 million; construction should be done in 2015. The Acqua Livingstone, part of a six-building, 2,000-unit project, got commitments for  20% of its 645 units in the first ten days after sales began in February. Century started taking deposits on Trump Tower in October and says 68% of the 220 units were spoken for as of May. Century’s first-quarter net profits quadrupled, to $10.5 million, on revenue that more than doubled to $57.6 million. Last year the company, which went public in August by buying a company already listed in Manila, saw net profits quadruple to $20 million on revenue that rose by 50% to $86.9 million. One setback came in February: It hoped to sell $110 million worth of additional shares but was able to raise only $85 million. Century says, “We were satisfied.” Antonio, the chief executive and chairman, who’s also called “Ambassador” because he was special envoy to China in 2005–08, owns 72% of the company along with his family. That gives him a net worth of $300 million and keeps him on the list of the Philippines’ richest at No. 25 after he debuted last year. His wealth rose 22%. Antonio’s buildings draw on Manila’s growing population of young professionals, but 70% of sales come from abroad. Century’s network of sales offices in seven countries cater to overseas Filipinos and foreigners. Rick Santos, chairman of CBRE Richard Ellis, the largest real estate services company in the Philippines, says “high-end luxury real estate in Manila trades at a huge discount to Hong Kong and Singapore and many other Asian markets. Manila provides low-cost and high-quality luxury residential real estate.” Indeed, the most expensive units in the Azure Urban Resort Residences, with the Hilton-designed beach club, go for just $165,000. Antonio says he believes that the market is growing because the country, thanks to its millions of workers overseas, is building a middle class: “Most of them leave the country poor. The first year they pay their debts, second year they buy personal things, the third year they start investing in real estate.” He says Century concentrates on Manila because “for those making money abroad, it reflects their success.” Son Robbie and siblings have helped make celebrity connections. Photo credit: Julian Abram... [+] Wainwright/Onasia For Forbes Having Paris Hilton or Donald Trump endorse the project can’t hurt, either. Antonio can thank his third-oldest son, ­Robbie, 35, for much of the push into luxury brand partnerships. After finishing his master’s at Stanford University, ­Robbie developed the family’s first building outside Asia, the Centurion, a 48-unit, 19-story condominium building just off Fifth Avenue in New York that opened in 2009. He lined up architect I.M. Pei and his sons’ firm to design the building; back in 1997 Pei’s firm had designed a building in Manila for Century; Antonio and Pei were friends. During his five years in New York, Robbie got to know the luxury players well: “I had been exposed to design, architecture, branding there—and I’m trying to bring it to Manila.” Jose Antonio didn’t start out in real estate. He worked as a systems analyst at an oil company before going back to school for a master’s in business. Then he became a management consultant and later a stockbroker. But the dismal state of the Philippine economy of the 1970s and early 1980s made him realize he had to do something else. “I was motivated by the world’s major achievers; most of them had real estate as one of their major businesses and their source of wealth,” he says. “Real estate development enables one to build something permanent. You can help change the skyline and improve lives.” Believing that the U.S. was the best place to learn, he spent part of 1984 working as a broker for Century 21 in San Francisco. Antonio returned to the Philippines to find that with the political turmoil, the economy was worse than ever. “When things are bad, I look at what you can make out of it. I thought it could not be worse, so I might as well focus on real estate.” His gamble paid off—two weeks after he started his company in 1986, the People Power Revolution began. The market bottomed out, and despite the country’s growing pains and sometimes wrenching business cycles, things have looked up for Century ever since. Century began by developing one building a year. Now it has 63 buildings under management or development, with 42 million square meters and 10,000 units. He started an offshoot, Century Properties Management, after seeing in the U.S. that the best way to maintain the value of a property is through a professional property management company. Antonio began sales for his first luxury building in 1997, and it was sold out in the same year. It was the first development in Fort Bonifacio, and he believed that the former military camp next to Makati would soon benefit from its proximity to Manila’s premier business district. “I thought about how to differentiate our building,” he says. “I said, ‘Let’s construct quality—get a renowned architect to do it.’” So he got Pei Cobb Freed & Partners. Finding the specific needs of his target market and translating them into projects has been another cornerstone of his strategy. When focus groups showed that women buyers dreamed of a quality kitchen, he became the first to deliver a fully fitted kitchen with name-brand appliances. He says, “Being first creates a classification of its own, that you are pioneering good ideas and translating them into products. We are slightly higher-priced, but we learned it’s very wise to offer a fully fitted unit—with cabinets, walls, floors, even a TV. Others sell it bare. When we turn it over, they can move in and hang their clothes. Most of our buyers have little time to decorate their homes.” Century now has three huge projects under ­development. CBRE Richard Ellis’ Santos points out that there is still an undersupply of upmarket homes in the villages around Makati and of luxury condos in Fort Bonifacio and Makati: “There is a great pent-up demand for high-end luxury real estate and a strong need for innovative players.” Antonio isn’t worried about overexpansion, either, citing a healthy business-outsourcing sector, a new generation of entrepreneurs catering to a high-spending middle class and malls extending into diverse areas of the city. “We have a young population,” he says. “The unemployment rate is single-digit. Local banking is conservative and robust. We avoid selling to speculators.” All four of Antonio’s sons help run the family business. John Victor, the oldest, is a co-chief operating officer. Marco is the second oldest; he and Robbie are managing directors and manage specific projects, as does John. The youngest, Carlo, is the chief financial officer. “Every night at dinner,” their father remembers, “I would tell them about my day, my problems, opportunities, excitement, so I think it rubbed off on them.” Says Robbie: “He took us along to his daily trips to construction sites and the office. We ­witnessed how passionate our father was and is about the industry and about transforming the city into a global destination.” Although all the sons went to the U.S. for university— Robbie was an undergrad at Northwestern and the other three went to Wharton—they all returned home to practice what they learned. Their father explains, “I said, ‘Come back because I am creating a platform for growth for you. Bring it to where you want it, but the base is already created.’” At the company’s 25th anniversary celebration last year, Carlo explained the family dynamic: “My father is the head, my mother [Hilda Reyes Antonio] is the heart, my two older brothers are the two legs, and younger brothers are the arms, so we are a complete body.” Antonio’s passion project is Centuria Medical Makati. Antonio believes that medical tourism in the Philippines has lots of potential—not only because the Philippines has a big supply of doctors and nurses, but also because the cost of treatment is far less than in the U.S. “It’s a service that other countries are doing today, which we’re not,” he says. Century also plans to expand into tourism. It is banking land on certain islands and looking for opportunities in tourism-related infrastructure projects. He says, “I would like to be there—bridges, airports, roads.” There are no signs that Antonio will be slowing down soon, and if anything, having his sons onboard has energized him to aim higher: “I will never retire because to retire is to expire.”
48a3067cf3b746358863740b996b9688
https://www.forbes.com/sites/forbesasia/2012/10/11/arabia-asia-tocco-studios-has-the-right-touch/
Arabia-Asia: Tocco Studios Has the Right Touch
Arabia-Asia: Tocco Studios Has the Right Touch Tocco Studios' Vincent Lai and Andy Soh. / Photo credit: MUNSHI AHMED For Forbes BY JENNIFER SCHULTZ WELLS Vincent Lai and Andy Soh were sitting in a class on entrepreneurship at Singapore Management University when they received an unexpected phone call. A group from the Gulf was visiting the university's business incubator and wanted to learn more about one of their companies, Tocco Studios, which was developing a touchscreen prototype. So the undergraduates unexpectedly found themselves in a darkened room with members of the Oman Research Council explaining how their technology worked. In that hourlong meeting the budding entrepreneurs showed the Omanis an onscreen world manipulated by touch using a tabletop display the pair had built from scratch. One touch revealed a map of Paris; a swipe zoomed in on the Eiffel Tower. Using two hands on the screen, they rotated the famous landmark 360 degrees in 3-D. "One council member was so taken with the prototype that he wanted to purchase the technology on the spot," says Soh. It was 2009, the year before Apple released the iPad and a time when multitouch screens were still in the vanguard of interactive technology. The two friends, who say they share a "curiosity in playing with cool stuff," had launched their software business a year earlier, naming it Tocco Studios (tocco means touch in Italian). Ultimately the Omanis did not become customers, but that meeting introduced the entrepreneurs to the idea of doing business in the Gulf. (Click here for more stories focusing on business between Asia and the Mideast.) Oman as a viable market for Tocco Studios came as a "total surprise," Lai says. But Nicholas Koh, a Singaporean management consultant who has been operating in the Gulf sultanate since 2005 and had accompanied the Omani delegation during their visit to the incubator, immediately saw the firm's potential. Over the next few months Koh encouraged the student entrepreneurs to consider selling their software in Oman, with an eye to expanding across the Middle East. High oil prices have meant relatively healthy economies in Gulf countries. For institutions like BankMuscat, the largest bank in Oman, this means beefing up its information technology with such services as that provided by Tocco Studios. Once the pair graduated in 2010, Lai spent eight months in Oman meeting potential clients and building the sorts of relationships needed to do business in the region. Koh is managing director at a legally required local umbrella company under which Tocco operates in Oman. He became a mentor to the young businessmen, helping them develop a market plan for Oman and navigate the cultural differences in business practices. For example, in the Middle East it can take weeks to set up a business meeting, as opposed to a few minutes in Singapore. Koh also emphasized the importance of impressing a department head of a Gulf company rather than relying on getting a consensus around the boardroom table, the norm in Asian business settings. "I had a meeting with one of my clients who took a call from his mother," says Lai. "They talked for about an hour. I wasn't sure what to do. He eventually hung up, and the meeting resumed." Koh also introduced Lai and Soh, now 27 and 28, to the then head of consumer banking at BankMuscat, who was interested in using social and interactive media to both promote the bank's products and services and differentiate itself from its rivals amid increasing competition and rising branch costs. By October 2011 Tocco Studios signed an exclusive agreement with BankMuscat to outfit ten of its branches with full-color, 46-inch touchscreens. These displays allow customers to explore the banks' products and services with a swipe of the finger and send the information to their e-mail addresses, as well as make online appointments with banking officers and instantly calculate loans. But the real value, Soh says, lies in the software. As customers surf, data are gathered about their onscreen choices, providing bank officials a window into consumer preferences to help them to customize services. Sulaiman Bin Hamad Al Harthy, group general manager of Islamic banking at BankMuscat, says the bank has a large, young client base and wants to project itself as tech-savvy. "This technology will increase and ease communication," he added. "Young clients will consider it cool to bank with us." Tocco Studios' success in Oman has paved the way for sales partnerships in Saudi Arabia, the United Arab Emirates and Qatar. The firm, which has posted close to $600,000 in revenue since January 2011, is in talks to raise an additional $500,000 from angel investors to expand in the Middle East and Asia. Lai and Soh, who have opened offices in both Singapore and Oman, count Singapore's Ministry of Home Affairs among their approximately half-dozen clients with sales contracts that range from $20,000 to $100,000. Tocco Studios has 21 employees, including its founders. Looking ahead, Lai says the firm is speaking with hospitality and retail companies that are interested in buying Tocco Studios' technology. Their biggest challenge when dealing with Arab clients continues to be educating the senior managers who make purchasing decisions. Says Lai: "In Asia the question is 'How can I leverage this technology to add value to my business?' while the Middle East is still asking 'What is this technology all about?'"
a08d2c7f9f089ad788c04cf29f99563d
https://www.forbes.com/sites/forbesasia/2013/02/27/asias-women-in-the-mix-renuka-ramnaths-lucrative-intuition/
Asia's Women In the Mix: Renuka Ramnath's Lucrative Intuition
Asia's Women In the Mix: Renuka Ramnath's Lucrative Intuition "I laugh a lot," admits Renuka Ramnath / Credit: Daryl Visscher/Redux Pictures For Forbes By Anuradha Raghunathan When Ajay Bijli, India's largest cinema operator, was looking for funding to buy a majority stake in rival Cinemax last year he knew where to turn: private equity veteran Renuka Ramnath, founder, managing director and CEO of Mumbai investment advisory firm Multiples Alternate Asset Management. Ramnath had first funded Bijli, chairman and managing director of New Delhi's PVR Ltd., in 2003. At the time she was heading the private equity arm of India's ICICI Bank and invested about $8 million for a 38% stake. On the strength of that investment Bijli grew his multiplex chain to 39 screens from 12, fueling the multiplex revolution in the country and taking PVR Ltd. to a successful initial public offering in 2005. Ramnath exited, having quadrupled the investment. So when Bijli was looking to expand further, he tapped Ramnath again. Multiples ponied up $34 million for a 16% stake in PVR Ltd. "Renuka gives you the comfort and ratification that you really need as an entrepreneur," he says. See our list of Women In the Mix In Asia, the top 50 in business achievement and influence. That ability to identify and connect with entrepreneurs has earned the 51-year-old Ramnath a top spot in India's private equity market, which had a deal value of $9 billion in 2012. After running one of India's largest private equity funds for ICICI Bank for eight years, she branched out on her own in 2009, raising $405 million from 15 institutional investors across the globe. Ramnath has to compete with some big funds in the Indian PE market (see table, opposite), but she's carved out a niche by focusing on investments of $15 million to $50 million in midsize companies. She's even roped in some marquee partners: Canada Pension Plan Investment Board, which invests the assets of one of the biggest pension funds in the world, was an anchor investor, putting in $100 million in 2010. Its team conducted six months of due diligence before deciding to invest in Ramnath. "She has a great ability to take calculated risks--which is very important in emerging markets," says Suyi Kim, a managing director for Canada Pension in Asia. "This gives us an opportunity to be a strategic investor in an emerging market led by one of the most experienced private equity investors in India." Ramnath, who's often dubbed "the mother of private equity" in India, was named managing director and CEO at ICICI's private equity arm, ICICI Venture, in 2001, when private equity as an asset class in India was in its infancy. In her eight years at the helm she took it from a below $100 million proprietary fund to a more than $2 billion PE fund with third-party capital. Between 2003 and 2008 she raised, managed, invested and divested the $250 million India Advantage Fund, generating a more than triple return on capital. It's this track record that stands her in good stead as she steers her own fund through India's choppy PE market, which is riddled by poor returns, delayed exits and regulatory uncertainties. "Ramnath's challenge is to deliver strong returns over the long term," says Diana Noble, chief executive of London-based CDC, a U.K. government-owned finance institution and an investor in Multiples. "She has to make this first-time fund successful and stand out from the pack during a very tough period where good investments are hard to come by." Ramnath has invested around 40% of her fund across six companies, including PVR Ltd., South Indian Bank and the Indian Energy Exchange. She's looking to deploy the remaining capital in the next 18 months, and she's betting on a 25% return. Ramnath has always loved a challenge. Growing up, she says, she was a rebel. A middle child--sandwiched between an older brother and a younger sister--she was raised in a middle-class family in the Mumbai suburb of Chembur. In addition to excelling in academics, she immersed herself in a host of activities, from stitching and painting to singing. She had vocal training in Indian classical music for two decades. After her schooling Ramnath studied textile engineering at the premier Veermata Jijabai Technological Institute in Mumbai, at a time when few women chose that field. She graduated in 1982 and went on to do an M.B.A. at the University of Mumbai, where she became enthusiastic about finance. After spending two years as a management trainee at Crompton Greaves, a maker of products related to power generation and transmission, she joined ICICI Bank in 1986, starting out in merchant banking. That same year she married a chartered accountant and soon after started a family, giving birth to a son and a daughter. But tragedy struck in 1995. Her husband died in a car accident, and Ramnath had to raise two children, then ages 7 and 3, on her own. "I had this one mission: My children will see no pain; they'll not miss a single thing in life [despite not having a father]," she promised herself. Her parents moved in and helped raise the children, who are now studying in the U.S. "All the basics were covered for me," says Ramnath. "I could be sure that my children had the right food, that they were always safe and that they were disciplined. So I could focus on their values, exposing them to extracurricular activities and making them confident." Life fell into a pattern: Weekdays were all about work and advancing in her career, and weekends were about assignments and schoolwork. "It was work, work and children, children, children," she says. "There was no room for anything else." Meanwhile, at ICICI she went on to lead one of the divisions of the corporate finance business in 1993. And in 1996 she started heading the equities business. A year later she set up the bank's structured finance business. But it was only in 2001, on joining ICICI Venture, that she found her real calling--private equity. Ramnath is credited with bringing risk capital to India's sunrise sectors of the early 2000s, including organized retail--big supermarkets, hypermarkets and retail chains--biotech and aviation. Her early investments ranged from India's first low-cost airline, Air Deccan, to retail venture Pantaloon and water management company VA Tech Wabag. She also engineered India's first buyout when she bought out Tata Infomedia. But in 2009 she decided to move because she felt she'd hit a ceiling. "This isn't a glass ceiling because I am a woman. I don't think I was helped or hindered by the fact that I am a woman," she says. "But there was limited potential for me to grow, and there were irreconcilable differences between how I wanted to run the private equity business and the way ICICI wanted to control it." Her departure was marred by an investment gone awry. In January 2009 India's biggest discount retailer, Subhiksha, ran out of cash and closed its 1,600 stores nationwide. Ten months earlier ICICI Venture had sold nearly one-third of its 33% stake in Subhiksha to IT czar Azim Premji's investment company, Premji Invest. When the retailer collapsed Premji Invest sent legal notices to Subhiksha's directors, including Ramnath, alleging they did not perform their duty and failed to reveal Subhiksha's problems. Ramnath, who denies the charges, says Subhiksha had potential but keeled over when it couldn't raise capital at the right time. Both ICICI Venture and Premji Invest wrote off the value of their stakes; Premji Invest officials say legal proceedings against Subhiksha's ex-directors are pending and further legal options are being evaluated. Despite the controversy, Ramnath's reputation survived. "Although her exit from ICICI Venture wasn't smooth, she bounced back with one of the ?market's largest new funds," notes CDC's Noble. "She's an amazingly strong and ?talented woman." Ramnath, a big believer in God and spirituality, named her company Multiples at the suggestion of her spiritual guru. The first person to come onboard as an employee was Sudhir Variyar, a former director at ICICI Venture who had left along with her. The two of them wooed dozens of investors across the country. Variyar was struck by how Ramnath never had a standard spiel when she met would-be investors. "She would start at a different point with every investor," he recalls. "She's so spontaneous and intuitive. She doesn't just network. She really connects with people and engages with them. It comes very naturally to her." Ramnath also uses intuition when it comes to investing, looking beyond stats and spreadsheets. She meets promoters, talks to their spouses and siblings, and interacts with customers. "Investment is not an administrative business," she says. "I like to feel the energy in a place. I am not operating in some blind faith. I want to make sure that all interested partners are aligned and that they are blessing the transaction. Generally, I engineer a meeting with a promoter's wife or brother to make sure there's harmony--legally and otherwise." She hones in on subtle signals: the tone of voice a father uses with his son, how owners treat their employees, how customers talk about a company. Before she invested with PVR Ltd. in 2003 she studied everything from the carpets to the candy bars. And once invested Ramnath insists on complete transparency and accountability. "I am very demanding on performance," she says. It's this hard-hitting side that most people hear about, and those meeting her for the first time are surprised by her infectious laughter, which frequently fills her office facing the sea in the upscale Mumbai neighborhood of Worli. "I laugh a lot," admits Ramnath. "I often joke that people come back a second time just to make sure that they actually visited Renuka."
3f2b9113ee968a49bfadf9efbb638469
https://www.forbes.com/sites/forbesasia/2013/05/29/heroes-of-philanthropy-kiran-mazumdar-shaws-affordable-health-care-legacy/
Heroes Of Philanthropy: Kiran Mazumdar-Shaw's Affordable Health Care Legacy
Heroes Of Philanthropy: Kiran Mazumdar-Shaw's Affordable Health Care Legacy By Anuradha Raghunathan For 30 years Kiran Mazumdar-Shaw and Nilima Rovshen were best friends, since their days as single professional women in Bangalore at a time when Indian career women were rare. After Rovshen was diagnosed with breast cancer in 2002, Shaw watched her friend suffer through a long procession of chemotherapy, radiation therapy and immunotherapy. "She is someone I nursed for six years," says Shaw, India's first biotech entrepreneur. Shaw took her on a vacation to Spain for Rovshen's 60th birthday. She died a few months later after whole-brain radiation therapy. "I saw the struggle that she went through--the crippling financial burden, the treatments, the disease itself. I know how awful it is. I just had to do something." (See our list of 48 Heroes of Philanthropy who are making a difference in Asia.) So after Shaw's pharmaceutical company, Biocon, went public in 2004--making her India's richest self-made woman--she kept her promise to combat cancer. Since 2005 she's donated some $33 million to philanthropic causes, and diagnosing and researching the disease and caring for patients is a big part of this. The centerpiece is the 1,400-bed Mazumdar-Shaw Cancer Center , built in 2009 in Bangalore and specializing in head and neck, breast and blood-related cancers. In 2011 she added a center for advanced therapeutics with a bone marrow transplant unit. And this year she set up a research center. One area of focus is on devising more effective and safer ways to deliver drugs to patients. "I am constantly trying to add value to what I've already built," she explains. Meanwhile, Shaw, 60, continues to support her original cause--making affordable health care more available for India's vast number of rural poor. She bankrolls the eight-year-old Biocon Foundation, which offers a micro-health-insurance scheme for villagers, runs nine primary health care clinics across Bangalore's state of Karnataka and organizes health camps. While the camps are free, the clinics and the insurance plan charge small fees. "My legacy is going to be in affordable health care," she declares. "I am willing to invest in developing that model and the policies around it." Since 2005 Shaw has turned over at least half of her annual Biocon dividends to these programs. And now she has pledged that 75% of her wealth will go to philanthropy after she dies. She hasn't been approached to sign the Giving Pledge, an effort by Bill Gates and Warren Buffett to get the world's richest to give half their wealth to philanthropy. "I would certainly sign the pledge as a way to get others to understand the importance of philanthropy to change our world," she says. Shaw's commitment to her causes hasn't flagged even though her net worth has plummeted since peaking at $900 million in 2010. Last October FORBES ASIA put her fortune at $625 million after Biocon shares had fallen 40% in two years--thanks to a giant marketing deal with Pfizer falling through and then a Portuguese investment bank questioning Biocon's accounting policies; the company denied any irregularities. The shares have regained 5% recently. Biocon cut its dividend in 2009 and 2010 during the global financial crisis, but Shaw says she maintained her same level of donations. "So far there have been no cutbacks, only increases," she says. "I would not cut back as I have a philanthropic mission to build a world-class cancer center. All my plans are on track." Her philanthropic goals and business goals are closely aligned. Indeed, her overarching business strategy is to develop affordable therapies for chronic diseases. Biocon, with a $93 million profit on $466 million in revenue for the year ended Mar. 31, develops and markets drugs that fight cancer, diabetes and autoimmune diseases. In 2006 it rolled out India's first drug to treat head and neck cancers. And this year it received Indian regulatory approval for a treatment of the skin disease psoriasis. Biocon is also investing $166 million in an insulin plant in Malaysia. Shaw's dedication to her crusade against cancer has been repeatedly reinforced. In 2007, while the cancer hospital was being built, her Scottish husband, John Shaw, Biocon's vice chairman, was diagnosed with cancer of the kidney. He was treated in London and is now free of the disease. "But I went through a very traumatic year," she says. "I realized what a debilitating disease it was." Then in 2011 her mother was found to have breast cancer and underwent a mastectomy at the cancer center. She has survived. "There's a lot of personal impact because of cancer, and that drives me to do more and more," says Shaw. The need is readily apparent. There are 2.5 million cancer patients in India, and 500,000 die each year. Cancer is the second-leading cause of death, after heart disease. And as awareness of the disease and diagnostic skills increase, some one million new cases are spotted every year. This is expected to triple in 20 years. With more than 60% of cancer patients in the 35-to-65 age group, the economic impact is huge. "The incidence of cancer in India is increasing, and it may be because of changing lifestyles," says Toral Gathani, head of epidemiology at the INDOX Cancer Research Network, a partnership of Oxford University and 12 of India's leading cancer centers. "In urban India there's an increase in obesity, which will have an impact on the risk of developing cancer." Gallery: Kiran Mazumdar-Shaw 8 images View gallery Trying to address the scourge, Shaw aims to blend good-quality cancer treatment with affordable care. "The way we look at cancer in India, the way we diagnose it and the way we treat it is so ad hoc," she says. "It doesn't give patients confidence that the doctors know what they are doing." So her Bangalore cancer center takes a systematic approach. There's a tumor board where each case is evaluated by a team that includes a radiotherapist, a medical oncologist, a pain specialist, a speech and swallowing expert, a financial expert and a sociologist. The board determines the treatment regimen for every patient. It turns out that Shaw's upper-middle-class upbringing in Bangalore prepared her well for a business and philanthropic career. Her father was the managing director of spirits company United Breweries, and she studied at Bishop Cotton Girls' School and then at Bangalore University, where she majored in zoology. She started work as a brewing consultant, armed with a master's degree in brewing from Ballarat University in Australia. But she couldn't get a full-time job as a brewer, so in 1978 she veered into specialty enzymes, starting with around $1,000 in seed money. She set up a manufacturing unit with an Irish partner, and it became India's largest enzyme company. Eventually she transformed it into a biopharmaceutical company in the early 2000s. She says her business training helps her understand the economics of philanthropy: "Philanthropy is not charity; it is about social impact." Cancer is a vast field and Shaw is finding her own niches to target. For example, India is the world capital of oral cancer, reporting up to 80,000 new cases a year and 86% of the world's cases. The widely accepted practice of chewing betel quid, betel nuts and tobacco is primarily responsible. And many poor people use a popular product called "gutka"--a sweetened mixture of tobacco, betel nut and palm nut--as a mouth freshener. Many states ban gutka, but the bans are often ignored. "This is India's cancer," says Shaw. "So we must be world leaders in diagnosing, understanding and treating it. In the next few years I want this to be a global center for head and neck cancers." The problem with oral cancer, however, is that it's often spotted at a late stage. One out of three patients dies. So Shaw's foundation is putting its energy into early diagnosis. Last year it reached out to nearly 2,000 high-risk--read tobacco-consuming--people in rural Karnataka. It trained community health workers to take surveys on their smartphones about tobacco-chewing patterns, among other items. Health workers photographed suspicious lesions right on the spot and sent the images to an oncologist sitting at the cancer center. Two cases of cancer were found. One person is pursuing treatment; the other died because the disease was too advanced. Now the Biocon Foundation wants to scale up this pilot project to reach 20,000 more people in rural Karnataka. It also collaborates with dental colleges and dentists to find problems so biopsies can be performed on suspicious lesions. And doctors at the foundation's clinics are always on the lookout for oral cancer. "I've referred a few cases--people come in for something else, and then I see some symptoms [of oral cancer]," says Dr. Sankalagere Chikka Putta Swamy Prakash, who runs the clinic in the village of Huskur. He sees 70 patients a day. "There are a number of patients--men and women--who chew tobacco." With early diagnosis in the field in full swing, Shaw also sees research as an important piece of the puzzle. At her hospital's research center, scientists are looking at how to find oral cancer through saliva tests. Also, researchers are building a huge cancer-tissue repository. This will be used to personalize cancer care--to understand who responds best to what type of drug or treatment before administering it. In another advance the research center did a genome sequencing of tongue cancer to learn how the disease progresses. Shaw sponsors two oncology fellowships at the Koch Institute at the Massachusetts Institute of Technology each year. "Through these fellowships I am hoping that we can build a new breed of scientist who will come back to India and work," she says. "We need people with original research capabilities, not me-too research." Meanwhile, the cancer center does roughly 80 cancer surgeries a month. Shaw financed the buildings, the cancer wards and the specialty units, but the center is run as a for-profit business. Low-income patients get free or subsidized care, sometimes covered by the Mazumdar-Shaw Medical Foundation, which Shaw launched this year with $1 million in funding. One patient who benefitted is Appi Reddy, 66, who recently was treated for a brain tumor. He's covered under a government insurance scheme, but it pays up to $740 only. His bill: nearly $24,000. His family is dependent on a 4-acre farm that grows groundnuts and millet, but with little rain this year and Reddy often in the hospital, there's not much income. His son, Prabhu, earns just $300 a month at his job, so he can't pay the hospital bill either. But hospital officials took note and waived many of the charges. "We do our best to accommodate every needy patient," says Dr. Paul Salins, the center's medical director. That's something Shaw's friend Nilima Rovshen would have appreciated as her enormous bills were piling up. Her name will soon grace the center's breast cancer unit, which is under construction. It's a reminder of her spirited battle with cancer and also of the two women's long friendship.
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https://www.forbes.com/sites/forbesasia/2013/06/24/the-wind-behind-red-bulls-wings/?sh=3bd47ecf7b79
The Wind Behind Red Bull's Wings
The Wind Behind Red Bull's Wings By Nitin Pangarkar and Mohit Agarwal Red Bull Racing team owner Dietrich Mateschitz is pictured ahead of the Spanish Formula One Grand... [+] Prix at the Circuit de Catalunya on May 13, 2012 in Barcelona, Spain. (Image credit: Getty Images via @daylife) From an unlikely partnership between an Austrian businessman and a Thai tycoon, drinks firm Red Bull has delivered astounding results. Founded just 25 years ago, the company saw global revenues hit just shy of 5 billion euros ($6.5 billion) in 2012, selling more than 5.2 billion cans of drink in 165 countries. In the process, its founder Dietrich Mateschitz became one of the richest (net worth $7.1 billion) and most successful businessmen in Austria and his Thai co-founder, the late Chaleo Yoovidhya, one of the richest (net worth $5.4 billion) men in Thailand. More than just another global brand, Red Bull’s runaway success also spawned an entirely new category in the global F&B market: the energy drink. There are some well-known strategies behind Red Bull’s success including its involvement with extreme sports such as hang gliding and bungee jumping and its participation in the F1 circuit through its eponymous team. Its slogan “Red Bull gives you wings” has seen the firm attach its brand (and considerable financial resources) to some high risk adventures in the world of aviation, including last year’s highest ever free-fall parachute jump from 39 kilometers above the Earth. This adventurous spirit is a reflection of Red Bull’s freewheeling corporate culture that has enabled the company to build an enviable performance record over the last 25 years. Mateschitz himself personifies this culture. He eschews bureaucracy and famously rejected the recommendations of a market research report which advised to him to not even try to launch an energy drink.  He relied on his gut-feel instead and spent one year changing the formulation of the drink from the original Thai version and another two years fine-tuning its marketing and communications strategy.  The drink was launched in Austria in 1987 and in many European countries before the end of the millennium. In a 2001 interview with the Financial Times, Mateschitz was quoted as saying that “(Marketing is a simple job requiring) only a clear mind and bright eyes. Perkiness is the only prerequisite. Everything else you can learn quickly.” Mateschitz also pursued his passion for flying by maintaining a collection of classic airplanes (one belonging to Late Marshall Tito) housed in a futuristic wing-shaped hangar near red Bull’s global headquarters.  True to this passion (and its slogan), Red Bull employees have been reimbursed for taking flying lessons. Mateschitz’ quirkiness is also evident in a number of other respects—the company HQ is in the tiny village of Fuschl in the Austrian Alps; he consumes several Red Bull cans in a day; and, despite his fame and fortune, rarely gives media interviews. Possibly to preserve its unique strategies and resist external influences to change, Mateschitz has financed most of Red Bull’s expansion through internal profits rather issuing shares to the public or raising debt. In fact, for the first 15 years of its existence, little profits were taken out of the company. The freewheeling culture allows Mateshitz and Red Bull to attract quirky people who have interesting ideas about taking the brand and the company forward.  Harry Drnec, a former CEO of Red Bull’s U.K. operations was a fighter pilot during the Vietnam War and was credited with the spectacular rise of Mexico’s Sol beer in the intensely competitive premium-beer segment in London. While leading Red Bull (U.K.), Drnec implemented innovative strategies especially in distribution focusing efforts on non-conventional garage forecourts, convenience stores and nightclubs and growing sales from 6 million cans in 1996 to 300 million cans in 2006. The company building in Fuschl also typifies the two aspects of its culture—quirkiness and passion about the brand.  The building is shaped in the form of two volcanoes with a herd of bulls spewing out from the volcanoes instead of lava. Red Bull’s award-winning Canadian HQ is also spectacular and has been described as “more nightclub than office.” With sports like skateboarding and frisbee played in the atrium, a visiting journalist termed the Canadian HQ as being “for the young or the young at heart.” Red Bull’s freewheeling culture goes beyond office symbolism, however, and is also about freedom for each country operation to pursue strategies that they believe to be most appropriate to their local market. Red Bull Canada, for instance, is more heavily involved in music (it aims to be a music producer) and arts (it owns a gallery space to exhibit, among other types of art, quirky and non-traditional art such as Canada’s Best Doodle Art) than most other country operations. Red Bull’s U.K. operations meanwhile have tried to launch new products such as Simply Cola and Carpe Diem, a herbal drink. While these efforts haven’t achieved much in the way of business success – something that may be considered as an issue - the important point is that the freedom to pursue new strategies reinforces the freewheeling culture. Even in the freewheeling culture, Red Bull has maintained consistency in its marketing and communications strategy. In Mateschitz’s words, Red Bull has been “speaking in the same tone of voice” since its launch in 1987. While serving as the glue holding the global organization together, the freewheeling culture has its downsides. Unlike a globally coordinated corporation, neither its overall strategy, nor its marketing communications are tightly integrated. Inefficiencies may also creep in from particular initiatives. At a cost of $220 million, Red Bull’s Major League Soccer (MLS) stadium in New Jersey was twice as expensive as any other MLS stadium in the U.S. with analysts questioning whether the investment would ever bear fruit. Red Bull may also be less efficient than it could be because there are few efforts to share best practices across different operations or to streamline processes. These inefficiencies have not impacted Red Bull in the past because of its premium pricing and dominant market share in many markets. Thus far, caffeinated drinks have faced few restrictions, however the Food and Drug Administration has recently begun to look into the safety of their ingredients. Lawmakers are deliberating whether to impose new regulations or limits in marketing the drinks to children and young people. Despite its shortcomings, the freewheeling culture has paid rich dividends for Red Bull, especially for its founders and employees. It also shows the powerful impact created by a strong corporate culture—in terms of attracting employees and implementing innovative strategies. Clearly there is much to learn from Red Bull. Nitin Pangarkar is associate professor of strategy and policy at the National University of Singapore Business School and Mohit Agarwal is an engineering undergraduate at the Indian Institute of Technology, Kharagpur, India.
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https://www.forbes.com/sites/forbesasia/2013/11/20/sri-lankan-dhammika-pereras-master-plan/
Sri Lankan Dhammika Perera's Master Plan
Sri Lankan Dhammika Perera's Master Plan By Jon Springer Dhammika Perera didn't become one of Sri Lanka's richest people by luck. It was actually by design. Back in 1999, when he was 32, he developed a 20-year plan for his fledgling businesses with the help of a mentor. His audacious goal: Become the country's leader in each of 12 sectors by 2019. He's already succeeded in 9 of the sectors, building best-in-class companies in tourism, banking, apparel and other industries. Indeed, his Royal Ceramics Lanka appeared in 2010 and last year on FORBES ASIA's list of the best 200 listed Asia-Pacific companies with under $1 billion in annual sales. Today his empire boasts 23 listed companies--that's 8% of all companies traded on the Colombo Stock Exchange--and dozens of private ones. His reach extends to Thailand, Indonesia, Japan, the U.K. and elsewhere, and those outfits employ some 62,000 people. He supplies Wal-Marts in Canada, makes blue jeans for Levi's and produces tea that's shipped worldwide. With Sri Lanka growing fast since its 26-year civil war ended four years ago, his companies are taking off. His listed stakes are worth $190 million. But his three Colombo casinos and other unlisted assets boost his wealth to roughly $550 million, one of the country's four biggest fortunes (see below). He says his companies pay 5% of all corporate taxes in Sri Lanka, and his goal is to raise that number to 10% because "more taxes mean [his companies are getting] more business and a bigger market share." Perera, 45, works from a cavernous and spartan office on the 29th floor of the west tower of Colombo's World Trade Center, the country's tallest buildings. But this isn't an executive suite; it's an investment office. He doesn't run his companies--he buys controlling stakes in them. Using mathematical models that he's developed over the years, he's a numbers guy who hunts for undervalued assets and then swoops in. Once he has the right managers in place, he gives them their head. A turnaround artist, he gets credit for revamping much of corporate Sri Lanka, which stagnated during the long years of war as foreign investors stayed away and competition shriveled. There are only a handful of pictures in his office, and two of them are of Perera shaking hands with Sri Lanka President Mahinda Rajapaksa. He is a big fan of Rajapaksa. "Only he had the guts to end terrorism," says Perera. "He put himself in harm's way." The president, in turn, has appointed Perera to top government positions. He was chairman of Sri Lanka's Board of Investment for three years, until 2010, where he would meet with anyone looking to invest $50,000 or more in the country. He's now Sri Lanka's secretary of transport, working to develop the highway system as part of a 25-year master plan. He's also one of five board members of the Strategic Enterprise Management Agency, which oversees state-owned enterprises. These posts, all unpaid, have generated criticism from some for the appearance of conflicts of interest and praise from others for his service to the country. Perera's story isn't rags-to-riches. He says his great-grandfather was the richest person in his home village of Payagala, an hour's drive south of Colombo. He owned most of the farmland in the area, but being rich in poor, rural Sri Lanka was like being middle class in Colombo, which is how Perera grew up. His father was in the grocery business. He credits his mother, a schoolteacher, with teaching him cash-management skills. She began giving him an allowance of $3 a month at age 11, and for eight years he had to stretch that money to pay for drinks, food and school fees. A born investor, he started as a teenager by putting money into a street hawker's business in front of his uncle's café. Then he rented slot machines and installed them inside the café. In 1987, with the country four years into the civil war, Perera dropped out of the University of Moratuwa, a top technology school south of Colombo. Instead, he went to Taiwan for three months of technical training, then returned home and started a business making slot machines, instead of just renting them. He hired his 17-year-old brother, Harindra, as the floor supervisor of their new factory. (Their youngest brother, Anuradha, was only 15 at the time but now is also in business with them; they have one sister.) In 1993 he moved into the gambling business itself, opening his first casino. He's replacing the casinos now, starting with construction of the 40-story, 500-room Queensbury Integrated Resort & Casino, which will cost $350 million. But he no longer makes slot machines, and he likes to downplay his involvement with casinos, saying they account for only 3% to 4% of the total profits of his companies. In 1999 his career took a new direction when he found a mentor in Nadeem ul Haque, the senior resident representative of the International Monetary Fund in Sri Lanka. Perera says ul Haque, "encouraged [him] on how to behave, how aggressive to be." Ul Haque organized a seminar for him on infrastructure and business development at KfW bank in Germany. Perera came back "with a new perspective on mathematical models." He had earned a better appreciation "for how to avoid risk factors and for cash-flow management." Ul Haque and Perera then sat down and drew up the 20-year plan. With six years to go Perera still needs to conquer 3 of the 12 sectors: health care, insurance and telecoms. He has plans for the health care and insurance sectors, but he is still pondering what the right business model will be for telecoms because the technology changes so rapidly. Today ul Haque, now the deputy chairman of Pakistan's planning commission, looks back at how Perera has been able to maneuver around Sri Lanka's often business-stifling government: "I was particularly impressed by how he converted limited regulatory space into a financial empire. Even more interesting, he was able to lever his business empire into politics and established himself at the policy level in Sri Lanka." One of the 12 sectors is tourism, and Perera began investing there in 2000 in anticipation of the war ending. He now has a number of luxury resorts and hotels--600 rooms in all, with another 1,200 in the pipeline. Sri Lanka got more than 1 million visitors last year for the first time. He envisions 2.5 million visitors by 2016 and 5 million by 2020. A chat with Perera begins with math. He has built his empire largely through acquisitions--15 in all--and for him, fixing companies comes down to getting their mathematical models right. His staff researches business models and balance sheets. "With that knowledge, [we] can identify companies" that are good acquisitions. He makes it sound easy. "Of course!" he says. Some purchases, however, don't pan out, and Perera isn't shy about discussing them. There was a clothing and department store business he exited after one year because custom duties made the business model unworkable. He had a small interest in three ships for a decade, but the global recession that began in 2008 made the shipping business "no longer worth the headache." There was a local bank he bought with the idea of using it to buy other assets and then turning it around. But reviving it turned out to be more complex than he anticipated, and it failed to give him access to other deals he wanted, so he sold out after 2 years. Perera is also proud to recite his successes. Royal Ceramics Lanka, which makes ceramic tiles and porcelain bathroom fixtures, earned only $400,000 in 2000, when he bought it; it's expected to post $18 million in profits on $127 million in revenue for the year ending Mar. 31. Local bank Sampath went from a $10 million profit in 2007 to a $41 million profit last year. He saw untapped value in 135-year-old conglomerate Hayley's and began buying up stock. He's now the largest shareholder; Hayley's is his biggest deal and, with $615 million in revenue for the 12 months ended Sept. 30, it's his biggest company. Profits have soared from $2.8 million in the year ended Mar. 31, 2009, when he joined the board, to $20.5 million over the 12-month period. His right-hand man in dealmaking is Nimal Perera, who is unrelated. He met Nimal after buying Pan Asia Banking in 2000. Nimal, 54, worked there and advised Dhammika on buying shares. After he decides on a purchase, Nimal closes the deal. Dhammika sets annual goals for each company, and if it meets the goals, then the management is left alone and "we're just investors," he says. If the company doesn't perform, then the two "interfere in the business" to bring it up to par. Turning around a company begins by changing the management and changing the business model, says Dhammika. He compares a company with world standards by looking at the best company in that sector and aiming for that level. Many of Perera's private holdings are waiting to reach a certain size before they're packaged for an initial public offering. His first holding company, Vallibel One, contains stakes in seven of his listed companies and went public in June 2011. He plans to create a Vallibel Two, Three, Four and Five. Three of these will be for his children, all daughters, ages 13, 10 and 7. "They will own the business, but professionals will manage it," he says. And the other two Vallibels? "For charity." As a Buddhist, as is most of the country, Perera meditated regularly for two years beginning in 1999. He credits meditation with increasing his focus, but he felt that the experience was becoming too intense and he stopped. He doesn't like to drink or watch movies. He likes cars but only Mercedes--he has six of them. He says he's owned only two watches in his life, both Rolexes. But these signs of wealth don't seem important to him. What he really enjoys is spending his leisure time studying the business models of companies around the world. "I need a little pressure on my mind to be happy," he says. "Then I feel aggressive, able to work and feel pressure. Otherwise, I'm lazy, too relaxed." The Wealthiest Sri Lankans Dhammika Perera's estimated $550 million fortune is most likely one of the four biggest in Sri Lanka. It's impossible to rank the four piles because much of the wealth is held in private assets, but in alphabetical order, here are the other three: Sohli and Rusi Captain Family is the largest shareholder in conglomerate John Keells Holdings and Chemical Industries Colombo. Investments include banking, paint, agribusiness, raw materials, packaging and pharmaceuticals. Stock market wealth totals $185 million. Father Sohli turned 80 in September; son Rusi, 48, a graduate of the University of Miami in Florida, is an entrepreneur and investor. Harry Jayawardena Chairman of the Stassen Group, which he founded as a tea exporter in 1977, and conglomerate Distilleries Co. of Sri Lanka. The 71-year-old was awarded the Knight's Cross of Dannebrog by Queen Margrethe II of Denmark for his contributions to Danish arts, sciences and business. Hari and Mano Selvanathan The brothers' empire is largely private. Their listed companies Carson Cumberbatch, Bukit Darah, Ceylon Beverage Holdings and others are involved in palm oil, financial management, brewing, real estate and hotels. Hari, 64, and Mano, 66, are the grandsons of an Indian immigrant who arrived in Colombo nearly 100 years ago, started a petrol station and never stopped expanding.
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https://www.forbes.com/sites/forbesasia/2013/12/04/peoples-streets-what-will-walkable-urbanism-look-like-in-china/
People's Streets: What Will Walkable Urbanism Look Like in China?
People's Streets: What Will Walkable Urbanism Look Like in China? Gallery: Walkability In Shanghai's New Free Trade Zone 5 images View gallery By Jonathan D. Solomon As Shanghai's new Free Trade Zone amid announcement of policy reforms, there is much discussion over the its role in the future of Shanghai, and China’s economy. Few seem to be asking whether it will even have walkable streets, public transportation, and buildings with a mix of uses at a mix of scales. A Brookings Institution report has shown that walkability – a neighborhood’s accessibility by public transportation and on foot – influences a neighborhood’s economic performance. A recent study in China showed that walkability has serious implications for public health in the country. Mixed-use development encourages walkability and improves health. Looking to build an innovation economy? Build more coffee shops. Cities are drivers of economies, and Chinese cities already have many of the right elements: a growing middle class is seeing rising household incomes. An ambitious infrastructure program is set to add 800 miles of subways to China’s cities in the next two years. Seen in this light, the urbanism of Pudong may well have a more lasting effect on China’s economy than the policy’s it is a testing ground for. The question of what kind of city will be built within the Free Trade Zone's borders may not be being asked because unlike the sparsely inhabited agricultural lands that China developed as Special Economic Zones in the 1980s and 90s, the Free Trade Zone is largely already developed, a discontinuous territory of warehouses, port facilities, and airplane hangers. When Deng Xiaoping inaugurated the Shenzhen SEZ in 1980, it was with the purpose of building a new city. The Shanghai Free Trade Zone, four sprawling sites comprising 11 square miles, has more to do about changing the rules of business for a part of the country already defined by economic exceptionalism. Occupied by agriculture and small villages as late as 1993 the 467sqm Pudong New Area Special Economic Zone is today home to over 5 million inhabitants. With a GDP estimated at $77 billion. Pudong is not so much a city as a patchwork of special economic districts: At the Western edge, opposite the staid deco facades of Shanghai’s colonial Bund, is the Luijiazui Financial District, where the 121 story Shanghai Tower recently topped off at 2,073 feet. To the northeast is the Waigaoqiao Free Trade Zone. The Jinqiao Export Processing Zone is a major industrial area. Zhangjiang Hi-tech Park is a special area for technology-oriented businesses. Aside from a few showcase projects, urban development in the area has not been integrated. Focusing on showcase infrastructure, the area’s growth has not been designed to develop neighborhoods. Planned communities such as the Pu Jiang and Feng Cheng new towns – part of the “One City Nine Towns” plan launched in 2001 – were modeled after European villages to attract middle class residents, but have failed to compete with real estate in the center city. These neighborhoods have the walkable blocks of a small town in Europe or North America, but they lack the energy and potential that make Shanghai a place where people want to live. Luijiazui, with its wide streets and glass towers, may seem like a strange place to look for walkable urbanism. Once mocked for being soulless, the neighborhood is now on the rise among the city’s growing middle class. One addition that has helped make the neighborhood work: a new, elevated pedestrian walkway joins together a series of shopping malls and links the metro station with the area’s parks, office towers, and waterfront promenade. Shanghai Tower’s "vertical communities" also offers a possible solution. Sky lobbies offering shops, restaurants, and urban amenities amid light-filled gardens appear every 12 to 14 stories in the tower design. Joined by the world’s fastest elevators, the building will be a city within a city, including offices, hotels, retail space, and links to transit. Will walkable urbanism in China look like it does in Europe and North America? Not necessarily. If Shanghai Tower and other buildings like it can become neighborhoods, they will be a driving force in Pudong, Shanghai and China’s urban future, creating both opportunities and challenges. Not the least of these challenges would be the question of how to provide public rights to a city composed of private pieces. With an urban population of 712 million and growing, answers to questions such as these may ultimately have greater a greater impact on the country’s future than any economic reforms. Jonathan D. Solomon is Associate Dean at the School of Architecture at Syracuse University and the author of Cities Without Ground, a book on the complex three-dimensional urbanism of Hong Kong.
8a9f3f2c379cf6d8d47d7fe62a7c9fdf
https://www.forbes.com/sites/forbesasia/2014/02/26/singaporean-with-sizzle/
Min-Liang Tan's All-Seeing Razer Nabu
Min-Liang Tan's All-Seeing Razer Nabu By Jessica Tan A couple of weeks before the launch of a sexy new product at the CES trade show earlier this year, Razer's 37-year-old CEO had an uncanny moment while watching the movie Paranoia on board a plane bound for Taipei. In true Min-Liang Tan fashion he tweeted about it as soon as he got off the plane: "Just watched a sci-fi movie. Was scary to see a character describe in detail a product in the future that we're actually working on now." That product is the Razer Nabu, a smart band that's a hybrid of a smartwatch and a fitness band. Like the gadget in the movie, the Nabu is an "all-seeing, all-knowing product," says San Francisco-based Tan, who cofounded the entertainment devices company almost a decade ago. Dressed in his signature black T-shirt and jeans in his Singapore office for the interview, he cuts a dashing figure and comes across as a refreshing next-gen Singaporean entrepreneur. He has a flair for design and stays connected with Razer fans via tweets and status updates on Facebook and China's Weibo. Tan is a complete contrast to Singapore predecessors like media-shy Sim Wong Hoo of Creative Technology, the company that launched one of the world's first MP3 players in 1999 but failed to lead the market because of the weakness of design and marketing, losing out to Steve Jobs' 2001-released iPod. The Nabu, named after an ancient god of wisdom, won the Best of CES 2014 Readers' Choice award and is expected to hit the retail market the end of this month. Calling it a "smartband," a cross between smartwatches like Samsung Galaxy Gear or the Pebble and fitness bands like the Fitbit, Tan says the Nabu does a couple of things really well. "It solves the dinner time problem," says Tan, in that it streams all notifications from one's smartphone so that whenever a call, Facebook message or e-mail comes along, notifications appear on a slim Nabu screen, sparing the phone click. It also does the job of a fitness band as it collects all kinds of data such as calories burned, steps walked and hours slept in a day. Furthermore, the Nabu boasts a social aspect. It's able to exchange data, adding, for instance, someone to your Linked?In network, through a simple band-to-band handshake. Sounds impressive. Yet as much as Razer might have proven itself in the gaming devices industry, where it has sold millions of gaming laptops, mice and tablets worldwide over the past decade, does it have the X-Factor to claim a slice of the hot global wearables market? It doesn't have much of a choice. "Razer's traditional business of gaming laptops and peripherals is likely to see a more narrow growth because of the general decline in demand in PC gaming," says Gartner principal analyst, Shalini Verma. "The move into wearables is a natural extension for a PC peripherals company. So I think this is a move in the right direction." Gartner predicts that global revenue from wearable electronic devices, apps and services for fitness and personal health will be $1.6 billion in 2013. By 2016 that figure will hit $5 billion. But everyone's eyeing the same pie. Samsung's Galaxy Gear and the Pebble have been creating a buzz, and now all eyes are on highly anticipated smartwatches from Google and Apple. Verma believes that Razer's investment in wearables is promising. "The Nabu has tried to combine the best of capabilities available in smart wristbands and smartwatches. In that sense it is an improvement on existing products." Though, she notes, Razer will need to put in strong marketing efforts to make Nabu a success against known brands such Samsung. "In terms of Razer's long-term prospects, it would have a sustained opportunity if it is able to build a platform for attracting a third-party apps community that can collect user information via Razer's sensor-based wearable devices." Toward this end Razer has created the Nabu to operate on an open platform. The company is on a drive to welcome third-party developers to build apps for its smartband. The company has not released its retail price but will offer developers a discounted price of $49 for them to create and develop applications for its smartband. Razer also has a fan club with members from high places. In 2008, 15 angel investors, including big names such as Lee Hsien Yang, the former CEO of Singapore Telecommunications and the brother of the Singapore prime minister, and the prolific Koh Boon Hwee, who was formerly the chairman of Singapore Airlines, SingTel and DBS Bank, gave the thumbs up to Razer. "Most of them did their due diligence by asking their kids: Do you know Razer?" Tan says. Then came along China-focused venture capital firm IDG-Accel, backers of Nasdaq-listed Chinese internet companies like Baidu and Ctrip in 2011 and Temasek Holdings in 2013, which both picked up minority stakes. "They've been superactive and incredibly helpful," says Tan, declining to elaborate. He maintains that he owns "a little less than half" of Razer, which is profitable and sells one product "every six seconds" across the globe. Based on latest available financial data, an estimate of Razer's revenues for 2013 is in the ballpark of $250 million. Tan's net worth will likely be underscored by a planned listing in the U.S. in the near term. Not bad for someone who took a chance with a career switch from being a lawyer back in 2005 in Singapore, when he started Razer with an online gaming friend Robert Krakoff, who was then living in Carlsbad near San Diego. Today Krakoff, in his 70s, is no longer active in the day-to-day operations, but Razer remains headquartered in Carlsbad. Another thing that Razer has going for it is its loyal base of gaming fans from Asia, Europe and America. "We have a cult brand. We are only one of the two consumer tech companies in the world where people tattoo the brand's logo on their bodies," says Tan, adding that the other brand is Apple. Coincidentally or not, Tan's daily get-up and his obsession for design have likened him to the late Steve Jobs by some. Fans have even built "shrines" of Razer products in their homes, and Tan even gets stopped on streets by fans, especially in the U.S. and Europe, wanting his autograph. Today Razer has 4 million followers on Facebook and hundreds of thousands on YouTube and China's Weibo. "All of this is organic," Tan says. "On my Facebook home page, I have almost 300,000 followers, and I talk to them constantly." Also behind the Razer brand is the company's strong focus on R&D and Tan's geeklike obsession for design. He has turned his own Singapore pad in a condo tower, where Facebook's Eduardo Saverin used to live, into his design studio. That's where he often tinkers with new product designs, if he's not checking in on his staff at his three design centers in San Francisco, Singapore and Taipei. "I work closely with the industrial designers on everything, not just the Nabu, be it for a poster in Poland, a retail rack in the U.S. or a giveaway something in Asia," he says. "It all has to be passed through me, I'm a bit of a control freak. "We sort of have an ivory tower of sorts, where the R&D folk or design guys operate, and then once we are done we will say 'This is it, go forth.' " Today, Tan says "more than half our head count are R&D staff." In comparison, sales and marketing staff represent a tenth of Razer's 500 employees, whose average age is 30. About half of Razer's employees are in Asia, with the rest in the U.S. and Europe. Tan also admits that he's "not very disciplined when it comes to R&D budget." Back in 2008, when Razer first launched the wireless Mamba mouse, Tan recalls the sales guys telling him: "Min, look we are not going to be able to sell any of this. The most we could probably do is sell 1,000 of this worldwide." At that time every other mouse was retailing at between $20 and $70. The Mamba hit the shelves at $130 apiece. "Today that mouse has sold a couple of millions in total and it's still being sold at Best Buy," he says. Early angel investor Koh Boon Hwee credits Razer's success to Tan's intensity. "Stylewise he is impatient, has a great sense of urgency and is a perfectionist in delivery," says Koh. In fact, his pursuit of perfection has meant that subpar work is not tolerated at Razer, where "shouting matches" during product development meetings aren't uncommon. Products have been pulled back hours before launch simply because they weren't perfect. To date the Nabu has "gone through about 100 iterations," Tan admits. "I don't fire somebody because their design sucks, but I've fired some who have no passion for the product. If they are not there to create the best possible product, then why exist? I've literally asked people, why do you even bother living?" says Tan. "The way I see it is that life is really, really short. You get very few opportunities to do what you want to do--even then, you gotta be blessed with some amount of luck, because hard work and smarts don't necessarily get you anywhere all the time. Here we have an incredible platform with a huge user base of people who are incredibly passionate about our products. It's our responsibility. I mean some of these guys have tattooed [the Razer logo on] themselves for life."
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https://www.forbes.com/sites/forbesasia/2014/03/06/number-of-women-in-senior-management-stagnant-at-24/
Number of Women In Senior Management Stagnant At 24%
Number of Women In Senior Management Stagnant At 24% The number of women in senior management shows no improvement in recent years, despite growing positive sentiment among businesses toward quotas and signs that legislation is moving in that direction in Europe at least. According to its 2014 annual survey, released March 7, Grant Thornton International Business Report says the proportion of women in senior roles is stuck at 24%, the same as 2013, 2009 and 2007 (the numbers fell in 2011 and 2012, when women were hard hit by the global economic crisis). Regionally, Eastern Europe and Southeast Asia lead the way on women in senior management, with 37% and 35%, respectfully. Russia has the highest proportion, at 43%, followed closely by Lithuania and Latvia, Georgia, Armenia and Poland. The report suggests this reflects the emphasis on equal opportunity in the former Soviet Union. Likewise, 38% of senior management roles in China are held by women, although the one-child policy and rapid urbanization may also play a role there, allowing more women to work outside the home. Indonesia, the Philippines and Thailand all have high numbers of women in senior roles (41%, 40% and 38%, respectively), helped by the tendency for families to live together or nearby, offering women free, built-in childcare. The report also says that the high number of family owned and run businesses in the region may be a factor. Developed countries have relatively fewer women in senior management. Across the Group of Seven industrialized nations, 21% of senior roles are held by women, compared with 32% in the BRIC economies, Brazil, Russia, India and  China. One reason may be the development of the nuclear family and the resulting lack of childcare, as well as lower aspirations among women in the West compared with developing economies where strong growth and cultural shifts are fueling female ambition. Japan comes in at the bottom of the 45-economy survey. Just 9% of senior roles are held by women, almost no change from a decade ago. Given the apparent lack of opportunity for women, the argument for quotas is gaining strength. The proportion of business leaders in favor rose to 45% in the latest survey, from 37% previously, helped by growing support in China, Europe and Latin America, in particular. Late last year the European parliament voted in favor of rules that would oblige companies to make 40% of directors women. The law still needs the approval of individual EU states. Other factors that might support women as they climb the corporate ladder are better childcare and mentoring. The survey says companies could be doing a lot more on both fronts with very few giving women the kind of childcare support they need, and only one in ten offering mentoring programs for women. The importance of education as the foundation for a successful career can’t be ignored. But while women are signing up for college in increasing numbers -- globally the ratio of women to men in tertiary education is 108 to 100 -- this doesn’t appear to be translating into better, or better-paid, jobs for women. One reason for this may be that women are not studying the subjects that are likely to lead to senior management positions. The Grant Thornton IBR survey is compiled from approximately 6,700  interviews with top decision makers at mid-sized businesses in 45 economies. The report does not cover companies in the public sector. The interviews were conducted between November 2013 and February 2014.
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https://www.forbes.com/sites/forbesasia/2015/01/08/pharma-tycoon-dilip-shanghvi-has-powered-indias-second-biggest-fortune/
Pharma Tycoon Dilip Shanghvi Has Powered India's Second-Biggest Fortune
Pharma Tycoon Dilip Shanghvi Has Powered India's Second-Biggest Fortune On weekends Dilip Shanghvi, 59, likes to drive out to the multiplex near his suburban Mumbai home and catch the latest Hollywood action films--just like any other guy. The hitch: He isn't any other guy. "It's getting to be a bit of a bother these days," acknowledges the soft-spoken, bespectacled founder of Sun Pharmaceutical Industries (market cap: $27 billion) who shuns public attention but can no longer avoid being recognized wherever he goes. A recent excursion with his family was to watch The Expendables 3, which is just his kind of movie, says Shanghvi. The pharma tycoon's taste for adventure has lately played out quite dramatically at Sun. With revenues touching $2.6 billion and 25 factories spread across four continents, Sun Pharma is India's most valuable pharma firm and features among the world's top five generics makers. Its scorching sales growth of 33% annually in the past decade has been fueled mainly by acquisitions, notably in the U.S., where it's now the largest Indian generics player. Back home Shanghvi made a big splash in April 2014 when he inked a $4 billion all-stock deal to acquire listed rival Ranbaxy Laboratories from Japan's Daiichi Sankyo. In December India's competition watchdog approved the deal, provided the merged outfit sells off seven drugs, in which it would have a monopoly, within the next six months. Credit: Vikas Khot / Forbes India All of this action has propelled Sun's stock--it's up 44% in the past year compared to the stock market's 30% rise over the same period--and lifted Shanghvi to the position of India's second-richest person, after Reliance Industries' Mukesh Ambani. With a recent net worth of $17.7 billion Shanghvi edged out steel baron Lakshmi Mittal who slipped for the first time to No. 3 on FORBES ASIA's October 2014 ranking of India's richest. For investors, though, Shanghvi's real achievement is the handsome 45% Ebitda (earnings before interest, tax, depreciation and amortization) margins that Sun Pharma has been notching up versus the 20% average of rivals. Unsurprisingly, while its peers are valued at between four to six times their revenues, Sun Pharma trades at close to ten times its sales. With its cash hoard of $1.3 billion, Sun is believed to be in the market for more acquisitions. For now Shanghvi has his work cut out. He acknowledges that Sun Pharma's heady momentum will force him to forgo more than just a low profile. In a break from the past he must let go and decentralize decision making. Today, he admits, much of his time is spent in creating what he calls "a capable and appropriate structure" for the fast expanding Sun. Until four years ago the company was run by a close-knit team that included his brother-in-law Sudhir Valia, and like most Indian entrepreneurs who tend to micromanage, Shanghvi called all the shots. "Everyone in the senior team spoke in Gujarati," recalls Abhay Gandhi, chief executive of the India business, who used to head sales and marketing. He jokes that Shanghvi probably hired him assuming that he was a fellow Gujarati--which he isn't. Shanghvi has since become less parochial, luring pharma veteran Kal Sundaram, a south Indian and the former head of GlaxoSmithKline, as chief executive in 2010. Other senior management hires followed. Sundaram, who has since moved on to head Sun's U.S.-listed subsidiary Taro Pharmaceuticals, says that "Dilip is training himself to let go, but the result is often three steps forward and one step back!" In 2012 Shanghvi made a significant move forward when, to everyone's surprise, he stepped down as Sun's chairman (he remains managing director), ceding the spot to Israel Makov, former president of generics giant Teva Pharmaceuticals. "Israel [Makov] is the big-picture, strategy guy, while I am far more familiar with the specifics of the pharmaceutical industry. We have complementary skills," explains Shanghvi. Analysts say that it was Makov, with his vast network of contacts and a global perspective of the pharma landscape, who led negotiations with Daiichi Sankyo for the Ranbaxy acquisition. Ranjit Shahani, managing director of Novartis India, calls Makov's appoint?ment "a masterstroke" by Shanghvi and expects the Israeli to spearhead more ambitious purchases by Sun in the future. Meantime, Makov says that he sees Sun's biggest challenge as "the ability to deal with complexity. To that end we're constantly training/upgrading managers and making systems more transparent." Though he remains managing director, Shanghvi has started delegating the running of Sun's day-to-day business to a core team of a dozen senior executives, including country heads, such as Sundaram and Gandhi. For instance, Shanghvi no longer attends every new product meeting as he used to earlier. (Sun launches nearly 25 to 30 new products every year.) Chief Financial Officer Uday Baldota says he hears a lot more of "Can you get this done?" as compared to the past, when his boss would sort out the problem himself. Shanghvi's interest in the world of medicine was sparked at a young age. The son of a pharmaceutical distributor in Kolkata, he would avidly read information leaflets about various drugs being distributed by the family firm. After getting an undergrad degree in commerce from the University of Calcutta, he moved to Mumbai at the age of 27. With the equivalent of $160 borrowed from his father, he set up Sun in 1983, at a time when multinational pharma firms were dominant in India. Sun started with five generic drugs including psychiatric drug Lithosun, which the company still makes. The first factory was set up in the western state of Gujarat soon thereafter, and he never looked back. For over two decades Sun Pharma grew at a brisk pace but largely by replicating its early success. Shangh?vi set up therapy-focused divisions (business units that concentrated on a single disease type--for example, cardiovascular or ophthalmic) so they could concentrate on sales to a particular set of doctors. As Sun Pharma expanded its relationships with doctors and began introducing new drugs, sales surged. Shanghvi’s brain trust. Top: Abhay Gandhi (CEO, India business), Kal Sundaram (CEO of Taro, Sun’s... [+] U.S.-listed subsidiary). Middle: Israel Makov (chairman), Dilip Shanghvi, Uday Baldota (CFO). Bottom: Kirti Ganorkar (senior vice president, business development). (Credit:Vikas Khot / Forbes India) Shanghvi built Sun with a single-minded focus on generic drugs for chronic diseases even though they constituted only 10% of the Indian market at the time. That contrarian bet has paid off; as lifestyle diseases grow in a rapidly urbanizing country, the share of chronic drugs has risen to close to a fourth of India's annual pharma sales of $12 billion. Sun has an edge with about 500 such brands in the market (Ranbaxy's portfolio of antibiotic drugs fills the gap in Sun's portfolio, says Gandhi). Even as the pace in India was picking up, Shanghvi latched on to the potential for expansion in the U.S. Starting with exports, Shanghvi upped the stakes when he bought Detroit-based generics maker Caraco Pharma in 1997. It took him about a decade to turn around the company though compliance problems lingered on. The plant ran afoul of the U.S. FDA in 2008, and he had to shut it down and work on fixing the problems. (He has since taken Caraco private.) Unfazed, he made another bet on NYSE-listed Taro Pharmaceuticals, taking control in 2010 after a bitter three-year battle with its key shareholders. It now accounts for nearly half of Sun Pharma's U.S. revenues of $1.6 billion. "His understanding of international businesses increased as he grappled with the problems of integration post-acquisition," says Anubhav Aggarwal, a pharma analyst at Credit Suisse who has tracked Sun closely. Shanghvi doesn't pretend he knows it all. Company insiders disclose that the boss, never one to lean on outsiders, has a newfound tolerance for consultancy firms. Shanghvi has hired McKinsey & Co. to advise Sun on key aspects of the merger with Ranbaxy, notably the people aspect. Sun Pharma and Ranbaxy employ 29,000 between them, and while layoffs are rumored, Shanghvi has said no one will be fired. When reminded of his former disdain for consultants, Shanghvi says, "The cost of making a mistake now is much higher than before. We are doing many of these things for the first time. If others have done it before, it is better to learn from them rather than make our own mistakes." A looming concern is the combine's ability to meet quality standards set by regulators--or what the pharma industry calls "compliance issues." Ranbaxy is riddled with quality problems that Daiichi struggled to resolve even after paying a $500 million fine in 2013 to U.S. authorities. A year ago the U.S. FDA banned exports from its factory in Punjab. This stricture followed similar restrictions imposed on its factories in Madhya Pradesh and Himachal Pradesh on charges of data fudging. Sun Pharma has also lately been facing some regulatory heat. Last March, in a blow to Sun's reputation, the FDA issued a similar import alert against it, banning exports from a Sun plant in Gujarat. A surprise inspection of another factory by the FDA in September resulted in a warning letter to Sun. In the past year the company has recalled six drugs from the U.S. over quality issues. Shanghvi says regulatory standards are changing globally but Indian companies have yet to recognize this. "We are still playing catch-up," he acknowledges grimly. He wants to create a zero-tolerance mechanism for noncompliance, and to this end Sun is working with consultants who are auditing and evaluating all factories and processes. Some analysts fear that the exercise of sorting out Ranbaxy's quality problems could prove to be a minefield for Sun. But Shanghvi is confident. "My understanding is that the issue was more of processes. There were no problems with the factories," he says. Not everyone is as sanguine. Stock market analyst SP Tulsian says the run-up in Sun Pharma's stock price since the Ranbaxy deal was announced is worrying. "It makes me uncomfortable," says Tulsian. "It seems unjustified unless Ranbaxy's operations are improved substantially." Such skepticism doesn't worry Shanghvi, who has 9 successful acquisitions in as many years under his belt and 16 in total since he started Sun. "If a company is not doing well, it doesn't necessarily mean that it is not a good company," he insists. Shanghvi has also been quietly grooming the next generation; both his children, son Aalok, 30, and daughter Vidhi, 25, work with him. Vidhi, a Wharton grad, is setting up a new venture for medical nutrition products, and dad is more than happy to back her: "I want them to appreciate the pain involved in building a business. They shouldn't take things for granted." Adapted from FORBES INDIA, a licensee of Forbes Media.
606e558ed6be36132b0b4851fc60cefc
https://www.forbes.com/sites/forbesasia/2015/07/22/the-khoo-familys-historic-goodwood-goldmine/
The Khoo Family's Historic Goodwood Goldmine
The Khoo Family's Historic Goodwood Goldmine By Jane A. Peterson In a city in a constant state of metamorphosis, Singapore’s five-star Goodwood Park Hotel is an anomaly, standing majestically on 15 acres of prime land just off bustling Orchard Road, the island nation’s epicenter for upmarket shopping. The Goodwood and its surrounding estate, which includes the four-star York Hotel, would command a stonking price on the market. Ku Swee-yong, CEO at property broker Century 21 Singapore, estimates its worth at more than $2 billion, though any potential buyer would have to retain the hotel’s grand tower facade, which was designated a national monument in 1989. Click here for more from this issue’s Singapore Richest A decade ago Singapore’s Raffles Hotel, another iconic landmark, was sold by the government as part of a $1.75 billion deal, only to end up in possession of Qatar’s sovereign wealth fund. Goodwood, at least, remains in local hands, owned by the low-profile Khoo clan, who say they have no desire to sell their family jewel nor any plan to realize its developmental potential. “It is my wish to see its legacy carried on through the years to come,” asserts Mavis Khoo-Oei, daughter of the late Singapore banking tycoon Khoo Teck Puat, who bought the hotel in 1968 from Maybank , which had acquired it five years earlier. It became the flagship of his Goodwood Group of Hotels, which today also includes the Royal Garden Hotel in London. Oei, 68, has been Goodwood’s chairman since 2004, approving all major decisions. She joined the hotel in 1965, when it was Maybank-owned, and was promoted to general manager 13 years later at age 32. Her brother, 5 filmmaker Eric Khoo, 50, runs his Zhao Wei Films from a ground floor office suite. Meanwhile, an imposing bust of their late father sits on a pedestal in the grand tower foyer, the first image guests see after ascending the hotel’s prominent red-carpeted staircase. Built in 1900 by the Teutonia Club for its German expat members, and converted by businessman Manasseh Meyer into a hotel in 1929, Goodwood Park bears a resemblance to Raffles Hotel with a distinctive colonial décor of white plasterwork foliage on a gray background. Both properties were designed by the renowned architect of the day, R.A.J. Bidwell of Swan and Maclaren. Along with the Fullerton Hotel, converted by the Ng family from a former post office building, the three are considered pioneer hotels of the city-state’s tourism industry. The Khoos have upgraded Goodwood Park ten times since 1968, with the last $8.5 million overhaul done in phases from 2004 to 2008. Ever popular with locals for the elaborate afternoon teas at its L’Espresso cafe, it still doesn’t command the high room rates of the plusher Raffles and Fullerton. Oei insists that she won’t shy away from investing in future upgrades to “keep the hotel relevant with the times, while still retaining the architectural integrity and old-world charm.”--Jane A. Peterson This story has been updated from the original that appears in the Forbes Asia August 2015 Issue.
5538ac5d5be968160163072086879db1
https://www.forbes.com/sites/forbesasia/2015/12/08/chinas-design-pundits/
China's Design Pundits
China's Design Pundits By: Jane Ho, Alix McNamara and Yue Wang While it’s difficult to define “China design” or “Chinese style” with a singular, all-encompassing definition, one thing’s for certain: Design in China has been rapidly evolving over the past five years. In honor of Forbes’ recent China Fashion & Design 30, which captures some of the best designers using Chinese influences in their work today, the roundup here introduces just a few influencers who are at the forefront of this movement—and are helping to bring wider visibility to new designers’ work. Angelica Cheung Editor-in-Chief, Vogue China As Vogue China’s editor-in-chief since its launch in 2005, Angelica Cheung has built the magazine to become one of Vogue’s largest editions, with a circulation of 1.2 million readers. Her publication has also organized shows and activities to support emerging Chinese designers, including an exchange program with the Council of Fashion Designers of America (CFDA). Some of the designers emerging from the program, including Uma Wang, have gone on to achieve commercial success, a development Cheung does not hesitate to take credit for: She calls them “Vogue graduates.” Daughter of a Chinese diplomat, Cheung graduated from Peking University with bachelor’s degrees in law, English language and literature. She started her career as a journalist in Hong Kong, working with English-language publications including Reuters, Marie Claire Hong Kong and Elle China before joining Vogue. To read a Q&A with Cheung, click here. Hung Huang Owner, Brand New China TV host, publisher of the fashion magazine iLook, and entrepreneur, Hung Huang is often referred to as “China’s Oprah.” Her influence in fashion is wide reaching. In addition to her media ventures, she boasts more than 10 million followers on Sina Weibo, China’s equivalent of Twitter, where she comments on everything from politics to fashion with her famously sharp wit. With her boutique, Brand New China, Hung hopes to offer affordable Chinese fashion to the country’s upper middle class. Housed in Beijing’s trendy Sanlitun Mall alongside Western labels including Alexander McQueen and Giorgio Armani, the store opened in 2010 and features clothing from designers such as He Yan, Zhang Da and Renli Su. Hung plans to keep prices low by managing the manufacturing. From a prominent Chinese family (her mother was once English teacher and interpreter to Chairman Mao Zedong), Hung spent her teen years in New York and attended Vassar College. She worked at the German industrial group Metallgesellschaft AG before venturing into media in the early 2000s. To Hung, Chinese design is not just about using traditional motifs, but modernizing them for contemporary living. “The whole thing about cultural heritage isn’t about using what’s old,” she says. “It is about modernizing it, making it fitting for today’s wear.” Timothy Parent Founder, Chinafashionbloggers.com If you want to find somebody who can talk about all things fashion for hours, and who knows the ins and outs of Shanghai’s local design scene to boot, it would be Timothy Parent. The founder of chinafashionbloggers.com, Parent, 29, has enjoyed a front-row seat to China’s fashion scene since 2009, when he landed his first job at Bund 18 in Shanghai. “It was literally the perfect job for me,” says Parent, who describes the store as “the only boutique in China at the time—or one of the very few.” Parent worked as a retail director, helping to promote the country’s first high-end Chinese designers in a store sharing building space with brands including Vertu, Patek Philippe and Cartier. As a Harvard student with a focus in East Asian studies, Parent first discovered his love for fashion while organizing a charity fashion show featuring Asian designers. He went on to write his thesis on clothing, fashion and style in China. “Fashion’s not an academic subject at Harvard,” Parent acknowledged. “My advisor kept telling me I would fail every time I saw him.” His completed thesis, however, more than passed—magna cum laude—and Parent landed his first job in Shanghai shortly afterwards. Since moving to Shanghai, Parent has started a blog aggregator that brings the viewpoints of 12 English-language bloggers under one umbrella, effectively capturing a diversity of viewpoints. “I wanted to get other people’s points of view, and the purpose of the website is to aggregate those different points of view, because my own is incredibly biased, and I know that,” Parent says. He can also be found snapping shots of Shanghai street style. “The industry is just the business side, but the people on the street are who I’m interested in,” Parent says. “I want to know about the grandma who just walked down the street in the supercool suit jacket.” He’s now compiling the results of six years of research—about 80,000 photographs—into a series of self-published books organized around themes. The first will be completed in early 2016. Timothy Parent, Founder, Chinafashionbloggers.com. Credit: Dalton Lai Zara Arshad Founder & Editor, Design China Since landing in China in 2008 as a recent college grad, Londoner Zara Arshad has played a crucial role in relating news and a well-informed understanding of China’s designers to Western journalists. From helping to organize the first citywide Beijing Design Week, in 2011, she went on to found the website Design China—a compilation of all things design, from fashion to furniture to architecture; she calls the site “a great excuse to go visit Chinese designers in their studios.” Arshad also worked with Stefen Chow, a Singaporean photographer, to orchestrate a series of networking events in 2012 that showcased speakers from Beijing’s creative industry. At the first event, the organizers envisioned “ 30 or 40 people showing up.” “It ended up being more,” Arshad says. “We actually couldn’t fit everybody in the space.” In 2013, Arshad returned to London to complete her master’s, but she continues to update her website, and travels to China and Southeast Asia frequently. “After four or five years of being in China, you do build quite extensive networks and contacts,” she says. “I find that stuff falls into my inbox all the time. So the information is continuously flowing, and I think that’s testament to how much is happening in the design field in China.” Zara Arshad, Founder & Editor, Design China. Leaf Greener Stylist & Creative Consultant Recipient of the Lycra Mover of Style award in 2014 and a BoF 500 People Shaping the Global Fashion Industry Award in 2013, stylist Leaf Greener has been adding luster to China’s fashion landscape—and to fall shows everywhere—with her industry know-how and distinctive street style. She also sat on the panel for this year’s LVMH competition, which identifies the country’s new design talent. A Beijing native, Greener studied fashion design at the Raffles Design Institute in Beijing. She joined Condé Nast China’s Self magazine in 2006, and started working for Elle China as senior fashion editor in 2008. Shortly afterwards, she initiated its annual editorial package on Chinese designers, a project she led for six years. Last year Greener left the magazine, going solo as a fashion stylist, consultant, filmmaker and art director. She now counsels designers such as Eshvi and Olivia Von Halle on branding and photography, and oversees a number of digital promotion projects for international brands, including Chanel, Furla and Lane Crawford. Today she has 98,000 followers on Instagram and 270,000 on Weibo, China’s equivalent of Twitter. Last year, Greener also launched a WeChat magazine. The topics: architecture, art, literature, and, of course, fashion. Leaf Greener, Stylist & Creative Consultant. Credit:Zeng Wu Charles Wang Co-founder, Dong Liang Along with co-founder and friend Nan Lang, Charles Wang is at the forefront of China’s boutique scene. One of the largest China-concept stores to date, Dong Liang opened in 2009 in a Beijing hutong, or alley, known for its mix of avant-garde designer shops; it has since moved to roomier quarters in the city’s central business district, where it showcases the work of about 20 Chinese designers, including Uma Wang, Zhang Da and He Yan. Patrons, Wang says, include actresses Faye Wong, Xun Zhou and Baihe Bai. A recipient of the British Council’s 2014 Young Creative Entrepreneur in China award, Wang dropped his career in finance in 2008 after seeing the opportunity to follow his interest in fashion—even though the fashion scene then was still relatively nascent. “Design in China was not a hot topic then, and to most people, Chinese designers were a mysterious group,” Wang says. “We wanted to showcase talented Chinese designers to make their voices stronger.” Since then, the store has expanded to five locations, including three in Shanghai, and has also showcased its designers at London Fashion Week. International collaborations are also a focus. This year, Dong Liang worked with Airbnb on a “Designers Home Project,” in which seven designers, including Uma Wang and Renli Su, documented their visits to Airbnb properties worldwide with Super 8 cameras, then collaborated in the design of three “homes” that take inspiration from their travels. Click here for more from China's Top 30 In Fashion & Design
4099c50ce6dcf5550630de3dcff14087
https://www.forbes.com/sites/forbesasia/2016/02/24/honestbees-joel-sng-sets-big-regional-goals-for-grocery-delivery-startup/
Honestbee's Joel Sng Sets Big Regional Goals for Grocery Delivery Startup
Honestbee's Joel Sng Sets Big Regional Goals for Grocery Delivery Startup Worker bee: “We are going to be the biggest online-grocery chain store in the next 18 months across... [+] Asia,” says CEO and cofounder Joel Sng. Credit: Munshi Ahmed By Jessica Tan As he picks up a basket at a suburban Singapore supermarket, the clock starts ticking on Henry Ho, an online-grocery concierge for the startup honestbee. In the next five minutes the 47-year-old former corporate trainer picks up two packs of baby diapers, one shower gel and talcum powder. He goes through checkout, assembling the items in a canvas carrier for drop-off at a customer's home nearby. Across the island and more recently Taipei, Hong Kong and even the snowy Hokkaido ski town of Niseko--a pilot for an imminent Tokyo rollout--eight-month-old honestbee has 1,200 others like Ho, plying supermarket aisles and bagging the goods. They are called bees, winging it to help the company fulfill one-hour deliveries. Honestbee's mobile app connects with supermarkets like FairPrice and Cold Storage in Singapore, and city'super and Marks & Spencer in Hong Kong. Typically there's a fee for smaller purchases, but honestbee draws mainly from the margins of its partner merchants. Before its first birthday the Silicon Valley-backed entity, which resembles the U.S. unicorn Instacart , will expand to Kuala Lumpur, Manila, Jakarta and Bangkok along with Tokyo. "We are going to be the biggest online-grocery chain store in the next 18 months across Asia--that's on target, that's on plan. And I am going to hit that," says honestbee CEO and cofounder, Joel Sng, 33, at his Singapore headquarters. The idea is not original, and the ambitions seem daunting even if honestbee should well exceed $50 million in sales for its first fiscal year. What's got the technology hive buzzing--more than the $15 million in outside funding it's raised--is Sng's circuit. The Harvard grad has early-stage investing scores and seems to be wired into pockets of tech wealth. He launched honestbee with Isaac Tay and Jonathan Low in July. The trio had worked briefly on a nonprofit bankrolled by Sng, offering a " LinkedIn for entry-level or part-time working folks." They have chosen congested territory for profit-seeking. In Singapore four-year-old rival Redmart has backers like Facebook cofounder Eduardo Saverin, Skype cofounder Toivo Annus and local gaming concern Garena, who have poured in $60 million. A key difference is that Redmart mostly holds its own inventory. Regionally, honestbee's closest peer is HappyFresh, an Indonesian startup that in September raised $12 million from investors that include Temasek Holdings and 500 Startups. It launched four months ahead of honestbee and also operates elsewhere in Southeast Asia. But Sng's outfit is exporting the concept fastest now to where he says consumers are "sophisticated enough" and "time starved." Cris Tran, a digital-transformation consultant at Frost & Sullivan in Malaysia's Johor Bahru, sees "no clear front-runner in the market right now, but if honestbee does it right and quick enough, and with enough funding, it may be possible for it to achieve its target." Analysts expect the online-grocery market in Southeast Asia to surge, despite cultural resistance to delegate fresh-goods shopping, and Tran says it could reach $20 billion by 2020. Honestbee's October funding round included YouTube cofounder Steve Chen, Pejman Mar Ventures and ex-Facebook CFO Gideon Yu and was led by the Formation Group. The latter is the vehicle of Brian Koo, grandson of South Korean tech giant LG's founder, after he parted ways with his cofounders at tech-focused fund Formation 8, best known for backing Oculus VR, later acquired by Facebook for $2 billion. Sng is an advisor at Formation Group. Taiwanese-born American investor Chen, based in Silicon Valley, says he doesn't typically invest outside of the U.S. but was impressed with the idea of an Instacart-like startup in Asia when it came up at a Formation dinner. He uses Instacart three times a week. He adds: "My wife also uses it--and I think that is always a good metric. ... It means that the service expands beyond just what engineers find compelling." Snow bees in ski town Niseko, Japan, a pilot for a Tokyo rollout. Credit: Ray Tan Plus, he's banking on Sng, who is also chairman of Sun Group Capital, a family-owned holding company, which has real estate and tech-related assets in China, the U.S. and Southeast Asia. "I would bet you anyone who created such a service would have succeeded, but they would need to have the connections on the ground, and that was the impact Joel had on me when he was describing what he wanted to do with it," says Chen. Data science also will be key to honestbee. During a tour of the office, which boasts a Razer gaming room (Sng is an angel investor of the homegrown gaming unicorn), as well as other tech-playful touches, Sng points to a pinned-up Singapore map. "We look at the density of the population, we look at ease of travel--some roads are easier to travel on--and we operate out of different hubs," he says. Also his team can identify hot neighborhoods based on demographics and projections. "Data for data's sake is useless, but what trends is it trying to show you? That is really the key thing." Most of honestbee's 150 staffers are in Singapore, and they form clusters in the open layout according to problem solving, often supported by one of five data scientists. (Sng says he sits wherever he is most needed.) "[Joel] knows that in the end the winner is going to be who has the best tech and smartest logistics--so data scientists, engineers ... we are always trying help them hire people from Silicon Valley," notes Formation Group's Koo, who met Sng five years ago through mutual friends. As a kid Koo lived in Singapore, where his father, later head of spinoff LS Group, was based. An asset-light model means honestbee has scalability as it broadens its geographic reach. But staff has to move fast. During the opening weeks a marketing campaign succeeded too well--400 orders within an hour. "We didn't realize how big the market was, and we got killed--basically orders went through the roof, and the entire company was transferred into customer services to handle that surge," recalls Sng. And some salesmanship is labor-intensive. Canvassing for grocer partners was "very painful," Sng admits. "A lot of traditional companies are very afraid of technology. They are very afraid of new ideas because they feel they will displace them." Which can happen: See Uber. "We just kept knocking on their doors," Sng says. "Our partners love us today because we are able to dramatically move the needle for them in terms of their sales," as well as share data. There's also the "share economy" of the bees out in the field. Starting honestbee appealed to him, he says, because it helps those looking to piece together work. When his own family's finances turned for the worse after his father, who used to own an ink-cartridge manufacturing business, suffered a stroke in 2006, he had to leave Harvard "because we didn't have any more money for the school fees." Back in Singapore Sng "cold-called and e-mailed hundreds of companies" to find an internship or a part-time job. He eventually found a gig with British investment house Rothschild. "The miracle of it all was that at the end of that year the guy who was heading up the office then gave me a bonus--and the bonus was good. And that was more than enough to cover the rest of my school fees for the year," he recalls. After graduating, Sng landed a banking gig in Hong Kong where he learned "all about how businesses tick." During that time he sorted out his family's finances and reinvested in real estate. In 2011 he returned to Singapore and began to look at tech investments--managing to clinch "tiny stakes" in companies like Airbnb, Uber, Palantir and Xiaomi when "friends of friends" were clubbing deals. He also got in on Facebook before its IPO. Not everyone can hop on a fast train, but in its way honestbee acts "to help make the world more equal," he maintains. A busy bee can make nearly $850 a week and move to staff. "We allow shifts of two hours, four hours--choose your time slots because your stay-at-home-moms may not be able to commit to eight hours, a grandmother may want to spend time with friends," he says. "Our mission has to be we make this a sustainable and profitable business that benefits every party we interact with."
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https://www.forbes.com/sites/forbesasia/2016/04/06/no-starchitects-here-veritas-rise-to-a-top-malaysian-architecture-firm/
No Starchitects Here: Veritas' Rise To A Top Malaysian Architecture Firm
No Starchitects Here: Veritas' Rise To A Top Malaysian Architecture Firm By Chen May Yee Malaysia's love affair with brand-name architects has reshaped Kuala Lumpur's skyline. America's César Pelli designed the dual corncobs of the Petronas Twin Towers. London-based Foster + Partners created the razor-edged Troika condominium and the jewel-cut Ilham Tower. Malaysia's Hijjas Kasturi created the bamboo-shoot-inspired Telekom Tower. Then there's Veritas. In an era of star architects, Veritas Design Group has bucked the trend locally and internationally by declining to define itself by any one architect or architectural style. Instead, the firm founded by Harvard-trained David Mizan Hashim has made a name over three decades as a stalwart of the Malaysian architecture scene, quietly scooping up commissions for everything from office towers and airport buildings to hospitals, train stations and private homes. It is now the country's second-largest architecture firm, with 330 staffers led by 14 architect principals; 5 of them head Veritas offices overseas. (The largest firm by staff size is GDP Architects, led by Kamil Merican.) The decision to promote the firm rather than an individual is a deliberate one, says Hashim, who started Veritas straight out of architecture school 28 years ago. "I purposely don't want all decisions to come from me," he says, wearing a yellow hard hat and construction boots and riding up the open elevator at the construction site of the 55-story W Hotel downtown, the firm's latest project. "My strategy is planned obsolescence." Stepping out of the elevator and treading carefully through the steel-and-concrete skeleton of the hotel, he pointed out the nontraditional placing of the lobby up on the 8th floor and the swimming pool on the 12th. He also noted the tricky engineering involved in building a ballroom--with no pillars--below that pool. "The city is getting so vertical," he says. Then, quietly, he adds: "People say this box shape is not iconic." Directly cross the street the Petronas Twin Towers gleamed, almost accusingly. "We don't agree with that. It will be quite extraordinary, with the external walls clad with metal and high-performance steel. The lighting will be embedded. It will look like a jewel." Veritas boasts two other skyscrapers rising in Kuala Lumpur's central business district: the Singapore-owned Oxley Towers, inspired by a traditional Malaysian weaving design, and the three-tower Star Residences. It's also designing five stations for the extension of the city's light-rail system. To mark the completion of a recent project--Glomac Damansara Towers--Hashim rappelled off both towers as an opening stunt. Hashim grew up in Kuala Lumpur and is a self-described former party boy. At 54 he still kind of looks the part--black pants and black shirt (with black cord necklace peeking through)--though he is married, with four school-age children. His Malaysian father was an oil and gas executive and his American mother, a homemaker. Young Hashim showed an early talent for art, but his father insisted he pursue "something professional." Once, while exploring the grounds of a teardown in the neighborhood, he spied a well-dressed man getting out of a nice car, rolls of paper clamped under his arm, and proceeding to give orders. Hashim's mother, hearing the description, told her son that he must have been the architect. "From that day on," he says, "that was what I wanted to be." With an engineering degree from the Massachusetts Institute of Technology and an architecture degree from Harvard, he came home for a visit in 1987. Malaysia was in a deep recession, and he had a job waiting in New York. But his father persuaded him to speak to a family friend in hopes of getting him to stay home. The friend, a property developer, told him it was the perfect time to start a business in Malaysia. After all, "Things can only get better." Improbably, he took the advice. His first office was in the Malay enclave of Kampung Baru, long a low-rent first stop for the children of Malay farmers moving to the big city. It was on the second floor, above a motorcycle-repair workshop. "Every time they tested the motorbikes," he says, "we had to stop our meeting." Being something of a man-about-town, he was pals with the managers of some of the city's hottest nightspots. Hashim took small jobs designing the interiors of these places, where today's corporate tycoons and head-scarfed matrons once danced the night away in a more permissive era. His first big project was Gasing Heights, one of the largest residential developments of the early to mid-1990s. It was situated in a southern suburb of Kuala Lumpur and included some 800 units. Veritas won it, he says, by "going all out, including the kitchen sink." The site was on a difficult slope, and Hashim--ever the engineer--proposed a method of cutting and filling the slope that didn't require too much earth to be carted away, saving money and minimizing the impact on the environment. Another big job was the Kuala Lumpur International Airport in Sepang, which opened in 1998. Veritas did not design the main terminal or the satellite terminal; Japanese architect Kisho Kurokawa submitted the winning design in a competition against British architects. But Veritas designed "everything else," says Hashim, from the cargo terminals to administrative and support buildings. The massive project taught Veritas how to scale up and gave it the experience to take on other large commissions. It also put Veritas in a league apart from smaller rivals. Malaysia has fewer than 2,500 architects but almost 1,200 registered architectural firms; more than 800 are sole proprietorships. Just a few years after he started Veritas it became known as a cool workplace that young architects aspired to join, and over the years it has added services such as quantity surveying, landscaping and project management. It now has offices in India, Vietnam, Australia, Saudi Arabia and the U.S. Hashim says the group generated $14 million in revenue and a $2.6 million profit last year. He owns 70% and says the only reason he hasn't taken it public is because of laws restricting professional practices in Malaysia--such as engineering, medical and architecture--that won't allow nonprofessionals to own a stake. "His marketing skill is one of his biggest strengths," says Saifuddin Ahmad, director at SNO Architects and a past president of the Malaysian Institute of Architects. "Like it or not, architecture is a business." In 2009 a large Malaysian developer, Symphony Life, invited a slate of international architects to submit a design for a mixed development on 4.5 acres of prime land in central Kuala Lumpur. They included some of architecture's biggest names from London to Singapore. But the designs submitted either proved to be too complex or otherwise impractical. Or they cost too much. "There's a saying, 'An architect's dream is often a developer's nightmare,' " says Azman Yahya, the developer's executive chairman. "Often an iconic building is nice to look at from the outside, but inside it is not so efficient. David can do iconic--it is attractive enough to look at, yet at the same time effective, efficient and [it] appeals to buyers." He ended up hiring Veritas to design the 1,440-unit Star Residences. "Why I like working with David is he really looks at it from a developer's perspective," he says. Not all Veritas projects are large scale. In 2009 Chee Sek Thim, a theater director and actor, asked Veritas partner Lillian Tay to convert a 19th-century shophouse in George Town, Penang into a nine-room guesthouse and arts venue. "It was a very small budget, almost pro bono," says Tay, who owns the other 30% of the group. But she was intrigued by the space. The result, Sinkeh, not only won a gold award last year from the Malaysian Institute of Architects in the "Alteration and Addition" category, but it also took the overall prize for 2015's Building of the Year, beating flashier flagship buildings in Kuala Lumpur. The breadth of Veritas' portfolio--big and small, government infrastructure as well as residential and commercial projects--is likely to provide a buffer when bad times hit, as many expect they will after a property boom now lasting more than a decade. "There's too much built over too long a time. Too much overhang," says Hashim. "If all your clients are developers, you're in trouble." As for Veritas, "I see dark clouds, but I do not envision we will be too badly damaged." He's already got his eye on a countercyclical growth area. In the next five years, he says, Veritas sees an opportunity in government-backed affordable housing: "The margin is less, but the volume is big, and demand is there."
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https://www.forbes.com/sites/forbesasia/2016/08/03/private-deals-ron-sim-seek-the-freedom-to-grow-osim-international/
Private Deals: Ron Sim Seeks The Freedom To Grow OSIM International
Private Deals: Ron Sim Seeks The Freedom To Grow OSIM International Ron Sim. Credit: Munshi Ahmed By Jane A. Peterson Ron Sim has been lying low since winning the right to take OSIM International private in May. The process started in early March with an initial offer of SG$1.32 per share, which he later increased to SG$1.39. But a group of shareholders felt shortchanged as the final offer was less than half OSIM's 2014 high of SG$2.90 per share. (Minority shareholders were forced to sell out once Sim had control of enough of the free float, as mandated by Singapore law.) The billionaire says he sought to privatize to give OSIM the freedom to grow. He no longer faces pressure from investors with regard to the company's financial performance, which hasn't been sterling lately. Net profits were halved in 2015 due to weak demand for its massage chairs, GNC nutritional supplements (OSIM has the franchise rights for parts of Asia) and TWG luxury tea, especially in its key China market. Analysts foresee a further drop in revenues and profits on lower margins from fewer stores as well as higher operating costs. "OSIM was in a no-win situation," says Maybank equity analyst Gregory Yap, who recommended in April that shareholders sell out. Yap insists that OSIM is better off in the private domain. "They need someone willing to go with the ups and downs of the business. And that can only be its founder," he says. Sim joins other Singapore rich listers who have delisted their firms in the past. In June Wee Kit Tang (No. 18) and his brother put their department store chain, C.K. Tang, which they had delisted in 2009, under their private Tang Holdings. This triggered a cash offer for the roughly 2% of remaining shares held by some 500 investors. In 2013 Simon Cheong delisted his high-end property firm SC Global, largely to escape hefty government penalties on the value of unsold property units that listed companies with foreign investors are required to pay. Given Singapore's declining stock market this is prime time for going private, say analysts. Among current candidates is logistics firm CWT, now in exclusive talks for a stake sale with Chinese conglomerate HNA Group. Its controlling shareholder, C&P Holdings, is owned by Loi Kai Meng (No. 47). The market is also watching Cheng Wai Keung's (No. 37) property firm Wing Tai and Chua Thian Poh's (No. 23) Ho Bee Land. --Jane A. Peterson Forbes Singapore Billionaire's Coverage Continues Here
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https://www.forbes.com/sites/forbesasia/2017/07/26/hong-kong-homecoming-sonia-cheng-opens-new-world-hotels-for-the-family-empire/
Next Tycoon: Hong Kong's Sonia Cheng Opens New World Hotels For The Family Empire
Next Tycoon: Hong Kong's Sonia Cheng Opens New World Hotels For The Family Empire “I like to be a little unconventional”: Rosewood CEO Sonia Cheng. Virgile Simon Bertrand for Forbes When it comes to luxury hotels, Hong Kongers can be a bit blasé. Most of the glitzy global brands are represented, and opulent new openings occur regularly. So the buzz over the arrival of a new brand that's more than a year away seems surprising. All the more so because the brand, Rosewood Hotels & Resorts, has little visibility in Asia, with just a single hotel in Beijing. Much of Asia may be unfamiliar with Rosewood, but Hong Kong is already enamored of the upscale hotel group. "I'm a total fan of Rosewood, and everybody in Hong Kong cannot wait to have our own," says Goodwin Gaw, a major hotel owner and investor. "Rosewood is like a Four Seasons for Millennials. It's really connected to young travelers, especially Asian." Hong Kong hotel-and-property company New World Development bought U.S.-based Rosewood in 2011, and in the third quarter of next year it expects to finally open the chain's first Hong Kong hotel. It knocked down the New World Centre on Salisbury Road in Tsim Sha Tsui overlooking the harbor and is putting up a 66-story tower with 398 hotel rooms and 199 long-term residences. New World is part of Chow Tai Fook Enterprises, founded by Cheng Yu-tung, who died last September just after his 91st birthday and left a roughly $15 billion fortune. He had come from China as a teenager and his rags-to-riches tale began with his transformation of a Macau gold shop into Chow Tai Fook, one of the world's largest jewelry chains. Unlike many Hong Kong tycoons whose family dynasties end up hobbled by succession disputes, he carefully plotted his own transition. Son Henry Cheng took over and groomed his four children, Adrian, Sonia, Brian and Christopher, to run the family businesses. Rosewood is the baby of 36-year-old Sonia, or rather, one of four babies. Hailed as a model Millennial, she's the chief executive and also a mother of three under the age of 5; her husband runs a restaurant company (see box, p. 18). Under her, Rosewood has become one of the world's fastest-growing luxury hotel brands. Among its prized properties are the historic Hôtel de Crillon, in Paris on the Place de la Concorde, which just reopened, and the Carlyle Hotel on Manhattan's Upper East Side. There are now 20 Rosewood hotels, but that number is set to double within a few years--in the pipeline are Guangzhou, Phuket, Phnom Penh and Hoi An, Vietnam, and a lavish tented villa encampment in Luang Prabang, Laos. In all, as the head of Rosewood Hotel Group, New World's hotel-management company, she oversees 57 hotels in 18 countries, under the Rosewood, New World and Pentahotel brands. New World owns many of these hotels, including the Rosewood Beijing and the Carlyle, and it will own the new Hong Kong hotel. Cheng took over New World's hotel-management business in 2008, while still in her 20s. She says her plan all along was to create a new luxury tier aimed at well-heeled New Age travelers, but the Rosewood deal provided an unexpected path. "They had a wealth of knowledge and experience, and what they did over the last 30 years was amazing," she says. "But it was not so well marketed. Only a small audience knew about it." Rosewood instantly catapulted New World into the top category of resorts. But merging two companies with different cultures, in Hong Kong and America, presented new challenges for this young CEO. "It was not easy at the beginning because you have to spend a lot of time reassuring the team members, showing what we want to do with the company, convincing them that this is a new chapter, [making sure] everyone is working toward one goal and one vision," she says. Gaw, the chairman of Gaw Capital in Hong Kong, calls it "a brilliant move to buy Rosewood. It didn't have a good strategy for growth. She's handled this transition perfectly." Indeed, revenue and profits are growing. Rosewood says its gross operating revenue last year grew by around 10% over 2015, while gross operating profits increased nearly 20%. It forecasts another 6.2% bump in revenue and a 14% rise in profits this year. Privately held, it declined to disclose actual revenue and net profit figures. It doesn't hurt to have a billionaire grandfather, but Cheng always aimed to earn her stripes. She worked at Warburg Pincus and Morgan Stanley in New York and Hong Kong doing real estate valuations after her education at St. Paul's Co-educational College in Hong Kong, boarding school in Connecticut and then Harvard. "I did a major in applied mathematics in economics. The reason I did that was no one else did it," she says, breaking into laughter while noting that many of her peers were majoring in economics or East Asian studies. "I like to be a little unconventional. I wanted something challenging, I didn't just want to go the easy route, and that's always been my life, always trying to find the challenging route." She's often tapped to speak at conferences on the interests of affluent young travelers, but confesses a shyness of the spotlight. "I speak at the conferences to help promote the brand," she says. "When people label me as this star or something, this young woman CEO, I don't enjoy it. I don't think I deserve it--yet." She's also in demand to speak at schools and universities about women in the workplace and other topics, which she finds a better fit. "That I enjoy, because I hope my experience can inspire a lot of young students." Much like Eloise, the girl who lived in New York's Plaza Hotel in a series of children's books and movies, Cheng was enchanted by hotels as a child. "My family was one of the first developers of luxury hotels in Hong Kong and in China," she says, "so I grew up surrounded by hotels." Indeed, she spent much of her childhood in hotels, including the Regent on the Tsim Sha Tsui waterfront, which is now the Intercontinental Hong Kong, and the New World Hotel across Salisbury Road, where the new Rosewood Hotel is being built. She recalls how she would have slumber parties in the hotels with her cousins. But running hotels is different from staying in them. "It was overwhelming at first, because I didn't have the standard Cornell University hotel degree or 20 years of hotel experience," she says. "I did a crash course. I literally went from department to department to try to understand how everything works. I learned a lot in a very short period." As she methodically spent two years visiting each hotel and talking to staff, she also mapped out her idea for a luxury brand appealing to travelers like herself. "The audience we are targeting is looking for a different experience," she says. "These are the affluent explorers, and they are looking for an adventure, a sense of surprise, of discovery. They don't want the expected anymore. We're delivering the unexpected." The acquisition of Rosewood was a fortuitous break. It had a rich history, but a limited reach. It was founded in 1979 by Caroline Rose Hunt, herself a rich daughter (of early U.S. oil tycoon H. L. Hunt). Her first hotel was Rosewood Mansion on Turtle Creek in Dallas. The luxury brand spread across the U.S. and the Caribbean, commanding a loyal following, but its growth had plateaued and it was exploring its options. Cheng wasn't looking to acquire a marquee brand, but one of the Rosewood owners the family knew suggested a meeting. Rosewood was never widely shopped around, and there was no bidding war. The deal was done quickly, and New World paid $225 million, a price some felt was inflated. Now many call it a bargain. "It was a great buy," says Bill Barnett, managing director of the Asia consultancy C9 Hotelworks. New World, he says, was positioned to unlock the value of Rosewood. "It was perfect timing." Chief operating officer Symon Bridle, who came to Rosewood after 18 years with Shangri-la, another heralded Hong Kong hotel company, says: "The challenge is creating a brand identity and getting it right at the beginning." He concedes that Rosewood's exact formula for luxury "is hard to explain" but credits Cheng for offering a fresh perspective. She wants her hotels to be hip destinations in each city; so she focused on creating lively lobbies and facilities rich in local color. "She didn't come to this with a lot of baggage. She knew hotels, grew up in them, but she really brought a young mind-set to this. We're prepared to do things differently." The payoff has been in both accolades and bookings. After opening in Beijing in 2014, Rosewood became not only the buzzy new place to bunk but also to be seen. "Sonia has a passion for hotels, and it shows," notes Gloria Chang, director of the Hong Kong office of Horwath HTL, an international hotel and tourism consultancy. "Rosewood really did a good job in Beijing. Everybody is looking forward to seeing Rosewood in Hong Kong." For more: Hong Kong: A Father and Son Chat With Henry and Adrian Cheng of New World Development For more: Sonia Cheng and Husband Paulo Pong Kin-Yee Share An Interest In Business
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https://www.forbes.com/sites/forbesasia/2018/03/07/indian-parliamentarians-business-born-of-war-reporting-puts-him-in-billionaires-club/
Indian Parliamentarian's Business Born of War Reporting Puts Him In Billionaires Club
Indian Parliamentarian's Business Born of War Reporting Puts Him In Billionaires Club “I’m a billionaire by accident”: Ravindra Kishore Sinha. Amti Verma/Forbes India As a teenager, one of India's new billionaires saw a sister die of a high fever because their father didn't have enough money for a doctor. Ravindra Kishore Sinha has come a long way since the mid 1960s of his native Patna city in the central Indian state of Bihar, one of the poorest in the country. Today Sinha, 67, wears various hats. He's the group chairman of Security and Intelligence Services (SIS), the company he got going in the 1980s and which went public last August. The business – the main source of his wealth – guards various industrial activity. It is run by his son Rituraj and Sinha now only shows for board meetings. Sinha is, instead, active in his other concerns – politics and media. He is a member of the ruling Bharatiya Janata Party (BJP) and the richest member of India's upper house of parliament. He's also the chairman of Hindustan Samachar, a news agency where he got his first job in the 1960s. “I'm a billionaire by accident,” said Sinha on a February day at SIS's head office, a nondescript building in an industrial part of the Indian capital. His office is large but sparse, save for a small temple in a wall alcove, filled with pictures of different Indian gods and a small black and white photo of his parents. Sinha does his prayers before sitting at his desk. The fifth of eight children of a government officer, he has been a lifelong member of the Rashtriya Swayamsevak Sangh (RSS), a right-wing Hindu nationalist organization, the ideological parent of the BJP. He got his first job – a reporting gig – at one of the group's meetups in 1967. Two years later he switched jobs and that set him on the indirect path to his wealth. It was September 1970 and the tensions between Pakistan and its eastern part (now Bangladesh) had flared up with calls for the latter's independence. Sinha's bosses sent him to report on the situation and he was collared by the Pakistani army, he says. He managed to escape and with the help of some locals made his way back to India a few days later. The war correspondent stint built connections in the Indian army and in an effort to help young retiring soldiers, he would connect them to companies looking to hire security guards. What started as a goodwill effort in 1974 set the foundation for SIS. By 1981 Sinha started charging clients. Until 2002 the company existed from one contract to next, many of them bad with payment defaults.  His son, who was working in London, joined.  “It was baptism by fire,” says Rituraj, 37. It took him a couple of years to clean it up  -- he even sold the car his father gifted him on finishing high school, a Mitsubishi Lancer, to settle some bills. But under Dad's gaze, he got things right and SIS has been on an expansion spree, broadening from security into more general facilities management with the help of overseas partners. It acquired an Australian unit in 2008 that to date has been supplying most of the guard revenues, working with the likes of big mining and port operators. The idea, says Rituraj, “was to consolidate our market share, gain access to new geography… or acquire capabilities in new industries.” But India's economic growth is creating more assets in need of protection. According to research firm Frost & Sullivan, security services business there last year was close to $9 billion and is expected to grow annually at 20% for the next three years.. “Before the first sack of cement arrives to build a road or a power plant, the construction company will hire guards and install cameras,” Rituraj says. “We've been expanding three times the GDP the last 15 years in India.” Last year SIS netted $17 million on revenues of $675 million, up from some $5 million in 2002 when Rituraj joined. It now employs 160,000 people—a few thousand of whom are still those, retired soldiers. In November Sinha senior and SIS were named in the Paradise Papers, a huge leak of financial documents that shone a light on the offshore finances of hundreds of politicians, companies and celebrities globally. According to the documents, SIS has subsidiaries in Malta with Sinha as a minority shareholder and his wife as a director. The news made a big splash in India as Sinha had not declared the Malta subsidiaries in his nomination papers to the upper house of parliament. Sinha says the subsidiaries were to execute its Australia buyout. “Everything is in black and white,” he says. “Now I'm getting millions in profits from that Australia business which I'm bringing to India and distributing to our Indian shareholders in dividend.” The company says it is fully compliant, with a clean chit from tax authorities. Sinha is seeking to invoke parliamentary privileges against defamation. Sinha says his main focus now, apart from politics and journalism, is charity. After both his kidneys failed a few years ago (one was replaced), his priorities, he said, are very clear. “I'm living on borrowed time,” he says. The World's Billionaires 2018 Related Stories: Meet The World's 259 Newest Billionaires
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https://www.forbes.com/sites/forbesasia/2018/07/25/vietnam-securities-pioneer-nguyen-duy-hung-keeps-an-eye-on-agriculture-opportunities/
Vietnam Securities Pioneer Nguyen Duy Hung Keeps An Eye On Agriculture Opportunities
Vietnam Securities Pioneer Nguyen Duy Hung Keeps An Eye On Agriculture Opportunities Saigon Securities Founder Nguyen Duy Hung. Maika Elan Nguyen Duy Hung founded and runs Saigon Securities (SSI), by market share and market value the biggest brokerage firm in Vietnam. He also has used M&A to build Pan Group, a holding company tapping into Vietnam's expanding agriculture businesses. Financial services, including banking, insurance, investment and stock brokerage, continue to grow fast in Vietnam from a low base. One of Vietnam's first three brokerages, SSI was founded in 1999 with $420,000 in registered capital. It now controls close to a fifth of its sector and last year reported nearly $130 million in revenues and $50 million net profit. Riding on the growth of the stock exchange of Vietnam, which has a total market capitalization near $150 billion, SSI added an asset-management firm, which hopes to invest some of its nearly $800 million in domestic startups. Nguyen, the eldest of four siblings, won a scholarship in 1980 to study in what was then East Germany. While there he turned his attention to trading goods between the two countries. One summer, he brought a dozen suitcases full of photographic paper back to Vietnam. The bulk of it didn't get through customs. Nguyen was disciplined and couldn't finish his overseas studies. No matter. With a local degree, he began connecting foreign direct investors through a business he called Pan Pacific and, when Vietnam's capital market opened up, set up SSI in 1999. But Nguyen, now 58, wasn't satisfied just being an investment middleman. Five years ago he started ramping up the remnant of Pan Pacific to create a circle in agriculture that he calls "Farm--Food--Family." Under the new name Pan Group, it raised nearly $100 million and took majority stakes in a dozen small and medium-size enterprises that either provide seeds or produce harvests. These range from rice to cashew nuts, seafood and flowers. More than 40% of Vietnam's workforce remains in agriculture. Most of the output comes from individual farmers rather than organized, sizable businesses. In the last few years, Vietnam has started seeing corporate investment. CP Group of Thailand has the biggest share in Vietnam's animal feed market. Vietnamese entrepreneurs see opportunities here, especially with government incentives in the form of favorable loan rates. But scaling up often requires acquiring precious land. Nguyen sees a chance to align small companies into a farm-business ecosystem. Revenues at Pan Group, which he also chairs, last year grew 47% to $177 million, and he says they can approach $400 million this year. "Vietnam, with 90 million people, is a big market. All of what we are doing is aimed at providing to the domestic market," he says. Neighboring China is also a potential market, but only if Vietnam can provide produce that is seasonally unavailable there. A priority for Pan in any case is a better distribution system. Meanwhile, back at SSI, his firm has advised and underwritten major deals in Vietnam recently, including the listing of Vincom Retail and Vinhomes from the local giant Vingroup. SSI also raised $230 million for steelmaker Hoa Phat Group, helped sell a state stake in Vinamilk and brought forward smaller IPOs. Hung's 15% stake in SSI and 25% in Pan Group put his net worth at $116 million. Unlike most tycoons in Vietnam, who would rather stay low-profile, Hung doesn't shy away from expressing his opinions publicly. He often posts on his personal Facebook page. Adapted from Forbes Vietnam, a licensee of Forbes Media.
9b27b1a929eb36ed0a3d35f8612b46ae
https://www.britannica.com/topic/American-Library-Association
American Library Association
American Library Association …the annual conference of the American Library Association along with the Newbery Medal for children’s literature. …library education accredited by the American Library Association (ALA; founded 1876). The American Library Association (ALA) pursued a policy of accreditation in an effort to ensure that library schools offering a professional qualification meet the standards established by the profession itself. The first British library school was established in University College, London, in 1919, and until 1946… …legislation, various groups, including the American Library Association, filed suit. A federal district court ruled that CIPA was “facially unconstitutional.” It held that public libraries’ Internet access was a public forum, and, as such, any limitations on content required “strict scrutiny.” Under that standard, speech restrictions must serve a compelling… …was instrumental in organizing the American Library Association in 1876 and in founding the Library Journal, which he edited for more than 50 years; he also edited or published the Annual Library Index, the American Catalog, and Publishers Weekly. As a champion of authors’ rights Bowker became a noted authority… …of the founders of the American Library Association. In 1883 he became librarian of Columbia College, New York City, and there set up the School of Library Economy, the first institution for training librarians in the United States. The school was moved to Albany, New York, as the State Library… …was a founder of the American Library Association and became its first president, serving until 1885 and again in 1897. Winsor also was a historian; he edited the Narrative and Critical History of America, 8 vol. (1884–89), and wrote several books.
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https://www.britannica.com/topic/American-Medical-Womens-Association
American Medical Women's Association
American Medical Women's Association American Medical Women’s Association (AMWA), formerly (1915–37) Medical Women’s National Association, professional and advocacy organization that serves as a vehicle for protecting the interests and advancing the careers of female physicians. The association is also committed to serving female medical students. It has a membership of some 10,000 and operates at the national, state, and local levels. What is now the American Medical Women’s Association (AMWA) was founded in Chicago as the Medical Women’s National Association by obstetrical surgeon Bertha Van Hoosen in 1915, when female physicians were far outnumbered by their male counterparts. In its earliest years, the association fought for broader representation of female physicians in all areas of the medical profession, including for the right to practice in the military medical corps during World War I. From that struggle emerged the American Women’s Hospital Service (AWHS), which, by the end of the war in 1918, had organized voluntary medical relief primarily in France and Greece, and then in many other countries in the following years. The AWHS continued to operate into the 21st century. Women were not able to gain admission into the military’s medical reserves until 1943. The AMWA also actively supported the passage of the Sheppard-Towner Act of 1921, which, until 1929, provided federally funded prenatal, maternal, and child health care. During the 1960s and ’70s the AMWA worked to increase the number of women who pursued careers in medicine and who would be accepted into American medical schools. Throughout its history and into the 21st century, the AMWA advocated for the interests of women in general and of female physicians in particular and has influenced legislation on issues of women’s health. In 2005, for instance, recognizing the importance of sex education in protecting young people from sexually transmitted diseases (STDs) and unwanted pregnancies, AMWA joined other advocates, including Planned Parenthood, the National Women’s Law Center, and the Guttmacher Institute (an organization dedicated to advancing sexual and reproductive health and rights) in calling for review of the abstinence-only curricula mandated in American schools under Republican leaders since Ronald Reagan at an annual cost of more than $100 million. Advocacy efforts also centred on health care coverage for all Americans, health care system reform, elder care, dependent care, Medicaid reform, and reproductive health. The organization worked to educate the public about issues relevant to women’s health, focusing on the health of menopausal women, for example, to shed greater light on the issue of hormone replacement therapy (HRT) when a 2004 study indicated that health providers and women were still confused about the advisability of using HRT, which had been linked to breast cancer. AMWA’s research interests included those issues that affect women differently than men as well as those that predominately affect females. Among the former, smoking prevention and cessation, alcoholism, osteoporosis, and heart disease were of greatest concern. Among the latter, major research areas included violence against women (see domestic violence), human sex trafficking (see human trafficking), gender equity, breast cancer, reproductive health, and cervical cancer prevention.
ff53f5c86e0698c7f17610cbbdc937cc
https://www.britannica.com/topic/American-Orthopaedic-Society-for-Sports-Medicine
American Orthopaedic Society for Sports Medicine
American Orthopaedic Society for Sports Medicine American Orthopaedic Society for Sports Medicine (AOSSM), U.S. medical organization established in 1972 and headquartered in Rosemont, Illinois. It had its origins in the American Academy of Orthopaedic Surgeons and its Committee on Sports Medicine, whose members saw a need for a forum in which orthopedic surgeons interested in sports medicine could hold meetings, exchange scientific information, and publish research and new ideas in the field. The AOSSM held its first annual meeting in 1973. Its membership consists of physicians and allied health professional who are active sports medicine practitioners, such as team physicians and presenters of scientific research at relevant meetings. The organization also works with health professionals such as physical therapists and trainers involved in the care and rehabilitation of patients with sports injuries. In addition to its annual meeting and its publications, the AOSSM engages in a number of related activities. It develops materials for patient education as well as clinical practice materials for orthopedists and other practitioners in sports medicine. Those materials cover such topics as concussion management, anterior cruciate ligament injuries, and the role and responsibilities of team physicians. The AOSSM provides continuing-education courses to its members as well and maintains an active research program. It provides financial support in the form of awards and grants, including the Young Investigators Grant program and awards for outstanding original research. The society’s outreach activities include its Traveling Fellowship Program, an annual international exchange with European and Pacific Rim countries that allows selected fellows to travel internationally to lecture on and observe orthopedic sports medicine care. The AOSSM also maintains partnerships with a variety of medical and sports-related organizations.
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https://www.britannica.com/topic/American-Pastoral-film
American Pastoral
American Pastoral …starred with Ewan McGregor in American Pastoral, an adaptation of the novel by Philip Roth. She then played the wife of a firefighter in Only the Brave (2017), which was inspired by the true events of the Granite Mountain Hotshots’ efforts to contain the Arizona wildfires during the summer of…
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https://www.britannica.com/topic/American-Pharoah
American Pharoah
American Pharoah American Pharoah, (foaled 2012), American racehorse (Thoroughbred) who in 2015 became the 12th winner of the American Triple Crown—by winning the Kentucky Derby, the Preakness Stakes, and the Belmont Stakes—an accomplishment that ended a 37-year drought since Affirmed captured that honour in 1978. American Pharoah was foaled on February 2, 2012, at Stockplace Farm in Lexington, Kentucky. He was sired by Pioneerof the Nile, who finished second in the 2009 Kentucky Derby. His dam was Littleprincessemma, a lightly raced mare who was sired by Yankee Gentleman. Her pedigree included such champions as Northern Dancer and Secretariat. When he was a yearling, American Pharoah was sent to the Fasig-Tipton Selected Yearling Sales auction in Saratoga Springs, New York. When he failed to receive any bids higher than the minimum sale price of $300,000, owner Ahmed Zayat of Zayat Stables decided to keep the colt himself. Encouraged by the positive observations of handlers who noticed the colt’s long stride, athleticism, and catlike movements that gave him a type of “swagger,” Zayat hired famed trainer Bob Baffert to mold him into a racehorse. American Pharoah’s notably misspelled name was chosen as the winning entry in Zayat Stables’ annual naming contest and submitted to the Jockey Club before the error in pharaoh was detected. American Pharoah made his racing debut on August 9, 2014, in Del Mar, California, where he ran poorly and finished an unimpressive fifth. Undaunted, Baffert sent him out again on September 3 to compete in the seven-furlong Del Mar Futurity. To better prepare the colt, several adjustments were made, such as removing his blinkers, placing cotton in his ears to ease his sensitivity to noise, and providing a new jockey, Victor Espinoza. Those changes proved to be a winning combination, as American Pharoah went to an early lead and galloped to victory, winning by 4 3/4 lengths. The colt also took early command of his next race, the FrontRunner Stakes at Santa Anita, California, edging out Calculator for a 3 1/4-length win. Despite being scratched from the Breeders’ Cup Juvenile because of a deep foot bruise, American Pharoah won the 2014 Eclipse Award for Champion Two-Year-Old Male. American Pharoah continued his dominance as a three-year-old at Oaklawn Park in Hot Springs, Arkansas. Despite stumbling a bit out of the gate when one of his shoes came loose, the colt recovered quickly and romped to an easy 6 1/4-length victory on a sloppy track. Buoyed by his success, Baffert had no reservations about entering the colt in the prestigious $1 million Arkansas Derby. Rather than go to the lead quickly, however, American Pharoah tracked just off the pace and cruised down the homestretch to win by eight lengths, ensuring him a starting position in the Kentucky Derby. American Pharoah entered the Kentucky Derby as the 5–2 favourite before a record crowd of 170,513. Although he wore No. 18, the colt started from the No. 17 post position, a spot from which no horse had ever won the Kentucky Derby. In the 20-horse field, American Pharoah broke well and cruised at a leisurely pace in third place down the backstretch. As the field entered the homestretch, Espinoza swung his colt to the outside and battled Firing Line to the finish, defeating him by a length and handing Baffert his first Derby win since 2002. Weather conditions proved challenging for the Preakness Stakes, which was beset by violent rainstorms that drenched the track before and during the race. Along with those unfavourable conditions, American Pharoah drew the difficult No. 1 post position along the rail—from which only two winners since 1960 had started—in a small, eight-horse field. After an awkward break from the post, Espinoza urged American Pharoah to the front of the pack immediately. The colt overpowered the competition, gliding over the sloppy track with ease, and won by seven lengths. An electrified crowd of 90,000 fans filled Belmont Park on June 6 to see American Pharoah attempt to make horse-racing history. In a field of eight, he was sent off as the 3–5 favourite from the No. 5 post position. When the gates flew open, the colt broke late, hesitating for just a moment before catapulting into the lead. American Pharoah dominated the race, staying ahead of the field and pulling away in the homestretch to win the Belmont Stakes by 5 1/2 lengths with a time of 2:26.65, the sixth fastest in Belmont history. After a two-month hiatus from racing, American Pharoah was entered in the Haskell Invitational at Monmouth Park in Oceanport, New Jersey, on August 2, which drew a record crowd of 60,983. He demonstrated his supremacy once again, with an easy victory of 2 1/4 lengths over six rivals who struggled to keep up with him. After completing his eighth straight win, American Pharoah finally met his match on August 29 in the Travers Stakes at Saratoga Springs, New York. Known as the “Graveyard of Champions” because of its notorious reputation for defeating iconic horses such as Affirmed, Gallant Fox, and Secretariat, the race claimed American Pharoah as its latest victim. Although he coasted comfortably down the backstretch in first place, he was challenged down the homestretch by Keen Ice, who engaged him in a fierce battle to the wire and defeated him by 3/4 of a length. On October 31 American Pharoah appeared in his final race, the $5 million Breeders’ Cup Classic at Keeneland Racetrack in Lexington, Kentucky. He went off as the sentimental 3–5 favourite before a crowd of 50,155 that stood 20-deep along the rail to cheer the colt on to victory. In a triumphant farewell, American Pharoah thundered out of the gate and dispatched his rivals by 6 1/2 lengths in a record-shattering time of 2:00.07 to become the first Triple Crown champion to also win the Breeders’ Cup. American Pharoah won 9 out of 11 starts and set a single-season earnings record of nearly $8.3 million. He was unanimously named 2015 Horse of the Year and won the 2015 Eclipse Award for Champion Three-Year-Old Male. He was retired to Coolmore America’s Ashford Stud farm in Versailles, Kentucky.
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https://www.britannica.com/topic/American-Quartet
American Quartet
American Quartet American Quartet, byname of String Quartet No. 12 in F Major, Op. 96, string quartet by Bohemian composer Antonín Dvořák. Written during the composer’s residency in the United States, it premiered on January 1, 1894, in Boston. Although he quotes no actual American melodies, in his American Quartet Dvořák set out to capture the spirit of American music in his work’s melodic flow and harmonic construction. It is the most frequently performed of Dvořák’s many chamber works. Dvořák, who was then serving as director of the National Conservatory of Music in New York City, wrote the American Quartet in Spillville, Iowa, where he spent one of his summer holidays. The vibrant Czech community of immigrants in Spillville provided a place where he could speak his native language and feel somewhat at home. Dvořák began the piece in early June 1893, only three days after his arrival in Iowa, and finished it before the month was out. The sonata-form first movement opens with violin trills and a lyrical viola solo, which soon reappears in the violin. At one time or another, each member of the ensemble is granted time in the spotlight. The two main melodies draw on pentatonic (five note per octave) scales, which are often found in American folk music, though they also are found in the music of other lands. The poignant second movement offers a tearful central theme, first heard in the first violin, though soon reappearing in the cello. The movement’s central section is more impassioned than its opening, though it closes gently, much as it had begun. For the third movement scherzo, Dvořák opted for light and danceable dotted rhythms, as reminiscent of his own Bohemian folk music as that of the United States. Here the usual contrasting theme of the central section is instead a slower, more-reflective treatment of the first scherzo theme. Dvořák’s final movement is lively and exuberant, especially for the first violin. For contrast, there is an almost hymnlike tune that appears midway through the movement. However, Dvořák brings the movement full circle with a resumption of the exuberant theme from its opening section, and the work concludes with energy.
2cfbe884f2ab6c8c4b63ffdb8284be59
https://www.britannica.com/topic/American-Turners
American Turners
American Turners …the organization now called the American Turners was founded. Similar organizations, called Sokols (see Sokol), formed in Bohemia (modern Czech Republic) in the 1860s, emphasized social and communal unity rather than nationalism.
e6a011725bcbfdec9aaca5e82193cb55
https://www.britannica.com/topic/American-Utopia
American Utopia
American Utopia …also that year he released American Utopia, on which he again partnered with Eno. The album inspired the Broadway production David Byrne’s American Utopia (2019– ), which also featured songs from Talking Heads. A film adaptation, directed by Spike Lee, aired on HBO in 2020.
9c6e1654424dd01d03926e4a90c3305d
https://www.britannica.com/topic/Americans-for-Prosperity-Foundation
Americans for Prosperity Foundation
Americans for Prosperity Foundation …Koch in 1977) and the Americans for Prosperity Foundation (originally Citizens for a Sound Economy, cofounded by David Koch in 1984)—generally favoured laissez-faire economic policies, significantly lower taxes, restrictions on the powers of unions, and the elimination or privatization of most public services and social welfare
6e62d9435c3377aa56e8f06de590ea78
https://www.britannica.com/topic/Americans-for-Tax-Reform
Americans for Tax Reform
Americans for Tax Reform …pledge—created by the special-interest group Americans for Tax Reform, headed by Grover Norquist—in which politicians promised to curb taxation, especially at the federal level. Enzi continued to take a strong interest in energy issues, and he led legislative efforts to open the Arctic National Wildlife Refuge and other public lands… …president of the lobbying organization Americans for Tax Reform (ATR), he built a coalition of interest groups that had a profound influence on Republican Party policy in the late 20th and early 21st centuries.
60810bf4d0621703910f47ebcb81096b
https://www.britannica.com/topic/Americans-with-Disabilities-Amendments-Act
Americans with Disabilities Amendments Act
Americans with Disabilities Amendments Act The ADA Amendments Act (ADAAA), which clarified and expanded several measures of the original law, was signed into law by Pres. George W. Bush in 2008 and went into effect at the beginning of 2009. The act rejected certain Supreme Court decisions that had altered the…
5b7e6f05b4e5b59604ede8520ab3b925
https://www.britannica.com/topic/AmeriCorps
AmeriCorps
AmeriCorps AmeriCorps, U.S. federal program that supports voluntary service in the areas of health, the environment, education, and public safety. It was created by the National and Community Service Trust Act of 1993, which also established the Corporation for National and Community Service, an independent federal agency designed to oversee and support domestic-service programs, including AmeriCorps. AmeriCorps is made up of three primary programs: (1) AmeriCorps VISTA (founded as Volunteers in Service to America in 1965 and incorporated into AmeriCorps in 1993), which assigns full-time AmeriCorps volunteers to work with community organizations and public agencies in various programs to alleviate poverty, including public-health and job-training programs, (2) AmeriCorps NCCC (National Civilian Community Corps, modeled on the Great Depression-era Civilian Conservation Corps), a full-time residential program in which volunteers living on several regional campuses work with various organizations and agencies on team-based service projects in their region, and (3) AmeriCorps State and National, which awards funding to service organizations and agencies to recruit, place, and supervise AmeriCorps participants. In September 1994 approximately 20,000 volunteers representing the first class of AmeriCorps were sworn in by Pres. Bill Clinton and began serving in more than 1,000 communities. In 1997 the introduction of the AmeriCorps Education Award—a postservice grant for educational expenses such as tuition and repaying student loans—helped to increase individual participation in AmeriCorps and enabled more organizations to benefit from the program. By the end of the first decade of the 21st century, AmeriCorps had grown to approximately 75,000 annual volunteers serving both rural and urban communities in all 50 states.
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https://www.britannica.com/topic/AmeriCorps-Education-Award
AmeriCorps Education Award
AmeriCorps Education Award …1997 the introduction of the AmeriCorps Education Award—a postservice grant for educational expenses such as tuition and repaying student loans—helped to increase individual participation in AmeriCorps and enabled more organizations to benefit from the program. By the end of the first decade of the 21st century, AmeriCorps had grown to…
ec8c4b595e2aac81f768ffdd02e2bbf1
https://www.britannica.com/topic/AmeriCorps-NCCC
AmeriCorps NCCC
AmeriCorps NCCC …public-health and job-training programs, (2) AmeriCorps NCCC (National Civilian Community Corps, modeled on the Great Depression-era Civilian Conservation Corps), a full-time residential program in which volunteers living on several regional campuses work with various organizations and agencies on team-based service projects in their region, and (3) AmeriCorps State and National,…
9178a3a1b60b063f6dcf45836670e58d
https://www.britannica.com/topic/AmeriCorps-State-and-National
AmeriCorps State and National
AmeriCorps State and National …in their region, and (3) AmeriCorps State and National, which awards funding to service organizations and agencies to recruit, place, and supervise AmeriCorps participants.
58a1336379836c04ceacb6698f374266
https://www.britannica.com/topic/AmeriKKKas-Most-Wanted
AmeriKKKa’s Most Wanted
AmeriKKKa’s Most Wanted His first solo album, AmeriKKKa’s Most Wanted, was released in 1990. A majority of the production was done by rap group Public Enemy’s production team, The Bomb Squad, while members from Ice Cube’s new crew, Da Lench Mob, made vocal appearances on the album. All told, the album was…
870571c231f06fcfa1153385f19189e2
https://www.britannica.com/topic/amesha-spenta
Amesha spenta
Amesha spenta Amesha spenta, (Avestan: “beneficent immortal”) Pahlavi amshaspend, in Zoroastrianism, any of the six divine beings or archangels created by Ahura Mazdā, the Wise Lord, to help govern creation. Three are male, three female. Ministers of his power against the evil spirit, Ahriman, they are depicted clustered about Ahura Mazdā on golden thrones attended by angels. They are the everlasting bestowers of good. They are worshipped separately and are said to descend to service on paths of light. Each has a special month, festival, and flower and presides over an element in the world order. In later Zoroastrianism each is opposed by a specific archfiend. Of the six, Asha Vahishta and Vohu Manah are by far the most important. Asha Vahishta (Avestan: Excellent Order, or Truth) is the lawful order of the cosmos according to which all things happen. He presides over fire, sacred to the Zoroastrians as the inner nature of reality. To the devotee he holds out the path of justice and spiritual knowledge. Vohu Manah (Avestan: Good Mind) is the spirit of divine wisdom, illumination, and love. He guided Zoroaster’s soul before the throne of heaven. He welcomes the souls of the blessed in paradise. Believers are enjoined to “bring down Vohu Manah in your lives on Earth” through profound love in marriage and toward one’s fellowman. He presides over domestic animals. Khshathra Vairya (Desirable Dominion), who presides over metal, is the power of Ahura Mazdā’s kingdom. The believer can realize this power in action guided by Excellent Order and Good Mind. Spenta Armaiti (Beneficent Devotion), the spirit of devotion and faith, guides and protects the believer. She presides over Earth. Haurvatāt (Wholeness or Perfection) and Ameretāt (Immortality) are often mentioned together as sisters. They preside over water and plants and may come to the believer as a reward for participation in the natures of the other amesha spentas.
354d842b85d2acf6f91c9a7faeaa780c
https://www.britannica.com/topic/Ami-des-hommes-ou-Traite-de-la-population
Ami des hommes, ou Traité de la population
Ami des hommes, ou Traité de la population In his popular Ami des hommes, ou Traité de la population (1756–58; “The Friend of Man, or Treatise on Population”), Mirabeau borrowed heavily from the ideas of Richard Cantillon, an earlier 18th-century British writer, in stressing the primacy of agriculture over commerce as a source of wealth. Mirabeau’s…
e368518a9c52e71d9986ecb4ba175f29
https://www.britannica.com/topic/Amish
Amish
Amish Amish, also called Amish Mennonite, member of a Christian group in North America, primarily the Old Order Amish Mennonite Church. The church originated in the late 17th century among followers of Jakob Ammann. Jakob Ammann (c. 1644–c. 1730) was a Mennonite leader whose controversial teachings caused a schism among his coreligionists in Switzerland, Alsace, and southern Germany. Ammann insisted that any excommunicated Mennonite church member should be shunned socially and that anyone who lied should be excommunicated. Following Jesus’ example, he introduced foot washing into the worship service and taught that church members should dress in a uniform manner, that beards should not be trimmed, and that it was wrong to attend services in a state church. Although Ammann sought reconciliation with the Mennonites, he continued to insist that all who had been excommunicated should be avoided, and therefore his attempts at reconciliation failed. Amish communities sprang up in Switzerland, Alsace, Germany, Russia, and Holland, but emigration to North America in the 19th and 20th centuries and assimilation with Mennonite groups gradually eliminated the Amish in Europe. The Amish began emigrating to North America early in the 18th century; they first settled in eastern Pennsylvania, where a large settlement remains. Schism and disruption occurred after 1850 because of tensions between the “new order” Amish, who accepted social change and technological innovation, and the “old order,” or traditional, Amish, who largely did not. During the next 50 years, about two-thirds of the Amish formed separate, small churches of their own or joined either the Mennonite Church or the General Conference Mennonite Church. Most traditional Amish are members of the Old Order Amish Mennonite Church. In the early 21st century there were about 250,000 Amish living in more than 200 Old Order Amish settlements in the United States and Canada; the largest were located in Pennsylvania, Ohio, Indiana, Iowa, Illinois, and Kansas, and others were found in Wisconsin, Maine, Missouri, and Minnesota. Their settlements are divided into church districts, autonomous congregations of about 75 baptized members. If the district becomes much larger, it is again divided, because members meet in each other’s homes. There are no church buildings. Each district has a bishop, two to four preachers, and an elder; but there are no general conferences, mission groups, or cooperative agencies. Humility, family, community, and separation from the world are the mainstays of the Amish. Everyday life and custom are governed by an unwritten code of behaviour called the Ordnung, and shunning (Meidung) remains an integral way in which the community deals with disobedient members. In formal religious doctrine, the Amish differ little from the Mennonites. Holy Communion is celebrated twice each year, and foot washing is practiced by both groups. Persons are baptized when they are admitted to formal membership in the church, about the age of 17 to 20 years. Religious services are conducted in High German, and Pennsylvania Dutch (see Pennsylvania German)—an admixture of High German, various German dialects, and English—is spoken at home and is common in daily discourse. The services are held on a rotating basis in family homes and barns. A large wagon, filled with benches for the service and dishes and food for the meal that follows, will often be pulled to the host’s property. In most Amish homes a special place is reserved alongside the Bible for the Martyr’s Mirror, a book chronicling Amish history and honouring the many Amish, Mennonite, and Anabaptist forebears who died for their faith. The Budget, established in 1890, is the national newspaper serving the many Amish and Mennonite communities; it is published in Sugarcreek, Ohio. The Amish are best known for their plain clothing, most of it self-made, and nonconformist lifestyle. Men and boys wear broad-brimmed black hats, dark-coloured suits, straight-cut coats without lapels, broadfall pants, suspenders, solid-coloured shirts, and black socks and shoes. Their shirts may fasten with conventional buttons, but their coats and vests fasten with hooks and eyes. Men grow beards after they marry but are forbidden to have mustaches. Old Order Amish women and girls wear bonnets, long full dresses with capes over the shoulders, shawls, and black shoes and stockings; their capes and aprons are fastened with straight pins or snaps. Amish women never cut their hair, which is worn in a bun, and they are not allowed to wear jewelry of any kind. The Amish attire, which is essentially that of 17th-century European peasants, reflects their reluctance to change, their respect for tradition, and their interpretation of biblical strictures against conforming to the ways of the world (e.g., Romans 12:2). The Old Order Amish shun personal home-based telephones but will occasionally use a communal one. They also eschew automobiles. They ride bicycles and drive horse-drawn buggies instead, though many of them will, on occasion and in emergencies, ride in cars, trains, and buses operated by others. Although the buggies are traditional boxlike vehicles, they are not always black, as commonly thought; some of them are white, gray, or even yellow, and many Amish and Mennonite groups can be distinguished by their chosen colour of buggy. The buggies may also be equipped with such modern conveniences as heaters, windshield wipers, and upholstered seats. The use of electricity, however, is strongly avoided, as it is a prime connection to the world that could lead to temptations and worldly amenities detrimental to the community and family life; occasional exceptions to this ban have involved Amish who must use electric flashers on their buggies in order to drive legally in their communities and certain farm equipment that could not be operated without a minimal amount of electricity and without which the community’s economic livelihood would be threatened; for example, certain milking equipment may be impossible to operate without some electricity, and electric fences may be deemed critical for keeping cattle. Bottle gas is often used to operate appliances, even barbecue grills, and gas-pressured lanterns and lamps might be used for indoor lighting. The New Order Amish permit the use of electricity, the owning of cars, and telephones in the home. The Amish are considered excellent farmers, growing and storing the majority of their food and purchasing in stores only staples such as flour and sugar. The Old Order Amish refuse to use most modern farm machinery, preferring the sweat of their brow over the ease of modern conveniences. What modern machinery they do use will often be operated not by electricity but by an alternative power source. The Amish are famous for their barn raisings. These cooperative efforts often involve hundreds of men, as well as scores of women who feed the workers. These custom-made barns are a constant reminder of Amish tradition, community, industry, and craft. The hex signs that often adorn the barns—the round geometric emblems painted to ward off evil—are synonymous with the agricultural communities of the “Pennsylvania Dutch.” The Amish typically accept the photographing of their way of life, but they forbid photos of themselves, believing such things are graven images in violation of the Second Commandment. For this same reason the dolls young Amish girls play with are traditionally faceless. Musical instruments are also forbidden by the Old Order Amish, as playing these, they believe, would be a “worldly” act contrary to the critical Gelassenheit: that spirit of humility, modesty, and informality that lies at the heart of the Amish way of life and which the Amish believe was exemplified by Jesus Christ; other Amish may play an instrument in private, such as the accordion or harmonica, but never in public. Singing, however, is important to Amish life, whether at work or at play, at home or in church. Selections from the Ausband (their hymnal) are commonly sung. Group singing is always in unison and never harmonized. Hymn singing is popular on Sunday evenings, especially among young Amish, and on these occasions a separate hymnal (with “faster tunes”), called the “thin book,” is used. Amish quilts, meticulously stitched by groups of Amish girls and women, are popular with tourists and highly praised by collectors. The quilting bees are a form of socialization and relaxation for Amish women, and the group effort reflects the Amish virtues of community and cooperation. The quilts can be intricate in design with colourful patterns but may not contain representational images, which are considered fancy and prideful. The selling of quilts, handmade crafts such as hex signs, and their famous baked goods such as friendship bread and shoofly pie is a common source of income for Amish families. The Amish recipes of Elizabeth Coblenz (died 2002) were syndicated in hundreds of newspapers, and her cookbooks are internationally famous. Amish children typically attend one-room schools run by the community, and they attend school only through the eighth grade; this eighth-grade limit in the United States was deemed acceptable by a 1972 Supreme Court ruling. Instruction is in English and concentrates on the basics of reading, writing, and math. Amish history and practical farming and homemaking skills are also taught. As in many of the separatist branches of Protestantism, convincing the children of believers to stay in the faith community can often be a challenge. If a young man joins a Mennonite church or other less exacting religion, the Amish will often say “he got his hair cut.” If a young person abandons the faith altogether, they say that person “went English.” The quiet, reserved manner that the Amish try to maintain does not prevent them from partaking of common pastimes and games. Volleyball and softball are popular with many Amish families, but they are played strictly for enjoyment and not in a spirit of competition. Flower gardens, if kept simple, are also permissible. Once the daily chores are finished and the children’s schoolwork completed, Amish families will often read or sing together in the evenings, before going to bed early in preparation for their next day’s chores. The Amish are not involved in state or national politics, and, as pacifists, they do not serve in the military. They also disavow social security and most types of insurance, often pooling their resources to help Amish families in need, but they will visit doctors, dentists, and opticians. As has often been said, the Amish are in the world but not really of it, as they try, in their simple and placid ways, to maintain the greatest possible separation from the rest of society.
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https://www.britannica.com/topic/Amma
Amma
Amma Amma, also called Amen, the supreme creator god in the religion of the Dogon people of West Africa. The notion of a creator god named Amma or Amen is not unique to the Dogon but can also be found in the religious traditions of other West African and North African groups. It may be reflected in the name Amazigb, which is applied collectively to the hunter cultural groups who preceded the 1st dynasty in ancient Egypt. Like other important Dogon cosmological keywords, the word amma carries with it more than one level of meaning in the Dogon language. From one perspective, it can refer to the god of the Dogon. But amma can also mean “to grasp, to hold firm, or to establish.” Among the Dogon, Amma is thought of as the god who holds the world firmly in both hands; to speak the name of Amma is to entreat Amma to continue to hold it. Although commonly referred to as male, Amma is considered to symbolize both male and female principles and, as a result, is more properly characterized as genderless or as being of dual gender. This dual aspect of Amma’s character is consistent with the broader cosmological principles of duality and the pairing of opposites that are expressed symbolically in all facets of Dogon religion and culture. It is also consistent with the male and female aspects of biological reproduction that Amma symbolizes. The Dogon religion is characterized as an esoteric tradition, one that involves both public and private aspects. Although Amma could be said to embody great creative potential, he is in fact considered by the knowledgeable Dogon priests to be small—so small as to be effectively hidden from view—although this detail of Amma’s character is generally not spoken of in public among the Dogon. This perceived smallness of Amma is consonant with the instrumental role that he is said to play in the mythological processes of the formation of matter and of biological reproduction. Perhaps the first important creation of the Dogon god Amma was the unformed universe, a body that is said to have held all of the potential seeds or signs of future existence. The Dogon refer to this body as Amma’s Egg and characterize it as a conical, somewhat quadrangular structure with a rounded point and as filled with unrealized potentiality; its corners prefigure the four future cardinal points of the universe to come. According to Dogon myth, some undefined impulse caused this egg to open, allowing it to release a whirlwind that spun silently and scattered its contents in all directions, ultimately forming all of the spiraling galaxies of stars and planets. The Dogon compare these bodies to pellets of clay flung out into space. It was by a somewhat more complicated process that the Sun and the Moon were formed, one that the Dogon equate with the art of pottery. Consequently, the Dogon priests compare the Sun to a pot of clay that has been raised to a high heat. Amma is also credited by the Dogon with having created life on Earth. According to the Dogon myths, there is a principle of twin births in the universe. However, it is said that Amma’s first attempt at intercourse with Earth failed, ultimately producing only a single creature—the jackal. This failure is seen by the Dogon as a breach of order in the universe, and the jackal therefore came to be associated with the concepts of disorder and the difficulties of Amma. Later, having overcome the difficulty, Amma’s divine seed successfully entered and fertilized the womb of Earth and eventually produced the primordial divine twins, the Nommo.
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https://www.britannica.com/topic/Amnesia-by-Carey
Amnesia
Amnesia Amnesia (2015) uses cybercrime as the lens through which to view the battle of Brisbane, a 1942 encounter between U.S. soldiers and Australian military personnel and civilians. In A Long Way from Home (2017), Carey used a road race in 1950s Australia to explore racism.
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https://www.britannica.com/topic/amnesty
Amnesty
Amnesty Amnesty, in criminal law, sovereign act of oblivion or forgetfulness (from Greek amnēsia) for past acts, granted by a government to persons who have been guilty of crimes. It is often conditional upon their return to obedience and duty within a prescribed period. Amnesty is granted usually for political crimes against the state, such as treason, sedition, or rebellion. It is addressed generally to classes or communities and takes the form of a legislative act or other constitutional or statutory act of the supreme power of the state. Thus, in 1865 U.S. Pres. Andrew Johnson issued a proclamation granting full pardon to all former Confederates (except certain leaders) who would take an unqualified oath of allegiance to the United States. Technically, however, an amnesty differs from a general pardon in that the latter simply relieves from punishment whereas the former declares innocence or abolishes the crime.
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Amon
Amon Amon, also spelled Amun, Amen, or Ammon, Egyptian deity who was revered as king of the gods. Amon may have been originally one of the eight deities of the Hermopolite creation myth; his cult reached Thebes, where he became the patron of the pharaohs by the reign of Mentuhotep I (2008–1957 bce). At that date he was already identified with the sun god Re of Heliopolis and, as Amon-Re, was received as a national god. Represented in human form, sometimes with a ram’s head, or as a ram, Amon-Re was worshipped as part of the Theban triad, which included a goddess, Mut, and a youthful god, Khons. His temple at Karnak was among the largest and wealthiest in the land from the New Kingdom (1539–c. 1075 bce) onward. Local forms of Amon were also worshipped at the Temple of Luxor on the east bank of Thebes and at Madīnat Habu (Medinet Habu) on the west bank. Amon’s name meant the Hidden One, and his image was painted blue to denote invisibility. This attribute of invisibility led to a popular belief during the New Kingdom in the knowledge and impartiality of Amon, making him a god for those who felt oppressed. Amon’s influence was, in addition, closely linked to the political well-being of Egypt. During the Hyksos domination (c. 1630–c. 1523 bce), the princes of Thebes sustained his worship. Following the Theban victory over the Hyksos and the creation of an empire, Amon’s stature and the wealth of his temples grew. In the late 18th dynasty Akhenaton (Amenhotep IV) directed his religious reform against the traditional cult of Amon, but he was unable to convert people from their belief in Amon and the other gods, and, under Tutankhamen, Ay, and Horemheb (1332–1292 bce), Amon was gradually restored as the god of the empire and patron of the pharaoh. In the New Kingdom, religious speculation among Amon’s priests led to the concept of Amon as part of a triad (with Ptah and Re) or as a single god of whom all the other gods, even Ptah and Re, were manifestations. Under the sacerdotal state ruled by the priests of Amon at Thebes (c. 1075–c. 950 bce), Amon evolved into a universal god who intervened through oracles in many affairs of state. The succeeding 22nd and 23rd dynasties, the invasion of Egypt by Assyria (671–c. 663 bce), and the sack of Thebes (c. 663 bce) did not reduce the stature of the cult, which had acquired a second main centre at Tanis in the Nile River delta. Moreover, the worship of Amon had become established among the inhabitants of Kush in the Sudan, who were accepted by Egyptian worshippers of Amon when they invaded Egypt and ruled as the 25th dynasty (715–664 bce). From this period onward, resistance to foreign occupation of Egypt was strongest in Thebes. Amon’s cult spread to the oases, especially Siwa in Egypt’s western desert, where Amon was linked with Jupiter. Alexander the Great won acceptance as pharaoh by consulting the oracle at Siwa, and he also rebuilt the sanctuary of Amon’s temple at Luxor. The early Ptolemaic rulers contained Egyptian nationalism by supporting the temples, but, starting with Ptolemy IV Philopator in 207 bce, nationalistic rebellions in Upper Egypt erupted. During the revolt of 88–85 bce, Ptolemy IX Soter II sacked Thebes, dealing Amon’s cult a severe blow. In 27 bce a strong earthquake devastated the Theban temples, while in the Greco-Roman world the cult of Isis and Osiris gradually displaced that of Amon.
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Amphictyony
Amphictyony Amphictyony, also spelled amphictiony (from Greek amphiktyones, “dwellers around”), in ancient Greece, association of neighbouring states formed around a religious centre. The most important was the Amphictyonic League (Delphic Amphictyony). Originally composed of 12 tribes dwelling around Thermopylae, the league was centred first on the shrine of Demeter and later became associated with the Temple of Apollo at Delphi. Member states sent two kinds of deputies (pylagorai and hieromnēmones) to a council (pylaia) that met twice a year and administered the temporal affairs of the shrines and their properties, supervised the treasury, and conducted the Pythian Games. In the 4th century bc the league rebuilt the Delphic temple. Although primarily religious, the league exercised a political influence through its membership oath, forbidding destruction of member cities or the cutting off of water supplies; the hieromnēmones could punish offenders and even proclaim a sacred war against them. Other important amphictyonies were the Delian and, in the Archaic period, the Calaurian (composed of states around the Saronic Gulf).
055744d1318d8c8b33efaac32ba4a6b4
https://www.britannica.com/topic/Amsterdam-by-McEwan
Amsterdam
Amsterdam The novel Amsterdam (1998), a social satire influenced by the early works of Evelyn Waugh, won the Booker Prize in 1998. Atonement (2001; film 2007) traces over six decades the consequences of a lie told in the 1930s.
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https://www.britannica.com/topic/Amulius
Amulius
Amulius …deposed by his younger brother Amulius, who forced Rhea to become one of the Vestal Virgins (and thereby vow chastity) in order to prevent her from giving birth to potential claimants to the throne. Nevertheless, Rhea bore the twins Romulus and Remus, fathered by the war god Mars. Amulius ordered…
0e4e0e4fdbcccb23df7fc0339037d97e
https://www.britannica.com/topic/Amy-film
Amy
Amy The 2015 film Amy chronicled her career through the use of documentary footage and interviews with her colleagues and intimates. It won an Academy Award for best documentary.
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https://www.britannica.com/topic/An-Account-of-My-Hut
An Account of My Hut
An Account of My Hut An Account of My Hut, poetic diary by Kamo Chōmei, written in Japanese in 1212 as Hōjōki. It is admired as a classic literary and philosophical work. An Account of My Hut (the title is sometimes translated as The Ten Foot Square Hut) relates the musings of a Buddhist who renounces the world to live a life of meditation and refined solitude in a small mountain hut. The work reflects the author’s belief in the transience of life and includes brief regrets on the fickleness of the world as well as descriptions of natural disasters and the late 12th-century internecine conflicts between the Minamoto and Taira families. Reflecting the Buddhist teaching that the pain of life can be transcended by desiring nothing, the work describes the author’s retreat to increasingly smaller living quarters. Even then he realizes that his love for his tiny hut compromises his renunciation of material things.
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https://www.britannica.com/topic/An-Account-of-Reason-and-Faith-in-Relation-to-the-Mysteries-of-Christianity
An Account of Reason and Faith in Relation to the Mysteries of Christianity
An Account of Reason and Faith in Relation to the Mysteries of Christianity Norris’ An Account of Reason and Faith in Relation to the Mysteries of Christianity (1697) was one of the best contemporary responses to Christianity Not Mysterious, by the English deist John Toland. Norris’ most significant work, An Essay Towards the Theory of the Ideal or Intelligible…
5977a7a1db43bef322e066b3ff83092d
https://www.britannica.com/topic/An-Alarum-Against-Usurers
An Alarum Against Usurers
An Alarum Against Usurers His next work, An Alarum Against Usurers (1584), exposed the ways in which moneylenders lured young heirs into extravagance and debt. He then engaged in varied literary activity for a number of years.
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https://www.britannica.com/topic/An-Allegory-of-Prudence
An Allegory of Prudence
An Allegory of Prudence …the Triple Portrait Mask, or An Allegory of Prudence, in which Titian, gray-bearded and wearing a rose-coloured cap, represents old age, his son Orazio represents maturity, and presumably Marco Vecellio stands for youth.
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https://www.britannica.com/topic/An-Alpine-Symphony-Op-64
An Alpine Symphony, Op. 64
An Alpine Symphony, Op. 64 An Alpine Symphony, Op. 64, German Eine Alpensinfonie, symphonic poem by German composer Richard Strauss that musically re-creates a day’s mountain climb in the Bavarian Alps. It premiered on October 28, 1915. At the time he composed this piece, Strauss was living in the southern Bavarian town of Garmisch (now Garmisch-Partenkirchen), at the foot of Germany’s highest peak, the Zugspitze. As a young teenager, he and a group of friends had set out before dawn to climb a mountain, reached the summit five hours later, and been driven back down the mountain by a tremendous thunderstorm. Strauss recounted the experience in a letter, noting that, once he was near a piano, he had improvised a musical version of the experience. For his mature work, Strauss designated an ensemble of well more than 100 performers, including an abundance of brass and percussion, as well as such instruments as organ, wind machine, celesta, and two sets of timpani. Although Strauss called his work a symphony, it bears none of the characteristics of that form. Instead of the standard four movements, An Alpine Symphony is written in one uninterrupted flow of music (roughly 45 minutes in performance length), portraying distinct episodes on the climb. It begins in the hours before sunrise, which are painted in dark and sombre tones. After the brassy emergence of the Sun, the climbers set forth to a rhythmic, rising theme; phrases of this theme recur throughout the work. Horns and clarinets, perhaps representing hunters and birds, carry them into the forest, where they pass by a brook and a waterfall. The mists rising from that cascade conjure up images of Alpine fairies. Leaving the forest, the climbers ascend to a sunny flower-filled Alpine meadow and then to a mountain pasture, where shepherds call to one another. The clangor of cowbells is heard. The adventure takes an ominous turn when the climbers become lost in a thicket and then must traverse a glacier and a perilous precipice before they reach the summit. Here a grand trombone fanfare and rich orchestral passages create the effect of a glorious panorama revealed. But clouds cover the Sun, and darkness and turmoil prevail as a tremendous thunderstorm breaks overhead. The adventurers scramble down the mountain, their descent represented by falling intervals, an inversion of the rising theme heard during the ascent. Each of the previous sights—the glacier, the pasture, the waterfall—passes by in reverse order as the climbers hasten down the slopes. By the time they arrive at the mountain’s base, the Sun is setting. The storm has passed, night has come, and they are enfolded in the darkness. Musically and dramatically, Strauss brings the listener full circle.
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An American Place
An American Place …from 1925 to 1929, and An American Place, from 1929 until his death in 1946. These small galleries were dedicated almost exclusively to the exhibition of the American Modernist artists in whom Stieglitz believed most deeply: Demuth, Arthur G. Dove, Hartley, John Marin, and O’Keeffe. (To a lesser extent, he…
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An Elegy Written in a Country Church Yard
An Elegy Written in a Country Church Yard An Elegy Written in a Country Church Yard, meditative poem written in iambic pentameter quatrains by Thomas Gray, published in 1751. A meditation on unused human potential, the conditions of country life, and mortality, An Elegy Written in a Country Church Yard is one of the best-known elegies in the language. It exhibits the gentle melancholy that is characteristic of the English poets of the graveyard school of the 1740s and ’50s. The poem contains some of the best-known lines of English literature, notably “Full many a flower is born to blush unseen” and “Far from the madding Crowd’s ignoble Strife.” The elegy opens with the narrator musing in a graveyard at close of day; he speculates about the obscure lives of the villagers who lie buried and suggests that they may have been full of rich promise that was ultimately stunted by poverty or ignorance. The churchyard in the poem is believed to be that of Stoke Poges, Buckinghamshire, which Gray visited often and where he now lies buried.
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An Englishman in New York
An Englishman in New York …Crisp in the TV movie An Englishman in New York (2009). His subsequent credits included the television miniseries Labyrinth (2012); Jim Jarmusch’s Only Lovers Left Alive (2013), in which he played a vampiric Christopher Marlowe; and the dark sci-fi thriller Snowpiercer (2013). Hurt also starred as an incarnation of the…