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Idea Foundry • Business Creation and Entrepreneur Acceleration

Innovation is the core of economic transformation and growth throughout world history. As Vietnam transitions from a manufacturing based economy to more of a technology and innovation based economy, and with more private enterprises emerging, it is calling for knowledge and expertise in entrepreneurship and innovation. Based on our research, we notice that Vietnamese government developed the Socio-Economic Development Strategy (SEDS) 2011-2020, which focuses on establishing a strong foundation for a modern, industrialized society by 2020. Read more

The New CEO: What it Takes in Today’s World

Jul 23, 2012 Wanted: A chief executive officer who is financially astute and digital tech-savvy with strong leadership skills, vision, execution, and international experience.

According to management psychologists, executive recruiters and consultants, ceo’s need to be as well versed in the profit and loss and balance sheet as they are in merchandising, marketing, Facebook, Twitter, Pinterest and mobile technology. As a result, it has become increasingly difficult to find top talent that not only has the vision, leadership, execution and interpersonal skills but also the technological, supply chain logistics and international know-how to successfully lead a global organization.

So what does the face of the new ceo look like?

“The onslaught of online is changing the kind of business strategy and leadership profile that flows from that in terms of people ready for the future.” He recently conducted research that concluded the major challenge for ceo’s and their boards is figuring out the leadership requirements of the future, as their companies and sectors are changing so quickly and so dramatically.

In the Sixties, a lot of work with automobile executives. “We used to describe them as ‘high speed, low torque.’ When the road was straight and flat and not particularly winding, they were great executives. When the road started turning with big bends, they were out of their element,” he said. “That’s what’s happening in many industry sectors because the world is changing so rapidly. You’ve got different forms of competition. At retail, you’ve got online and changing consumer buying patterns. The kind of leadership — intellectual agility, being able to think and formulate strategy beyond one’s experience, being able to shape a company and culture that thinks and acts in a more agile way — is going to be the difference between ceo’s who make it and those that don’t. Finding someone who merely has a great track record within an existing industry sector, such as retail, could have a lot of potholes in it.”

There’s no question an understanding of digital technology is having an impact on the type of ceo being sought. According to a recent Ad Age study, the U.S.’ largest advertisers, namely Procter & Gamble Co., Unilever and L’Oréal, devote 10 percent of their ad budgets to digital.

Source: Advertising Age: The Top 100 Advertisers

“It’s a digital tsunami,” said Hal Reiter, chairman and ceo of Herbert Mines Associates. “You need to get a guy who’s managed it or is open to it and is ­progressive-thinking. You can’t get anyone over 40 who grew up in it. They simply don’t exist.”

Reiter also said having international experience is important, but that’s an expertise that can be brought in from the outside.

“I can’t tell you how many board searches I’m working on today where they all want that digital . From a digital perspective, the age of the active ceo’s or the top people in the organization are much younger than the board. It was hard for boards to get used to having these young, aggressive people on their boards. But that’s who this business is made up of. They’re a younger group of executives. These are people who are going on boards and being considered for ceo roles. There’s a huge shift going on.”

“The biggest difference I’ve seen is what I would describe as the amalgamation of the ceo and chief operating officer roles. Historically, the ceo has been charged with charting the course and providing the vision. In many companies, the chief operating officer was charged with bringing that vision to life and executing ,” Charron said. “Today, that vision without execution and execution without vision is a lose-lose. There’s much less margin for error. Boards are much more demanding, shareholders are much less patient and oversight is much more apparent. Regardless of what the title says, you have to have the vision and drive execution. If you come up short on either, I don’t think the future is bright for you or your company.”

Skills that have always been in demand are functional ones, such as finance and marketing, and attributes such as leadership, intellect, integrity and vision, she said. “I think you have to add more skills today to that traditional list. We’re dealing in this complex, global environment.”

And in a global economy, new skills come into play. “One skill is cross-culture communication. It’s being able to adapt to an ever-­changing work environment, whether it’s technology, geography, culturally different people, language…all those nuances an executive needs to bring to the table,” Goudas said.

“The other piece is that executives need to wield digital influence. They need to be effectively using online networks. They need to see the digital picture. And, they must have laser focus.”

“These are complex companies and global organizations, and a lot of very good executives we have groomed in North America are not groomed holistically to handle the complexity of the back end, as well as having the vision to drive the front end.” The ante has gone up tremendously. “We are likely to look at an organization and company that have provided mobility for their executives so they have had the opportunity to live in multiple markets and multiple cultures, and so they are not solely ‘centric’ in one market.”

Source: http://www.wwd.com (Subscription)

Cloud computing to revolutionise Vietnamese technology sector

Cloud computing has been described as a “technological tsunami” and according to recent figures, the phenomenon has hit Vietnam with force.

In Symantec’s latest survey, 46 per cent of participants are already deploying hybrid clouds and virtualisation projects within their organisations.

The benefits of such projects are numerous. Cloud computing not only enables businesses to scale down on operation costs and improve storage performance and rate, it also allows organizations to reduce pressure on existing systems and enhance administrative management abilities.

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Tholons ranks HCM City 17th, Hanoi 21st as software outsourcing destinations

According to the latest Tholons’ report on the 100 cities in the world most attractive in software outsourcing, HCM City ranks the 17th, while Hanoi at 21st.

Tholons still believes that in South East Asia, Vietnam remains one of the biggest ITO (information technology service outsourcing) providers which can replace India and China in the field.

The low labor cost, the improved business environment and qualified labor force all are the reasons that have made big companies such as Intel, IBM, Teleperformance and Siemens decide to set up their distribution centers in Vietnam.

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Global Machine Tool Big Wigs Confirm Participation in MTA VIETNAM 2012, July 3-6

Ho Chi Minh City, Apr 30, 2012 (ACN Newswire via COMTEX)—MTA VIETNAM has proven to be Vietnamese manufacturers’ choice procurement ground for equipment, technology and services. Following the success of the 2011 edition, MTA VIETNAM2012, the premier international trade event for Vietnam’s manufacturing industry, will be back at the Saigon Exhibition & Convention Center (SECC) in Ho Chi Minh City from 3 to 6 July. The event will showcase the latest technologies, products and solutions in precision engineering, machine tools and metalworking available in the global marketplace.

Bringing the best of breed

Last held in Ho Chi Minh City in July 2011, MTA VIETNAM2011 saw more than 9,900 trade attendees attending the show to keep themselves updated on the latest machine tools from around the world. These included 70 group delegations from leading local and international enterprises as they witnessed the strong presentation from many leading international brands, such as Amada, Agie Charmilles, Bystornic, Blum, DMG Mori Seiki, Guehring, Hurco, Mitutoyo, Carl Zeiss, Mitsubishi Electric, MST, Mazak, Nikon, Renishaw, Sutton Tools, and TRUMPF in the show.

Mr. Daniel Nauer, Managing Director of Bystronic, shows his support to MTA VIETNAM at the 2011 show by stating, “We have recently set up a representative office in Ho Chi Minh City as Vietnam is an important market for us. This is the third time we are exhibiting at MTA VIETNAM and we have launched a new machine at the show. This year we’ve met with quality visitors from Ho Chi Minh City and Hanoi. We’re here to promote our brand and educate the industry on laser technology and expand our customer base, and we think that MTA VIETNAM provides us with a platform to meet these objectives.”

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Nike backs waterless fabric dyeing process

Sporting goods giant Nike Inc has teamed up with a Dutch textile machinery company that has developed a way to dye fabrics without using water – and says it hopes to boost the technology’s uptake throughout the apparel industry.

“We believe this technology has the potential to revolutionise textile manufacturing, and we want to collaborate with progressive dye houses, textile manufacturers and consumer apparel brands to scale this technology and push it throughout the industry,” says Eric Sprunk, Nike’s vice president of merchandising and product.

Nike has been exploring this technology for the past eight years and expects to showcase apparel using textiles dyed without water at events later this year. It also wants to scale up the technology for larger production volumes.

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India, Vietnam discuss defense, trade cooperation

Sep 16, 2011. External Affairs Minister S M Krishna, who is here on a three-day visit, held talks with his Vietnamese counterpart Pham Binh Minh.

Their discussions covered bilateral, regional and global issues and the two ministers expressed satisfaction that the Strategic Partnership was developing well.

They agreed to add greater content to bilateral relations in the fields of defence and security, trade and investment, education and culture and other areas, an official statement said.

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Weekly Update Jan 31: TET Lunar New Year, Employee Engagement, U.S.-Asia/Pacific Business Summit

Highlights

We-Mo, Feb 2-7 TET Lunar New Year (Yr of the Cat)
Mo-Mo, Jan 31-Feb 7 TET Lunar New Year (optional 8-day holidays)
We, Feb 16 Member Lunch: Engagement Indicator Survey 2011 Briefing
Th-Fr, Mar 3-4 U.S.-Asia/Pacific Regional Business Summit, Singapore
Mo-Tu, Mar 28-29 APBO Asia Pacific Business Outlook, Los Angeles

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