Posts tagged: management

A non-finance manager or business owner would want to learn the following

By , August 4, 2015 9:03 am
  1. Introduction to Financial Accounting
  2. Introduction to Management Accounting
  3. Corporate Finance for Project Management
  4. Introduction to Financial Statement Analysis
  5. Introduction to Investment
  6. Introduction to Securities Trading
  7. Introduction to Alternative Investment
  8. Corporate Taxation, Investment Taxation, Personal Taxation
  9. Investment Law

An argument against Rat Race Cashflow in Vietnam market

By , March 16, 2013 2:58 am

The benefit of diversification

Why Robert Kiyosaki’s "Rat Race" Cashflow game is more harmful than useful in Vietnam market:

  1. Most available passive income sources (dividend yield, coporate bond rate, deposit rate, insurance rate) can’t beat real inflation. Relying on passive income is a gradual decay, a timed death.
  2. An illiquid corporate bond market plus an extremely risky equity market (read: not for moms and pops) means very few choices of instruments are available to retail investors.
  3. The personal wealth management industry is underdeveloped. Many lucrative assets that are expected to yield passive income are not available to retail investors.
  4. Authority: the visible wealth of Kiyosaki comes from selling self-help / motivational books, not from trading financial assets. A question on the authority and validity of his methods exists, at least from a finance professional perspective.

Why harmful? Because in finance, doing nothing (max loss = inflation – deposit rate) is less worse off than doing the wrong thing (max loss potential = 100% capital).

Image source: http://dilbert.com/strips/comic/2008-12-13/

Why Facebook still needs Mark Zuckerberg as leader

By , August 26, 2012 9:28 am

A comment on criticism by Carly Fiorina and Gordon Bethune.

The biggest challenge to Facebook right now is going mobile.

Effectively, Facebook is still in product development phase. It needs a war-time leader, a geek not a slick businessman.

The mobile app, mobile ecosystem industry is still growing without an emergence of a dominant giant. How many business CEO are there who are experienced to run a mobile company?

Mark would do well to take the advice of people who have done it before…

Carly Fiorina

Code for Efficient Frontier, Global Minimum Variance Portfolio, Tangeng Portfolio

By , August 7, 2012 8:57 pm
/* 
 * This pseudo-code class entails the risk and expected return values for efficient frontier
 * In real code, accessors and mutators should be provided
 */
class EfficientFrontier()
{
	float[] return;	// series of expected returns on efficient portfolios
	float[] risk;	// series of standard deviation of returns of efficient portfolios
	float gmvpReturn;	// expected return of Global Minimum Variance Portfolio
	float gmvpRisk;	// standard deviation of returns of Global Minimum Variance Portfolio
	float tangentReturn;		// expected return of the efficient portfolio tangent to Capital Market Line
	float tangentRisk;	// standard deviation of returns of the efficient portfolio tangent to Capital Market Line
	float shortConstraintMaxReturn;	// maximum expected return that an efficient portfolio can reach
	float shortConstraintMaxRisk;	// standard deviation of returns of the efficient portfolio with maxmimum return
}

/* 
 * This pseudo-code function produces position of Markowitz Efficient Frontier
 */
EfficientFrontier getEfficientFrontier(float[][] price)
{
	const float c1 = 0.1;	// first substitute of risk-free rate for Black's shortcut
	const float c2 = 0.2;	// second substitute of risk-free rate for Black's shortcut
	float[] annualReturn = annualReturn(price);
	float[][] annualVarcovar = annualVarcovarMatrix(price);
	annualVarcovar = InverseMatrix(annualVarcovar);
	
	for (i = 0 ; i < NUMBER_OF_VARIABLES ; i++)
	{
		for (j = 0 ; j < NUMBER_OF_VARIABLES ; j++)
		{
			z1[i] += annualVarcovar[i][j] * (annualReturn[j] - c1);
		}
		sumz1 += z1[i];
		x1[i] = z1[i] / sumz1;
	}
	
	// repeat for z2 & x2;
	
	float expectedReturn1, expectedReturn2;

	for (i = 0 ; i < NUMBER_OF_VARIABLES ; i++)	// calculate expected return
	{
		expectedReturn1 += annualReturn[i] * x[i];
	}
	
	// repeat for expectedReturn2;
	
	variance1 = z1[] * annualVarcovar * z1[];	// this is a shorthand for tri-matrices multiplication. Actual code should extend the calculation of matrix multiplication
	
	// repeat for variance2;
	
	covariance = z1[] * annualVarcovar * z2[];

	return = discreteReturn(price);
	risk = stdDev(price);

	for (i = 0 ; i < NUMBER_OF_OBSERVATIONS ; i++)
	{
		if (maxReturn < return[i])	maxReturn = return[i];
		if (maxRisk < risk[i])	maxRisk = risk[i];
		// the maximum return and standard deviation here are not exactly value due to limitation of the method
	}

	do
	{
		w2 = 1 - w1;	// rebalance the two asset portfolio
		EfficientFrontier.return[i] = w1 * expectedReturn1;	// for demonstration only, a mutator should be used
		EfficientFrontier.risk[i] = (w1^2 * variance1 + w2^2 * variance2 + 2 * w1 * w2 * covariance)^(1/2);	// for demonstration only, a mutator should be used
		w1 += INCREMENT;
		i++;
	}
	while(EfficientFrontier.return[i] <= maxReturn);	// for demonstration only, an accessor should be used
}

/* 
 * Global Minimum Variance Portfolio
 */

	gmvpWeight1 = (variance2 - covariance) / (variance1 + variance2 + 2 * 

covariance);	// Bodie Kane Marcus Investments 8e page 204
	gmvpWeight2 = 1 - gmvpWeight1;
	EfficientFrontier.gmvpReturn = gmvpWeight1 * expectedReturn1 + 

gmvpWeight2 * expectedReturn2;
	EfficientFrontier.gmvpRisk = (gmvpWeight1^2 * variance1 + gmvpWeight2^2 * 

variance2 + 2 * gmvpWeight1 * gmvpWeight2 * covariance)^(1/2);

	tangentWeight1=(expectedExcessReturn1*variance2-

expectedExcessReturn1*covariance)/

(expectedExcessReturn1*variance2+expectedExcessReturn2*variance1-

(expectedExcessReturn1+expectedExcessReturn2)*covariance);
	// Bodie Kane Marcus Investments 8e page 207
	tangentWeight2 = 1 - tangentWeight1;
	EfficientFrontier.gmvpReturn = tangentWeight1 * expectedReturn1 + 

tangentWeight2 * expectedReturn2;
	EfficientFrontier.gmvpRisk = (tangentWeight1^2 * variance1 + 

tangentWeight2^2 * variance2 + 2 * tangentWeight1 * tangentWeight2 * covariance)^

(1/2);

	return EfficientFrontier;

Book reviews: The Effective Executive; It’s Not How Good You Are, It’s How Good You Want to Be; Liar’s Poker

By , December 10, 2011 3:02 am
The Effective Executive - Peter F. Drucker

The Effective Executive – Peter F. Drucker

★★★★★

A classic work by the father of modern management science, this book is the first to distinguish effectiveness from efficiency, and identify principles of management.

While named "The Effective Executive", the book does not only discuss management of subordinates, but also management and enhancing effectiveness of one’s self.

This book is pragmatic, authoritative, definitive, and compelling. The author gets to the points without unnecessary narration and defensive techniques usually found in management texts.

Despite being completed in 1966, the wisdom from the book is still relevant today, free of fads and jargons. This timeless book is to last. I give the book a full five star.

It's Not How Good You Are, It's How Good You Want to Be - Paul Arden

It’s Not How Good You Are, It’s How Good You Want to Be – Paul Arden

★★★★★

A powerful book, "It’s not how good you are, it’s how good you want to be" tells different stories from the experience of the author as a manager from his creative firm.

Each chapter starts with a short and acute mantra, accompanying stories, and morals behind the stories.

The language used in the book is heart-touching and persuasive. The stories are kept short and straight-forward while not any less inspiring.

The book is very well crafted with art works, illustration, brilliant use of colors, typography choice, and white spaces.

Overall, this is a good read for everyone, not only restricted in the creative industry. I give the book five star.

Liar's Poker - Michael Lewis

Liar’s Poker – Michael Lewis

★★★★★

Writing a review for "Liar’s Poker" was not an easy job for me due to the complexity of attitude and emotions I was going through during and after reading the book.

The book reflects an important stage in history of Wall Street – the road to glorious domination and subsequent demise of Salomon Brothers. The saga sets off two entities: the financial instrument (mortgage-backed securities) and its creators.

The complexity of emotions I mentioned arose from enjoying being entertained by the sharp wit of the author, mixed with a drive on a solemn quest to deduce applicable lessons from the experience. It’s easy to be entertained and then sneer about the jokes, but it’s tough how to move things forward post-illumination.

I’m curious what you will personally share after reading this book.

Toward Enterprise 2.0 – positioning the 2.0 characteristics in an Enterprise and some suggestions for FPT

By , April 17, 2009 11:04 am

1. Introduction

This article discusses implications behind the adoption of a “2.0” approach to corporate management. This article is built on and extends the introductory discussion of an FPT HR representative on their application of 2.0 to internal communications. It seeks an equivalent position of the 2.0 characteristics within an organization. Basing on this finding, recommendations are given to FPT.


Hi TaiTran,
Ko hiểu youtube có lỗi hay do mạng lởm nên tôi ko trả lời bạn trực tiếp được tại video trên youtube. Quản trị 2.0.
Quản trị 2.0 là khái niệm được FPT nhắc tới bắt đầu từ 2008, đơn giản là ứng dụng 2.0 vào công việc quản trị. Các bạn chắc biết rõ hơn tôi về web 1.0 và 2.0 và biết sự khác biệt giữa 1.0 – tiếp nhận thông tin 1 chiều và 2.0 tăng tính tương tác.
Quản trị 2.0 tương tự:
– Đưa ứng dụng web 2.0 vào việc quản trị. Ví dụ mở các kênh tiếp nhận thông tin từ nhân viên qua blog công ty để lãnh đạo lắng nghe ý kiến nhân viên tốt hơn. Các lãnh đạo tự mở blog cá nhân để chia sẻ về suy nghĩ bản thân, truyền tải thông điệp lãnh đạo (ko nhất thiết trong công việc) để gần hơn với nhân viên và tiếp thu thông tin.
Hiện FPT đang có kênh 2.0 đặc trưng là: Chợ Dưa FSoft – chodua.com và FLI Blog: fli.fpt20.com, là kênh internet có thể truy cập. Còn các forum, mạng nội bộ khác chỉ dành cho nhân viên FPT. Đặc điểm ẩn danh cho phép nhiều người được nói thẳng nói thật ý kiến và cả các bức xúc của mình trong công việc hay comment thoải mái về các chính sách công ty mà ko sợ lộ mặt.
Những cái này có thể nhiều công ty đã áp dụng như “học thuật” hóa thì được gọi là quản trị 2.0.
Những thông tin khác bạn có thể đọc tại fli.fpt20.com hoặc chodua.com. Mời bạn vào trao đổi! Tks!

vanbich, FPT HR representative

Ông Trương Gia Bình nói về Visky 2.0

2. The position of the 2.0 characteristics

2a. Web 2.0 is about Communication. Is Enterprise 2.0 about Communication?

Basing on the comment from vanbich, the idea of FPT 2.0 is to provide channels and facilities for their employees to communicate with one another and with leaders.

At first, it seems sensible given light that a Web 2.0 product provides platforms for its users to communicate and share information with one another. And users do this with purposes.

Some examples of Web 2.0 products:

Product Effective communication channels Purpose of product creators Main purpose of users
WordPress
  • Entries
  • Comments
Provide a collaborative blogging platform Share & aggregate knowledge
Facebook
  • Walls
  • Media
  • Comments on most items
  • B2C: Public Profiles
  • …a few others…
  • Provide means for people to explore one another’s activities
  • Provide technical platform
Explore connections’ activities
MySpace
  • Verbal comments
  • Non-verbal expression through media and page styling
Provide means for people, especially artists, to show off their interests Express their ego
Twitter
  • Short messages
  • Provide viral platform
  • Provide technical platform
  • Viralize their contents
  • Quickly update their activities

How are “2.0 communication” and FPT’s explanation linked together?

It’s useful to map the idea:

Comparing Web 2.0 with Enterprise 2.0

Figure 1 – trying mapping web 2.0 product and enterprise 2.0: incorrect

While we see that the total scale of a Web 2.0 product is allow Communication, the total scale of an Enterprise is much larger than that. We want to revise the ‘conventional’ enterprise:

Classic Enterprise

Figure 2 – simplified model of a conventional enterprise

That is the full scale of an Enterprise. Communication plays an important role, but does not take up entirely its operations.

So how do we map it more precisely?

2b. Here is what I visual it: mapping between two 2.0 entities

Firstly, as we know that communication is the main activity of a Web 2.0 product, it is important to find out what is the main activity of an Enterprise. As from figure 2, the main activity of an enterprise is Production and/or Providing Services.

Secondly, it is important to characterize the style of communication in Web 2.0 products so that we can do the same on the style of production of an enterprise.

What best describes “multi-directional” and “decentralized”? It is autonomous. People in the 2.0 sphere communicate autonomously and are responsible for their behaviors.

Combining these two findings, here is what I propose the mapping between a Web 2.0 product and an Enterprise:

Comparing Web 2.0 with Enterprise 2.0

Figure 3 – mapping web 2.0 product and enterprise 2.0

At full scale, the applied 2.0 characteristics does not only involve open and partially anonymous communication, but reach the level of autonomy in production.

3. Some considerations

  1. It’s easier for startups than for an established company.
    Think about Google. It had been famous for its anti-corporate culture at the first days. As the company becomes mature, corporate issues start to emerge.
  2. Does the structure of the company make it reasonable to build autonomous teams/divisions?
  3. Does the culture of the company and the culture of the society make it reasonable to build autonomous teams/divisions?
  4. How ready are the employees, in terms of capability and mentality, to be autonomous?
  5. Autonomous, together with self-directed communication is not new. It traces back to 1970s and Motorola, Xerox, AT&T and so on. However, it might be new to Vietnam.

4. Some recommendations for FPT toward 2.0

  1. Select mature teams to build autonomy
  2. Delayer these teams
  3. Allow (sometimes dramatic) changes in structure, culture and mentality
  4. Allow (sometimes dramatic) changes in personnel management and resource allocation
  5. Treat this as on-going experiment

Benefits:

  1. Bring the “2.0 spirit” to the company as leaders desire
  2. Increase innovation
  3. Reduce cost, especially management overhead
  4. Reduce absenteeism
  5. Identify unofficial leaders of the teams in addition to the existing leadership training program

5. Summary

Changes in production characteristics, rather than sheerly in communication, reflect the full-scale shift within an Enterprise. Analyzing Web 2.0 characteristics leads us to autonomy. Whether and how FPT will implement it is interesting to observe. The implications of recommendations in this article go beyond social media, product management and technology companies to leadership generally.

6. Reflection

It has been challenging and exciting to write this. The excitement was how I can link seemingly scattered parts of my knowledge to form a cohesion piece of consultation – something I love doing. The great challenge lies in the idea of evaluating a big, established, known and loved company. Nevertheless, if I want to learn, first thing first, I must dare the keyboard discussion.

Spreading the word for BarCamp Hanoi 2009

By , April 10, 2009 12:59 pm

BarCamp Hanoi

Barcamp Hanoi 2009 will be held on April 19, from 8.30 AM to 5.00 PM at RMIT International University, Hanoi campus – 2/2C Van Phuc Compound, Kim Ma street, Hanoi.

Topics may include, but are not limited to: online services, social media, startups, UI design, entrepreneurship, VC, Web 2.0 technologies, online marketing, online advertising, online payment, e-commerce, open source software, hardware hacking, robotics, mobile computing, bioinformatics, programming languages, even the future of technology or global issues.

REGISTER FREE HERE: http://www.barcamphanoi.org/?page_id=10&lang=en
WANT TO SPONSOR US: http://www.barcamphanoi.org/?page_id=12&lang=en

As a part of the community building process, we’re looking for people to help spread the word about the event.

SO WHAT CAN YOU DO?

* Add a badge to your websites or blogs (http://www.barcamphanoi.org/?page_id=130&lang=en)
* Write blog entries about Barcamp and Barcamp Hanoi 2009 (What is Barcamp?, Information about Barcamp Hanoi 2009, Sponsor for Barcamp Hanoi,…)
* Spread information about Barcamp Hanoi 2009 to people who may concern, maybe via IM, Discussion groups, Email, Twitter, Facebook,…

That would help us alot and make Barcamp Hanoi even more successful.

Thank you so much, we greatly appreciate what you do for Barcamp Hanoi.

***

Hội thảo công nghệ mở Barcamp Hanoi 2009 sẽ được tổ chức vào ngày 19/4, từ 8.30 sáng đến 5.00 chiều tại trường Đại học Quốc tế RMIT, cơ sở Hà Nội – 2/2C khu Ngoại giao đoàn Vạn Phúc, đường Kim Mã, Hà Nội.

Chủ đề không giới hạn, có thể bao gồm: Dịch vụ trực tuyến, social media, startups, thiết kế giao diện người dùng, entrepreneurship, Đầu tư mạo hiểm, Các công nghệ Web 2.0, marketing trực tuyến, quảng cáo trực tuyến, thanh toán trực tuyến, thương mại điện tử, phần mềm mã nguồn mở, hardware hacking, robotics, mobile computing, bioinformatics, các ngôn ngữ lập trình, công nghệ tương lai, các vấn đề toàn cầu…

ĐĂNG KÝ THAM DỰ TỰ DO TẠI ĐÂY: http://www.barcamphanoi.org/?page_id=10
TÀI TRỢ CHO SỰ KIỆN NÀY: http://www.barcamphanoi.org/?page_id=12

Là một phần của quá trình xây dựng cộng đồng, rất mong các bạn giúp đỡ quảng bá sự kiện này đến những người quan tâm.

BẠN CÓ THỂ LÀM GÌ ĐỂ GIÚP ĐỠ BARCAMP HANOI?

* Thêm phù hiệu Barcamp Hanoi vào website hay blog của bạn. (http://www.barcamphanoi.org/?page_id=130)
* Viết blog về Barcamp Hanoi (Barcamp là gì?, Thông tin về Barcamp Hanoi 2009, Tài trợ cho Barcamp Hanoi,…)
* Gửi địa chỉ trang web này và giới thiệu với những người có thể quan tâm, có thể qua Yahoo! Messenger, Email, Forum, Twitter, Facebook,…

Việc này sẽ giúp những người tổ chức rất nhiều và làm cho sự kiện thành công hơn nữa.

Cảm ơn các bạn, chúng tôi thật sự rất cảm kích những gì bạn làm cho Barcamp Hanoi.

RMIT Vietnam Alumni System public version V2

By , February 9, 2009 2:47 pm

sannhac.com as platform

By , January 16, 2009 11:20 am
  1. Platform for (1.0 – 1.5) product marketing
  2. Platform for keeping the heat of singers
  3. Platform for boosting, measuring and managing consumer (music purchasers) loyalty
  4. Platform for viral marketing
  5. Platform for fan pages

Just my quick thoughts.

More on Social Media Management positions, Britney this time

By , January 13, 2009 3:06 pm

My homework wasn’t a joke.

And apart from Obama’s, Britney Spears’ crew is serious about managing her online identity.

Britney Spears Online Identity Manager Ad

Source: TechCrunch

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