Mir Moiz’s Weblog
Life is meaningful, only when one wishes to make it. We are creatures of time and we’ll wither away in it. The little moments of joy we find and create are all that will live with us.Archive for Business
CEO Sharing Bonus. Now that is News!
Lenovo Chief Yang Shares Bonus With Workers a Second Year
Lenovo Group Ltd. (992), the biggest personal computer maker, said Chief Executive Officer Yang Yuanqing will share at least $3 million of his bonus with workers for a second straight year after posting record sales.
About 10,000 workers will get payments this month to recognize their contributions, Gina Qiao, senior vice president of human resources, said in a memo to some workers. The memo was confirmed by spokesman Jeffrey Shafer, who said the total payment will be about $3.25 million.
Lenovo posted revenue of $34 billion and PC shipments of 52.4 million units in the 12 months ended March 31 as the company gained market share and expanded sales of smartphones and tablets. The 48-year-old Yang, who gave $3 million from his bonus a year earlier, led the company past Hewlett-Packard Co. (HPQ) in the June quarter.
“This is quite rare, especially for a chairman of a Chinese company, to use his personal money as a bonus to reward employees,” said Kirk Yang, a managing director at Barclays Plc in Hong Kong who rates the shares overweight.
Lenovo, which has headquarters in Beijing and Morrisville, North Carolina, rose 0.7 percent to HK$7.55 in Hong Kong trading. The stock has climbed 7.6 percent this year while the city’s benchmark Hang Seng Index has dropped 2.1 percent.
Payments will be made to Lenovo staff in 20 countries, while about 85 percent of the recipients are in China, Shafer said. Yang spends time in both the Beijing and Morrisville offices, the spokesman said last year.
Month’s Pay
“This payment is personally funded by Yuanqing,” Qiao said in the memo. “He believes that he has the responsibility as an owner of the company, and the opportunity as our leader, to ensure all of our employees understand the impact they have on building Lenovo.”
The average payment of about $325 is almost equal to a month’s pay for a typical city worker in China. The average annual wage of urban workers at private companies last year was 28,752 yuan, the National Bureau of Statistics said in May. That’s equal to about $392 a month.
Yang was paid $14.6 million last year, including a bonus of $4.23 million and long-term incentive awards of $8.94 million, according to the company’s annual report. Yang holds about 744 million shares of Lenovo, or 7.1 percent of the company’s outstanding stock, as of the end of March, the report said.
Dell, HP
Meg Whitman, CEO of Hewlett-Packard, received nearly $15.4 million in fiscal 2012 after the company posted a net loss for the year. Michael Dell, CEO of Dell Inc. (DELL), was paid $13.9 million in the year ended Feb. 1 when the company posted lower sales and earnings and its share price declined.
Lenovo had more than 35,000 employees globally at the end of March. Employees who received the bonus from Yang were mostly those in manufacturing paid on an hourly basis, who are not eligible for other bonus programs or sales commission, Shafer said.
Other executives to share their bonus include Oleg Deripaska of the world’s largest aluminum producer United Co. Rusal (486), who gave his $3 million bonus for 2012 to 120 employees, UPI reported in July. Simon Wolfson of Next Plc (NXT), the U.K. clothing retailer, awarded his bonus of about $3.7 million to 19,400 staff, the Telegraph reported in April.
To contact Bloomberg News staff for this story: Edmond Lococo in Beijing at elococo@bloomberg.net
To contact the editor responsible for this story: Michael Tighe at mtighe4@bloomberg.net
Source: Bloomberg
Strategic Patience
Insignificant as it might appear… Yet the thought expressed below should be considered deeply.
Patience is a virtue. It is so because it mainly helps one stay composed and focused to persist. The win is made through persistence not patience, yet to stay persistent requires patience.
Patience varies in its applications and it’s forms. Sometimes it is of a long-term nature and sometimes it is of the short-term nature.
To have it requires a grip on both forms.
Strategic patience has to do with the short-term, because it is about the type of patience one has to exercise when the immediate pressure of a situation becomes extremely agitating and confining.
Having this type of patience means that our focus stays strong and so we persist to win in difficult situations.
© MIR
The Need for Better Processes
Our lives are a complex mix of many things that are often times occurring in parallel. While most of us spend time over the course of each day, yet we seldom evaluate that the time we spent runs in a controlled environment such as an academic institution or a professional setting.
For an average mainstream person more than 60% out of 1,440 minutes over a day are spent in a controlled environment.
Successively over months and years this environment grows upon its occupants and dictates the conduct they have to maintain.
Processes are the only thing that controls these environment. Those that occupy it do not control it. They are in turn controlled by their environment and all this happens at a subconscious level.
This is precisely the reason that we liven up and loose stress when we go on a vacation or experience nature in its variations.
Businesses today are waking up to this fact and realizing that how their people perform is a direct result of a subconscious mechanism that either grooms and improves their workforce or subdues and dumbs down their minds.
Processes are the key that control the delivery of pleasure or pain.
Leaders at all levels need to realize that improving their processes is the central aspect to any kind of success.
The standards we devise and develop for businesses small and big is the vehicle to achieve that end. It is what prudent leaders do to empower the institutions they run.
If you feel like making that choice…
Get it touch with me and my brilliant team.
Consultation is absolutely free.
© MIR
Capacity and Tenacity
What’s more important in your view? Capacity or Tenacity.
Capacity to do something empowers us with the tools that are needed to break through a situation, to enable the necessary change and to shift the canvas on things. Tenacity on the other hand is the strength to keep at it and to not stop till the end is achieved. Like a drill machine, tenacity empowers the will to go on, to be at it and to break through a situation that does not allow for change.
In my view both capacity and tenacity are complimentary components for building change. For one without the other looses it’s meaning and it’s underlying purpose.
So, if you posses natural capacity then focus on building tenacity and if you possess natural tenacity, focus on building capacity.
It’s then that you will build magic.
© MIR
Managers and Subordinates
The need for group oriented work (multiple hands) lead to the conception of hierarchies. As management practices evolved they stipulated a wide array of techniques and best practices some of which survived mainly over the past 200 years of industrialization and were solidified into best practices and recommended techniques. A lot of authors and writers have delved into the merits of people management and notable scholars and academics have highlighted upon mistakes and pitfalls.
The simple fact due to which the subject still eludes perfection and continues to demand dress ups is because since the past 200 years business runners have been trying to fit people into boxes they do not want to fit into.
Its a constant circus like trying to cage a Squirrel that very quickly finds a way out through a crack or an opening acting before one can think properly.
People are thinkers, all of them – educated ones and uneducated ones. Education can uniformly provide them with life’s stimulus that helps them evolve their ways but the ways are already there naturally.
People naturally form communities and find ways to do things and most importantly – build things.
When one human being tries to box in another human being there is natural resistance. The approach in the past more aptly followed in the oriental cultures was to walk with them and reason. That is not what industry followed for the past 200 years. Europeans and Americans mechanized the machines and then they tried to mechanize humans to fit the boxes. This approach is evident in the way of life and its core nuclear family structure. There were a number of short-term gains but then there were major long-term losses too.
Today the world is far more different than ever before. We eat, wear, feel, effect and reflect globally. The interdependencies are multifaceted and multi-tiered borrowing from diverse experiences and the stimulus is growing exponentially.
For this world the old models will not do, we need evolved ways and newer means to handle human creation and development.
© MIR
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