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By Dato ’ Syed Amin Aljeffri President Small and Medium Enterprises International

Seminar on Good Corporate & Social Governance in Promoting ASEAN ’ s Regional Integration - 17 January 2007 , ASEAN Secretariat , Jakarta , Indonesia SESSION 3 : SHAPING INTERNAL VALUE APROPOS THE EXTERNAL ENVIRONMENT. By Dato ’ Syed Amin Aljeffri President

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By Dato ’ Syed Amin Aljeffri President Small and Medium Enterprises International

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  1. Seminar on Good Corporate & Social Governance in Promoting ASEAN’s Regional Integration- 17 January 2007, ASEAN Secretariat, Jakarta, IndonesiaSESSION 3:SHAPING INTERNAL VALUE APROPOS THE EXTERNAL ENVIRONMENT By Dato’ Syed Amin Aljeffri President Small and Medium Enterprises International Cooperation Association Malaysia President, Kuala Lumpur Malay Chamber of Commerce Chairman, AljeffriDean, Chartered Accountants

  2. INTERESTING CHOICE OF WORD IN THE SESSION TOPIC “Apropos” • Not a commonly used word but most precise for the given context of today session. • This is a “jargon” that defies accuracy of any other layman language. • Literally, it means “in relation to” but in more closely defined for the context, it means “befitting of”!

  3. INTERESTING CHOICE OF WORD IN THE SESSION TOPIC Therefore the choice of word here clearly synonymous with the idea of “Governance” • Everyone know what it is and endorse the need for it. • But not quite sure about it and do not know how to implement it. • Just as “Apropos” suggest that it is a relative concept, rather than absolute.

  4. INTERESTING CHOICE OF WORD IN THE SESSION TOPIC Given that Governance is a relative concept: • What is internal and what is external are both again “relative” concept. • Generally, there are 3 levels of Governance. • Level 1 : Company/ Business Organisation • Level 2 : Country/ National Jurisdiction • Level 3 : Regional/ International/ Big Environment

  5. INTERESTING CHOICE OF WORD IN THE SESSION TOPIC • While it is clear that Level 1 is Internal and Level 3 is External, Level 2 seems to be in the grey area. • As proper governance in the private companies is set against the legislative environment of the country, the country legislates as a considered reaction to the Big Environment. • In any event, Level 2 seems to be closer to Level 1 as the effect on each other is more apparent. Thus, Level 2 shall be defined as part of “Internal”.

  6. INTERESTING CHOICE OF WORD IN THE SESSION TOPIC • These days, expressed “Value” has become more important by the day. Almost a must nowadays. People must see it, feel it and even touch it! • Formulate such a system of values requires one to be aware of the needs of Big Environment. A simple supply and demand. • However, any marketer would tell you that it is simple said than done.

  7. INTERESTING CHOICE OF WORD IN THE SESSION TOPIC • As one has to be sensitive to changes yet the values set must be accommodative enough to such changes from time to time; as frequent revisit of the values would be harmful for the proper functioning of an organization.

  8. EXTERNAL ENVIRONMENT Here is the list of key changes to the External Environment today: • The World is getting Smaller • Transport, Internet & Media. Due to all these, all the details have never become more apparent. Small is not the new BIG! • The World is getting Faster • Technology is created so that it can be replaced almost immediately. R & D rat race is on! There is no need for it anymore, if you are not fast enough.

  9. EXTERNAL ENVIRONMENT • The World is getting Clearer • Transparency of operation (there is no more secret recipe, if you keep it too long, there soon to be new recipe to replace yours) • Visibility (not only we need to be “naked” but need to shout for attention as well!) • The World is getting Closer • Outsourcing has defied national boundaries! Pick the best talents from the different part of the world at the most competitive, not juts from your city. • The World is getting Ahead • Regardless of whether you move or not, you either tag along or left standing.

  10. SHAPING INTERNAL VALUE • While this part shall be “Apropos” to the External Environment, one must always be sensitive to the internal culture & remember that the center to this value setting is essentially the human capital. • The secret is there the “Human” element in shaping the Value.

  11. SHAPING INTERNAL VALUE • “Human social relationship are central to the decision-making processes in any organisation. This guide outlines the behaviours to be wary of in the boardroom & provides advice on engendering a healthy board culture promoting respect, diversity, honesty, questioning & dialogue around the boardroom table”. • Good corporate governance requires business leaders who are skilled at recognising and dealing with human social behaviour as well as bet practice business processes.

  12. GUIDE IN SHAPING INTERNAL VALUES • Measure that performance on a carefully chosen & limited number of key issues of particular interest to audiences which matter for corporate reputation; • Build onto existing system of management information & risk control; • Make a judgement about performance primarily based on hard numbers & objective benchmarks, to which a qualitative approach can then be added for communication purposes with case studies & more detailed explanations.

  13. Thank you for your time & participation in the Seminar on Good Corporate & Social Governance in Promoting ASEAN’s Regional Integration 2007

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