"Michael Porta" say if you want to be in business, do not stand in the middle!
MINDSET - Offensive or Defensive
Re-Active : Wait for things to happen...
Pro-Active : Make things happen...
S - Segmentation / Divide
T - Targeting
P - Positioning / Perception eg. you want to buy sportswear, you think of NIKE, Adidas..
Secregate, Knowing your target Customer, Attractiveness, Profitability, ROI (Return on Investment) / EVA (Economic Value Added Asset).
In Singapore, that's no longer "Iron Rice Bowl" but lifelong learning (Learning, Re-learning, and Unlearning) (eg. 1 Singaporean worker = 3 Malaysian workers or 13 PRC workers / 16 Indian workers)
Specify : to finish ASAP and give a time
Measureable : quantifiable
Achieveable/ Attainable :
eg. I want to increase my market share by 10%, because I know I can achieve it!
Resources : eg. Labour, Unskill, Low skill, Semi skill, Highly skill, Capital, Land, Equipment,Machine, Entrepreneurial spirit
TimeFrame : Today's Technology -Relevant information for Today's Time
In year 1960 - Labour Intensive
In year 1980 - Capital Intensive
In year 2000 - Knowledge-based Economy
Resources can be controlled
Environment cannot control
Change is Constant
PEST - P : Politics , E : Economy, S : Social Factors (Consumer Taste), T : Technology
SWOT - S: Strength, W: Weakness , O: Opportunity, T: Threat
Thursday, November 29, 2007
Product Life Cycle Management
PRODUCTS do not have predictable life cycles, and the progression of each product through its life cycle varies. In cases, such as milk and petrol, perpetually remain in the mature stage. Others may come and go in a flash
The product life cycle serves as a useful model upon which business can adapt their marketing mix "recipe" to sustain or increase demand for a product. It is also useful for monitoring sales results overtime, and compare them to those of products with similar life cycles.
Strategies for extending the Product Cycles :-
1. Use advertising that is informative in the introduction stage, persuasive in the growth & maturity stages and reminder - oriented in the decline stage.
2. Allocate a bigger promotional budget in the early stages, and gradually reducing expenditure as the product matures and declines..
3. Lowering prices, increasing or modifying channels of distribution, or enhancing product attributes (such as packaging & benefits) or brand image.
4. Introducing the product to new markets
In some cases, it may make more economic sense to devote resources to developing new products, rather than endeavour to "revive" a product nearing the end of its life cycle!
The product life cycle serves as a useful model upon which business can adapt their marketing mix "recipe" to sustain or increase demand for a product. It is also useful for monitoring sales results overtime, and compare them to those of products with similar life cycles.
Strategies for extending the Product Cycles :-
1. Use advertising that is informative in the introduction stage, persuasive in the growth & maturity stages and reminder - oriented in the decline stage.
2. Allocate a bigger promotional budget in the early stages, and gradually reducing expenditure as the product matures and declines..
3. Lowering prices, increasing or modifying channels of distribution, or enhancing product attributes (such as packaging & benefits) or brand image.
4. Introducing the product to new markets
In some cases, it may make more economic sense to devote resources to developing new products, rather than endeavour to "revive" a product nearing the end of its life cycle!
Friday, November 16, 2007
Simple Tasks for our Daily Lifestyle
What are some affordable ways to detox our body?
Try lemon honey drink. Lemon contains lots of vitamins and anti-oxidant while honey has many good properties. Plus eating raw salad vegetables and fruits without adding any sauce or processed food. But bear in mind if you have gastric or any other health problems, you should consult your doctor first.
How is acidic food related to detoxification?
Acidic food helps in digestion but does not necessarily help in detoxification. It also depends on what kind of acidic food you are talking about. Just remember, any food that has undergone processing will not help in detoxification.
Can I use Quaker oats plus honey as face mask?
Yes, honey has many good nutrients and oats acts as an exfoliator/scrub. When rub onto the face and left for 15min-25min, skin becomes smooth and radiant. You may use quacker oats or any other rolled oats. You can grind the oat too if you want finer grains. But what determines whether the mask is effective or not, lies on the honey. Use Manuka Honey UMF 8-15+. Other honey is of little use as the active agents within is limited. Mix the paste, apply with your finger and palm. Rinse off with water only. Do not use facial foam.
How to perform a natural detox?
Natural detox is by means of using natural food and massage to clear toxins from your body. Food that contains no preservative, chemical, or any man-made substance are natural food. Organic ones are the best. Detox does not mean you must starve and only drink liquids for a few days. You will faint. Eating a little vegetables and fruits will help boost your system's immunity when you go on such diet.
How can I get rid of flabby tummy?
Sit-ups and crunches help to tone up the muscles. However, if you have too much body fat, the abdominal area will look flabby and the muscles will not show as they will be hidden by excess fat underlying the skin. So which contributes more depends on the individual concerned - if there is too much fat, there is a need to reduce through a low-fat diet; if muscles are not toned, you need to do more sit-ups/crunches. You also have to consider genetic factors, as well as posture (a "hunched" posture can make the abdomen look "fat").
Will honey become a 'heaty' drink if dissolve in hot water?
Do not dissolve honey in hot water as heat basically destroys the good properties such as vitamins and minerals in honey. Use water in room temperature instead. I don't think a hot honey drink is 'heaty'. Honey in cold water will also not make it a 'cooling' drink. Honey drink that preserves all the vitamins, soothes the body and boosts the immune system.
It might be worth noting that honey can also be used for external application like treating skin rashes. For that purpose, it is required to be of a certain concentration. Look for "Manuka" honey from New Zealand with UMF 20+. Anything less than that may not be suitable.
What is the difference between day and night cream?
During the day, our skin requires protection from the elements, so we may want to apply a day cream with sunscreens and possibly, with antioxidant back up. At night, sun protection is redundant but replenishing any moisture lost during the day and feeding in active agents useful in optimum skin function becomes important. That spells the need for a night cream. The basis of any successful skincare regime is to protect during the day and to 'treat' the skin at night. Day cream and night cream serve different purpose in caring for the skin.
There are blemishes on my leg caused by shaving. How do I make it disappear or less prominent?
Simply apply some Aloe Vera Gel on the affected area. Aloe Vera has been shown to directly encourage tissue re-generation. Aloe Vera Gel is reputated as a folk remedy for burns and wounds, some people even keep one or more aloe vera plants readily available at home. It has healing effect and soothes any discomfort. You may go for Organic Aloe Vera Gel that is without added mineral oil, water or thickener.
Is it true that when I do not have enough sleep, I am prone to getting flu?
When your body does not have sufficient rest, your immune system will be less able to fight virus attack. Sleep is very important for maintaining a healthy body. If you find yourself getting flu quite easily, you should start building up a stronger immune system. Take more fruits like orange and apples for they are rich in vitamin c and phytochemicals. Actually, the whitish part on the orange skin contains more vitamin C than the juice itself. So try eating the whole orange instead of just drinking the juice.
Is there any effective method to eliminate dark eye circle?
Sleep well and I'm sure 50% of your dark eye circles will be gone! Basically dark eye rings are due to poor blood circulation around the eyes. When I do not have enough sleep, I have that problem too. I find facials very useful as the light massage on my face stimulate circulation. However some people perpetually look like "panda bears". They might be having late nights for many years and for people like them, it'll take a longer time to recover.
Always remember, many problems be it skin problems or weight problems etc are caused by poor blood circulation. Our blood is not able to transport oxygen and nutrients to the cells in a particular area that is why skin ages, cells deteriorate and other problems start to arise. As for anti-dark eye ring products, if you have very sensitive skin, my advice is not to try these products. So far from my experience, I have not heard of any miracle that happened due to using a particular anti-dark eye ring product. I personally have tried many but in vain. The only solution I've heard of which is effective is IPL. However a good IPL costs S$500 to S$1000 each time. You have to perform the treatment a few times in order to see results. And dark circles will come back if you never sleep well.
Try lemon honey drink. Lemon contains lots of vitamins and anti-oxidant while honey has many good properties. Plus eating raw salad vegetables and fruits without adding any sauce or processed food. But bear in mind if you have gastric or any other health problems, you should consult your doctor first.
How is acidic food related to detoxification?
Acidic food helps in digestion but does not necessarily help in detoxification. It also depends on what kind of acidic food you are talking about. Just remember, any food that has undergone processing will not help in detoxification.
Can I use Quaker oats plus honey as face mask?
Yes, honey has many good nutrients and oats acts as an exfoliator/scrub. When rub onto the face and left for 15min-25min, skin becomes smooth and radiant. You may use quacker oats or any other rolled oats. You can grind the oat too if you want finer grains. But what determines whether the mask is effective or not, lies on the honey. Use Manuka Honey UMF 8-15+. Other honey is of little use as the active agents within is limited. Mix the paste, apply with your finger and palm. Rinse off with water only. Do not use facial foam.
How to perform a natural detox?
Natural detox is by means of using natural food and massage to clear toxins from your body. Food that contains no preservative, chemical, or any man-made substance are natural food. Organic ones are the best. Detox does not mean you must starve and only drink liquids for a few days. You will faint. Eating a little vegetables and fruits will help boost your system's immunity when you go on such diet.
How can I get rid of flabby tummy?
Sit-ups and crunches help to tone up the muscles. However, if you have too much body fat, the abdominal area will look flabby and the muscles will not show as they will be hidden by excess fat underlying the skin. So which contributes more depends on the individual concerned - if there is too much fat, there is a need to reduce through a low-fat diet; if muscles are not toned, you need to do more sit-ups/crunches. You also have to consider genetic factors, as well as posture (a "hunched" posture can make the abdomen look "fat").
Will honey become a 'heaty' drink if dissolve in hot water?
Do not dissolve honey in hot water as heat basically destroys the good properties such as vitamins and minerals in honey. Use water in room temperature instead. I don't think a hot honey drink is 'heaty'. Honey in cold water will also not make it a 'cooling' drink. Honey drink that preserves all the vitamins, soothes the body and boosts the immune system.
It might be worth noting that honey can also be used for external application like treating skin rashes. For that purpose, it is required to be of a certain concentration. Look for "Manuka" honey from New Zealand with UMF 20+. Anything less than that may not be suitable.
What is the difference between day and night cream?
During the day, our skin requires protection from the elements, so we may want to apply a day cream with sunscreens and possibly, with antioxidant back up. At night, sun protection is redundant but replenishing any moisture lost during the day and feeding in active agents useful in optimum skin function becomes important. That spells the need for a night cream. The basis of any successful skincare regime is to protect during the day and to 'treat' the skin at night. Day cream and night cream serve different purpose in caring for the skin.
There are blemishes on my leg caused by shaving. How do I make it disappear or less prominent?
Simply apply some Aloe Vera Gel on the affected area. Aloe Vera has been shown to directly encourage tissue re-generation. Aloe Vera Gel is reputated as a folk remedy for burns and wounds, some people even keep one or more aloe vera plants readily available at home. It has healing effect and soothes any discomfort. You may go for Organic Aloe Vera Gel that is without added mineral oil, water or thickener.
Is it true that when I do not have enough sleep, I am prone to getting flu?
When your body does not have sufficient rest, your immune system will be less able to fight virus attack. Sleep is very important for maintaining a healthy body. If you find yourself getting flu quite easily, you should start building up a stronger immune system. Take more fruits like orange and apples for they are rich in vitamin c and phytochemicals. Actually, the whitish part on the orange skin contains more vitamin C than the juice itself. So try eating the whole orange instead of just drinking the juice.
Is there any effective method to eliminate dark eye circle?
Sleep well and I'm sure 50% of your dark eye circles will be gone! Basically dark eye rings are due to poor blood circulation around the eyes. When I do not have enough sleep, I have that problem too. I find facials very useful as the light massage on my face stimulate circulation. However some people perpetually look like "panda bears". They might be having late nights for many years and for people like them, it'll take a longer time to recover.
Always remember, many problems be it skin problems or weight problems etc are caused by poor blood circulation. Our blood is not able to transport oxygen and nutrients to the cells in a particular area that is why skin ages, cells deteriorate and other problems start to arise. As for anti-dark eye ring products, if you have very sensitive skin, my advice is not to try these products. So far from my experience, I have not heard of any miracle that happened due to using a particular anti-dark eye ring product. I personally have tried many but in vain. The only solution I've heard of which is effective is IPL. However a good IPL costs S$500 to S$1000 each time. You have to perform the treatment a few times in order to see results. And dark circles will come back if you never sleep well.
Thursday, November 15, 2007
Recap of changes to CPF system
Ongoing & many changes on queue happening in this planet earth, I maybe getting older and no kids to take care of me, so this is an extract from my readings to store in my memory bank
DELAY in Draw Down (NOW: you withdraw your CPF savings at 55 and start getting monthly payouts from your minimum sum when you hit 62). WHAT will change : (you still withdraw your CPF at 55. But you have to wait longer before getting your monthly payouts from your Minimum Sum. The age will be gradually increased from 62 to 65, all those 53 or younger this year having to wait the full three years).
HIGHER Interest : (NOW:- Ordinary Acct earns 2.5% and 4% in Special, Medisave & Retirement Accts (SMRA). What will change : ( Firstly from next yr 2008, combined balances in all accounts of up to $60,000 will give you 1 percentage point more in interest. BUT only the 1st $20,000 in your OA will earn 3.5%. Secondly the 4% fixed interest on your SMRA will be replaced with a rate that is the return on 10year Singapore Government Securities plus 1% point (10-year SGS + 1). For the next two years, Govt has kept the floor at 4%.
Some form of Annuity for those aged 50 or younger :-
NOW:- you get your monthly payouts from Minimum Sum at age 62. After 20yrs, the sum runs out, you are on your own. WHAT will change: (you must buy some form of annuity, or longevity insurance, if you are 50 or younger. It will pay you monthly for life, after you hit 85. Details are being worked out. But it could involve paying a small portion of your Minimum Sum to buy..)
DELAY in Draw Down (NOW: you withdraw your CPF savings at 55 and start getting monthly payouts from your minimum sum when you hit 62). WHAT will change : (you still withdraw your CPF at 55. But you have to wait longer before getting your monthly payouts from your Minimum Sum. The age will be gradually increased from 62 to 65, all those 53 or younger this year having to wait the full three years).
HIGHER Interest : (NOW:- Ordinary Acct earns 2.5% and 4% in Special, Medisave & Retirement Accts (SMRA). What will change : ( Firstly from next yr 2008, combined balances in all accounts of up to $60,000 will give you 1 percentage point more in interest. BUT only the 1st $20,000 in your OA will earn 3.5%. Secondly the 4% fixed interest on your SMRA will be replaced with a rate that is the return on 10year Singapore Government Securities plus 1% point (10-year SGS + 1). For the next two years, Govt has kept the floor at 4%.
Some form of Annuity for those aged 50 or younger :-
NOW:- you get your monthly payouts from Minimum Sum at age 62. After 20yrs, the sum runs out, you are on your own. WHAT will change: (you must buy some form of annuity, or longevity insurance, if you are 50 or younger. It will pay you monthly for life, after you hit 85. Details are being worked out. But it could involve paying a small portion of your Minimum Sum to buy..)
Travel - Munich
What a boring Sunday 11th Nov 2007! He woke up feeling sick so we managed to consult a new clinic. Truthfully, he caught slight fever, sore throat, maybe flu is on the way..But tonight he has no excuse for business trip, he still has to catch SQ26 Sin to Frankfurt (13hrs 15mins), then Frankfurt to Munich by LH964 (extra 1hr). Upon arrival, poor guy, no voice to talk... my heart melts...which he told me thick snow and free-zeee in Germany. After check-in, he was so enthusiast to show me the scenery! Oooh, I can only dream to tell my contact now is Hotel Munchen Giesing, Heimgartenstrasse 14, D-81539 Munchen, Tel: +49 89 620390. But..it costs me Euro 177 ++ Yello! Better wake up to run more errands for more $$$
Wednesday, November 14, 2007
Wills & Estate Planning
I was arranging my files in office and discovered some notes that I have received from a seminar in mid 2007 by a lawyer. This should be an important reminder to note down :-
RATES OF ESTATE DUTY:
Exemptions
(1) Residential Property $9million
(2) Movable Property (including CPF money) = $600,000
(3) CPF funds in excess of $600,000, the entire amount is exempted and no further exemption for movables.
RATES OF ESTATE DUTY:
Exemptions
(1) Residential Property $9million
(2) Movable Property (including CPF money) = $600,000
(3) CPF funds in excess of $600,000, the entire amount is exempted and no further exemption for movables.
- Tax Rates and Interest on Estate Duty is 5% for every dollar of the first $12million
- 10% for every dollar exceeding $12 million
- 0% for the 1st 6months after death
- 6% on the unpaid estate duty for the 6months after death to payment
- 12% on the unpaid estate duty for the 18months after death to payment
WHAT HAPPENS ON DEATH?
Deceased WITH a Will? Executor under the Will applies to Court for Grant o Probate. Payment of Estate Duties before extraction of Grant. Calls in and converts the assets into cash and /or distributes cash/assets accordingly to Will.
Deceased WITHOUT A Will?
- Next of Kin applies to Court for Grant of Letters of Administration
- Payment of Estate Duties before extraction of Grant
- Provides sureties for the gross value of the estate
- Calls in and converts the assets into cash and/or distributes cash/assets according to Intestate Succession Act
AVOIDING ESTATE DUTY?
Measures : (1) Buy residential property (2) Trusts (3) Inter Vivos Gifts (4) Life interest for spouse (5) Family or Holding Companies
Insurance (1) S73 Trust Policies (2) Other policies: note S61 of Insurance Act on payment of all life and personal accident policies issued by insurer without Probate or Letters o Administration.
"Starting Point"
"Wake up early in the morning, with endless ideas in my mind...pause...holding back my steps...then moving forward again...repeating everyday...finally I pin down to create the history, the present and begin this track..."
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