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1、INTEGRATING INVESTOR RELATIONS INTERNALLYCase Study,Concepts,and Debatable IdeasKenny OngCNI Holdings Berhad,www.myCNI.com.my,www.OOBEY.com,About:CNI,18 years oldCore Business:MLMOthers:Contract Manufacturing,Export/Trading,eCommerceMalaysia,Singapore,Brunei,Indonesia,India,China,Hong Kong,Philippin
2、es,Italy,TaiwanStaff force:500Distributors:250,000Products:Consumer Goods and Services,www.myCNI.com.my,www.OOBEY.com,IR and its problems,Overview of Corporate Communications and Investor Relations problems,www.myCNI.com.my,www.OOBEY.com,How to please Investors(the Dilbert version),1998 United Featu
3、re Syndicate,Inc.,How to please Investors(the Dilbert version),Buy back sharesAnnounce massive cutbacksSpin off New Divisions,Ironically and Unfortunately,the above prescription is true in real life,www.myCNI.com.my,www.OOBEY.com,Why is UMW favored by Analysts?,high dividend yield,low price earnings
4、 multiple,buoyant growth outlook;,Challenges of Investor Relations,Stock-vs.Share-holder*Public OpinionsGlobal operations difficult to explainIncreasing focus on ecological,social,ethical issuesDiverged expectations for same issueWhat to do with Excessive Cash?,Superficial changes vs.Fundamental Cha
5、ngesInvestors depend on hearsay vs.factsShare Price MarketR&D/M.S./HR vs.Investor ExpectationsOpposing Expert views,www.myCNI.com.my,www.OOBEY.com,IR problems,“Good news for stockholders can be bad news for other stakeholders.”Gregory Miller,Assoc.Prof.,Harvard Business School.,www.myCNI.com.my,www.
6、OOBEY.com,Why integrate IR internally?,The unseen effects of Internal Matters on external Investor Relations,www.myCNI.com.my,www.OOBEY.com,Principles of Investor Relations,Long-term relationshipConsistent and ProactivePerformance vs.ControllabilityAligned with operating/strategy positionOne message
7、,Different EmphasisOutside-in Intelligence*,www.myCNI.com.my,www.OOBEY.com,Types of Investors(1/2),Institutional,Fund Managers,Corporations,Sovereign Funds,VCs,NGOs,Non-Profit Org,Financial(Loans),JV Partners,M&A,Social VCs,Holding Co.,HQ(MNC),Gov.VCs,Supply Chain,Gov.Partnership,PFI,Competitors,Fra
8、nchisees,www.myCNI.com.my,www.OOBEY.com,Types of Investors(2/2),Retail,Investor-Shareholders,Employee-Shareholders,Management-Shareholders,Customer-Shareholders,Distributor-Shareholders,Distributor-Entrepreneurs,www.myCNI.com.my,www.OOBEY.com,Why do they Invest?,Return/ProfitRisk Management/HedgingT
9、ax-benefitsCSR/ImageDiversify revenueCounter-cyclical balanceSupport MissionExclusive rights,Contractual obligationNational AgendaControl Supply ChainR&D portfolioControl ManagementAlternative Cash FlowM&A,www.myCNI.com.my,www.OOBEY.com,How do Investors get their INFO?(1/2),Institutional,Gov./Politi
10、cs,Customers,Suppliers,Economics,AGM,Market Research,Internet*,Annual Report,Media,Analysts,Fund Managers,Due Diligence,NGOs,Newsletter,Spokespersons,www.myCNI.com.my,www.OOBEY.com,How do Investors get their INFO?(1/2),Institutional,Gov./Politics,Customers,Suppliers,Economics,AGM,Market Research,Int
11、ernet,Annual Report,Media,Analysts,Fund Managers,Due Diligence,NGOs,Newsletter,Spokespersons,www.myCNI.com.my,www.OOBEY.com,How do Investors get their INFO?(2/2),Retail,Gov./Politics,Customers,Public Events,Economics,AGM,Ads,Internet*,Annual Report,Media,Analysts,Fund Managers,Relatives,Friends,Pasa
12、r Malam,Employees,Employee Bloggers,Mgmt Actions,Newsletter,www.myCNI.com.my,www.OOBEY.com,How do Investors get their INFO?(2/2),Retail,Gov./Politics,Customers,Public Events,Economics,AGM,Ads,Internet,Annual Report,Media,Analysts,Fund Managers,Relatives,Friends,Pasar Malam,Employees,Employee Blogger
13、s,Mgmt Actions,Newsletter,www.myCNI.com.my,www.OOBEY.com,How not to talk to Retail Investors,“The holder of a CAB certificate may continue to serve regularly any point named herein through the airport last regularly used by the holder to serve such point prior to the effective date of the certificat
14、e.Upon compliance with such procedures relating thereto as may be prescribed by the Board,the holder may,in addition to the services hereinabove expressly prescribed,regularly serve a point named herein through any airport convenient thereto.”,Civil Aeronautics Board,1977,How not to talk to Retail I
15、nvestors,“It has been determined not to be in the public interest that United Airlines continue to provide air transportation services between San Diego and San Antonio”,“I forbid United Airlines to fly between San Diego and San Antonio”,What topics interest Investors?,www.myCNI.com.my,www.OOBEY.com
16、,What topics interest Investors?,www.myCNI.com.my,www.OOBEY.com,What Events impact Investors?,www.myCNI.com.my,www.OOBEY.com,What Events impact Investors?,www.myCNI.com.my,www.OOBEY.com,How to integrate IR internally,The unseen effects of Internal Matters on external Investor Relations,www.myCNI.com
17、.my,www.OOBEY.com,What to Integrate?,www.myCNI.com.my,www.OOBEY.com,Principles of Investor Relations,Long-term relationshipConsistent and ProactivePerformance vs.ControllabilityAligned with operating/strategy positionOne message,Different EmphasisOutside-in Intelligence,www.myCNI.com.my,www.OOBEY.co
18、m,Integrating IR internally,Culture,Importanceof I.R.,Investor Relations Principles,www.myCNI.com.my,www.OOBEY.com,Alignment:Framework,Operational and Strategic moves have to consistent with messagesTrust consistency in external-internal messagingVisibility through Culture and MoraleClear Employee r
19、olesOutside-in Intelligence for decision making,Culture,www.myCNI.com.my,www.OOBEY.com,The 6 Sins of Greenwashing,Sin of the Hidden Trade-OffSin of No ProofSin of VaguenessSin of IrrelevanceSin of FibbingSin of Lesser of Two Evils,Study by:TerraChoice,December 2007,Alignment:Framework,Org StructureJ
20、ob DesignC&BPolicies&proceduresDecision makingJob fitManagement SystemsBSC and KPIsDecentralized&Empower,Specialists IR in CR topics e.g.Ethics,Ecology,PoliticsSpokespersonsBusiness Unit reportingShares,C&B schemesIR MR,www.myCNI.com.my,www.OOBEY.com,Alignment:Framework,Role modelingVision/Mission/P
21、hilosophyLeadership StyleDelegation&EmpowermentC&B,PromotionsSense of UrgencySpeak regularly about Strategic and Operational direction,SpokespersonsBusiness Unit reportingFundamentals vs.Short-termIR as MR intelligence,www.myCNI.com.my,www.OOBEY.com,Alignment:Framework,RecognitionRecruitmentTraining
22、Profit sharingValuesMotivationSelf EfficacyAwarenessUseful CompetenciesCareer aspirations,Specialists IR in CR topics e.g.Ethics,Ecology,PoliticsSpokespersonsBusiness Unit reporting,www.myCNI.com.my,www.OOBEY.com,Alignment:Framework,EnablersTechnologyEquipmentMaterialsHumanIntellectual PropertyPartn
23、ersProperty,Financial Utilization InvestmentDivestmentDividendsHRBuybacksRestructuring,www.myCNI.com.my,www.OOBEY.com,Integrating IR internally,Culture,Importanceof I.R.,Investor Relations Principles,www.myCNI.com.my,www.OOBEY.com,Integrating Internal/External,Communications,Internal,External,Mgmt,D
24、istributors,Suppliers,Proactive,Reactive,Proactive,Reactive,COMM Tools,COMM Tools,www.myCNI.com.my,www.OOBEY.com,Employees,Integrating Internal/External,Internal,External,Feed,Feed,www.myCNI.com.my,www.OOBEY.com,Integrating Internal/External,InternalHalal CommitteeSocial Education(e.g.SCK)Umrah trip
25、China TripRBOSCFA/HFACoffee Van,ExternalSponsorshipDonationsNews clippingsNewspaper AdsMHIAwardsCorporate ProfileAGMGov.CelebrityAnalyst research,www.myCNI.com.my,www.OOBEY.com,Integrating Internal/External,InternalEntrepreneur Dev.Health productsHealth education“Made in Malaysia”EventsMedia Celebri
26、ty,ExternalWebsiteDSAMYayasanPublish BookSocial EducationCrisis CommChildren EducationNational interestAnalyst BD connections,www.myCNI.com.my,www.OOBEY.com,Alignment&Consistency,Mamak stall,www.myCNI.com.my,www.OOBEY.com,Alignment&Consistency,They are the most innovativeConstantly renewing and crea
27、tiveAlways on the leading edge,A great deal!Excellent/attractive priceMinimal acquisition cost and hassleLowest overall cost of ownershipA no-hassles firmConvenience and speedReliable product and service,Exactly what I needCustomized productsPersonalized communicationsTheyre very responsivePreferent
28、ial service and flexibilityRecommends what I needIm very loyal to themHelps us to be a success,Product Leadership,OperationalExcellence,CustomerIntimacy,www.myCNI.com.my,www.OOBEY.com,Operational Excellence(low cost producer),Ref:The Discipline of Market Leaders,Michael Treacy 1995,Product Leadershi
29、p(best product),Customer Intimacy(best total solution),Alignment&Consistency:Market Disciplines,www.myCNI.com.my,www.OOBEY.com,The McPlaybook*,Make it easy to eat50%drive-thruMeals held in one hand,Make it easy to prepareHigh TurnoverTasks simple to learn&repeat,Make it quick“Fast Food”Tests new pro
30、ducts for Cooking Times,Make what customers wantProwls market for new productsMonitored field tests,*Adapted from:Businessweek,Februrary 5th 2007,www.myCNI.com.my,www.OOBEY.com,Operational ExcellenceCompetitive priceError free,reliableFast(on demand)SimpleResponsiveConsistent information for allTran
31、sactionalOnce and Done,Customer IntimacyManagement by FactEasy to do business withHave it your way(customization)Market segments of oneProactive,flexibleRelationship and consultative sellingCross selling,Product LeadershipNew,state of the art products or servicesRisk takersMeet volatile customer nee
32、dsFast concept-to-counterNever satisfied-obsolete own and competitors productsLearning organization,Alignment&Consistency:Disciplines,Priorities,and KPIs,www.myCNI.com.my,www.OOBEY.com,Operational ExcellenceMove know-how from top performing units to othersBenchmark against best in classEnsure operat
33、ions training for all employeesUse disciplines like TQM for continuous learning to reduce costs and improve quality,Alignment&Consistency:Market Disciplines,www.myCNI.com.my,www.OOBEY.com,Alignment&Consistency:Market Disciplines,Customer IntimacyCapture knowledge about customersUnderstand customer n
34、eedsEmpower front line employeesEnsure that everyone knows the customerMake company knowledge available to customers,www.myCNI.com.my,www.OOBEY.com,Product LeadershipReduce time to marketCommercialize new products fastEnsure that ideas flowReuse what other parts of the company have already learnedEn
35、sure there are multiple sources of funding,Alignment&Consistency:Market Disciplines,www.myCNI.com.my,www.OOBEY.com,Operational Excellence(low cost producer),Ref:The Discipline of Market Leaders,Michael Treacy 1995,Product Leadership(best product),Customer Intimacy(best total solution),Alignment&Cons
36、istency:Market Disciplines,www.myCNI.com.my,www.OOBEY.com,Operational Excellence(low cost producer),Ref:The Discipline of Market Leaders,Michael Treacy 1995,Product Leadership(best product),Customer Intimacy(best total solution),Alignment&Consistency:Market Disciplines,www.myCNI.com.my,www.OOBEY.com
37、,Summary,www.myCNI.com.my,www.OOBEY.com,Challenges of Investor Relations,Stock-vs.Share-holderPublic OpinionsGlobal operations difficult to explainIncreasing focus on ecological,social,ethical issuesDiverged expectations for same issueWhat to do with Excessive Cash?,Superficial changes vs.Fundamenta
38、l ChangesInvestors depend on hearsay vs.factsShare Price MarketR&D/M.S./HR vs.Investor ExpectationsOpposing Expert views,www.myCNI.com.my,www.OOBEY.com,Principles of Investor Relations,Long-term relationshipConsistent and ProactivePerformance vs.ControllabilityAligned with operating/strategy positio
39、nOne message,Different EmphasisOutside-in Intelligence*,www.myCNI.com.my,www.OOBEY.com,How do Investors get their INFO?(1/2),Institutional,Gov./Politics,Customers,Suppliers,Economics,AGM,Market Research,Internet,Annual Report,Media,Analysts,Fund Managers,Due Diligence,NGOs,Newsletter,Spokespersons,w
40、ww.myCNI.com.my,www.OOBEY.com,How do Investors get their INFO?(2/2),Retail,Gov./Politics,Customers,Public Events,Economics,AGM,Ads,Internet,Annual Report,Media,Analysts,Fund Managers,Relatives,Friends,Pasar Malam,Employees,Employee Bloggers,Mgmt Actions,Newsletter,www.myCNI.com.my,www.OOBEY.com,What
41、 topics interest Investors?,www.myCNI.com.my,www.OOBEY.com,What Events impact Investors?,www.myCNI.com.my,www.OOBEY.com,What to Integrate?,www.myCNI.com.my,www.OOBEY.com,Dont forget,“The business of business is Business,not Investor Relations”,www.myCNI.com.my,www.OOBEY.com,Thank You.,soft copy of slides:http:/,
