Growth is vital to every any business. Yet according to author Andy Brent growth is often the least well-managed area of a business’ operations. In his new book, The Growth Director’s Secret, Mr Brent examines the structural and cultural factors that hold many conventionally-organized companies back.
On Friday, 25 January members and guests join an “Open House” at Asia Insight Circle to learn more about the management of growth. Joining Andy Brent are marketing leaders Ms Mi Li of South China Morning Post and George Liu, CMO of Hong Kong Airlines.
Below is the pre-briefing book for the event including the biographies of all attendees.
Growth is an assumption of every business. Ask any manager and they’ll say they hope 2019 will bring greater revenue, higher profits, and new products or services to offer. Yet looking deeper at growth it’s a responsibility that’s not assigned to any one person in the company.
The CEO is managing the whole of the business, and gets locked into day-to-day issues across all areas. Marketing is looking at revenue and the products and service offering. Finance is managing all aspects of financial operations, and sales is looking to increase transactions.
In his latest book, marketing expert Andy Brent looks at what aspects of the job a growth director would lead. “The Growth Director’s Secret” starts by slicing across the company to look at the myriad of responsibilities that come with growth – from human resources to finance to marketing.
In his research, Mr Brent found only one company had assigned a global growth officer. Mondelēz International, Inc., is an American multinational confectionery, food, and beverage company with about 83,000 people around the world. Timothy Cofer is Chief Growth Officer.
In this role, Tim oversees the teams responsible for corporate strategy, global categories, global marketing, and research, development and quality. This integrated approach enables Mondelēz International to efficiently allocate resources to the biggest and highest return growth opportunities for its global innovation platforms and Power Brands.
In September 2018, Mondelēz International Chief Executive Officer, Dirk Van de Put outlined the company’s focus on a global growth culture.
“With strong leadership in our categories, an unparalleled portfolio of global and local brands and a solid footprint in fast-growing markets, we are uniquely positioned to lead the future of snacking. We have developed a clear strategic plan to accelerate our growth and drive attractive total returns centered around three strategic priorities: accelerate consumer-centric growth, drive operational excellence and build a winning growth culture.”
The subject of growth is too important to leave to chance – or to assume that each manager will work in lockstep to achieve one goal. To learn how to bring together all facets of growth, come to the next meeting of Asia Insight Circle on Friday, 25 January 2019.
China has assets and cash totaling US$17.41 trillion to support state-led actions to minimise risk and maintain economic order according to CASS, a leading China-based think tank. The assessment comes after China’s Central Economic Work Conference held in mid-December 2018 held in Beijing’s Jingxi Hotel.
“The government has accumulated lots of assets during the economic catch-up” over the past 40 years, “which allows us to handle risk with confidence.” – Zhang Xiaojing, Research Team, CASS – The South China Morning Post
Despite these riches, the government stressed there would not be major economic stimuli, such as used during the 2009 financial crisis, according to China Economic Review. This is despite a “complicated and grim external environment” brought on by a deepening trade war with the US that threatens to decrease China’s predicted growth of 6%+/- y/y.
The end-of-conference press release gave a broad list of areas where the government wants demand to pick up including infrastructure on industrial networks, transportation and logistics, and upgrades to manufacturing equipment.
The meeting was held in Beijing’s Jingxi Hotel that is used only by top party officials for government business. “Ordinary travelers have never been allowed past the 48-year-old hotel’s drab, Soviet-style exterior. The heavily guarded Jingxi is where the Communist Party elite meet behind closed doors to hammer out high-stakes personnel decisions or to map out future policies.” Learn more about this secretive venue in this profile article.
On the eve of Hong Kong FinTech Week, Musheer Ahmed provided members of Asia Insight Circle a preview of the world’s first cross-border financial technology conference taking place in Hong Kong, Asia’s financial capital, and in Shenzhen, China’s Silicon Valley. Some 8,000+ attendees from over 50 countries will meet to preview, share, and discuss technology trends impacting the financial services sector.
Deloitte has ranked Hong Kong fifth in the world among fintech centres, behind London, Singapore, New York and Silicon Valley, but the city’s impressive business culture, high-tech infrastructure, government support and funding, along with a world-class talent pool, are proving attractive to fintechs. (Source: Asia Times)
FinTech Week features over 200 of the world’s top FinTech founders, investors, regulators, and academics, who are shaping the future of financial services by driving a technological revolution in the industry across Asia and globally.
Even those not in financial services benefit from understanding the business shifts underway, said Musheer. He discussed at length the creation of ecosystems bringing together financial services with other industries, whether healthcare of supply chain.
“The emergence of ecosystems marks a shift in the landscape as unexpected alliances are forged, sector boundaries blur, and long-standing strengths count for less. It also marks a shift in how business leaders manage relationships within an ecosystem.” (Source: “Winning in Digital Ecosystems” by McKinsey)
Chief Executive Carrie Lam delivered her second policy address for Hong Kong yesterday. Among the most ambitious initiatives is a plan to create new islands to house 1.1 million people. The 1,700 hectares (or 4,200 acres) will cover 17 square kilometres and will rise from the seabed in an area east of Lantau Island (home to Hong Kong International Airport and Disneyland). The project will cost HK$500 billion dollars (US$63 billion) which is 50% of the current reserves in government coffers. (Yes, Virginia, countries can run surpluses!)
Lantau Island is already being transformed by the soon-to-be-opened bridge linking Hong Kong with Macau and Zhuhai, China. This 39 kilometre (24 mile) over-sea crossing opens is one of the longest bridges in the world. (Learn all the facts on Wikipedia here.) It was developed to expedite integration of the Greater Bay Area – a commerce and technology corridor that is home to 68 million people.
One of the world’s longest bridges spans three countries
Also recently opened is the Hong Kong link to China’s high-speed rail network. The High Speed Rail connects Hong Kong West Kowloon Station with 44 Mainland China rail stations without interchange. That means you can leave Hong Kong at night and wake the next morning in Hangzhou, Shanghai, or Beijing. Since opening in late September an average of 46,000 people per day have crossed into Hong Kong via the new rail service. During recent “Golden Week” holidays visitor numbers to Hong Kong increased 20% from last year – with no major spike at other crossings.
From Hong Kong to 44 cities in China direct
The “Lantau Tomorrow Vision” is another demonstration of the mass-scale planning necessary to secure Hong Kong’s future in rapidly developing Southern China. The land reclamation and other land alternatives will be the focus of the November event at Asia Insight Circle featuring Paul Zimmerman.