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1、INTEGRATING INVESTOR RELATIONS INTERNALLYCase Study, Concepts, and Debatable IdeasKenny OngCNI Holdings Berhadwww.myCNI.com.mywww.OOBEY.com About: CNI1.18 years old2.Core Business: MLM3.Others: Contract Manufacturing, Export/Trading, eCommerce4.Malaysia, Singapore, Brunei, Indonesia, India, China, H
2、ong Kong, Philippines, Italy, Taiwan5.Staff force: 5006.Distributors: 250,0007.Products: Consumer Goods and Serviceswww.myCNI.com.mywww.OOBEY.com IR and its problemsOverview of Corporate Communications and Investor Relations problemswww.myCNI.com.mywww.OOBEY.com How to please Investors (the Dilbert
3、version) 1998 United Feature Syndicate, Inc.How to please Investors (the Dilbert version)1.Buy back shares2.Announce massive cutbacks3.Spin off New DivisionsIronically and Unfortunately, the above prescription is true in real lifewww.myCNI.com.mywww.OOBEY.com Why is UMW favored by Analysts?1.high di
4、vidend yield, 2.low price earnings multiple, 3.buoyant growth outlook; Challenges of Investor Relations1.Stock- vs. Share-holder*2.Public Opinions3.Global operations difficult to explain4.Increasing focus on ecological, social, ethical issues5.Diverged expectations for same issue6.What to do with Ex
5、cessive Cash?1.Superficial changes vs. Fundamental Changes2.Investors depend on hearsay vs. facts3.Share Price Market4.R&D/M.S./HR vs. Investor Expectations5.Opposing Expert viewswww.myCNI.com.mywww.OOBEY.com IR problems“Good news for stockholders can be bad news for other stakeholders.” Gregory Mil
6、ler, Assoc. Prof., Harvard Business School.www.myCNI.com.mywww.OOBEY.com Why integrate IR internally?The unseen effects of Internal Matters on external Investor Relationswww.myCNI.com.mywww.OOBEY.com Principles of Investor Relations1.Long-term relationship2.Consistent and Proactive3.Performance vs.
7、Controllability4.Aligned with operating/strategy position5.One message, Different Emphasis6.Outside-in Intelligence*www.myCNI.com.mywww.OOBEY.com Types of Investors (1/2)InstitutionalFund ManagersCorporationsSovereign FundsVCsNGOsNon-Profit OrgFinancial (Loans)JV PartnersM&ASocial VCsHolding Co.HQ (
8、MNC)Gov. VCsSupply ChainGov. PartnershipPFICompetitorsFranchiseeswww.myCNI.com.mywww.OOBEY.com Types of Investors (2/2)RetailInvestor-ShareholdersEmployee-ShareholdersManagement-ShareholdersCustomer-ShareholdersDistributor-ShareholdersDistributor-Entrepreneurswww.myCNI.com.mywww.OOBEY.com Why do the
9、y Invest?1.Return/Profit2.Risk Management/ Hedging3.Tax-benefits4.CSR/Image5.Diversify revenue6.Counter-cyclical balance7.Support Mission8.Exclusive rights1.Contractual obligation2.National Agenda3.Control Supply Chain4.R&D portfolio5.Control Management6.Alternative Cash Flow7.M&Awww.myCNI.com.mywww
10、.OOBEY.com How do Investors get their INFO? (1/2)InstitutionalGov./PoliticsCustomersSuppliersEconomicsAGMMarket ResearchInternet*Annual ReportMediaAnalystsFund ManagersDue DiligenceNGOsNewsletterSpokespersonswww.myCNI.com.mywww.OOBEY.com How do Investors get their INFO? (1/2)InstitutionalGov./Politi
11、csCustomersSuppliersEconomicsAGMMarket ResearchInternetAnnual ReportMediaAnalystsFund ManagersDue DiligenceNGOsNewsletterSpokespersonswww.myCNI.com.mywww.OOBEY.com How do Investors get their INFO? (2/2)RetailGov./ PoliticsCustomersPublic EventsEconomicsAGMAdsInternet*Annual ReportMediaAnalystsFund M
12、anagersRelativesFriendsPasar MalamEmployeesEmployee BloggersMgmt ActionsNewsletterwww.myCNI.com.mywww.OOBEY.com How do Investors get their INFO? (2/2)RetailGov./ PoliticsCustomersPublic EventsEconomicsAGMAdsInternetAnnual ReportMediaAnalystsFund ManagersRelativesFriendsPasar MalamEmployeesEmployee B
13、loggersMgmt ActionsNewsletterwww.myCNI.com.mywww.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 certifica
14、te. 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, 1977How not to talk to Reta
15、il Investors“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?Acquisition targetLayoffsCostC
16、uttingNew MgmtTreatment of ProfitsConsistencyEcologyEconomicsPoliticsStrategy AlignmentCSR-relatedCrisisTopics?www.myCNI.com.mywww.OOBEY.com What topics interest Investors?Acquisition targetLayoffsCostCuttingNew MgmtTreatment of ProfitsConsistencyEcologyEconomicsPoliticsStrategy AlignmentCSR-related
17、CrisisTopics?www.myCNI.com.mywww.OOBEY.com What Events impact Investors?PoliticsFinancial AnnouncementsShareholdingchangesStructureAccidentsEconomicCrisisCompetitorMovesM&ANew PlansShare-dropEvents?www.myCNI.com.mywww.OOBEY.com What Events impact Investors?PoliticsFinancial AnnouncementsShareholding
18、changesStructureAccidentsEconomicCrisisCompetitorMovesM&ANew PlansShare-dropEvents?www.myCNI.com.mywww.OOBEY.com How to integrate IR internallyThe unseen effects of Internal Matters on external Investor Relationswww.myCNI.com.mywww.OOBEY.com What to Integrate?1. Aligning OrganizationTo the Culture2.
19、 Integrating External& Internal actions3. Alignment and Consistency to the Strategy4. Long-term RelationshipBuilding effortswww.myCNI.com.mywww.OOBEY.com Principles of Investor Relations1.Long-term relationship2.Consistent and Proactive3.Performance vs. Controllability4.Aligned with operating/strate
20、gy position5.One message, Different Emphasis6.Outside-in Intelligencewww.myCNI.com.mywww.OOBEY.com Integrating IR internallyCultureImportanceof I.R.Investor Relations PrinciplesStructureResourcesLeadershipPersonwww.myCNI.com.mywww.OOBEY.com Alignment: FrameworkOperational and Strategic moves have to
21、 consistent with messagesTrust consistency in external-internal messagingVisibility through Culture and MoraleClear Employee rolesOutside-in Intelligence for decision makingCulturewww.myCNI.com.mywww.OOBEY.com The 6 Sins of Greenwashing1.Sin of the Hidden Trade-Off2.Sin of No Proof3.Sin of Vagueness
22、4.Sin of Irrelevance5.Sin of Fibbing6.Sin of Lesser of Two EvilsStudy by: TerraChoice, December 2007Alignment: FrameworkOrg StructureJob DesignC&BPolicies & proceduresDecision makingJob fitManagement SystemsBSC and KPIsDecentralized & EmpowerStructureSpecialists IR in CR topics e.g. Ethics, Ecology,
23、 PoliticsSpokespersonsBusiness Unit reportingShares, C&B schemesIR MRwww.myCNI.com.mywww.OOBEY.com Alignment: FrameworkRole modelingVision/Mission/PhilosophyLeadership StyleDelegation & EmpowermentC&B, PromotionsSense of UrgencySpeak regularly about Strategic and Operational directionLeadershipSpoke
24、spersonsBusiness Unit reportingFundamentals vs. Short-termIR as MR intelligencewww.myCNI.com.mywww.OOBEY.com Alignment: FrameworkRecognitionRecruitmentTrainingProfit sharingValuesMotivationSelf EfficacyAwarenessUseful CompetenciesCareer aspirationsPersonSpecialists IR in CR topics e.g. Ethics, Ecolo
25、gy, PoliticsSpokespersonsBusiness Unit reportingwww.myCNI.com.mywww.OOBEY.com Alignment: FrameworkEnablersTechnologyEquipmentMaterialsHumanIntellectual PropertyPartnersPropertyResourcesFinancial Utilization InvestmentDivestmentDividendsHRBuybacksRestructuringwww.myCNI.com.mywww.OOBEY.com Integrating
26、 IR internallyCultureImportanceof I.R.Investor Relations PrinciplesStructureResourcesLeadershipPersonwww.myCNI.com.mywww.OOBEY.com Integrating Internal/ExternalCommunicationsInternalExternalMgmtDistributorsSuppliersMediaGovernmentPublicAuthoritiesAssociationsUniversitiesNGOsInvestorsProactiveReactiv
27、eProactiveReactiveCOMM ToolsCOMM Toolswww.myCNI.com.mywww.OOBEY.com EmployeesIntegrating Internal/ExternalInternalExternalFeedFeedwww.myCNI.com.mywww.OOBEY.com Integrating Internal/ExternalInternalHalal CommitteeSocial Education (e.g. SCK)Umrah tripChina TripRBOSCFA/HFACoffee VanExternalSponsorshipD
28、onationsNews clippingsNewspaper AdsMHIAwardsCorporate ProfileAGMGov. CelebrityAnalyst researchwww.myCNI.com.mywww.OOBEY.com Integrating Internal/ExternalInternalEntrepreneur Dev.Health productsHealth education“Made in Malaysia”EventsMedia CelebrityExternalWebsiteDSAMYayasanPublish BookSocial Educati
29、onCrisis CommChildren EducationNational interestAnalyst BD connectionswww.myCNI.com.mywww.OOBEY.com Alignment & ConsistencyMamak stallwww.myCNI.com.mywww.OOBEY.com Alignment & ConsistencyThey are the most innovativeConstantly renewing and creativeAlways on the leading edgeA great deal!Excellent/attr
30、active priceMinimal acquisition cost and hassleLowest overall cost of ownershipA no-hassles firmConvenience and speedReliable product and serviceExactly what I needCustomized productsPersonalized communicationsTheyre very responsivePreferential service and flexibilityRecommends what I needIm very lo
31、yal to themHelps us to be a successProduct LeadershipOperationalExcellenceCustomerIntimacywww.myCNI.com.mywww.OOBEY.com Operational Excellence(low cost producer)Ref: The Discipline of Market Leaders, Michael Treacy & Fred Wiersema; 1995Product Leadership(best product)Customer Intimacy(best total sol
32、ution)Alignment & Consistency: Market Disciplineswww.myCNI.com.mywww.OOBEY.com The McPlaybook*Make it easy to eat50% drive-thruMeals held in one handMake it easy to prepareHigh TurnoverTasks simple to learn & repeatMake it quick“Fast Food”Tests new products for Cooking TimesMake what customers wantP
33、rowls market for new productsMonitored field tests*Adapted from: Businessweek , Februrary 5th 2007www.myCNI.com.mywww.OOBEY.com Operational ExcellenceCompetitive priceError free, reliableFast (on demand)SimpleResponsiveConsistent information for allTransactionalOnce and DoneCustomer IntimacyManageme
34、nt by FactEasy to do business withHave it your way (customization)Market segments of oneProactive, flexibleRelationship and consultative sellingCross sellingProduct LeadershipNew, state of the art products or servicesRisk takersMeet volatile customer needsFast concept-to- counterNever satisfied - ob
35、solete own and competitors productsLearning organizationAlignment & Consistency: Disciplines, Priorities, and KPIswww.myCNI.com.mywww.OOBEY.com Operational ExcellenceMove know-how from top performing units to othersBenchmark against best in classEnsure operations training for all employeesUse discip
36、lines like TQM for continuous learning to reduce costs and improve qualityAlignment & Consistency: Market Disciplineswww.myCNI.com.mywww.OOBEY.com Alignment & Consistency: Market DisciplinesCustomer IntimacyCapture knowledge about customersUnderstand customer needsEmpower front line employeesEnsure
37、that everyone knows the customerMake company knowledge available to customerswww.myCNI.com.mywww.OOBEY.com Product LeadershipReduce time to marketCommercialize new products fastEnsure that ideas flowReuse what other parts of the company have already learnedEnsure there are multiple sources of fundin
38、gAlignment & Consistency: Market Disciplineswww.myCNI.com.mywww.OOBEY.com Operational Excellence(low cost producer)Ref: The Discipline of Market Leaders, Michael Treacy & Fred Wiersema; 1995Product Leadership(best product)Customer Intimacy(best total solution)Alignment & Consistency: Market Discipli
39、neswww.myCNI.com.mywww.OOBEY.com Operational Excellence(low cost producer)Ref: The Discipline of Market Leaders, Michael Treacy & Fred Wiersema; 1995Product Leadership(best product)Customer Intimacy(best total solution)Alignment & Consistency: Market Disciplineswww.myCNI.com.mywww.OOBEY.com Summaryw
40、ww.myCNI.com.mywww.OOBEY.com Challenges of Investor Relations1.Stock- vs. Share-holder2.Public Opinions3.Global operations difficult to explain4.Increasing focus on ecological, social, ethical issues5.Diverged expectations for same issue6.What to do with Excessive Cash?1.Superficial changes vs. Fund
41、amental Changes2.Investors depend on hearsay vs. facts3.Share Price Market4.R&D/M.S./HR vs. Investor Expectations5.Opposing Expert viewswww.myCNI.com.mywww.OOBEY.com Principles of Investor Relations1.Long-term relationship2.Consistent and Proactive3.Performance vs. Controllability4.Aligned with oper
42、ating/strategy position5.One message, Different Emphasis6.Outside-in Intelligence*www.myCNI.com.mywww.OOBEY.com How do Investors get their INFO? (1/2)InstitutionalGov./PoliticsCustomersSuppliersEconomicsAGMMarket ResearchInternetAnnual ReportMediaAnalystsFund ManagersDue DiligenceNGOsNewsletterSpoke
43、spersonswww.myCNI.com.mywww.OOBEY.com How do Investors get their INFO? (2/2)RetailGov./ PoliticsCustomersPublic EventsEconomicsAGMAdsInternetAnnual ReportMediaAnalystsFund ManagersRelativesFriendsPasar MalamEmployeesEmployee BloggersMgmt ActionsNewsletterwww.myCNI.com.mywww.OOBEY.com What topics int
44、erest Investors?Acquisition targetLayoffsCostCuttingNew MgmtTreatment of ProfitsConsistencyEcologyEconomicsPoliticsStrategy AlignmentCSR-relatedCrisisTopics?www.myCNI.com.mywww.OOBEY.com What Events impact Investors?PoliticsFinancial AnnouncementsShareholdingchangesStructureAccidentsEconomicCrisisCo
45、mpetitorMovesM&ANew PlansShare-dropEvents?www.myCNI.com.mywww.OOBEY.com What to Integrate?1. Aligning OrganizationTo the Culture2. Integrating External& Internal actions3. Alignment and Consistency to the Strategy4. Long-term RelationshipBuilding effortswww.myCNI.com.mywww.OOBEY.com Dont forget“The business of business is Business, not Investor Relations” www.myCNI.com.mywww.OOBEY.com Thank You. soft copy of slides: http:/
