CNI人力资源精品之投资者关系INTEGRATINGINVESTORRELATIONSINTERNALLY

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, chin

2、a, hong 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 d

3、ilbert 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

4、?1. high dividend 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.

5、 what to do with excessive cash?7. superficial changes vs. fundamental changes8. investors depend on hearsay vs. facts9. share price market10.r&d/m.s./hr vs. investor expectations11.opposing expert viewswww.mycni.com.mywww.oobey.com ir problems“good news for stockholders can be bad news for othe

6、r stakeholders.” gregory miller, 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 a

7、nd proactive3. performance vs. 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 pa

8、rtnersm&asocial vcsholding co.hq (mnc)gov. vcssupply chaingov. partnershippficompetitorsfranchiseeswww.mycni.com.mywww.oobey.com types of investors (2/2)retailinvestor-shareholdersemployee-shareholdersmanagement-shareholderscustomer-shareholdersdistributor-shareholdersdistributor-entrepreneursww

9、w.mycni.com.mywww.oobey.com why do they invest?1. return/profit2. risk management/ hedging3. tax-benefits4. csr/image5. diversify revenue6. counter-cyclical balance7. support mission8. exclusive rights8. contractual obligation9. national agenda10.control supply chain11.r&d portfolio12.control ma

10、nagement13.alternative cash flow14.m&awww.mycni.com.mywww.oobey.com how do investors get their info? (1/2)institutionalgov./politicscustomerssupplierseconomicsagmmarket researchinternet*annual reportmediaanalystsfund managersdue diligencengosnewsletterspokespersonswww.mycni.com.mywww.oobey.com h

11、ow do investors get their info? (1/2)institutionalgov./politicscustomerssupplierseconomicsagmmarket researchinternetannual reportmediaanalystsfund managersdue diligencengosnewsletterspokespersonswww.mycni.com.mywww.oobey.com how do investors get their info? (2/2)retailgov./ politicscustomerspublic e

12、ventseconomicsagmadsinternet*annual reportmediaanalystsfund managersrelativesfriendspasar malamemployeesemployee bloggersmgmt actionsnewsletterwww.mycni.com.mywww.oobey.com how do investors get their info? (2/2)retailgov./ politicscustomerspublic eventseconomicsagmadsinternetannual reportmediaanalys

13、tsfund managersrelativesfriendspasar malamemployeesemployee bloggersmgmt 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

14、serve such point prior to the effective date of the certificate. 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

15、thereto.”civil aeronautics board, 1977how not to talk to retail 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”

16、what topics interest investors?acquisition targetlayoffscostcuttingnew mgmttreatment of profitsconsistencyecologyeconomicspoliticsstrategy alignmentcsr-relatedcrisistopics?www.mycni.com.mywww.oobey.com what topics interest investors?acquisition targetlayoffscostcuttingnew mgmttreatment of profitscon

17、sistencyecologyeconomicspoliticsstrategy alignmentcsr-relatedcrisistopics?www.mycni.com.mywww.oobey.com what events impact investors?politicsfinancial announcementsshareholdingchangesstructureaccidentseconomiccrisiscompetitormovesm&anew plansshare-dropevents?www.mycni.com.mywww.oobey.com what ev

18、ents impact investors?politicsfinancial announcementsshareholdingchangesstructureaccidentseconomiccrisiscompetitormovesm&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

19、.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 principles of investor relations1. long-term relationship2. consistent an

20、d proactive3. performance vs. controllability4. aligned with operating/strategy position5. one message, different emphasis6. outside-in intelligencewww.mycni.com.mywww.oobey.com integrating ir internallycultureimportanceof i.r.investor relations principlesstructureresourcesleadershippersonwww.mycni.

21、com.mywww.oobey.com alignment: framework operational and strategic moves have to consistent with messages trust consistency in external-internal messaging visibility through culture and morale clear employee roles outside-in intelligence for decision makingculturewww.mycni.com.mywww.oobey.com the 6

22、sins of greenwashing1. sin of the hidden trade-off2. sin of no proof3. sin of vagueness4. sin of irrelevance5. sin of fibbing6. sin of lesser of two evilsstudy by: terrachoice, december 2007alignment: framework org structure job design c&b policies & procedures decision making job fit manage

23、ment systems bsc and kpis decentralized & empowerstructurespecialists ir in cr topics e.g. ethics, ecology, politicsspokespersonsbusiness unit reportingshares, c&b schemesir mrwww.mycni.com.mywww.oobey.com alignment: framework role modeling vision/mission/philosophy leadership style delegati

24、on & empowerment c&b, promotions sense of urgency speak regularly about strategic and operational directionleadershipspokespersonsbusiness unit reportingfundamentals vs. short-termir as mr intelligencewww.mycni.com.mywww.oobey.com alignment: framework recognition recruitment training profit

25、sharing values motivation self efficacy awareness useful competencies career aspirationspersonspecialists ir in cr topics e.g. ethics, ecology, politicsspokespersonsbusiness unit reportingwww.mycni.com.mywww.oobey.com alignment: frameworkenablers technology equipment materials human intellectual pro

26、perty partners propertyresourcesfinancial utilization investment divestment dividends hr buybacks restructuringwww.mycni.com.mywww.oobey.com integrating ir internallycultureimportanceof i.r.investor relations principlesstructureresourcesleadershippersonwww.mycni.com.mywww.oobey.com integrating inter

27、nal/externalcommunicationsinternalexternalmgmtdistributorssuppliersmediagovernmentpublicauthoritiesassociationsuniversitiesngosinvestorsproactivereactiveproactivereactivecomm toolscomm toolswww.mycni.com.mywww.oobey.com employeesintegrating internal/externalinternalexternalfeedfeedwww.mycni.com.myww

28、w.oobey.com integrating internal/externalinternal halal committee social education (e.g. sck) umrah trip china trip rbos cfa/hfa coffee vanexternal sponsorship donations news clippings newspaper ads mhi awards corporate profile agm gov. celebrity analyst researchwww.mycni.com.mywww.oobey.com integra

29、ting internal/externalinternal entrepreneur dev. health products health education “made in malaysia” events media celebrityexternal website dsam yayasan publish book social education crisis comm children education national interest analyst bd connectionswww.mycni.com.mywww.oobey.com alignment &

30、consistency mamak stallwww.mycni.com.mywww.oobey.com alignment & consistencythey are the most innovativeconstantly renewing and creativealways on the leading edgea great deal!excellent/attractive priceminimal acquisition cost and hasslelowest overall cost of ownershipa no-hassles firmconvenience

31、 and speedreliable product and serviceexactly what i needcustomized productspersonalized communicationstheyre very responsivepreferential service and flexibilityrecommends what i needim very loyal to themhelps us to be a successproduct leadershipoperationalexcellencecustomerintimacywww.mycni.com.myw

32、ww.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 the mcplaybook*make

33、it easy to eat 50% drive-thru meals held in one handmake it easy to prepare high turnover tasks simple to learn & repeatmake it quick “fast food” tests new products for cooking timesmake what customers want prowls market for new products monitored field tests*adapted from: businessweek , februra

34、ry 5th 2007www.mycni.com.mywww.oobey.com operational excellencecompetitive priceerror free, reliablefast (on demand)simpleresponsiveconsistent information for alltransactionalonce and donecustomer intimacymanagement by facteasy to do business withhave it your way (customization)market segments of on

35、eproactive, flexiblerelationship and consultative sellingcross sellingproduct leadershipnew, state of the art products or servicesrisk takersmeet volatile customer needsfast concept-to- counternever satisfied - obsolete own and competitors productslearning organizationalignment & consistency: di

36、sciplines, priorities, and kpiswww.mycni.com.mywww.oobey.com operational excellence move know-how from top performing units to others benchmark against best in class ensure operations training for all employees use disciplines like tqm for continuous learning to reduce costs and improve qualityalign

37、ment & consistency: market disciplineswww.mycni.com.mywww.oobey.com alignment & consistency: market disciplines customer intimacy capture knowledge about customers understand customer needs empower front line employees ensure that everyone knows the customer make company knowledge available

38、to customerswww.mycni.com.mywww.oobey.com product leadership reduce time to market commercialize new products fast ensure that ideas flow reuse what other parts of the company have already learned ensure there are multiple sources of fundingalignment & consistency: market disciplineswww.mycni.co

39、m.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 operational exc

40、ellence(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 summarywww.mycni.com.mywww.oobey.com challenges

41、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?7. superficial changes vs. fundamental changes8. investors depend on hearsay vs. facts9. share price market10.r&d/m.s./hr vs. investor expectations11.opposing expert viewswww.mycni.com.mywww.oobey.com principles of investor relations1. long-term relationship2. consistent and proactiv