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First of all on trusting instead of controlling.
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The formation of our visualization hub in itself. I find was an
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outstanding proof of trusting instead of control. Why do I say that
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well it took us only 4 months to get basically the green light from
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our headquarter without piles of business plans and thousands of
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signatures at the end of the day. It came down to a simple shakehand
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agreement between my boss showcase and me with that. Here's the
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funding made something reasonable out of it and.
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Do the best for our house, so basically this extremely lean approval
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process, which I have not seen in 30 years before.
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Brought something up like well, we can call it an ownership feeling
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amongst all of us so we do not consider this digitalization up here in
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Singapore is something pill from the headquarter where we allowed to
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work or something like that. It's our hub. So we make sure that the
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whole thing will fly and it will groom going forward as.
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Next one on encourage risk taking on entrepreneurship to explore new
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business opportunities. I give you a little story on segments to make
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the point here, some 30 years ago. Siemens miss Mister very critical
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technical opportunity. Because out of missing. This entrepreneurship
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and risk taking attitude. There was a start-up with just invented
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telephone E via the Internet.
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And they approached our house. I wanted to know whether we guys would
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be interested to invest in their company. You have to know that at
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that Time Team. Simmons was market leader in digital telephone E
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probably out of these dominant market position came on very, very
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arrogant answer? Why would we invest in your company in your startup
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1st. We do not believe that telephone E via the Internet. Internet
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will ever work has not done so, so far and if so, most likely.
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We would have invented it on our own well. It turned out that this
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we're probably famous last words be cause within a decade our
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telecommunication business went down the drain.
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And finally we had to exit the market also you have to know that
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telecommunication business at that time account. It 25 percent to our global
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revenues and even more so in the profit forgot to mention the name of
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the company, it was Cisco.
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I can tell you lesson learned from us, we do everything to avoid that
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in the future. We constantly encourage our employees to take certain
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wrists and we constantly engage engaged and encourage them to be an
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entrepreneur to push boundaries and find new ways to do things and
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this is how at the end of the day we clinched a very important
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contract recently reams from lend authorities Here in Singapore.
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Together with our consortium partners. St engineering, electronics, we
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were awarded the 18.8 million dollar.
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Contract to develop and implement the rail Enterprise Asset Management
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System Reams. It will integrate asset information across the entire
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MRT system so that operating assets health can be consistently
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monitored and maintained predictively.
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Means couple years ago with something not there yet. We probably would
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have given an obit in such a very important. Serjik important order
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because it's not available. If we have no reference. But with this new
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attitude. This digital mentality. So to speak. We were out in the
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market finding partners to accomplish our capabilities and then in the
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second stage to Co create with a customer together this solution.
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Lesson learned for me encourage entrepreneurship much beyond risk
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taking is a must have in this digital world.
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3rd essential that I believe strongly in empowerment instead of
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limiting. Let me show you too. Nice examples what happened in the
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digitalization up from Siemens, where we empowered the people and
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bought a rose out of that there was last year. One of our very
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ingenious colleagues who on his own had developed a mobile mobile
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application basically to bring together customers with service
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providers. So he shared this nail. It was definitely not much more
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than a concept if at all with his boss's boss was excited that OK
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sounds cool. Sounds fitting to the actual time. Let's show it to
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Armin. And seek for the funding so they went to Maine. I asked my
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typical nothing questions. I will never do away with that the answers
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were near less sufficient. However, we found it's cool the only remark
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I made. I don't know how the hell should. We should ever make money
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out of that approach. But it's so cool and somehow convincing. I think
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we gonna sponsor that so we gave our blessing. The solution was
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developed in the next couple of months and then later on.
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Piloted and launched in the market it's called Swift.
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And it was a very, very successful launch over year ago and Singapore
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and some customers are on that platform a completely new way to do the
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business. It's basically a resource management tool for customers to
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order services. It retains all the information on related service jobs
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and offers a bird. I view on diploid contractors. We know that it was
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the right way to empower the people and go ahead with it. Another
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example in the same manner, which I like very much.
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Is a so called semen stitches fest 2018? Which was basically a
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hackathon and I was really astonished about the amount of people
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partners big, big names from the market that brought together together
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with students from the University. Here, who tried out their algorithm
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on data Analytics. First time with a bunch of data we have given to
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them. Let's move through the 4th essential, which is inspiring leaders
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coach instead of instruct today's digital workforce is made up largely
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of Millennials, who have a different work culture from baby boomers
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like myself or the so called Gen X Millennials have these can do
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attitude. There, like permanent challenges want to have the personal
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impact in the process and very importantly, they want to be mentored
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in coached rather than instructed.
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They want to basically look up to their bosses learn from their
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experience and want to have permanent feedback. I've never seen a
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bunch of folks who are so feedback hungry and these young guys in our
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workforce today. But I want to make you aware of another initiative.
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We have created here initiative, which is called reverse mentoring
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personally, I found this initiative, very, very fruitful and in the
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last 6 months. I'm personally mentored by a 27 year old employee,
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she's just. 3 years with the company and she shares with me. How
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Millennials stick how they receive our strategies and actions and how
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I can better reach out to them.
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Out of a Millennials perspective, she's such as new ways of doing
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business and have a how to be really effective and refreshing in the
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strategies. Inspiring leaders need to lead by presents too. I find
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especially more important in this digital world cyber world. So to
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speak, which I consider a little bit anonymous. It's always easier to
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inspire when you can see even you can be seen touched and felt and
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when you are there and give a Pat on the shoulder or cheer with the
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team. So I hope that you personally find a lot of success and
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inspiration in your leadership churning the digital 1 going forward. I
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did allot. It keeps me extremely motivated engaged and feel a little
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bit younger 2. Thank you very much.