Monday 04th September, 2006

ILO to reduce poverty through the ‘decent work decade’ Worker, employer and government leaders reward of honest hard work, that’s what peo- ment, social protection and social dialogue. “We are convinced that the ILO’s Decent meeting for national and regional action are: ing labour/management cooperation and concluded the 14th Asian regional meeting of ple want.” “We resolve to ensure that Asia continues Work Agenda can contribute to a sustainable ratification and respect for core labour stan- strengthened labour inspection and employ- the International Labour Organization (ILO) by Conclusions adopted by over 400 govern- to provide global policy leadership in making route out of poverty, assist in addressing the dards; ment services; launching an “Asian Decent Work Decade” ment, worker and employer delegates at the decent work for all a central objective of our growing economic inequalities both within and sustainable productivity growth and eco- gender equality and action to meet the aimed at linking the goal of decent work with ILO meeting said that the region’s member relevant national and international policies as between countries in the region, and thus, nomic competitiveness; needs of vulnerable workers; the global poverty reduction agenda. States would “commit to an Asian Decent well as our national development strategies,” make an important contribution to the decent work opportunities, especially in the extended coverage of social protection; The delegates, representing Asian, Pacific Work Decade—for the period up to 2015— the conclusions said. achievement of the Millennium Development informal economy and rural areas; improved occupational safety and health. and Arab ILO member States also committed during which we will make a concentrated and The conclusions noted that the ILO’s Goals,” the conclusions said. “The Decent support services for small and medium Every four years, the ILO Asian Regional to promoting “tangible” policy measures to bet- sustained effort to progressively realize decent Decent Work Agenda has become integrated Work Agenda also enables progress towards sized enterprises: Meeting brings together the political, econom- ter ensure that economic growth translates work in all countries of our diverse continent.” into the national agendas of many countries, a fair globalization in which the goals of eco- education, training and lifelong learning for ic and social actors from some 29 Asian and into productive employment and decent work Delegates said the Decent Work Decade as well as the international development agen- nomic efficiency and social equity are well- employability; the Pacific and 11 Arab member States of the for all. could also make an important contribution to da. balanced.” decent work opportunities and access to ILO. At the invitation of the Government of the “Our focus is enhancing productivity, com- the achievement of the Millennium Delegates strongly endorsed the Outcome In addition the delegates said initiatives to entrepreneurship for young women and men, Republic of Korea, the ILO Fourteenth Asian petitiveness and growth” said Juan Somavia, Development Goals, which aim to reduce Document of the UN World Summit in 2005 bolster the ILO’s Decent Work Country along with measures to combat child labour; Regional Meeting was held in Busan, Republic Director-General of the ILO. “The answer isn’t poverty by the year 2015. The Decade will pro- and the Ministerial Declaration of the high- Programmes at the regional level should be improved dialogue on all aspects of labour of Korea from 29 August to 1 September 2006. charity, giveaways or handouts. The best mote the ILO’s Decent Work Agenda which level segment of the UN Economic and Social encouraged. migration; The overall theme of the 14th AsRM was social program is a decent job. The dignity and stands on the pillars of rights at work, employ- Council (ECOSOC) in July 2006. Amongst the priorities identified by the effective labour market governance includ- Realizing. How to improve the NPD Process and speed of HSBC to expand in innovation in organisation Central America An agreement has been entered into operates through 72 branches in El By Prasanna Perera with Grupo Banistmo S.A. (‘Banistmo’), Salvador. necessarily a bad process, offerings, in For example product the leading banking group in Central At 31 December 2005, Banistmo had instead, it is a question of how terms of factors, which are champions who have own- America, to make a tender offer to total assets of US$6,973 million and New product development this process is managed. important to consumers. ership of new product acquire all the outstanding shares of shareholders’ funds of US$695 million. and innovation are the “life Rothwell in the 1970’s pro- ideas. Banistmo, for cash. The transaction val- It made a profit after tax1 of US$115 mil- blood” of any business. These What steps can be vided the following reasons, h) Organization structures ues Panama-based Banistmo at lion in 2005. At 31 December 2005, are integrated activities, which taken to manage the which were attributed to new must be flexible and practi- US$1.77 billion. Banco Salvadoreño had total assets of are strategic in nature. In this new product devlop- product success. cal. The Banistmo group’s principal area US$1,778 million, shareholders’ funds information age, the ability to a) Greater attention was paid i) The establishment of clear of operation is Panama but the group of US$160.45 million and made a profit relentlessly innovate, is the ment process belter? to marketing targets, budgets for NPD also has a significant presence else- after tax2 of US$16.9 million during the prime requirement to secure a The ultimate objective of a b) The persons involved in activity. where in the region where HSBC does not HSBC Group Chairman, year. competitive advantage, which new product development NPD held senior manage- The Sony Corporation already operate, providing a solid platform Stephen Green Stephen Green, Group Chairman of is sustainable. What is New process is to provide an organi- ment positions and had sig- proudly announces that for future growth. HSBC Holdings plc, said: “We are delighted to have Product Development? This is zation a steady flow of new nificant authority. “Dreaming is the most impor- Banistmo owns 99.39 per cent of Panama’s largest reached agreement to acquire control of the leading a process through which organ- products, so that it is in a posi- c) A higher than average tant work at Sony”. What does bank, Primer Banco del Istmo (‘Banco del Istmo’), banking group in Central America. This is the culmina- izations identify,evaluate and tion to meet the changing understanding of con- this mean? Dreaming is the which offers a full range of personal, commercial and tion of two and a half years’ work examining the region introduce products, to satisfy needs of its target consumers. sumer needs. process through which product investment banking services through 42 branches. and choosing our partner. the needs of its chosen market The reality is that organiza- (Profound understanding of ideas bear fruit. Often these The Banistmo group also owns the country’s largest “This exciting development will give HSBC a strong segments. What is a new prod- tions are called upon to develop consumer needs) product ideas at Sony,culmi- insurance company, Compania Nacional de Seguros presence across a fast growing economic region uct? Booz, Allen and Hamilton and launch new products in a d) The services of external nate in innovations such as the (‘Conase’). which, with the ratification of the Central American provide us a useful framework. shorter time frame. As such, specialists were utilised. Walkman, Discman, Handycam These operations in Panama will complement Free Trade Agreement (‘CAFTA’), has encouraging They identify six categories of there is a need to enhance the and many more. HSBC’s existing presence in the country, where prospects. It will allow us to expand into new markets, new products, namely, speed of the new product devel- What are the reasons HSBC’s wholly owned subsidiary, HSBC Bank in a region of 83 million people, including Colombia, 1. New-to-the world products. opment process. The following for the “Failure” of new The twelve lessons of (Panama) S.A., provides services to personal and cor- and in which large sections of the population do not (New products that create steps help in this regard. products? innovation success porate customers through 19 branches. currently have bank accounts. an entirely new market) a) Parallel processing – It may The Banistmo group also has a significant pres- “We look forward to welcoming Banistmo’s cus- 2. New product lines be possible to conduct cer- Two pieces of research It is important to identify ence across Central America, providing a full range of tomers to HSBC. Banistmo will bring us significant 3. Additions to existing prod- tain activities concurrently. clearly stand out. Hlavacek, in the sorts of factors which personal and commercial banking services through a market share and growth opportunities in all markets. uct lines (New pack sizes, This will help speed up the the U.S.A. found the following inhibit innovation. By recog- further 106 branches in Costa Rica, Honduras, We have little overlap except in Panama, and we flavours etc) entire process. reasons in the organizations nizing them and working to Colombia and Nicaragua. Additionally, in February expect to benefit from the scale and knowledge that 4. Improvements to existing b) Omit certain steps - All the that were not successful in overcome them, organizations 2006, Banistmo completed the acquisition of a 56 per Banistmo brings from operating in the region. This products steps are not required in their product development will be able to create struc- cent stake in Inversiones Financieras Bancosal SA, acquisition will enable us to better serve the needs of 5. Repositioning (Existing certain instances. activities. tures, processes and most the holding company for Banco Salvadoreño which our regional and international customers.” products that are targeted Therefore, you must have a) Inadequate market size importantly,the culture in to new markets or market the experience, to judge b) Distribution problems which innovation has a great segments) what is required and what c) Internal conflicts opportunity to flourish. Book on condominium 6. Cost reductions (New prod- is not. d) Impatience on the part of Lesson 1 - Persevere and do ucts that provide similar c) Multi-functional teams - marketing staff not be disheartened by fail- performance at a lower By taking people from dif- e) Poor market research and ures concept launched cost) ferent functions proj- lack of consumer knowl- Lesson 2 - Shout and celebrate What is innovation? The ects tend to go smoothly edge cooper in his study of success. term innovation means differ- and a balanced viewpoint is Canadian firms found the Lesson 3 - Revisit old ideas A book titled “Understanding Ownership Law and comes ent things to different people. obtained. following reasons for new with new eyes. the Concept of Condominiums” into existence with the registra- The reality is that innovation d) Customer involvement - product failure. Lesson 4 - Avoid bureaucratic based on the Apartment tion of the Semi or complete is a far broader activity. Bring in customers early a) The absence of detailed structures and hierarchies. Ownership Law of Sri Lanka Condominium property. It fur- Essentially,innovation is about into the process. This market studies Lesson 5 - Break old estab- written by Attorney-at-Law Ms. ther explains the rights and changing established products, could be done by having b) Poor test marketing efforts lished rules and procedures Ajithaa Edirimane, was obligations of both condomini- processes and practices. It customer involvement, in c) Inappropriate launch Lesson 6 - Develop open lines launched recently at the Sri um owners and Management must blend clear thinking, cre- multi- functional activities of communication and Lanka Foundation . Corporations by referring to ativity and the ability to get teams. Therefore, a common ele- share ideas. Ajithaa Edirimane presenting decided cases from jurisdic- things done into one process. e) Strategic direction - New ment can be found from both Lesson 7 - Truly and profound- her book at the launch said that Author of ‘Understanding the Concept of tions in developed countries The judgement on innovation product development, as these studies, namely,a poor ly understand the customer. it would be a good reference tool Condominiums’ Ms. Ajithaa where this concept has been is passed by the marketplace. stated earlier is a understanding of consumer Lesson 8 - Do not rush to for all those who are involved in Edirimanegiving the first copy to the tried and tested successfully It is also important to note that strategic activity.As such, needs and market trends. advertise break through. condominium properties, not only Chief Justice Sarath N. Silva. and the laws are constantly innovation creates the environ- it must be treated that way (Your competitors can out- as developers, owners or amended to suit the require- ment for successful product and provided How to develop an smart you) Managing Agents but also as citizens who yearn to ments of condominium dwellers whilst keeping with development. We now being to with a strategic focus. innovatory culture in an Lesson 9 - Work to overcome have a harmonious and conducive environment in the needs of the society as a whole. The Appendix to see the linkage between new f) Knowledge management - organization the “not invented here” suc- multi storey buildings which are slowly but surely this Chapter contains a set of model by-laws. Whilst product development and inno- Knowledge within a busi- cess. (This basically changing the landscape of urban Sri Lanka. the Act provides a set of statutory by-laws that bind all vation. ness organization Innovation will prevail kills innovation) This book is based on the Apartment Ownership condominium dwellers and Management can be an important ingre- only in organizations which Lesson 10 - Learn from fail- Law of Sri Lanka, that is the principal enactment No. Corporations, for proper management of condomini- The new product dient for the success of new have a suitable culture. The ures and do not punish fail- 45 of 1982 and its subsequent amendments, ending um properties Management Corporations have a right devlopment process product development culture of the organisation ures. with the current Act No. 39 of 2003. The foot notes to implement such additional rules and regulations activities. However, this must foster and enhance the Lesson 11 - Appoint product carry references to particular sections to assist those which do not contravene the statutory By-laws. Irrespective of what catego- experience must be har- “innovative spirit”. Take for champions and recognise readers who would need to refer the provisions of the Chapter 3 covers enforcement of by-laws and dis- ry of new product is developed, nessed effectively. example the Sony that they can come Act. pute resolution, which is an area that all condominium a process is required to ensure Corporation of Japan, which from anywhere in the The Introduction to the book explains as to how the owners should be familiar with as disputes do occur in new product development What are the reasons is acknowledged as one of the organization. condominium concept first came into existence during all communities, leave alone condominium properties. activities. for the “Success” of most innovative organizations Lesson 12 - Empower staff and the Roman Empire and its development through the Chapter 4 addresses Association Management and It is commonly understood new products? in the world. What can we avoid imposing central ages, especially in America where it became increas- covers the holding of general meetings of that the new product develop- learn from Sony, towards the thinking and direction. ing popular as a means of addressing the lack of Management Corporations, passing of special and ment process comprises the fol- Important lessons can be development of an innovatory housing for urban dwellers. unanimous resolutions of condominium owners, with lowing stages. learnt by examining the culture? Conclusion Chapter 1 is devoted entirely to the creation of con- the Appendix giving checklists for conducting such a) Idea generation research a) Senior Management is NPD and Innovation are dominium properties with explanations on the three meetings. b) Idea evaluation findings attributable to new fully committed to new activities which involve risks. types of condominium properties that are recognized Chapter 5 refers to financial issues that should be c) Concept development and product success. Given below product development There risks should be min- under the new Apartment Ownership Act No. 39 of generally known to all condominium owners, such as testing are some insights, provided by b) NPD is a special activity. imised by managing the new 2003. That is; Provisional Condominium Properties, the mandatory payment credited to the Management d) Business evaluation the market research firm, A.C. The necessary expertise product development process (basically condominium properties limited solely to Fund, which is referred to as ‘Contribution’. The e) Product development Nielsen. must be acquired, if efficiently. Without taking cal- paper), Semi Condominium Properties (which are Management Corporation depends on the f) Test marketing a) The product must be of not available. culated risks, nothing concrete partly completed condominium properties) and com- Contribution from condominium owners for proper g) Commercialisation demonstrably higher quali- c) Teamwork is essential and can be achieved. The final pleted Condominium Properties. In order to assist management and maintenance of the Common This process has its advan- ty than competitor must be encouraged reward for organizations that those involved in registering the different types of con- Elements of the condominium property. The aspect of tages, but also has serious offerings. d) Acceptance that all new are “truly innovative” is a con- dominium properties, the Appendix to Chapter 1 con- revisions and cessations of condominium properties is drawbacks. The major draw- b) Care should be taken to ideas will not succeed. tinuous flow of excellent prod- tains checklists of the documents that are necessary addressed in Chapter 6. backs are it is slow, time con- guard against distribution Failure must be accepted ucts, that provide competitive for the registration of each type of a condominium Chapter 7, will be of interest to all those who are suming and has a knock-on hiccups, particularly and learnt from. advantages, which are both property and a specimen Deed of Declaration. This keen to purchase condominiums either for living or for effect i.e. each stage is depend- in the early stages. e) Applaud success and learn sustainable and meaningful in Appendix also contains a specimen Progress Report investment. This Chapter also looks at the responsibil- ent on the earlier stage. For c) It should not be too far from it. the eyes of customers. that is now required to be filed with the Condominium ities of Developers of condominium projects, which is example the evaluation of ahead of time. (The prod- f) The necessary funding “Who should ultimately Management Authority during the construction stage an area that has not been adequately addressed by ideas are carried out only after uct must not be too must be provided for NPD design the product? The cus- of Provisional Condominium Properties. our own local laws. In contrast, especially in devel- the ideas are generated. This futuristic) activity tomer of course” Chapter 2 explains the functions of a Management oped countries, the obligations of Developers are sequential approach to new d) The product must compare g) NPD champions should be “Innovate of die. The Corporation, of which all owners of condominiums are clearly spelt out in the laws governing condominium product development is not favourably with competitor recognised and rewarded. choice is yours” members. It is a body created under the Apartment properties.

Monday 04th September, 2006