Ladies and Gentlemen,
Welcome to Eway!
It is truly a pleasure for me to be here to share my thought. Ed, you will be missed. I all wish you the very best, and I look forward to corporate closely with you to ensure a smooth and effective transition. I will also continue to draw upon your wealth of international experience and look to you for counsel on specific business issues well into our life.
Today I’m here not for sharing biz plan, transaction flow or not to sum up our biz activities of billion revenue result, etc. as I did in many shareholders meetings in some groups before, but I will draw upon the wealth of international experiences and the specific business issue of our life. The concept I call “The Inflection Point” is that important decision I made to Turn Left to be Right and to do something different for our stakeholders to grow to the next level at event a faster rate.
If we look at some examples:
- We may all known the pyramid of innovation from Apple: Creativity (people) – Ideas (Culture) – Innovations (Processes) – New biz (partners) – $$ (Network) that make Apple become the #1 innovative company in the world as iPod, iTunes, iPhone, iPad and more.
- Intel was faced with either staying with old chip-making technology, or changing the way it made microchips. That was their inflection point. They changed to accommodate new technology and went on to be the dominant chip maker in the world.
- American Express, who was being challenged by Visa and Master Card, originally did not realize they had reached an inflection point, but over time they responded to the challenge and they made a come back but not without paying the price of lost customers.
- IBM faced an inflection point with the invention of PCs. Their original response was “we’re Big Blue, we don’t have to respond.” But as you know, once Compac, Dell and others began to erode their market, they responded quickly. Or the like with Nokia to Apple.
- Finally Microsoft who saw the internet as their inflection point quickly turned around and put great emphasis on the internet and has thrived.
So what does all this mean to Eway? We not only find new ways to do old things, but go on to find best way to do new things!
If we continue on the track we’re on, we may become a good company, but never great. We have decided as a company that we can never be satisfied, never rest on our laurels and never be content – we need to do more. To achieve this growth rate, we’re spending a great amount of time and resources on finding out what those services are “To become the most trusted and valued brand leader of personal and biz solutions”
- People – we will need to continue to recruit and retain a highly motivated organization.
- Service Quality is key – as we move into providing new services, we need to be the best at providing those new services while keeping our core products’ service quality at top levels.
- Building Brand Equity – every new service we sell will reinforce our core values
- Distribution is also key – as we move into providing multiple services we must be sure all of our distribution sources can handle them by Top partner with in-country partners who will be our local experts
- New Product Development will fuel the increased growth that we hope to achieve. Looking at the experience of companies like Apple or Facebook who spend a great deal of time here, we know that it takes 40 ideas to launch one successful product.
Ladies and Gentlemen, Success is no accident. “It’s possible to fails in many ways and succeed in some ways … while to be champion is possible only in the Best Way”. I always creative ways to make the New happens Newer, Good to Great and to be Better than the Best. That is the reason why our company named King Horse has renamed as Best Way Corporation – EWAY. I always think so what’s next? How can we make the best even better? To act “Turn LEFT to be RIGHT” as our slogan and to “Building on the Best” … I like that theme because it captures the challenge ahead for us all. Building on the best requires energy, enthusiasm and commitment. It demands a whole new level of fresh thinking and re-defining our biz. Because in a world where new services increasingly touch every aspect of our daily lives. It’s apparent that Eway is not only doing the right things but also doing a lot of things right. We will be the most admired group in region as seen by our stakeholders. We improve the quality of people’s lives through the timely introduction of meaningful service innovations. Well, that’s the challenge of our leadership. We need to understand what global consumers want, and why they want it, we can achieve the unimaginable. Therefore, the things we should know:
- Most company executives have good ideas, but most of the ideas are never successfully put to use because of the inability to convert the idea into a successful strategy.
- Most strategies that are successful in the beginning deteriorate over time.
- Most strategies lose effectiveness because of change.
Most recently, as top level of some companies, I refined my own management skills by developing a more balanced perspective of the relationship that exists among strategic growth, resource allocation, and leadership development across all functions of an organization. And I intend to draw upon that perspective in my new position as Chairman and President of Eway. As working and traveling in the U.S., European and Asian countries, I consider myself to be an internationalist. I respect the relationship between local culture and strong consumer orientation … I understand the power of world class advertising, and grassroots marketing at the community level. During my career, I’ve been fortunate to be involved in exciting global initiatives … starting a new venture division organization; turning around a mature business in VN, that required tough decisions on restructuring and changing the business model, and acquiring and assimilating international acquisitions. I know global distribution and understand the importance of building, recognizing and rewarding the stars. Because no matter how terrific our product is, the distribution quality is key to getting it to the consumer. We are the eyes and ears of this organization. Partners are our direct line to international consumers. Our senior team will be aggressively attacking three immediate issues that will create change and drive better results. First, how can we improve our stakeholders focus, which means being much more responsive on a local level; Second, what organizational changes need to take place in order to drive decision making to those closest to the consumer, and third, a plan to accelerate technology advances that are key to our future success.
I’m delighted with the strong management support offered and the entire Eway Management team. Eway is committed to conducting business and making decisions honestly, ethically, fairly and within the law. We are also dedicated to earning and keeping the trust and confidence of our shareholders, customers, dealers and employees. It is critical to the continued success of our corporation.
That’s BUILDING ON THE BEST! We are building an Eway brand through superior value.
I look forward to meeting each of our shareholders, partners and customers during the time ahead. Thanks for corporations, … and thanks for making me feel welcome and confident at Eway!
I’d like to leave you with a thought from ancient Roman philosopher and orator, Cicero, “Let us not go over the old ground. Let us rather prepare for what is to come.”
Dr. Nguyen Tuyen