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CURRENCY BUYING

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US Dollar 59.9 60
Bahrain Dinar 158 158.1
Canadian $ 50.85 50.95
Euro 70.75 70.85
Hong Kong $ 7.65 7.7
Japanese Yen 0.508 0.51
Kuwaiti Dinar 204 204.1
UK Pound 103.7 103.8
Last updated: Friday 23 Dec, 2005-12.30 P.M (PST)

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3 DAYS FORECAST
In oC

CITIES MIN MAX

HUM%

FOR.

KARACHI
Today 12 26 38 Sunny
Tomorrow 11 27 38 Sunny
Day after 11 28 38 Sunny
LAHORE
Today 1 20 87 Sunny
Tomorrow 2 20 87 Sunny
Day after 2 21 87 Sunny
ISLAMABAD
Today 0 18 59 Sunny
Tomorrow 0 18 59 Sunny
Day after 0 21 59 Sunny
HUM%: Humidity In %
FOR.: Weather Forecast
updated: Fri - Sun 23-25 Dec, 2005

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KARACHI         - 021 LAHORE          - 042 ISLAMABAD    - 051 FAISALABAD   - 041 MULTAN          - 061 PESHAWAR    - 0521 CANADA          - 1 KUWAIT           - 965 INDIA               - 91 IRAN                - 98 U.K                   - 44 U.A.E                - 971 U.S.A                - 1

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  LEADERSHIP & MANAGEMENT.

By SYED ATIF ALI
Dec 12 - 18, 2005

IDENTIFYING THE FUTURE

The important thing is to identify the "future that has already happened."

Futurists always measure their batting average by counting how many things they have predicted that have come true. They never count how many important things come true that they did not predict. Everything a forecaster predicts may come to pass. Yet, he may not have seen the most meaningful of the emergent realities or, worse still, may not have paid attention to them. There is no way to avoid this irrelevancy in forecasting, for the important and distinctive are always the result of changes in values, perception, and goals, that is, in things that one can divine but not forecast.

But the most important work of the executive is to identify the changes that have already happened. The important challenge in society, economics, politics, is to exploit the changes that have already occurred and to use them as opportunities. The important thing is to identify the "future that has already happened" and to develop a methodology for perceiving and analyzing these changes. A good deal of this methodology is perceiving and analyzing these changes. A good deal of this methodology is incorporated in the book Innovation and Entrepreneurship, which shows how one systematically looks to the changes in society, in demographics, in meaning, in science and technology, as opportunities to make the future.

ACTION POINT: Identify the major trends in your market that have already appeared. Write a page on their likely longevity and impact on your life and organization.

MANAGING FOREIGN CURRENCY EXPOSURE

Foreign exchange risks make speculators out of the most conservative managements.

Old and amply tested wisdom holds that unless a company's business is primarily the trading of currencies or commodities, the firm inevitably will lose, and heavily, if it speculates in either. Yet foreign exchange risks make speculators out of the most conservative managements.

Executives will have to learn to protect their enterprises against several kinds of foreign exchanges risks: losses on sales or purchases in foreign currencies, and loss of sales and market standing in both foreign and domestic markets. These risks cannot be eliminated. But they can be minimized or at least contained. Above all, they can be converted into a known, predictable, and controlled cost of doing business not too different from any other insurance premium by the use of hedging and options. 'Internationalizing' the company's finances is also the best-perhaps the only-way in which a purely domestic firm can protect itself to some degree against foreign competition based on currency rates.

ACTION POINT: Protect your business against foreign-exchange risk by hedging your exposure.

BUSINESS WISDOM

Advertising isn't a science. It's persuasion. And persuasion is an art.
BILL BERNBACH, American advertising expert and co-founder of Doyle Dane Bernbach Advertising. Attrib.

Good advice is beyond price.
LATIN PROVERB.

Ambition is a hard task-master.
ANON.

Perhaps the biggest responsibility of any corporation is to own up when it makes a mistake.
LEE IACOCCA, American automotive industry leader, former CEO of Chrysler Motors, and director of several other auto manufacturing companies, and author.

The more things change, the more they remain the same.
ALPHONSE KARR, French journalist and author.

Man is still the most extraordinary computer of all.
JOHN F. KENNEDY, American statesman, and 35th President of the United States of America.

Manners require time, as nothing is more vulgar than haste.
RALPH WALDO EMERSON, American philosopher, poet and essayist.

Creative minds have always been known to survive any kind of bad training.
ANNA FREUD, Austrain-born British psychoanalyst, youngest daughter of Sigmund Freud and founder of Child Psychoanalysis.

Those who can't do it themselves teach it, or become critics.
ANON

I try to create an environment in which others make decisions. Success means not making them myself.
RICARDO SEMLER, Brazilian industrialist.

Failures are steps in the ladder of success.
JAMES ALLEN, American theologian and author.

I have nothing to declare except my genius.
OSCAR WILDE, Irish playwright, poet, author and wit.

Plain dealing is praised more than practiced.
ENGLISH PROVERB.

Every setback is the starting point for a comeback.
ANON.

A wise man will make more opportunities than he finds.
FRANCIS BACON, British statesman, philosopher and essayist.

After climbing a great hill, one only finds that there are many more hills to climb. I dare not linger, for my long walk is not yet ended.
NELSON MANDELA, South African leader.

Progress is man's ability to complicate simplicity.
THOR HEYERDAHL, Norwegian ethnologist, adventurer and author.

The buyer needs a hundred eyes, the seller not one.
ITALIAN PROVERB.

 
 

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