30 years of experience in 3 points

Someone asked me to summarise the key features of my 30 years of experience in developing the business of NTUC Income.

I like to cover them in 3 key points:

* Business strategy
* Entrepreneurial approach
* Efficient management

I adopt a business strategy that recognises the realities and strengths of NTUC Income. We are a cooperative society that aims to give better value to our policyholders. We act accordingly and communicate this distinctive feature to our policyholders. Over the years, we build a base of loyal customers.

I adopt an entrepreneurial approach. I act promptly and have a nimble behaviour. I learn and adapt from the results. By trying many times, I am able to find a better way. I am also able to learn how to do things better for the future.

I focus on efficient management - how to improve efficiency, reduce wastage, and keep the cost low. I learn how to make the best use of the available resources. I adopt technology to improve efficiency and reduce the cost. I find a way to reduce the cost of technology, and increase the cost savings.

Some top managers are detached from the business. They tend to manage on theory, rather than have a good feel of the business.

If we look at many large businesses, you will find that those businesses with a CEO that is in touch, tend to perform much better.