MBA vs C.Secretary

1) Cost

MBA - $28K (4 installments) with discount of $1.8K for early bird.
Chartered secretary - $5,880 for 4 modules but exclude association fees.

Conclusion: CS is obviously the winner. For MBA, the co does sponsor but there is a 2 yr bond that sucks big time. Alternatively, I could apply for the sponsorship and pay when I exit the co.

2) Duration

both 2 years - of course assuming that all exams & requirements are met.

Conclusion: equal.

3) Level of commitment

CS: Courses begin in July or Jan of each year. 15 weeks of classes, once per week for each module. This would last for about 4 mths.

MBA: Courses begin in Oct or April of each year. 3 mths of more intensive classes - 1 or 2 per week with some wkends (say 5 out of 12) burn. Exam in the 4th mth.

Conclusion: CS requires lower level.

4) Recognition

CS: recognised worldwide.
MBA: Usually depends on ranking. This MBA is top 100 or top 50 in 2 categories. Treble accreditation. So quite ok.

Conclusion: both quite recognised.

5) Career growth

CS: Most CFOs undertake the CS responsibility as well. Snr FM or FM, sometimes are also tasked with this. A good upgrade if one remains in the Accounting role.

MBA: Provide a broader perspective to consider issues and more structured training of mgmt skills. Gives ability to cross over to mgmt when opportunity arise (assuming that one wants).

Conclusion: both provides good upgrade ability.

6) Current circumstances

young kid, not quite sure whether to stay further in the co or to switch. Switching will likely provide better pay but a new environment. Currently, considered a regional controller but the package is not that great. For short-term, may be a good idea to move but the move will lead to uncertainty but also opportunities. Any move should be to a regional role or a listed company, otherwise considered a set back in the career development. A lot depends on the proposal from the co this year, which will only be confirmed in Oct/Nov.

If take CS:
lower level of commitment (time and cash), better able to deal with another kid if comes along.

If I decide to leave this year, I could check if the new company provide sponsorship for the MBA and I could take that after completing the CS requirements. Big savings. The downside is that those help from the insiders will not be so prompt. Slightly more expensive, as there is further discount for applicants employed under the current company.

If I decide not to leave this year and I take the CS. Just mean that I delay my MBA ambition further by 2 years.

If take MBA:

If I decide to leave this year, I would need to pay back whatever the co has paid on my behalf, lesser discount. Can't ask new co to sponsor, even if they have the benefit. Location may take longer to reach school. Wife got to be supportive, especially if next kid comes along.

If I stay and take MBA, bigger discount and if I leave after completion of MBA, either pay back prorated or earned out the sponsorship. same with the next kid thing.

Logical conclusion

To take the chartered secretary course because, given the high probability of the next kid coming along, I need to be around to help, even how little it may be. This allow me to continue to develop, given the constraint on time and cost. No harm for MBA to wait further. Also, given the uncertainty whether I'm going to stay, this represents the logical conclusion.

The risk is of course, I end up staying more than 2 years and I kick myself for failure to seize the sponsorship from the co. I will have to bear with this for the rest of my life.

The reason why the MBA should not be taken is because, given the high probability of the next kid coming along, wife & myself will be stressed to take care of both. If I stay, life could be better given the familiarity but if new job is undertaken, further stress because need to impress and build goodwill in the new job. If I stay and complete, I can pad myself on the shoulder that a gd decision taken but if I leave, then there's whole load of shit - new pressure, pay $, next kid.

Corporate Politics - Chapter 2 (Days after)

So EB departs...

During the time when she was servicing notice, some of her closer allies warned her that I could be a spy for BH because, I'm close to her. That I could be fishing information from EB to feed BH. To me, this was all nonsense because, what is there that BH should not know? These information belong to the company and should be passed on, for the sake of the company.

Anyway, EB began to distance herself from me and appeared guarded. In a way, I was quite sad because, I always thought that we had a healthy relationship and she would not listen to such rumors.

EB left for a few months without much impact, except for the shakeup that follows BH due to her different style of management. Like I mentioned before, it's either you are with her or not with her. When EB came to the company, she brought along, few of her allies - SMK, L, JT who held important positions in the company. So after a few months, when she had settled herself in the new company, she poached SMK, L and JT and other staff to join her.

This is the part that disappoint me the most. As a professional, when you leave the company, you leave, why would you want to incite or instigate others to join you. It was totally unprofessional, where I'm concerned. Hence, SMK, L and JT joined her over the next few months. In turn, SMK and L tried to get others to join them. Some did and some didn't.

Corporate Politics - Chapter 1 (The Spark)

I joined the company about four years ago. The recruitment process consists of 3 separate interviews and EB was one of the 3 interviewers, while nosey was another. This explains why I liked EB initially, as she gave me the impression that she was easy-going and easy to get along. To be objective, during her tenure here, it felt like that, until her announcement to leave.

It all started about a year back where we were trying to approve the purchase by a particular customer, from an exotic country (i.e not your usual USA, UK, Malaysia customers), which exceeded her authority to approve. Hence, it went all the way to the corporate office for consideration. The answer came back - No. The risk was too much for the company to stomach given it's recent issues with collections. Of course, she wasn't please given her lack of power to turn this around. We went back to the customer to turn down the order initially, but later on, the sales person managed to convince the customer to pay certain % in advance and I managed to convince the corporate office to proceed with the sales. But alas! damaged was already done. EB was pissed and couldn't take the red tapes, which were hidden under the name of corporate governance.

Further, in the recent internal audit review, her unit failed the assessment during to various reasons. The above were the 2 known reasons for her departure.

To me, to make such a big decision to leave the company, given her status here was a big step, the above 2 may not be the only reasons for her to leave for a competitor.

Corporate Politics - The Cast

CEO

- I don't know much about him to comment alot. Basically, pluck from head office to run the show. He had been in the reign for 5 to 6 years but was unable to prove his worth. Recently, there had been immense rumors that he is ready to pack his bag.

This was supported by witnesses of shredding of documents and moving things away from his office. Reminds me of the Enron case but I think this does not come near. My limited exposure with him tells me that he is basically a likeable person but did not do enough to harness teamwork from his management team, resulting in lack of cohesiveness to deal with operational problems, which of course lead to poor performance and his imminent departure.

BH

In charged of Business Group G. One whom I'm closer to. She is as dedicated a worker that a company can ever get. She puts in at least 12 hours per day for the company and has the company's interest at heart in her daily dealings. She was recruited by the CEO to assist him and was rumored to be a distant relative of the CEO. This was never confirmed as I didn't bothered to ask.

She is known to be a slave-driver but rewards appropriately. Basically, she expects her co-workers to be as dedicated as her. She is also loud, with regard to the way she conduct herself - you can hear her miles away. As a person, a likeable character as well, but only when you are used to her way of things. She can be mean if she does not think highly of you and she does not hide her feelings.

EB

Was in charged of Business Group E. EB was someone whom I've liked before her departure. Her departure was sudden to say the least. During my interaction with her, I've found her to be sincere and easy-going. She departed to join a competitor and the reasons given were rumored to be because she can't take the heat from the auditors who failed her assessment and she couldn't take the rigidness of the system imposed by head office. All those rules and bureaucracy hidden underneath the big term - Corporate Governance.

These did not cause me to dislike her. It was what happened next. Apparently, she pouched several of her closer allies from the company to the competitor and till this day continue to call existing staff to lure them away. She also called the director of the head office (another of the cast) and spreaded bad/untrue information about her successor (BH). All these from one whom I thought to be sincere and easy-going. I should re-examine my assessment skills which failed in this case.

NKOB

Someone who was the head of a small company within the Business Group E. He was 'upgraded' to operate a bigger company when BH was asked to assist CEO for Business Group E with EB's departure. NKOB did not get along with BH because the stlye of leadship differs. I can't comment which style is better but NKOB's style is less open while EB was more above board.

I didn't like NKOB because he is one who throws his weight around especially to staff of lower rank than him. This I was told by some victims. He also tried to influence reporting of financials by making use of his knowledge in the accounting matters. He does not like to engage his co-workers but choose to work in isolation, only engaging when requesting for information. Where strategies are concerned, a close door policy is adopted.

Nosey

He recruited me when he was a senior member in my company. Subsequently, he got promoted to head office and eventually became a director there. He had some bad blood with EB who opposed him in several occassion during Nosey's tenure here. It does not help that Business Group G was not performing well after a few years, owing to downturn in the economy.

Corporate Politics - Introduction

This represents one of the things that I hate most because it is a waste of time and enemies often arose out of it.

Unfortunately, it's common in most work place and is most prevalent in the upper echelon of management.

However, from an optimistic perspective, it allows one to understand the parties involved in these episodes better with regard to their characteristics and also what it means to be 'each for themselves'. Apparently, the Chinese culture recognized this ages ago, as depicted by this well-known verse - (人不为自，天诛地灭) translated as "if one does not think for himself, he suffers eternal perdition".

Recently I witness this in my workplace.

The Cast:

- An underperforming CEO ("CEO")

- A Business head who tried very hard (successful in certain aspects) ("BH")

- A New Kid on the Block who is trying to impress (aka "NKOB")

- A Ex-Business head who disappoint all (where I'm concerned) with her departure (EB)

- A head office director who pokes his nose in the subsidiary group affairs too much ("Nosey")

Introduction

Background

1) Stage

This company that I'm in, is considered fairly large with diverse interests in different areas (will not divulge further, otherwise too obvious. Anyway, this is not the main point). Several years back, the head office decided that there are values to be extracted from my company and decided to acquired 100% of its shares, making it a wholly-owned subsidiary. With this acquisition, they ousted the old management (through the passage of time) and injected their own management (newly recruited and existing) to the subsidiary.

To be continued.....

Still on MBA

I have sort of decided to go with the Executive MBA program from University of Strathclyde because of its flexibility and focus on strategy. With regard to cost, it is also affordable. for name sake, it is ranked 48 in 2004 for executive programs.

I'm also trying to see how much I can gather from my employer...keeping my finger crossed that some positive news will come in soon.

Walk The Line

I watch the above DVD over the weekend. What a great show!

The story is about Johnny Cash and June Carter. Johnny was a singer (country/Western) who started out his career during the same era as Elvis and the Beatles while June was his eventual wife, whom he met during his early tours.

The movie started with Johnny and his brother sharing some good times together, but his brother got killed during an accident, where he was working part time in a saw-mill. Obviously, their dad, sort of like blame Johnny for the accident and this haunted Johnny throughout the film.

Johnny started out his singing career when he picked up courage to approach a record producer for audition. Once he started, he never looked back. Before the marriage with June, he married Vivian and had 3 kids (If I remembered).

Well, Johnny had a thing for June because, he heard June over the radio since young and meeting her was like a dream come true. During tours, he fell in love with her, although June was married and had a girl.

Their love story was not straight-forward, both of them were married when they met. However, June didn't have a good husband and eventually divorce him. Johnny thought he had a chance but June decided not to go with him, probably because of social pressures (cradle snatcher).

During his career, he got hooked up with drugs and eventually got caught for trafficking. Since then, his career went downhill. June also remarried some bum but divorced again (or the bum walked out on her). After his release from prison, Johnny couldn't stop thinking of June and continue to show his love even to the extent of trying to put up their photos in his home. Vivian couldn't stand this and walked out on him. I guess no woman can.

Johnny lost everything during this donw-hill period but eventually, thanks to June, manage to pick himself out of the drug-abuse. He relaunched his career with a live recording record in the Folsom prision, which reportedly, sold millions of copies.

During one of his tour, he proposed to June and their married.

They were happy ever after.

A great story, one of the best I've seen. It was also good to see a happy ending for a singer, which I think is rare, given the tragedies of Elvis, Beatles etc.

Lazy day - Friday

Today is a lazy day.

As usual many items to follow up - budget review, valuation exercise to feedback on, dealing with operational issues etc.

Well, 'tis the life of a corporate accounting manager. At least I'm away from the monthly closing hassle, but not away from the monthly review hassle though. don't think that, that is going to go away, as long as I stay in this line.

Thought about being in the food industry, not as a restauranteur but as a hawker selling perhaps western food. Singaporeans love deep fried stuff, healthy they may seem or want to be known for. but deep down inside, deep fried food! But may not be too healthy for me because I heard that cooking is not good if one wants to have children as the heat from the cooking is not conducive for the sperms.

Think got to go off already. The silly server chose to be down at this hour, again!

Well, thk god it's friday.

MBA?

Actually I got it wrong, he was away in spain for holiday. Well, he deserved it, after all, financial yr end is round the corner and shit is on its way.

this 2 days being really 'mind-ploding' with the selection of MBA and also whether really to embark or not. today, I finally decided and requested for a sponsorship form from the company. Hopefully, the company sponsor and I can save a bomb. alas, there is a bond. Now, waiting for the information to arrive before taking the next step.

was thinking that I should pen down my appreciation of the various accounting standards so that they serve as a point of reference, but hell lot of work...pondering...