Creating And Advocating A Logistics Technology That Can Save Lives

Creating And Advocating A Logistics Technology That Can Save Lives

Life’s meaning is sometimes elusive; you seek it but you cannot find it. But, at times, you chance upon its meaning accidentally. It was the fate of Salvador “Buddy” Silva Jr. III that he found meaning after his father died from a car crash. Grieving had pushed him not to despair but to inspiration. A logistics expert, Buddy thought of a system that will help people how to drive on the road safely and efficiently. With a team of software engineers, he created a total logistics control system that will track a company’s assets – its people and vehicles. “If we devote all our passion and creative minds on how we can standardize safety in every corner, straight or curved streets in highways, we can save more lives and help our community, country and perhaps, the world to avoid such destructive loss of loved ones brought by a sudden and tragic death from a vehicular accident,” he says. Sharing technology Losing his father led Buddy to find a solution that would help companies monitor people on the road, their exact location, their directions and other vehicles. His system called Safesat GPS tracking system – which he now shares with companies – ensures the safety of people and vehicles by tracking their whereabouts 24 hours a day, seven days a week. With its vibration sensor and accelerometer, Safesat can inform the motorist if he overspeeds, hits the brakes or accelerates harshly, also if there’s fuel theft and change of route. This helps the motorist drive safely and lessens fuel consumption, resulting in increased productivity and savings. “I realized that technology is all about...
Molding Successors To Be Responsible Financial Leaders

Molding Successors To Be Responsible Financial Leaders

“Train up the child in the way he should go and when he is old, he will not depart from it.” (Proverbs 22:6) To paraphrase Peter Parker, “With great wealth comes greater responsibility.” In life, parents have the responsibility to train their children to become responsible and productive members of society. In case of a family business, the current leadership has the task to provide the training and education to the heirs. Aside from right tools to run a business, it is also quite important to train the successors the responsibilities in the personal finances. In a study, 80 percent of the parents interviewed said children learn the concept of savings in school while 80%of students mentioned that all things they learned on savings came from their parents. Therefore, the home is an important venue for children to learn the basics of saving, investing and budgeting. In this regard, the younger generation would appreciate and be more proud of the family’s history and tradition.Moreover, this would serve as a driving force for them to strive harder and commit to the family business. There is a bigger challenge for parents to teach children the value of savings in the age of credit cards. Karen Vascoe, Ph.D Consumer Economics Specialist at the University of California Cooperative Extension, pointed out parents’ failure to communicate with the children the value of money is turning them to be financially irresponsible individuals. Above all, teaching children financial maturity at a pre-school age is the key to develop them to be responsible wealth managers. It can start by teaching them grocery shopping, doing bank transactions and paying...
Live, Work and Play in a mall by the Sea – SM Seaside City in Cebu

Live, Work and Play in a mall by the Sea – SM Seaside City in Cebu

Today malls are not only places to stroll, shop and dine, they have become places to work and reside, especially if they’re located near the sea. A mixed-used development, SM Seaside City opened last month, publicly listed SM Prime Holdings, Inc. (SM Prime) owned by Henry Sy disclosed to the Philippine Stock Exchange (PSE). SM Prime is one of the leading integrated property companies in Southeast Asia, and SM Seaside City is the company’s 56th mall in the country and the third mall in Cebu. The two malls are SM City Cebu and SM City Consolacion. The new mall provides 430,000 square meters (sqm) in gross floor area, expanding SM Prime’s total retail space to 7.3 million sqm in the Philippines. It is located within the SM Seaside Complex at the South Road Properties (SRP) in Cebu City. SM Seaside Cebu is the first of its kind in urban development in SRP as it promises to revolutionize the malling experience in Cebu and the whole Southern portion of the Philippines. “We are inspired by the success of our Mall of Asia Complex in Pasay City, the first lifestyle city project or mixed-use development that offers retail, residences, offices, hotels and convention centers,” said Hans T. Sy, SM Prime president, in the disclosure. “We are replicating this concept of lifestyle cities in Cebu as we open the SM Seaside City. We see Metro Cebu as one of our important growth corridors in Visayas and Mindanao following our growth track in Metro Manila,” he said. Cebuanos will have a new experience in urban living as the mall offers lifestyle options in...
Building a Successor

Building a Successor

Many say leaders are made. Although an individual may possess the potential and capability to be a leader, he or she will still need the preparation and training to develop his or her potential. This also holds true in a family business. The leader of a family business must develop the successors to enable the family enterprise to operate even though the founder has retired or gone to the Great Beyond. Although it is not a 100 percent guarantee that one of the children can be an excellent business leader, it is still worth the try to train the next generation of business leaders in a family enterprise. Training the right leader is not difficult as cleaning the Aegean stables. The founder of the family business will need the right techniques, practices, time and dedication. There are no cutting corners as far as empowering an individual is concerned. Here are some of the following principles that can be considered to start the training to become mature leaders. Train the potential successor to be role model of financial accountability by giving him or her exposure in financial literacy. The older generation can expose them to more advanced topics such as accounting, auditing, investment, trading, among others. Teach them to network with friends, colleagues, business partners and employees to establish rapport. This will be beneficial in the long run. Encourage the potential successors to be active in business-related matters in their academics. Give them the best education possible. Encourage the successor to work outside the business for at least five years to hone their skills and experience. For a start, provide...
Crafting a Succession Plan in a Family Business

Crafting a Succession Plan in a Family Business

A lot of family businesses fail in the long run mainly because it did not have a solid succession plan. Moreover, it faltered for the main reason there was nobody calling the shots and implement the solutions needed to put the business back on the right track. Succession and ownership transition of a family business must embody a high degree of professionalism. In developing a business decision, it is better to get the technical knowledge of professional advisers such as a succession coach and an accountant to help the family members in analyzing the possible scenarios and alternatives about the business. The advisers and the family members must work together as a team to develop the succession roadmap. Furthermore, the family must appoint a point person who will work with the coach and the accountant. The role of the point person is to disseminate the news whether it’s good or bad and listen to the different views of the family members. The need for a succession planning should be family consensus. The present leadership must also be aware that other members will also be giving their time and effort to the process. Family members belonging to the next generation must speak out and articulate their interest to succeed. It is also suggested that interested parties must express their interest early because developing a successor takes a lot of time. After they are done with the succession laws, the next procedure for family members is to ask them if they all agree with the laws on succession. Members of the family business must seriously practice responsible ownership and governance. As owners, family...