Day: February 9, 2021

Practicing strategy in an uncertain world

Kristian Ebbesen Fjelde and his team knew that the executive committee meeting scheduled in mid-2019 to discuss the future strategy of their company was more important than most. Equinor had changed its name in May 2018 from Statoil to signify that it wanted to become a more diversified energy company and take a leading role in the long-term goal of transitioning out of fossil fuels. Equinor was Norway’s biggest energy producer, and its leaders understood that the structural shifts in the market necessitated a radical shift in the business that would require more than a simple rebranding. Instead of putting together a presentation, Fjelde decided to run a “strategic beliefs” card game. His team circulated 16 statements, each describing what might become a core belief of the company. They covered everything from the direction of commodity prices to the impacts of climate change. The executives were asked to reveal one

SME lender Funding Societies expands to Thailand, Garage

FUNDING Societies, a digital financing platform for small and medium enterprises (SME) in South-east Asia, has launched in Thailand – its fourth market in its six years of operations.

The platform will operate under a debt-crowdfunding licence given by Thailand’s Securities and Exchange Commission (SEC), the SME lender said on Tuesday in a press statement.

The expansion comes after more than a year of working with Thai regulators and planning for market entry, it added.

Funding Societies said it is prepared to provide Thai SMEs with full access to its short-term customisable financing solutions, funded by retail and institutional investors.

Its crowdfunding solutions will offer a new avenue for Thailand’s retail investors to diversify their portfolio from other asset classes. Investors can expect investment opportunities with interest rates of 8-13 per cent per annum.

Funding Societies’ expansion to Thailand will also allow