Business Partners | March-April 2013 by Raymond Matera Publishing

BUSINESS

bponline.amcham.gr

MARCH-APRIL 2013 Vol. XII | No. 65

Thought Leaders

Ideas for a Better Tomorrow The WorkPlace

Leading in the Human Age ▼

The World of Work

Women in Leadership ▼

EU-U.S.

Free Trade for Global Growth ▼

Chamber Launches Breakthrough Greece ▼

Plus Biz Buzz Names & Faces Trends & Trade Makers

AMERICAN-HELLENIC CHAMBER OF COMMERCE www.amcham.gr

Car Insurance. Online. Direct. Hellas Direct. Emilios Markou & Alexis Pantazis

Founders, Hellas Direct

A dynamic Chamber website, Breakthrough Greece promotes innovative and successful Greek companies and entrepreneurs to a global audience.

The site is a window to the world showcasing the best Greece has to offer.

Visit us at

www.breakthroughgreece.gr Like us on Facebook

An initiative of the American-Hellenic Chamber of Commerce AMERICAN-HELLENIC CHAMBER OF COMMERCE

Volume XII | Number 65

CHAMBER.PRESS ISSN 1109-4990 CODE: 6526

CHAMBER.PRESS

contents

AMERICAN-HELLENIC CHAMBER OF COMMERCE bponline.amcham.gr

AMERICAN-HELLENIC CHAMBER OF COMMERCE

4 THE BOARD

6 Chamber News 1 0 In Profile

Chamber Companies on the Move

1 2 Start-Up

Starting a Business—Vitalizing Your Startup by Anastasia Anastasopoulou

Alexis Pantazis and Emilios Markou, founders of Hellas Direct, on selling car insurance online.

1 3 Collaboration@Work

Failure and Innovation Are Close Cousins by Stavros Messinis

1 4 Names & Faces in the News 1 6 MarketPlaces

Going Digital, Staying True, at Ianos

1 8 BIZ BUZZ

Currents in Today’s Business Environment

2 0 Connect America Greece@USA

Anastasia Anastasopoulou, Recruiter at Accenture S.A., gives advice on one of the most important tasks in a new company—bringing on talent.

2 1 TRAVEL USA

Discover America—Maine

2 2 Techno Logia

Fast Stories in the Internet Age

2 4 The Interview

Alexis Pantazis and Emilios Markou, founders of Hellas Direct

2 6 Thought Leaders Ideas for a Better Tomorrow

Rodi Kratsa-Tsagaropoulou, Member of the European Parliament discusses implications of a new trade pact between the EU and the U.S.

3 6 The WorkPlace

Leading in the Human Age

3 8 The World of Work

Randstad Workmonitor: Women in Leadership

Busi n ess Pa rt n e rs is the bi monthly maga z ine o f t h e Ame r i ca n - H e lleni c Cha mber of Co mm erce DIRECTOR Elias Spirtounias e.spirtounias@amcham.gr PUBLISHER & EDITOR Raymond Matera materay@ath.forthnet.gr Please Recycle

ADVERTISING Raymond Matera materay@ath.forthnet.gr

OWNER American-Hellenic Chamber of Commerce Politia Business Center 109-111 Messoghion Avenue 115 26 Athens Tel: +30 210 699.3559 Fax: +30 210 698.5686-7 E-mail: info@amcham.gr

BRANCH OFFICE 47 Vassileos Irakleiou Street DESIGN 546 23 Thessaloniki snack• Tel: +30 2310 286.453, 239.337 Fax: +30 2310 225.162 PRINTING & BINDING Northern Greece Publishing S.A. E-mail: n.tsavdaroglou@amcham.gr

4 0 Leadership Tales From Ancient Greece An Apple for Sparta

by Artemios Miropoulos

4 2 TradeMakers

EU-U.S.: Free Trade for Global Growth by Rodi Kratsa-Tsagaropoulou

4 4 Trends & TrAdE Makers 4 6 Business2Business A B2B Toolbox

4 8 Viewpoint

Embracing Big Data

MARCH-APRIL 2013 | BUSINESS PARTNERS |

DIRECTOR’S DESK

The recent agreements by Hewlett Packard and Philip Morris in Greece, in addition to other recent initiatives such as the launching of the new innovation center—the second in Europe—by Procter & Gamble, indicate a growing and promising investor interest toward Greece. They are important since they help in developing and promoting greater confidence in the Greek economy and create jobs at a time when unemployment has reached unacceptable levels—with dangerous social consequences. Many investment funds have been eyeing Greece recently and examine and evaluate those parameters relative to investment. Such parameters are not only tax rates and labor costs, which are not the most important prerequisites for stable and sustainable investment, but include those that promote a stable, friendly, and transparent investment environment. These, coupled with the undeniable advantages of our country in key sectors such as agriculture, energy, tourism, transportation, and health, combined with our strategic geographical location, highly skilled labor and cultural heritage, should make Greece one of the top investment destinations in the world. But even at this juncture, where good, long-term investors are seeking countries with an attractive and propitious investment environment, there are still many unsolved problems, seemingly held in mid-air, that undermine this great prospect. One of these issues is the unexcused delay of the repayment of debts the state owes its suppliers, many of whom are foreign multinational businesses. In a period where liquidity is lacking in the market, this policy of late payment of debts is doubly harmful. This is especially unacceptable since there is a provision in the Memorandum for the repayment of these debts through the loan payments. In addition, since March 15 of this year, the European Directive requiring EU Member States to pay their debts to their suppliers within 30 to 60 days is in force. This problem has created deep concern and frustration for both large and small businesses, many of which are foreign, and which are the ambassadors of investment in this country. Other negative issues are the special levies imposed on businesses and the unstable fiscal framework that prevents investors and businesses to properly budget expenditures. This has been problem for years yet the State and political parties in general fail to agree on a framework that will create stability and reliability. This, coupled with the huge delays in trial proceedings of business disputes, is a main constraint to investment initiatives. The Chamber has advocated repeatedly for these issues to be resolved. We will continue to do so, since sustainable growth depends on stability, credibility, and reliability. Elias Spirtounias Executive Director

The American-Hellenic Chamber of Commerce A Dynamic, Proactive Chamber The American-Hellenic Chamber of Commerce was established in 1932 and is one of the largest, most active, and dynamic American Chambers in Europe. Virtually all American companies that do business in Greece and Greek companies that engage in trade with the United States are members of the Chamber. The Chamber's membership is comprised of more than 1,000 proactive companies that seek to expand business horizons, create new business partnerships, and take advantage of trade and investment opportunities in today's global economy. The American-Hellenic Chamber of Commerce is an active mem-

| BUSINESS PARTNERS | MARCH-APRIL 2013

ber of the U.S. Chamber of Commerce in Washington D.C. and the European Council of American Chambers of Commerce (ECACC).

Mission Statement The American-Hellenic Chamber of Commerce strives for continuous improvement of American-Hellenic commercial and financial relations, through increased membership and through the organization of top-quality events, exhibitions, fora, seminars, and congresses on both sides of the Atlantic.

American-Hellenic Chamber of Commerce Executive Committee

Committees

Gramatidis Yanos President | BAHAS, GRAMATIDIS & PARTNERS

Auditors Committee

Kyriacou Marios T. Vice President | KPMG CERTIFIED AUDITORS A.E. Bakatselos Nikolaos Vice President | PYRAMIS METALLOURGIA A.E. Karayannis Angelos Secretary General | KARAYANNIS K. GROUP OF COMPANIES Panayotopoulos Litsa Treasurer | BOSTON HAMILTON LTD. Anastassopoulos Simos Counselor | PETSIAVAS N. S.A. Bacacos George Counselor | BACACOS P. CHEMICAL & PHARMACEUTICAL PRODUCTS CO. S.A. Charalambous Odysseas Counselor | CISCO SYSTEMS HELLAS S.A. Papadopoulos Thanos Counselor | CHEVELLAS S.A. Spirtounias Elias Executive Director

Board of Directors Ahmed Pervaiz | BRISTOL-MYERS SQUIBB A.E. Alexopoulos George | HELLENIC PETROLEUM S.A. Antoniades Vassilis | THE BOSTON CONSULTING GROUP Antonopoulos Constantinos | INTRALOT S.A. - INTEGRATED LOTTERY SYSTEMS AND SERVICES Canellopoulos Paul | AIG Greece S.A.

Members: Felonis Athanassios, Papakosmas Dimitrios, Sabatakakis Kyriacos | Coordinator: Andriana Chadjianagnostou

Corporate Governance Committee

Chair: Papacostopoulos Constantinos | Members: Charalambous Yiangos, Dimou Ioannis, Petalas Apostolis, Siamishis Andreas, Hadjisotiriou Paula, Theodoulidou Maria | Coordinator: Daphne Constantinidou

Corporate Social Responsibility Committee

Chair: Stavridis Stelios | Members: Alexiou Maria, Constantelis George, Lolas Vassilis, Vrachatis Ioannis | Coordinator: Angela Boyatzis

Greek Economy Conference Committee

Chair: Kyriacou Marios | Members: Anastassopoulos Simos, Antoniades Vassilis, Bacacos George | Coordinator: Angeliki Dikeoulia

Innovation, Education & Entrepreneurship Committee

Chair: Panayotopoulos Litsa | Members: Darda Dimitra, Farmaki Teresa, Lelakis George, Makios Vassilios, Makridakis Spyros, Papadakis Georgios, Patakiouti Maria, Pateraki Evangelia, Persidis Andreas, Pilitsis Loukas, Printzos Michael, Raptopoulos Manos, Rizopoulos Yannis, Tsangos Christos, Tsiboukis Antonis, Tsigos Dimitris, Tsoukalis Alexandros | Coordinator: Katerina Tzagaroulaki

Insurance, Social Security & Labour Matters Committee

Chair: Kremalis Konstantinos | Members: Andriopoulos Stavros, Canellopoulos Paul, Christidou Agni, Kollas John, Koussia Venetia, Lisseos Panayotis, Lysimachou Triantafyllos, Mihos Stathis, Oikonomopoulou Antouaneta, Panagiotou Andreas, Pelidis Manos, Sarantopoulos Dimitris, Tzotzos Apostolos, Vlassopoulos George | Coordinator: Voula Tseritzoglou

IPR Committee

Chair: Katerina Galanopoulou | Members: John Kyriakides, Antonis Makris, Dora Zachou, Xenophon Paparrigopoulos | Coordinator: Daphne Constantinidou

Leadership Committee

Costopoulos Alexandros | FORESIGHT Strategy & Communications

Chair: Miropoulos Artemis | Members: John Kalligeros, Pavlos Katsivelis, Antonis Kerastaris, Kyriakos Kofinas, Michael Mavropoulos, Spyros Olympios, Aristotelis Panteliadis, Vassilis Rabbat, Emmanuel Raptopoulos, Michalis Roussos, Alexandros Saracakis | Coordinator: Ritana Xidou

David George | COCA-COLA HELLENIC BOTTLING COMPANY S.A.

Medical Devices & Diagnostics Committee

Costas Stavros | Economist

Chair: Liakopoulos Theodore | Members: Anagnostopoulos Stefanos, Andria Magdalini, Baracos Christos, Boulougouris George, Deligiannis Konstantinos, Derkos Kalogridis, Kartalis Christos, Krinos Gregory, Lindholm Mangnus, Maroutsis George, Nikas Dimitris, Papazoglou Konstantinos, Strouzos Anastasios | Coordinator: Voula Tseritzoglou

Northern Greece Committee

Koutsoureli Eftychia | QUEST HOLDINGS S.A.

Chair: Bakatselos Nikolas | Members: Accas Ioannis, Alexopoulos Charis, Gigilinis Alexandros, Kafatos Vassilis, Katsaros George, Kokorotsikos Paris, Kouides Antonis, Kouimtzis Thanasis, Koukountzos Konstantinos, Mavroudis Theodoros, Pylarinos Othon, Symeonides Dimitris | Coordinator: Nikos Tsavdaroglou

Kyriakides John | KYRIAKIDES GEORGOPOULOS & DANIOLOS ISSAIAS

Pharmaceutical Committee

Kouides Antonis | B.E.R.M.A. A.E.

Chair: Pascal Apostolides | Vice Chairman: Filiotis Dionysios | Members: Frouzis Konstantinos, Gerassopoulos Marcos, Charalampidis Savas, Karokis Antonis, Greco Roberto, Kefalas Nikos, Lakatos Matyas, Nordkamp Hendrikus Hermannus (Erik), Pervaiz Ahmed, Tsoutsias Spyros | Coordinator: Voula Tseritzoglou

Public Affairs Committee

Members: Anastassopoulos Simos, Kyriacou Marios, Papadopoulos Thanos | Coordinator: Xidou Ritana

Taxation Committee

Stavridis Stelios | PISCINES IDEALES A.E.

Chair Costas Stavros | Members: Altiparmakis Christos, Ampeliotis Evangelos, Anastasiadis Harris, Antoniou Vassilis, Desipris Antonis, Doucas Spyros, Gigantes Stavros, Goulakos Panos, Govaris Vassilis, Kanellatou Athena, Kerameus George, Kyriakides Stelios, Laskaratos Panagiotis, Mavraganis George, Mitsios George, Nasiopoulou Maria, Panagiotidis George, Papadatos Eugene, Papandreou Cristina, Samothrakis George, Sarafoglou Gerasimos, Savvaidou Katerina, Sfakakis Konstantinos, Spyriouni Litsa, Stavropoulos Ioannis, Stavrides Vassilis, Theophilides George, Trakadi Maria, Tsakonas Yannis | Coordinator: Katerina Tzagaroulaki

Symeonides Dimitris | KEPA (BUSINESS & CULTURAL DEVELOPMENT

Tourism Committee

Passaris Despina | PROCTER & GAMBLE HELLAS LTD. Plessas Dennys | LOCKHEED MARTIN (INTERNATIONAL) S.A. Priamou John | U.S. Commercial Counselor (ret.) Saracakis John D | SARACAKIS BROTHERS S.A.

CENTER) Synghelides Polychronis | LANCIA - JEEP HELLAS S.A. Tourkolias Alexandros | NATIONAL BANK OF GREECE S.A. Yiannopoulos Emil | PRICEWATERHOUSE COOPERS BUSINESS SOLUTIONS S.A. Zeritis Panos | THRACE PAPER MILL S.A.

| BUSINESS PARTNERS | MARCH-APRIL 2013

Chair: Stylianopoulos Andreas | Members: Ananiadis Tim, Anglos John, Argiri Byron, Marriott Carol, Panayotopoulos Panos, Papadopoulou Catherine, Peressiadis Costas, Van de Winkel Bart | Coordinator: Angeliki Dikeoulia

Women in Business (WIB) Committee

Chair Kartsanis Georgia | Members: Adamopoulou Efi, Anagnostopoulou Popi, Athanassoulas Elena, Dimou Maria, Katsou Nelly, Kazakopoulou Betty, Labrou Marica, Milona Martha, Panagopoulou Varvara, Papakonstantinou Ioanna, Sideri Anastasia, Tarou Iphigenia, Thomas Marielle, Tzimea Deppie, Velliotou Peggy | Coordinator: Angela Boyatzis

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YO U R B U S I N E S S BEAUT Y HOME

NUTRITION

CHAMBER NEWS

New Year’s Reception—Athens More than 1000 guests attended the Chamber’s annual New Year’s Reception on January 31, 2013 at the Athenaeum InterContinental Hotel in Athens. Chamber members, leading government officials, members of Parliament, Ambassadors, organization presidents, media and other prominent executives of the business community attended the event. Welcome remarks were made by US Ambassador Daniel Bennett Smith and Kostis Hatzidakis, Minister of Development, Competitiveness, Infrastructure, Transport and Networks. The Chamber’s Committee’s were presented with a special award for their continued contribution to the efforts of the American-Hellenic Chamber of Commerce. The Presidents of the following committees received recognition for their committee’s work: Public Affairs Committee, Northern Greece Committee, Innovation, Education & Entrepreneurship Committee, Corporate Social Responsibility Committee, Taxation Committee, Women in Business Committee, Pharmaceutical Committee, Tourism Committee, Insurance, Social Security & Labor Affairs Committee, Corporate Governance Committee, Leadership Committee, Intellectual Property Rights Committee, Medical Devices & Diagnostics Committee. Chamber Committees Honored

Cutting the Pita

Yanos Gramatidis

Kostis Hatzidakis

Daniel Bennett Smith

U.S. Tax Seminar For Americans Living Abroad The U.S. Embassy Athens and American-Hellenic Chamber of Commerce held a tax seminar for American living in Greece on March 15 at the University of Indianapolis Cultural Center. Attendees were able to learn about the unique tax filing obligations regarding U.S. taxpayers working abroad and the latest developments affecting U.S. citizens residing overseas. Topics included: • Eligibility for the Foreign Earned Income Exclusion (FEIE) under I.R.C. Section 911 • Reporting requirements for individuals under the Foreign Bank Account Reporting Act (FBAR) • Compliance with Foreign Account Tax Compliance Act by individuals (FATCA) and the new amnesty program that is in effect for the 2012 tax year • The future of the FEIE and FBAR and new FATCA regulations The seminar presenter was Stephen P. Flott, Esquire of Flott & Company. Stephen Flott has more than thirtyfive years’ experience advising businesses, individuals and non-profits on a wide range of international business and tax matters, specializes in U.S. regulation of international shipping, trucking, bus and freight forwarding operations, U.S. citizenship issues, including expatriation and associated tax issues, and the special compliance challenges associated with long term non-filing of U.S. tax returns and financial reports by U.S. citizens who live outside the United States. Stephen P. Flott

| BUSINESS PARTNERS | MARCH-APRIL 2013

New Year’s Reception—Thessaloniki The Chamber held its annual New Year’s Reception in Thessaloniki on February 11, 2013 at The Met Hotel Thessaloniki. The event brought together Chamber members, leading government officials, members of Parliament, Members of the Diplomatic Corps, organization presidents, media and other prominent executives of the business community, who enjoyed a pleasant and rewarding networking event. Welcome remarks were made by Theodoros Karaoglou, Minister of Macedonia and Thrace and Robert P. Sanders, Consul of the United States in Thessaloniki. Theodoros Karaoglou, Robert P. Sanders, Yanos Gramatidis, Nikolas Bakatselos

Nikolas Bakatselos, Demetrios Lakasas, Robert P. Sanders, Yanos Gramatidis

Yanos Gramatidis, Theodoros Karaoglou

Nikolas Bakatselos, Robert P. Sanders, Efstratios Simopoulos, Yanos Gramatidis

MIW Forum at Agricultural University The Innovation, Education and Entrepreneurship Committee of the Chamber, in cooperation with the Agricultural University of Athens, held the 2nd MIW (Make Innovation Work) Forum on March 12, 2013. This forum is part of a series of MIW events to promote business growth and innovation in Greece. The Forum addressed three primary topics: the Development of Innovation, Entrepreneurship from Theory to Practice, and the Importance of the Right Business Plan. Development of Innovation. Speakers examined how easy it is to develop innovative ideas and produce results on univer-

sity campuses. Attendees asked questions regarding problems, best practices, and intellectual property. The panelists raised the issue of liaison offices, that are so common abroad, and how they could create a bridge between the market and university research in Greece by making clear the position of each institution in the market and opportunities for cooperation. Entrepreneurship from Theory to Practice. In this section, speakers discussed funding and explained what a financing source might be looking for to fund an innovative idea. Panelists also spoke about the difficulties an entrepreneur faces,

Leadership Committee members with John Camp (fifth from left)

Guided Tour of Stoa tou Attalos John Camp, of the American School of Classical Studies at Athens, Director of the Agora Excavations, led members and guests of the Chamber’s Leadership Committee on a guided tour of the Stoa tou Attalos in the Ancient Agora of Athens on March 1. Professor Camp, a world-renowned archeologist, pointed out the many similarities of Ancient Greek commerce with that of today, especially underlining how the concepts of branding and proprietary design have been employed for thousands of years. Guests had the opportunity to visit the storage and study areas of the Agora and were briefed by American scholar Bruce Hartzler on how digital technology is aiding and assisting archaeologists today in recording, comparing and analyzing data.

Discussing Agricultural Entrepreneurship

“smart money,” the importance of proper mentoring, and incubation. The section concluded with representative of Greek businesses presenting best practices. The Importance of the Right Business Plan. Speakers and audience joined in an inter-active discussion on the benefits of understanding strategy and proper business execution.

MARCH-APRIL 2013 | BUSINESS PARTNERS |

CHAMBER NEWS

Leadership Forum 2013

North Greece Luncheon

Yanos Gramatidis

Artemios Miropoulos

Discussing Talent Mobility

Panel Discussion on Talent Mobility

The Chamber hosted a closed luncheon on February 21, 2013 at the Met Hotel, Thessaloniki, with guest speaker Dr. Takis Athanasopoulos, former President of the Hellenic Republic Asset Development Fund. Dr. Athanasopoulos clarified the Fund’s mission and analyzed its company and infrastructure portfolios, with particular reference to projects in Northern Greece. He reiterated the benefits of privatizations and informed guests of the Fund’s progress to-date as well as the schedule for 2013. Mr. Andreas Taprantzis, Executive Director of the Fund, analyzed the strategic plan for the development of public real estate units within the Thessaloniki area and made a comprehensive presentation of the Fund’s local real estate projects. The event was attended by key members of the local business community.

Chamber Calendar April 3-4 Athens, Athenaeum Intercontinental Hotel, DEWO-Exposec Conference April 17 Athens, 9th Athens Tax Forum April Athens, Launching the 2nd MIW Competition

The Leadership Forum 2013 - Talent & Mobility: Redefining Leadership in Greece, took place on January 24, 2013 at the American School of Classical Studies. More than 250 guests attended the conference, who had the opportunity to be part of a dynamic discussion and propose new initiatives toward redefining leadership development. Chamber President Yanos Gramatidis welcomes the delegates, and noted that the rapidly changing business and social environment requires a change in approach to the concept of mobility. Leadership Committee Artemios Miroploulos moderated the event, at which the results of the latest Leadership Committee Survey on Talent and Mobility were presented. Panelists held an animated interactive discussion with delegates and American School of Classical Studies Director Jim Wright discussed talent, leadership and mobility today in relation to the environment in Ancient Athens—drawing parallels with Aristotle and Thucydides.

| BUSINESS PARTNERS | MARCH-APRIL 2013

May 16 Hilton Hotel, WIB Luncheon with Elizabeth Filippouli, Founder & CEO, Global Thinkers & Global Thinkers Forum May Athens, 12th HealthWorld Conference May Athens, Intellectual Property Rights Conference May Athens, WIB Forum: Gender Diversity June 7 Athens, WIB luncheon, guest speaker Marigo Bos, President, ETWN June 13 Athens, WIB Seminar: Networking for Success

Chamber Launches Breakthrough Greece

Elias Spirtounias, Yanos Gramatidis

President Yanos Gramatidis and Executive Director Elias Spirtounias presented the newest initiative of the Chamber to the media on February 26 at the Chamber offices. Breakthrough Greece is a campaign that brings Greek innovation and entrepreneurship to the surface, showcasing healthy, extroverted Greek companies and entrepreneurs with a global vision. Breakthrough Greece is a site designed to reverse the negative image that has been created abroad in recent years, underlining that Greece is increasingly more dynamic and innovative economy, and one that produces, develops, creates jobs, and most important, exports. Its aim is to promote best practices, highlighting the emerging culture of applied innovation in the Greek economy and to strengthen the image of entrepreneurship in our country. At the same time, the web portal acts as a B2B tool for Greek companies to find business partners and resources around the world. President Gramatidis said: “We continue to provide essential services to the Greek economy, contributing to the cause of development, specifically and effectively, while enhancing entrepreneurship. Growth is not just a term, it is a daily practice and struggle to revive production and trade with realism and a defined methodology.”

Breakthrough Greece Presented to Deputy Minister Mitarachis The Chamber, led by President Yanos Gramatidis, presented Breakthrough Greece, its initiative to promote Greek innovation, entrepreneurship, and private sector success, to the Deputy Minister of Development Notis Mitarachis and his the advisory team at the offices of the Development Ministry on March 19. Executive Director Elias Spirtounias demonstrated how the Breakthrough Greece site is designed to showcase Greek companies to the world.

After the meeting Mr. Mitarachi said: “We welcome this initiative by the AmericanHellenic Chamber of Commerce, which contributes to our efforts to project Greece as a healthy, entrepreneurial, innovative and outward-looking country. We look forward to continuing to work together with the Chamber in this direction.” Chamber President Yanos Gramatidis said: “It is with great satisfaction that we receive such a warm welcome of our ini-

tiative by the government. We continue to provide essential services to the economy, by contributing to the cause of development with specific and effective tools, while boosting entrepreneurship. We hope that today’s meeting will establihs grounds for an effective collaboration.” Also attending were Katerina Tzagaroulaki John Moisoglou, Spyros Kouroupis, and Raymond Matera.  http://www.breakthroughgreece.gr/

MARCH-APRIL 2013 | BUSINESS PARTNERS |

In Profile

Members on the Move Chamber members are active in a wide variety of sectors and countries. Business Partners profiles companies that have recently joined the Chamber.

IONIOS SCHOOL S.A.

Ionios is a renowned private school offering students from kindergarten through high school a world-class education and the International Baccalaureate curriculum from its Filothei campus.

KYVERNITIS TRAVEL

With over 40 years of experience in the travel industry, Kyvernitis is one of Greeceâ&#x20AC;&#x2122;s leading corporate and leisure travel agencies. Its clients include shipping companies, multinational corporations, as well as high net worth individuals from Greece and abroad.

MAGISTER ARTIUM GROUP ABBVIE PHARMACEUTICALS S.A.

Active in more than 170 countries, AbbVie is a new biopharmaceutical company composed of Abbottâ&#x20AC;&#x2122;s former proprietary pharmaceutical business. AbbVie combines the strength and stability of an established pharmaceutical company with the focus and innovative spirit of a biotech.

AUDIT SERVICES S.A.

Audit Services provides clients with regular and special audits in accordance with the international or Greek auditing standards, as well as audits for M&A, liquidations, transition to IFRS, and tax certificates.

BERNARD SIDMAN

Bernard Sidman is an accomplished lawyer who has been dedicated to the practice of U.S. Immigration Law since he opened his Los Angeles law firm in 1983. Bernard handles all types of immigration cases, including business and family immigration matters.

Magister Artium Group is a holding company that serves as a trusted business partner and a unique learning resource for a broad range of industries. The group currently operates two business units, The Management Lab and The Learning Lab.

METRO S.A.

Founded in 1976 from the association of eight grocers, Metro is one of the most active companies throughout Greece in retail and wholesale food sales.

PRAXIS S.A.

Founded in 2008, Praxis is a dynamic forwarding and logistics firm, with transportation and storage facilities based in Kalochori and Aspropyrgos.

PROJECT LTD.

Project LTD provides business consulting services concerning tax, accounting, business administration, marketing, and international trading issues to companies, self-employed professionals, as well as public agencies.

ENERGEAN OIL & GAS S.A.

SJM HELLAS LTD.

Energean is an international oil and gas exploration and production company, currently focusing on the Mediterranean and North African region. It operates oil and gas assets in Greece and Egypt.

St. Jude Medical develops medical technology and services that focus on putting more control into the hands of those who treat cardiac, neurological and chronic pain patients worldwide.

FOOD STANDARD S.A.

TSIBANOULIS & PARTNERS LAW FIRM

Foodstandard provides quality, organization and marketing services, as well as relevant studies to food chain enterprises, agrofood industries and non-governmental organizations within Greece.

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Tsibanoulis & Partners is a leading Greek law firm in financial services, capital markets and banking law, and offers a full service capability in all other practice areas. Its lawyers are multilingual and internationally trained.

AMERICAN-HELLENIC CHAMBER OF COMMERCE

Just Like You, We Mean Business Join the American-Hellenic Chamber of Commerce today and let our many membership benefits take your business to the next level. Peer-to-Peer Networking World-Class Events High-Level Discussions Advocacy For Your Sector Market Knowledge, Business Intelligence Athens, Thessaloniki

AMERICAN-HELLENIC CHAMBER For information about how your company can OF COMMERCE American - Hellenic Chamber of Commerce benefit from being a member of Head Office The American-Hellenic Chamber of Commerce Politia Business Center, 109-111 Messoghion Avenue, 115 26 Athens contact Katerina Tzagaroulaki, Executive Officer Tel: 210 699.3559 | Fax: 210 698.5686, 210 698.5687 E-Mail: info@amcham.gr | www.amcham.gr

New Memberships & Events k.tzagaroulaki@amcham.gr 210 699 3559 ext. 22

Branch Office 47 Vasileos Irakleiou Street, 546 23 Thessaloniki Tel: 2310 286.453, 239.337 | Fax: 2310 225.162 E-mail: n.tsavdaroglou@amcham.gr

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Start-Up

Vitalizing Your Startup Anastasia Anastasopoulou discusses one of the most important tasks in a new company—bringing on talent.

by Anastasia Anastasopoulou Recruiter, Accenture S.A.

Dear Entrepreneur, What is the biggest challenge of your startup company? Is it raising money or coming up with a competitive business plan? Do you consider the importance of attracting, recruiting and hiring among the most vital parts for the success of your plans? 2013 demands the acknowledgement that resources can make a difference and you cannot afford to not take this into serious consideration. Research shows that giving life to a startup is demanding and failing to take advantage of the power given by talent is not to be forgiven in business. In fact, onboarding the best fit takes more than a good job description and well-organized procedures. Invest time and energy putting a rigorous sourcing process in place since it is about putting you in a position to attract the best. A dynamic—if not aggressive—recruiting plan will boost your market presence.

Onboarding the best fit takes more than a good job description and well-organized procedures

Once you have the first talents joining, activate the referrals’ tool. It will grant you access to more matching profiles and, at the same time, enable you to endorse the culture of your startup. Moving on, you should pay attention to a few technicalities as well, such as concrete role requirements that avoid overlapping, goal setting, team bonding activities and, of course, training and best practice/knowledge transfer. Leadership should strengthen its presence daily, whether it is about sharing the vision, exchanging views and experiences, or just inspiring.

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This same inspiration counts for each hire at your startup. Each hire is added value and even one single bad hire can cause incredible damage. This is why you should be extra cautious when it comes to identifying your future executives. Let’s drill down to some characteristics of your future executives. • First, drive and vision, along with innovation, are not just good to have. Should you proceed with any hire that does not meet these criteria you need to admit that something is missing from the beginning. • Technical expertise and previous experience (especially not only at large corporations) are important but you have to balance knowhow with learning agility. You need people who are dedicated to trying new things, getting out of their comfort zone, and showing interest in working at a startup. • Furthermore, willingness and hard work are huge assets whereas personal/open-source projects are indicators of people not afraid to take risks. Needless to say, teamwork is a must. International experience adds a different dimension to people’s mindset that can also be valuable for your startup. • Last, but not least, do not be afraid of ambition. Ambition is a well-appreciated component to your startup hire since people with lofty ambitions (who genuinely want to run their own startups) are proven good in decision making and client facing. If you now consider that there is a checklist you can go through and you are done, think again. There is definitely a good reason why recruiting for a startup is broadly recognized as challenging. Each individual is unique and, as such, it requires more than a quick resume screening or a recruiting campaign to succeed. Vitalizing your startup requires creativity. After all, who is better in creativity than you? Best,

Anastasia

Collaboration@Work

by Stavros Messinis

Failure and Innovation Are Close Cousins

ut failure is imperative because most of the non theoretical things that we learn, we learn through making mistakes. In startups, failing is celebrated.

Understanding the Fear of Failure We should be encouraged to take chances and understand that failure is necessary as we move along the path toward success. We hesitate taking risks because of the fear of losing time, money and reputation. We fear discomfort and the lack of control, yet creativity only happens on the fringe, when we’re out of our comfort zone. Innovators naturally work in a

Each organization needs to have a skunkworks team. A special team that breaks away from the larger organization to work autonomously on an advanced or secret project.

risky environment. If we are to be innovators we need to get comfortable with the idea of not being comfortable and that failure, even ultimate failure (for instance, bankruptcy) is very much a possible outcome. But it is still not the end of the world. If we’re going to encourage risk taking which will inevitably lead to some failures, we need to make room for failure and accept that it is part of our learning process.

The Cycle of Experimentation and Experience There is one story of a manager who made some bad judgement calls and chose the wrong strategy for a business unit he was running. This error cost the company a hundred thousand dollars. The manager entered the CEO’s office, his head hanging low, full of disappointment and said “Sir, my actions have cost us a lot of money. My resignation is at your disposal.” The CEO responded, “I don’t want your resignation. We’ve just invested a hundred thousand for your education.” Making a mistake is not a catastrophic failure. Making the same mistake continuously is. We need to work in a cyclic process of continuous planning, experimentation, measurement and corrective action and this makes succeeding easier and failing al-

Nobody likes failing. Failure is considered extremely expensive and often thought of as fatal for a new businessperson’s entrepreneurial career. ways acceptable, but not always desirable. Or at least desirable while on the route to a successful outcome. Growth happens between stages of execution of the experiment and measurement, while fear exists between planning and experimentation.

Skunkworks Teams Each organization needs to have a skunkworks team. A special team that breaks away from the larger organization to work autonomously on an advanced or secret project. Traditionally, skunkworks have been assembled by nations in the face of imminent and exceptional threat from other nations. Startups work under constant threat of death. Whether you are a startup or not, don’t wait till the threats are overwhelming. Create a team now. Staffed by complementary skills and cross section of disciplines, if they are empowered and given the room to experiment these teams will bring innovation to your company. Identify persons that go against the grain and embrace failure as a learning outcome. Failing and creating go hand in hand. As long as the failures are learned from in a controlled fashion, the creations or innovations will be spectacular.

Stavros Messinis is the co-founder of coLab Workspace. He is also a member of the Startup Weekend global facilitators group powered by the Kaufmann foundation. Since selling his stake in coLab, he is currently planning his next entrepreneurial collaboration workspace to be launched in Athens in the coming months.

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NAMES & FACES

...in the news  ONEX Supports Sport

Within the framework of its strong belief in supporting athleticism, ONEX is a proud sponsor of Christos Volikakis, the Greek track cyclist who attained significant success at the UCI Track World Cup, held January 17-19, 2013 in Aguascalientes, Mexico. In addition, ONEX supports long distance runner Popi Astropekaki, who is set to compete in the Paris Marathon on April 7, 2013.  Endeavor Global Adds Two Greek Companies Endeavor Global’s 47th International Selection Panel – ISP Endeavor Global hosted more than 100 businessmen and representatives of their international network in Athens. Thirteen companies were added, including two Greek from Greece, Obrela Security Industries (www. obrela.com) and Out There Media (www.out-there-media.com). Obrela Security Industries provides services to assess and manage information risk for complex enterprise environments and major domestic and 500 global corporations. Out There Media operates in mobile advertising, and works with brands, advertising agencies, small businesses and e-commerce companies around the world to increase their visibility and interaction with consumers.  Dance of Zalongo Dance of Zalongo, by Greek-American author Christos Papoutsy, offers the perfect introduction to the Hellenic struggle for freedom. The book offers in-depth coverage of this critical moment in Western history. Dance of Zalongo explains the significance of the Souliot sacrifice for Greece and its place in the struggle for freedom. This pivotal moment has been preserved for posterity through art, film, music and dance. The bravery of the Souliot women who jumped to their death rather than become Muslim slaves left an indelible mark on the West. “Liberty or Death!” has been their rallying cry, echoing throughout history. Available at Amazon.

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Economic Counselor David Lippeatt, the new Economic Counselor at the U.S. Embassy in Athens, is a career economic officer in the U.S. Foreign Service. He has 18 years of policy analysis experience in the areas of energy, environment, macroeconomics, ICT and innovation. Recently, David served as special assistant on EuroDavid Lippeatt pean and environmental issues to the State Department. He was Economic Policy Unit Chief at the U.S. Mission to the EU in Brussels from 2007-2010. David also led engagement with host governments on key economic issues at overseas postings in Poland (1995-97), Colombia (1997-99) and Peru (2002-05). He has earned major State Department awards including the Assistant Secretary’s Award for Environment, Science and Technology (2003), Superior Honor Award (2007) and Meritorious Honor Awards (1999, 1997). He holds degrees from Stanford University and the University of Texas at Austin. He is married with two children, and is originally from Southern California. He enjoys classical history and outdoor activities, and so is delighted to be posted in Greece.

SBC—Expanding Financial TV

Anthony Tantoulos

SBC TV is the only financial news TV network in Greece that broadcasts its program around the clock, through DIGEA in Attica, OTE TV, as well as online via www.sbctv.gr. Director Anthony Tantoulos and his team promise to put SBC TV on the Greek TV map with more segments, news, analysis of international developments and stock exchange coverage.

Stelios Stavridis Heads TAIPED

Stelios Stavridis

The Ministry of Finance has appointed Stelios Stavridis to be the new president of TAIPED, the Hellenic Republic Asset Development Fund, replacing Takis Athanasopoulos. Mr. Stavridis was managing director and president of EYDAP and has been a long standing member of the American-Hellenic Chamber of Commerce for many years.

A Chance Affair

It’s Not The Failure...

—Jim Rohn

—Michael Jordan

Your life does not get better by chance, it gets better by change.

I can accept failure, everyone fails at something. But I can’t accept not trying.

Aris Kefalogiannis CEO, Gaea Products S.A.

reinspire greece What is reinspire Greece? To inspire, motivate and encourage Greek youth at a time of high unemployment, Gaea and Celebrity GreekAmerican chef Cat Cora launched a charitable initiative—Re-Inspire Greece. Through the online sale of Cat Cora’s Kitchen by Gaea “Antiparos Agrilia Estate” Organic Extra Virgin Olive Oil” exclusively for the U.S. market, young Greeks will be able to propose their business ideas and to win the chance of funding their own business with a grant of 25,000 Euros ($30,000). You can contribute via www.ReInspireGreece.com Why is this so important for Greece today? The unemployment rate in Greece, especially among youth, is higher than ever. At Gaea we consider our community an essential part of our success and cannot stay untouched by this situation. It is of great importance to help young Greeks becoming an active part of society. Given that more and more Greeks are leaving the country in search of a better life abroad, this is our way tp help them stay in touch with the land of their forefathers, their heritage, and their history. Tell us a few words about Gaea Gaea was founded in 1995 with a vision to become the leader in the category of Mediterranean Greek cuisinemeze, synonymous for quality, tradition, authenticity and innovative Greek specialty foods. In the U.S. we teamed up with Cat Cora to create a line of the finest all-natural products, inspired by the flavors of the Greek heritage.

The Energy Equation

In a chronically leaking boat, energy devoted to changing vessels is more productive than energy devoted to patching leaks.

 Club Hotel Casino Loutraki invests in Culture Club Hotel Casino Loutraki sponsored the illumination of the Temple of Apollo in the archaeological site of Ancient Corinth. The illumination ceremony was held January 26. The preservation and promotion of the Temple of Apollo began in 1886 by the German archaeologist Wilhelm Dörpfeld. Since the previous century until today the American School of Classical Studies at Athens, in cooperation with the Ephorate Classical and Prehistoric Antiquities Corinth, continue the efforts to preserve the monument.  Ioannina Researchers Win MIT’s First Prize for

Innovation

Greek researchers won first prize for innovation and better resource management in an MIT contest for innovation in health and well-being this past January. Priority was given to the development of a prototype that would allow patients to be in control of their health. The Greek team, comprised of A. Tzallas and M. Tsipouras from Ioannina, among others, constructed a system which consists of two smart devices, a glove and a cup. The system, and software, monitors and assesses bradykinesia and rest tremor symptoms in patients suffering from Parkinson’s, and the optimal adjustment of their medication.  EuroCharity Yearbook EuroCharity chose for its 6th Yearbook the theme Innovation for Excellence, since local and global challenges call for innovative solutions.The 6th EuroCharity Yearbook will profile leading CEOs, corporations and organizations leading the way with innovation. It will also future leading decision-makers, entrepreneurs, Nobel Laureates, professors, scientists, gurus and others to share their views. The album is scheduled for release in June and is to be presented to a global audience in Athens and in Brussels.  AIA—New Services Athens International Airport has introduced a number of new services and facilities. The new additions include: Arrivals Central Info, Renovation of Bus Gates, Virtual Assistants, an Internet Island, Time-to-Gate monitor, Branded Video Walls, and World Tracer Kiosks in the event of lost luggage. Kalo Taxidi!

The Blame Game

Destiny’s Child

—Douglas Noel Adams

—Lao Tzu

When you blame others, you give up your power to change.

If you do not change direction, you may end up where you are heading.

—Warren Buffett

MARCH-APRIL 2013 | BUSINESS PARTNERS | 15

MarketPlaces

Going Digital, Staying True Please tell us a little about the Ianos brand—what it is, what it represents, where it operates. Ianos Culture Chain was founded in 1984, in Thessaloniki. The first store is a cultural center that hosts many activities, including a bookstore, an art gallery and cultural events venue. Since then, the company has

added another six branches, with the latest being Ianos Artshop in Athens. Furthermore, it continued developing a range of new activities (Ianos Digital, Ianos Radio, Ianos Art), and today is established as one of the most innovative and successful businesses of the Greek book and culture industry. Distinct identity, innovation and highquality standards of service are the three pillars underpinning the high recognition and powerful business profile of Ianos. So, the physical space of Ianos is pretty dynamic. What about virtual spaces? Our e-shop (www.ianos.gr) began operating in 1998. It was the first e-bookstore in Greece and since then it has been a dynamic virtual space that serves the needs of all parts of the country and Greek people living abroad. We have alsolaunched a series of versatile digital activities such as Internet Radio, Web TV, and Ianos Digital, a new business initiative focusing on digital publishing, mobile media projects development, interactive social web platforms, and a series of digital culture activities. How does Ianos Radio and Ianos TV, for instance, support your business model? They both give us the opportunity to transfer the in-store experience of our dynamic events venues online. They both support our business model in other ways as well, acting as autonomous activities to generate independent revenue streams or promoting our brand. Now you have launched Ianos Digital. What is this platform? Ianos Digital integrates all Ianos digital activities, co-developed with Nondas Syrrakos, who is Digital Brand Director. Our goal is to develop a digital social hub that will host all digital activities empowered by

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Kostis Karatzas, Executive Vice President at Ianos, discusses the the evolution of a brand and the business of culture. Ianos. Objective are: • Development of a social web platform that enables users to view, comment, discuss, provide feedback and rate all Ianos activities, services and products. • Holistic Digital media culture projects on a cross platform approach, both web and mobile media. • Initiatives within Ianos activities that could be considered as start-up projects. • Development of an internal full structured and dynamic social media squad, providing added value, dialogue-oriented content. And you have two new applications. Tell us about these innovative apps. The first, based on the book “You speak Greek, you just don’t know it” by Annie Stefanides, is a selection of more than 6.000 Greek words that one finds in the English language. On the iPhone screen, this journey through the Greek language becomes an interactive experience; the user “plays,” trying to find the Greek word that is the origin of the English word on the screen or vice versa. This innovative app is the outcome of a creative process restructuring original content (dictionary oriented) into a new gamified environment. iTunes URL - http://goo.gl/vwdQO Our latest app is the ‘Global Music Timeline,’ a collection of 80.000 composers, guitarists, manufacturers, singers and more, by Notis Mavroudis. Timeline philosophy and structure allow immediate usability upon first data reference. It guides you in a charming musical journey, through ages, genres, aesthetic trends, and forgotten information sources. iTunes URL - http://goo.gl/h6ox4 Both apps, are powered by Ianos Digital and they will be followed by a series of mobile media projects.

BIZ BUZZ

Six Trends Reshaping Small Businesses in 2013 1. Resilience as the New Norm This year, businesses will be focused on “resilience”—in everything to crises to natural disasters.

2. Changing Demographics and Regional Growth Patterns Business owners should start looking at how cities and regions are being reborn: Wind turbines and biotech clusters are now just as important to Rust Belt cities as automotive and steel factories once were.

3. The Rise of the Freelancer Employers can now farm out the work that’s needed instead of committing to longer-term contracts and maintaining unnecessary overhead.

4. Gamification From training and e-learning to simple sales challenges, gaming is adding value in unsuspected areas.

5. Crowdfunding Watch for an uptick in industry-specific innovation marketplaces that take a few pages from the KickStarters and add some twists of their own.

6. Data in Everything Big data is transforming how businesses improve the customer experience and uncovering valuable information buried in supply chains  Source: Forbes everywhere.

Ambassador Smith Hails HP-Cosco-Trainose Agreement U.S. Ambassador Daniel Bennett Smith joined Prime Minister Antonis Samaras, company executives, and other dignitaries in Piraeus on Friday, March 1 at a ceremony marking Hewlett Packard’s decision to use the Piraeus Port as a key distribution hub for Central Europe, the Middle East, North Africa and the Mediterranean. In his remarks, the Ambassador saluted HP’s cooperation with port operator COSCO and Greek rail operator TrainOSE, terming it “an important sign that Greece’s effort to create an environment that will attract new foreign investment is bearing fruit.” Commenting on the Port of Piraeus’ strategic advantages, Ambassador Smith said that the deal underscores that international companies are increasingly recognizing Greece’s potential to become a key hub for international trade, transportation, and services.”

Scientists at Aristotle University of Thessaloniki Synthesize Silver Nanoparticles A team of researchers from Greece and Spain have managed to synthesize silver nanoparticles, which are of great interest thanks to their application in biotechnology, by using strawberry tree leaf extract. The new technology is ecological, simple, cheap and very fast. Silver nanoparticles are used in advanced technologies from compounds for distributing medicines through to electronic devices, catalysts, contaminant solvents. The technique has been developed by scientists at the Aristotle University of Thessaloniki and Madrid’s Carlos III University and consists of adding an extract of the leaf to a silver nitrate aqueous solution. Silver nanoparticles form immediately after stirring the mixture for some minutes. “There are other methods for producing them but this process is the most simple, low cost and easy to implement,” outlines Sophia Tsipas, researcher and coauthor of the study.

Charles Leadbeater on Consumer-Driven Innovation “All of our patents, our entire approach to patents and invention, is based on the idea that the inventor knows what the invention is for; we can say what it’s for. More and more, the inventors of things will not be able to say that in advance. It will be worked out in use, in collaboration with users. We like to think that invention is a sort of moment of creation: there is a moment of birth when someone comes up with an idea. The truth is that most creativity is cumulative and collaborative, like Wikipedia, it develops over a long period of time.”

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Authentic Greek Products Go Global As the global demand for the “Mediterranean diet” increases, more and more Greek food and beverage companies are finding their way onto foreign supermarket shelves. The latest Greek products to reach British shores come from Freshline Gourmet (a division of I.C.B. Services Ltd), a company which aims to provide an extensive line of the highest quality, great tasting and all natural foods Greece has to offer. “We are very excited to bring health and longevity to family tables across the world, by providing them with some of the highest quality foods Greece has to offer. We feel confident that our new venture will prove to be an overwhelming success and that we will contribute considerably in increasing Greece’s food export activity,” said Andri Andreou, Managing Director of I.C.B. Services Ltd. The company plans to expand distribution of its yoghurts, cheeses, olive oils and other products to more international markets shortly, as well as expand its range of products into new tastes.

Louis Group Celebrates Re-launch of Greek Island Hotel “Mykonos Theoxenia” Designed by the famous Greek architect Aris Kostantinides and recently refurbished befitting the retro sixties theme by the renowned interior designer Angelos Angelopoulos, the Greek Island hotel Mykonos Theoxenia is now a Louis Group hotel and a member of the trendy Design Hotels of the World group. To celebrate, Louis Group is pleased to re-launch Mykonos Theoxenia – the favorite Mykonos hotel of iconic First Lady Jacqueline Kennedy Onassis, as well as Grace Kelly and other stars. Restored to its former glory with its distinct stone and whitewashed corners, the Theoxenia reintroduces 60s glam to its guests. ‘The plate’, the hotel’s restaurant provides the most breathtaking view on the island with balconies opening on the water and a whitewashed chapel right below whose belfry hides the melting colors of sunset as sumptuous Greek cuisine is served.

Intrasoft Wins $6.2 Million Contract in Qatar to Support Tax Transformation Process Following an open international procurement process, the consortium that includes Intrasoft International as the strategic partner for large-scale IT Systems in the business domain of taxation, has been selected by Qatar’s Ministry of Economy and Finance, for the supply and implementation of a Tax Administration System (TAS). The other members of the consortium include Qatar-based Mannai Corporation and Oracle Consulting. The project, which will run for eighteen months with a maintenance period of additional five years, is the second similar project in the region for the company, reflecting Intrasoft’s rising global expertise in the implementation of large-scale information systems in the field of taxation. Under the deal, Intrasoft will provide services related to the parameterization, adaptation, integration, training and technical support of the Turn-key Integrated Commercial-off-theshelf (COTS) Software Solution for the implementation of the Tax Administration System. Upon completion of the project, the Qatar’s Ministry of Economy and Finance will possess a modern system with the means to proactively automate and manage their workload and direct resources to service and compliance activities as required.

MARCH-APRIL 2013 | BUSINESS PARTNERS | 19

Connect AMERICA

GR@USA

News and developments from across the Greek-American bridge

USA: Congressional Hellenic-Israel Alliance The Eastern Mediterranean is transforming, and partnerships are being formed to reflect the changing geopolitical reality. The United States should support and recognize the region’s blossoming Hellenic-Israeli partnership, which could be transformative for the respective nations and the international community of democratic stakeholders. Together, Cyprus, Greece and Israel will help strengthen our shared democratic

values in the region. The countries’ strategic location, natural resources and intellectual capital bring issues, such as economic development, energy production and counterterrorism, to the forefront. Therefore, it is no accident the HellenicIsraeli region has seen a flurry of bilateral diplomatic activity surrounding the enhanced alliance. Optimistic agendas around issues, including strategic defense, energy and knowledge transfer, have emerged that will, with U.S. involvement, strengthen political, military and

Greek Yogurt— Boosting Health and the U.S. Economy

New York officials want the state to be part of a pilot program to test the cost-effectiveness of serving Greek yogurt in school meal programs. The U.S. Department of Agriculture is starting a pilot program that could lead to more Greek yogurt in schools as early as April. New York State Agriculture Commissioner Darrel Aubertine has written the USDA urging that New York be chosen for that program. The Greek yogurt business has been booming nationwide and in New York. Two of the largest Greek yogurt producers, Chobani and Fage, have production facilities in upstate New York and buy tons of milk from dairy farmers in the region (Chobani is not Greek owned). Sen. Charles Schumer says New York’s participation would boost nutrition for students and help the state’s dairy farmers.

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energy security – not just in the Eastern Mediterranean, but across the globe. They will also provide a buffer against internal and external threats in Israel, Cyprus and Greece. The increasing threat of a nuclear Iran, the implications of the Arab Spring, the potential for natural gas pipelines in Cyprus and Israel, and the hope of mutually beneficial economic activities have initiated new cooperation between these nations. It is for this reason we have founded the Congressional Hellenic-Israel Alliance.

RePower Greece ReVisits the United States

In February, RePower Greece convened an academic discussion series at 14 universities in the United States, including Harvard, MIT and Columbia. The discussions were designed to exchange ideas and inform participants of the constructive, result-oriented forces shaping positive change in Greece—with the goal to restore Greece’s credibility with a critically important audience. Students and professors presented specific proposals on how to move forward based on their own knowledge and experience of Greece, either in the form of a presentation (8 at each event), or through roundtable discussions. These proposals offered practical and realistic solutions, based on optimizing Greece’s best features. The result was a wide-ranging set of ideas, notable for their insight and innovative qualities, that seek to leverage the advantages of Greece toward a constructive, positive, and productive future.  An overview of the discussion series may be found at http://www.repowergreece.com/

Travel USA

On the occasion of Greece’s entry into the Visa Waiver Program, the U.S. Commercial Service of the American Embassy in Athens is showcasing all 50 states and five territories in Business Partners.

Discover America—Maine ★

nown for its lovely scenery and rocky coastline, the state of Maine is an excellent choice for vacationers looking for outdoor recreation and authentic New England experiences. It’s the least populated of the New England states, and boasts a dramatic coastline of more than 3,500 miles, plus bold mountains, clear lakes, sandy beaches, fascinating wildlife and huge tracts of forested wilderness. It also offers bustling cities, quaint fishing villages, fantastic outlet shopping, unique accommodation and some of the finest restaurants in New England, where you can feast on lobster and other fresh local produce. Maine’s rich history of shipbuilding, seafaring, fishing and lumbering is preserved today in the stately homes of former sea captains and lumber barons, and in cultural history and art museums. Along the coast, Acadia National Park offers 45,000 acres of spectacular mountain and ocean panoramas. Thousands of islands, some inhabited, others not, are accessible by car ferry, pleasure boat, or sea kayak. Going to the beach, whale watching, and fishing are popular coastal activities. Inland, the Kennebec and Penobscot rivers feature some of the best whitewater rafting on the east coast, while over 200,000 acres in ‘forever wild’ Baxter State Park are home to Mt. Katahdin, Maine’s highest peak, and many species of wildlife. In winter, family resorts in the western part of the state, such as Sugarloaf and Sunday River, are meccas for downhill and Nordic skiers and snow boarders. Mount Katahdin

THE PINE TREE STATE Land Area 33,215 square miles Population 1,321,505 State Capital Augusta Largest City Portland Local Time EST - 7 hrs behind Greece Climate Maine’s four seasons offer a healthy, invigorating environment. The average daytime summer temperature is about 70°F (21°C), while average winter temperature is about 20°F (7°C) National Parks There is 1 National Park, 1 National Forest and 51 State Parks and Public Reserved Lands

 For more information: Maine Office of Tourism Tel: 00 1 877-624-6331 E-mail: info@visitmaine.com Web: http://www.visitmaine.com

MARCH-APRIL 2013 | BUSINESS PARTNERS | 21

Techno Logia

Meet Pebble

Amidst growing anticipation for rumored Apple and Samsung smart watches, Pebble, the crowdfunded smart watch, began shipping units to backers in late January. With a modest funding goal of $100,000, the project raised a jaw-dropping $10 million on kickstarter.com in just one month. Pebble claims to be the first watch built for the 21st century. It is infinitely customizable, with beautiful downloadable watchfaces and useful internet-connected apps. Pebble connects to iPhone and Android smartphones using Bluetooth, alerting you with a silent vibration to incoming calls, emails and messages. Pebble’s design is minimalist yet fashionable and seamlessly blends into everyday life. It’s even water-resistant, letting you take your world with you wherever you go! It is an exciting start to a year that will likely redefine the concept of a watch.

Soundtrack to Your Life The increasing portability of music has given fans all over the world the ability to listen to any song, anywhere. One Australian company has taken it one step farther. Moodlstr, a new music player for IOS, designed to compete with the native Music app, allows users to create custom playlists based on “moods”, then, blend mood profiles into the perfect soundtrack for any given moment. Whether it’s “workout” music, a list of your best “driving” tunes or simple “songs for sitting on the beach and staring at the stars”, Moodlstr lets you create the perfect audio profile for whatever mood you’re in—or for what ever situation arises. Full social media integration lets you then share your musical mood with the world.

Fast St Sony Unveils Next Chapter in Video Game History

On February 20, Sony announced the PlayStation®4 (PS4) console, its next generation console that redefines rich and immersive gameplay with powerful graphics and speed, intelligent personalization, and deeply integrated social capabilities. Social interaction is key to the PS4. For the first time ever, gamers can share their epic triumphs with the press of a button. PS4 also enhances social spectating by enabling gamers to broadcast their gameplay in real-time to friends. During live broadcasts, friends can make comments on the streamed gameplay and, if a gamer gets stuck on a challenging level, friends can also help! The console will also feature an all-new wireless controller and two wide-angle cameras which allow for advanced body and face recognition software in gameplay.

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One Giant Leap Forward

Raise your hands and wave hello to the future. The Leap Motion controller senses your individual hand and finger movements so you can interact directly with your computer. Just connect the device and instantly get 8 cubic feet of awesome, intuitive, 3D interaction space. The possibilities are endless. Want to create rich 3D models with flicks of your hand? Done. Securely sign a digital document with a pen? Easy. Immerse yourself in games like never before? Bring it on. This isn’t a game system that roughly maps your hand movements. The Leap Motion controller is 200 times more accurate than anything else on the market. At just about the size of a flash drive, it can track your individual finger movements to 1/100th of a millimeter. The two best details? It’s only $79.99 and it ships in May!

d App

iTunes U Content Tops One Billion Downloads In February, Apple announced that iTunes U content downloads have topped one billion. iTunes U features the world’s largest online catalog of free educational content from top schools and prominent libraries, museums and organizations helping educators create courses including lectures, assignments, books, quizzes and more for iOS users around the world. “It’s inspiring to see what educators and students of all types are doing with iTunes U,” said Eddy Cue, Apple’s senior vice president of Internet Software and Services. “With the incredible content offered on iTunes U, students can learn like never before there are now iTunes U courses with more than 250,000 students enrolled in them, which is a phenomenal shift in the way we teach and learn.”

ure

Feat

Major Milestone in Online Ed

Air Login Brings Your Mac to Your iOS Device We’re a month into 2013. You’ve resolved to amp up your productivity and work smarter this year. So how’s that going? Fear not, Avatron Software’s newest remote login app, Air Login 1.0.2, is here to help—making sure that wherever you go, you have everything you need. Air Login is essentially a zip-line between the iOS device in your hand and your Mac. You can quickly edit files—even Photoshop or Flash—on your iPad, iPhone or iPod touch, using your familiar Mac applications as if they were right there. Realize you forgot to update your client logo on the PowerPoint while waiting in their lobby to present? Air Login allows you to access the file from your Mac at home or office and update the presentation from your iPad. Need to edit the brochure in Photoshop before going to print? Air Login brings the Photoshop app to your fingers. The Air Login download is free on the iTunes app store, and allows full login access to shared computers on a local network, but users must purchase a subscription to the service to use it from remote networks.

tories New Firefox OS Coming Soon

During the recent Mobile World Congress in Barcelona, Mozilla previewed the first commercial build of its Firefox OS open mobile ecosystem and announced new operator rollout. The first wave of Firefox OS devices will be available to consumers in Brazil, Colombia, Hungary, Mexico, Montenegro, Poland, Serbia, Spain and Venezuela. Additional markets will be announced soon. Firefox OS smartphones are the first built entirely to open Web standards, enabling every feature to be developed as an HTML5 application. Web apps access every underlying capability of the device, bypassing the typical hindrances of HTML5 on mobile to deliver substantial performance. The platform’s flexibility allows carriers to easily tailor the interface and develop localized services that match the unique needs of their customer base.

Sound You Can Touch Sound is everywhere, blasting from your computer, cellphone, and car radio. At first, sound existed in invisible waves, and more recently, in iconic visualizations. Now you can hold now it in your hand. Shapeways, an industry leader in 3D printing technology, recently launched The Vibe, an iPhone case you can fully customize with your favorite sound from SoundCloud, the social sound platform. The Vibe is incredibly easy to customize: you connect to SoundCloud, select your favorite sound, and the waveform will integrate into the very structure of the iPhone case. The result is a beautiful, unique protective case, available in top-quality white or black 3D printed plastic. You can mold any sound into your case, from your favorite song to your child’s first words.

MARCH-APRIL 2013 | BUSINESS PARTNERS | 23

The Interview

Car Insurance.

Online. Direct. Hellas Direct. Alexis Pantazis and Emilios Markou, founders of Hellas Direct, speak to Business Partners about their streamlined approach to selling car insurance.

How did the idea for Hellas Direct come about? We first looked into launching our own venture in 2008. We were both working in London at the time and we had invested in a number of start-ups together, which got us thinking what it would be like to set up our own thing. The financial crisis had already hit New York and London and we could see that it was just a matter of time before it spread to the East. Scanning across the broader Southeast Europe area, we were surprised to see that there were no pure directto-consumer insurance companies around, leaving the consumer overcharged and underserved by a series of middlemen and lethargic providers. We had always admired the simplicity of Geico’s business model—by June 2009 we had both left our jobs and starting working on a business plan to build a next-generation car insurance company in the region. What is Hellas Direct’s competitive advantage? We are quick: it takes our average customer 4’42’’ to purchase a policy, with all documents being delivered directly to their inbox. We make things simple: we speak in plain language and we have removed all small print from our policies. Our site is easy to use and we are fully online (we see no need for random documents being faxed here and there). We offer comprehensive covers, with services we know our consumers need. We save consumers money: we use no middlemen, eliminating all commissions and hidden costs. We deal directly with our clients and we are proud to say that we are not for everyone—we focus on safe drivers and we can offer them competitive rates. Still, what we would identify as our long-term competitive advantage is the ability to listen and react with services that our customers truly need. We hire intelligent and passionate people who are driven to change things for the better— you’d be surprised how this comes through in our conversations with clients. How has the reaction been by the consumer to your new business model? Being a new company and competing against established brands, we never ex-

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Alexis Pantazis and Emilios Markou

pected to attract huge interest during out first year of operation. Still, it seems that the Greek consumer is currently re-evaluating all relationships and is open to change. Fed up with the old, the Greeks seem willing to give new ideas a chance. We have been overwhelmed by the level of support we received during our first five months of operation and we have given more than 23,000 quotes to date! The expat community has been particularly welcoming to us. Being one of the few—if not the only—insurance sites available in English (including our policy terms and all documentation), we are able to cater to foreigners living in Greece. How did you convince big name global capital to back this initiative during a very uncertain period for Greece? We have been fortunate enough to have an impressive group of Greek and international investors backing us, people who have built successful businesses around the world. Among them are British venture capitalist Jon Moulton, the Chairman of Goldman Sachs Asset Management Jim O’Neill, and Trifon Natsis, one of the founding partners of Brevan Howard LLC. Raising capital for a Greek investment was not easy. During our fundraising, Greece received the first Euro-area bailout, it was plagued by strikes and political unrest and it changed no less than five prime ministers. The investors who resonated with our message were mostly contrarian thinkers, who were of the view that you cannot wipe out a country and people will always need basic financial services. During our journey, we approached 2,500 targeted investors in 14 different countries and we met with 300 of them. Equally important to finding equity investors was the strategic partnership we implemented with Munich Re, the world’s largest reinsurance company. This is an exclusive, multi-year agreement, whereby Munich Re shares our risk, essentially guaranteeing that our clients get paid in time and in full. It is the first time that one of the world’s leading reinsurers signs on such an exposure in Greece. How is technology changing the global insurance market? The global insurance industry will go through the largest transformation of its history in the next 5-10 years. Traditional players who do not adapt to change will be forced out of business and companies which have not yet been formed

will rise to dominate the sector. Technology has already changed the way consumers interact with financial services companies (smartphones, social media). With the commercialization of cloud computing (faster processing capacity, unlimited memory), one would expect insurance companies to be able to better analyze risk and offer fairer pricing to consumers. At Hellas Direct, we are big believers in innovation and we see the emergence of big data as the trend of the decade. We are already using social media in our underwriting and we use thousands of online factors in our pricing algorithms. More importantly, we are currently exploring a series of telematics and pay as you drive solutions. How do you see the future of the industry and Hellas Direct? The Greek insurance market has been plagued by bad conduct at all levels over the past few decades. The absence of a competent regulator at the end of the century fostered a series of oligopolistic practices and encouraged mis-selling across all distribution channels. The consumer is the person who ultimately paid the bill for this, through obscene commissions (more than 25%), company closures and insurance companies refusing to pay claims. We hope that the economic turmoil we are currently going through will force people to become more accountable and that the regulator will take on the challenge of cleaning up the industry. We would not be surprised if more than a third of the insurance companies currently operating in Greece were shut down. In a fast consolidating market, we wish to be recognized for our professionalism, high quality of service and (for the safe drivers out there) the most competitive prices.

MARCH-APRIL 2013 | BUSINESS PARTNERS | 25

Thought Leaders

Business Partners presents four thought leaders on how Greece may evolve, with a better use of public space, a more enlightened sense of talent, mobility, and leadership, a sound approach to energy exploration, and a more comprehensive policy for the development of tourism. Raymond Matera

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Ideas for a Better Tomorrow MARCH-APRIL 2013 | BUSINESS PARTNERS | 27

Thought Leaders

Sustainable Mobility for Athens City Center

W Stratos Papadimitriou Professor of Transportation Systems at the University of Piraeus

hat do cities like Zurich, Munich, Vienna, Copenhagen, Amsterdam, Paris have in common? They are richer; they have a higher quality of life, and have implemented Sustainable Urban Mobility Plans (SUMPS). One facet of these plans is the creation of extensive pedestrian zones and public spaces in the city center which, along with improvements in the public transport system, have made these cities exceptionally attractive to millions of tourists, thus boosting substantially the local economy.

New York In May 2009, New York City implemented the Broadway Boulevard project, which included new pedestrian zones in Times Square and other areas. Back in July of 2012, the Mayor of New York, Michael Bloomberg, when cutting the ribbon on a new 20-mph ‘slow zone’ was quoted saying: “Our roads are not here for automobiles. Our roads are here for people to get around.” Earlier on he told delegates at the Designing Cities Conference “The streets were there to transport people. They are not for cars…Cyclists and pedestrians and bus riders are as important, if not, I would argue more important, than automobile riders.”

Paris In July 2007, many Parisians were surprised when their mayor, Bertrand Delanoë, announced the creation of a public bicycle sharing system (Vélib’), a car-hire scheme and the expansion of bicycle routes, aimed at reducing traffic in the French capital. “All of these measures—said Vélib’,

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the bus lanes, the tramway—are aimed at revolutionizing urban transportation and reducing private motor vehicle traffic, to curb carbon dioxide emissions and purify the air.” He added, “The fact is that automobiles no longer have a place in the big cities of our times.” Having succeeded with his initial plan, currently he is proceeding with his plan to break up the two-lane urban motorway that has run along the edge of the Seine since the 1960s and return Paris’s riverside world heritage sites to walkers and cyclists.

Athens This discussion inevitably brings to our minds the case of Athens central business district. Where do we stand? What is our policy? What actions shall we take? The fact is that our city center is suffering after years of neglect. Residents are leaving as quality of life deteriorates, tourists find it unattractive, hotels and shops are closing. This economic, social, and environmental degradation needs to be reversed. If there is an urgent time to act and act decisively in implementing actions aimed at transforming the city center, this is the time. In a period of deep economic recession, Athens is called to find a different way to solve its problems and claim a place among today’s major European metropolises. Its streets, like Panepistimiou, have to be transformed from mere driveways of through traffic to lively streets which can be enjoyed by residents, employees and tourists. All of us, either as individuals or as members of associations, chambers of commerce, or citizen groups, must become engaged as concerned citizens and participate as stakeholders in actively supporting change in reviving the heart of our city.

Rethinking Athens An initiative in this direction is the so-called “Rethink Athens” project. It is a multifaceted intervention centered on Panepistimiou Street, extending from Amalias Avenue to Patission Street, and it includes a brand new Omonoia Square. Pursuing a sustainable mobility strategy, the backbone of the project is the extension of the tram line from Syntagma Square and allows for the roadside circulation of private cars and public means of transportation, while the center becomes exceptionally pedestrian and bicycle friendly. The aim is for the city to reclaim its public space and to evolve into a unique place, where citizens from every corner of Athens can meet, both in commercial and leisure activities. Furthermore, Panepistimiou Street will become part of an urban and architectural ‘ring’ that links the pedestrian zone of the archaeological sites with the most significant archaeological museums of the city as well as with the most significant focal points of cultural and commercial activity in the city. As all studies are sponsored and funded by the Onassis Foundation, this project is being realized under a unique and unprecedented public private partnership and collaboration setting.

Moving Forward Up to now the project is proceeding smoothly through the phases of architectural design and all relevant technical studies. As it will be moving forward to the detailed design and implementation phases, there are a number of issues that should be carefully planned and examined to ensure its success as this is a very complex project

which will make fundamental changes to the way we approach the city center. Mitigation measures, such as changes in signal time in the surrounding streets, reallocation of street space and the enforcement of parking restrictions will minimize possible negative impacts. Delivery issues, taxi pick up and drop off points as well as taxi stands should being considered. While bus lanes are being planned for both Stadiou and Akadimias streets, they have to be enforced in order for them to be fully utilized by public transport. Minimizing disruption during the construction phase is another challenge.

A New Model I am confident that this project will act as a catalyst in revitalizing the city center. It goes without saying that it has to be complemented by other actions in the social and economic domain. There will always be skeptics and there will always be resistance to change by some who will claim that the project will disturb the “proper functioning of city life” and see a problem in every solution. However, as previous successful interventions like Ermou and Dionysiou Aeropagitou street have shown us, after an initial adjustment period, almost everyone is happy with the project and no one wants to revert to the old system. We don’t need to reinvent the wheel. Great cities round the world have demonstrated that they do not depend on the private car to bring people to the city center. We must follow these good case studies and adjust them to our own environment and setting. And, as Albert Einstein said, “You cannot solve a problem with the same thinking that created it.”

As Albert Einstein said, “You cannot solve a problem with the same thinking that created it”

MARCH-APRIL 2013 | BUSINESS PARTNERS | 29

Thought Leaders

Talent & Mobility: Redefining Leadership. What do Thucydides and Aristotle Have to Tell Us?

T Prof. James C. Wright Director, American School of Classical Studies at Athens

o answer this question, let’s start by considering talent—a disposition or aptitude toward something. Clearly in this definition talent is related also to skill and desire. There is no point in attaining skill if one cannot use it and therefore the desire to do something skillfully will be stronger if there is a likelihood of fulfillment. No one would dispute that mobility, geographic and social, meaning the freedom to move about and to travel, and the freedom to realize one’s potential within a society, is fundamentally important for the cultivation of talent. What is the environment that fosters talent and mobility? This is pertinent, since where talent and mobility flourish, leadership will too. This is because leadership, though related to charisma, to personality, is tested and achieved in settings where talent and mobility flourish. In this sense I refer to an environment that permits success to be measured by merit, or at least where merit has some role in advancing highly qualified persons. This may not sound very much like an archaeologist speaking, and may also seem somewhat idealistic. Let’s consider some archaeological examples. Mobility is powerful in examining how societies succeeded and developed in antiquity. Recent evidence shows that Crete was inhabited by hominids as early as 150,000 years ago, which could only have happened if these early humans were able to travel across the sea to reach the island. We also have strong evidence to assert that Crete was settled about 6,000 B.C. These settlers probably came from Anatolia and ferried domesticated animals and plants. This “colonization” of Crete by

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early agriculturalists required a group effort and considerable logistics to organize seafaring vessels and a sufficiently large population of animals and humans so that the community would take root. It’s impossible to conceive of such an effort without skill, talent, mobility, and leadership. Mobility is essential for the island settlements of the Aegean, and one of the most striking developments of the Early Bronze Age during the 3rd millennium BC is the establishment of a network of settlements throughout the mainland and the islands that linked up with communities along the Adriatic and Anatolia. We call this the “emergence of civilization” in the Aegean. It is accompanied especially by the rise of copper and bronze metallurgy and commerce in raw materials. In this example mobility, talent, and skill combine in the emergence of craftsmanship and entrepreneurship. Leaders certainly took charge of managing the complex relationships of this milieu. The Aegean and the mainland of Greece encourage these human characteristics and the forms of social, political and economic organization that follow. A particularly apt demonstration of this is the ‘colonization’ movement of Greeks during the 8th-5th centuries BC, when they established settlements over much of the Mediterranean and Black Sea. This great diaspora of Greek-speakers happened in a specific socio-political context: the settlers are known as apoikists (from the Greek αποικία) who were led by an οικιστής, a founderleader, who was often later worshipped as a hero. The leader of the Corinthians who settled Syracuse in Sicily was Archias, a name that implies leadership. Members of these communities were citizens

and enjoyed equal rights (ισοπολιτεία) in the community, including equal distribution of land. As a signal of the economic and entrepreneurial basis of these efforts, some of these cities were originally merchant outposts, known as εμπόρια. Thinking about Greek colonization entails taking into account the important notion of citizenship. The fundamental importance of citizenship and its relationship to leadership is one of the lessons of Thucydides in his History of the Peloponnesian War. In Thucydides’ recounting of the funeral oration that Perikles delivers, the core values of citizenship are laid out. Perikles speaks of the equality of citizens in a democracy. He says democracy encourages men to exercise their talents and strive for positions of leadership. He argues that the place of democracy is the city (πὀλις) where “…we employ wealth more for use than for show, and place the real disgrace of poverty not in owning to the fact but in declining to struggle against it. Our public men have, besides politics, their private affairs to attend to, and our ordinary citizens, though occupied with the pursuits of industry, are still fair judges of public matters; for, unlike any other nation, we regard him who takes no part in the duties of the state not as unambitious but as useless.” (Thucydides II, 40). In this phrase Thucydides emphasizes the responsibility of the citizen to participate in the affairs of the state, including political deliberations, defense, industry, and cultivation of arts and leisure. In short, talent is fostered by the mobility of the citizen; their combination produces leaders, who should inspire their fellow citizens to do their part to advance the affairs of the city. In the development of democracy in Athens there was a tension between the claims of the family and the clan on a person’s loyalty and the claims of democracy to give allegiance to the city. It is to this question that Thucydides has Perikles speak. This tension is mirrored in the comedies of Aristophanes and the tragedies of Euripides and Sophokles—and reverberates today in the struggle to reform the economic, political, social, and religious institutions of modern Hellas. Aristotle considers these matters in his Politics. He lays out his claim that humans are political animals (Ὁ ἄνθρωπος φύσει πολιτικὸν ζῶον) and argues that since it is self-evident that the individual cannot exist without being a member of a community, it is essential that each cultivates the other: “Επιπλέον όμως και το κοινό συμφέρον κάνει τους

Thucydides emphasizes the responsibility of the citizen to participate in the affairs of the state, and these include political deliberations, defense, industry, and cultivation of the arts and leisure. ανθρόπους να ζουν μαζί, αφού τούτο συμβάλλει στο να ζουν καλά. Και τούτος είναι ο μοναδικός σκοπός, κοινός για όλους. Συγκεντρώνονται υια ναζήσουν κι απαρτίζουν πολιτική κοινωνία” [edition KAKTOS, Εκδότης Οδυσσέας Χατζόπουλος] (“Moreover as the common interest leads persons to live together, since this contributes to good living. For this is the sole purpose, the common [good] for everyone. They come together so as to constitute a political community.”) He argues that the state (the πὀλις) is not merely constituted by people living together in houses, by not harming each other, or by engaging in commerce with each other—although such things are necessary, but they are not sufficient unless there is common participation in the goal of good living among families, among generations, and in aiming at a completely self-sufficient life. Aristotle acknowledges the tension between family, clan, and state, but he emphasizes the need for them to come together and support each other for the state to function and to flourish. These examples are very near—Aristotle’s Lyceum lies just above the National Gardens and the Kallimarmaro; Thucydides places Perikles in the Kerameikos Cemetery. Modern Athens and all of Greece is hallowed ground for the institutions of democracy. As business leaders it is good to consider what critically important practical roles talent and mobility play in the cultivation of leadership. Times of crisis are breeding grounds for leadership. The lesson for us is to recognize, as Aristotle and Thucydides argue, that talent and mobility, and the leadership which emerges, are grounded in the cultivation of civic virtues that make life better for all members of the community and for all its institutions, since the combination of these is the sign of a healthy and dynamic state.

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Thought Leaders

The Hydrocarbons of Greece

n the European Commission’s long-term study of energy strategy, only two new sources of energy are identified to cover the ever increasing needs of hydrocarbons in Europe: The North Pole and Eastern Mediterranean. Europe will face a gap of 100 bcm (billion cubic meters) of gas a year, for a total consumption of 500 bcm per year at present, by the year 2018. Between 2020–2025 oil also will reach its peak, becoming rarer and significantly more expensive from then on. The European need for significant new sources of hydrocarbons is well established. In this environment the recent Cyprus and Israel

Dimitrios Vasileios Kokkinos Dipl. Naval Architect, Ingenieur Civil du Genie Maritime, Ingenieur ENSTA, D. Eng (H.C.) Kingston University/U.K., Managing Partner INDEURCOG, Member of I.E.N.E.

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Ionian Basin

Sirt Basin Area likely with NG deposits

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Area with significant NG deposits

discoveries of hydrocarbons in the Levantine Basin, the area enclosed between Syria, Lebanon, Israel, Egypt and Cyprus, are very encouraging for hydrocarbon discoveries in Greece. It is not wise to estimate the oil and gas potential of a country prior to exhaustive collection and analysis of data. The experience to date is that there is a strong possibility of significant reserves, but this, up to now, was not substantiated by exhaustive research leading to proof. Non-industry readers may be surprised to learn that hydrocarbon research, up to and including the drilling of the exploratory well, may cost up to 100 million dollars and only one in seven such drillings is economically viable. For oil companies to undertake this risk a wealth of analytical data is mandatory. Internationally reputable scientists such as Foskolos, Samaras, Konofagos and Zelelides underline the existence of significant hydrocarbons deposits in Greece Advanced 3D type seismic data in a dense grid, the result of the recent work of the specially equipped vessel Nordic Explorer, are just now available for the Ionian Sea and the south side of Crete. This data will be processed and, within six months to a year, will be given to the Greek State and interested companies. Subsequently, the sea area around Greece, with an emphasis on the Ionian Sea and Crete, will be split in blocks and each block will be auctioned to prospective oil companies. We expect by 20162017 to have the first results. From what we know now there are strong indications that hydrocarbon deposits are in existence in the Ionian Sea where there are two expected big blocks, called “Achilles” and “Pyrrus,” west of Corfu. These deposits are in line with existing opera-

tional deposits in Albania and the Adriatic and belong to the same geological composition area. Further down the map, in the Patras Gulf area, we know that there are deposits in Zakinthos, in the Keri area where oil trickles to the surface in small quantities, and in Katakolo, where bubbles of methane gas rise to the surface. Some of these facts have been known since the time of Herodotus. The strong possibility of significant hydrocarbon deposits in the Patras area has been recently confirmed and enhanced by the Nordic Explorer. Initial drilling 30 years ago in Katakolo has found quantities of gas which, with the prices of gas then, was not economic to exploit. There are even more suspected deposits south of Crete, as reputable geologists have indicated, and where intense advanced seismic research now provides enough data to confirm the increased scientific possibility of hydrocarbons to be worthy of exploratory drilling, after further research and data evaluation. There is also a strong possibility of a field southwest of Crete near the Libyan A.O.Z. There are also strong indications of hydrocarbons in other areas of Greece, such as Ioannina, Thessaloniki, Agrinio and of course in the Kavala– Thassos area, to mention a few. To date there has not been a lack of hydrocarbon existence indications but a lack of the systematic continuous research work required to optimize the areas which are more worthy of further exploration and so leading to eventual discovery. In a remarkable continuation of research for Greece, spanning more than one government and a number of years, the spasmodic and ad hoc research of the past has been replaced by a methodical building-up of trustworthy data and a modern, relevant law covering these issues. For the first time following the work of the Nordic Explorer, the Greek State will have a sound base of facts to establish the blocks to be auctioned to the oil prospecting companies. It cannot be emphasized enough that oil companies undertake drilling only after the methodical collection of data of every form, from satellite and aerial surveys to seismic data and geological composition and ground analysis, because of the high cost of drilling. This is increasingly an expensive operation as the data search focuses more and more on smaller areas, which have a higher percentage probability

of hydrocarbon existence. When the data are sufficiently positive, exploratory drilling starts. Once reserves are proven, it remains for the oil company to negotiate the Production Sharing Agreement (P.S.A.) with the state for the drilling to start. It is useful to note that the Greek State has very weak knowledge of P.S.A. negotiations. It is hoped that blocks will be defined by 2014– 2015 and drilling will start by 2015–2016. Without cries of enthusiasm, but with an optimistic attitude, we can reasonably expect some significant hydrocarbon discoveries in the near future. The size of the economic benefit for the country and the State is subject to the size of the discoveries, their location, and the degree of extraction difficulties. However, experts expect a benefit for the State of between 1 to 4 billion Euros per year and thousands of new jobs. There is no doubt among specialists that oil and gas will be found in Greece. How soon and how much are not only subject to mother nature but also depend on the Greek State continuing to work with the spirit shown in recent years.

Zones of high economic and energy-related interest for Greece-Cyprus Discovered hydrocarbon deposits Gas pipeline (proposed by the Prime Minister of Israel)

Corfu Italy

Greek territory

Greece

Turkey

Peloponnese

Kastelorizo Cyprus

Crete

Syria Lebanon

Israel

Herodotus Basin Libya

Areas of high energy-related interest for Greece-Cyprus

Egypt

Internationally reputable scientists such as Foskolos, Samaras, Konofagos and Zelelides underline the existence of significant hydrocarbons deposits in Greece

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Thought Leaders

Redirecting Greek Tourism

A Andreas A. Stylianopoulos President & CEO, Navigator Travel & Tourist Services Ltd.; Chair of the Chamber’s Tourism Committee

lthough Greece is a veteran tourist destination, certain aspects of its product are a bit like the human brain that only uses a small percentage of its true potential. Clearly, a number of things that concern the Greek tourism product need to be reviewed and reconsidered, because this country has many attributes yet to be exploited with product enrichment in mind. Tourism markets have changed remarkably in the last two decades. People at all market levels are more traveled and savvy these days, so every established destination needs to refresh its offering in order to remain a strong player in this game.

Beyond Sun and Sea In the old days it only took sunshine, a sandy beach and perhaps a photogenic row of ancient columns to seduce everyone’s heart and satisfy their expectations. Those were innocent times, but today’s Greece is a member of the Eurozone—no matter how tenuously of late—and can no longer compete as a cheap flip flop holiday destination. Surely it is still a place that captures people’s imagination, but when they come here and see the price of coffee, they start to look for the value that justifies it. Plus Greece must rise above the all-inclusive entrapment that has turned its mainstream tourism into a head to head with countries it cannot viably compete with in terms of cost. Times have changed, but the value is there if creativity and effort are put into it. Redirecting the Greek tourism product has been a heated debate here for over a decade, but the focus has been erratically subjective and often contradictory, particularly where national policy is concerned. The truth is that Greece cannot abandon its sea and sun angle, but what it has to

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do is enrich its value by investing in new niche angles that will open up new and multi-seasonal markets. Certainly there are places in Greece that are still almost virginal and could go either way. The emerging Southwest Peloponnese is a good example, but there’s also a multitude of other destinations that are just being discovered, like Epirus, with infinite potential for premium alternative tourism.

New, Niche Areas In the last few years more alternative tourism options have become available and some superbly organized agro-tourism, naturalist, sportive and action related holiday products are now on offer, particularly in certain rather more obscure destinations of rare beauty. As inbound tour operators and cruise specialists, we are constantly looking for new ways to enhance passenger experience in Greek ports and islands. Gastronomy is in the early stages of being tapped effectively for tourism. There is great potential there, particularly since traditional Greek fare has become world famous for being the healthiest of diets. More and more Greek destinations are becoming aware of the value their superb local products could potentially wield, particularly where gastronomical tourism is concerned. A very interesting effort is Aegean Cuisine, (www. aegeancuisine.gr), which started to brand island gastronomy and is in the process of developing a structured product out of it. This and other similar efforts will go a long way toward organizing all the islands, so as to provide a consistent tourism attraction throughout the Aegean. It is still early days, but it is moving on the right track… Greece is unique in that it has the only archipelago in the Mediterranean, an endless coastline and

a multitude of mainland ports to access unique destinations. A lot of work is in progress to promote some lesser-known aspects of this multifaceted country, because Greece is not just the Acropolis, Olympia, Santorini and Mykonos… One could spend a lifetime exploring the Greek islands and never cease to be amazed. Each has its very own character and secret charm and when one thinks that at best cruise lines only call at 5 or 6 of the 200 inhabited islands (out of more than 3,000), one can imagine the potential. In any case, contemporary cruising can only access a small percentage of them, because of logistics and ship sizes. I’m not going to be original if I say that you cannot build a huge port infrastructure in every small island just to accommodate today’s juggernauts, and even if it were possible, it would most probably destroy any tourist value that comes from authenticity and character. Cement and huge harbor piers tend to overshadow the subtle quality and atmosphere of traditional settlements and small fishing ports.

cruise lines have been very successfully selling sea excursions in the Bahamas and Caribbean for decades. Presently, Greece’s day cruise industry is somewhat behind the times, but a serious venture that will effectively upgrade it would revolutionize the sector’s popularity and also alleviate any insurance related misgivings tour and cruise operators may have in selling sea excursions as part of their programs. Along the same lines Greece must capitalize on a recent favorable legislative reform with regard to diving. Obviously, with an archipelago full of superb diving spots, there is great potential for

A New Network of Transit Hubs

Greece has a wealth of untouched nature, dramatic landscapes, rare flora & fauna, astonishing traditional settlements and amazing historic monuments tucked in the nooks and crannies of its grand mountain ranges.

A creative idea for Greece’s overall future in tourism—and certainly for cruising—is to encourage the development of a contemporary sea excursion industry that will operate modern catamaran or single hull vessels around Greece’s strategic destinations in the Ionian and Aegean Seas. What I mean is utilize larger island and mainland ports with adequate infrastructure, (or strategically develop such to serve a cluster area where a nearby access port is lacking), and thus create a network of transit hubs where large cruise ships can be accommodated alongside. From there, sea excursion vessels will enable passengers to experience the true authenticity of smaller islands and other attractive places that are only accessible to yachtsmen. It will also facilitate access to certain popular islands that are presently being approached at anchor, with all the inconvenience of crowded tender disembarkations. This way cruise lines will be able to truly deliver Greece as a destination and create original programs that will allow them to sell more East Mediterranean itineraries that will attract higher numbers of repeaters.

Sea Excursions—The Future? Between Greece and Turkey, I believe sea excursions are the inevitable future. As far as cruising is concerned, this idea is certainly not new, since

developing this niche holiday product at a very high standard. Finally, Greece is not just about the sea, because the country has some of the most beautiful mountain destinations in the Mediterranean. Apart from excellent ski resorts and other classic alpine holiday products, Greece has a wealth of untouched nature, dramatic landscapes, rare flora & fauna, astonishing traditional settlements and amazing historic monuments tucked in the nook and crannies of its grand mountain ranges. This aspect of Greece probably allows the most room for developing multi-seasonal tourism offerings of great quality and value.

MARCH-APRIL 2013 | BUSINESS PARTNERS | 35

Redefinition of the segmentation of markets

The WorkPlace

Leading

in the Human Age

anpowerGroup, the world leader in innovative workforce solutions, announced at the 2013 World Economic Forum in Davos its annual analysis of the macro-economic forces evolving the world of work. The paper “Leading in the Human Age: Why An Era of Certain Uncertainty Requires New Approaches to the World of Work”1 outlines how companies can reinvent themselves as flexible and adaptable Human Age Corporations in response to chronic unpredictability. Since ManpowerGroup’s announcement of the Human Age — a complex era where talent, as capital once was, is a key driver of economic growth — at the 2011 WEF Annual Meeting, the macro-economic forces conspiring to rewrite the rules that govern our societies, economies and even our interpersonal interactions are growing not only stronger, but more inextricably intertwined. These forces are pushing and pull-

ing in different directions, acting upon one another, and changing their impact on the world, until it becomes impossible to separate their effects-like a Gordian Knot. As the Gordian Knot of uncertainty continues to grow and tighten, agility and the ability to innovate will come to define success. Change must come to be an accepted and expected part of everyday life for individuals, companies and governments. Time for planning will continue to shrink and companies will need to focus on strategic agility in the face of uncertain headwinds. As the forces conspiring to drive the Human Age continue to grow in strength, the traditional lines of bifurcation of our world and societies begin to shift, with new divisions and cracks appearing all the time just as new connections are also forged. These new segmentations, not just of our political and economic structures, but of our social spheres, require dramatic reinterpretation and redefinitions as shown in the picture below:

2012 Adjusting to a New Ecosystem The Human Age

• Bifurcated World: The Reversal Growth Model • Human Dynamics: The Scarcity and Abundance Inversion • Riding the Wave: The Continuous Technology Evolution • The Human Age: Transforming the Ecosystem

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Today’s intertwining macro-economic forces have blurred the lines of economic bifurcation. As economic power shifts between labor markets, new divisions and cracks are surfacing. As new connections are forged, new subsets of political, economic and societal forces emerge. How these forces will redistribute power is difficult to gauge. New inequalities and instabilities drive political and social unrest-fundamentally shifting the power and dynamics between countries, social classes, governments and their citizens.

Economic Evolution: Materialization of Great Inversions Shifting populations within labor markets are impacting both the scarcity and abundance of talent, natural resources, and jobs. In turn, the rapidly changing nature of the skills required in the workplace is driving a disturbing and disruptive mismatch between the skills employers need and the skills the workforce can offer. Another supply-demand conundrum that continues to impact the world’s employment ecosystem is the abundance of low-skilled workers. The world’s skills mismatch has fostered evolutions, including the emergence of a second economy. This concept is grounded in the idea that more jobs have been lost due to technological progress than delocalization, and that overall productivity gains have reduced the number of workers needed to perform those jobs. As productivity gains resulting from technology reduce the number of jobs in some sectors, talent resources are freed up for use elsewhere in the economy.

2013 Leading in the Human Age Why an area of certain uncertainty requires new approaches to the World of Work. • Redefinition of the Segmentation of Markets • Economic Evolution: Materialization of Great Inversions • Technological Evolution: Shifting Sands Accelerate • Certain Uncertainty

Accelerated Technological R&D Technology continues to significantly boost productivity and accelerate innovation, if used right. Wide-spread adoption of recently emerging technologies, including geo-localization, Big Data and mobile platforms and apps, have altered the shape of the world of work. Companies must not only understand the potential of technology, they must also be able to harness it effectively. Although Big Data has the potential to better identify resources, including talent, businesses need to understand how to unlock and sort Big Data, so they can clearly connect its benefits with developing innovative workforce solutions. The continued evolution of technology presents the world of work with opportunities to transform the shape and scope of current work models.

Certain Uncertainty In the Human Age, it is not the case that just one small change is occurring at a time, but each element of the system is dramatically transforming. Economic, political and social turmoil are creating an era of

unpredictability, complexity, tension and reduced flexibility. That is why the Human Age continues to be so complex and chaotic and why the pace of change continues to accelerate. This is what defines the era-a sense of chaos where the only certainty is that nothing can be certain. Redefining systems and values can help encourage greater flexibility and a willingness to embrace change that will help business leaders maximize the power of human potential. The lack of a focused response can have negative consequences for the workforce-and lead to declines in employee engagement and productivity. Engagement remains a major dimension of retention, motivation, and productivity.

Conclusion: Building a Human Age Corporation By establishing a foundation of core business goals, companies can develop a strategy to respond to unpredictable situations that strikes the right balance between the need for built -in flexibility of plan and results. Work needs to be reinvented so that it fits into both capitalism and talentism. In the Human Age, tal-

entism has unequivocally replaced capitalism as the dominant world system, but capitalism has not disappeared-rather the systems of capitalism and talentism are now operating side-by-side. Indeed, the two concepts must work together. Talentism is probably the best path to reinventing a more acceptable and equitable form of capitalism. The challenge facing us today is not to understand exactly how and why this is happening, but rather to begin to build the frameworks, structures, strategies and systems that will allow us to evolve with the Human Age, finding the fixed points within a sea of uncertainty, even if the only certainty is that the world will continue to change. ManpowerGroup’s 10-Step Plan can help companies position themselves as Human Age Corporations, with the ability to respond quickly to fluctuating world and market forces to successfully execute business goals.

“ Leading in the Human Age: Why An Era of Certain Uncertainty Requires New Approaches to the World of Work,” is available for download at: http:// manpowergroup.com/research/research.cfm

Principles for Building the Human Age Corporation WHAT WE USED TO DO…

WHAT WE SHOULD NOW DO…

Rigid, long-term business models, strategies, plans

Create a set of core principle of execution which are flexible and adaptable to uncertainty

Siloed business and workforce strategies

Align workforce strategy to business goals

Segmentation of markets by geography

Segmentation of markets based on similarities, despite geography

Technology to help processes

Technology to drive growth and productivity

Society based vertical hierarchy structure

Develop a “community” based horizontal hierarchy system

Manage teams based on business goals alone

Develop augmented managers to play a wider role in developing growth, coaching teams and individuals

Leaders direct from the top in isolation

Leaders should work collaboratively to drive performance

Train individuals for the role they are currently in

Train individuals for the role they will likely take in the future

Find talent where the work is

Take work to where the talent is

Capitalism directs the company

Use Talentism to direct the company

MARCH-APRIL 2013 | BUSINESS PARTNERS | 37

The World of Work

Randstad Workmonitor

Women in Leadership Randstad Hellas is a leading HR services company in Greece and each quarter, since 2010, conducts the Workmonitor survey to capture labour market trends locally.

he Randstad Workmonitor survey for 1st Quarter 2013, explored women in leadership, quarterly mobility, confidence and job satisfaction. In Greece, according to the latest findings of the Randstad Workmonitor at the majority of Greek employers, senior management is more often male rather than female (64%). Other countries that have more male rather than female managers include China (90%), India (80%), Japan (78%) and Turkey (75%).

Gender Quotas 42% of those surveyed in Greece stated that they believe men are far better suited to lead a company. Only 29% of those surveyed locally believe that women are better suited to lead a company. Interestingly, those

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surveyed in Spain (56%), Chile (57%) and Mexico (50%) share a higher preference for female leadership. While 70% agreed that they believe in diverse and balanced male/female leadership teams, 52% of those surveyed agreed that personally they would prefer to have a male manager rather than a woman. Only 26% agreed with the statement ‘I would much rather have female manager than a male manager.’ When asked if gender quotas would work as a lever to promote more women in leadership positions, 50% agreed with this in Greece as opposed to 57% globally.

Leadership Opportunities and Earnings The survey found that in Greece 50% of employers encourage women to pursue leadership positions. However, 62% lo-

cally agreed that it is harder for women to be promoted for leadership positions over men. In Greece, 69% of those surveyed aspire to a leadership position. Three in four (76%) employees in Greece state that men and women are rewarded equally in similar positions by their current employer.

Part-time Work Working part-time in a managerial role is rarely accepted by employers in Greece. Only 25% stated that it is accepted locally. Other countries where it is less accepted include Japan (20%), Hungary (24%) and Turkey (23%). 68% agreed that by working part-time employees hinder their career in Greece.

Mobility Index Decreases The Randstad labor market “mobility index” assesses employee’s readiness to change jobs within the next six months. This is based on people’s current job satisfaction, their fear of being fired, their need to find new personal challenges and confidence in finding a job elsewhere. The mobility index for Greece decreased from 100 for Q4 2012, to 97.8 in Q1 2013. This result indicates that fewer employees expect to be employed elsewhere in the coming 6 months than they did last quarter.

Of those surveyed in Greece in Q1, 17.4% stated that they changed jobs in the last six months, an increase of 1.3% since Q4 2012. 36% of those surveyed indicated that the changed jobs in the last six months for better employment conditions and 31% had personal desire for change.

Confidence in Finding a New Job in Greece Of those surveyed locally 38.6% expect that they would be able to find a comparable job within the next six months which is a slight increase from the Q4 2012 result of 37%. Fear of job loss increased slightly increased slightly in Greece from 44% in Q4 2012 to 45.5% in Q1 2013.

% of employees by country who believe men are better suited to lead a company

52% 42%

51%

50%

41%

27% 23%

CHILE

22%

FRANCE

GREECE

HUNGARY

JAPAN

SINGAPORE

23%

SPAIN

SWEDEN

TURKEY

69%

67%

ITALY

SPAIN

GERMANY

Job Satisfaction While employees in countries like Norway (81%) and Denmark (79%) have the highest job satisfaction levels, the latest Workmonitor survey reveals employees in Greece (52%) and Hungary (41%) are the least satisfied. The job satisfaction rate in Greece remains the same as in Q4 2012.

Job Satisfaction by Country

81%

79% 65%

63%

The Randstad Workmonitor

52%

The quantitative study is conducted via an online questionnaire among a population aged 18-65, working a minimum of 24 hours a week in a paid job (not self-employed). The minimal sample size is 400 interviews per country, using Survey Sampling International. The sample size in Greece was 405 interviews. Research for the first wave in 2013 was conducted during 18 to 31 January 2013.ďż˝

41%

HUNGARY

NORWAY

DENMARK

TURKEY

GREECE

Shaping the World of Work Randstad specializes in solutions in the field of flexible work and human resources services. Our services range from regular temporary staffing and permanent placement (professionals), HR Solutions â&#x20AC;&#x201C; Outplacement and Outsource Payrolling. The Randstad Group is one of the leading HR services providers in the world with top three positions in Argentina, Belgium & Luxembourg, Canada, Chile, France, Germany, Greece, India, Mexico, the Netherlands, Poland, Portugal, Spain, Switzerland, and the United

States as well as major positions in Australia, Japan and the UK. In 2012 Randstad had approximately 29,300 corporate employees and around 4,500 branches and inhouse locations in 39 countries around the world. Randstad generated revenue of 17.1 billion euro in 2012. Randstad was founded in 1960 and is headquartered in Diemen, the Netherlands. Randstad Holding nv is listed on the NYSE Euronext Amsterdam, where options for stocks in Randstad are also traded. For more information see www.randstad.gr

MARCH-APRIL 2013 | BUSINESS PARTNERS | 39

Leadership Tales From Ancient Greece

An Apple for Sparta

by Artemios Miropoulos

In his history novels ‘Gates of Fire’ and ‘Tides of War’ Steven Pressfield creates powerful images that stick in our mind.

wo armies face each other; another one of the endless battles between Greek City States of classical times is about to begin. Soldiers are resting their long spears, heads pointing upwards. The forest of spearheads of one of the armies is trembling with unease. The tips of the other are steady and relaxed. Heavy infantrymen, hoplites, on both sides, same type of armor, round shields; one side has them decorated with elaborate scenes from the Greek mythology aiming to intimidate the opponent. Heads of the Medusa, Daemons, Gorgons, Nemesis. They are the uneasy ones. The other side has no fancy decorations, just their initials, the Greek Lambda, ‘Λ’ from Lacedaemon; Spartans. That was enough to cause fear. I was watching one of Walter Isaacson’s presentations recently on Steve Jobs biography when the powerful simplicity of both insignia, the Spartan Lambda and Steve Jobs’ Apple, struck me as obvious. Both are a choice of purity—focused, lean, powerful, and stylish. Isaacson describes Jobs’ ability to focus with intensity, filtering out distractions, re-

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lentlessly pointing his laser-like attention to whatever priorities engaged him. In classical times, where battles were fought shoulder to shoulder, the shield of each soldier covered the exposed right part of his companion to the left, but protection was never enough. The last soldier on the right had no such cover and pulled his shield a bit more than his mate to the left would have liked. All hoplites of the line pushed for safety to their right. The same happened on the other side and so, during battles, the opponent formations unwillingly kept sliding away from each other. Soldiers struck the opposite shield and then the next and the next, hoping it would pass, subconsciously resisting to the madness of slaughter. All except the Spartans. There was no sliding when Spartans were involved; they had been trained to focus and struck to their counterpart until he was down.

The Purity Ethos Both Apple and Sparta also made a choice of purity. Jobs, in his obsession for perfectionism, sacrificed the hacker ethos, which calls for multiple interfaces and compatibility with all

sorts of devices and systems. Apple software operates almost exclusively in Apple hardware. Jobs was allergic to the thought of unapproved apps or content polluting the perfection of an Apple device according to Isaacson. Myth says Spartans threw their dysmorphic infants in a cave called Ceadas, striving for genetic perfection and blood purity, choices that were additionally secured by their immense introversion. They had virtually minimum exposure to other civilizations through trade, no sailing fleet, their allies inhabited in geographical proximity and whenever they exited Peloponnese it was for the purposes of a military campaign. Like the founder of Apple, they too had their dark side. Although slavery was a world-wide accepted practice at the time, it was unheard of for Greeks to enslave Greeks. Except for the Spartans. According to tradition, the highly religious Spartans, who marched to battle with their long hair chanting religious hymns, had the Messinians, a neighboring Greek race of the same ancestral blood trace, under the most ruthless oppression. A whole enslaved society living and working under dreadful condi-

The Spartan Approach Apparently there is limited room for extensive comparison. However, the most intriguing and fascinating commonality is that both Apple and Sparta turned simplicity into art. One connected the beauty of leanness to power, the other to technology. According to Isaacson, Steve Jobs had an instinct to zero in on the essence of a thing and eliminate unnecessary components. Fewer buttons, fewer led lights and port holes, all well hidden to preserve the elegant austerity of the main form. And Apple’s packaging counters all marketing rules. No instruction strips, no price discount flashes or bold colorful headlines, just white with the thin profile of what’s inside, creating a sense of pleasant impatience. In a city state where the wooden roof beams were by law deprived of the carpenter’s finish-

Drawing by Vasilis Evdokias

tions, men forced to wear dog skins on their heads as a sign of inferiority and submission while young Spartans assassinated Messinians who exhibited traits of leadership in night raids as part of their graduation from the Agoge, the Spartan school of war.

When king Demetrius I of Macedon was informed that the Spartans requested an audition, he expected a group of ambassadors; instead he was visited by a single envoy. When he exclaimed angrily that the Lacedaemonians had sent only one ambassador to his court, the Spartan answered: Aye, one ambassador to one king.

Simplicity Into Art— Steve Jobs “Simplicity is the ultimate sophistication” was on Apple’s first marketing brochure. Simplicity that comes from conquering, not ignoring, complexity. Isaacson says that Jobs was striving to understand the

There are times when leaders must sense they are alone, take their risks and accept the consequences as Jobs did ing touch for the purpose of austerity, straight lines and minimalistic Doric architecture created unique distinct forms in temples and public buildings, all in human proportions, unlike the later grandiose Roman style. There was a time Jobs and his staff were struggling to decide on product line strategy. Jobs made a two-by-two matrix: “home, office, desktops, laptops”; four products.

exact function of each component so that he could eliminate it. Herodotus describes the scene when a group of political refugees from the island of Samos addressed the Spartan ephors, requesting aid. They made a long elaborate speech by the end of which the Spartans answered they had forgotten the first half and they couldn’t make much of the second half. The Samians were given

Artemios Miropoulos (a.miropoulos@linkagegreece.com) is the Managing Director of Linkage in Greece and the Chairman of the AmCham Leadership Committee Vision 2020

a second chance the following day. By then they had probably learned the trick, as this time they simply showed an empty bag and said ‘the bag needs flour’. The magistrates consented to provide aid, but noted they did not need to have said “the bag.” Business leaders are called upon making their own decisions and choose what not to do, reducing the mediocre that is the result of compromise and consensus, sometimes even resisting the holiness of concepts such as empowerment and ownership. There are times when leaders must sense they are alone, take their risks and accept the consequences as Jobs did. Apple was not always strong. There were times of doubt, with all odds against Jobs, but he took his risks with a daring defiance and did not give up on style.

“If” It was 338 BC and Fillip II, father of Alexander the Great, had conquered Greece after beating the allied forces of all major Greek City States led by Athens and Thebes at Chaeronia. All except Sparta again, only this time it was probably out of respect to the heritage and the contribution of the city during the Persian wars. Sparta was at the twilight of its history, in deep decay and demographically old. Its deterrent capacity had diminished as the men capable of battle were less than 5,000 and their battle techniques were outdated. The army of Thebes, which was led by brilliant leaders and was fighting in innovative formations, had reached the outskirts of Sparta and missed ravaging it by a turn of luck. The Spartans wouldn’t submit to this new reality though. They kept challenging the power of the rising Macedonian empire; they were even plotting against them with the great Persian king. Still, no one really wanted to see Sparta on its knees. It is like the reverent figure of a beloved grandmother who has lost it—you may be annoyed but you are kind and tolerant. Myth says the Macedonian king send a messenger, with a warning of his diminishing patience. “If the king enters the Peloponnese he will raze the city of Sparta.” When the envoy requested the answer to King Philip, the ephors of Sparta replied with one word only: “If.”�

MARCH-APRIL 2013 | BUSINESS PARTNERS | 41

TradeMakers

EU-U.S.

by Rodi Kratsa-Tsagaropoulou Member of the European Parliament EP Vice-President (2007-2012)

Free Trade for Global Growth The EU as the world’s biggest trader, accounting for 20% of global imports and exports, has a significant role to play in promoting free and fair trade by engaging in greater cooperation with its major strategic partners, particularly with the U.S., to boost growth and jobs.

he EU-US negotiations on a comprehensive EU-US Free Trade and Investment Agreement is an area of great strategic importance. According to European Commission estimates, a deal could increase output by 122 billion € annually for Europe alone, and in the long-term, increase EU GDP by 0.52%, benefiting industries ranging from chemicals to automakers and services. Recent President Obama’s statements are very encouraging towards this direction

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The transatlantic economy generates close to $5 trillion in total commercial sales a year and employs up to 15 million workers; it represents over 50% of world GDP in terms of value and 41% of GDP in terms of purchasing power

and significant progress has been achieved during the last few months in the negotiations between the two sides. The final report from the EU-US High-Level Working Group on Jobs and Growth have paved the way for launching negotiations on a comprehensive and promising transatlantic trade and investment agreement with the aim of concluding the negotiations in the next two years. The EU and the US share common values; they have sophisticated legal systems in place, respect intellectual property rights and advocate free trade. No other commercial artery in the world is as integrated. The transatlantic economy generates close to $5 trillion in total commercial sales a year and employs up to 15 million workers; it represents over 50% of world GDP in terms of value and 41% of GDP in terms of purchasing power. The United States and the European Union are the world’s largest sources and destinations for foreign investment and remain each other’s most important markets. However, the global crisis has affected our bilateral economic relations. We now need to make ambitious decisions; hence boosting transatlantic investment and commercial exchanges further will benefit companies and workers by creating high-paying jobs, increasing exports, and spurring innovation in both the United States and the European Union. Furthermore, trade negotiations should seriously take into account the specific needs and interests of SMEs, by defining their priority markets, simplifying their access to markets of third countries and ensuring transparency of the regulatory framework and equal access to public procurement for companies from both sides. There are sensitive points on both sides which hinder the negotiations such as agricultural products, intellectual property rights, the airline sector but we need to address them to reach a win-win and viable agreement. Deeper cooperation between economic partners will lead to further convergence in areas such as financial regulation, taxation and budgetary and structural reforms as well as climate change, will build the foundations for a real transatlantic com-

munity and will contribute to international stability. These dynamics will create positive tensions that would also mobilize other key developing economies to open their markets, liberalize trade within the WTO framework or at least give a dynamic push to bilateral agreements. Towards this direction, the EU is currently negotiating a free trade agreement with the Mercosur countries which would encompass 750 million people and $130 billion of annual trade. The trade agreement reached with South Korea and the one with Singapore are among the most comprehensive the EU has ever negotiated and will create new opportunities for companies from Europe

fully involved in the EU common trade policy and our experience indicates that tariff but also non-tariff measures and behind-the-border measures are identified as the most important obstacles to opening markets further. We need to ensure protecting the sensitive interests of producers from both sides as well as tackle technical trade barriers in order to minimize unnecessary impediments which are often used as an excuse for protectionism (e.g. differences in regulations, standards, testing and certification procedures). Regarding public procurement, an estimated €12 billion of further EU exports remain unrealised due to restrictions. Nowadays 90% of the EU procurement market is open to

Boosting transatlantic investment further will benefit companies and workers by creating high-paying jobs, increasing exports, and spurring innovation in both the United States and the European Union

and Asia to do business together. The Irish Presidency of the Council of European Union will also seek to advance Free Trade Agreement (FTA) negotiations with Japan, India and other partners, and to advance the EU-China relationship with a focus on investment protection and market access. Moreover, the EU is interested in negotiating a free trade agreement with the Gulf Cooperation Council (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab Emirates, Jordan and Morocco). The European Parliament ,as co-legislator, is

third countries, while the respective percentage is 32% in the USA, 28% in Japan and 16% in Canada. Today it is generally accepted that the free trade agreement between EU and USA can create new promising conditions for growth and exiting the global economic crisis, create sustainable perspectives for business opportunities and jobs. We need to continue working, on both sides, towards this direction through willingness, commitment and shared responsibility for a better common future.�

MARCH-APRIL 2013 | BUSINESS PARTNERS | 43

TRENDS & TRADE MAKERS

Should Grandma Join Facebook? For older adults looking to sharpen their mental abilities, it might be time to log on to Facebook. Preliminary research findings from the University of Arizona suggest that men and women older than 65 who learn to use Facebook could see a boost in cognitive function. Janelle Wohltmann, a graduate student in the UA department of psychology, set out to see whether teaching older adults to use the popular social networking site could help improve their cognitive performance and make them feel more socially connected. Her preliminary findings, which she shared this month at the International Neuropsychological Society Annual Meeting in Hawaii, show that older adults, after learning to use Facebook, performed about 25 percent better on tasks designed to measure their ability to continuously monitor and to quickly add or delete the contents of their working memory—a function known in the psychology world as “updating.”

Health and Wellness —Center Stage in Food and Ingredient Market Health and wellness are twin pillars driving developments across the food industry in 2013, according to “Food Formulation and Ingredient Trends: Health & Wellness,” a justreleased study from market research firm Packaged Facts. According to the report, growing consumer interest in more healthful food will propel additional development of food and beverage products that deliver health-related benefits, especially in the following areas: • Better Breakfasts The report sees the rise of products that combine two better-for-you breakfast elements: whole grains and low-fat dairy. • Healthier Snacking Packaged Facts expects portion controlled, single serve snacks of all types will be hugely popular in the coming year. • Alternative Proteins High protein ancient grains, including amaranth and quinoa, will be incorporated in more foods promoted and consumed for their protein content.

Call for Smart, Sustainable and Inclusive Growth Capital cities from around the EU, including Athens, have adopted a louder voice in discussions for the Multiannual Financial Framework 2014-2020 and other EU programs. According to a declaration signed by 28 mayors, Europe’s capital cities are not only a major part of the EU’s image abroad, its cultural identity and attractiveness, but powerful motors for competitiveness, employment and innovation. Capital cities are indispensable to sustainable growth since their transport, energy and environmental policies have a decisive impact on EU policies. EU capital cities are also at the heart of efforts for inclusive growth: as centers of social, cultural and ethnic diversity. At the same time they have a concentration of Europe’s problems, including increasing social and economic disparities. Capital cities are therefore the laboratories where solutions to the EU’s social and economic problems must be found.

44 | BUSINESS PARTNERS | MARCH-APRIL 2013

Dr. Kostas Axarloglou, Associate Dean for Executive Education, ALBA Graduate Business School Fulbright Scholar 1986-87

Tell us about your Fulbright project in the United States. I received a Fulbright Scholarship to study economics towards my Ph.D. at the University of Michigan, Ann Arbor. Did studying at a U.S. institution make a difference for you? I feel that it is redundant to elaborate on the quality of the scientific community at Michigan and the academic excellence of the Economics Department, virtues that also characterize most U.S. universities and colleges. However, what was really a revelation to me was the meritocratic system at the University of Michigan (and in U.S. higher education in general) that is based on four dimensions: incentives, performance monitoring, assessment and, finally, implementation of rules and processes. Specifically, a set of clear incentives and close monitoring of individual performance helps graduate students to excel in science, while performance assessment allows them to develop precious capabilities such as self-awareness, modesty and drive for higher achievement. Finally, the implementation of rules and processes results in a sense of fairness of the academic institution. How do you think the experience impacts your career path? Besides scientific advancement, my studies at Michigan, due to the Fulbright Scholarship, helped me to develop a meritocratic culture that is so pivotal and important for the advancement of science (through research) and the dissemination of scientific knowledge (through teaching).

W Best Sites to Watch Free Documentaries Online

www.freedocumentaries.org—streams full-length, thought-provoking, educational, and entertaining documentary films for free, with no registration required

Skilled Workers Back in Demand in 2013 PayScale, Inc., the leader in compensation data and software, recently unveiled the results of its annual survey of employers in 13 countries on compensation best practices. “The results of the 2013 Compensation Best Practices Report show more optimism amongst small and large businesses than in past years,” said Katie Bardaro, Lead Economist and Director of Analytics at PayScale. Highlights from the report: • A whopping 70% of small businesses -- and 61% of large companies -- expect their business performance to improve in 2013. • Companies are planning to invest in new talent to grow their business with 15% more companies planning to hire in 2013 than in 2012. • The number of organizations hiring employees has consistently risen, with 2012 growth exceeding original expectations by 12%. • In 2012, small business wage growth increased significantly, demonstrating the little guy is competing with large companies for skilled employees. • As more companies look to hire in 2013, skilled labor is in demand. In the survey, 59% of respondents cited retention as a main concern.

www.topdocumentaryfilms.com—full documentaries and information on documentaries by quoting reviews from trusted sources www.documentaryheaven.com—offers a vast collection of documentaries spanning many genres www.documentarywire.com—offers a large collection of free, interesting, and educational documentaries www.opendocumentaries.com—maintains a documentary database with a lot of documentaries for you to view for www.documentary.net—offers a large catalog of full length, free documentaries on a wide range of topics, such as nature, politics, science, and history www.science-documentaries.com—informative, revealing, interesting, and mind-boggling scientific documentaries and lectures about such subjects as astronomy, biology, mathematics, physics, IT, and technology  source: howtogeek.com

EI B to increase lending for growth and jobs

E.U. T C E R I D

The European Investment Bank (EIB) Group will significantly step up its lending activities for the 2013 to 2015 period to support the recovery of growth in Europe. The EU Bank will lend an additional EUR 60 billion over the next three years to promote sustainable growth and jobs, bringing annual lending volumes to EUR 65-70 billion. Werner Hoyer, EIB President commented: “Last year the EIB has delivered on changing its course fundamentally from a programmed cyclical to a countercyclical course. We are now prepared to deliver on boosting our lending activities by 40% per year from 2013-2015.” It is expected that the additional EIB lending will initiate projects worth up to EUR 180 billion including private and public investments, focusing on innovation, SME’s access to finance, resource efficiency and strategic infrastructure. “Investing in innovation and skills is crucial for Europe’s productivity and will help secure competitiveness and jobs in the future,” President Hoyer said.

Umano Bringing Radio Back While radio was the first medium used for broadcast journalism, its appeal has diminished with the arrival of the Internet. News reported on the radio simply cuts to the facts without providing much insight. Whereas on the Internet, thoughtful, well-written journalism is being produced every day. Great journalists work hard to provide a compelling story that strikes emotion; a feeling rarely evoked by modern radio. Umano, the mobile application taking the world by storm, wants to change that. Umano takes insightful content found online and has professional voice actors tell the story. The amalgamation of high-quality journalism and convenient delivery is what sets Umano apart from traditional radio.

MARCH-APRIL 2013 | BUSINESS PARTNERS | 45

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In information technology, “big data” is a collection of data sets so large and complex that it becomes difficult to process using on-hand database management tools or traditional data processing applications. The trend to larger data sets is due to the additional information derivable from analysis of a single large set of related data, as compared to separate smaller sets with the same total amount of data, allowing correlations to be found to spot business trends, determine quality of research, prevent diseases, link legal citations, combat crime, and determine realtime roadway traffic conditions. What is considered “big data” varies depending on the capabilities of the organization managing the set, and on the capabilities of the applications that are traditionally used to process and analyze the data set in its domain.

Data sets grow in size in part because they are increasingly being gathered by ubiquitous information-sensing mobile devices, aerial sensory technologies (remote sensing), software logs, cameras, microphones,

The Rise of Big Data

radio-frequency identification readers, and wireless sensor networks. In fact, “big data” sets about our behaviors as individuals and as consumers are being constantly generated from our daily activities. For example, • RFID (radio frequency ID) systems generate up to 1,000 times the data of conventional bar code systems. • 10,000 payment card transactions are made every second around the world. • Walmart handles more than 1 million customer transactions an hour. • 3 40 million tweets are sent per day. That’s nearly 4,000 tweets per second. • Facebook has more than 901 million active users generating social interaction data. • More than 5 billion people are calling, texting, tweeting and browsing websites on mobile phones.

Dining: For Business and Pleasure

Funky Gourmet Founded as Funky Gourmet, Private Cheffing in 2007, chefs Georgianna Hiliadaki and Nikos Roussous, together with Argyro Hiliadaki, came together with the idea of radically transforming catering into an haute cuisine experience. In 2008, they established their premises in a charming neoclassical building at the corner of Paramythias 13 and Salaminos, in the bustling neighborhood of Keramikos. In 2009, the owners launched a meticulous restoration of the building, resulting in a stunning, minimalist dining environment—and the birth of the Funky Gourmet restaurant. Since then, Funky Gourmet has been dazzling local and international diners alike

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with a carefully designed menu of modern creative cuisine based on advanced culinary techniques and top quality seasonal ingredients. But don’t take our word for it—in 2012, Funky Gourmet was awarded its first Michelin star—one of just four restaurants in Athens to hold the coveted prize. Each of the restaurant’s three degustation menus let diners sample the incredible depth and range of the Funky Gourmet kitchen, including Lamb Giouvetsi with Warm Parmesan Foam, Truffled Foie Gras, and Beef Cheeks. An optional wine

pairing provides the perfect match of Greek and foreign varietals. Adorned in contemporary art and sculpture, the restaurant’s main dining area is a chic, glass-enclosed room that comfortably seats 30. Downstairs, Funky Gourmet sports an elegant wood-paneled bar and art deco lounge, along with a private dining room that can accommodate up to 14 guests (which the proprietors can outfit with a projector, for a discreet-yet-delicious business meetings). The restaurant can also be booked for private events on Sundays and Mondays. Reservations recommended. Funky Gourmet 13 Paramythias St. and Salaminos, 10435 Athens T: +30 210 5242727

The Business Bookshelf

Hidden Champions of the Twenty-First Century The Success Stories of Unknown World Market Leaders Hermann Simon

What do Tetra aquarium supplies, Elector-Nite sensors, and Nissha touch panels have in common? They are typical “hidden champions,” medium-sized, unknown companies that have quietly, under the radar, become world market leaders in their respective industries. Hermann Simon has been studying these hidden champions for over 20 years, and in this sequel to his worldwide bestseller, Hidden Champions, he explores the dramatic impact of globalization on these companies and their outstanding international success. Going deep inside more than a thousand hidden champions around the world, Simon reveals the common patterns, behaviors, and approaches that make these companies successful, and, in many cases, able to sustain world market leadership for generations, despite intense competition, financial pressures, and constantly evolving market dynamics. Hidden champions teach us that good management means doing many small things better than the competition—quietly, with determination, commitment, and never-ending stamina. And in turbulent economic times, the hidden champions represent an antidote to the short-sighted and excessive practices that have brought many corporate giants crashing down.

Jargonaut Authortisement Slang for the name of a book, pamphlet, or seminar written by a person who did it just to get hired as a consultant in that field.

Belly-Button The online world counts eyeballs. The insurance and managed care industries count “belly-buttons.” One belly-button is the equivalent of one person. “That insurance policy covers five belly buttons.”

Earn Out A phrase used by venture capital investors (and private equity firms) to describe a formula in which the management of a company earns a share of the company’s capital by achieving results at or above predetermined levels.

Flame To send nasty or insulting messages via e-mail or to post them on a newsgroup or a blog.

Huge Pipes

THE LIST

by Travelogue

Slang for a high-bandwidth Internet connection.

The Top 10—Rafting in Greece By Andreas Stylianopoulos President, Navigator Travel & Tourist Services Ltd

Mail Bomb

Arachthos River—Tzoumerka

An e-mail message with huge binary files attached to it, sent to crash the recipient’s mail server (the server that houses e-mail) or mail reader (a software program for e-mail).

Megdovas River—Evritania Pefko River—Western Macedonia Pinios River—Thessaly

Arachthos River

Evinos River—Nafpaktos Loussios River—Karytaina Alfios River—Arcadia

Tavropos River

An expression used for prosperous, middleaged married couples living child-focused lives in affluent suburbs.

Voidomatis River—Zagori

Tavropos River—Karpenisi Voidomatis River

Kids and Cabernet

Vishing Derived from the terms “voice” and “phishing,” vishing is the online scam of stealing personal information or money from individuals using the telephone network, specifically VoIP telephony services. Reproduced by Permission © 1994-2010 NetLingo® The Internet Dictionary at http://www.netlingo.com

Aos River—Konitsa

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ViewPoint

The average tenure of a Fortune Global 500 CMO has been compared to the lifespan of a fruit fly. Why is the position so precarious?

Embracing Big Data Can Add Years to a CMO’s Tenure

n a recent article for Chief Marketer, Wilson Raj, SAS Global Customer Intelligence Director, tackles this question and offers a solution: Evolve. Become a new breed of CMO—one who recognizes big data as the fundamental consequence of our new market landscape, and takes advantage of it with high-performance analytics. Raj makes a strong case that CMOs who adopt an integrated marketing management strategy with big data can make a substantial impact in these four key areas:

1. Customer experience In the past, marketers analyzed customer feedback with minimal consideration of operational and financial data. Big data offers rich insight unachievable by examining customer feedback data alone. For instance, CMOs can use operational data in call centers (for example, wait times or

time to resolution) to improve the customer experience across channels. Operational data can also reveal training opportunities to enable front line staff to deliver better service.

to keep valuable customers loyal in a brandfickle world. Further, big data analytics can help CMOs allocate resources to drive revenue through successful loyalty initiatives.

2. Customer engagement

4. Marketing optimization/ performance

To engage your customers successfully, you must know who they are, where they are, what they want and when they want it—across all channels. This is a huge challenge for marketers, but with big data analytics CMOs can exert tremendous influence on customer engagement. They can find out what needs to change to achieve positive customer engagements, and, better still, what customers want.

3. Customer retention and loyalty Big data lets marketers augment existing customer touch points and anticipate new ones

The American-Hellenic Chamber of Commerce

As marketers shift budgets from traditional to digital marketing channels (email, social media, search engine optimization, display advertising and mobile), CMOs need to know the optimal marketing spend across multiple channels. With big data, CMOs can continuously optimize marketing programs through testing, measurement and analysis. With a test-and-learn approach, CMOs can deliver on the key determinant of longevity: return on investment. The bottom line: CMOs who capitalize on big data will reap big rewards, both personally and professionally.�

BUSINESS

Become a Member

bponline.amcham.gr

To become a member of the American-Hellenic Chamber of Commerce, one of Greece’s most preeminent and proactive business organizations, apply on the Chamber website at www.amcham.gr, send an e-mail to info@amcham.gr, call the Chamber at 210-699-3559, or fax the Chamber at 210-698-5687-7 and request an application form.

To subscribe to Business Partners, send an e-mail to info@amcham.gr, call the Chamber at 210-699-3559, or fax the Chamber at 210-698-5687-7.

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