In the summer of 1982, I worked for Donald Regan, then the US secretary of the treasury under President Reagan. I was about to go into my final year at Wharton and, having worked many summers at Estée Lauder Companies since age 13, was no stranger to office life. But in this role my title was “special assistant to the special assistant”—not what I had anticipated.

On my first day, I was brought to a smallish office where three women sat typing. I assumed that the one empty desk was mine, but one of the women waved me away. “I’m your assistant,” she said. “Your office is there.” She pointed me into a cavernous room four times the size of the space I have today. On the massive table inside was a folder stamped “TOP SECRET,” with instructions—in red—on what to do once its urgent contents were reviewed. I was terrified to touch it, much less open it. I felt as if I’d been cast in a Frank Capra movie: “Mr. Lauder Goes to Washington.”

Now, it turned out that the office had belonged to a Secret Service official who’d just retired, that the file was left for him and not me. The mail room guy came to pick it up immediately. But that experience, while humorous, caught my attention. I found myself in a higher-level job than I’d ever had, a fact that put me on the alert and made me more impressionable. So, when I finally met alone with Regan—there I was, a 22-year-old, presenting an energy-pipeline policy memo to the treasury secretary of the United States—his words and actions had lasting impact. The previous head of Merrill Lynch and a former Marine, Regan had a direct, and directive, style. Marching into our meeting two minutes early (unusual for a politician), he glared at his watch and then at me. “Lauder!” he barked. “I give this advice to all my reports: If you’re not in control of your calendar, you’re not in control!”

That advice sounds simple, but to this day it has helped shape our company’s unique strategy, how I manage myself and my philosophy on motivating people. At Estée Lauder Companies, we have 28 completely differentiated brands. None of them, except the flagship, has the words “Estée Lauder” on the packaging. It’s impossible for any one individual to oversee that many businesses—it would be like herding cats. We have talented brand managers in place; my job is to ruthlessly manage my time, remain easily accessible to all 28 brands and continually let people know I’m available. Every morning I scan a printout of my calendar, making sure I’m not in meetings I don’t need to be in and not setting myself up for a mess. (Am I slated to give a speech two miles away, with only five minutes to get there? If so, I’m doomed.) My office door stays open, my desk faces the hall and I don’t have one of those intercom things—I get up and walk around. Managers here are clear on what I’m up to, and if they need to get time with me, they can.

This approach yields inspirational benefits, too. When your employees know that you respect their time, they’ll reward you with terrific performance. In 1990, when we were launching the Origins skin-care line, I got our tech department to install some of the first scheduling software on the market. Overnight we went from eight individuals scrambling to get things done to a coordinated team. But more important, those people saw tangible evidence their time was invested in and treated with care. They responded by creating an incredible brand that’s still one of our best sellers.

When I see people waste time, I call them on it immediately. Time is their greatest resource, and when it’s gone, it’s lost forever.

The best advice I ever got

In the summer of 1982, I worked for Donald Regan, then the US secretary of the treasury under President Reagan. I was about to go into my final year at Wharton and, having worked many summers at Estée Lauder Companies since age 13, was no stranger to office life. But in this role my title was “special assistant to the special assistant”—not what I had anticipated.

Leading an innovation review

Innovation is fraught with uncertainty. Is the timing right? Will the consumer buy the product, and then buy it again? Will the technology work at the right price? The sad fact is that one can do everything right and still get it wrong—and this reality must be reflected in the review process.

Hurd mentality

WITH electronic chips competing for grain as the commodity of the computer age, it pays to have a salesman at the helm.   

winning: Keeping one’s eyes on the future prize

Q: What are the big concerns confronting business in the next 10 years? Fatma Abdullah, Dubai, United Arab Emirates

More mouths to feed

Ask Josephine Gonzalez how many children a family should have and the stick-figured 31-year-old mother answers without hesitation. “I only wanted three,” she says, trying to soothe the naked baby boy who tugs at her ragged dress.

Philippines feels the pinch of dollar’s decline

The US dollar has always been king down by the docks on Manila Bay, where Philippine seamen congregate to swap stories and look for work.

10 reasons why electricity bills are high

Note: After Manila Electric Co. (Meralco), the country’s largest electricity distributor and supplier, announced in April an increase in its generation charges by 51.88 centavos per kilowatt-hour (kWh), rumors of a brewing government takeover began spreading like wildfire.

Working in the gray zone

Using company resources to work on personal projects, especially on company time, is a no-no for employees in most organizations. But supervisors often operate in what I call a gray zone, turning a blind eye to such officially forbidden behavior. They realize that stamping it out may do more harm than good, because many employees have a deep-seated need to engage in it.

Creating the conversations that create innovation

One of the great myths of innovation is that breakthrough ideas are produced solely by intuitive individuals or by small creative teams working in isolation. The reality is that whether we think of Thomas Edison, Ted Turner, Jeff Bezos or Steve Jobs, most well-known innovators developed their breakthrough ideas as a result of interacting with a rich and diverse community of people.

Fun revisited

Thirteen years after he created the 17-hectare Enchanted Kingdom in Santa Rosa, Laguna, designer Gary Goddard has once again returned to the theme park he originally imagined.

The Modern Leader

‘People don’t want to be managed, people want to be led.”

Winning: Before taking the plunge, get all the details

Q: I’ve been in my job for six years, but there’s very little runway for me here. Last week, a business acquaintance offered me a job at his company. It’s not really my area of expertise and the position is somewhat unclear, but it seems exciting. Do I go for it? Name Withheld, Wayne, Pennsylvania

The Rice Cop

There are moments during these days of worry over soaring international food prices when it appears that Philippine President Gloria Macapagal-Arroyo is out to solve her country’s rice shortages on her own. 

Rice’s price rise takes a toll in Manila slum

It is in the heaving slums of Asia, amid sagging tin shacks and streets afloat with waste, that the soaring global price for rice hits hardest.

Look to the Sky

ALFRED M. Yao is a man who rarely rests.

He says the last vacation he had with his entire family was two years ago in New Zealand, and remembers a few regional cruises with his wife. He tells the BusinessMirror he would rather be on his toes, working, on the lookout for new business opportunities.

The Best Advice I Ever Got

Shortly after joining Salomon Brothers in 1975, I had an opportunity to rescue a troubled account. Our firm was getting almost no business from one of our huge institutional clients, but I made some headway and surprised everyone, including myself.

Using conflict as a catalyst for change

Deep organizational change inevitably produces conflict. Those who lead change usually try to suppress conflict, with the goal of keeping the energy positive and the forward momentum strong.

Law& property

Talk about having the right address.

That’s how Atty. Andres D. Bautista, chief executive officer of the Kuok Group in the Philippines, was initially considered to become the Hong Kong-based group’s top guy in the Philippines.

Winning: When the chips are down, keep your chin up

Q: Our company, like many these days, is experiencing lower earnings and the termination of many good employees. How do we build morale and give employees some sense of confidence in the face of poor financial results? Name Withheld, Maryville, Tennessee

From farms to tables

Governments serve the secondary purpose of intervening when free markets come perilously close—or are perceived to be close—to losing control.

Food-Price Shock

The globe’s worst food crisis in a generation emerged as a blip on the big boards and computer screens of America’s great grain exchanges. At first, it seemed like little more than a bout of bad weather.

Take the lead at your next review

The management literature is full of advice for those who want to deliver effective performance reviews. The usual mantra? Use review sessions to set clear expectations and goals but never forget to praise good work and to listen closely to employee concerns.

What you can gain when you lose good people

Knowledge workers in technology companies generally don’t view their jobs as being about human relationships. The more introverted among them would probably even shudder at the thought.

A call to Help

Choosing the less traveled path can lead to either great heartbreak or indescribable rewards. Luckily for Marilou Pantua-Juanito, VSO Bahaginan executive director, it is the latter which she continues to reap.

Winning: Collaboration is the mother of innovation

Q: When you read the history of the greatest products ever created, you find out that many times the innovator was ignored or ridiculed by his company along the way and even had to struggle against the wishes of management. Why does this happen? Shouldn’t managers at least be giving these people moral support?  Name Withheld, Livermore, California

Hand to Mouth

Maria Susana Espinoza wanted only two children. But it was not until after the birth of her fourth child in six years that she learned any details about birth control.

Rice shortage may mean more trouble for Arroyo

Myrna Lacdao used to eat two meals a day. Now she eats one, and gives the rest to her two grandchildren.

In the Shadow of Debt

Summary: The stagnation of the Philippine economy has now lasted over 25 years. Between 1990 and 2005, the Philippines’ average annual GDP growth rate was the lowest in Southeast Asia, being lower than even that of Laos, Cambodia and Myanmar.

Five ways to boost retention

* boom times and slow times alike, you need to keep your best people. Let’s look at five proven practices to help you do just this.

1. Provide room to grow. Nothing is more frustrating for an employee than discovering he is out of growth opportunities.

The tourism time bomb

International travel is no longer the exclusive province of the rich. Over the next several decades, hundreds of millions of new entrants to the middle class will want not only the things—but also the experiences—that money can buy.