Manage For Trust Not Profits In business, trust is not a soft skill. It’s not the exercise of falling backwards into someone’s arms and hoping they will catch us. It’s about the measurable good behavior in companies that leads all stakeholders (consumers, employees, suppliers, vendors, shareholders, etc.) to perceive the organization as trust “worthy,” as the kind of company with which they … [Read More...]
Latest articls
Corporate Social Responsibility in Banks
Over the past few years, a rising emphasis has been placed on banks' Corporate Social Responsibility (CSR). But what does CSR mean anyway? This is indeed one of the most frequently asked questions for all those dealing with CSR matters. A simple definition refers to CSR as how banks take into consideration the impact on society of their operational activities. Consequently, it requires a … [Read More...]
Recognize a low trust organization, and reap the rewards of a high trust culture
In the prior post for the FCPA Blog, three of our Trust Alliance members talked about what Barclays Bank needs to do to re-establish trust and ethics in the organization. Not just Barclays but many organizations find themselves in trust traps because they hold on to the notion that trust and ethics are “soft skills.” So over time, trust and ethics in their organizations are overlooked or taken … [Read More...]
The shifting sands of auditing should send signa to boards
You might recall back in mid-2015 we chatted about the Australian Securities and Investments Commission – or ASIC – and its push to make it easier to prosecute company executives and directors for overseeing poor business culture that leads to very poor business performance. We spoke then of it representing a seismic shift on the governance landscape and it’s good to learn that the rumblings … [Read More...]
WHY DO COMPANIES WALK ‘BACKWARDS INTO THE FUTURE’?
By Terrance M. Booysen and Paul Aucamp (CGF Lead Independent Consultant) How can this possibly be true? Unfortunately, many companies structure strategic planning only as annual processes, ultimately as a precursor to increase the following year’s budget by for example ten percent. At the heart of this approach is a process that extrapolates the organisation’s future; it does nothing to change … [Read More...]
WHY NON-EXECUTIVES SHOULDN’T DO IT FOR THE FEES ALONE
By Terrance M. Booysen While the board attendance fees paid to Non-Executive Directors (‘NEDs’) may be a strong incentive for certain individuals to avail themselves for these boardroom positions, it may be well worth reconsidering the risk and rewards. The onerous duties and responsibilities which are placed on NEDs -- including the demands made by the organisation’s key stakeholders on the … [Read More...]
Wall Street tries to weed out the wolves while London stays sheepish
By Marc Goergen
When Mathew Martoma, the former portfolio manager of SAC Capital, was sentenced to nine years in prison for insider trading last week, much of the comment was about how harsh the punishment looked. It must have seemed particularly so to traders in the dealing rooms of light-touch London. In truth, Martoma should take some of the blame. Federal court judge Paul Gardephe justified the length of … [Read More...]
Is your board dysfunctional?
Does your board have directors who trust each other, are committed, are comfortable with conflict, hold each other to account and are focused on results? If not, your board is likely to have some degree of dysfunctionality and is possibly in need of an intervention. I have been working with boards of organisations of all sizes in all sectors for a number of years and most of them exhibit some … [Read More...]
The Trust Question: Can Barclays Rebuild the Brand?
Article appeared last week on The FCPA blog. Jes Staley is the newly appointed American CEO of the beleaguered British Barclays Bank. He recently said, "I do believe that trust is returning to our institution. But we will never rest, we are never done. We have to focus on building that trust every day." We asked our Trust Alliance members to weigh in on the steps Barclays new American CEO … [Read More...]
What should NEDs do when the CEO leaves the board?
With the average tenure of a FTSE100 CEO at 5 years and two months it is highly likely that most boards will have to face the transition of the top executive position at one time or another. Regardless of the reason for the CEO’s departure, it can be an unsettling time for the organisation and is a time when the board’s non-executive directors really come into their own to ensure that the … [Read More...]
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