In Capitalism and Freedom (1962), the late American economist Milton Friedman wrote: "There is one and only one social responsibility of business -- to use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say, engages in open and free competition without deception or fraud." In Capitalism and Freedom … [Read More...]
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The Confluence, Ebb, and Flow of Leadership, Governance, and Management
For me, the confluence, ebb, and flow of leadership, governance, and management, dictates the success or failure of corporations. Succession There are, of course, many more tributaries to this flow, including creativity, innovation, disruption, culture and capability. There will be eddies, rapids, waterfalls, stagnation, and oxbow lakes, sandy beaches, rocky passes, banks, barges, and … [Read More...]
Non-profit boards – how to be more effective
By Mark Schultz
Board members of non-profit organisations are all generally time poor and have competing demands on their attention and focus. However, if an individual accepts a position on a board, then being busy is no excuse for inadequate contribution – if you cannot contribute, don’t nominate. There are a few ways non-profits boards can collectively, and the directors individually, improve their … [Read More...]
SOCIAL MEDIA – CHANGING TIMES AND INCREASING RISK
Many technologists across the world were completely bewildered by the claim Gordon E. Moore made in 1965, when he boldly predicted the rate of change the world would undergo through the rapid development of technology. Famously known as “Moore’s Law”; it supports the notion that every two years the components found on integrated circuits would double, and the size of the components would half in … [Read More...]
Auditor Remuneration in India: Trends and Insights
The auditors play a vital role in upholding the corporate governance standards in India. The external auditors are responsible for independently reviewing the financial statements of companies and provide opinion regarding its truthfulness and fairness. The auditing profession in the country is governed by the Institute of Chartered Accountants in India (ICAI), a statutory body established under … [Read More...]
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...]
Bells set to toll for independent school governance
If there’s one thing in Australia that’s almost as certain as death and taxes, it’s that what happens in one state or territory, particularly in the area of governance, is bound to send ripples into all others. Which is why the recent announcement by the New South Wales government of increased requirements for non-government – or independent – schools should get the bells ringing across this … [Read More...]
GDPR substantially changes the manner in which personal data is treated.
By Terrance M. Booysen (Director: CGF) and peer reviewed by Dr. Peter Tobin (GDPR & POPIA Specialist) There has been much discussion and focus on GDPR -- the European Union (‘EU’) General Data Protection Regulation 2016/679 -- which came into force on 25 May 2018. This EU legislation aims to strengthen the application and enforcement of data privacy laws, not only through its principles and … [Read More...]
Manage For Trust Not Profits
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...]
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...]
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