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RESILIENCE: A POSITIVE DEVIATION AMID DIFFICULTY

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Article by Dr Dicky Els and Terrance M. Booysen

With the accelerated pace of global development, fuelled by South Africa’s socio-economic and political uncertainty, there are obvious knock-on business implications that increase business risks, not least of which includes dampening the mood for local investment. It is therefore not surprising to see many organisations downsizing, restructuring and even being forced to shrink their trading operations in the face of declining revenue and higher cost pressures. Since the 2007-2008 global financial market crisis, organisations are operating in turbulent markets and have to constantly adapt to increasing business uncertainty and changing circumstances. Whilst there may be numerous economic challenges the organisation’s leadership must deal with in order to remain a sustainable and profitable concern, they also have to be acutely aware of the manner in which these severe economic stressors impacts their workforce.
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Implementing corporate governance principles in Kyrgyzstan

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Kyrgyzstan is a developing country, which has been part of USSR in the past. Therefore large companies still has government as a major shareholder. There is a basis to use corporate governance principles in Kyrgyz companies and our company is one of them. Below I will describe how corporate governance principles are implemented in our company ElectrStanciyalar (Power Plants) joint stock corporation, the biggest company producing electrical and heat energy (hereinafter the ‘ES JSC’).
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Federal D&O Litigation: Washington’s New War Zone?

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When the United States entered World War I, the U.S. Army boosted recruitment with a poster. Uncle Sam, symbolizing the federal government, pointed to the viewer: “I want you.”  So it is with the many federal agencies that today have oversight over major companies and their directors and officers (D&O). If you or your organization have run afoul of a federal regulation, intentionally or not, the “war” is on. These agencies want you—in court.
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The Dark Side of Commitment

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The fish rots from the head, Chinese expression that stands out that the Board of Directors, as head of the organization is key to have a culture that promotes compromise among people working their; on the contrary, the company will not stand for long. Commitment is the result of a tacit or formal agreement among people agreeing on a given delivery in a specific timing and form. Commitment is what he or she (or they) asks for or offers and he or she (or they) accepts to receive what is committed in the right time frame and form and that appraisal judgments will be made reciprocally in relation with what is committed by both parties. The commitment involves both parties, since who asks for or who receives the offer must state his or her judgments in time as well, and reward the fulfilling or compensate for and repair should he had not kept in force the validity of the request. As a result of these judgments there may be compensations and the trust capital for future commitments of the company will improve or decrease. For this process to occur, the commitment of the interlocutors required:
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A comparative perspective women on boards revolution

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INTRODUCTION

The Franco British Chamber of Commerce
Founded in 1873 and with a membership network of over 700 companies, the Chamber’s objective is to lead the Franco-British business community in France.

World Women in Real Estate
WWIRE is a community that encourages world women in real estate to help each other and create an impact
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IMPROPERLY APPOINTED BOARDS SPELL DISASTER FOR ORGANISATIONS

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By Terrance M. Booysen and reviewed by Joanne Matisonn (Head of Corporate Governance: TMF Corporate Services).

It has been said that it is very difficult to accurately describe what exactly defines a good board of directors, and trying to find a scientific formulae for a so-called ‘perfect’ board is improbable. At the inception of the first round of appointing directors on the board, the shareholders will usually have a very good idea of the ideal group of directors which they believe will be best suited and qualified to start and direct the business. At this early stage of the organisation’s existence, the board will require unique people with the same vision as its founding shareholders, but have a diversity of thought and outlook to enrich the strategic process. As with most new business ventures, there’s usually a lot of risk — even levels of uncertainty regarding business success — and it is therefore critical that the board ensure they have the correct people who are capable of actually doing the work cut out for them. Indeed, the board must be capable of aligning the vision with a strategic path, whilst at the same time being acutely aware of the risks associated with the many business failures that are linked with start-up organisations.
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Are we really looking for an endless, timeless supply of cheap stuff?

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They say there are always two ways of looking at things, and the victory of Donald J. Trump in the US presidential election is no exception. He is the living proof that the political, economic and intellectual élite was swept away because they had completely lost touch with reality.

Basing government decisions on “alternative” facts is of course bound to give rise to doubts and misgivings. Despite the absence of constraints marking the actual boundaries beyond which lies meta-reality, these facts do raise hopes and expectancies which, whether we like it or not, are vested with a measure of democratic legitimacy. As Clemens Vedder so apply put it “while reality used to be taken at face value, it has now become the raw material to be skewed, shaped stretched and shrunk from which to prepare the big picture.”
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D&O LIABILITY INSURANCE: AN ESSENTIAL COMPONENT OF AN ORGANISATION’S RISK-MITIGATION TOOLBOX

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By Terrance M. Booysen and peer reviewed by David Loxton (Partner: Dentons)

Directors and officers of all organisations are facing an increased risk of personal exposure. Their roles and responsibilities have become progressively more onerous in recent years, mainly as a result of new legislation and regulatory requirements, stakeholder pressure and increased governance and social responsibilities, as well as the complexity of trans-continental and macro-economic trading conditions.
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NEW PREFERENTIAL PROCUREMENT REGULATIONS LIKELY TO BE CHALLENGED

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By Terrance M. Booysen and reviewed by Bulelwa Mabasa (Werksmans: Partner)

In his State of the Nation Address in 2017, President Jacob Zuma noted the intention of the South African government to influence the behaviour of the private sector and to drive economic transformation. He stated that this objective would be achieved through the government playing a role in the economy through legislation, regulations, licensing, budget and procurement, as well as Broad-Based Black Economic Empowerment (‘B-BBEE’) imperatives.
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LIFESTYLE AUDITS CURB ERRANT BEHAVIOUR

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By Terrance M. Booysen and reviewed by Megan Grindell (Director: Carter DGF Risk Management)

In today’s heightened times of public scrutiny and calls for ethical leaders, it’s not surprising that many concerned citizens have become far more demanding for good governance and transparency. Social media has been a major contributor to this call, such that a person’s privacy — including matters such as their social pleasures and behaviour — are broadcasted in seconds to almost any corner of the world. For example, if a work colleague is an avid user of Facebook or Twitter, it’s not too difficult finding out what that person’s likes and dislikes are, what gyms or sport clubs they attend and how often, right down to discovering their dream car or accommodation.
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