Good Evening
Corporate directors have their hands full. They must help their companies prosper, keep their shareholders happy, establish sensible CEO performance standards, and evaluate strategy and risk in a volatile business climate. How can board members keep all those balls in the air? These dilemmas have no easy answers, but Ram Charan, best-selling business author and leading expert on corporate governance, provides excellent suggestions for this formidable balancing act. Though his text sometimes digresses – interestingly – from its mission, Charan provides board members with many useful, if not entirely new, insights..
Directors face an unsettling new situation. With many businesses struggling and corporate watchdog groups demonstrating increasing bark & bite, CEOs aren’t the only ones taking the heat. Now , public attention turns also to boards and individual directors. In response, they must demonstrate maximum accountability and leadership , ‘ not just over-the-shoulder monitoring and passive approval “. How can boards do this best ? To find the answer, directors should ask 14 tough questions about their primary challenges .
If you are a corporate director or planning to become one or even if you sit on a nonprofit’s board, I believe you can gain a lot from reading this superb, savvy book.
Happy reading …..
The average Fortune 500 Company today can expect to enjoy a run of about 40 to 50 years. That may sound like a respectable life span until you learn there are large and small companies in the World that have been around for two, three and even four centuries .
What’s the secret to their longevity ?
Long-lived companies don’t focus solely upon economic activity. Instead , their goal is to build a community that grows & thrives beyond the individual contributions of each generation.
The idea may sound radical but it’s the foundation for a variety of other institutions including Churches, Universities, and even armies that were established centuries ago & continue to flourish today. These institutions & their corporate counterparts exhibit the behaviour & select characteristics of living organisms. They learn, develop an identity, build relationships with other life forms, grow and eventually die. They are, in fact, living entities.
Living companies, like all organisms, exist primarily to survive & fulfil their maximum potential. Just as work is a means to an end for you, making money by producing goods & services is a means to an end for a living company. Their end is to live.
They stay alive by
· Learning & choosing to adapt to their environment
· Creating strong identities as tightknit communities
· Paying attention to their relationships with both members & external agencies
· Controlling their growth by spending money frugally.
Understanding how a company can be a living entity is a first step towards increasing its life expectancy.
The enclosed document captures Some Impressionistic takes how a living company learns, develops a strong identity, nurtures relationships & evolves to a ripe old age.
A company is in Prime when form and function are in balance. The what and the how are in balance. Prior to Prime, function is more important than form. In other words, what we do is more important than how we do it. After Prime, how we do it is more important than what we do. That is why, after Prime, how you do something and whom you know is more important than what you do. In Prime, the what and how are in balance. In Prime, the company is both flexible and in control. Prior to Prime, the company is flexible, but not very much in control of itself. After Prime, control is very high, and the company loses flexibility. In Prime, flexibility and control are together.
However, in a company in Prime, the management is not as flexible as before Prime, because there is professional management: The tendency to depend on any single indispensable individual does not exist as it does in younger companies. On the other hand, in Prime, the organization has a strategic outlook without losing attention to detail. Furthermore, the organization does not look only at detail without losing its strategic outlook, so the company in Prime has controlled flexibility, and it doesn’t depend on any single individual.
Talent Wins” by Dr.Ram Charan, Dominic Barton, Dennis Carey
Most executives today recognize the competitive advantage of human capital, and yet the talent practices their organizations use are stuck in the twentieth century.
Typical talent-planning and HR processes are designed for predictable environments, traditional ways of getting work done, and organizations where "lines and boxes" still define how people are managed. As work and organizations have become more fluid--and business strategy is no longer about planning years ahead but about sensing and seizing new opportunities and adapting to a constantly changing environment--companies must deploy talent in new ways to remain competitive.
Turning conventional views on their heads, talent and leadership experts Ram Charan, Dominic Barton, and Dennis Carey provide leaders with a new and different playbook for acquiring, managing, and deploying talent--for today's agile, digital, analytical, technologically driven strategic environment--and for creating the HR function that business needs. Filled with examples of forward-thinking companies that have adopted radical new approaches to talent (such as ADP, Amgen, BlackRock, Blackstone, Haier, ING, Marsh, Tata Communications, Telenor, and Volvo), as well as the juggernauts and the startups of Silicon Valley, this book shows leaders how to bring the rigor that they apply to financial capital to their human capital--elevating HR to the same level as finance in their organizations.
Providing deep, expert insight and advice for what needs to change and how to change it, this is the definitive book for reimagining and creating a talent-driven organization that wins.
Happy reading & Learning
Mr.Chris Zook is a partner in Bain & Company , an expert in discovering sources of “profitable growth” for his clients, and James Allen, co-leader of Bain’s Global Strategy practice, are the best-selling co-authors of four books on “how to win the external strategy game.”
Here, these forward thinkers address the fundamental conundrum of growth: In the process of growing, companies face proportionally increased “complexity,” which can stifle that growth. Zook and Allen describe three predictable crises related to growth.
• The first, “overload,” occurs when expanding organizations try to cope with scaling up but only generate internal strife.
• The second, “stall-out,” happens as “organizational complexity” increases rapidly, causing a sudden – and often permanent – slowdown in growth.
• And third, “free fall,” is an abrupt halt of primary market growth so sudden that management can’t cope with it. Companies that avoid or overcome these crises and embrace continued growth share one crucial commonality: a driven, visionary “founder” whose “mentality” permeates and shapes the organization’s culture.
A quick summary and take away of this book which also has an Action plan for Leaders.
Happy Reading & Execution
In the year 2002, Warren Buffett made an admission that he had not been as vigilant as he should have been in his role as Director of the various subsidiaries of his holding company, Berkshire Hathaway. In a letter to the shareholders he wrote “ Too often I was silent when management made proposals that I judged to be counter to the interest of the shareholders. In those cases, collegiality trumped independence and a certain social atmosphere presides in boardrooms where it becomes impolitic to challenge the Chief Executive.
Kevin Sharer, Chairman of Amgen, the US biotech company, portrayed a very different relationship between board and chief executive. “ Working with the board is vital, complex, and beyond your prior experience. It is among the most complex human relationships, especially if you are the chairman, when you are their boss, and they are your boss. Get the relationship right or it will hurt you.
These two very different experiences open a new book, Boards that Lead- When to take charge, When to Partner and When to stay out of the way. The central premise of the books is a plea. “ Governing boards should take more active leadership of the enterprises, not just monitor its management?
The growing complexity of markets and strategy, the authors say, is one of the biggest challenges for board members. It also means that they cannot afford to sit back and rubber stamp executive’s plans.
Boards often fail to do their job, they point out, for example failing to do their due diligence. They cite the example of Yahoo’s Chief Executive Scott Thompson. After a few months in the post, it was discovered that he had listed a degree in both accounting and computer science, but had actually earned only the first.
A good book to read move from Delivering to Leading.
Happy Reading
Tech giant Microsoft’s India-born CEO Satya Nadella’s first book in which he explores his personal journey, the company’s ongoing transformation and the wave of technological change will hit the future.
The book titled “ Hit Refresh “ carries a foreword by Microsoft co-founder Bill Gates.
Some of my Key picks from the Book
Page 38 & 39- 3 Business & leadership principles learned from Cricket
• Compete vigorously and with passion in the face of uncertainty and intimidation
• Put your team first, ahead of your personal statistics and recognition.
• One brilliant character who does not put the team first can destroy the entire team.
Page 119
• “ To be a leader in this company, your job is to find the rose petals in the field of Shit “ – We can look at a leader as an operator of a machine. Machines are built up using a lot of different cogs of all sizes that coherently work together as one giant machine. So be definition it is important to select cogs that you know you can trust and rely on before operating your machine. Since without these cogs, it all falls apart and you would not be able to operate anything.
Page 119 & 120 -Leadership Principles
• Bring clarity to those you work with. By taking internal and external noise and synthesizing a message from it to deliver to your team.
• Leaders generate Energy, not only on their own teams but across the company.
• To find a way a way to deliver success to make things happen. This means driving innovations that people love and are inspired to work on; finding balance between long-term success and short-term wins; and being boundary-less and globally minded in seeing solutions.
Page 125 – Our Partners
• “ For everyone working with partners, I encourage you to ask yourself “ What could be?” and explore new, creative ways to do interesting things that add value back to our platforms for customers” .
Page 126 – Four initiatives every company must make a priority
• Engage with your customers base by leveraging data to improve the customer experience.
• Empower your own employees by enabling greater and more mobile productivity and collaboration in the new digital world of work.
• Optimize operations, automating and simplifying business process across sales, operations & finance.
• Transform products service and business models ( Become a digital company)
Page 166– Quantum Computers
• “ Quantum computers will not stake the form of new stand-alone, super-fast PC but will operate as a co-processor , receiving its instructions and cues from a stack of classical processors” .
A company is in Prime when form and function are in balance. The what and the how are in balance. Prior to Prime, function is more important than form. In other words, what we do is more important than how we do it. After Prime, how we do it is more important than what we do. That is why, after Prime, how you do something and whom you know is more important than what you do. In Prime, the what and how are in balance. In Prime, the company is both flexible and in control. Prior to Prime, the company is flexible, but not very much in control of itself. After Prime, control is very high, and the company loses flexibility. In Prime, flexibility and control are together.
However, in a company in Prime, the management is not as flexible as before Prime, because there is professional management: The tendency to depend on any single indispensable individual does not exist as it does in younger companies. On the other hand, in Prime, the organization has a strategic outlook without losing attention to detail. Furthermore, the organization does not look only at detail without losing its strategic outlook, so the company in Prime has controlled flexibility, and it doesn’t depend on any single individual.
The average Fortune 500 Company today can expect to enjoy a run of about 40 to 50 years. That may sound like a respectable life span until you learn there are large and small companies in the World that have been around for two, three and even four centuries .
What’s the secret to their longevity ?
Long-lived companies don’t focus solely upon economic activity. Instead , their goal is to build a community that grows & thrives beyond the individual contributions of each generation.
The idea may sound radical but it’s the foundation for a variety of other institutions including Churches, Universities, and even armies that were established centuries ago & continue to flourish today. These institutions & their corporate counterparts exhibit the behaviour & select characteristics of living organisms. They learn, develop an identity, build relationships with other life forms, grow and eventually die. They are, in fact, living entities.
Living companies, like all organisms, exist primarily to survive & fulfil their maximum potential. Just as work is a means to an end for you, making money by producing goods & services is a means to an end for a living company. Their end is to live.
They stay alive by
· Learning & choosing to adapt to their environment
· Creating strong identities as tightknit communities
· Paying attention to their relationships with both members & external agencies
· Controlling their growth by spending money frugally.
Understanding how a company can be a living entity is a first step towards increasing its life expectancy.
The enclosed document captures Some Impressionistic takes how a living company learns, develops a strong identity, nurtures relationships & evolves to a ripe old age.
A company is in Prime when form and function are in balance. The what and the how are in balance. Prior to Prime, function is more important than form. In other words, what we do is more important than how we do it. After Prime, how we do it is more important than what we do. That is why, after Prime, how you do something and whom you know is more important than what you do. In Prime, the what and how are in balance. In Prime, the company is both flexible and in control. Prior to Prime, the company is flexible, but not very much in control of itself. After Prime, control is very high, and the company loses flexibility. In Prime, flexibility and control are together.
However, in a company in Prime, the management is not as flexible as before Prime, because there is professional management: The tendency to depend on any single indispensable individual does not exist as it does in younger companies. On the other hand, in Prime, the organization has a strategic outlook without losing attention to detail. Furthermore, the organization does not look only at detail without losing its strategic outlook, so the company in Prime has controlled flexibility, and it doesn’t depend on any single individual.
Talent Wins” by Dr.Ram Charan, Dominic Barton, Dennis Carey
Most executives today recognize the competitive advantage of human capital, and yet the talent practices their organizations use are stuck in the twentieth century.
Typical talent-planning and HR processes are designed for predictable environments, traditional ways of getting work done, and organizations where "lines and boxes" still define how people are managed. As work and organizations have become more fluid--and business strategy is no longer about planning years ahead but about sensing and seizing new opportunities and adapting to a constantly changing environment--companies must deploy talent in new ways to remain competitive.
Turning conventional views on their heads, talent and leadership experts Ram Charan, Dominic Barton, and Dennis Carey provide leaders with a new and different playbook for acquiring, managing, and deploying talent--for today's agile, digital, analytical, technologically driven strategic environment--and for creating the HR function that business needs. Filled with examples of forward-thinking companies that have adopted radical new approaches to talent (such as ADP, Amgen, BlackRock, Blackstone, Haier, ING, Marsh, Tata Communications, Telenor, and Volvo), as well as the juggernauts and the startups of Silicon Valley, this book shows leaders how to bring the rigor that they apply to financial capital to their human capital--elevating HR to the same level as finance in their organizations.
Providing deep, expert insight and advice for what needs to change and how to change it, this is the definitive book for reimagining and creating a talent-driven organization that wins.
Happy reading & Learning
Mr.Chris Zook is a partner in Bain & Company , an expert in discovering sources of “profitable growth” for his clients, and James Allen, co-leader of Bain’s Global Strategy practice, are the best-selling co-authors of four books on “how to win the external strategy game.”
Here, these forward thinkers address the fundamental conundrum of growth: In the process of growing, companies face proportionally increased “complexity,” which can stifle that growth. Zook and Allen describe three predictable crises related to growth.
• The first, “overload,” occurs when expanding organizations try to cope with scaling up but only generate internal strife.
• The second, “stall-out,” happens as “organizational complexity” increases rapidly, causing a sudden – and often permanent – slowdown in growth.
• And third, “free fall,” is an abrupt halt of primary market growth so sudden that management can’t cope with it. Companies that avoid or overcome these crises and embrace continued growth share one crucial commonality: a driven, visionary “founder” whose “mentality” permeates and shapes the organization’s culture.
A quick summary and take away of this book which also has an Action plan for Leaders.
Happy Reading & Execution
In the year 2002, Warren Buffett made an admission that he had not been as vigilant as he should have been in his role as Director of the various subsidiaries of his holding company, Berkshire Hathaway. In a letter to the shareholders he wrote “ Too often I was silent when management made proposals that I judged to be counter to the interest of the shareholders. In those cases, collegiality trumped independence and a certain social atmosphere presides in boardrooms where it becomes impolitic to challenge the Chief Executive.
Kevin Sharer, Chairman of Amgen, the US biotech company, portrayed a very different relationship between board and chief executive. “ Working with the board is vital, complex, and beyond your prior experience. It is among the most complex human relationships, especially if you are the chairman, when you are their boss, and they are your boss. Get the relationship right or it will hurt you.
These two very different experiences open a new book, Boards that Lead- When to take charge, When to Partner and When to stay out of the way. The central premise of the books is a plea. “ Governing boards should take more active leadership of the enterprises, not just monitor its management?
The growing complexity of markets and strategy, the authors say, is one of the biggest challenges for board members. It also means that they cannot afford to sit back and rubber stamp executive’s plans.
Boards often fail to do their job, they point out, for example failing to do their due diligence. They cite the example of Yahoo’s Chief Executive Scott Thompson. After a few months in the post, it was discovered that he had listed a degree in both accounting and computer science, but had actually earned only the first.
A good book to read move from Delivering to Leading.
Happy Reading
Tech giant Microsoft’s India-born CEO Satya Nadella’s first book in which he explores his personal journey, the company’s ongoing transformation and the wave of technological change will hit the future.
The book titled “ Hit Refresh “ carries a foreword by Microsoft co-founder Bill Gates.
Some of my Key picks from the Book
Page 38 & 39- 3 Business & leadership principles learned from Cricket
• Compete vigorously and with passion in the face of uncertainty and intimidation
• Put your team first, ahead of your personal statistics and recognition.
• One brilliant character who does not put the team first can destroy the entire team.
Page 119
• “ To be a leader in this company, your job is to find the rose petals in the field of Shit “ – We can look at a leader as an operator of a machine. Machines are built up using a lot of different cogs of all sizes that coherently work together as one giant machine. So be definition it is important to select cogs that you know you can trust and rely on before operating your machine. Since without these cogs, it all falls apart and you would not be able to operate anything.
Page 119 & 120 -Leadership Principles
• Bring clarity to those you work with. By taking internal and external noise and synthesizing a message from it to deliver to your team.
• Leaders generate Energy, not only on their own teams but across the company.
• To find a way a way to deliver success to make things happen. This means driving innovations that people love and are inspired to work on; finding balance between long-term success and short-term wins; and being boundary-less and globally minded in seeing solutions.
Page 125 – Our Partners
• “ For everyone working with partners, I encourage you to ask yourself “ What could be?” and explore new, creative ways to do interesting things that add value back to our platforms for customers” .
Page 126 – Four initiatives every company must make a priority
• Engage with your customers base by leveraging data to improve the customer experience.
• Empower your own employees by enabling greater and more mobile productivity and collaboration in the new digital world of work.
• Optimize operations, automating and simplifying business process across sales, operations & finance.
• Transform products service and business models ( Become a digital company)
Page 166– Quantum Computers
• “ Quantum computers will not stake the form of new stand-alone, super-fast PC but will operate as a co-processor , receiving its instructions and cues from a stack of classical processors” .
A company is in Prime when form and function are in balance. The what and the how are in balance. Prior to Prime, function is more important than form. In other words, what we do is more important than how we do it. After Prime, how we do it is more important than what we do. That is why, after Prime, how you do something and whom you know is more important than what you do. In Prime, the what and how are in balance. In Prime, the company is both flexible and in control. Prior to Prime, the company is flexible, but not very much in control of itself. After Prime, control is very high, and the company loses flexibility. In Prime, flexibility and control are together.
However, in a company in Prime, the management is not as flexible as before Prime, because there is professional management: The tendency to depend on any single indispensable individual does not exist as it does in younger companies. On the other hand, in Prime, the organization has a strategic outlook without losing attention to detail. Furthermore, the organization does not look only at detail without losing its strategic outlook, so the company in Prime has controlled flexibility, and it doesn’t depend on any single individual.
Strategy palette as a unifying choice framework. It is designed to help leaders match their approach to strategy to the circumstances at hand and execute it effectively, to combine different approaches to cope with multiple or changing environments, and, as leaders, to animate the resulting collage of approaches. The strategy palette consists of five archetypal approaches to strategy, which can be applied to different parts of your business:
• Classical: I can predict it, but I can’t change it.
• Adaptive: I can’t predict it, and I can’t change it.
• Visionary: I can predict it, and I can change it.
• Shaping: I can’t predict it, but I can change it.
• Renewal: My resources are severely constrained.
Throughout the book, the authors provide practical insights into the following three pillars of digital transformations that successfully scale:
• Reinventing the business model
• Building out a business architecture from the customer back into the organization
• Establishing an 'amoeba' IT and organizational foundation that learns and evolves
The learnings from this book are:
• How to build a 3-stage structure to help prioritize strategic and operational challenges that will digitize the organization.
• To understand the roles and importance of new technological positions, such as the Information Technology function and CDO.
• To set digital milestones to track the progress on the transformation of the organization – towards digital transformation & Digital culture.
• To rethink traditional business architecture while redesigning the agile organization.
The book is a useful guide for all leaders who recognize the power and promise of a digital transformation - who want to avoid being steered by 3rd parties - and chart their own course in the digital economy
Whether corporate governance is a burden meant to report compliance on companies’ performance, or can it be used as a competitive advantage in view of the changing laws, awareness and scenario is the important question which is present in the minds of those at the top of the company affairs including the CEO, Directors and Boards.
The book under reference, “Boards that Deliver”, by Ram Charan attempts to answer this question in a certain and prudent manner. The author believes that with the right set of practices, any group of directors can become a board that delivers value to the management and to the investors and goes ahead to demonstrate his points giving directions on various steps to be taken to make this happen.
• Performance is what an enterprise delivers to its shareholders in the here and now, evaluated through such measures as net operating profit, return on capital employed, total returns to share- holders, net operating costs, and stock turn.
• Health is the ability of the organization to align, execute, and renew itself faster than its competition, allowing it to sustain exceptional performance year in, year out
The “Course Topics” series from Manage Train Learn and Slide Topics is a collection of over 4000 slides that will help you master a wide range of management and personal development skills. The 202 PowerPoints in this series offer you a complete and in-depth study of each topic. This presentation is on "A Culture of Empowerment".
The pace of change in global business has never been more relentless and successful managers and leaders are the ones who innovate their style and processes. Gary Hamel sets the agenda in his new book “What Matters Now” and Helen Power speaks to two London Business School alumni who occupy positions at the highest level about how they have mastered upheaval.
This was first published in AlumniNews, Issue 130, July 2013. Find out more about our alumni community at http://www.london.edu/alumni
Strong Leaders at all levels within an organization are a requisite for business success. Yet the leadership pipeline –internal architecture for growing leaders is often broken or
nonexistent. This updated edition of the bestselling book has been revised to help address the challenges of today’s business environment. Anchored in experience based case studies, this
remarkable book synchronizes a proven model for planning leadership succession and development for corporate organizations. The Second edition is an improvement based on
learning and review of the authors who have drawn their work at more than one hundred international companies over a period of ten years since the first edition of the book with the same title was published. The book under review is addressed to the leading corporate organizations, where the succession path of leaders/ chief executives is being formulated & executed on a continuous basis to perpetuate the organization and make it strong and robust while facing trials and tribulations of corporate growth and success.
The “Course Topics” series from Manage Train Learn and Slide Topics is a collection of over 4000 slides that will help you master a wide range of management and personal development skills. The 202 PowerPoints in this series offer you a complete and in-depth study of each topic. This presentation is on "Empowered People".
As organizations grow and age they progress through predictable lifecycle stages. Each stage brings increased organizational complexity as well as new and unique challenges. Strategy, structure, levels of delegation, goals, rewards systems and methods of operating usually differ quite markedly in each stage of the organization lifecycle. How well or how poorly leadership addresses the challenges and demands of each stage will determine the success or failure of the organization. The following is a brief description of each of the 10 stages of the corporate lifecycle:
Research Paper titled “Innovation through Intrapreneurship – A Management’s Perspective” on how manager's can foster an environment of innovation & spirit of startups in an Enterprise.
In his previous bestseller, Built to Last, Jim Collins explored what made great companies great and how they sustained that greatness over time.
One point kept nagging him, though — great companies have, for the most part, always been great, while a vast majority of good companies remain just that: good, but not great. What could merely good companies do to become great, to turn long-term weakness into long-term supremacy?
Collins and his team of researchers used strict benchmarks to identify a group of eleven elite companies that made the leap from good to great and sustained that greatness for at least fifteen years. The companies that made the list might surprise you as much as those left off (the likes of Intel, GE
and Coca Cola are nowhere to be found).
The real surprise of Good to Great isn’t so much what good companies do to propel themselves to greatness — it’s why more companies haven’t done the same things more often.
Companies that have prospered over long periods of time through multiple product life cycles and several generations of leadership. six years of intensive, qualitative research on what makes winning companies exceptional and different including their practices and habits.
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This eBook Board Governance for Private Business is based on the most common corporate governance questions we receive from private business owners. Most private business and family business organizations have Boards of Directors. However, the majority of private business Boards do not focus on corporate governance. At some point - often in preparation for an exit - these Boards explore the benefits of a governance Board and how to implement it. This eBook is a short read. Every page is an answer.
Strategy palette as a unifying choice framework. It is designed to help leaders match their approach to strategy to the circumstances at hand and execute it effectively, to combine different approaches to cope with multiple or changing environments, and, as leaders, to animate the resulting collage of approaches. The strategy palette consists of five archetypal approaches to strategy, which can be applied to different parts of your business:
• Classical: I can predict it, but I can’t change it.
• Adaptive: I can’t predict it, and I can’t change it.
• Visionary: I can predict it, and I can change it.
• Shaping: I can’t predict it, but I can change it.
• Renewal: My resources are severely constrained.
Throughout the book, the authors provide practical insights into the following three pillars of digital transformations that successfully scale:
• Reinventing the business model
• Building out a business architecture from the customer back into the organization
• Establishing an 'amoeba' IT and organizational foundation that learns and evolves
The learnings from this book are:
• How to build a 3-stage structure to help prioritize strategic and operational challenges that will digitize the organization.
• To understand the roles and importance of new technological positions, such as the Information Technology function and CDO.
• To set digital milestones to track the progress on the transformation of the organization – towards digital transformation & Digital culture.
• To rethink traditional business architecture while redesigning the agile organization.
The book is a useful guide for all leaders who recognize the power and promise of a digital transformation - who want to avoid being steered by 3rd parties - and chart their own course in the digital economy
Whether corporate governance is a burden meant to report compliance on companies’ performance, or can it be used as a competitive advantage in view of the changing laws, awareness and scenario is the important question which is present in the minds of those at the top of the company affairs including the CEO, Directors and Boards.
The book under reference, “Boards that Deliver”, by Ram Charan attempts to answer this question in a certain and prudent manner. The author believes that with the right set of practices, any group of directors can become a board that delivers value to the management and to the investors and goes ahead to demonstrate his points giving directions on various steps to be taken to make this happen.
• Performance is what an enterprise delivers to its shareholders in the here and now, evaluated through such measures as net operating profit, return on capital employed, total returns to share- holders, net operating costs, and stock turn.
• Health is the ability of the organization to align, execute, and renew itself faster than its competition, allowing it to sustain exceptional performance year in, year out
The “Course Topics” series from Manage Train Learn and Slide Topics is a collection of over 4000 slides that will help you master a wide range of management and personal development skills. The 202 PowerPoints in this series offer you a complete and in-depth study of each topic. This presentation is on "A Culture of Empowerment".
The pace of change in global business has never been more relentless and successful managers and leaders are the ones who innovate their style and processes. Gary Hamel sets the agenda in his new book “What Matters Now” and Helen Power speaks to two London Business School alumni who occupy positions at the highest level about how they have mastered upheaval.
This was first published in AlumniNews, Issue 130, July 2013. Find out more about our alumni community at http://www.london.edu/alumni
Strong Leaders at all levels within an organization are a requisite for business success. Yet the leadership pipeline –internal architecture for growing leaders is often broken or
nonexistent. This updated edition of the bestselling book has been revised to help address the challenges of today’s business environment. Anchored in experience based case studies, this
remarkable book synchronizes a proven model for planning leadership succession and development for corporate organizations. The Second edition is an improvement based on
learning and review of the authors who have drawn their work at more than one hundred international companies over a period of ten years since the first edition of the book with the same title was published. The book under review is addressed to the leading corporate organizations, where the succession path of leaders/ chief executives is being formulated & executed on a continuous basis to perpetuate the organization and make it strong and robust while facing trials and tribulations of corporate growth and success.
The “Course Topics” series from Manage Train Learn and Slide Topics is a collection of over 4000 slides that will help you master a wide range of management and personal development skills. The 202 PowerPoints in this series offer you a complete and in-depth study of each topic. This presentation is on "Empowered People".
As organizations grow and age they progress through predictable lifecycle stages. Each stage brings increased organizational complexity as well as new and unique challenges. Strategy, structure, levels of delegation, goals, rewards systems and methods of operating usually differ quite markedly in each stage of the organization lifecycle. How well or how poorly leadership addresses the challenges and demands of each stage will determine the success or failure of the organization. The following is a brief description of each of the 10 stages of the corporate lifecycle:
Research Paper titled “Innovation through Intrapreneurship – A Management’s Perspective” on how manager's can foster an environment of innovation & spirit of startups in an Enterprise.
In his previous bestseller, Built to Last, Jim Collins explored what made great companies great and how they sustained that greatness over time.
One point kept nagging him, though — great companies have, for the most part, always been great, while a vast majority of good companies remain just that: good, but not great. What could merely good companies do to become great, to turn long-term weakness into long-term supremacy?
Collins and his team of researchers used strict benchmarks to identify a group of eleven elite companies that made the leap from good to great and sustained that greatness for at least fifteen years. The companies that made the list might surprise you as much as those left off (the likes of Intel, GE
and Coca Cola are nowhere to be found).
The real surprise of Good to Great isn’t so much what good companies do to propel themselves to greatness — it’s why more companies haven’t done the same things more often.
Companies that have prospered over long periods of time through multiple product life cycles and several generations of leadership. six years of intensive, qualitative research on what makes winning companies exceptional and different including their practices and habits.
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This eBook Board Governance for Private Business is based on the most common corporate governance questions we receive from private business owners. Most private business and family business organizations have Boards of Directors. However, the majority of private business Boards do not focus on corporate governance. At some point - often in preparation for an exit - these Boards explore the benefits of a governance Board and how to implement it. This eBook is a short read. Every page is an answer.
Building bench strategic planning ceos executive successionPwC
Putting the right talent at the top is critical for boards and CEOs who need to ensure their companies thrive in today’s dynamically changing landscape. To compete and win, companies need to cultivate executive talent and teams that can recognize and seize strategic opportunities in constantly shifting conditions. Do you have a succession process that can put the right talent at the top?
Corporate Governance a Balanced Scorecard approach with KPIs between BOD, Exe...Chris Rigatuso
This paper, from 2003, during my time at Oracle, was an early attempt to define metrics for inducing accountability between BOD, executives, and operating management of corporations. It's geared to large companies, but the lessons are broadly appreciable. It was published in CFO Reviews by Anderson Consulting, and other places. It predates the SOX Sarbanes Oxley laws that were a result of the Enron Scandal.
How to attract (and hire and keep) a capable portfolio company ceoLeslie S. Pratch
Sometimes private equity firms have trouble landing the CEO of their dreams. The firm identifies him or her (or thinks it has) but then the candidate chooses not to pursue the opportunity or even turns down the offer. While some of the blame may fairly belong to a search firm, much of the blame may belong to the private equity firm. You may not be doing everything you can to be attractive to the best CEOs. And even if you haven't had a problem, you might have some room for improvements that could help you, your CEOs and your investors.
RE Chapter 34 Building an ERM Program at General MotorsCOLLAPS.docxaudeleypearl
RE: Chapter 34: Building an ERM Program at General Motors
COLLAPSE
Top of Form
1. What are the pros and cons of having risk officers as part-time assignments within different functions and business units?
The pros and cons of having risk officers as part-time assignments within different functions and business units are listed below:
Pros: The organization's advantage by utilizing low maintenance workers for hazard the executives as the compensation rate the business uses to moderate maintenance representatives are generally smaller than a typical working hour.
Cons: The hazard happens the control measure may not be as robust as when they are available along these lines a ton of harms may happen. Low maintenance laborers won't be nearly as frequently as your full-time staff. It may take them longer to become accustomed to your organization's way of life or become acquainted with the projects utilized usually.
2. Can you think of a company whose strategy failed due to its not considering the actions of external players?
On the off chance that the organization would have had or utilized better hazard the board and had the option to test the new programming before going live with it, Knight Capital may at present be a money related contender on Wall Street today. Or if nothing else had the option to recuperate from their misfortunes and remain the pioneer that they used to be. Organizations like Knight Capital must make arrangement for everything, including short and long haul dangers. Hazard the executives is pivotal to the achievement all things considered, and for this situation, was not centered on enough.
3. Do you think that companies need to experience a crisis to take risk seriously?
They can gain from their very own understanding and by leading a hazard examination to acknowledge potential dangers that are dangerous to their firm. No, organizations don't have to encounter an emergency to pay attention to the hazard. Organizations become better by learning their business condition and taking a gander at what their rivals are experiencing. Organizations today have installed chance administration forms in the majority of its specializations, which is an unmistakable sign that they've paid attention to it tremendously. Organizations execute hazard the board plan which covers how they can deal with various dangers directly before they occur.
Reference:
Fraser, J., Simkins, B., & Narvaez, K. (2014). Implementing enterprise risk management: Case studies and best practices. John Wiley & Sons.
Bottom of Form
RE: Chapter 31: Bon Boulangerie
1. How does Ray’s strategic objective translate to the operational level, that is, what is his key operational objective(s) for the wholesale business line?
Ray’s a strategic objectivethattranslates to the operational level that Bon Boulangerie pastry shop target ought to be expansionary, given it's present remaining in the market. A market head can keep up, develop, and ensure its the situation in t ...
How to get what you want (and move -- fast -- when you don't)Leslie S. Pratch
Not everyone is equally good at all parts of the "private equity person" role – some investors are better at sourcing deals, buying companies, or raising money than at being director or leading the Board. To be great at guiding portfolio companies, you need to know when and how to work with a CEO who will not always (or maybe ever) be pleased with the Board. Getting each party to do their part in achieving the aims of the investors – a job they must do together – benefits from planning, skills, and knowledge.
Getting the right Board is more critical than ever to develop an effective blend of talent and cooperation. Endeavor Management has developed processes for identifying and evaluating Board strengths and competencies to create competitive advantage.
Business Law Training | Corporate Governance for Closely Held Businesses: Imp...Quarles & Brady
Many small or start-up companies may think they don’t need, or think they lack the resources, to follow formalities and maintain adequate documentation. However, to avoid potential liability and appropriately manage risk, all businesses – big, little, old, and new – must prepare, review, and update necessary business documents. Hear practical tips and insights for counseling clients and supporting their officers and boards.
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Enterprise Risk Management - Aligning Risk with Strategy and PerformanceResolver Inc.
COSO, which has provided global thought leadership and guidance on internal control, enterprise risk management, and fraud deterrence for over three decades, recently released a draft update to the original COSO ERM Framework. This framework is widely used by organizations to enhance their ability to manage uncertainty, gauge risk, and increase stakeholder value. However, significant new risks have emerged since the Framework was released, demanding heightened board awareness and oversight of risk management, as well as improved risk reporting. For those organizations exploring ESRM – these themes will be strikingly familiar and the lessons learned, highly relevant.
Presentation by: Bob Hirth, Global Chairman of COSO.
Is your company’s human resources operation a true “business partner” that makes a major contribution to your bottom line? Or does it merely fulfil the daily tasks of hiring, firing and paying your employees? If the latter, don’t worry – that can change. So say the human resources experts who founded the RBL Group and the RBL Institute, a consultancy and an educational organization dedicated to helping HR leaders attain new levels of professionalism. Using the institute’s tools and tactics, you can “transform” your human resources department into a valued, knowledgeable and contributing member of your corporate team. While you don’t have to be a human resources professional to benefit from this book, its HR-speak presents a pretty dense thicket that might daunt a novice.
Why is a great company culture so rare? How can you make sure your organization has one? The good news is that creating an inspiring and sustainable culture is not as hard as you might think. Dr. David “Doc” Vik reveals the keys to success in The Culture Secret.
A remarkable culture begins with visionary leaders who help their teams take a holistic approach to creating engagement inside their companies and sharing it with customers. Discover how to take culture beyond casual Friday and into more meaningful conversations like:
•Driving Vision
•Defining Purpose
•Clear business model
•Unique/WOW factors
•Meaningful Values
•Inspired Leadership
•Great customers and customer service
•Brand enhancement
•Experience and the emotional connection
If you don’t think you have to focus on attracting—and retaining—the best employees in today’s hypercompetitive war for talent, you are living in the past. The employees and customers of today have a choice and a voice. The secret to culture is simple: take care of your people, never stop innovating, and leave customers wowed. Build a better culture to secure the future for any organization
Drawing upon a six-year research project at the Stanford University Graduate School of Business, James C. Collins and Jerry I. Porras took eighteen truly exceptional and long-lasting companies and studied each in direct comparison to one of its top competitors. They examined the companies from their very beginnings to the present day -- as start-ups, as midsize companies, and as large corporations. Throughout, the authors asked: "What makes the truly exceptional companies different from the comparison companies and what were the common practices these enduringly great companies followed throughout their history?"
Filled with hundreds of specific examples and organized into a coherent framework of practical concepts that can be applied by managers and entrepreneurs at all levels, Built to Last provides a master blueprint for building organizations that will prosper long into the 21st century and beyond.
How Stella Saved the Farm is a simple and logical book based on a story which narrates the learning process about making innovation happen. The book is divided in two parts and consists of total nineteen chapters. First part carries nine chapters and remaining are under the second part, which explains the conversion of idea into innovation and then great success. The story is about the competition of two farms one run and managed by animals (Windsor farm) and another by human beings (McGillicuddys farm). Windsor farm is working through change and innovation where the status quo is no longer good enough. Interestingly, in view of poor performance of Windsor farm McGillicuddy is hoping to take over the Windsor farm, but due to the innovations, Windsor farm crosses all hurdles and gets a remarkable status in the business.
Rumelt describes strategizing as identifying pivotal issues within your market and your industry and making a plan focused on forceful, results-oriented action. He reminds readers that strategy has little to do with ambitious goals, vision, leadership, innovation or determination. For many business leaders, strategy means promulgating meaningless slogans that tout impressive but unrealistic goals. A sound business strategy presents a specific action plan to overcome a defined challenge. Rumelt says good strategy involves multiple analyses and the painstaking development of thoughtful, expertly implemented policies that surmount obstacles and move the firm profitably ahead.
Can passion be taught? Can it be fostered? The answer is yes. But perhaps more accurately, a team leader must create the right conditions for passion to emerge. Those conditions must be nurtured, not unlike a gardener creating the right conditions for his plants to flourish. Make your job easier. Get the inside scoop on the secrets of success that motivate teams to top performance. In the matrix of workplace roles and responsibilities, managers are pivotal to corporate success. Yet a manager is often the unsung hero who must adapt to demands from all sides—and do so with little or no training, and without mentorship for the role. Learn from Dan Bobinski, who draws from 20 years of consulting experience, extensive studies of best practices, and the latest in neuroscience research. You'll learn the principles and methods top managers use to develop passionate, engaged employees who are dedicated to success. You'll be able to:
— Motivate without manipulating
— Turn mistakes into a fervent drive for quality
— Equip teams to enthusiastically adapt to change
— Create environments in which people strive for excellence—and more
Today's workforce requires managers to be more than just a person in charge. Creating Passion-Driven Teams show you how to tap your team's natural motivations and achieve consistent, sustained top performance.
"I'm the boss!"
It's a common mistake to think management is defined by formal authority—the ability that comes with a title to impose your will on others. In fact, formal authority is a useful but limited tool.
People Want More Than a Formal, Authority-Based Relationship with the Boss
Many managers—especially those who were achievement-driven stars as individual performers—don't even think about relationships. They're so task oriented that they put the work to be done and their authority as boss at the heart of what they do and assume they can ignore the human aspects of working with others.
The problem is that most people don't want your authority to be the be-all and end-all of the relationship. They want a personal, human connection, an emotional link. They want you to care about them as individuals. They want you to encourage their growth and development. Research tells us this kind of human relationship with the boss is a key factor determining an employee's level of engagement with the work.
We know of a small-company owner, a warm, decent woman, so pressed for time she consciously decided to avoid small talk at the office. She never opened up to people about herself or asked about their lives and interests. She didn't, that is, until her people rose up and expressed, through an intermediary, that they hated how she treated them. They wanted a real human connection with her, even if she was "the boss."
Value for the Reader :
The reader will walk away with a set of highly referred tools for increasing the personal & professional Mojo, which the author defines as “ That Positive Spirit towards what we are doing now that starts from the inside and radiates to the outside”
He defines his purpose as “ helping successful people achieve positive, lasting change in behavior “ . It is a real world advice embodied in simple processes for the reader to consider using that can improve his or her thinking , behavior and results.
Very thought provoking book and helps the reader to lead a happier, more purposeful and more productive life.
We attempt or avoid difficult conversations every day-whether dealing with an underperforming employee, disagreeing with a spouse, or negotiating with a client. From the Harvard Negotiation Project, the organization that brought you Getting to Yes, Difficult Conversations provides a step-by-step approach to having those tough conversations with less stress and more success. you’ll learn how to:
· Decipher the underlying structure of every difficult conversation
· Start a conversation without defensiveness
· Listen for the meaning of what is not said
· Stay balanced in the face of attacks and accusations
· Move from emotion to productive problem solving
In the continual quest for sustainable growth, companies
have traditionally focused on the competition.
They have fought over the same customers, tried to
improve on the same benefits, and hoped to wring
profits from a shrinking revenue stream. In Blue
Ocean Strategy, professors W. Chan Kim and Renée
Mauborgne argue that the key to success is to make the
competition irrelevant. They offer a practical, tested
analytical framework that innovators in any sector
can use to create new, uncontested market space. In
this “blue ocean,” organizations can take advantage
of untapped demand and deliver powerful leaps in
value—both for their customers and for themselves.
Emotional Intelligence 2.0 , a self-help book by Travis Bradberry and Jean Greaves, provides a toolkit and guide for readers to increase their emotional intelligence (EQ), which the writers say can be a benefit in business and personal relationships.
You can no longer count on a return to “ Normal” competitive conditions. The business world is flat, with capital & knowledge able to move anywhere instantly. Brands are losing value, regulations are increasing and competitors can come out anywhere. Filtered information, Selective hearing, Wishful thinking, Fear and Emotional over investment can all act to prevent an organization from Confronting and dealing with reality.
As a way to understand reality, the authors put a high premium on business savvy- the ability to understand the fundamentals of a business, and the connections between them. The book presents a model and process to help leaders learn business savvy to recognize the position of their business in wider external realities and to take action based on that understanding.
The triple bottom line consists of financial profit (or success), social justice, and environmental protection. It is sometimes summarized as “Profits, People, and Planet.” An intimately related concept is “sustainability”---corporations that are built to last, societies that are stable and just, and a global natural environment that is in a healthy equilibrium. The basic argument is that we live in a time when a narrow, short-term focus on the financial bottom line alone will generate dysfunctions among people and in the environment that will come back to bite the corporation.
Sustainability and the “3BL” are, instead, about mutual benefits flowing in all three directions. The challenge is to find the sustainability “sweet spot” (think golf) where all three interests coincide. Example: Toyota’s Prius low-fuel hybrid benefits the environment, the people who build or buy them, and the owners of the company. Certainly there will be trade-offs; 3BL choices and strategies will require negotiation and compromise. But this is now an economic reality, not just an altruistic dream
It could be argued that what’s new here is just a strong case that financially successful companies must think more broadly and holistically and be sure to take into account all their stakeholder interests, including the environment and society. But it is still the financial bottom line driving the business.
Business ethics is a huge canvas, bigger than sustainability, CSR, corporate governance, or the 3BL. Business ethics is about doing the right thing and building good organizations. Business ethics and values grow out of purposes, missions, and visions and are organically intertwined with corporate cultures. There are more than three bottom lines---there are bottom lines related to every stakeholder. Business ethics doesn’t just ask how to keep three of those stakeholders (owners, environment, society) going and make them last (sustain them) but about what is right and fair and just, about what would constitute excellence and success.
THE Bhagavad Gita is an Indian spiritual text of about 700 verses. The classic takes the form of a conversation between Krishna and Arjuna. The book by Debashis Chatterjee weaves their beautiful battlefield conversation into a narrative on the problems faced by leaders such as Arjuna and the solution provided by Krishna from a perspective that is both compelling and contemporary.
In this book, Krishna guides Arjuna through the ABCs of leadership. A for authenticity or truth; B stands for Being, which is the fundamental raw material for becoming a leader; and C stands for Convergence, which a leader achieves between his or her current reality and his & her goal, or between a problem/ challenges and its solution.
In the chapter “Leaders are Masters of their Minds”, the book poses the question: How does one begin the conquest of the turbulent mind? Krishna’s prescription is to return to the calm and stillness of the real self. Self-image is characterised by change and anxiety while the real self stands still in intense observation.
Stillness is the power behind intense action. Timeless leaders have taught us the art and science of always being still. Timeless leaders succeed only by the application of stillness. A mind that is restless, anxious, and nervous always misses the mark. Only a steady, controlled, almost machinelike hand can shoot the arrow that hits the bull’s eye. Krishna speaks of being indivisibly one with one’s goal, even like the arrowhead that has struck into the target.
An undivided concentration naturally brings about an absolutely unshakable stillness. The journey towards self-realisation involves the disciplines of silence and solitude. The Bhagavad Gita tells us: “The unreal has no being: the real never ceases to be. The final truth about them both has thus been perceived by the seers of ultimate reality”.
In the concluding chapter, the book relates the plight of the modern leader stuck on the information superhighway. Krishna argues that the busy mind is a mob of unprocessed thoughts and emotions. The only way to deal effectively with this mob is to create distance between the mob and the observer, who can now see the mob without being part of it. This observer within the leader is like the screen on which a filmed drama is projected.
By reading this book or the summary you learn about
· Why Leaders are effective because of who they are on the inside –Being of the person.
· How to go the highest level of leadership by developing character qualities from the inside out.
· How true commitment inspires and attracts people.
· How to start and sustain the process of continuous personal growth.
The commonly held belief that life gets easier at the top is partly true. The loftier your role in a large enterprise, the more control you have over your day-to-day activities and more you are compensated for them. But the challenges also get tougher. For one thing, you are more visible. Your mistakes, and your ability to recover from them will be noticed. Also, fewer positions exist at that rarefied level. To advance, you have to either displace someone above you or create an entirely new business. Failure is not an option, unless you can make it seem like success. To manage all this with Integrity- that is a challenge indeed.
There are two ways to proceed. You can practice relentless discipline: curbing every impulse, making every moment count , and preparing diligently for each potential challenge. Or you can approach the world with insouciant savoir-faire, trusting that your charm and resourcefulness will get you through while making it all look easy.
At the heart of this book is a question about the proper way to live. To what extent must we lead disciplined lives to be powerful people? Is that discipline a matter of duty, compensation for the original sin of being imperfect, or is it a matter of joy, of calling forth the inner golden virtue that lies deep within all of us ? In Goldsmith’s eye, it is both- and it is both- an if you dare to take on the practices he recommends, you may come to agree with him.
John Maxwell’s “The 21 Irrefutable Laws of Leadership” is a book that I have found quite helpful in measuring my own personal growth in leadership abilities, as well as in finding the areas where I struggle or need to grow. The premise of this book is not to say there are only 21 principles concerning leadership. That idea is clearly false, proven by the number of leadership books, articles, blogs, and podcasts available today. Rather, accord to Maxwell, there are 21 “laws” to leadership that are universally true no matter where one may lead in any culture or area of society. (Note: Sociologists generally agree that there are 7 “areas of society” which are business, government, media, arts and entertainment, education, the family, and entertainment.)
Since each chapter of this book discusses one of the leadership laws, it will be most beneficial for this book review, to walk through theses laws one at a time.
Basically this books is about to how hire good talent. The main point is about the correct questions –Not WHAT, but WHO. This mean that we should think about people first of all, try to find only best candidates.
The main challenges we face are
• Don’t clearly represent the duties of the employee in the role or declared position or a new position.
• Not enough suitable candidates
• Not sure in an ability to choose the best candidates
• Lose good employees.
The best acquisition process consists of 4 Steps
• List of goals for the role we are hiring – what we expect that role to deliver – outcome.
• Source
• Selection
• Closing the deal
The Selection or interview process is the KEY to Success where we need to invest quality time and right interview panel
• Screening interview
• Qualification interview
• Focus interview
• Interview with recommenders
Playing safely is not safe in today’s fast-paced competitive business environment. An individual, who seeks to stand out from the mob and practise novelty in highly uncertain business climate, works beyond the limits. Whitney Johnson has used the term “Disruption” – to understand why some individuals succeed in outstanding ways.
The title of the book i.e. “Disrupt yourself” inspires us to make the jump onto new learning curves, innovate, and stay at the top of the game. It shows the inconceivable value of recognizing what you are good at and finding unpredicted ways to use those strengths to the marketplace. The dramatic ‘jumps’ that Johnson encourages us to take truly form the basis of creativity and success.”
“The author has made an attempt to apply the lessons of disruptive innovation to personal growth. She shows us how to pursue roles suited to our own strengths, to follow our own unique and innovative way of thinking and doing – and to significantly increase our efficiency, creativity, and happiness.
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Recruiting in the Digital Age: A Social Media MasterclassLuanWise
In this masterclass, presented at the Global HR Summit on 5th June 2024, Luan Wise explored the essential features of social media platforms that support talent acquisition, including LinkedIn, Facebook, Instagram, X (formerly Twitter) and TikTok.
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
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A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
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Learn how to use Binance Savings to expand your bitcoin holdings. Discover how to maximize your earnings on one of the most reliable cryptocurrency exchange platforms, as well as how to earn interest on your cryptocurrency holdings and the various savings choices available.
Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
(i.e., industry structure in the language of economics).
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Business Valuation Principles for EntrepreneursBen Wann
This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
Improving profitability for small businessBen Wann
In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
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2. About Ram Charan
Ram Charan, Ph.D, advices CEOs and boards. He is a
popular author who published 15 other business books ,
including Execution, a best seller he co-authored. And
also books Leaders at all levels, Boards that deliver and
Boards at work . He is a member of 3 corporate boards.
Directorship magazine named him as one of its top 100
directors
He is Known for his insights and practical wisdom,
Charan has counselled some of the World's most
successful business leaders.
He has an MBA and a doctoral degree with Corporate
governance as a field of study from the Harvard
Business School
3. The World as a director has suddenly changed. We seen members of the boards take the heat when
their companies imploded. The managements of Lehman Brothers, Bear Stearns, Merrill Lynch, and
Washington Mutual clearly failed, but so did their boards. Now the board of every company beset with
problems is coming under scrutiny.
The pressure is on. The board must own up to its accountability for the performance of the Corporation.
Governance now means leadership.
Boards must change their modus operandi to address the new and complex issues that are emerging.
These include
Ensuring liquidity in the context of the global financial crisis
Setting CEO performance targets in a very uncertain economy
Assessing strategy and enterprise risk under extreme volatility
So what should boards do now? What should they be talking about in their meetings and executive
sessions? What decisions must they make? How assertive must they be regarding company priorities
and operating goals?
In Owning Up, business advisor and Corporate governance expert Ram Charan answers these and other
burning questions on the minds of directors and business leaders. He describes best practices that are
emerging in boardrooms he has observed first-hand. And he provides practical recommendations on a
range of issues, from compensation to dealing with external constituencies. Wisely attuned to the human
side, he confronts the need for some boards to refresh their composition and for others to rebalance their
board dynamics.
Directors, CEOs, General Counsels, and Operating Executives will find here the guidance they need to
meet the new and rising standards for Corporate Governance in this demanding business environment.
Happy Reading ……
Prelude
5. Depending on your industry & company’s competitive & operational situation ,
the board needs some specialists.
For E.g.: if the company is entering into Chinese market- you need a board
members with China expertise.
Is the company’s challenges is logistics – then add a supply chain expert to
the board .
The governance committee must ensure the right mix of members
To have the board’s strength & areas of improvement, have each Director fill
out a “ Skill-matrix” .
Anticipate the expertise the board will need in the future- comprehensive
knowledge of capital markets, Innovation processes – not just what is needs
now
Target new directors who have the necessary know-how & personalities that
will mesh well with the other board members.
It is must that the governance committee should review & recommend on
board composition & succession.
1. Does the Board have the Right Members?
“ Directors should have the freedom to raise hunches & ask questions about almost any topic
under the board’s review ”
6. 2. Is the Board paying attention to the Organization’s Risks?
7. Boards that do not emphasize risk management are liable to see their companies
suffer.
Risks are – Internal ( like Enron) or external like they were in the 2008 financial
crisis.
Some risks develop almost overnight – Like 2008 oil price escalation.
Risks do not have to be imminent to be dire; consider global climate change.
Board must balance management’s response to risk against profitability & other
concerns.
Can your company refinance its short-term debt quickly.
Boards need to have a handle on potential risks before they turn into full blown
disasters.
View financial risk, the most crucial kind, in terms of the economy overall and in
light of your industry, strategy & operations, politics and geopolitics, reputation and
corporate culture.
“Name a risk committee as the board’s watchdog”.
Make sure the board explicitly discusses risk at least once a year
2. Is the Board paying attention to the organization’s risk?
“ Shareholders are the real boss- the sooner boards realize this fact & live up to their obligations
to represent them, the better”
9. Some disasters are impossible to see.
They can come out of nowhere & cause devastating ruin.
They are “ Unknowable unknowns”
Other disasters are “Knowable unknown”, i.e. they are disruptions that they have
happened before, usually at random.
Boards must assist the damage control , if the disaster happens.
Boards must be act in advance to mitigate some negative effects of knowable
unknowns.
Boards should review & assess their companies crisis control plans
Planning for unknowable unknown is impossible, but board can play a useful role if
such a crisis happens.
In can ensure that the crisis team includes people “ with the skills to seek and sift
through information form a large variety of sources” & who can “ construct various
scenarios on the fly “.
It also must be prepared to take charge if management falters during the crisis.
3. Is the Board ready act in crisis ?
“ Crisis can strike any corporation without notice, potentially destroying huge amounts of
shareholder value “
10. 4. Is the Board Ready to select the CEO’s Successor ?
11. CEO can make or break the company . The board has the critical
responsibility of determining who will lead the company.
CEO’s personality & business strengths are crucial, but also make sure the
person you select matches the company’s “ Strategic directions & the
business environment “.
Every board should have a list of strong, vetted CEO candidates & be
ready to approve a new leader within a couple of years or more quickly, if
necessary.
In an emergency, a board must be ready to name a new CEO
immediately.
Board need a succession system to spot & nurture potential leaders early
in their careers .
The board should enhance these up-and-comers’ professional capabilities
& accelerate their development so it always has a good bank of
candidates.
Include the CEO in succession planning
4. Is the Board ready to select the CEO’s Successor ?
“ Boards must be offensive to ensure the company has the right CEO at all times”
13. Developing & implementing the right corporate strategy is vital the board
must contribute.
As business volatility increases, current strategies many not make sense
in the long run.
Some CEOs think that directors should not be involved in the strategy ,
since they may not understand the business in a nitty-gritty way.
This can be an advantage when it comes to strategy.
Board members are not liable to suffer from a myopic “ can’t see the forest
for the trees” viewpoint.
The board must be engaged strategically with the firm’s “ business units, “
its “ Portfolio ( its product line or technologies ), and it functional
capabilities- that is its ability to do what it wants & means.
The board’s knowledge can help management clarify strategy.
The CEO should present the company’s strategy & receive feedback
during the annual board retreat.
5. Does the “ Board own the Strategy ?
“ The financial crisis in 2008 laid bare a long buried truth: that many boards do not really own the
strategy of their company ”
14. 6. Does the Board have enough data for Good governance ?
15. Effective management & oversight requires quality information.
This includes non-financial data such as backlogs on orders, supply chain
performance, HR process governance , IT governance etc.
The board needs to know what is going on outside the company –
Competitors’ margins & marketing activities, compensation etc.)
Management should give directors information on “ Short-term benchmarks”
as well as employee recruitment & retention.
Assign minimum one director work with the management to secure the right
information.
Set the data up in easy-to understand dashboards, including management
commentary when necessary.
Power-point presentations are usually one-way affairs.
The board should insist on back-end-forth discussions about every
presentation.
Boards should also seek insights from employees & from experts outside the
organization.
6. Does the Board have enough data for good governance?
“ Governance now means leadership “
16. 7. What is the best way to determine the CEO’s
compensation?
17. Planning CEO compensation is a sticky matter.
The global economy is changing & stock prices are in constant motion.
In this volatile environment, how should boards properly compensate
CEOs?
A strict formulae will not work.
The board should establish a “ Compensation Philosophy” outlining the
main factors involved,
Account for the CEO’s completion of major goals, a “ range of
performance targets” & “ uncontrollable macro factors” , such as capital
market flux.
All board members should participate in CEO compensation decisions.
Consultants are helpful, but the board should do its own homework on
compensation trends.
Anticipate some CEO tension about this topic
7. What is the best way to determine CEO compensation ?
18. 8. Does the board have the right “ Lead Director”?
19. Without a strong leader who can promote effectiveness and collegiality,
your board can become “ Factionalized, unfocused & indecisive”.
The right leader will keep the board cohesive, engaged and moving
steadily in the right direction.
Good board leaders are great communicators who can explain the
board’s view point to management.
They help decide which issue the board should debate.
Along with the CEO, the lead director keeps meetings productive.
He or she is the vital link between the board members and the CEO.
Choose a lead director based on his or her business judgement, social
skills & personality traits, such as “ composure, an even temperament,
courage & containment of ego”.
The members should establish the leader’s mandate.
8. Does the board have the Right “ Lead Director” ?
“ Many boards have a director or two who render the collective body ineffective or create
unwarranted strain in the CEO-board relationship
21. The governance committee has a vital task; ensuring that the powerful
CEO still answers to the board.
This committee , which should have 3 to 5 members, must make sure
that the board has the right “ people, processes and leadership” to do its
work.
The governance committee has several ways to make sure that the board
meets its responsibilities, including carefully selecting board members &
the lead director, monitoring planning- committee activities & assuring the
smooth transition of board strategies.
It should establish the right balance “ between managing & governing”.
Conduct routine evaluations of how the board functions.
It can draw upon educational programs and other resources to learn “best
practices in corporate governance “
9. Is the Governance committee doing its job ?
“ Too many boards don’t know what they’re missing until it’s too late.”
22. 10. Is the Board making the best use of its time ?
23. Board members are not sinecures.
Directors must work hard and put in the time necessary to get the job
done.
This may mean “ full-day board meetings , committee calls” other sessions
as situation demand and “ lots of preparation time outside of the
boardroom”.
By the same token, ensure that every minute you devote to board
business is well-sent.
Don’t waste time on bureaucratic details, including myriad resolutions.
Instead , focus on important issues, such as ‘ Strategy, risk, Succession”.
Narrow the board’s priorities to no more than half a dozen issues for the
upcoming year.
Organize a “ 12-month priorities list” to discuss at board meetings.
Management must help by providing succinct reports on primary corporate
challenges
10. “Is the board making the best use of its time”?
“ Most of the information packages management sends out before board meetings are chock full
of great data, but the directions on what to do with it are usual dismal “
25. Executive sessions are board gatherings without the CEO, although he or
she might participate in the opening portion of the meeting.
Such meetings, which enable directors to speak frankly, are a valuable
innovation in corporate governance.
Outside directors particularly like executive sessions, which are good
forums for discussing vital issues without appearing naïve or ill-informed.
Expert executive sessions to provoke some initial degree of strain between
the CEO and the board.
However, such meetings eventually can enhance their relationship.
Holding executive sessions tow or three times a year allows the board to
focus on its primary concerns, which may include worries about senior
executives.
In an executive session, the lead director should ask broad questions &
open the floor for candid discussions.
11. “ Can Executive Sessions help the board own up?
“ The managements of Lehman brothers , bear Stearns, Merrill Lynch & Washington Mutual
clearly failed, but so did their boards”
26. 12. Can Self evaluation Improve the Board’s work?
27. Best way to know if your board is performing well is to carry out
evaluations.
The board must formally examine the calibre of its rulings & activities .
Board should conduct a meaningful self-evaluation of its operations&
output.
The best way for the lead director ( or governance committee chair or an
outside expert) to “ ask open-ended questions in one-on-one interviews”.
The questions and the way the interviewer synthesizes the answers both
matter.
Equally vital is the facilitator’s creditability.
As your board critiques itself, understand the board decisions may take
years to evaluate properly.
Critically examine the board’s leadership & conduct peer reviews.
Be sure the board follow up on the evaluation’s findings with meaningful
action.
12. Can Self-evaluation improve the Board’s work?
“ Many boards are reluctant to do a peer review, but it is very valuable instrument for improving
corporate governance”
29. Does your board spend too much time digging through the weeds instead of
focussing on the big picture ?
Management should attend the operational challenges
Spending the board’s limited time on micro challenges is inefficient.
Indeed, it can be counter productive , putting the CEO on the defensive while
turning the board’s attention away from “ Strategy, External trends,
Succession & risk “.
During board meetings, don’t lecture or grill the CEO.
When it comes to the CEO’s question –an-answer sessions, the way you ask
for information makes all the difference.
Pose broad questions, such as, “ what is our process for adjusting prices as
inflationary conditions change?” or
“ What benchmarking are you doing to improve pricing process ?”
Don’t harangue the CEO about minor points.
The lead director should help other directors avoid micromanaging.
13. How can the Board Quit micromanaging ?
“ A trail lawyer in Washington mentioned tin 2008 that he is certain there will be a flood of
shareholder suits- against directors, not just CEOs or executive”
30. 14. How well does the Board handle “ Activist Shareholders & their proxies”
31. As a result of Sarbanes-Oxley act & related regulations, US shareholders
are thoroughly engaged in how companies manager their affairs.
Some activists shareholders insist on board seats for themselves or
proxies.
Previously shareholders would communicate with the CEO or chair.
Now directors often speak directly to shareholders.
Appoint one board spokes person to handle all shareholders
communications.
Treat activist shareholders with respect.
Deal with their concerns- usually management, finances, operations &
asset value- in a substantiate way.
Seek experts who can determine the validity of investors’ challenges.
Don’t freeze out directors that investors appoint.
Be open with investors & proxy or advisory groups, but don’t let them bully
the board .
14. How well does the Board handle “ Activist Shareholders & their Proxies “?
“ Governance committees must raise their game, just as audit committees have done in the wake
of Sarbanes-Oxley
32. Corporate boards are no longer passive rubber-stamps for the CEO.
Directors must exercise governance, oversight, accountability &
leadership.
To diagnose if your board have the right members, a goo “ Lead director”
and an effective governance committee ?
Is the CEO doing an excellent job- has the width, depth & the perspective
& his /her compensation appropriate ?
Does the firm have an Executive succession plan & a bank of potential
leaders ?
Is the board ready to handle a crisis & cognizant of the company’s/
business risk ?
Are the Directors sufficiently well-informed for governance & strategy
setting? Do they know how to lead without micro managing?
Is the board making the most of its time? Is it holding Executive sessions
& conducting self-evaluations?
Does the board work well with “ active share-holders and their proxies ?
Take- Away