Subscribe to my Feed
Archive for January, 2008
« Previous EntriesExcusez-moi, s’il vois plait!
Monday, January 28th, 2008French bank Société Générale has just demonstrated to the world that business ethics are not a uniquely American issue. Already facing a €2 billion writedown due to its exposure to subprime mortgage-related investments, Société Générale reported on January 24th that a single, low-level trader had generated another €4.9 billion in losses by making unauthorized wagers on [...]
Boards should encourage candid communications
Saturday, January 26th, 2008My recent posts have discussed CEOs’ responsibility to present bad news to their Boards fully and fairly. No discussion of that duty would be complete, though, without an examination of the complementary responsibilities of the Board. CEOs are much more likely to be fully candid if Board members create an environment where bad news can [...]
Tiger Woods hits an “apology hole-in-one”
Friday, January 25th, 2008Tiger Woods was as graceful off the golf course as he is on when he magnanimously accepted Golf Channel anchor Telly Tilghman’s belated apology for an offensive comment she made in early January during the Mercedes-Benz championship. Discussing young players’ frustration with challenging the peerless Woods, Tlighman quipped that they should “lynch him in a back alley.”
Ouch.
Commentators [...]
How to deliver bad news to your Board (or anyone else)
Thursday, January 24th, 2008My last post discussed a recent article in the Wall Street Journal that contained this warning: CEOs who sugarcoat bad news when dealing with their Boards run the risk of losing credibility over time. It’s never fun to be the bearer of bad news, but here are some tips that can help management tell the hard [...]
CEOs - Don’t sugarcoat it!
Saturday, January 19th, 2008The Wall Street Journal’s recent governance report featured an article warning Chief Executive Officers of the danger of putting too positive a spin on the news they give to their Boards of Directors. The article warned that a CEO who always paints a rosy picture of the company to the Board may not be lying, [...]
A word to the candidates - values matter, but not the way you think!
Thursday, January 17th, 2008The Presidential nomination process is in full swing, with candidates scurrying all over the country to persuade voters that they have what it takes to lead the country in the coming years. A recent poll issued by Harris Interactive contained some surprises that the candidates might be smart to keep in mind.
The poll revealed that [...]
A good reputation is your company’s best asset!
Tuesday, January 15th, 2008Wall Street Journal columnist George Anders published an article last week titled, “As Economy Slows, Reputation Takes on Added Meaning.” That article boils down to two principles. First, while a booming economy can cushion the harm a bad reputation does to your business, in leaner times a bad reputation can do serious damage to your company’s [...]
Should charities wear SOX?
Monday, January 14th, 2008By now, it’s old news that a wave of corporate scandals a few years ago (of which the spectacular failure of Enron is probably the most famous example) led both lawmakers and business leaders to decide that tighter controls were needed to protect shareholders, employees, and customers from shoddy business practices. Not surprisingly in an age where [...]
$3 Quadrillion? Oh, come on!
Friday, January 11th, 2008The Associated Press reports that restitution claims from Hurricane Katrina have been filed this week with the Army Corps of Engineers. It’s no surprise that some of those claims were substantial - whole towns were wiped away by the storm, and far too many people tragically lost their homes, their jobs, their lives and their [...]
How much do your customers know?
Thursday, January 10th, 2008In this modern American economy, specialized knowledge is one of the most valuable assets professionals have. The reason your customers come to you is that you know how to do something they don’t, whether it’s creating a customized IT system, navigating the complexities of a corporate merger, or conducting open heart surgery. Your professional expertise is [...]
« Previous Entries