The Economist’s Post

It appears that the #NED role is changing according to a study by Heidrick & Struggles in the US - Hendrick’s report, Board Monitor US 2024: Navigating Shifting Sands. NEDs admit to get more involved in scrutinising operational matters more often; for many, this is a violation of governance and management lines, a weakening of clear accountability principles; but active independent NEDs - arguably the best ones - led by outsanding chairs of the board - have always demanded closer scrutiny, deep dives into matters, and discussions at different levels of management; in fact, had a #stewardship #culture existed, the post office scandal would probably never gotten to such proportions. Perhaps things are finally changing and boards will start to make a real and significant difference not just to business, but o society at large. More: https://lnkd.in/eAgmv-NQ

#CorporateCitizenship — What if I don’t? What if I don’t cultivate genuine #CorporateCitizenship? What if I don’t pay attention to all my #stakeholders? What if don’t consider #CorporateCitizenship as much more than PR? If you don’t take #CorporateCitizenship seriously, you’re asking for trouble. You could lose top talent and fail to recruit from the next generations. You could lose top-quality shareholders or fail to attract them. You could lose profitability because your cost of capital could rise. You could lose competitiveness. You could lose reputation. You could lose trust from regulators, suppliers, customers and the public. You could lose credibility as an M&A partner. You could lose greenwashing lawsuits. You could lose resilience. You could lose the ability to correct or compensate for these setbacks.

We've all witnessed the fallout from corporate scandals. The damage isn't just financial - a company's reputation, hard-earned over the years, can shatter instantly. What's the antidote? Transparency Transparency isn't just about revealing numbers or complying with regulations. It's about cultivating a culture of openness, honesty, and accountability. Think about it. A transparent company isn't just reactive, issuing apologies after a crisis. It's proactive, setting the narrative and maintaining trust with its stakeholders. It shows respect for its customers, employees, and investors. It values their right to know and understand. So, let's look beyond the glossy press releases and the meticulously crafted brand images. Let's push for authenticity, sincerity, and truth in the corporate world. Remember, When the truth becomes the exception, trust becomes a luxury. And trust, in the end, is the most valuable asset a company can possess. #leadership #corporatecommunications #corporateculture

In the article below TLT LLP explore the biggest board challenges, priorities, and areas where general counsel and in-house legal teams can contribute to their organisations’ long-term growth. Two-thirds (64%) of board leaders are concerned that boards are relying on familiar ways of operating rather than innovating their practices. Would you agree?

🔍 Exploring the Underbelly of Corporate Challenges: Unveiling the Silent Killers 🔍 Dive into my latest LinkedIn article shedding light on the clandestine partnership between micro-management and corporate corruption. Discover how these insidious forces can transform profitable organizations into arenas of unrest, jeopardizing the very fabric of honesty and hard work. Let's navigate the pitfalls together and strive for workplaces built on transparency, integrity, and sustainable success. 💼✨ #CorporateInsights #LeadershipChallenges #BusinessEthics

Here is how the zero trust model operates.

BDiS Insights: The Power of the Individual in Shaping Our World (Why Assassinations Work) In today's complex and interconnected world, dominated by an ever-increasing network of corporate structures, the impact of a single individual is often underestimated. This post highlights the significance of individuals and how their actions, whether in business or on a larger societal scale, drive monumental change. Consider political history. The assassination of John F. Kennedy, now widely accepted to have involved the CIA, demonstrates how the removal of a single influential figure can alter the course of history. Similarly, industrial assassinations, though less talked about, have been carried out to suppress innovation and maintain the status quo. The mysterious death of Karen Silkwood, a chemical technician and labor union activist, is a poignant example. Her death raised suspicions about corporate malfeasance. Recently, two aviation industry whistleblowers died just days before giving testimony. I'll let anyone do their own research. The point is, assassinations are effective because individuals make or break progress. Take one out, and entire social movements may crumble. This underscores my belief that all businesses are, at their core, people businesses, regardless of the service or product. It's the individual employees, each contributing their unique strengths, who drive a company's success. Their collective efforts and innovations propel markets and industries forward, ultimately moving our society toward greater progress. As business leaders, it's vital to recognize and nurture the potential within every individual. Manage a successful team by ensuring they can thrive without being micromanaged. Often, it’s best to step out of their way and let them do their job. Watch what happens! More than anything else, this is a call for ambitious leadership. With the right vision, strategy, and commitment, any individual can single-handedly transform their environment for the better. Yes, you can! #BusinessStrategy #IndividualImpact #BDiSInsights #Leadership #Innovation #PeopleBusiness

I very much enjoyed my chat with Douglas Noll on Authority Magazine on my perspective on why corporate boards sometimes misfire. Being able to balance short-term goals with the long term vision for the company is what differentiates a great board from a mediocre one. A good board should leverage its experience and know-how to help the execs to decide on the right short term bets. Board members should use these same skills to help the execs see and understand potential sustainable long term plays — as well as identifying possible pitfalls ahead.| https://lnkd.in/ehUpDPin

Why Strong Corporate Governance Matters? ®Investor Confidence: Strong governance builds trust with investors, leading to a higher stock price and easier access to capital. ®Reduced Risk: Clear frameworks and oversight minimize legal issues, financial scandals, and reputational damage. ️ ®Strategic Decision-Making: Transparent communication and a focus on long-term value ensure informed decisions that benefit everyone. ®Attracting Talent: Top performers seek companies with ethical practices and a clear vision. A strong governance structure makes you an employer of choice. ®Sustainable Growth: Good governance fosters a culture of accountability and compliance, leading to sustainable growth and a positive impact. #corporategovernance #leadership #business #ethics #sustainability #businessconsulting #propergovernance

We are currently experiencing one of the biggest corporate governance blindspots of our time. And this blindspot will be incredibly damaging for the world. Having over 20 years experience of observing corporations, how they do what they do - what makes the difference between performance and non-performance I've come to a pretty strong view on corporate governance frameworks. If we as a global corporate community say that we are committed to creating a better future for us all. If we say that global economics, environmental issues and geopolitical issues matter. And, if we are people who want and need to have integrity by doing what we say we are going to do - then current corporate governance frameworks are not fit for purpose. The primary purpose of a corporate entity as it stands today is to generate returns for investors. This primary purpose creates a mindset of competitiveness and winning. This has served us very well for the last 100 years. However, it isn't the framework or mindset needed to achieve what we say we are now a stand for. We say we are going to significantly reduce carbon emissions globally - I believe this will be impossible to achieve in competition with one another. Companies who are still in the old economic mindset of 'competitive markets serve the greatest good' are inside a blindspot. CEOs tell me in confidence - that they would do things differently to create different outcomes but they must meet their primary objective of returns to investors. It's their director duty - can't really argue with that. The corporate governance frameworks need to shift - at the request of Investors and Boards who can see that today's past based model is outdated and won't help us create the future we say we want. A new way of collaboration, less competition and more creative solutions as a collective will be alien to many. And I believe that's part of the solution we are all searching for. #corporategovernance #transformation #globaleconomics #collaboration #performanceculture #beingfirst #luminarymindset Luminary Mindset™