TonyJohnston_CNi commented on the following stories on BizSugar
Recession Recovery: 'VW' Ride Coming?
"Shawn, Thanks for your comment. I hope we get lots of new company driven recovery you talked about which will produce a 'V' shaped rebound and not so much of the older company stuff you described which could drive a 'W' or a 'VW' one. Time will tell, but regardless, a better day is coming (just don't know exactly when). Cheers, TJ"CEO Hubris, Fraud & How to Prevent It
"Shawn, I think yours is a healthy, prudent fear, much like the butterflies of anxiety actors get before going on stage. These are the motivators that help make us do well. In companies, making every effort to hire 'good/ethical' people is important, and so is not giving them too much temptation to stray. That is what check and balances are for and that is why auditors insist on proper separation of duties. Doing that helps to prevent anyone from having too much power. In the same way, I don't think CEOs should be allowed excessive power, which is why I made the proposal I did. I'm glad you found value in it and good luck to you in your business. Tony Johnston"CEO Hubris, Fraud & How to Prevent It
"Is not what you say (that fraud causing CEOs have a "lack of a true self and responsibility to the Board, Shareholders," etc) just the flip side of their having having excessive focus on their own selves (i.e. their being ego driven or all about their own "I" as you put it)? Anyway, what do you propose we all do to protect ourselves from those types? That is the key question here I think. Tony Johnston "« previous1234 next »
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Corporate Boards: 14 Questions for You | Biz Money Matters |
"Hey Shawn, Jimmi & Steve, Thanks very much for your comments. They were great and showed lots of thought. I'm pleased for all the positive discussion. As to the Shawn's suggestion that there's a "need to reintroduce some basic entrepreneurial ideas into upper level management" and the board, I agree doing that would boost these people's sense of accountability. Maybe it can be done by making executives and directors 'run the gauntlet' four times (for explanation refer http://en.wikipedia.org /wiki/Running_the_gauntlet): once with customers; a second time with lenders; the third time with shareholders; and then finally, the fourth time with employees. Now if things have gone well, it will be a cheering session. But if they went badly, then those poor souls are going to get pretty beat up. Boy, just think what would happen if we did that to the boards and CEOs of Lehman Bros., GM and Chrysler (to name but 3 companies that have disappointed many)! What do you think? Is this the best way to make those in positions on power and control over large numbers of people and money get with it by accepting a greater sense of personal responsibility and accountability? Clearly, and maybe on a more serious and practical note, it is tough to build more personal responsibility and accountability into organizations, no matter be they large or small. I think these qualities come mainly from people’s sense of moral code and the principals by which they live. And the best way to manage that in business is by carefully watching who gets to join the organization. If solid, ethical people are in charge, and if they are careful to select those who join based on not only their competency but also their ethics - and make sure the company’s management style is positive and not one of control by fear or mindless dictate - then maybe the organization and those that run it will act in a business savvy way and a broadly respectful and responsible way as well as. In simple terms, is this issue not one that strikes at the heart of what building a positive corporate culture is all about? Tony Johnston Compass North Inc. www.CompassNorthInc.com www.TonyJohnston.biz"