There seems to be an ever-increasing problem with our exposure to cyber crime. As directors, we need to ensure that the boards we sit on take this problem seriously because the costs are potentially catastrophic. In just one area alone, that of identity fraud in the UK, it is estimated that £10 billion of fraud is perpetrated against individuals every year. Not only are there financial impacts, such as the recent Tesco Bank customer losses and the potential for big regulatory fines (this could become an even bigger threat with the introduction of the GDPR), and the management and administrative costs of dealing with actual and potential attacks but also the reputational costs. It is probably the latter that could end up being the most costly of all; this issue definitely needs to be on the boardroom agenda!!
De Beers appointed ad agency N W Ayers in 1938 to convince Americans that a diamond ring was the best symbol of love and a pre requisite to a happy marriage. The rest as they say is history.
The weekend press reported that a government-backed report will within the next week propose that FTSE companies should have at least one non-white director on the board by 2021. We will provide an update when the details are announced.
Could you answer the following?
We are happy as to how strategy happens here
We know how we compete and how we do not
We know where we compete and where we do not compete
We fully understand the links between our strategic choices and value creation
Our strategy is clear and is understood by all
Our Key Performance Indicators are superbly aligned to our strategic Key Success Factors
Some research just published suggests that when considering a job offer, today’s professionals consider the organisation’s values to be a significant factor; some 52% of those surveyed would turn down a job offer if the company’s values were either not published or not aligned with their own personal values.
Despite this, 36% of organisations do not include their values on their websites, 61% fail to mention them during interviews and a whopping 75% fail to mention them in their job ads!!
Is this a case of times changing and employers failing to keep up with the demands of younger generations who are now, more than ever, selective about who they work for?
There’s an interesting article in this month’s edition of Director, the IoD’s magazine, setting out the pros and cons of open-plan offices. I suspect that the ideal solution is a combination of both; i.e. open-plan working but with readily available breakout areas or offices for when some privacy or just peace and quiet is required. It would be interesting to hear if anyone has experience or evidence to support either the pro or con camp.
An interesting last question to ask at a job interview..”What would make someone not like you?” Not designed to cause embarrassment but rather to see how people react to an unexpected question. As a recruiter once told me..We advertise for CEO’s and human beings turn up….At the end of the day we hire people and not a resume…
There has been a lot of discussion recently about employee representation on boards and, it seems, this is an initiative supported by the new Prime Minister. We have heard the pros and cons, mostly from existing and entrenched positions, but it would be interesting to hear from anyone who has practical experience this subject.
Here we go again!!
Once again, lack of financial awareness manifests itself at board level. Paul (Reverend) Flowers, former Chairman of the Co-op Bank, admitted to MPs this week that he thought the Co-op’s total assets were about £3 billion; they were actually £47 billion!!!
Lack of Clarity on the Reasons for Success
Great CEOs hold their associates accountable for knowing what causes results.
CEOs focus on what to do and let associates take care of the ‘how’, expecting them to understand the activities that lead to success.
The difference between champions and good performers isn’t always that great.
Champions win consistently because they understand what causes a win.
Successful CEOs encourage the use of reliable, continuously improving and innovative methods of getting work done.
Do you know the 3 biggest reasons for your organisation’s success?