First Friday Book Synopsis

APRIL 5, 2011

Here are brief excerpts from two articles featured by McKinsey & Company. I suggest you read them in the order in which they appear here, then click where indicated to read each in its entirety. I presume to suggest, further, that you register to receive email updates on other resources that are also available at [.].

Crisis 80

Crisis McKinsey Resources Article 80

Harvard Business Review

MARCH 24, 2017

The onus for ethical behavior falls first to the employee. Here are five questions to ask: Do your company’s incentives match its policies? Most companies talk a good ethics game and even make their goals public. But it is the employee incentives that really matter.

Ethics 8

Ethics Company Incentives Policies 8

Harvard Business Review

AUGUST 27, 2014

In order to properly align its incentives to support its mission and objectives, a company must determine what managers and employees believe they are being encouraged to do and not do. Effective leaders don’t sit idly by while hoping their people will behave ethically and perform competently.

Incentives 8

Incentives Performance Review Welch Motivation 8

Strategy Driven

NOVEMBER 6, 2015

Incentives-rewards-bonus plan is annually updated, with realistic, measurable goals. The organization maintains and lives by an ethics statement. Maintains active crisis preparedness and prevention program. Human Resources program is active, professional and responsive to the organization. About the Author.

Succession 50

Succession Strategic Planning Budgeting Goal 50

N2Growth Blog

AUGUST 5, 2010

I don’t know about you, but it’s almost as if we have raised a generation of leaders who feel they have a moral and ethical obligation to be politically correct – WRONG. When you find an organization in crisis, you can most times peel back the layers on poor decision, after poor decision, after poor decision.

Politics 375

Politics Blog Leadership Diversity 375

Harvard Business Review

OCTOBER 11, 2013

The reasoning, backed by several respected scholars, is that leverage was a leading cause of the financial crisis. Leverage ratios might be the O-rings of the financial crisis. The result was an intense focus on risk, including risks related to ethical standards. Ethics Finance Risk management'

Incentives 8

Incentives Banking Ethics IPO 8

Harvard Business Review

DECEMBER 28, 2016

When a crisis unfolds, we are now quick to say, as General Duane Deal said of the Columbia explosion, that “the institution allowed it.” Second, they don’t consider at a human level how their stated strategic intents shape the acceptable ethical boundaries for those who must turn those intents into reality.

Ethics 9

Ethics CFO Technology Learning-by-Doing 9

Harvard Business Review

MARCH 5, 2018

History—and current events—are littered with outbreaks of misconduct among co-workers: mortgage underwriters leading up to the financial crisis, stock brokers at boiler rooms such as Stratton Oakmont, and cross-selling by salespeople at Wells Fargo. In our research, we wanted to understand just how contagious bad behavior is.

Sample 15

Sample Incentives Team Commitment 15

Harvard Business Review

JANUARY 28, 2011

Corporations booking record profits as cities , states , and countries go broke have little (read: zero) incentive to actually do much get people, communities, and society out of this mess. This great crisis is in our economy — and so it might be of our society, culture, and polity. Insiders rarely topple the status quo.

Ethics 15

Ethics Globalization Groupthink Incentives 15

Strategy Driven

FEBRUARY 6, 2015

In order to complete the chain, organizations must insist that suppliers, professional services counselors and vendors show demonstrated quality programs, as well as ethics statements. Educational and incentive programs should be implemented. During tough economic times, investment in a quality program is not costly.

Quality 50

Quality Metrics Strategic Planning TQM 50

Harvard Business Review

MARCH 22, 2018

Over the last decade, industries, academics, and the public sector have turned their focus toward culture and ethics in response to the financial crisis as well as misconduct at a broad range of corporations. naqiewei/Getty Images. But what role does culture play in corporate misconduct, and why do these problematic cultures persist?

Company 11

Company Banking Incentives Human Capital 11

Harvard Business Review

OCTOBER 24, 2014

I spent a dozen years there — a tenure that overlapped with Dudley’s — went on to work at several other firms, and then, after the financial crisis, decided to go back to school. This kind of interdependence has the potential to move the focus back to ethical standards of behavior instead of just legal ones. I now have a Ph.D.

Banking 9

Banking Ethics Long-term Hedge 9

N2Growth Blog

NOVEMBER 23, 2010

In evaluating any relationship in the value chain I’m looking for value, talent, performance, leverage, efficiency, economy of scale, work ethic, integrity, character, discipline and many other traits irrespective of your skin color, age, etc. A sense of entitlement is not a substitute for work ethic and a desire to achieve.

Diversity 350

Diversity Blog Leadership Learning-by-Doing 350

Harvard Business Review

SEPTEMBER 27, 2012

He, and writers in the rest of the section , then go on to talk about the downward pressures on private law firms to sustain profits per partner and the burgeoning crisis in private practice, symbolized by the collapse of Dewey & LaBeof and the exodus of young associates. In these, financial incentives are aligned (i.e.,

Chief Financial Officer 8

Chief Financial Officer Trends Crisis Definition 8

Harvard Business Review

FEBRUARY 2, 2012

Banks have developed fortress balance sheets, improving credit quality by 54 percent, increasing net income and, restoring aggregate lending to pre-crisis levels of nearly $7 trillion. If it had been, there wouldn't have been a financial crisis.). But, to follow Swensen's reasoning, the incentives are all wrong.

Finance 13

Finance Motivation White Paper Banking 13

Harvard Business Review

DECEMBER 4, 2013

Use an evaluation system that links the company’s strategic requirements with the prospects’ individual capacities and performance, with the latter focusing on their integrity and ethics, team building, execution excellence, shareholder return, and personal gravitas—and ability to work in the boardroom.

CEO 8

CEO Tips Long-term Consultative 8

Harvard Business Review

DECEMBER 8, 2010

And the result of an undersupply of disclosure is toxic, perverse incentives. And the systemic result of that is crisis, stagnation, and decline. There are big and small, worse and better, more and less ethical ways to do the latter. Are you fighting the future — or are you fighting for the future?

GDP 16

GDP Hypercompetition IPO Information 16

Harvard Business Review

JULY 17, 2017

How will the crisis of problematic loans in Italian banks be resolved? Finally, the global financial crisis has taught us about the havoc that finance can wreak — and how central the industry is to our lives. Should a subscriber of Snap.com be valued the same as a Facebook user?

Finance 8

Finance Insurance Career Reputation 8

Strategy Driven

APRIL 4, 2014

85% of the time, a formal program of crisis preparedness will help the organization to avert the crisis. Retaining good employees, involving training, motivation and incentives, is yet another matter. The mastery of change is to benefit from it, rather than become a victim of it. 35% of employees steal from the company.

Budgeting 79

Budgeting Succession Consultative Crisis 79

Harvard Business Review

FEBRUARY 27, 2012

While the global financial meltdown and its aftershocks have unleashed a flood of indignation, condemnation, and protest upon Wall Street, the crisis has exposed a deeper distrust and implacable resentment of capitalism itself. Capitalism degenerates into narrow self-interest without a strong ethical foundation.

Short-term 15

Short-term Long-term Ethics Incentives 15

Strategy Driven

MARCH 11, 2011

The way the California energy crisis was handled speaks to Enron’s disdain for media openness. Enron did not demand enough accountability, fairness, ethics and operational autonomy from its outside auditor. Incentive and ‘random acts of kindness’ programs were deleted. The News Media. Community Relations.

Strategic Planning 57

Strategic Planning Committee Golden Handcuff Media 57

Harvard Business Review

JANUARY 17, 2012

Such plans frequently include giving managers financial incentives to do what they should have done before — concentrating on the most promising lines, selling off dud businesses, and "leaning down" operations, often including headcount.

Due Diligence 12

Due Diligence Incentives Hedge Collins 12