I've been thinking a lot about the seemingly steady stream of corporate failures and litigations that have filled the front pages of our newspapers in recent times. What has caused these failures? Why have men and women become so motivated by greed that they have compromised the hand that feeds them?
I've rationalised the situation by deciding that there's been a few bad eggs that have caused the trouble. Most corporate directors and executives behave ethically, I thought. Then I came across this opinion piece published in The New York Times. Deresiewicz tackled the issue head-on. He argued that "capitalism is predicated on bad behaviour". Gosh.
Clearly there is a problem with the system at present. However, capitalism has provided the foundation for many great economies. So, is the capitalist system sound but simply out of balance at present? Or is the foundation that many western economies are built upon fundamentally flawed? Does a new system need to emerge? What do you think?
Thoughts on corporate governance, strategy and effective board practice; our place in the world; and, other things that catch my attention.