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    Do you have a 'heads-up' habit?

    One habit that has served me well for many years is the 'heads-up' habit. It's really simple. Every week, I pause and look ahead, as follows:
    • Every Saturday morning—before breakfast—I look ahead at least four weeks. The motivation is to identify big tasks (typically international trips and major events) loaded into my diary: the objective being to make sure sufficient preparation time is allocated to think, write speeches, build slide decks or prepare well. It gets me thinking—early—about the main points of scheduled talks or important meetings. It has the added benefit of highlighting gaps in trip schedules and, therefore, opportunities to request additional meetings or activities well in advance. I also check trip logistics, especially travel time, accommodation and transport. There's nothing worse than realising at the last minute that an important connection or hotel booking has not been made! This part of the heads-up habit helps me avoid last minute rushes.
    • Every Sunday evening—after dinner—I look ahead seven days. I do this with my wife. We walk through our respective calendars to see what activities we need to plan for, and whether either of us will be home late from a commitment or away overnight (a seemingly simple but incredibly important thing, especially when it comes to planning the evening meal!). This part of the habit helps me manage important relationships.
    In the past, I sometimes lost sight of important upcoming activities (and ended up suffering late into the night trying to make up—the results of which were never that great). However, last-minute rushes have become a rarity since I embraced the heads-up habit. If you don't have a habit to stay of top of your commitments, you might like to try this one. It made my life easier and I seem to be more productive. Also, my wife says that I'm easier to live with!
    Most people I know live fairly busy lives. Western culture and the 'always on' society we live in has done that to us. However, some—by my assessment anyway—have become a bit too busy for their own good. Societal norms seem to reward busyness and excellence, yet cracks start to appear when we get very busy for long periods. We get tired and make mistakes. Our commitment to do things with excellence suffers. How do you cope in such situations? Do you plan well ahead; or, do you manage your commitments on a daily basis; or, do you simply back yourself to keep up with what work and life serves up? 
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    Executive pay: is Thodey's call a signal that enough is enough?

    David Thodey, outgoing chief executive of Telstra, has just gone on record: CEO pay is out of control. Swimming against the tide, Thodey said his remuneration was indefensible, and called for change. A cynic might suggest that it is all very well for Thodey to say these things, especially after he pocketed $27M while he was the chief executive. Nevertheless, Thodey's call is not unique. One in four chief executives think that time is more important the money.
    Is Thodey's call, and those of others, a harbinger of change to rein in executive pay? I hope so. History tells us that gross disparities between the 'haves' and the 'have nots' can lead to uprisings and, potentially, bloodshed. The French revolution, Bolshevik Revolution and the Arab Spring are notable examples, although there are many others. To make some adjustments now may be just the pressure release valve that many in society are looking for. 
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    Boardroom authenticity: are director actions consistent with their claims?

    The NYSE has just published the results of its 12th annual director survey. The survey, conducted by Spencer Stuart, makes for interesting reading. For example, strategy and performance features as a "perennial concern" of respondents—directors claim a strong interest in strategy. However, the responses do not bear this out. When asked to identify board actions that are critical to company performance, the top six responses from directors were:
    Directors say they know strategy and performance is important. That's clear. So why, when directors are asked specifically, do 'monitor' and 'control' activities feature more highly? Ouch! Why are some director's actions inconsistent with their claims?
    Do you notice anything unusual these responses? Apart from reviewing the strategic plan (presumably developed by management), none are practices of strategic management at all! If the board is responsible for business performance, why isn't it directly involved in the development of strategy, or monitoring strategy implementation, or verification of business performance goals? Why don't these elements, which are crucial to any influence the board might exert on business performance (watch for my forthcoming research), feature at all?
    • Regular CEO evaluation 96%
    • Strategic plan review 91%
    • Review of bench strength 83%
    • Capital use review 83%
    • M&A analysis 73%
    • Meeting on-site managers 62%
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    NACD announces "long-term value creation" commission

    The National Association of Corporate Directors (NACD) has announced the establishment of a Blue Ribbon Commission to investigate the board's role in driving long-term value creation. You can read the full announcement here.
    Twenty-six "distinguished corporate leaders and governance experts" have been appointed as commissioners. Surprisingly, no corporate governance academics have been appointed. This begs the question of how the BRC intends to go about its work, and to conduct empirical research in particular. I hope the opportunity to investigate what value creation is—and how it is created—is not lost.
    I'm in two minds about this investigation. On one hand, it confirms the profession has a serious problem: that we simply don't know how boards add value or influence performance begs the question of what directors and boards actually do. On the other hand, congratulations are due to the NACD taking the bold step of commissioning the investigation. The subject is topical (in the last six months alone, I have been party to well over 100 conversations and debates on the topic of strategy in the boardroom), to the point of being somewhat personal (the subject is at the heart of my doctoral research).
    Consequently, I intend to watch developments closely especially as the commission seems to be very similar to a study undertaken last year. If asked, I will make my research findings available to the BRC.
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    Telling the emergent #corpgov story

    About three and a half years ago, I had the privilege of listening to a leading thinker speak about some of the problems with boards, board practice and the phenomenon of corporate governance. The comments were as contentious as they were disarming: we don't know nearly as much as we would like to think we do. Further, many of the widely discussed measures (women on boards, board size, an independent chair) provide little if any guarantee of increased business performance.
    My initial reaction was to dismiss the comments. They stood apart from the prevailing opinions of many practitioners and consultants. However, there was something compelling about the the way the story was told. Something made sense, so I dug deeper. Pretty soon, I found myself on the quest that became my doctoral journey, to try to work out how boards can influence business performance in real terms.
    Jun 3–5

    Jun 11–12
    Jun 17–20
    Week 1 Sep
    Sep 8
    Sep 9
    Sep 10
    Oct 29–30
    Nov 12–13

    Nov 23–27
    International Corporate Governance Network  annual conference
    (London, England)
    International Governance Workshop (Barcelona, Spain)
    European Academy of Management conference (Warsaw, Poland)
    * available in UK and Western Europe
    Masterclass: Corporate Governance (venue tbd, Ireland)
    Masterclass: Boards and Performance (Dublin, Ireland)
    Guest lecturer: University of Ulster (Belfast, Northern Ireland)
    EIASM conference (Brussels, Belgium)
    European Conference on Management Leadership & Governance
    (Lisbon, Portugal)
    Reserved for Singapore event and meetings
    (The prospect of some meetings in Australia and the US is being discussed as well, but nothing is confirmed yet.)
    That quest continues today. However, the doctorate is nearly complete so the time to package the learnings (there have been many), tell the emergent corporate governance story and discuss implications for boards and businesses has arrived. To this end, I will be travelling internationally in June (as signalled yesterday), September and November as follows:
    If you want to know more about any of these events, or want me to meet your board or executive team, please get in touch.
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    Want to learn more about boards and corporate governance?

    Are you interested in boards, board practice and corporate governance? Do you want to learn about emergent trends and how boards can influence business performance? If so, read on...
    I will be visiting England, Spain and Poland soon to discuss corporate governance topics with directors, boards and academics. The overall trip theme is "Boards and business performance". Four speaking engagements are confirmed and several private meetings are in place.
    While the diary is filling up, there is still room for several more meetings! Please contact me if you have a question or want to set up a meeting. Here is my current schedule:
    June 2
    June 3–5

    June 8 & 9
    June 10
    June 11 & 12
    June 15
    June 16
    June 17–20
    June 20
    Arrive in London, available for meetings after 1pm, including dinner
    International Corporate Governance Network Conference 
    (click to set up meeting at conference)
    Available in London or nearby (Want to meet? Get in touch)
    Travel to Barcelona
    International Governance Workshop, Barcelona (my paper abstract)
    Limited availability in London (Want to meet? Get in touch)
    Travel to Warsaw
    European Academy of Management (my paper abstract)
    Return to New Zealand
    Thanks for your interest!