Learn first-hand about how corporate governance can ensure that high ethical standards are met to restore trust – Video
”For Harvard Business Review to advise companies to stop paying executives based on performance is like your local church telling parishioners to stop dropping money in the collection basket. Yet there it is, in an article published on the magazine’s website Feb. 23: “Performance-based pay can actually have dangerous outcomes for companies that implement it.”
Lest there be any mistake, the article goes on to say, “We argue in favor of abolishing pay-for-performance for top managers altogether. We propose that, instead, most firms should pay their top executives a fixed salary.”
Japanese Prime Minister Shinzo Abe has vowed to put corporate governance at the heart of his economic reforms.
Nicholas Pratt interviews the OECD’s Fianna Jurdant and charts the development of corporate governance across Asia amid a growing recognition of its importance.
”Japanese firms invest in research and development (R&D) on a level comparable to that of their U.S. counterparts. They possess a high-quality workforce and receive decent management practice scores for organizational and human resource (HR) management. Yet, they fall significantly behind U.S. firms when it comes to earning power.
”Upwards and onwards … how can we make 21st century governance more more accountable, inclusive and efficient?”
A UK perspective – Managing the Boardroom (Audio) – ”After recent corporate scandals like VW’s emissions’ cheating, Tesco’s accounting irregularities, Barclays interest-rate rigging, many asked why company board members failed to act.
”Beginning in the 1990s, a silent revolution began to transform how business dealt with environmental, social, and governance (ESG) issues.
“The authors of Connect: How Companies Succeed by Engaging Radically with Society explain why organizations must look beyond corporate-social-responsibility initiatives to truly engage with consumers and communities.
Antibusiness sentiment is nothing new. Yet mending the rift between big business and society isn’t merely a worthy goal—it may represent a new frontier of competitive advantage, profitability, and longevity for today’s organizations. In Connect: How companies succeed by engaging radically with society (PublicAffairs, March 2016), L1 Energy chairman and former BP chief executive officer John Browne, McKinsey’s Robin Nuttall, and entrepreneur Tommy Stadlen offer a practical blueprint for reconciling companies and communities.
Now at 127 million, Japan’s population is forecast to fall to about 83 million by 2100
”Japan’s population has fallen by nearly 1 million in the past five years, in the first decline since the census began in 1920. This is bad news for the country’sshrinking economy, which is unable to depend on an expanding labour force to drive growth.
”Scandal-muddied Toshiba Corporation recently announced it was terminating its long-time relationship with Ernst & Young ShinNihon, its rubber-stamping auditor, and will hire PricewatherhouseCoopers Arata to replace it.