Corporate Leadership and Governance
for Increasing Stakeholder Involvement and Developing Stronger Connections
-- Colin Coulson-Thomas
Many organizations and their supply chains are networks of relationships, but greater connectivity, additional connections and more intimate relationships can involve costs and risks as well as confer benefits, while inappropriate relationships can be harmful. Aspects of company law and regulation and contemporary corporate leadership and governance codes, priorities and practices favor some stakeholders over others and can hinder rather than help the building of relationships with a wider range of stakeholders. Directors and boards need to consider what changes are needed in priorities, practices and initiatives to accommodate disruptive technologies, new business models and the sharing economy; better understand the perspectives, aspirations and requirements of stakeholders; and involve, engage and motivate them in order to achieve more balanced, relevant, cost-effective and mutually beneficial relationships with them. Consideration is also required of whether such changes and a more socially responsible approach to business might help to establish and/or rebuild trust and encourage closer collaboration and more co-creation of value.
© 2018 Colin Coulson-Thomas. All Rights Reserved.
A Qualitative Outlook on Career Regrets
of Indian IT Professionals
-- Sayoni Santra and V N Giri
Indian Information Technology (IT) industry is going through a dynamic state of existence. Ongoing geopolitical shifts, technological transformations, and emerging avenues in corporate and entrepreneurial territories have driven its professionals towards diversified career decision making. Some decisions go well, fulfilling wishes and aspirations, while others go wrong, causing unfavorable career experiences, possibly manifesting through a negative, upward counterfactual thinking of ‘things could have been done in better ways’. Undoubtedly, amidst opportunities and unpredictability of global employment market, such thinking might linger within professionals’ mental framework, influencing career attitudes and behaviors. Nevertheless, this psychological aspect is rarely addressed in literature, specifically for professionals frequently exposed to abrupt career challenges. We attempted to fill this gap by focusing on such negative counterfactuals, in terms of career regrets, that were encountered by veteran Indian IT people while navigating vocational trajectories. Four major themes were identified, viz., career choice regrets, corporate regrets, career growth regrets and regrets regarding timely career movement. Additional themes, supplementary regrets and reflections from career regrets were obtained. Supplementary regrets mentioned repentance in other important life domains due to career. Reflections revealed meaningful attributes learned from regretful experiences and considered important for sustaining career graphs in
© 2018 Sayoni Santra and V N Giri. All Rights Reserved..
Death by Complacency
-- Gary Oster
Historically successful companies often equate past fruitful methods of operation with the certainty of future accomplishment. Complacency, the self-satisfaction with the status quo that provides employees with feelings of quiet pleasure and security, can blind organization members to the unrelenting need for positive change. Because every modern enterprise functions within the dynamic global marketplace, ignoring the need for change can be fatal. Companies often exhibit the same causes for and symptoms of complacency. Organizational revisions that reduce the possibility of company-crippling complacency include the demand for corporate truthtelling, a redoubling of customer-focus, development of strategic “guardrails,” and steps to encourage routine innovation.
©Gary Oster. All Rights Reserved.
Challenge Ourselves for the Sake
of Challenging Ourselves
-- Dan Coughlin
The captain of a merchant ship has a unique leadership role based on his or her responsibility for the safety of the ship and cargoes, navigation, the security and welfare of the crew and passengers, the need to comply with the latest maritime regulations, and the objective of maximizing the shipowner’s profits. The level of accountability is high, as the captain’s discretion can override all prevalent rules and regulations to save the ship and crew, and the responsibility is 24/7. The captain must balance the interests of several stakeholders: not only the shipowner, crew and passengers, but the charterer, the shipper, the consignee, port authorities, and local and international administrative bodies. Issues faced by the captain include not only possible financial and reputational loss, but exposure to unethical practices, emergency situations like fire, explosion, foundering, injury, safety, and dealing with security threats, such as maritime piracy. Hope of rescue of ships being attacked can be far away; before help can arrive from outside, the captain has to protect the ship, crew and passengers, without arms and ammunition. The captain’s job includes preventing such external threats, but this can create dilemmas in balancing stakeholders’ interests, such as the need for constantly reducing costs.
© 2018 Dan Coughlin. All Rights Reserved.