Contribution from Subject Matter Experts (SME), General Information - Miscellaneous, Leadership

It’s Wells Fargo Again: A Pattern of filing false documents

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This is how Warren Buffett spelt out that trouble is not over at Wells Fargo, and that the cleanup operation has still far to go. This is related to the finding of another 1.4 million unwanted accounts opened under the name of unaware clients, as reported in yesterday’s New York Times (see note 1 for link). In my articles published on June 15th 2017 and October 26th 2016 (see links in note 2) I expressed that the Board had not understood the situation it is in if it went ahead to appoint Timothy J. Sloan, a 30-year Wells Fargo veteran and member of the senior management team when the original scandal erupted, as new CEO after the ousting of Jon Stumpf. I predicted that bad news would keep on coming and supported this statement on the obvious fact that a sick corporate culture cannot be cured from within. Facts are…

Contribution from Subject Matter Experts (SME), Leadership

Corporate Governance: The need for critical thinking on Boards

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I highly recommend reading a story titled ‘It is time to reform the make-up of corporate boards’ run by the Financial Times on January 3rd 2018. Over and above the structural changes that need to be made, it states the need for Board members to change their stance from one of justification of the status quo to one of hard-questioning how business is done. This is the criticial thinking that CEO Mentoring has been claiming of BoD for a long time.

Contribution from Subject Matter Experts (SME), Human Capital, Leadership

3 Places You Wouldn’t Think You’d Find a Mentor

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This article brings to the fore the huge complexities of managing a modern career. The massive amount of information, the speed imposed by technology, the need to get things done through others over whom we have little power, the push for innovation, the imperative to collaborate and set up partnerships,…exceed the bandwidth of any human mind…our traditional heuristics have become obsolete. We need help and Jud Linville (CEO of Citi Cards) is concluding that mentors can be the answer. But how do you find the right mentor? READ THE FULL ARTICLE in Fortune Insiders. CEO Mentoring does not only find the right suitable mentor but will also have available Subject Matter Experts (SME) to ensure the Mentor and the Client have the right expertise on board at any one time.   CLICK – Access your free mentoring session!

Contribution from Subject Matter Experts (SME), Leadership

Mentoring: Critical thinking is the antidote for stagnation

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In his article How Aristotle created the computer: The philosophers he influenced set the stage for the technological revolution that remade our world, Chris Dixon (note 1) gives us a notable tracing of present day computing back through the history of thought to the classic Greek philosophers. In this voyage back in time Claude Shannon and Alan Tuning played pivotal roles in the final stage of developing computers as we know them today. On the one hand Shannon’s main contributions were to separate the logic and the physical layers of computing, and then having mapped Boolean arithmetical logic units onto electric circuits. On the other Tuning, in his attempt to solve the decision problem (Is there an algorithm that could determine whether an arbitrary mathematical statement is true or false?) showed us how to design computers in the language of mathematical logic. Both Shannon and Tuning constructed their work on…

Contribution from Subject Matter Experts (SME), Minimising Risk

Chipping away at your confidence: Do chips really make payment cards safer?

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Like most of us you probably thought chip cards would reduce payment card fraud. Wrong. In today’s Lafferty News there is an analysis that references an article in Fortune (That Chip on Your Credit Card Isn’t Stopping Fraud After All) that concludes that the effect of chips in your plastic has been a switch from in-store to on-line fraud, but that the overall volume has actually increased. Different forms of identity theft such as account takeovers or new accounts being opened in the consumers’ name without their knowledge has risen dramatically. So here are a couple of questions: What can the payments industry do to reduce this problem? Who is ultimately responsible for taking control of this issue? While you send me responses to those two questions, I will address the one in the heading. In the old paradigm of in-store shopping and payment they are, indeed, safer. But in…

Contribution from Subject Matter Experts (SME)

Collaborative Robotics and Cognitive Computing: A call to Action for the Professions.

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It is not the end of work, yet. As I have been writing in this space for quite some time, the much-needed growth in total factor productivity will require humans working closely with technology. We will see this transformation happen at the micro level – every occupation has activities that can and should be taken over by machines. What is different about this technology wave, led by cognitive computing, is that the potential is higher in the more senior knowledge occupations than in the lower manual ones. It is in the professions where the potential gains are greatest. A recent McKinsey Institute research  attempts to put some figures to this trend. It claims that only 5 percent of jobs would be completely displaced by machines, but that nearly half of the individual activities in all present-day occupations could be replaced by adapting currently proven technologies. And that the potential gains…

Contribution from Subject Matter Experts (SME)

Demise of Banca Monte dei Paschi di Siena confirms the start of a new era.

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December 23rd was an eventful day for observers of the global banking system. On the last real working day of the year for many, reality caught up with events and it was admitted that the private sector capitalization or bail-in of the Banca Monte dei Paschi di Siena has failed. The € 5b required to capitalise and save the bank did not materialise. The bank will now be nationalised, which demarks the end of 544 years of service for the oldest bank in the world. But this is not quite the end of the story – the Italian government will find it very hard to produce the US$ 54b it needs to close the collective hole in Italian banks’ balance sheets. It is paradoxical that while the Monte dei Paschi private rescue package did not happen, on the other side of the pond the US authorities agreed to settle with…

Leadership

Trusting Management …

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Much has been written about the loss of trust in management. These discussion almost always deal with the loss of ‘trust from below’ – i.e. trust by employees or subordinates of senior management. What they don’t deal with is the loss of ‘trust from above’ – i.e. the loss of trust by the board and shareholders in management. Causes for this include management: Setting expectations and failing to deliver. Saying things that are later demonstrated to be false. Withholding part of the ‘truth’. Only putting one side of the argument for an initiative proposed by management. Pursing initiatives that only management will personally benefit from (i.e. establishing KPIs when those KPIs are the basis of management’s remuneration.) Pursing personal gain ahead of corporate gain. Sabotaging initiatives that benefit shareholders ahead of management (e.g. golden parachutes, etc.). Promoting colleagues beyond their competency. Allowing risks and problems to remain unresolved beyond necessity….