EBOOK Why Some Firms Thrive While Others Fail - Thomas H. Stanton

EBOOK Why Some Firms Thrive While Others Fail
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Autor: Thomas H. Stanton

 Wydawnictwo: Oxford University Press
ISBN: 9780199916009
EAN: B6FA9EC0EB
Format: 0,0 x 0,0 x 0,0
Oprawa: ...
Stron: 296
Data wydania: 2012
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Governance and Management Lessons from the Crisis
Why did some firms weather the financial crisis and others not? This book builds        on the author's interviews and access to internal documents from over a dozen major        financial companies, investigates their workings, reveals what went wrong and        discovers a remedy. A critical difference between successful and unsuccessful firms        is a culture that encourages respectful challenge, what the book calls "e;constructive        dialogue"e;. At successful firms top management engaged in constructive dialogue with        the board, a strong management team, and the chief risk officer, among others, in        making a decision; firms that failed often featured overbearing (or distracted) CEOs        or unit heads, supine boards, incapable management, ineffective risk officers, and        poor communications both across silos and up the hierarchy. They often lacked        ability to manage the firm as an integrated organization.Companies need good        management, and not only good risk management, to stay out of trouble. Successful        companies operated with strong information systems and a culture of good        communications that brought issues promptly to top management so the company could        adjust its operations accordingly. Successful managers had discipline to ask simple        questions and pursue answers until they understood the risk-reward tradeoffs in        their activities.Regulators too made mistakes. They didn't feel empowered to rein in        companies that--at least before the crisis--seemed so profitable. Instead of waiting        for a company to take losses, the book recommends that they use "e;constructive        dialogue"e; as a test of good management and that supervisors require evidence that        major business decisions result from a robust process rather than merely the will of        a powerful CEO or heads of revenue-producing units. Companies in turn should use        their regulator as a potential source of useful feedback. The book concludes by        looking at major firms in other industries and finds that its conclusions apply to        these companies too.

Książka "EBOOK Why Some Firms Thrive While Others Fail"
Thomas H. Stanton