When ethical behaviour sits comfortably alongside financial performance
— Governance Matters (@GovernanceMatt) April 29, 2016
ESG may sound like just another TLA (that’s three letter acronym) but it’s one that’s making quite a noise on the corporate governance landscape. And it’s poised to get a whole lot louder in the months ahead.
So listen up…
ESG, of course, stands for environment, social and governance…and the good news is it is requiring boards – particularly those in trustee positions – to shift their thinking from bottom line to triple bottom line.
People – the staff of life in any organisation’s success
It was just the other day that I picked up a newspaper with a wild and angry headline and equally indignant introduction about livid staff at one of the nation’s biggest public hospitals calling for crisis talks with the Health Director-General to voice their serious concerns about the activities of their board.
It was certainly unhealthy stuff and a stark reminder that boards need to be as concerned with staff attitudes and values as they are with financial and other indicators of success.
You Can’t Manage What You Don’t Measure
You’ll recall in our last blog we discussed strategic plans and ended by looking at a simple table that had just three headings – strategic goals, objectives and measures. We touched on the first two and concluded by saying the third was so important that it warranted a dedicated blog.
Well, here it is…and we’re talking measures.
There’s an old adage in business that you can’t manage what you don’t measure; that unless you’re able to measure something, you’re flying in the dark, not knowing where you’re going, whether you’re getting better or worse.