IS OUR EXECUTIVE LEADERSHIP ADEQUATE?
When the scale of Covid-19 became clear, good boards conducted candid and comprehensive discussions about whether the incumbent CEO and other senior executives were fit to lead the organization through the unprecedented crisis. No doubt Abraham Lincoln cautioned against changing horses mid-stream, but keeping unmotivated, unstable, physically weak, or professionally unprepared people at the helm of a company at a time of profound and most likely prolonged crisis is even riskier. I know of several boards that replaced their CEOs in recent weeks after realising the power of the storm and its consequences for the business.
DOES MANAGEMENT HAVE THE RIGHT MANDATE?
A good board that has put in place capable management proceeds to make sure the latter has an adequate frame for action. One board chair explained: “We had three meetings last week to debate how we should adjust the CEO’s goals, authority, evaluation, and feedback process. We made significant changes and we agreed to revisit her mandate in a month.”
Many boards have switched to short-term targets and are reviewing them in weekly or biweekly online meetings. Most boards these days identify cash flow and employees’ health as primary targets of management attention. Many boards have reduced the CEO’s spending authority and put investment projects on hold.
ARE WE SUPPORTING MANAGEMENT EFFECTIVELY?
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Time Aortic Abdominal Aneurysm
The Aortic Abdominal Aneurysm happens when the wall of the blood vessels starts to weaken which forms an Aneurysm that is commonly known as balloon-like dilation.
The Lexus ES 250 Features A New F Sport Variant
The 2022 Lexus ES facelift has arrived in Malaysia- First unveiled at Auto Shanghai 2021 in April this year.
Heading: Try -180°C Therapeutic Treatment Called Cryotherapy To Improve Overall Health
Health has gained a significant attention in this pandemic and being at your best form is a good way to fight the current problems in every aspect of health from fitness, depression, pain management, sports injury, antiageing, weight loss and beauty.
Is It Too Late To Start Investing In Bitcoin?
The noise around Bitcoin has risen sharply in the last month after the world’s most popular cryptocurrency reached its all-time high on 9 November 2021. With all the talk of its price continuing to grow, it is easy to think that it might be too late to start investing in Bitcoin. However, it is not too late and, in fact, Bitcoin adopters are actually early. Bitcoin, and cryptocurrency in general, has received mainstream adoption and looks to be around for years to come.
Smart SBB To Boost Farmers Income
Director-General for the Ministry of Agriculture and Food Industry (MAFI), Azman Mahmood, in a special meet the media session, led the pre-launch briefing of Project Smart Sawah Berskala Besar (Smart SBB) a day before the official launch by his Minister.
Budget 2022 – Seizing The Right Moment
The recent data point suggests Malaysia will stand to benefit from the global recovery.
Power Of Role Model – How The Habits Of Parents And Kids Are Interrelated?
A new global survey, commissioned by Kaspersky, explores the role of healthy digital habits in the family, as well as the effect of parents’ behavior on children and vice versa
Better Late Than Never, But Act Now
The world should now be more aware of likely COVID-19 devastation unless urgently checked. Last week, the World Health Organization (WHO) announced an US$8 billion plan to quickly vaccinate many more people to expedite ending the pandemic.
Accelerates MSMEs Digitalisation Journey
97.2% of businesses in Malaysia are made up of Micro, Small and Medium Enterprises (MSMEs). This important business sector plays a significant role in the Malaysian economy by contributing 38.2% of Malaysia’s Gross Domestic Product (GDP). MSMEs also contributes significantly in providing job opportunities.
Leadership That Can Prevent Toxic Workplaces And High Turnover
“It is our organisation’s mission to create the largest and most productive coworking community in Malaysia & moving forward, South East Asia,”