Alan L. Jones and Clive H. Thompson
The purpose of this paper is to seek comment on a proposed new model for measuring and monitoring the sustainability of corporate governance.
Abstract
Purpose
The purpose of this paper is to seek comment on a proposed new model for measuring and monitoring the sustainability of corporate governance.
Design/methodology/approach
The unprecedented combination of the scarcity of finance, low growth, and environmental pressures, together with new attitudes to employment, makes an extremely challenging environment that demands a more comprehensive concept of sustainability. It is redefined here to encompass the management of all resources, whether they be natural, human, environmental financial or social, and “Sustainable Governance©” is a framework that creates and monitors a structure that husbands the way that all resources are managed for today and for a long term sustainable future. To meet the challenge of the changing world, a 12‐point management model is proposed, together with a comprehensive rating system employed to analyse progress and benchmark competitive performance.
Findings
Corporate governance cannot be left to chance in the business climate of the twenty‐first century. Public trust has been lost and boards will need to be seen to be in control not only of the present but also of the future. All resources will have to be treated as finite and accountability will be a byword in all corporations. To be sustainable, corporate governance must cover all aspects of corporate resources and activities and it must also be measured in a more formal and transparent manner. This article outlines a model that could be used for this purpose. It is taking measurement beyond the simplistic “scorecard” approach favoured in the past. It is a seed from which the authors expect to see a fertile growth and all comments are welcome to further the model and the process.
Practical implications
The choice facing organizations in the twenty‐first century is either to react to each set of pressures that come along as they arise, or to take a hard look at the economic, environmental and social context in which they operate, and create a framework that will give them the ability to manage in a long‐term sustainable structure.
Originality/value
This supersedes the scorecard approach for monitoring corporate governance. It is new and untried but the authors seek input and comments from readers.
Details
Keywords
Current issues of Publishers' Weekly are reporting serious shortages of paper, binders board, cloth, and other essential book manufacturing materials. Let us assure you these…
Abstract
Current issues of Publishers' Weekly are reporting serious shortages of paper, binders board, cloth, and other essential book manufacturing materials. Let us assure you these shortages are very real and quite severe.
Communications regarding this column should be addressed to Mrs. Cheney, Peabody Library School, Nashville, Tenn. 37203. Mrs. Cheney does not sell the books listed here. They are…
Abstract
Communications regarding this column should be addressed to Mrs. Cheney, Peabody Library School, Nashville, Tenn. 37203. Mrs. Cheney does not sell the books listed here. They are available through normal trade sources. Mrs. Cheney, being a member of the editorial board of Pierian Press, will not review Pierian Press reference books in this column. Descriptions of Pierian Press reference books will be included elsewhere in this publication.
The Howard Shuttering Contractors case throws considerable light on the importance which the tribunals attach to warnings before dismissing an employee. In this case the tribunal…
Abstract
The Howard Shuttering Contractors case throws considerable light on the importance which the tribunals attach to warnings before dismissing an employee. In this case the tribunal took great pains to interpret the intention of the parties to the different site agreements, and it came to the conclusion that the agreed procedure was not followed. One other matter, which must be particularly noted by employers, is that where a final warning is required, this final warning must be “a warning”, and not the actual dismissal. So that where, for example, three warnings are to be given, the third must be a “warning”. It is after the employee has misconducted himself thereafter that the employer may dismiss.
Other administrators of distinction have edited professional journals ably over several years. None has served under four companies over a decade as did the former City Librarian…
Abstract
Other administrators of distinction have edited professional journals ably over several years. None has served under four companies over a decade as did the former City Librarian of Westminster. The bright covers, broad interests and fresh writing of Harrison's LW did much to extend the professional dialogue in the years of Roberts, Parry and Dainton. Here Harrison discusses the typical difficulties and the satisfaction of the professional gatekeeper.
This chapter examines and discusses the unintended outcomes of the production bonus scheme the mine had instituted to motivate and increase the productivity of the frontline…
Abstract
This chapter examines and discusses the unintended outcomes of the production bonus scheme the mine had instituted to motivate and increase the productivity of the frontline mining teams. This is crucial given that the maladministration of the bonus system could lead to a range of undesired outcomes such as deteriorating levels of trust between management and frontline workers, prioritisation of production at the expense of safety, poor work relations and ultimately low levels of organisational, employee and team performance. There are a number of organisational, management and labour factors that can render a production bonus scheme effective or ineffective. These factors influence the nature and extent of worker reactions to the bonus scheme.
This chapter examines and discusses the factors that influenced the reaction of the mining teams to the team-based production bonus scheme and the extent to which mine management fulfilled its side of the bargain in the implementation of the production bonus. The chapter highlights the manner in which the team-based bonus system influenced teams of stope workers to engage in their informal organisational practice of making plan (planisa) in order to offset the snags that jeopardised their prospects of earning the production bonus. The chapter reveals that, to a large extent, the productivity bonus generated conflict rather than cooperation at the point of production down the mine. As a result, the incentive scheme failed to live up to expectations by not eliciting the desired levels of organisational, worker and team performance at the rock-face.
Details
Keywords
The important series of mechanical charging systems known generally as Indicators, have never been fully described, either from the historical or structural standpoint. Papers…
Abstract
The important series of mechanical charging systems known generally as Indicators, have never been fully described, either from the historical or structural standpoint. Papers describing one or other of the individual varieties have been published from time to time during the period of thirty‐six years they have been in use, but except the partial notices of a select few published by Mr. F. J. Burgoyne and myself, nothing of a comprehensive or accurate nature has ever appeared. Before proceeding to describe each separate invention in its order, it may be well to enquire briefly into the reasons for the origin of a device which has called forth not a little ingenuity and inventive talent. When libraries were first established under the provisions of the various Acts of Parliament, two things happened as a matter of course in every district: a building, suitable or otherwise, was provided; and, the readers in a town increased in number to an enormous and unprecedented extent. Straitened means generally led to the provision of a cramped and inconvenient building, in which the space set apart for books was often ridiculously inadequate; with the result that lofty shelves were the rule, which secured economy of storage at the expense of rapidity of service. Previous experience in mechanics' institutes, or similar libraries, was found by the new librarian a useless criterion for public library needs, and especially as a guide to the multitude of readers and the variety of their demands. Delays in service occurred continually and the poor librarian was often abashed or offended at the freely expressed scepticism with which the public received his reports of books being out. From these factors was evolved the idea of the indicator, which by and by took practical shape as a machine for saving the legs of the librarian and his assistants from frequent and fruitless climbs to high shelves, and enabling readers to satisfy themselves that books were actually in use. The original indicators were intended only for showing, by means of numbers, the novels which were out or in, but since then a considerable number of libraries have applied them to all classes.
Not many weeks back, according to newspaper reports, three members of the library staff of the School of Slavonic and East European Studies in London were dismissed. All had…
Abstract
Not many weeks back, according to newspaper reports, three members of the library staff of the School of Slavonic and East European Studies in London were dismissed. All had refused to carry out issue desk duty. All, according to the newspaper account, were members of ASTMS. None, according to the Library Association yearbook, was a member of the appropriate professional organisation for librarians in Great Britain.
Sydney Finkelstein, Jo Whitehead and Andrew Campbell
The purpose of this paper is to study the role of misleading experiences, and how decision‐makers' experience can sometimes lead them to think they are right when they are really…
Abstract
Purpose
The purpose of this paper is to study the role of misleading experiences, and how decision‐makers' experience can sometimes lead them to think they are right when they are really wrong.
Design/methodology/approach
Literature was reviewed in neuroscience, cognitive psychology and decision theory on how people make decisions and what decision‐making biases influence thinking. A total of 83 strategic decisions were studied to understand what potential biases existed and how those biases affected the quality of decision making.
Findings
Decision making is more often an emotional than rational process, in large part because of how our brains are wired. This process works most of the time, but not always. As a result, it is critical to identify those red flag conditions where our decisions are most vulnerable to error, with misleading experiences being one of the most central of these red flags. The paper discusses how to identify whether misleading experiences are potentially dangerous.
Research limitations/implications
While the paper relies on multiple literatures and the authors' own original empirical work, a topic as complex as how our brains make decisions clearly cannot lead to definitive conclusions. Future research might investigate more of the contingency situations where misleading experiences might be dangerous.
Originality/value
This study is the first that highlights how central misleading experiences can be to mistaken decision making. It is based on significant original research, and has implications that are clearly practical for business leaders.