They have a saying in the insurance industry: “A lucky underwriter beats a good underwriter any day of the week”. Well, we have it confirmed once again that Australia is the Lucky Country. This time the evidence is provided by APRA in their submission to the Financial System Enquiry on 31 March 2014. In the
Last November in my Risk e-Views newsletter I wrote about a book entitled Administrative Behaviour by Herbert A. Simon. In a nutshell, Simon describes the basis of an organisation as: • A well-defined purpose communicated to staff and other stakeholders. • A series of decisions that affect actions. • Policies, processes and systems to influence
I have long agreed with those in the investment community that argue analysts drive short-term thinking by managers of many publicly listed companies, which in the end destroys value. While reading this article by McKinsey entitled “Building the healthy corporation” I realised that many organisations are now fighting back. McKinsey report that a number of firms
An MIT Sloan Management & Capgemini research study prompted this edition of Food for Thought. The key theme – business leaders are lacking urgency when it comes to pursuing opportunities being afforded by technology. This quote from the article sums it up best: “There are two wrong ways to approach (digital transformation),” MIT’s George Westerman told
Silos allow management and teams to focus, however, they also create barriers to collaboration and the flow of much needed information. In this interview by McKinsey with Paolo Cederle, CEO of Milan-based UniCredit Business Integrated Solutions, Paolo outlines the business model UniCredit designed to move away from siloed thinking and provides some key insights into