Corporate Eye

Ed Konczal

Ed Konczal has an MBA from New York University's Stern School of Business (with distinction). He has spent the last 10 years as an executive consultant focusing on human resources, leadership, market research, and business planning. Ed has over 10 years of top-level experience from AT&T in the areas of new ventures and business planning. He is co-author of the book "Simple Stories for Leadership Insight," published by University Press of America.

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What isINNOVGOVR

Previous posts explained the growing importance of innovation governance and that it is not getting enough attention by Boards and C-Suite executives. Now let’s take a closer look at just what it is.

I think a good start is perhaps the world expert on the subject, Emeritus Professor Jean-Philippe Deschamps at the IMD Business School. He states:

Innovation governance provides a frame that defines the mission, focus and implementation of innovation in the company. It

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hare-tortoise

Innovation is one of the top issues for Boards and senior managers.

Three recent surveys indicate:

Survey

Finding

IBM’s 2010 Global Survey of CEOs (IBM, 2010) CEOs cited creativity as the most important leadership quality over the next five years.
Ernst & Young, 2010, Connecting innovation to profit They [top entrepreneurs] understand that innovation is the primary force that can catapult a company to market leadership and keep it ahead of its rivals. They know
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innovation-governance


At first glance corporate governance and innovation seem to have no relationship.

Corporate governance is, or perhaps should be, a rigidly defined set of principles and practices that are well codified. Innovation, on the other hand is not well defined, being somewhat free wheeling and creative.

Organizations are facing unprecedented rapid change and an ever increasing demand for faster decision-making. They must adapt to changes both inside—such as multi-generational employees and changing organizational arrangements—and outside … Read the rest


welcome-open

My last post reviewed the major stakeholder groups who have an interest in good corporate governance. The focus of this post is that corporate governance starts with the Board of Directors.

Simply put, the Board reports to the company’s owners (stockholders) and its essential responsibilities include the duty to: Read more

  • Provide the “tone at the top” on values and the corporate culture
  • Establish corporate strategy
  • Hire and compensate the senior staff, the C-Suite
  • Satisfy stockholder financial
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Stakeholders

Corporate Governance is in the news–again. Despite recent laws such as Dodd-Frank in the US, Corporate Governance continues to be a problem. Recent events such as the bankruptcy of MF Global, the $5.8 billion trading loss at JP Morgan and the trial of Rajat Gupta all indicate that good Corporate Governance is still wanting. An article  in The European Financial Review states–

The systemic failure of corporate governance is particularly associated with the Anglo-American corporate

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