John Browne: Connect AUTHOR John Browne

Online ebook Connect AUTHOR John Browne by John Browne –

Es and the company s actual behaviour Rethink organization design It is only possible to integrate society s needs by changing the oles and esponsibilities of teams and individuals This starts with the edefinition of the CEO s ole and must cascade down throughout the company Contest correct misperceptions and push back against unfair or illogical egulations which threaten to harm citizens as well as business Successful companies are not afraid to challenge the logic of established thinking among egulators if they think they can win the argument What we should want is balance When the egulator is in the pocket of the egulated society almost always loses out In the long un industry suffers too even if it gains a significant advantage in the short or medium term Regulatory capture eventually causes scandals and accidents that esult in draconian government interventions eg after Japanese nuclear operators exploited the system they found all plants were taken offline after Fukushima until they could be proven safe Ignore government and it s influence will inevitably catch you off guard commandeer it and you isk a backlash from society further down the line Government has unbounded power to create and destroy value in the pursuit of eal or perceived natural interest eg Walmart felt it was being targeted unfairly about its treatment of employees and used academic studies to establish a fact base Concede and lead Admit when the industry has got things wrong and lead the way in finding solutions Reuires taking esponsibility for negative impacts eg Walmart accepts its negative environmental impact and pushes managers to make the company a leader in eco efficiency Collaborateengage adially meet important stakeholders egularly industry government and civil society and making friends before they are needed communicating to outsiders in clear language without esorting to propaganda Connected leadership Companies must integrate societal concerns deeply into commercial strategy and operations at every level Company success depends on its elationships with the external world not just customers and investors but also employees egulators politicians activists NGOs the environment and technology CSRCSR has failed to bridge the divide between companies and society due to its isolation from the core commercial activity of a company and treatment of eputation as an artificial construct Executives view it as a distracting cost centre while NGOs criticize what they see as propaganda At best CSR initatives distract attention from the vast societal contributions made by day to day business At worst they epresent a doomed endeavour to get away with irresponsible behaviour elsewhere CSR has proven to be irrelevant to a company s eputation in the event of corporate scandals it is not the answer for companies who struggle to articulate the broader social value of their core business Four main CSR flaws CSR ambitions are arely ealized because they lack the active participation of the big spending commercial functions such as production and marketing Centralized CSR teams tend to take too narrow a view of the elevant stakeholders Managers on the ground have a much better understanding of the local context who eally matters and what can be delivered CSR focuses too closely on limiting the downside Companies often see it only as protecting their eputations perhaps to get away with irresponsible behaviour elsewhere CSR programmes tend to be short lived. EO Lloyd Blankfein to Tony Blair and Tim Berners Lee inventor of the World Wide WebConnect shows how companies and executives can enhance their performance by engaging adically with the world around them.

Ll misinterpret Did give me the boost to ensure my job is core business at kilroy My takeWorking in natural esources I found this book very valuable eading though am somewhat less sanguine about its conclusion that a adical transformation in public trust is so eadily on offer My view is that people are inherently lazy and find changing their views inconvenient Categorically casting big business as shady saves a lot of mental spadework of figuring out who are the good and bad actors Even investors with stake in big business often seem inclined to call it a necessary evil without any substantiation willingly calling themselves complicit in the dubious enterprise that s popular to hate So while I agree with the isks and prescriptions found in this book I don t think that any corporate social connecting however genuine deep and adical will culturally cleanse business of its Shylock ness in the public imagination Maybe though there could be an enough impact at the margins to bolster enough good will for one company to weather some storms of public disdain where others might sink and in business I guess that s enoughIf nothing else this book gives a thorough accounting of the fact that at some point most CEOs begin to care about the moral stature of their legacies than they do the profits anyways so following these prescriptions seems a sure enough way for those big fish to get themselves on the ight side of history if only in their self interestWhat s the book aboutPeople in business tend to adopt a patronizing attitude to those who complain about corporate behaviour Critics they believe do not understand how things work in the eal World Society on the other hand has lost sight of the good that business does Governments are caught somewhere between the twoThis book written by former BP CEO aims to find a way for business to escape the historical trappings of society s distrust towards it by better contributing to society The book was written with the insights of McKinsey esearchers who looked at the long un esults of integrating social concerns into core business strategy and the isks companies un by not doing so It is part history of corporate social esponsibility meditation on business strategy the failures of standard CSR and evidence driven manifesto for where companies should go in the future The conclusion The bottom line Focusing on authenticity and integrating societal concerns deeply into commercial strategy has the capacity to dislodge the historical distrust society has held business in improve companies bottom line and ability to survive public elations crises in the long un value at stake from plausible government interventions epresent 13 of corporate profits The top line Connecting effectively can set companies apart through developing new evenue streams and educed egulatory isk to eputational enhancement market access and lower esource costs The shares of companies which connect effectively outperform those of their competitors by than 2 percent every year Strategies to note Map the world Analyze stakeholders as precisely as customers understanding trends and discontinuities and uantifying the value at stake from external elationships Identify value at stake Translating societal issues and interventions into monetary estimates imbues connected leadership with the necessary igour Track your context That includes the macroeconomic environment attitudes towards industry expectations of stakeholders and employe. A practical manifesto for econciliation This timely and important book features candid interviews with global leaders at the heart of this debate from Facebook’s Sheryl Sandberg and Goldman Sachs’

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Interesting book depicting four tenets of leadership Recommended If I could give this book a negative ating I would The sheer hypocritical audacity of this guy is breathtaking He starts in the opening saying how sad he was about the loss of life as a esult of the Deepwater Horizon oil spill What he neglects to say is that his own policies when he was the CEO of BP caused the extent of the damage in the gulf If you want to know the true Lord Browne ead Greg Palast s Vulture s Picnic Browne is one of the biggest vultures of all This book is Browne s attempt to whitewash his involvement Connect with the people Wow Hypocrisy beyond belief Connect and engage with society this is the allying call to businesses by this impactful little bookWritten by the former chief executive officer of BP and two top McKinsey executives the book takes a hard look at how big businesses connect or accurately often fail to connect with society at large Built around many candid interviews with top global leaders and mixed with the authors own experiences the esultant book is a fairly informal powerful and engaging ead dispensing advice over how companies and executives can enhance their performance by engaging adically with the world around themThe authors point out that this engagement is than philanthropy or corporate social esponsibility CSR and the potential value for getting it ight can be high they estimate that it can be contribute a boost of up to 30 per cent of corporate earnings and the shares of companies which connect effectively outperform those of their competitors by than 2 per cent every year That is a fair amount of money for effectively being a better connected corporate citizenIt was good to see how historical eferences can be weaved into current day activities and even future projections given all at the same timeThe authors are not afraid of throwing cold water over many popular themes in modern day business life such as CSR of which they are uite scathing CSR was an admirable attempt to improve companies elationship with society and to broaden the scope of their duties It told companies as well as investors to consider the well being of employees communities governments and other groups But CSR has failed both companies and society because the initiatives are almost always detached from the core commercial activities At best they distract attention from the vast societal contribution made by the day to day business At worst they epresent a doomed endeavour to get away with irresponsible behaviour elsewhere Business leaders have been voicing these concerns for some time but while CSR has been declared dead intellectually it emains the model by which most companies deal with society In other words people still talk warmly about the Emperor s New Clothes just in caseThis was a great book and a eview can only scratch the surface It is humble informative open embracing and very ish Even if you are not a top business leader with the power to change the course of your majestic ship it can still be a very good ead that may help you along in the future This book was tough in that though I think many of his ideas are laudable the author uses business doublespeak in trying to convince me that an oil company can ever truly care about the environment and it s painful when he basically suggests that for example wal mart should just give up beyond compliance with the law on labor issues I m oversimplifying but I worry that CEOs eading this wi. Drawing on the professional experience of John Browne former CEO of BP and the insight of two McKinsey experts Connect articulates and explores the ecurring ift between big business and society offering.