Challenges in Implementing Corporate Governance: Whose Business is it Anyway?

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John Wiley & Sons, Nov 8, 2011 - Business & Economics - 256 pages
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"John Zinkin's new book on Challenges in Implementing Corporate Governance is a welcome addition for board members and senior management on how to improve corporate governance in the post-crisis period. John correctly identifies that most boards on underperforming companies have three elements of failure: a lack of proper understanding of the business and its strategy; a total lack of appreciation of both the strategic and systemic risks created by new product markets; and a total failure by boards to ensure that the incentive structures for top management reflect long-term needs rather than short-term profits, thereby putting the company's future at risk. John has written a useful and practical handbook that is a must read for all board members on how to improve corporate governance."
—Datuk Seri Panglima Andrew Sheng, Chief Adviser, China Banking Regulatory Commission and the Boards of the Qatar Financial Centre Regulatory Authority , Sime Darby Berhad and Khazanah Nasional

"This timely book will interest those wanting to improve corporate governance and risk management. It should also appeal to anyone curious about what caused banks to fail in a number of markets in recent times, and the values which led to this failure. In considering principles which are essential to good governance, ACCA recognizes that corporate governance evolves and improves over time. We accept that organizations in different sectors and across the world operate in diverse environments in terms of culture, regulation, legislation and enforcement. What is appropriate, in terms of governance, for one type of organization will not be appropriate to all organizations. John Zinkin’s book seeks to address this challenge, analyzing the essential cultural and behavioral issues which sit at the heart of the challenges."
—Paul Moxey, Head of Risk Management and Corporate Governance,  Association of Chartered Certified Accountants

"A scholarly combination of practical guidelines and strategic vision."
—Lady Sylvia Jay CBE, Vice-Chairman, L'Oreal UK; Independent Director, Alcatel-Lucent, Compagnie de Saint Gobain, Lazard Limited and Carrefour

"This is a highly topical and timely publication. Globally, the crisis that has gripped the financial services sector following the failure of well known global banks in recent years has focused attention on corporate governance. To restore confidence in the financial services sector is a long-term goal and effective corporate governance, together with the closely associated topic of risk management, has gripped not only governments and banks, but the public too. In this book, John Zinkin clearly asserts that financial institutions need to exert their responsibilities beyond their shareholders and far more into the wider group of stakeholders, including employees and wider society. In considering issues globally, John provides a book that is not only thought-provoking but pragmatic and useful at a time when stakeholders in our banks need to see real change in transparent, practical ways from those charged with governing our banks."
—Ruth Martin, Managing Director,  The Chartered Institute of Securities and Investment

 

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Contents

Do Western Codes of Corporate Governance
1
What is the Business of Business?
21
The Role of the Board
41
The Role of Board Members
59
Why Boards Fail and How to Avoid Failure
81
From Good Governance to Good Results
111
Managing Risk
139
What We Measure and Reward
169
Saving Capitalism from the Capitalists
187
Appendices
209
Index
237
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About the author (2011)

John Zinkin has 39 years of working experience, of which 24 have been in Asia. His experience as a consultant for McKinsey and as Chairman of Burson-Marsteller's change management practice in Asia; as Associate Professor of Strategy and Marketing at Nottingham University Business School, Malaysia Campus; as Executive Coach of Foresight's Global Coaching Partnership; and as Deputy Chairman of the Institute of Corporate Responsibility Malaysia—gives him a unique insight into the issues of implementing good governance in an Asian context. As the CEO of the Securities Industry Development Corporation (SIDC), the training and development arm of the Securities Commission Malaysia, he is engaged in running regular workshops for senior directors of Malaysian public-listed companies on implementing good corporate governance.

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