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We often read about senior executives and holder of public positions being fired or forced to resign for sexual harassment or misconduct. One incident specifically caught my interest when a CEO of a large public corporation resigned  over an affair with an employee. While the relationship was consensual, the company’s board stated this violated company policies and demonstrated poor judgment. They opted to terminate without cause. While the CEO received severance and pro-rated bonuses, the romance cost him/her the job and the annual salary of several million dollars. The CEO didn’t lose the job for poor performance. He/she had delivered solid financial numbers and was credited with many innovative non-financial achievements. Few people will feel sorry for an executive who receives a handsome severance, a pro-rated bonus and gets to keep the stock options. Still, it is sad to see capable and experienced executives make such egregious errors to the point where they must leave.

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Corporations use acquisitions to accelerate their growth and/or gain new resources and assets: Knocking  off an upcoming threatening competitor, increasing market share, reducing financial risk and diversifying their product or service offering. Going "solo" through organic growth is best, but acquisitions help accelerate growth.

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7 key ingredients often forgotten

Every entrepreneur aims to grow their business. With more customers and more sales, profitability should also increase. But that is not always the case, and many entrepreneurs find the hard way that more sales do not automatically translate into a bigger bottom line. Healthy growth is great. Hopeful growth is dangerous.   

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The 5 W’s of professional journalism

I learned early in my first career as a Business Reporter the five W’s for asking questions .. when, what, where, who, and why. An additional “H” for how complements the W’s ... and are the fundamentals for honest and professional journalism. The 5 W’s are used for  gathering information, conducting research, and digging out the facts. The “how” helps interpret the event/story. “How this happened or why this happened” represents the opinion of the author, journalist, or reporter.

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Seven critical questions 

Entrepreneurs start, organize, operate, and assume the financial risks of starting a new business. They are innovators who identify opportunities, generate solutions, and drive economic growth by launching products and services. Some entrepreneurs are satisfied with the early success and chose to focus on a steady business while others aim to grow the business.

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Part 3 ... Stuck in the weeds ...

In part 1 and 2 of this series of articles on the “invisible hand theory” of Adam Smith, I covered in part 1, the immense contribution of SME’s to Canada’s economy, and in part 2, the urgent need of government and private business to work together. In part 3, I am covering the need for strategic planning and a united team under strong leadership.

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Part 2 - Private vs Public

In part 1 of this article on the “invisible hand theory” of Adam Smith, I covered the incredible contribution of SME’s (Small and Medium-sized Enterprise) to the Canadian economy and the urgent need of Canada to help Canadians work, invest, build, innovate, and export.

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Part 1... SME’s contribution

The “invisible hand” is a metaphor inspired by the Scottish economist Adam Smith that describes the incentives which free markets create when entrepreneurs and business owners unintentionally act in the public interest, even when this was not their intention. This happens when entrepreneurs coordinate economic activity and allocate resources efficiently.

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During December’s Christmas, Hanukkah and “New Year” celebrations, it is customary to exchange gifts, send good wishes, visit with family and friends and in the business world host an annual dinner for employees and associates. It is not surprising that over the years, Christmas and Hanukkah celebrations have been transformed into secular holidays centered on consumerism. What is surprising to me is diluting the core message of Christmas and Hanukkah to end-up losing the fundamental reason for the celebration!

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People decisions regarding leadership are never easy ones. When results are lacking and you are disappointed with a leader performance, do you apply the phrase “ three chances and you’re out ”? Difficult leadership decisions apply to sport teams, businesses, non-profit organizations, and countries. “Doing the same thing and thinking or expecting to get a different result,” called the insanity quote, frequently misattributed to Albert Einstein,  has become a popular way to describe a flawed or illogical approach. Change is needed OK ... but where do you start? Change the leader or the team? Or both?

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