Wednesday, 23 March, 2011 Leave a comment
I make no apologies for promoting the thoughts and text of someone, whose thinking (on a wide range of financial matters) I have come to respect enormously. Nick’s article (below) reminded me that, if all we do is look address what we observe – treating symptoms – we can expend too much time, effort and money applying patches or plasters (in the form of legislation, regulation, processes) without actually EVER identifying and tackling cause(s). Add a time horizon of years or even decades and the ability of a system to perform the task(s) for which it was originally intended…
– why “users” and frontline services suffer in the face of budget cuts whilst layers of management indulge in self-preservation?
Is this why Corporate rewards that are results-driven rather than strategy-led have increased moral hazard?
Why Financial Regulation failed and is “too complex” to pursue those responsible – but not, apparently, accountable – for destroying the global economy? Read more of this post