Whose culture is it anyway?
‘In practice it may be found that controls may make it harder for people to innovate, take personal responsibility or exercise common sense. The need for accountability might help qualities such as trust but it could also harm them. Boards must also ensure a suitable balance is struck between the desire for profit and the desire to avoid risk. In competitive sectors success depends on innovation but innovation is not possible without risk.’
The changing face of activism
‘In preparation for future campaigns, many activist investors are coming to London to engage in “Listening Campaigns” with many of the long-only, household name investors. Clearly the activist will have their own views on their specific target but instead of launching into their own discourse, they are more interested in hearing what other shareholders in the target view the company in question.’