Fit for purpose?
‘At present, there is no effective means of appropriately punishing actions by directors that have a significant adverse impact on their shareholders, stakeholders or on society in general. Any sanctions must, of course, be proportionate and justified, and must distinguish between bad behaviour and poor decisions made in good faith. But that does not reduce the need for them.’
Rethinking reputational risk
‘Once identified these risks are hard to discuss because they are “off limits”. We humans operate under complex social conventions that include what anthropologists call “social silences”: things people won’t discuss because, as Gillian Tett put it, they are “dull, taboo, obvious or impolite”. … As a result, these risks fester and incubate, unseen and unmanaged.’