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Inside Internal Controls

News and discussion on implementing risk management

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succession planning

Succession planning: Apple did it right; why do so many do it wrong?

Lululemon announced Monday that chief executive officer Christine Day will be stepping down after a five-year tenure. Shares plummeted after the statement, down 15 percent by Tuesday morning. During her time as CEO, Day helped grow the high-end yoga brand’s sales to more than $1 billion annually. It’s clear that CEO transitions present a great deal of risk for shareholders, especially as new perceptions are formed. So what’s the best way to deal with risk mitigation during publicized CEO transitions?

 

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A broader view of workplace diversity

Workplace diversity efforts often focus on employees’ gender, race and ability. The Canadian Institute of Chartered Accountants wants to broaden employers’ horizons and help them see the larger picture of diversity. “The concept of diversity encompasses factors including age, culture, personality, skill, training, educational background and life experience. The influence of a variety of perspectives and viewpoints can contribute to flexibility and creativity within organizations, which can help them thrive in a complex and competitive global economy.”

Is she suggesting organizations hire unskilled and inexperienced workers with poor personalities? Probably not.

 

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Business planning and the business of digging holes

I’m in the middle of a pretty large home renovation project right now, which means there’s a great big hole in my basement floor and the foundation is fully exposed. It’s been that way for weeks now. The reno project isn’t delayed due to lack of hard work, it’s the planning that’s causing the problems. I’m waiting on this and I’m waiting on that. I can fill the hole, but I can’t do it until the plumber comes and does his thing. If you’re running a business or managing work and workers, I’m sure you have some idea of what I’m talking about.

 

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