Policy and Legislation - greasing the wheels or a slipper slide to demise

I was reading the Washington Regulatory Update this week, and being a member of the ISACA Government and Regulatory Agencies subcommittee region three, we are exposed to movements in legislation re IT Governance in Europe, Middle East and Africa. There's a huge amount of activity at the moment, from changes at Basel, the Dodd- Frank Act et al.

For what it's worth, my pennies worth, or rather a word of caution. We must be very careful that we don't promulgate legislation and policy (even at business and professional level) that stifles the very source of capitalism it's designed to protect. There must be a balance. I'm concerned that we are striking a balance too far to one end of the pendulum. What happens when business is stifled and unemployment rises. Do we review what was put in place and then have an epiphany in the other direction. i.e. for the greater good...... which was probably the reason why we did it in the first place! At least this is why we hope this is being done, but sometimes one can't help but feel that it's political grandstanding.

Unfortunately, there's a very real fundamental that lawmakers seem to miss. The presense of policy and law does not make the problem go away or make companies and shareholders ethical. The real threat of consequence should be the kicker!!

At the same time, Boards and Management need to knuckle down and deal with the fundamentals- good sustainable business. If you're rotten, you deserve to get left in the orchard.

Making Time for the green.

I was at a conference recently and a topic of conversation revolved around the implementation of a control framework. A couple of the delegates indicated that they would not have time to implement this as it was more important to "do" other stuff like delivering service, adding value. I was shocked to say the least. It's tantamount to going on holiday without planning. Let's all get in the car and go - Where you may ask?, doesn't matter, we're busy "doing"

It's this same attitude that causes the downfall of so many companies - we must be seen to do stuff, but we don't have the time to ensure that what we are doing, is the right thing. The C-Suite must take the time and effort to ensure that controls are in place, be it a formal structure, Performance Management, business plan or strategy. It's ludicrous to not do so. This should not be an option.

Do a formal corporate review annually - take a page out of the mergers and acquisitions handbook, a good due diligence can really raise the issues to the forefront. If you're going to debate, at least debate the most pertinent issues, and make sure that these get resolved within an agreed time frame. Make and hold someone accountable. It's all a question of sustainability. Imagine if we played golf like we run some businesses. We'd never get onto the green.

Strategy for Nova Scotia

I've recently started a new service to member of the NS Association of CBD's in Nova Scotia, offering free high level advice on strategy and business direction - specifically through the Greater Halifax Partnership. You can contact me directly or through the Association. Obviously, should detailed strategic plans and business review be required, a nominal fee will be charged.
I'm also available on Skype, and video/teleconferencing.