G4S and the art of squirming

If you fancy some good old fashioned entertainment listen to the grilling of the boss of G4S over the Olympic staffing scandal. One wonders why these big cheeses cannot admit failure outright instead of zigging and zagging around the questioner only to end up exactly where they know they will be. Damage limitation is the name of the game but peopel like him have a knack of failing to undertsand that , unless it is their ego and pay packet that blinds their judgment. The latter pair I reckon without a shadow of doubt.

It highlights the core issue around well paid FTSE bosses. When it goes wrong your neck is on the line and also your wallet. It's no good blaming others . You climbed the greasy pole to the top and now you are there why should you be immune form accountability on your watch ? Too much golf and hobnobbing instead of walking the factory floor perchance ? Assuming of course you know where the "factory" is....

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well in a matter of months    1 thanks

justsotax | | Permalink

we seem to have uncovered a vast number of incompetent execs at the top of the tree - crossing from the police service. newpaper group, football, banking and security......all have one thing in common, the front to accept the big pay packets but with a wish to take none of the responsibility, 

 

There was a time, long ago...when a leader...well would lead....from the front. 

Flying Scotsman's picture

Incompetents

Flying Scotsman | | Permalink

Yes, I was just thinking that yesterday . It's like buses - the all come at once . Many of the people at the top get there , I believe, by playing the corporate system well and surviving. Howver, they have not got that all important personal grip that flows thru the organisation and its management. You could argue that in any organisation the size of a FTSE global company something is bound to go wrong. Perhaps so. Is it easier to avoid/ solve biggies like this if the CEO is a company man who worked with them for 20 years and has company blood in his veins ? I reckon a career CEO just cannot do the same as a home grown man. Anybody fancy undertaking a study ?

Old Greying Accountant's picture

I agree ...

Old Greying Acc... | | Permalink

... the banks worked better when the bosses started on the counter and worked their way up through every department, learning exactly how the bank worked.

When you get the likes of Bob Diamond parachuted in at the top, and tiers of parachuted in underlings in the top echelons, you have a bank governed by a team where none actually know how the bank works from the roots up! The same would apply to any organisation.

 

Flying Scotsman's picture

Working up

Flying Scotsman | | Permalink

So why is nobody else talking about this flawed culture ? Where are all the business gurus and their expertise ?

Old Greying Accountant's picture

Probably ...

Old Greying Acc... | | Permalink

... getting parachuted in to top jobs they know squat about!

Flying Scotsman's picture

Parachuting in a CEO

Flying Scotsman | | Permalink

They know how to land well. The PR hype of a new face is part of the problem. It becomes about the CEO not the company . The ego rather than the economics.

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