Business and Money Tips

Brakes to Go Faster in Corporate Governance What allows a Ferrari to go fast? A powerful engine?  Of course.  But would you dare to drive at 200 kilometres per hour if the car had no or ineffective brakes ?  Probably not. In fact, the faster the car, the more important the brakes become. Good brakes don't make the car slower. Good brakes give you the confidence to go faster. And that is exactly how I see corporate governance . Many businesspeople think governance is there to slow them down.  More rules, approvals, questions, paperwork. I see it differently. Corporate governance is the brakes that allow a business to go faster and safely. And when governance fails, even a powerful company can crash. Let me give you a Singapore example. Many of us remember Hyflux Limited .  At one time, Hyflux was one of Singapore's great entrepreneurial success stories.  Started in 1989, i t grew from a small water-treatment business into an international comp...

Most people think making more money means working harder. I don't. I believe the real question is: How can you move faster with less fear? The answer is Corporate Governance . Think of corporate governance like the brakes on a high-performance car . Without good brakes, would you dare to drive at 200 km/h? Of course not.  Ironically, the better your brakes, the faster you can safely go. The same applies to business. Corporate governance is not just about complying with government rules and regulations. It is about three things: First, protecting your business from unnecessary risks. My client wants to bet big on the oil futures.  With an independent director questioning at the board meeting, my client took the risks WITH SAFEGUARDS.  Second, making better decisions through accountability and transparency. As a corporate coach and trainer, my clients need to explain why they do something. Such accountability and transparency may slow things down at the beginning, they do s...