Going back in history a few years back when Nedbank (a small bank at the time) were on the brink of taking over Standard Bank.
The transaction failed because Standard Bank mobilised the unions to call a strike.
The guy in Standard Bank got a mere R500K bonus for the plan, which pushed his earnings up to R2.2m before tax for the year. Perhaps he regrets the decision today, as he went into retirement this year and will be forgotten.
An example were survival values over rides moral values?
Never the less, boardrooms are made of an EQUAL balance of the skills below, else companies become targets for take over due to their lack of direction.
P - produce (like bricklayer - give him a plan and material, and he will build units until there is no more money for material)
A - administrative (accountant - give him budgets, policies, a bank account and he will invest all the money, stop all the projects and retrench the staff)
E - entrepreneural (schemer - give him rope and he will invent new product every day until we have more products than customers)
I - interpersonal (marketing - will have staff break aways, golf days for the customers, CRM systems, bursaries, Linkin, twitter, facebook, sms, email etc campaigns - nice to the unions/have their backing)
Sadly if any one of these take the lead, the company steers off course
Nepotism (perhaps survival takes precedent over moral and business values).
Unless we have a balance of the P A E I skill set, both Phumalela and the RA will tumble and financial scandals will be the end result.
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