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Broken Business: Seven Steps to Reform Good Companies Gone Bad

Hardcover

CAD $30.00

Broken Business: Seven Steps to Reform Good Companies Gone Bad

José R. Hernandez

ISBN: 978-1-119-54750-1 December 2018 352 Pages

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Description

A PROVEN PROCESS FOR COMPANIES TO BOTH ADDRESS A CORPORATE SCANDAL AND CREATE THE CULTURE TO SUPPORT INTEGRITY AND GOOD CONDUCT

"Why do good companies go bad? Why do corporate scandals happen so often? Is corruption and misconduct in business inevitable? And, on a more pragmatic level, what can business leaders do about it? What can they do to save their companies when scandal strikes or, better yet, what can they do to avoid scandal in the first place? These are the questions that drive this book."

From the Preface

In this much-needed book, José Hernandez shares his decades of experience and wisdom working with companies in crisis and facing prosecution. Broken Business reveals how a business can reach the breaking point and offers a proven remedy for helping crisis-ridden companies regain their reputation and market share. This much-needed book defines the problem and outlines a seven-step process that both address corporate scandal and shows how to put in place the structures and culture to institutionalize integrity and good conduct.

"A concise look at how things can go wrong, how to deal with the fallout and how to ultimately become a better company."
—Ian Bourne, former Chairman, SNC-Lavalin Inc

"Excellent reading."
—Klaus Patzak, CFO of Bilfinger SE; former Corporate Vice President of Siemens AG

"I would recommend it to all corporate leaders, directors, and prospective directors."
—Peter Wakkie, former Board member of Royal Ahold NV; Chairman of TomTom NV

"The Empowering Integrity process properly describes the steps a company must take to master the journey from crisis to successful transformation."
—Bodo Uebber, Chief Financial Officer, Daimler AG

"A current and compelling treatise on how to prevent, detect and fix corporate mismanagement."
—Louis J Freeh, Former FBI Director, Chairman of Freeh Sporkin Sullivan LLP

About the Author xiii

Preface xvii

Acknowledgements xxix

PART I Introduction 1

THE PROBLEM

PART II The Tale of Wind International 21

The Crisis at Wind 23

Analysing the Problems at Wind 45

PART III The Bigger Picture 61

Why the System Fails 63

A Path to Reform and Change 81

THE SOLUTION

PART IV The Steps to Address a Corporate Scandal 103

Step 1 – Understand the Crisis 105

Step 2 – Undertake an Independent Investigation 131

Step 3 – Define a Roadmap to Recovery and Remediation 147

Step 4 – Achieve Criminal and Civil Resolution 173

PART V Institutionalizing Integrity and Good Conduct 191

Step 5 – Strengthen Structures to Prevent, Detect and Respond to Misconduct 193

Step 6 – Reshape the Culture 227

Step 7 – Refocus the Strategy 257

A RECALIBRATED SENSE OF LEADERSHIP

PART VI Concluding Thoughts and Leadership Roadmap 287

References 309

Index 311