On Social Bonds
In contrast to a Green Bond, where proceeds are applied towards environmental and climate causes, the proceeds of Social Bonds are directed towards social purposes and outcomes. The International Capital Market Association has published guidelines for issuing Social Bonds. These are known as the ‘Social Bond Principles.’
The American Website
The website as we know it today began with Apple in 1998. Its premise matched that of the iMac in that the website should be easy to navigate and user-friendly. By showing one thing at a time, Apple made their mission visible, to bring personal computing products to consumers around the world. First, it was the iPhone, then the iPod, then the AirPods. This soon ignited the imagination of other corporations who quickly followed suit.
Americans enjoy a form of pension fund socialism
Janan Ganesh rightly says that the US has become a social democratic country (“Popularity of Biden’s stimulus reveals a changed US”, Opinion, March 3). But it has been a social democratic country long before the issue mesmerised millennials. Ever since the antebellum period and Werner Sombart’s Why is there No Socialism in the United States? (1906), pension fund socialism has given Americans a large stake in equity capital and control of the largest US corporations.
Sustainable Development and Modern Management
The UN’s Sustainable Development Goals are actually unified by one simple idea. Namely, that to achieve better outcomes, mankind needs to work together. However, contrary to popular belief, the best way for us to work together cannot be decided in a few minutes’ consideration. Neither by the alignment of planets, government policy, nor economic indicators. It is instead determined by science. And this science of work, very simply put, is management.
It’s less like chess than an AI-powered video game
You ask what is the goal of the business corporation. But this is a fallacious question. This is tackling the corporation on the level of a grade schoolchild. The business corporation sets more than one goal and they vary significantly.
Alexander Hamilton invented the modern CEO.
My Years with General Motors (1963), was considered by Peter F. Drucker “the best management book” out there. In this book, we learn that Alfred P. Sloan consulted the spirit of Alexander Hamilton – and the American Constitution – to successfully develop his management principles and concepts for GM.
German management in the Wirecard headlights
There is one misunderstanding as to why fatal “accidents” such as Wirecard occur in German businesses (“German corporations — and regulation — are in the dock,” Opinion, July 1). The driving economist in Jonathan Guthrie’s article claims that accidents happen because Germany adopted the structures of top management from the US. But, the board and top management structure were first invented and designed in Germany, by Georg Siemens (1839-1901) when building Deutsche Bank in the 1870s. The US gleaned from Germany, not the other way around.
Churchill didn’t work at McKinsey
Since Churchill, ideas about leadership have changed. Unlike in his day, social media plays a vital role in “proving” leadership qualities. Today a person is judged on leadership skills based on the number of “followers” they have, regardless of how those followers are acquired. Peter Drucker’s definition of leadership is being literally applied: “The only definition of a leader is someone who has followers”, although perhaps not in the way he intended. Today, for a person to present him- or herself as a “future leader,” he or she needs to not only demonstrate purpose, the ability to empower, and a preference towards learning, but also well-known and reputable firms on their CV.
How does the salary of a top manager come about?
"You don't talk about money. You have it." In Germany, salary is somewhat a taboo subject. In the global market, however, things are different. Here, people talk openly about money. Because good employees don't come for free - and neither do good managers.
