Don’t hack back; how to be an inspiring leader
Each week, we delve into the recent reading lists of finance professionals around the world. This week, we hear from Amal Ratnayake, FCMA, CGMA, the CFO at officialCOMMUNITY, an entertainment and media firm in Toronto. Here’s what’s resonating with him:
- “Are You Prepared for a Corporate Crisis?” This article underscores a key part of risk management: It’s difficult to predict when some sort of disaster will occur. Facts about the circumstances of a catastrophic event could be hard to come by. But knowing what to expect when a crisis arises will buy an organisation time and potentially mitigate certain risks.
- “Why Companies Shouldn’t Try to Hack Their Hackers”: It’s difficult enough to identify hackers, and even harder to punish them. The desire to “hack back” can open up the potential for significant unintended consequences, according to security company CEO Corey E. Thomas in Harvard Business Review.
- “Poorer Than Their Parents? A New Perspective on Income Inequality”: In many developed economies, the trend of flat or falling real incomes is real. Seven McKinsey authors explore when and where the trend of rising income ended and the economic and social effects it could have. A link at the end of the article includes further discussion, in transcript and podcast form, with two of the authors.
- “How to Be an Inspiring Leader”: A quote from the article that stood out: “If you want to change the way of being, you have to change the way of doing.” The best leaders have learned the value of changing their actions and changing their companies’ strategies, according to Eric Garton, a Bain & Co. partner, writing for Harvard Business Review.
- “Bridging the Gender Pay Gap”: Myriam Madden, FCMA, CGMA, explains how removing gender pay inequality can benefit business and society as a whole. She advocates for greater visibility of talent issues, including the gap in pay, in annual reports and communications with boards, investors, and consumers.