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Featured Article

A Father’s Lessons
One was keep your mouth shut and listen.

Interview with Arnold Palmer by Milton Rock

Ed. Note: This is an excerpt from “Arnold Palmer on Golf and Business,” an article published in Directors & Boards in 1983 in which the golfing legend discussed business and personal dimensions of the game with the journal’s then chairman and publisher, Milton Rock.

My father was never formally educated past the eighth grade. He came to Latrobe, Pennsylvania, which is still my home, as a paperboy and a mail carrier in the local steel mills. He got a job at the golf club that I now own, because of his politeness and his willingness to work very hard from the time he was 16 years old. He was at the club as the course superintendent and pro until he died at 71.

This club was put together by a group of probably the most sophisticated small-town businessmen in the world. Latrobe at the time was one of the richest small business communities in the world, with coal and steel and aluminum, a brick business, railroads, rubber, glass, and wool mills. The people who ran those businesses played golf and were literally my father's bosses.

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In the Current Issue:

First Quarter 2014 cover

Second Quarter 2014

 

Acing the Board Interview
The right questions to ask and behaviors to avoid so as to present well. It's not enough to have the right qualifications.

Assembling a Venture-Backed Company Board
These boards need to be optimally compsed, structure and incented for each stage of a fast-moving development cycle.

In This Month's e-Briefing:
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Summer and The Shark
How to be successful both on the golf course and in the boardroom.

By Jim Kristie

If it is July this must be the golf edition of the e-Briefing. This is the month we take a break from the heavy lifting we do the rest of the year on covering weighty corporate governance matters.

This pas
t month, of course, the U.S. Open was played and that always makes for a big golf story, particularly when a winner like Martin Kaymer demonstrates such mastery of the game. But golf also figured into a couple of business stories in June: one about golfer Phil Mickelson’s name popping up in a story on an insider trading investigation and another about the golf industry in Canada fighting for tax breaks that its neighbor to the south enjoys.

For this edition’s Article of the Month, we tapped Elizabeth Ghaffari, an insightful commentator on leadership issues, particularly involving women and leadership, to take a provocative swing at the golf theme. And for this month’s Columnist we turned to a champion of the game, Arnold Palmer. Two years ago for our golf issue we revisited an interview he did with Directors & Boards. There was a piece of that interview we did not use then and are using it now. It is a twofer in a way: Another June event is Father’s Day, so this essay has Arnie reflecting warmly about both golf and his father.

My own contribution to the golf theme? A few years ago another great name of the game, Greg “The Shark” Norman, came out with a book titled, “The Way of the Shark: Lessons on Golf, Business and Life”. At that time editors like myself were sent “50 Key Learnings That Define Greg Norman.” I liked that list a lot, and I have pulled out 10 of the lessons that strike me as particularly pertinent for board members:

1)    You are judged by the company you keep.
2)    Learn the value of preparation.
3)    Resolve conflict through personal interaction.
4)    Study others. Apply what works. Discard what doesn’t.
5)    Trust your instincts.
6)    Focus on delivering substance over style.
7)    When looking for partners, search for companies with like-minded values.
8)    Be willing to change in order to succeed.
9)    Find a better way, but don’t take shortcuts.
10)    Be a good partner; respect and defer to others’ talents.

That is a set of best practices from Greg Norman that will make for success both on the golf course and in the boardroom.

I trust you are enjoying your summer.


As always, I welcome your comments
at jkristie@directorsandboards.com.

Click the link below to read more.

Read more...

PLUS:

• Being a Leader:  It's Not Just About Golf

• A father's Lessons

View Past E-Briefings

Events of Interest to Directors

July 21, 2014
Join former FASB chairman Bob Herz and experts from FASB, AICPA, and Workiva as they discuss the latest updates in private company reporting. This complimentary CPE webinar at 2 p.m. ET will cover the Private Company Council’s most recently issued accounting alternatives, reasons behind PCC’s approach to every project, how organizations are converting to the Financial Reporting Framework for small- and medium-sized entities, and answers to common questions from private companies. To register: http://info.workiva.com/20140721Webinar-MGMT-pvt-TrendswithFASBandAICPA_Registration.html?RegisteredVia=0714directorsandboards.

July 24, 2014
Alan Berson, a Learning Director at Wharton Executive Education, keynote speaker and author of Leadership Conversations: Challenging High-Potential Managers to Become Great Leaders (Jossey-Bass, 2013) will conduct a full-day engagement at Delaware Valley College in Bucks County, PA.  He is one of the few leadership and communications professors with extensive executive experience and his focus is on providing practical and  innovative solutions to not only improve your leadership and communication ability but also to grow leaders around you—a must for directors! For more information click here.

August 18-20, 2014
U.S. House of Representatives Inspector General Theresa Grafenstine will be among the keynote speakers at the 2014 Governance, Risk and Control Conference to be held in Palm Beach, Fla. The conference is a collaboration between the Institute of Internal Auditors (IIA) and the Information Systems Audit and Control Association (ISACA). The conference will help participants integrate governance of enterprise IT and risk management with key business strategies to achieve enterprise objectives. The event is expected to draw more than 500 internal auditors, IT auditors, and other risk, compliance and governance professionals. For more information click here.

September 3-4, 2014
WomenCorporateDirectors (WCD) will hold its 2014 Asia Institute at the Ritz-Carlton Millenia Hotel, Singapore. The event will be a historic gathering of more than 100 women directors from all over Asia and around the world, and will be a high-powered idea forum exploring compelling issues on the minds of today’s Asian directors. The program will frame critical topics, discuss innovative ideas, and help directors to reach constructive solutions. This forum will consist of keynotes, "Conversations With" CEOs of global companies, panels, and roundtable discussion groups. Participation in the WCD 2014 Asia Institute is by invitation only for WCD members and invited women directors. If you have suggestions for women directors to invite to the Asia Institute, please send their professional bio, highlighting their board of director experience to info@womencorporatedirectors.com.

September 24-25, 2014
The Ethisphere Institute and Thomson Reuters will host the 1st Annual Europe Ethics Summit in London. Key topics include: Anti-Corruption Trends Across Europe; Human Rights - Corporate Responsibility in Protecting People and Managing Risk; Government Panel - Collaborative Enforcement Across the EU; plus a range of breakout sessions tailored to address specific interests. Key leaders of government agencies and global companies will speak, including Emmanuel Lulin, chief ethics office of L’Oreal; Sir Mark Moody-Stuart, chairman (founder), Royal Dutch Shell; and Pamela Passman, CEO of the Center for Responsible Enterprise and Trade. For more information click here.

See all events.


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