Peter Scott Smith

19 Flips | 1 Magazine | 1 Like | 2 Followers | @smithpeterscott | Keep up with Peter Scott Smith on Flipboard, a place to see the stories, photos, and updates that matter to you. Flipboard creates a personalized magazine full of everything, from world news to life’s great moments. Download Flipboard for free and search for “Peter Scott Smith”

The Not-So-Broken-Windows Theory Of Company Culture And Excellence

Every consultant has secrets, shortcuts, tricks of the trade. For me, if called on to quickly size up a company’s culture, customer-centricity, customer service or operational excellence, I’ve been know to start by checking out how clean the windows are.<p>Let me back up. You’re likely familiar with …

A Simple Chart That Explains Why You're Addicted To Certain Products

How do companies create habit forming products? It's simple: They manufacture them.<p>In 2008 Nir Eyal was part of a team of Stanford MBAs starting a company backed by "some of the brightest investors in Silicon Valley."<p>They wanted to build a platform to place ads into online social games. Eyal …

Barclays job losses: Is the new boss asserting his authority?

Barclays is about to significantly cut down to size a part of the bank that was built up by the former chief executive, Bob Diamond.<p>Around 24,000 …

Where exactly has the Co-op gone wrong?

<b>Sub-prime mortgages</b> The homebuyer has stopped paying, buy-to-let loans gone sour, lending to office developments that have failed to find tenants, compensation for PPI misselling and loans to football clubs now in default are behind the record £1.3bn loss at the Co-operative Bank.<p><b>Mortgages</b> Fewer …

Why Incentives Don't Actually Motivate People To Do Better Work

You would think that rewarding people for being good at their jobs would make them better at them.<p>But social science shows that it doesn't, for a number of reasons.<p>The go-to cliché for motivation is <i>the</i> <i>carrot and the stick,</i> with the carrot being the sweet reward and the stick the thwapping …

RBS Replaces CFO Nathan Bostock with Ewen Stevenson After Shock Resignation

The Royal Bank of Scotland Group has appointed Ewen Stevenson the group's chief finance officer after Nathan Bostock shockingly resigned in December …

A company’s culture has to come from within or it will fail

<i>This is an edited version of this article and is reprinted with permission from Rotman Management, the magazine of the University of Toronto's Rotman School of Management.</i><p>In January of 2009, <b>TED Airlines</b> flew its final route and ceased operations, after only five years in service. Parent company</b> …

Why Companies Fail

GM’s stock price has sunk by a third since its IPO. Why is corporate turnaround so difficult and rare? The answer is often culture—the hardest thing of all to change.<p>The American auto industry—an industry that’s been the proud symbol of America’s manufacturing might for a century, an industry that …

Cultural Change That Sticks

In the early 2000s Aetna was struggling mightily on all fronts. While on the surface revenues remained strong, its rapport with customers and physicians was rapidly eroding, and its reputation was being bludgeoned by lawsuits and a national backlash against health maintenance organizations and …

How Do You Change An Organizational Culture?

Changing an organization’s culture is one of the most difficult leadership challenges. That’s because an organization’s culture comprises an interlocking set of goals, roles, processes, values, communications practices, attitudes and assumptions.<p>The elements fit together as an mutually reinforcing …

Training day

IN 1856 Royal British Bank, a colossal fraud described by this paper as “an extraordinary example of the little trouble the public take to think for …

Will A Cultural Change Avoid A Future Banking Crisis?

<i>By Ralph S J Koijen, Professor of Finance at London Business School.</i><p>We need to address the broader problem of independent regulator working, risk avoidance and the lack of synchronised contingency planning.<br>• Culture change in banks is near impossible.<p>In the five years since the collapse of Lehman …

Martin Wheatley: We can't change bank bonus culture overnight

The boss of the Financial Conduct Authority writes for The Telegraph ahead of a major report into sales incentive schemes<p>Incentives are used ideally to reward "good" performance. However, as we saw with the mis-selling scandals which have had such a profound impact on financial services here and …

Commands can’t change culture at investment banks

Print this page<p>Credit Suisse is the latest investment bank to issue an edict aimed at protecting the work-life balance of its junior employees – and …

The Key to Changing Organizational Culture

The Boston Globe just ran a front-page story in their “Ideas” section on organizational culture, inspired by some depressing events involving the Boston University hockey team. It was much more impactful than the average writing about culture, and raised the important question: Why do conversations …