6 research outputs found
The chemistry factor in the Chairman/CEO relationship
Summary This paper reports a study into the nature, dynamics and effects of the 'chemistry' of the Chairman/Chief Executive Officer (CEO) relationship. A qualitative, semi-structured interview, narrative analysis methodology over a twenty-eight month period was adopted. A sample of CEO's, Chairmen and Non-Executive Directors (NEDs) across the boards of nine corporations, agreed to participate in in-depth discussion. Personal narratives of the board director's experience, particularly from the perspective of enabling understanding of the 'chemistry' of the Chairman/CEO relationship, were analysed in terms of boardroom and organisational effect. There are two elements to 'chemistry', analytical interpretative capacity (sense making) and deep friendship (philos). Both emerge as primary to determining Chairman/CEO effectiveness and in combination nurture meaningful knowledge sharing as well as a desire for learning in the boardroom. Absence of either allows for a workable relationship, but with neither, the Chairman/CEO dyad and the organisation are harmed. This qualitative study draws attention to the criticality of sense making and philos as determinants of the quality of the Chairman/CEO relationship. The study results emphasise the critical nature of the Chairman/CEO relationship in determining boardroom and organisational effectiveness. Development of this dyadic interaction is considered to positively benefit boardroom dynamics and organisational performance.Board dynamics Chairman/CEO relationship Narrative Philos Relational chemistry Sense-making
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When rules and principles are not enough: insiders' views and narratives on the global financial crisis
Much has been written about Wall Street and the global financial crisis (GFC). From a fraudulent derivatives market to a contestable culture of banking bonuses, culpability has been examined within the frames of American praxis, namely that of American exceptionalism. This study begins with an exploratory analysis of non-US voices concerning the nature of the causes of the GFC. The analysis provides glimpses of the globalized extent of assumptions shared, but not debated within the globalization convergence of financial markets as the neo-liberal project. Practical and paradigmatic tensions are revealed in the capture of a London-based set of views articulated by senior financial executives of financial service organizations, the outcomes of which are not overly optimistic for any significant change in praxis within the immediate future
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Chronic failure in globalized, oligopolistic markets: an urgent case for socialized capital
Purpose – The purpose of this paper is to highlight the serious limitations of neo-liberal capitalism and urge for a shift to socialized capital before further economic deterioration leads to a succession of global conflicts.
Design/methodology/approach – This conceptual paper adopts a macro perspective in presenting argument on how global, financial markets integration and capital flow liberalization have led to inadequate market and corporate governance measures. The argument is couched in a selected literature and is preceded by a proposed solution – the requirement for socialized capital. An analysis of the nature of socialized capital is outlined and the questions that require attention identified if a paradigm shift from neo-liberal capitalism is to take place.
Findings – The need to urgently shift to a new philosophy of capitalism is overwhelming. Emphasized is that capital needs to adopt a socialised identity and is supported by investment horizons of 30 years or more. It is argued that non-market (e.g. state, NGOs, civil society) intervention is critical in setting appropriate frameworks within which socialized capital can operate.
Research limitations/implications – This is a theoretical paper, in which questions are raised which require transparent, public debate.
Originality/value – The paper presents the case for a fundamental reconsideration of present day markets, the role of capital and the influence of elites in determining the public goo