The Counter-deception Blog
Examples of deceptions and descriptions of techniques to detect them. This Blog encourages the awareness of deception in daily life and discussion of practical means to spot probable deceptions. Send your examples of deception and counter-deception to colonel_stech@yahoo.com.Saturday, December 18, 2004
Stupidity Trumps Fraud
But fraud also trumps the stupid.
It's Time to Take Your SOX Off
By Paul Kocourek, Jim Newfrock, and Reggie Van Lee
More shareholder value has been wiped out in the past five years as a result of strategic mismanagement and poor execution than was lost in all of the recent compliance scandals. A Booz Allen Hamilton analysis of 1,200 firms with market capitalizations of more than $1 billion found that the poorest performers -- the 360 companies that trailed the S&P 500 between 1999 and 2003 -- destroyed almost seven times more value through strategic missteps than by compliance failures. Fully 87 percent of value destruction was attributable to such failures as management ineffectiveness in reacting to competitive pressures or forecasting customer demand, or operational blunders, such as cost overruns and M&A integration problems. These findings suggest that even in the face of Sarbanes-Oxley, to manage for growth, companies must design a robust and integrated strategic planning process built on a broad understanding of all risks to the business.
To read the full article:
http://www.strategy-business.com/resilience/rr00014
It's Time to Take Your SOX Off
By Paul Kocourek, Jim Newfrock, and Reggie Van Lee
More shareholder value has been wiped out in the past five years as a result of strategic mismanagement and poor execution than was lost in all of the recent compliance scandals. A Booz Allen Hamilton analysis of 1,200 firms with market capitalizations of more than $1 billion found that the poorest performers -- the 360 companies that trailed the S&P 500 between 1999 and 2003 -- destroyed almost seven times more value through strategic missteps than by compliance failures. Fully 87 percent of value destruction was attributable to such failures as management ineffectiveness in reacting to competitive pressures or forecasting customer demand, or operational blunders, such as cost overruns and M&A integration problems. These findings suggest that even in the face of Sarbanes-Oxley, to manage for growth, companies must design a robust and integrated strategic planning process built on a broad understanding of all risks to the business.
To read the full article:
http://www.strategy-business.com/resilience/rr00014
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