From my HCM blog:
I've already mentioned that one of Mintzberg's remedies for short termism is to get the analysts of the backs of the corporation. Others are to:
- Take corporate governance seriously
- Keep the mercenaries out of the executive suites.
But I think Mintzberg's last suggestion is potentially the most valuable.This is:
- Treat the enterprise as a community of engaged members, not a collection of free agents. We can start, for example, with compensation systems that encourage co-operative effort. Corporations are social institutions, which function best when committed human beings (not human "resources") collaborate in relationships based on trust and respect. Destroy this and the whole institution of business collapses.