The reputation of a business depends on the personality and skills of the managers who lead it. A striking example is the scandal surrounding Tesco corporation, whose managers overstated profit forecasts. As a result the company accumulated a huge debt, lost customers and investors. Fraud and corruption within the pharmaceutical giant GlaxoSmithKline have also led to the new management of the company making every effort to regain customer trust.
What skills should top managers of companies possess in order to be reliable for business? How to avoid risks and corruption in companies at the highest level? These and other issues were discussed on September 12 at a meeting with business representatives. The meeting was devoted to the topic of the influence of the qualifications of a modern manager on the company's reputation.
Several members of the Academy of Certified Professional Managers expressed concern that the crisis of 2008 did not teach business much and that the practice of creating financial bubbles continues to this day. Other speakers and meeting participants at the joint discussion reached the following conclusions:
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business is becoming increasingly dependent on the personality of the manager who leads it;
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not all managers pay due attention to predicting possible risks and market changes, which threatens financial and reputational consequences;
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companies and investors should check the work of top managers more often;
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it is necessary to strengthen and improve the system of internal control in companies;
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in the interests of companies, it is necessary to complement the process of hiring managers with a mandatory assessment of the candidate's professional skills, regardless of his image and previous achievements.
All participants of the meeting agreed that a modern manager should think strategically, be able to make complex and multifactorial decisions in conditions of uncertainty, control the reputational state of the company, as well as the financial one. And also to take care of one's own professional improvement — to constantly update knowledge not only in a narrow field of activity, but also in related fields.
This meeting inspired the members of the academy to the idea of creating a professional standard of a modern manager and developing certification programs that will contribute to the development of effective and responsible management in the country.
