Image by Hitesh Choudharya via Unsplash Many have touted the arrival of blockchain technology as the next frontier in business operations, a pioneering breakthrough that possesses the potential to transform conventional procedures across industries. Often associated primarily with cryptocurrencies like Bitcoin, the application of blockchain goes far beyond this investment phenomenon. To understand blockchain technology's potential impact, we must first examine the fundamentals of this groundbreaking approach. At its core, blockchain is a decentralized system where all transactions or digital events get consolidated into 'blocks' and distributed across a network of computers, referred to as 'nodes'. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data. The unique attribute of this system is its ability for self-audit - a quality that…
Books Can Spark New Ideas and Shift Your Thinking When your days are packed with meetings, operational fires, and never-ending to-do lists, reading often slips down the priority list. And when you do finally have a moment to crack open a book, it’s tempting to reach for the familiar — that go-to stack of leadership reads that feel comfortable, safe, and predictable. However, if you’re looking to grow, evolve, or reignite your perspective, it might be time to shake up your inputs and that starts with what you choose to read. Fresh insights are unlikely to emerge if you stick with familiar authors and comfort genres. Staying within this echo chamber can limit your perspective and keep you stuck in…
Charlie Munger interviewed after the annual Berkshire Hathaway shareholders meeting in 2015. Image by Kent Sievers on Shutterstock. Charles Munger, who stood as a remarkable pillar in Berkshire Hathaway's development for nearly six decades alongside Warren Buffett, passed away at 99 on 28 November 2023. Munger was fundamental in the transformation of Berkshire Hathaway from a struggling textile production company into a global powerhouse. His passing occurred in a California hospital on Tuesday, as reported by the firm. Known for his long-standing residency in Los Angeles, Munger's vast contributions have not gone unnoticed. "Without Charlie's invaluable inspiration, wisdom, and involvement, Berkshire Hathaway wouldn't be where it is today," Buffett articulated in the statement. Born in Omaha, Nebraska in 1924, Munger was…
Tug-of-War: Why Paradoxes Define Modern Business A clear theme is emerging across industries and countries: business leaders are navigating a level of complexity unlike anything they’ve seen before. According to a PwC Annual Global CEO Survey, 40% of CEOs believe their organisations will not be economically viable in 10 years if they stick with their existing strategies. This is a reflection of a business environment where the traditional rules no longer apply. This sense of urgency is driven by an environment characterised by rapid technological, geopolitical, and economic shifts. The dynamic nature of modern business demands decision-making models that are more adaptive, collaborative, and fast-moving than previous approaches allow. Leading a company or team is no longer about having the…
Image by AndriiKoval on Shutterstock There has been a significant shift in the approach businesses take to their operations. No longer is profit the sole driving factor in the corporate world; instead, an increasing emphasis is being placed on ethical business practices. From 'fair trade' to 'sustainable sourcing', there's a growing trend amongst businesses to make ethical decisions - not only because it's the "right thing to do", but because consumers are demanding it. Being Good is Good Business. - Anita Roddick (Founder of The Body Shop) But what exactly do we mean when we talk about ethical business practices, and how are they affecting consumer response? Ethical business practices: Typically includes practices that promote transparency, ensure worker rights, take…