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One was keep your mouth shut and listen.
with Arnold Palmer by Milton Rock
Ed. Note: This is an excerpt from “Arnold
Palmer on Golf and Business,” an article published in Directors & Boards
in 1983 in which the golfing legend discussed business and personal
dimensions of the game with the journal’s then chairman and publisher,
My father was never formally educated past the eighth grade. He came to
Latrobe, Pennsylvania, which is still my home, as a paperboy and a mail
carrier in the local steel mills. He got a job at the golf club that I
now own, because of his politeness and his willingness to work very
hard from the time he was 16 years old. He was at the club as the
course superintendent and pro until he died at 71.
This club was put together by a group of probably the most
sophisticated small-town businessmen in the world. Latrobe at the time
was one of the richest small business communities in the world, with
coal and steel and aluminum, a brick business, railroads, rubber,
glass, and wool mills. The people who ran those businesses played golf
and were literally my father's bosses.
In the Current Issue:
Second Quarter 2014
Acing the Board
The right questions to ask and behaviors to avoid so as to present
well. It's not enough to have the right qualifications.
Venture-Backed Company Board
These boards need to be optimally compsed, structure and incented for
each stage of a fast-moving development cycle.
In This Month's e-Briefing:
for a free subscription)
and The Shark
If it is July this
must be the golf edition of the e-Briefing.
This is the month we take a break from the heavy lifting we do the rest
of the year on covering weighty corporate governance matters.
How to be successful both on the golf course and
in the boardroom.
month, of course, the U.S. Open was played and that always makes for a
big golf story, particularly when a winner like Martin Kaymer
demonstrates such mastery of the game. But golf also figured into a
couple of business stories in June: one about golfer Phil
Mickelson’s name popping up in a story on an insider trading
investigation and another about the
golf industry in Canada fighting for tax breaks that its neighbor to
the south enjoys.
For this edition’s Article of the Month, we tapped Elizabeth Ghaffari,
an insightful commentator on leadership issues, particularly involving
women and leadership, to take a provocative swing at the golf theme.
And for this month’s Columnist we turned to a champion of the game,
Arnold Palmer. Two
years ago for our golf issue we revisited an interview he did with Directors & Boards.
There was a piece of that interview we did not use then and are using
it now. It is a twofer in a way: Another June event is Father’s Day, so
this essay has Arnie reflecting warmly about both golf and his father.
My own contribution to the golf theme? A few years ago another great
name of the game, Greg “The Shark”
Norman, came out with a book titled, “The
Way of the Shark: Lessons on Golf, Business and Life”.
At that time editors like myself were sent “50 Key Learnings That
Define Greg Norman.” I liked that list a lot, and I have pulled out 10
of the lessons that strike me as particularly pertinent for board
1) You are judged by the company you keep.
2) Learn the value of preparation.
3) Resolve conflict through personal interaction.
4) Study others. Apply what works. Discard what
5) Trust your instincts.
6) Focus on delivering substance over style.
7) When looking for partners, search for companies
with like-minded values.
8) Be willing to change in order to succeed.
9) Find a better way, but don’t take shortcuts.
10) Be a good partner; respect and defer to others’
That is a set of best practices from Greg Norman that will make for
success both on the golf course and in the boardroom.
I trust you are enjoying your summer.
As always, I welcome your comments at firstname.lastname@example.org.
Click the link below
to read more.
• Being a Leader: It's Not Just About Golf
• A father's Lessons
Events of Interest to
July 21, 2014
Join former FASB chairman Bob Herz and experts from FASB, AICPA, and
Workiva as they discuss the latest updates in private company
reporting. This complimentary CPE webinar at 2 p.m. ET will cover the
Private Company Council's most recently issued accounting alternatives,
reasons behind PCC's approach to every project, how organizations are
converting to the Financial Reporting Framework for small- and
medium-sized entities, and answers to common questions from private
register, visit here.
July 24, 2014
Alan Berson, a Learning Director at Wharton Executive Education,
keynote speaker and author of Leadership Conversations: Challenging
High-Potential Managers to Become Great Leaders (Jossey-Bass, 2013)
will conduct a full-day engagement at Delaware Valley College in Bucks
County, PA. He is one of the few leadership and communications
professors with extensive executive experience and his focus is on
providing practical and innovative solutions to not only improve
leadership and communication ability but also to grow leaders around
you—a must for directors! For more
information click here.
August 18-20, 2014
U.S. House of Representatives Inspector General Theresa Grafenstine
will be among the keynote speakers at the 2014 Governance, Risk and
Control Conference to be held in Palm Beach, Fla. The conference is a
collaboration between the Institute of Internal Auditors (IIA) and the
Information Systems Audit and Control Association (ISACA). The
conference will help participants integrate governance of enterprise IT
and risk management with key business strategies to achieve enterprise
objectives. The event is expected to draw more than 500 internal
auditors, IT auditors, and other risk, compliance and governance
more information click here.
September 3-4, 2014
WomenCorporateDirectors (WCD) will hold its 2014 Asia Institute at the
Ritz-Carlton Millenia Hotel, Singapore. The event will be a historic
gathering of more than 100 women directors from all over Asia and
around the world, and will be a high-powered idea forum exploring
compelling issues on the minds of today’s Asian directors. The program
will frame critical topics, discuss innovative ideas, and help
directors to reach constructive solutions. This forum will consist of
keynotes, "Conversations With" CEOs of global companies, panels, and
roundtable discussion groups. Participation in the WCD 2014 Asia
Institute is by invitation only for WCD members and invited women
directors. If you have suggestions for women directors to invite to the
Asia Institute, please send their professional bio, highlighting their
board of director experience to email@example.com.
September 24-25, 2014
The Ethisphere Institute and Thomson Reuters will host the 1st Annual
Europe Ethics Summit in London. Key topics include: Anti-Corruption
Trends Across Europe; Human Rights - Corporate Responsibility in
Protecting People and Managing Risk; Government Panel - Collaborative
Enforcement Across the EU; plus a range of breakout sessions tailored
to address specific interests. Key leaders of government agencies and
global companies will speak, including Emmanuel Lulin, chief ethics
office of L’Oreal; Sir Mark Moody-Stuart, chairman (founder), Royal
Dutch Shell; and Pamela Passman, CEO of the Center for Responsible
Enterprise and Trade. For
more information click here.
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