Bringing the mongrel back to business culture

Australia's business community used to embrace bold and brash ideas, but in recent years it has been stifled by a lack of creativity and initiative, affecting our prospects for productivity and growth.

The Australian Institute of Company Directors has just called for additional legal protections for directors in the form of an ‘honest and reasonable director’ defence to create an environment where company directors can feel more confident to take risks. While it is a laudable idea, in reality legislation will not alter existing boards’ risk appetite.

Australian boards are characteristically risk averse. The problem is our business culture, which these days lacks outspoken, audacious entrepreneurial leaders who make risky decisions.

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