Strategic Leadership for Business Value Creation: Principles and Case Studies

Preface
Contents
List of Figures
List of Tables
Part I: Key Elements of Strategic Leadership
	Chapter 1: Leadership
		Introduction
		Leadership and Its Impact
		Leadership Axioms: What Works?
		Leadership Characteristics
			Leadership Characteristic: Vision and Strategy
			Leadership Characteristic: Trust
			Leadership Characteristic: Participation
			Leadership Characteristic: Learning
			Leadership Characteristic: Creating a Winning Attitude
			Leadership Characteristic: Making the most of Diversity
			Leadership Characteristic: Creativity
			Leadership Characteristic: Integrity
			Leadership Characteristic: Community—Caring Beyond Yourself
		Conclusion: Postscript on Leadership
		Reference
	Chapter 2: Organisational (Business) Strategy
		Introduction
		The Ever-Changing World in Which We Must Create Value
		The Centrality of Business Strategy
		The ‘Grand Plan’ and Its Execution
			BHPB: Our Charter
			Our Values
		Focus Versus Diversification
		Generic Strategies for Business Competitiveness and Capabilities
		Strategy Implementation
			Commitment to the Strategy
		Strategy Implementation as Change Management
			Implementation Requires Alignment and Forcefulness: But there Are no Guarantees
		Accountability for Outcomes
		Strategy Making in the New Global Context: 2020–2030
		2020–2025 as an Opportunity to Review and Renew
		Summary Comments on Strategic Futures: 2020–2030
		Concluding Remarks on Strategy
		Appendix: Operational Efficiency and ‘Excellence’: Production and Change Management
			Operational Effectiveness and Value Creation
				Designing for Operations Effectiveness
				Generic Strategies and Operations Implications
				Specific Design Decisions of the Operation
				Quality and Cost: Untangling Their Complex Relationship
			Discipline of Implementation Actions: Project Management
		References
	Chapter 3: Organisational Governance
		Introduction: Effective Corporate Governance
			Effective Governance Starts with Boardroom standards and Activities
		What Is an Exceptional Director | 10 ‘X-Factors’?
		Directors and Board Performance
		The Role of the Company Secretary
		Concluding Remarks
	Chapter 4: Corporate Social Responsibility
		Introduction: Important Things Well Beyond This Year’s Profits
			The ‘Old School’ Sceptical View
			The Modern Approach
			Motivation for CSR / Sustainability Initiatives
		The Core of CSR
			CSR Concepts
			Global Considerations
			How About Government?
		Taking CSR / Sustainability Forward
		CSR: Win-win, an Illusion or Inherent in Business Values?
		Conclusion
		References
	Chapter 5: Leaders of the Future
		Introduction: A Leadership Journey
			Mentor and Be Mentored
			Develop the Leader Within You
			Learn How to See Both the Big Picture and the Details
			Never Stop Learning
			Become Globally Oriented
			Never Compromise Your Integrity
			Build a Network for the Long Term
			Know Your Customers, Competitors and Marketplace
			Develop a High-accountability Organisation
			Always Apply the Common-Sense Test
			Know Social Media and Technology
			Be a Team Player
		Lead Both Processes and Projects
			Always Keep Your Feet on the Ground: Remain Humble
			Be Sincere: Tell the Truth
			Know the Numbers: and the ‘Competitive Advantage’ That Drives Them
			Help Others to Succeed
			Deliver!
			Deeply Understand Both Risk and Return
			Strive to Achieve Work-Life Balance
			Never Forget the Shareholder
		In Conclusion: Consider the Costs and Benefits
Part II: Introduction to the Case Studies
	Chapter 6: NAB (A): Banking and Financial Services, 1960–2020
		Banking Deregulation
		Change Was in the Air: Non-banks and Superannuation
		Financial Services and the 1979–81 Campbell Committee Report
			Banks and the Campbell Committee
			Process of Deregulation
		The Entry of Foreign Banks
		Effects of Deregulation on the Domestic Financial Scene
		Leadership and Management of Banks
		National Australia Bank
			NAB Vision and Strategy
			Internationalisation of Australian Banking
			From NBA to NAB: The CBC/NBA Merger
			The Internal Analyses
			Formation of the Credit Bureau
			The Real Risk in Banking
			A Model Solution
		Financial Industry Changing Plus a Royal Commission
		Summary and Forward Projections
		Appendix
			Upheaval and Uncertainty in the Financial Services Sector
			Regulation 2016/2017
	Chapter 7: NAB (B): NAB’s Acquisition Strategy
		The Context of NAB’s International Activities
		Going Offshore
		Preparing to Go Offshore: Financial Structuring and Choice of Target
		Earlier Attempts to Move Offshore
			Rainier Bank
			Royal Bank of Scotland (RBS)
			The Strategic Journey Continued
		Due Diligence
		UK/Irish Bank Boards/People/and the Quest for High Performance
		Purchase of Yorkshire Bank—1990
			Yorkshire Bank—Post Acquisition
		Withdrawal ‘Back to Australia’
		Bank of New Zealand
			Broadbank
		Entering the US: Michigan National
			Great Western Bank
		HomeSide Purchase
			Valuing MSRs
			Managing Risk at HomeSide
			Hedging MSRs
			US Interest Rate Environment
			Extensive Due Diligence was Performed on HomeSide
			HomeSide Summary
			Failure to Detect Modelling Error
			HomeSide Lessons in Leadership and Strategy
		Concluding Comments on Overseas Expansion and Acquisition
	Chapter 8: NAB (C): Banking in Australia, NAB’s Track Record and Trajectory
		Descriptive Introduction of NAB’s Australian Operations
		NAB’s Approach to Lending and Credit Management in Australia
			John Spalvins
		Technology
		Finance and Life Insurance Subsidiaries
			Life Insurance and Investment Products
			Acquisition of MLC
			Merchant and Investment Banking
			Specialised Subsidiaries
			Savings Bank
		NAB Post 2000: Leadership, Governance and Strategy
	Chapter 9: BHP (A): ‘The Big Australian’ Overview and Strategic Roots
		Introduction and Background Context
			Mining to Steel
			Challenging Years
			Foster’s Brewing Group Ltd
			Governance
			Essington Lewis
	Chapter 10: BHP (B): Steel
		Introduction: A History of Vertical Integration
		Breaking the Frame
		Steel Operations
		Merger / DLC
	Chapter 11: BHP (C): Minerals
		BHP Minerals Strategy
			BHP Minerals Portfolio
			Mt Newman
				Mt Newman Agreement
			Mt Goldsworthy Mines
			Yandi Mine
			Port Hedland Hot Briquetted Iron (HBI) Plant
		BHP’s Performance
			Goldfields Transmission Pipeline
			Whyalla Mines
			Samarco
			Ok Tedi Mine
			Escondida Copper Mine
			San Manuel Mining Operations
			Pinto Valley Mining Operations
			Miami Unit
			Robinson Mining Limited Partnership
			BHP Tintaya SA
		BHP Smelting and Refining
			Smelting
			Refining
		Other Minerals
			BHP Titanium Minerals Pty Ltd
			Hartley Platinum
			Cannington
			Diamonds
		Market Conditions
		Export Controls
		Commodity Hedging
		Coal
		Potash
	Chapter 12: BHP (D): Petroleum
		Introduction and Context
		Northwest Shelf
	Chapter 13: BHP(E): Rejuvenation and Renovation Towards a New Century
		Introduction: The Context of Strategic Change
		Executive Remuneration and Its Governance
		Strategy and Markets
		Increased Demand from China and Impact on Supply
		BHPs Uniqueness
		What Influences the Demand for Product?
			Major Producing Countries
		Where to Compete
		‘Not for BHP Billiton’: A Key Element of Strategy
		What Were the Government’s Regulations?
	Chapter 14: BHP(F): Mergers and Acquisitions
		Introduction: Merger Processes
			Vision
			Leadership
			Growth
			Early Wins
			Culture
			Risk Management
		BHP’s Context in the New Century
		The Genesis of the DLC (Dual Listed Company)
		Nothing is Forever?
			Operational Focus and Efficiency
			Strategic Flexibility
			Optimised Release and Monetisation of Franking Credits
			Generating an Enhanced Yield for Australian Shareholders
			Enhanced Market Value
			Maximising Index Inclusion
		Board Visit to China—June 2005
		Western Mining Resources (WMC) Acquisition
		Rio Tinto
		M&A Lessons Learned
		Focused Diversification
		Brownfield Growth
		BHP Operating Model
		Further M&A Activities
	Chapter 15: BHP(G): Global Strategy and the Foreign Investment Review Board (FIRB)
		Introduction: A Challenging Context Post 2020
			FIRB Conditions
			Board Composition as at 2007
		Background: The Rio Tinto Arrangements
			Undertakings by Chinalco
			Any Future Proposals
			But Who is Chinalco?
			The Rio Tinto/Chinalco Transaction
	Chapter 16: BHP(H): Industrial Relations
		Industrial Progress?
		BHP Progression: A Journey from Difficulty to Success
	Chapter 17: BHP(I): Environment
		Environmental Challenges and Some History
		Mozal Project Profile
			The Challenges
			Mitigating Financial Risk
			Health and Safety Initiatives
				Malaria Prevention Programmes
				HIV/AIDS Programmes
				The Beluluane Public Health and Maternity Clinic
				Community Initiatives
				Relocation of Communities
				The Mozal Community Development Trust
				Educational Projects
				Community Theatre
				Public Safety
				Sports
				Culture
				Ongoing Community Interaction
				Socio-Economic Initiatives
				Workforce Training and Development
				Housing Project
				Public Infrastructure
			Mozal—Focusing on Sustainability, for the Business and the Community
	Chapter 18: Attachment 1: BHP DLC
		Transaction Information
		Australian Foreign Investment Review Board (FIRB) Conditions
		Management
		Equalisation of Economic and Voting Rights
		Rights to Assets on Insolvency
		Dividends
		Voting
		Matching Actions
		Cross Guarantees
		Takeover Provisions
		Bonus Issue
	Chapter 19: Brambles: Dual Listed Company Structures
		Introduction
		Brambles: A Growth Future Divided
		An Old Idea Made New
		The Devil in the Detail
		A Bumpy Ride, and the Story that Got Away from us
			A Complex Beast, but Not Without Some Lighter Moments
		A Means to an End
		Brambles Unification
			Background
			Unification Terms and Details
			Cost of Brambles Unification
		Chairman’s Office (DLC Letter)
		Commentary on Summary and Overview Paper
References
Index