Episode 16: The Governance Illusion; A Cottage Industry of Failure

This episode shines a light on the ineffectiveness of current corporate governance and auditing practices. The author argues that multi-billion-pound industries designed to ensure good corporate behaviour provide only an illusion of assurance. Boards of directors are portrayed as often out of touch, lacking original thought, and more concerned with personal gain than genuine oversight. The reliance on expensive consultants and the focus on superficial metrics like meeting attendance are highlighted as shortcomings. The episode also examines the failures of external auditors, who despite outrageous fee increases, frequently fail to identify impending corporate collapses. Finally, the author proposes potential solutions, such as worker representation on boards, drawing inspiration from the German co-determination model, and suggests alternative criteria for evaluating board director performance.Excerpts from ⁠Magnetic Nonsense⁠⁠: ⁠⁠A Short History of Bullshit at Work and How to Make it Go Away⁠Note: podcast generated by Google LM Notebook from the original book text.

Om Podcasten

For millions of us work feels like The Office - only less funny. We’re drowning in nonsense whilst pretending it’s all perfectly rational. Endless management fads and the soundbites of self-proclaimed gurus promise to improve everything. But they never do. It’s just more pointless and annoying bullshit. But where did all this nonsense come from? Why is it so universal? And how do we make it go away? This is the story of how we got here, why we keep falling for the same rubbish, and what we can collectively do to change our belief systems and enable a better work future for all.