The news that Dave Hartnett, the UK’s chief tax collector, has become a consultant to Deloitte, is hardly shocking because so many now pass through the revolving door. In France, when public servants cash in by taking private sector jobs, it is called pantouflage. In Japan, it is amakudari (“descent from heaven”); and, in the US, it is normal.
European Union commissioner Michel Barnier’s proposals for tough new rules for audit firms have the Big Four professional services firms in a lather.
As the specialist journal Accountancy Age puts it:
Big Four interests are most threatened by Barnier’s proposals. At their size, they will cop the full force of regulation completely separating audit and non-audit services, potentially compelling them to split and trampling on their business model.
Most strategy gurus accept that companies should focus their efforts on core products and not get distracted by peripheral ideas or brand extension. Even Google focuses most of its engineers’ time on its core search technology.
But what if it’s wrong, and companies should focus more on the periphery than the core, putting their most talented people to work on the edge of organisations and giving them the most resources? Read more