The second response centres around an adaption of an old solution

Reactions on how to solve the financial crisis of 2008/2009 produced no real, innovative solutions – just Rosetta Stone Software more of the same. Most of the proposals aimed at solving the dilemmas caused by the crisis can be reduced to two basic solutions, the first being more rules, better rules and new rules, to control those now being identified as having been primarily responsible. The second response centres around an adaption of an old solution used in the past when things went wrong, namely to fix the incentives. The reality is that in a free-market system with democratic practices it is not possible to control complex adaptive systems – not with rules or with incentives. Winston Churchill once said: “It is not enough that we do our best, sometimes we need to do what’s required.” We Rosetta Stone Language need to seek solutions at a higher level of complexity. The following principles can be helpful in guiding our search for new practices that will produce systemic and sustainable business performance for the long term:- Normative governance. Rules, regulations and policies have a place when it comes to enabling certainty, and exercising control and governance. This is, however, not sufficient to ensure ethical and values-based decision making. An organisational values statement, as an integral part of its aspirational descriptions, is already a prominent feature in most organisations where strategising is practised. When the organisational value system has been relegated to posters and image-building tools, however, it is misused as just another form of rules. Organisational values need to be revitalised to become the central, normative guidelines in all of the firm’s decision-making processes. In this way, normative values need Rosetta Stone Hindi to become the highest form of corporate governance.- Contextual sensitivity. Organisations operate in a specific context, which means that the ‘truth’ of one organisation is not the ‘cure’ for another.