Introduction  Fintech is the latest expression which defines the way the financial services sector embraces digital technology. At the very top of the current money chain, Banks, Insurance Companies and pension funds rule the conventional currency roost. Add in a mix of regional and international regulators then currently financial services are pretty well tied up, despite horror stories and inappropriate behaviour Financial Institutions have been much the same for a long period of time.  The fourth industrial revolution will see a return to the democratisation of money or maybe it will be the monetisation of democracy. I enrolled on the course because I wanted to find out more about the latest development in Fintech ranging from new crypto currencies to ways in which delivery of traditional finance services could be enhanced by technology. The bottom line is that costs of digitisation at every level, including SMEs are either coming down or being forced on small businesses simply to keep up with the economic environment    The outlook for the Fintech giants seems assured, but how can innovations in fin tech disturb the existing elitism and the desire to maintain the regulatory status quo regionally and internationally through the current structures of the law and compliance. Are the new crypto currencies merely a repetition of the old barter economy and we are talking about new beaver pelts or cowrie shells.My thinking suggests that fintechs will materially change the basis of competition in financial services, but have not shifted the power to the people. I am reminded about stewardship and agency theory and the role of banks in maintaining that they are better at managing money than their customers. That remains to be seen, Digitisation has democratised some financial transactions, the emergence of bitcoins and block chains appears to eliminate banks and other intermediaries and regulation is now by crowd rather than by statute.   People have been forecasting the demise of money for a long time or even  return to a moneyless state as enjoyed by the Incas or as supposed to be under Communism. According to Niall Ferguson (1) Money has to be affordable, durable, fungible, portable and reliable, with it he may have added it also has to comply with the prevailing rules and regulations in the society in which it operates . This, then, is at the heart of the Fintech revolution and whether these new technologies and media of exchange can ‘disrupt’ or at least replace the traditional ways we have done business for centuries. It is interesting to note that we still hold value in ledgers and accounting so traceability appears to also rear it’s head in this discussion.  I am reminded of a play when I ask the question. ‘So whose money is it anyway? (2)  Why I enrolled    What do I intend to get out of the course  Streaming  Definition of ‘journey’  Learning styles  Discussion with skilled experts in their own field through quality teaching and reputation of College  Personal style    Appendices   1 Ferguson, Niall, ‘ the Ascent of Money’ Allen Lane 2008  2 *Benedictus, David. Whose Life is it Anyway? (1982, from the play by Brian Clark)  

I have written before about how MBAs have been thought to have been responsible for corporate collapses.  There is nothing wrong about holding MBAs to account as they are probably in senior positions and should know better.  Quite often the real reason for failure can be invisible from the outside and are deeply rooted in company culture.  The Chinese proverb about the Fish and rotting from the head  springs to mind, but an MBA may come into an organisation that has already has a culture that has been developed from previous heads, so although the metaphor may be true, there may be deep rooted cultural issues that merely replacing the head cannot solve and, to mix metaphors ,the cultural tail may wag the leadership dog.  An MBA coming into a new post in a position of power may find out behaviours they were not told about at interview, or indeed did not spot on their due diligence.  These behaviour may include  Arrogance – there is only one way of doing things (Andersons)  Bullet proofing- companies are convinced of their own superiority  (Enron)  Innovation- or rather lack of it ( Motorola/Kodak)  Over competitiveness and obsessions with growth and bottom line return (Tesco)  The most insidious kind of culture is perhaps the most threatening and the most human- lack of care  To paraphrase a Clinton saying ‘Its the people stupid’  Staff merely show up and collect their pay, they lack direction and simply don’t know why they are doing this, their service levels to themselves, their colleagues and their customers simply tail off. At worst this toxic behaviour breeds cynicism and drives good people away just leaving waste and incompetence  When an MBA is taking the dream job, part of the due diligence may be actually to walk round the organisation and look for signs of this culture, only then will they know the extent of the job in hand and the first 100 days may just be simply taken up with changing this behaviour and get the fish swimming in the right direction with a smile on its face (do fish smile?). I have worked with a lot of CEOs ( some even had MBA qualifications) in my experience the ones that have the emotional intelligence to spot and change this behaviour  are the more successful. 

I read with interest that many MBAs want to work for top level consultancy firms such a PWC or McKinsey and that many MBAs would be happy to gain experience with these large international corporations.  In some respects , working with these companies can bring enormous benefits to an MBA qualification and there is o doubt that they have some very able people working for them.  Consultancy is a very rewarding career and I know from personal experience how incredibly useful and valuable to the organisations such roles can be..  I would , however like to see more involvement with clients and that consultancy is just not a ‘one off’ assignment  and not just about grand ideas of strategy, corporate governance or how a board should conduct itself, but looking at the micro level and involving a mentoring and advising role with management, not only using model frameworks such as McKinsey’s time horizons, but also using an MBAs own individual experience at work to add value over and above  what their employer has to offer.   Now there is a debate about the MBA qualification and how valuable pre study work experience is and that potential MBA students should have at least held some form of employment so that when they do eventually study they have at least some experience they can relate to when they get information from the classroom.  Potential MBA students should therefore think long and hard about the timing of their studies.  The danger here is that they come through the educational system and straight into an MBA qualification and end up working for a consultant, so living in a highly educated and constrained bubble might be good for their Consultant employer, but long term career management might be better off if they had held down a series of business posts before they undertook an MBA.  I think therefore the personal choice of timing and how you view an MBA qualification is crucial. If you want to become an Entrepreneur, you may decide to avoid this ‘consultancy’ route completely and throw yourself in at the deep end post qualification.  Or you may decide that the consultancy route is a way of ensuring you get sufficient CPD after qualification which prepares you for the bigger adventure of doing it yourself. Either way can work, it all depends on your career plan. The message here is that, for all the technical expertise that an MBA qualification can give you, at some stage you are going to expose yourself to business issues which may be messier than a classroom case study, so be prepared to get your hands dirty either on your own account or with other business colleagues. At some stage in your career you may decide to put all your qualifications and consultancy experiences to the test, – now that is scary  When are you going to make that leap of faith? 

Sections 1  Only if he is allowed to, conversations with Chairman/CEO and FD take place on a daily basis at the sharp end, more cerebral thought happens outside of ‘Strategy meetings’ or ‘away days’  . Lot depends on the closeness of the tripartite relationship and the profile of the Finance Director/Finance function in the business.  Some CEOs see the FD as the smiling assassin, others see the FD as a key business partner and has a degree of autonomy over it’s remit. It is all down to how the CEO views the FD and the FD’s own comfort/ability  in acting the role of pantomime villain or strategic partner.  Takes a resource based view of the firm and adds that perspective in decision making , should work closely with HR personnel to actually ascertain capabilities of key personnel and their ability to think strategically and understand/lead the business in that direction.  Needs to have a joined up approach with Risk , but not at to the extent that Risk aversion is higher up the agenda than is necessary and disproportionate effort expended into managing  remote risk.  Should not use the excuse of managing risk at the expense of decision making- Risk paralysis becomes contagious then at all levels, especially where there are heavy political undercurrents and possibly power struggles between the CEO and the FD. FD preaching inertia or inaction until more data is found that justifies a change in direction. Have to learn to develop strategy with less than perfect information.    This is also about the ability of the CFO to gather the right data  aka business intelligence and managing the wealth of data available AKA a reliable, timely and accurate MIS  Section 2  Should work closely with colleagues at all levels, this comes from the ‘ business partner’ school of thought.  S/He should be capable of raising awareness of bottlenecks/obstacles at operational level that get in the way of implementing the strategy, overcoming these hurdles and easing capacity restrictions.   Depending on the agenda, the skill of the CFO/FD is to garner data and support to either rationalise the current strategy ( as opposed to post hoc rationalising) and align the resources to it, or synthesise data and resources to change to a different strategy  e.g go from one state to another  .  Four strategic states   1 an emergent strategy ( making it up as you go along) -bit seat of pants  2 a market moving strategy ( think Apple and IPads -this is the product you need)   3 a reactive strategy- how fast can we move if we want to and what are our  ( pre planned?) reactions? (Usually called a Risk mitigation strategy)  4 an inertial strategy in that we simply sit out any economic storm and cut costs as a first response rather than increase revenue. Only going back in the water when it is safe to do so ( Highly Risk averse strategy)- This is the one most FDs are comfortable with.   It really depends on how much thinking time the FD has ( or indeed his own ability to think because the CEO may just want a bookkeeper and not a ‘strategic thinker’ – see section 1 above   probably needs to have a peripatetic mindset, or actively look to hold court periodically to assess progress/measure or change milestones. .  needs to have collaborative working with IT/HR/Marketing etc.   Creating capacity which also includes capital investment ( especially IT)  perhaps also greater external focus with stakeholders and use of open book/cloud based technology to have clear supply chain information and verify big data .  Section3   Functions of   in short . what are the key drivers for change and the question of whose money is it you are playing with? Stakeholder v Agency theory  Section 4  The value of strategic frameworks and tools  It depends on size and complexity of the organisation. Complex organisations with lots of revenue streams find it difficult to keep all plates spinning as a result of spreading risk and traditionally having alternative sources of income where one fails..Compare this with one source of income only and the different Risk scenarios attached to each circumstance.  Also size is important. Does the CEO/Board actually know what is happening in the trenches?  Depends how the CEO/organisation learns, some CEOs are highly ‘model’ literate, others prefer to work on a blank piece of paper and make it up as you go along. The CFO would prefer some form of battle line or plan, some CEOs don’t recognise borders.  In a borderless strategy CFOs get uncomfortable because they don’t always understand the message and have to revert back to the Board very often for guidance which is frustrating for both the CFO and the Board. This is where CFOs lose their way ( and job) because they cannot work in a vacuum which is antithetical to their training and the expectation that goes with the role of being a ‘safe pair of hands’  Section 5  Depends on capability of CFO  Communicative/ engage/ assimilate and decide… but only if you are able to or allowed to   read the Politics and the prevailing winds. Question of Power and influence.   build Trust with the CEO ( see Section 6)   Section 6  I think the important point for CFOs is to understand that organisation strategy has a Social Contract perspective  ( what we might call ‘buy in’) and it’s roots may even go back as far as a basic philosophy. People move away from pain and try and attain pleasure.   Strategists therefore want to avoid losses, eliminate risk and move towards sustainable businesses   Some philosophical business leaders have taken this literally and act in such  a way that businesses take risk and loss aversion to extremes and therefore would want to attain profits at all costs- the extreme shareholder value model, even at the expense of longer term investment and sustainable business models.   This position of short term shareholder value underpinned many strategies for a  considerable period of time and sustainability

Singularity Ghost in machine mind body dualism Consciousness soul   Artificial intelligence  Override laws  Random segments of code leading to irrationality and illogical behaviour  Three laws  Turing test   Stochastic  language  A robot may not injure a human being or, through inaction, allow a human being to come to harm. A robot must obey orders given it by human beings except where such orders would conflict with the First Law. A robot must protect its own existence as long as such protection does not conflict with the First or Second Law  0. A robot may not harm humanity, or, by inaction, allow humanity to come to harm.  “The main issue I expect to be important for humanity is not the moral regulation of a large number of semi-smart humanoid robots, but the eventual development of advanced forms of artificial intelligence (whether embodied or not) that function at far greater than human levels,” Helm told io9. “This development of superintelligence is a filter that humanity has to pass through eventually. That’s why developing a safety strategy for this transition is so important. I guess I see it as largely irrelevant that robots, androids, or ’emulations’ may exists for a decade or two before humans have to deal with the real problem of developing machine ethics for superintelligence.”  And most AI developers are ethical people, so they will avoid creating what philosophers would refer to as a ‘beings of moral significance.’ Especially when they could just as easily create advanced thinking machines that don’t have that inherent ethical liability 

Introduction  One of the latest management phrases is Resilience which has moved the topic of sustainability along from simply surviving to being able to counter or spring back from circumstances that were not foreseen.  To some extent this has it’s roots in ancient philosophy as it is not so much about events themselves, but rather the reaction to events, again a deeper notion is about worry or control. A modern day CEO cannot possibly control every part of the external business environment and cannot possibly predict how things will turn out. What the CEO can do is plan and control the reaction of the business to events to which may or may not happen.  This is the basis for a lot of modern day tools and techniques ranging from Strategic budgetary planning, Risk Registers, KPIs ,disaster recovery plans and scenario planning.  Again, nothing new under the sun and again, it is not only the event that the ‘what if scenario’ comes true but also way the firm reacts to the event either on a planned (preferably) or unplanned basis. Either way has the firm developed enough resilience to cope with the change and re allocate its resources accordingly?  To a large extent it depends also on size , larger firms can have a more direct impact on the environment and set the strategy and markets will emerge, smaller firms may actually sit and wait for the change and then react, some firms, irrespective of size may merely do nothing and ride out the storm whatever happens.  When it comes to resilience, contemplating the view from above at the strategic level is a good place to start.    A CEO with a view  This very much depends on the CEOs own internal perspective and how  decision making  is done and compromises can be made .  One of the most commonplace practices is taking a view from above to put current problems in perspective , this can  be done by placing the current issue literally in perspective in the general economic environment and also looking at the time issue and whether actually doing anything may help or the problem may just disappear over time via self resolution ( not to be confused with procrastination). By contemplating the scale of the issue it could actually pale into insignificance in the broader context of what the firm is actually trying to achieve, so to some extent another phrase that springs to mind is ‘don’t sweat the small stuff’ Not because it is insignificant in itself but because it is insignificant when taken with all the other issues the firm faces and if there is a resource to be allocated, it needs allocating in support of the bigger picture.  A CEO with control  Where resilience is concerned a sense of perspective is also useful about control and how much value we can put on non controllable and controllable events. There is not much a CEO can do about that Asteroid that will one day hit earth, so this non controllable event is simply not worth worrying about, however , a price rise by a supplier is.  A CEO will have a view, which will be transformed into a vision which requires allocation of resources at every level to achieve the overall goal and the subordinate goals along the way, there will be checks, balances and alternative solutions to events which are controllable by the firm in reaction to non controllable, but actionable events.  A CEO will have to understand what is and is not controllable and will have contingency plans in place to ensure that there is in built resilience to the business in response to these external stimuli.  A CEO  with control accepts that success or failure isn’t entirely within their control but actually focuses resources on what can be controlled to maximise resilience and minimise adverse organisational reactions   A CEO with reactions  If this section seems like a return to Stoicism, in some respects it is as Stoics themselves were concerned with concepts such as loss, underperformance so the concept is quite old. Resilience is not just about bouncing back to a steady state or where you were before it is also about re arranging the resources you have to get to a place which is more resilient than it was before so that if the event happens again, you are better prepared at least for having already experienced it. If the same event recurs it becomes the new ‘normal’ and the firm continues. A reactionary CEO, or indeed a CEO with reactions knows instinctively that every experiences is a lesson and Resilience means acting or reacting in accordance with the organisational values and in accordance with what the organisation values. However, Stoicism in extremis is not about passive acceptance of everything life or business throws at you (on the basis that, in essence there is little you can control other than your belief system) Stoicism is more of a coping and adaptive mechanism and a way to modify your worst extremes of behaviour to arrive at a way that works around the obstacles that have been presented. It is quite the opposite of a passive approach and resignation it is a dispassionate look at alternatives and ways of doing things which solve the problem in a way that the CEO can remain true to their own belief system and the values embedded in the business. This is sometimes known as a common sense approach to decision making  A CEO with common sense  Here are a few observations  A CEO can only control the controllable  The Actions (and reactions)  of a business are controllable   Anything else is uncontrollable   Confusion, dis-ease, pain and blame arises from attempting to control the uncontrollable  Resilience occurs when you differentiate between controllable and uncontrollable and manage to avoid any unpleasant uncontrollables  Lack of resilience (vulnerability) occurs when you direct resources into pursuing the uncontrollable and not achieving your desired result which leads to anger and frustration  Resilience can

Akratic Accounting for Procrastination  Introduction  We have all been there, put off something until tomorrow and tomorrow, as we know never comes, so those little tasks like reconciling some control accounts don’t get done until absolutely necessary and at the eleventh hour leading to short cut and short term solutions and frustrations at our own sub optimal decision making and criticism of our performance. But do we have ourselves to blame,   In this Article I explore some of the nuances of procrastination, it is not all negative by any means and this habit like any other trait of a decision maker has some upside  Rational thinking- why delay?   Some Accountants are habitual procrastinators by choice because putting yourself under pressure with a ticking deadline is thought a good way of maintaining peak performance. Recent research has shown that this habit impinges on your wellbeing as it inevitably lead to short cuts and inadequate work.  However such delay does not constitute procrastination unless it is deliberately irrational. If an Accountant is faced with making an estimate rather than waiting for the actual figure then this patience is rational.  Similarly, Academics may have a default position when asked a question and they respond by saying they need to do more research, again a rational reason for delay.  Procrastination in its irrational sense is about perception. In the judgement of the Accountant, delaying may elicit better information unfortunately the pressure of producing monthly accounts means that at some point the trade-off between accuracy and timeliness dictates that information has to be produced sooner than later. Producing it later may not be an. No sooner have we closed the ledger for one month when the next month’s transactions are mounting up. Sometimes this means acting against one’s better judgement because the deadline is looming. The Greeks called this Akrasia. When a CEO asks for information before it is ‘ready’ (in the accountants mind) then failure to provide it brings out perceptions of procrastination or just plain unhelpfulness. The reason for the delay is simply a rational wish to seek out better quality information.  Putting it bluntly , you may decide not to commit to anything and leave the dorr open for that golden opportunity that is bound to come along so you don’t want to over commit. When the opportunity doesn’t arise, yu decide to take the original course of action. This is rational.  It may be simply that in the event of such requests and in the knowledge that information or output may be subjective and open to misinterpretation then procrastination is more about prudence (or lack of) rather than deliberate neglect.  Discounting procrastination  Accountants will recognise the discounting principles in valuing immediate worth (information) with future worth (which may be more reliable information) , the implicit time value of decision making is therefore a cause  and a pause for thought. The difference between the net present values of information from a CEOs perspective to that of an FD may well give, again, impressions of unhelpfulness. It is this lack of planning that gets confused with procrastination, If there is a strict timetable for producing figures then bringing forward dates for delivery will just further exacerbate the impression of ill preparedness and procrastination. The antidote to this is merely changing timeframes and thinking.  However, there are personal differences on reward issues and waiting for results. The Marshmallow test proves this that there can be advantages for delay, but even when you know this you might  trade off an instant reward because you have discounted severely the impact of waiting for an extra marshmallow. This then adds an impulsive layer onto the notion of procrastination because procrastination becomes something to avoid if it leads to immediate pleasure, so we are into pain v pleasure territory. The thinking behind procrastination then moves into more definite issues such as, if not now, then when.  You can put matters off until tomorrow provided you actually do it within 24 hours and not repeatedly put things off until the next tomorrow. That is why we work to deadlines.  What happens occasionally is that Accountants draw up some credible excuse as to why figures can’t be produced or put that many caveats to them that they become meaningless, this is another form of procrastination and paying lip service to deadlines. However this is also about task and priority management, some things will have to wait until tomorrow because there are only so many hours in a day, so task management is also key and disposing of distractions is also a pre requisite to eliminating indecision. Procrastination therefore may be simply a function of discounting future reward to be worth more than immediate action.  There is a school of thought that people would prefer small gains  now rather than wait for the larger gains because of the effort involved especially when we talk about the avoidance of compulsive consumption  i.e quitting smoking , or starting that diet tomorrow, again,   In Economic jargon this is discounting  future benefits to their present utility. The problem with this excursion into utility theory is that people’s utility differ and that forms the basis of a perception of procrastination.  Effort and weakness  When exploring these concepts and linking them to procrastination, inevitably the question of motivation and willingness crops up. Procrastination is not necessarily indecision, more of a rational process of selection of alternatives, therefore it is not necessarily a weakness of thought but maybe something more corporeal and to do with sheer effort (of will). When we talk of task management and allotting time to key pieces of work, invariably the tasks that are hardest or require an effort of learning may not get the priority they deserve, because there is a need for ‘quick wins’ or to ‘pick low hanging fruit’ Procrastination in it’s purest sense is not doing anything, obviously taking no effort or thinking time, however sifting through alternatives and discounting them into some form of order or priority requires

Whilst this may be a catchy title, it is, in essence the traditional Finance conundrum of lease of buy, or the cost/ benefit analysis of ownership..  Introduction    The future of personal transport needs a paradigm shift from the car being an aspirational symbol to mobility as a service.  This is in line with what sociologists may call ‘Millennial thinking’  -put simply there is a move away from straightforward ownership and the responsibilities of insurance and maintenance into a more consumer friendly approach to having pay as you go services. Brands are now fast turning themselves into subscription products and services as Consumers become more comfortable with the subscription experience, something driven by the likes of Amazon Prime, Netflix, Spotify, etc but also upstarts like Graze or Dollar Shave Club   There are benefits of moving consumers to a pay as you go model. The analysis of big data and spending habits can give added value to the product and being flexible to change without too much effort knowing that the service provider can provide an upgraded vehicle if, for example you want to go on holiday and need a bit more room.   The prevailing mood against emissions, traffic density and the threat to global warming also means a move towards greener cars and much more thoughtful utilisation.   The future therefore involves more eco-friendly vehicles and shared ownership, This is a real opportunity for the automotive industry to embrace the fourth ( digital ) revolution and improve mobility and quality of life all round. All is not lost in the world of finance (or insurance) as these services will still be required, albeit delivered in a different form. Manufacturers need to embrace the concept of ‘Servitisation’  The Drivers for Change    The benefits for connected vehicles and a cooler planet are obvious, but to achieve these laudable aims, a further initiative is required to bring together various strands within the automotive sector.  Using technology to find the most efficient route is already well tested, this coupled with real time traffic updates means less miles travelled and less time wasted. Add the ability for passengers to ‘ change their minds’ and deviate from pre- programmed routes, then driverless cars will happen. The danger with this approach is that it is an all or nothing situation. If you want truly connected vehicles then you need connected roads, smart motorways, digital HGVs, automated cyclists and even connected pets, so that the algorithms can identify and predict these ([potential) hazards  City Centre parking may be a thing of the past as , once empty, the vehicle finds itself an out of town parking place, recharge it’s batteries and be readily available when you want picking up, leading to even less congestion.  There are several variations on this theme.   We have seen in the automotive sector a real shift from Finance providers selling HP or lease purchases to more personal contract plans and longer-term car rental options. With the speed of obsolescence, the trend is not to lock yourself into three-year leasing deals, but rather find a product with a flexible length and also the opportunity to upgrade/ change vehicle as time and needs change. What we have seen in recent times in the Car Finance world is a move towards a more personalised finance product for the consumer and not the vehicle, although Finance houses still look to the vehicle and it’s equity for security.   Looking further into the future, blockchains and peer to peer transactions will eliminate financial intermediaries such as finance companies or banks. Provided the technology is secure, the use of blockchains and bitcoins will allow owners to directly rent out their vehicles under terms and conditions they set themselves. Any person with access to mobility can adapt a car share approach without too many barriers to entry, setting terms and conditions as they see fit   This can also be beneficial as a way of securing payment for incidental trip charges such as toll roads, recharging stations and parking lots. This can also ensure that there is scrutiny of each user to carry proof of identity, age, insurance coverage and ability to pay.. There will have to be some checks and balances in this system to ensure regulatory compliance, e.g for tax recording but such issues are not insurmountable  Manufacturers are hoping for commercial sales of fully autonomous cars by 2020, Tesla has already announced plans to allow owners to hire their cars to a common autonomous fleet when not in use. This should produce revenue offsetting the initial cost of the vehicle. This is akin to car clubs in the UK and the US, but the ownership model still divests itself in individuals. This will probably be a transitional stage in ownership, but it shows a move towards manufacturers perhaps being unable to sell the Capital in the vehicle to the consumer, who is preferring a subscription based service.   The future is to have ‘economic’ vehicles and minimise costs to access.  This will also entail vehicles having detailed cost benefit analyses and real time information which leads to better utilisation and minimisation of running costs.  As we head into the future new models of ownership will evolve. Not only will mobility be a service, but it will be a ‘monetised ‘service not exclusively limited to the manufacturer or traditional lender.  In short the notion of ‘ access rights’ comes into play. So, who has access to the Car is one part of the supply chain, and the payment for such rights can also be achieved either by parting with cash or using digital means for payment. This has serious ramifications for manufacturers. Who wants to ‘own ‘ a driverless car?   If we accept that the car is no longer a status symbol and the fact that access to finance and outright car ownership is still smarting from the last liquidity crisis, why would anyone want to own so much metal. Manufacturers need capital to make the vehicle and it may well be

Introduction  People feel pressure, a small amount and coming out of your comfort zone is no bad thing, continually feeling out of your comfort zone, under stress and incapable of making decisions is a sign of too much stress which can have long term mental health issues. Promoting positive behaviour and happiness is the other side of the coin. The B school that gives a ‘balanced approach ‘ to it’s teachings is one that can develop rational and sound leaders who make decisions from a perspective of positivity rather than negative and short term  thinking. That is why B schools that promote personal development and take time for the student to know themselves better succeed in churning out ‘ better’ MBA graduates who can cope under pressure   One of the latest management phrases is Resilience which has moved the topic of sustainability along from simply surviving to being able to counter or spring back from circumstances that were not foreseen. The ability to cope with pressure of delivery, performance and simple survival is  a sign of corporate and personal Resilience  To some extent this has it’s roots in ancient philosophy as it is not so much about events themselves, but rather the reaction to events, again a deeper notion is about worry or control. A modern day MBA student cannot possibly know every part of the external business environment and cannot possibly predict how things will turn out. What the a B school teaches gives an MBA are tools and personal behaviours in business school is around recording, planning and controlling the reaction of the  themselves and their organization to events to which may or may not happen.  This is the basis for a lot of modern day business techniques ranging from Strategic budgetary planning, Risk Registers, KPIs ,disaster recovery plans and scenario planning.  Again, nothing new under the sun and again, it is not only the event that the ‘what if scenario’ comes true but also way the MBA student or firm reacts to the event either on a planned (preferably) or unplanned basis. Either way has the MBA student developed enough resilience to cope with the change and adapt their behavior accordingly. Failure to adapt causes dis – ease and stress inevitably developes accordingly?  To a large extent it depends also on size ,  an MBA in a larger firm can have a more direct impact on the environment and set the strategy and markets will emerge, smaller firms may actually sit and wait for the change and then react, some firms, irrespective of size may merely do nothing and ride out the storm whatever happens.  When it comes to resilience, contemplating the view from a personal level and what causes stress in individuals is a good place to start. The B school that places high importance on personal development as part of their MBA curriculum is recognizing that stress and discomfort is partly a mixture of inexperience, lack of knowledge and a gap in personal understanding of behavior when confronted by the unknown.  Stress free leadership  This very much depends on the individuals own internal perspective and how decision making is done and compromises made .  One of the most commonplace practices is taking a view from above to put current problems in context, this can be done by placing the current issue literally in perspective in the general economic environment and also looking at the time issue and whether actually doing anything may help or the problem may just disappear over time via self-resolution ( not to be confused with procrastination). By contemplating the scale of the issue it could actually pale into insignificance in the broader context of what the firm is actually trying to achieve, so to some extent another phrase that springs to mind is ‘don’t sweat the small stuff’ Not because it is insignificant in itself but because it is insignificant when taken with all the other issues the firm faces and if there is a resource to be allocated, it needs allocating in support of the bigger picture. B schools therefore can provided insight and knowledge whereby problems can be put into perspective.  Where resilience is concerned a sense of perspective is also useful about control and how much value we can put on non-controllable and controllable events. There is not much the MBA can do about that Asteroid that will one day hit earth, so this non-controllable event is simply not worth worrying about, however, a price rise by a supplier is.  An MBA can allocate resources at every level to achieve the overall goal and the subordinate goals along the way, there will be checks, balances and alternative solutions to events which are controllable by the firm in reaction to non-controllable, but actionable events.  The stress free MBA student with this perspective on control accepts that success or failure isn’t entirely within their control but actually focuses resources on what can be controlled to maximize resilience and minimize adverse organizational reactions. In short recognizing what is possible and develop an appropriate response..   The MBA response ( apart from ‘it depends’)  Relieving stress is not just about bouncing back to a steady state or where you were before it is also about re arranging the resources you have to get to a place which is more resilient than it was before so that if the event happens again, you are better prepared at least for having already experienced it. If the same event recurs it becomes the new ‘normal’ and then life carries on. A reactionary MBA student, or indeed the MBA with reactions knows instinctively that every experience is a lesson and Resilience means acting or reacting in accordance with the organizational values and in accordance with what personally they are comfortable with. However, de stressing is not about passive acceptance of everything life or business throws at you (on the basis that, in essence there is little you can control other than your belief system) . Mental

Mental health is how we think, feel and behave, it manifests itself in various forms and is different in each individual ranging from general uncomfortableness, feelings of dis-ease, depression and anxiety. This can lead to unnecessary worry, extreme sadness, despair and feelings of inadequacy and sates of ‘learned helplessness’   Most business people will experience these symptoms as part of their everyday life, either through their dealings in the business world, or perhaps through family matters. Mostly we maintain a sense of proportion, cope and pull ourselves together, however, continual feelings of despair or lack of focus can lead to poor decision making and short termism. When we are into this territory we end up in a spiral of negativity which takes us into a darker landscape.  Anxiety and depression are the most common mental health problems. The trigger for these can often be one event such as moving house, bereavement, or redundancy.  In this country, you can take a short test with your GP to see how serious your anxiety or depression levels have become, in severe cases. there are forms of medication or indeed specialists in psychological support.   Work related stress and mental health often go together. Changes in behaviour are varied leading from loss of appetite/over eating/aggressive or passive behaviour. No one sign is a key indicator.  Work related stress may also trigger an existing mental health problem that the person may otherwise have successfully managed without letting it affect their work. People’s mental health states vary from individual, and effect individuals differently, high blood pressure may manifest itself without that person displaying signs of anxiety or depression so there can also be physical manifestations of stress as well as mental.  It is easier to treat the physical signs as we can have metrics that show progress, blood pressure can be medically lowered. As yet we don’t understand fully the workings of the brain so we don’t know which neural pathways or parts of the brain  can be measured to test our mental well being.    Stress at work is a reaction to events or experiences at work. Organisations can manage and prevent stress by improving conditions at work. Doctors usually treat common non-work related mental health issues by prescribing medication. However, adjustments in the work place, rescheduling hours, having windows open, access to air conditioning, removal of ‘toxic employees’  etc may assist that person to perform better   Some stress is useful, deadlines concentrate the mind and reporting performances can be motivational, in practice, it can be hard to distinguish when ‘stress’ turns into a ‘mental health problem’ and when existing mental health problems become exaggerated by stress at work.  Many of the symptoms[1] are similar to those that people experience when they are under considerable pressure; the key differences are in the severity and duration of the symptoms and the impact they have on someone’s everyday life.  Usually a GP or occupational therapist will make the diagnosis and offer treatment e.g. medication, talking therapies or a combination of both. The majority of people with mental health problems are treated by their GP and most are capable of continuing to work productively. Evidence shows that continuing to work and being productive can be of great benefit, both to the employer and to the employee. In many respects, it is not the life changing experience that is the trigger, it is more how that person responds. So, behaviour changes or changes to their thoughts, and how they view the world, whilst not always easy to spot, are early warning signs that mental health is becoming an issue. Colloquial phrases such as ‘duvet days’, ‘doing my head in’, ‘whatever’, ‘pulling a sickie’ etc may be the first sign of danger which can be difficult to spot or take seriously when they are perhaps used as a humour tool to prove a point. Persistent use of these phrases may be a cause for alarm. Other signs may also be lack of sleep or substance abuse which in itself is pouring oil on already troubled waters.   Going back to the title, a holistic approach to managing one’s mental health also incorporates diet and exercise as well as a healthy respect for sleep. There is a saying that ‘you are what you eat’ so care with dieting is paramount and also research has shown that connecting with nature has also beneficial effects on our well-being. Taking a stroll in the local park may be a good alternative to a fag break. Although these ideas are a recipe for a healthy body, and by consequence a healthy mind, there is a lot of groundwork to be done to educate children and later adults in learning about the benefits of self-control and discipline in what we eat and do. We still see examples of heavy smoking, binge drinking and drug abuse, all with long term consequences.   Perhaps B schools should look at mental health as part of their research into how leaders make decisions and there is a wealth of information about how happiness affects our ability to cope with pressure. A quick internet search on ‘life coaches’ will reveal a whole industry dedicated to positivity and mentoring. There is no shame in asking for help, or second opinion on decisions that a leader makes, what requires improvement is some form of self-help checklist that asks whether this decision is rational and consistent with their own values and behaviours. This is where  Cognitive Behavioural Therapy comes into the framework for self-management.  We are only just beginning to understand the dual function processing in the human brain which has become a more popular idea in recent times, previously we would have had discussions about ‘having a conscience’. When the conscious and subconscious processes are at variance, this is when stress and mental health becomes an issue because it is a question of how that individual deals with their own inner conflict.  Business leaders have also a dual role in manging the resources at their disposal which