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June 9, 2009
Asked about capturing more than 30 years of business experience in a possible autobiography, David Gonski AC FAICD candidly responded, "the book would focus less on the people I've met in business, and more on the people I've met outside of it because they have been absolutely inspiring." With this concluding remark, Gonski's peers - many of whom were present at what was the first NSW luncheon of 2009 - left to contemplate not only his five lessons learned from 2008, but whether their lives beyond business are as rewarding.
A survivor of five financial crises to date, Gonski lamented that his lessons were hardly new; in fact they could be a stand alone chiding on the abandonment of common sense.
"It is not new to learn that one cannot predict the future", he said. Nor is it particularly groundbreaking to learn financial complexity often leads us down a path far from which we started; or that borrowing large sums of money to buy shares in other companies that have themselves borrowed large sums breaches the old laws of leveraging.
Is it news that the weight of public scrutiny will bear down on executive remuneration with all its force until big business realises short term compensation for long term goals doesn't quite add up? Hardly.
In these times, the inspired thinking which energises Gonski centres on creativity. This is what he seeks to galvanise and his challenge to corporate Australia is to think creatively when it comes to business and their communities ...
Article courtesy of NSW Director, quarterly newsletter of the NSW Division of The Australian Institute of Company Directors.