Entrepreneur School

Here's an interesting article from BusinessWeek online: "Can Entrepreneurship Be Taught?" The conclusion from the research is that while entrepreneurship really must be learned through practice, there are three elements that can be taught to enhance an entrepreneur's success: business knowledge, general entrepreneurship principles, and being alert to opportunities. Check out the article for more information.

Women in the Board Room

More from BusinessWeek -

A new report shows that women directors earn higher compensation than their male counterparts. The headline says "Surprise!", but anyone who understands supply and demand theory isn't surprised at all. Women corporate directors are a precious commodity, so it makes sense that their diverse viewpoints are well-appreciated.

If your board wants to diversify, there are several ways to find talented candidates. BoardRecruiting.com is one I personally recommend (yes, I am a member!).

Be a Good Boss

Because many people who read this blog are managers, I wanted to bring this to your attention: BusinessWeek Online has a slideshow called "Bosses We Love," highlighting the good traits that even not-so-good managers have. It wouldn't hurt to review these traits, pat yourself on the back for what you do well, and then decide how you can work on the areas in which you need to improve.

Happy Thanksgiving!

Advice for Companies Facing a Government Probe

An ex-federal prosecutor gave a talk to the Georgia Association of Corporate Counsel, asking all-important questions about how to avoid government probes, and how to avoid fallout if one is initiated. Don’t you wish you were there? Well, this article sums up his comments.

Some of the best advice:

• Have an effective compliance system in place.
• If you're in a large corporation, your compliance department should be separate from your legal department.
• Know the rules and law in advance - learning after you get a letter from the DOJ is too late.
• Don't consent and don't give up your right to counsel.
• But don't be too tough - be friendly and helpful to the investigators.
• Never, ever lie.
• Keep documents - they're the best witnesses.

As you can undoubtedly see from the advice above, this is solid reading for upper management and board members as well.

Business Strategy

What exactly is business strategy? I've been wondering as I read through courses offered in various MBA programs. I am wavering between picturing a chessboard and imagining a high-powered M&A deal.

Apparently I'm not the only one who isn't sure. Demystifying Strategy: The What, Who, How, and Why can be found on Business Week online from Harvard Business. This is a fascinating article for any corporate attorney, executive, or executive-in-the-making (like me!) on what business strategy is and is not.