The Changing Business Environment

coping with the credit crunch
and other emerging issues

26 September 2008 • LONDON

FEE £560 +VAT (£658.00)

This one-day conference will look at the impact of the credit crunch on businesses and markets and will go on to consider the effects of the switch to electronic trading. Consideration will also be given to developments in management designed to cope with the more dynamic and complex conditions businesses now find themselves in. Finally we will look at the threat posed by white-collar crime.

TIMETABLE:

09:10 Registration and Coffee • 11:00 Coffee • 12:45 Lunch • 15:15 Tea • 17:00 Conference Close

session one (09:30-11:00)

The 'Credit Crunch'

Derek Taylor

The 'Credit Crunch' is now impacting all of us, both from a corporate and private perspective. This session explains how and why the 'Credit Crunch' came about, and explores the impact on businesses and markets both at home and abroad.

• Where it all began - US sub-prime market
• Exporting the problems
• The financial risks
• Valuing the assets
• Hitting the UK - Libor dislocation
• Why Northern Rock
• Impact on share prices
• The new cost of credit
• 2008 - what happens now?

session two (11.15-12.45)

The Electronic Financial Marketplace

Derek Taylor

Who will buy the 'London Stock Exchange'? As all the world's major markets turn rapidly to electronic trading platforms, we explore how and why this impacts global financial markets and will change the way business is done forever.

• Traditional markets vs electronic markets
• A look inside an e-platform
• The banks - a changing business environment
• Will your business benefit from e-markets
• The impact on corporates and fund managers
• Investing, trading and hedging
• Not at the desk, but always in the market
• STP/RTGS
• The future?

session three (13.45-15.15)

Beyond Budgeting - Change the Model
not the Tools

Robin Fraser BSc(Eng), FCMA, FIMC

The 'Beyond Budgeting' movement started in 1998, driven by widespread dissatisfaction with the traditional 'command and control' management model (with budgets). This was designed to meet 'industrial age' conditions where efficiency was the critical success factor. Business conditions are, however, much more dynamic, competitive and complex than they were 100 years ago, and most organisations now need a management model that supports multiple success factors (eg fast response, continuous innovation, low costs, customer intimacy, best people, and effective governance). The alternative to the traditional management model is one in which decision making is devolved (not centralised) and that uses adaptive (not fixed) performance management processes. Companies that have adopted such a model (e.g. Swedish bank, Handelsbanken, German retailer, ALDI, and Japanese automotive manufacturer, Toyota) have achieved outstanding success and sustained it over several decades. This session explains

• Why organisations need to change their management model
• How the new model works (illustrated with cases)
• How the change programme should be approached

session four (15.30-17.00)

White-Collar Crime - Lessons from
the '7 Billion Dollar Man'

Steve Giles MA (Oxon), ACA

White-collar crime poses a huge threat to businesses both inside and outside the City at the start of the 21st century. This session looks at some of the main issues. Delegates will be shown the fundamentals of the 'risk-based approach', with the new anti-money laundering framework being used by way of illustration. They will look at the headline scandal of Societe Generale and its trader, Jerome Kerviel, before reviewing the critical areas of culture, controls and the 'tone at the top'. This analysis will help delegates to have the best chance of successfully preventing and detecting financial crime in their own organisations.

• Definitions and scale of white-collar crime
• The new anti-money laundering framework - taking a risk-based approach
• The case of Societe Generale and Jerome Kerviel
• Reasons why people commit white-collar crime
• 'Top ten' things you need to know to manage fraud risk effectively
• Essential controls
• Culture and integrity - how to assess and influence behaviour

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