by Hudson Sandler
Fair & Square is a podcast from Hudson Sandler, an independent strategic communications and ESG consultancy headquartered in London. Each episode will feature an in depth interview with leading figures in business, science, the arts and wider society.
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Publishing Since
9/20/2022
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January 21, 2025
<p>Our guest on this edition of the Fair & Square podcast is <a href="https://www.linkedin.com/in/graham-ruddick-349990a/" target="_blank" rel="ugc noopener noreferrer">Graham Ruddick</a>, a leading business journalist and now author of <a href="https://www.koganpage.com/general-business-interest/risk-roulette-9781398616059" target="_blank" rel="ugc noopener noreferrer">Risk Roulette - The surprising reasons why some businesses work and others fail</a>.</p> <p>After a career in UK national newspapers, latterly as Deputy Business Editor of The Times, Graham founded newsletter venture <a href="https://offtolunch.substack.com/about" target="_blank" rel="ugc noopener noreferrer">Off to Lunch</a> which was bought by <a href="https://www.businessleader.co.uk/magazine/" target="_blank" rel="ugc noopener noreferrer">Business Leader</a> magazine where he is now Editor-in-chief.</p> <p>Graham tells our host <a href="https://www.linkedin.com/in/adambatstone/" target="_blank" rel="ugc noopener noreferrer">Adam Batstone</a> that while he thought there was something in the quote that every journalist has a good book inside them and that is where it should stay, he wanted to share his insight gleaned from his 15 years of experience researching and interviewing the founders and chief executives of some of the world’s biggest businesses.</p> <p>He found there was a common and pivotal trait leaders had when it came to success: they thought about risk and going for it in a different way to other people. He coupled this insight with the increasing noise about the UK economy being held back because of the suggestion we were risk averse and should be more like the US where people took more risk – a suggestion he refutes.</p> <p>Graham said he felt compelled to tell the story about the people who were taking risks and why. This included puncturing a few misconceptions, such as entrepreneurs being blind to risk and buccaneers who press on regardless.</p> <p>‘That’s not the case at all, ‘ he says.</p> <p>‘That’s not how these people operate. They are much more calculating than that, they realise the upsides and downsides and when they are successful they can often become risk averse. ‘If you are protecting what you have you think about risk very differently.’</p> <p>In his book, Graham underlines his points with case studies of some of the UK’s business success stories including value retailer <a href="https://www.bandmretail.com/" target="_blank" rel="ugc noopener noreferrer">B&M</a>, fast-growing travel specialist <a href="https://www.travelcounsellors.co.uk/" target="_blank" rel="ugc noopener noreferrer">Travel Counsellors</a> and sportswear company <a href="https://castore.com/" target="_blank" rel="ugc noopener noreferrer">Castore</a>.</p> <p>Graham tells Adam that humans are fundamentally bad at understanding risk. </p> <p>‘In our bones we are bad at risk. We underestimate the long term opportunity and we overestimate the short term threat, so we make bad decisions.’</p> <p>While many factors can influence the success or failure of a business, Graham says: ‘Just going for it instantly puts you in a unique category.’ </p>
November 19, 2024
<p>Our guest on this edition of the Fair & square podcast is <a href="https://www.linkedin.com/in/erinmccusker/" target="_blank" rel="ugc noopener noreferrer">Erin McCusker</a>, Senior Vice President, Leader, at LIXIL Public Partners, but it is her work as leader at LIXIL’s social business <a href="https://preprod.sato.lixil.com/" target="_blank" rel="ugc noopener noreferrer">SATO</a> which is the focus of her discussion with our host <a href="https://www.linkedin.com/search/results/all/?fetchDeterministicClustersOnly=true&heroEntityKey=urn%3Ali%3Afsd_profile%3AACoAAAA9NmQBUse6TCbTXdcqTwZxU7BHPoxeWXI&keywords=adam%20batstone&origin=RICH_QUERY_SUGGESTION&position=0&searchId=f7e7a97f-8e86-47d8-87cb-e7bdbfe93ee9&sid=Anf&spellCorrectionEnabled=false" target="_blank" rel="ugc noopener noreferrer">Adam Batstone</a>.</p> <p>More than 3.5 billion people worldwide do not have access to basic sanitation and handwashing – a situation SATO address by designing and selling affordable toilets, sanitation and hand washing products. </p> <p>SATO has positively impacted the lives of more than 35 million people across 44 countries as it addresses an issue facing more than half the planet’s population and is an example of how the private sector can play a transformational role in successful change.</p> <p>Erin started her career studying engineering and later moved into business consultancy where she developed an interest into: [3.54] ‘…how the private sector can start to contribute to (address) global problems whether that is in global health through vaccination campaigns, through drug donations for treating basic diseases, this combination of the public and private partnerships became a complete area of passion for me.’</p> <p>She adds: [4.08] “I think the role that the private sector can play in having impact on the world’s biggest problems, I immediately knew I wanted to focus my career on that.’</p> <p>After focusing on global health for many years, Erin went into the agriculture sector and a consultancy with the <a href="https://www.gatesfoundation.org/" target="_blank" rel="ugc noopener noreferrer">Gates Foundation</a> which gave her exposure to the fundamental daily needs of households and communities such as basic access to water and sanitation.</p> <p>It led her to question: [5.02] ‘How do we engage the private sector more in tackling these issues?’</p> <p>Part of that was getting the private sector excited by these issues and underlining a role for innovation, scaling and partnering more effectively with the organisations working in these areas.</p> <p><a href="https://www.lixil.com/" target="_blank" rel="ugc noopener noreferrer">LIXIL </a>– a Japanese water and housing technology group best known for its global brands such as GROHE and American Standard – is a case in point as to how the private sector – through its SATO brand - can help address sanitation and hygiene issues and develop new markets.</p> <p>Erin says: [8.32] ‘We’re building a market for sanitation and handwashing products and showcasing to consumers in these markets or to implementers and governments in those markets that these consumers have choice.’</p> <p>[19.57: “You cannot achieve any other priority you have as a government, as a community or as a global entity without addressing basic sanitation.’</p> <p>SATO started in Bangladesh – which remains its largest market - and Erin says it is great example of what can successfully happen when you have strong government support combined with private sector and implementing partners and how much progress can be made.</p> <p> SATO is also in South East Asia, India, Philippines and many African countries. However, Erin also points out that even in ‘developed’ countries such as in some southern states of the United Staes there is a lack of access to sustainable hygiene, contaminating water systems, creating public health challenges and leading to a lack of human dignity.</p> <p>Despite the challenges globally, Erin believes through partnerships and collaborations, implementing the tools which already exist to tackle issues and adapting systems to be responsive to acute needs while also building sustainable solutions there are reasons to be optimistic.</p> <p><br /></p>
July 30, 2024
<p>Our guest on this edition of the Fair & Square podcast is <a href="https://www.linkedin.com/in/james-ashton-37933710/">James Ashton</a> , Chief Executive of <a href="https://www.theqca.com/">The Quoted Companies Alliance</a>, which champions the UK’s 1,000 plus small and mid-sized publicly traded businesses and the firms that advise them.</p> <p>James is a former senior business journalist and editor, and author of several books, including most recently <a href="https://www.hachette.co.uk/titles/james-ashton-2/the-everything-blueprint/9781529394054/">The Everything Blueprint</a> – a fascinating insight into how British microchip designer <a href="https://www.arm.com/">Arm</a> became a global gamechanger in its market.</p> <p>But it was primarily as head of the QCA that James spoke with our podcast host <a href="https://www.linkedin.com/in/adambatstone/">Adam Batstone</a> and told him that the storytelling craft he learned as a journalist was a useful tool in his role campaigning on behalf of the UK’s growth companies.</p> <p>‘I think good trade bodies have to be able to tell stories … we have to be talking to the outside world, talking to the media, to policy makers and government,’ he said.</p> <p>Founded more than 30 years ago, the QCA was a key voice in helping establish <a href="https://www.londonstockexchange.com/raise-finance/equity/aim">the Alternative Investment Market</a> – London’s junior stock market - which remains home to many of its members although others range from constituents of the <a href="https://www.aquis.eu/">Aquis</a> market to the FTSE 250.</p> <p>Small and mid-sized publicly traded companies represent 91% of the quoted sector, employ 2.1 million people and contribute more than £25 billion in annual taxation.</p> <p>James said common themes among members were that they believed in the public markets and wanted them to work as well as they possibly could.</p> <p>‘Generally what I hear from members is the cost and complexity is a little bit more than it should be, we want more liquidity and there is hope there is a better narrative that we can champion our entrepreneurs that have gone public.’</p> <p>The QCA takes its messages to government, regulators and the media, through frequent policy submissions – on average one a fortnight - and original research – such as a recent study into the soaring cost of audit.</p> <p>James said he welcomed the recent publication of the Financial Conduct Authority’s <a href="https://www.fca.org.uk/news/press-releases/fca-overhauls-listing-rules-boost-growth-and-innovation-uk-stock-markets">final Listing Rules</a> designed to boost growth and innovation on UK stock markets which have been threatened by the growth of private money alternatives for businesses in the form of private equity/venture capital.</p> <p>‘We can’t have the whole of the UK economy operating in private hands …. There is so much value in operating in front of the veil not behind the veil … that’s good for staff, for stakeholders for the wider economy and for society…so you can see how these companies are operating.’</p> <p>However, James added that the ‘thicket’ of rules and regulations that listed businesses faced did need to be reformed. The QCA’s own research into annual reports found they were growing by about 6,000 words a year and were now longer than a Jane Austen novel!</p> <p> </p>
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