Building up an organizational architecture that generates intellectual capital has been a huge challenge for banks and financial institutions. It is even more so today, when we are undergoing a period of the most rapid acceleration of what is alluded to as ‘creative destruction’ in the history of the financial sector. In the process of creative destruction, new constructs emerge.
So far, there has not been an accurate and widely accepted translation in Chinese for the word “stakeholder”, nor do we have principles or guidelines concerning the role of stakeholders in corporate governance. Third, the respective roles of the Party organizations and of the board of directors and the management need to be clarified. This is an issue unique in China.