Better regulation and supervision are needed to avoid economic crises like the current one.
- Professor Rosa María Lastra participated in the seminar on "Systemic Risk", organized by the University of Navarra in London.
"Getting a financial system to create wealth and contribute to development has to do with improving regulation and increasing supervision". This was stated by Rosa María Lastra, Professor of International Monetary and Financial Law at the University of London, who spoke at the seminar on Systemic Risk, held in the British capital and organized by the School of Economic and Business Sciences of the University of Navarra.
"Globalization has result been positive in times of economic boom; however, in the face of crises, there are few bodies that can intervene. In general, the dichotomy between international markets and legislation is not an easy one and serious progress is needed," added the expert.
For his part, Alberto Andreu, director of Telefónica's Corporate Reputation and Responsibility, referred to the growth of companies in global markets. "There are two types of growth: on the one hand, that of a monolithic company that sets out its management system from the top down; and on the other, that of a business that grows by aggregation, acquires the best of each country and builds and feeds itself".
As he pointed out, Telefónica intends to follow this second system: for this reason, one of the fundamental challenges is "to group and consolidate the identities of all the countries where it is located and at the same time, to be a globally recognized brand".
Finally, he expressed the need that "wherever a company expands, it should be recognized, by definition, as someone who is from that country". Precisely, the president of the Spanish Chamber of Commerce in Great Britain, Fernando Pérez Fraile, emphasized the importance of an international vision in companies: "A more global understanding is needed," he said.
Reputation and dialogue with the employee
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| Alberto Andreu. |
| Photo: Courtesy |
Esther Sarsa, manager of development Sustainable of Danone Spain, also took part in the meeting and spoke about reputation: "Reputation has to do with the dialogue that business has with its employee, one of the most important groups with which it dialogues. Danone operates in more than 120 countries and there are many differences, so the first thing to do is to ask employee what it thinks".
According to speaker, the company prefers to define itself as a best place to grow rather than a best place to work, i.e. "a place where people can grow and develop as individuals and professionals".