哈佛商业评论中英文对照-瞅准生活间隙做广告

第一篇：哈佛商业评论中英文对照-瞅准生活间隙做广告

FORETHOUGHT GRIST 前瞻思维

Where Is Advertising Going? Into ‘Stitials’

瞅准生活间隙做广告

Jeffrey F.Rayport 杰弗里·瑞波特

If you’re familiar with consumer-brand marketing, you know the term “interstitial.” An interstitial ad is one that appears in interstices—that is, between segments of the content that customers want to experience.Like a tollbooth on a turnpike, it forces customers to stop and pay(in the form of time and attention)before proceeding on their desired path.Epitomized by the 30-second TV spot, it’s a concept that captures what advertising has been designed to do in the past, and why customers today go to such lengths to block, skip, zap, or fast-forward past it.若你熟悉消费品营销，就一定知道“插播式广告”，也就是说，在顾客乐意体验的活动片段之间插入广告。就像高速公路上的收费站要求驾车者停车付费一样，插播式广告也强迫顾客付出一定的时间和精力，在看过广告之后，才能继续参与下一段活动。典型的例子就是30秒的电视插播广告，它充分体现了过去广告界的设计理念，也解释了为何如今的顾客都想方设法要阻止、跳过、清除或快进略过这些广告。

Advertising is now universally acknowledged to be broken, but the need for it obviously still exists.Making it effective again will require radically altering our perspective on the interstitial.Instead of choosing from the available slots between segments of media, marketers must turn the age-old formula on its head.It’s high time to focus not on “avails” in media but on those in consumers’ daily lives—where, when, and how people might prove receptive to relevant commercial messages.We’re not talking anymore about interstitials.We’re talking about what I call vivistitials.广告业的发展如今陷入了困境，这已是不争的事实，然而市场对广告的需求仍然存在。要让广告再度发挥功效，我们就必须彻底改变有关插播式广告的观念。营销人员不能再把目光放在现有的媒体广告时段上，他们必须颠覆这种陈旧的做法，不再关注媒体本身的功效，而是转向消费者的日常生活，了解人们愿意在何时、何地、以何种方式来接收相关的广告信息。也就是说，我们不要再谈论插播式广告了，让我们谈谈我称之为“生活间隙广告”的模式。

Here’s a vivistitial example you’ve probably already experienced: Captivate Network.Now a unit of Gannett, Captivate is a decade-old company that quietly delivers more advertising

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impressions to an affluent urban professional demographic than USA Today and CNBC combined.It does this by displaying specialized video programming on screens mounted in the elevators of upscale office buildings.The inspiration behind it was the recognition that elevator rides are dead air—and sometimes even pain points—in people’s lives.Elevators are socially awkward environments that fail to promote human interaction;they induce otherwise self-assured individuals to look at their feet and fidget with their keys.Captivate’s screens give people’s eyes a welcome place to rest: on visually rich and relevant information such as headlines and images from the day’s news, stock quotes, and weather.And, yes, adjacent ad messages.For those who can put their minutes in the elevator to better use, the screens are easily ignored, since they are small and don’t emit a sound.But for most riders the screens are highly effective instruments for information delivery.Is it any surprise that recall of Captivate ads is two to four times higher than that of commercial spots on broadcast TV?

你可能从Captivate Network公司的楼宇广告中已经体验到了生活间隙广告的存在。该公司隶属于甘尼特集团，成立已有十年。它的静音视频广告在庞大的都市职业人群中产生的广告印象超过了《今日美国》与美国财经频道CNBC的总和。Captivate的运营模式是在高档写字楼的电梯里安装电视屏幕，播放专门制作的视频节目。而这种模式背后的灵感来自人们的一种普遍认识：在日常生活中，搭乘电梯是件沉闷无聊的事，有时甚至让人痛苦不堪。电梯间是个令人尴尬的社交场合，无助于推动人际交往。就连那些平时蛮自信的人在这里也只是低头盯着自己的脚尖或者拨弄自己的钥匙。而Captivate的电视屏幕则恰到好处地为人们提供了一个目光停留的地方：让人们享受多彩的画面，了解丰富的相关资讯，如每日要闻、股价或天气预报等。对那些在搭乘电梯时还有其他事可做的人来说，这些静音的小屏幕并不会干扰他们。而对大多数搭乘者来说，这些屏幕则可说是高效的信息传递工具。无关乎人们对Captivate广告的记忆是对电视广告记忆的二至四倍！

What principles about vivistitials can we derive from the Captivate example? First and most fundamentally, they take advantage of moments of the day when a typical customer is in an environment of information scarcity, and they introduce a rich information offering.Second, they fit into that environment without provoking distaste.In the case of Captivate, the screens’ size, silence, and slow-moving graphics are attuned to the sepulchral stasis of elevators.Third, they do not interrupt, block, or otherwise delay consumers from going where or getting what they want.Finally, they represent a polite push;while not asking permission to present messages, they are not overly intrusive.Now note that the same basic principles are the secret ingredients in Google’s cash machine: search-based advertising, which provides relevant advertiser links

alongside query results.In another age, they also gave the roadside Burma-Shave signs their charm—and a potency that makes us recall Burma-Shave even today.These principles define what it means to deliver messages to consumers on their terms and in the context of their lives.State their opposites, and you have the essence of what’s wrong with so much of advertising today.从Captivate案例中我们可以归纳出生活间隙广告模式的哪些原则呢？首先，也是最根本的是，它抓住了一般说来顾客信息比较匮乏的时段，然后提供了一个丰富的信息渠道。其次，它巧妙地融合到环境中，不会招致厌烦。在Captivate例子中，电视屏幕的大小、静音以及慢速画面，在沉闷的电梯间里都不显突兀。再者，它并没有打断、阻止或者耽误消费者前往目的地或获取想要的东西。最后，它体现了一种“文明推送”，虽然在播放信息前并没有请求许可，但它并未过分干扰消费者。谷歌推送的基于搜索的广告就体现了这些基本原则，它只是在搜索结果旁边列出相关广告主的链接。如今，该业务已成为谷歌的一大利润源。很久以前，竖立在路边的“柏玛刮胡刀”广告牌就因遵循了这些原则而独显魅力，时至今日，它仍在我们记忆中占据一席之地。这些原则为我们界定了如何在消费者的生活中，以他们接受的方式向他们传递信息。只要思考一下违背这些原则的反面情况，你就能明白为什么如今有那么多的广告毫无效果可言了。In truth, the vivistitials mentioned so far are of only one type—those that show up in an otherwise barren part of the customer’s daily landscape.I term them locostitials because they are defined by geography and time.But people’s lives unfold on different levels, and there are at least four other possible types to bear in mind.A psychostitial fills the gaps in people’s behavioral motivations and thought processes.In that sense, I would argue that the success of Nike’s “Just Do It” campaign owed more to its psychostitial usefulness than to its mass-media carpet bombing.A sociostitial, meanwhile, positions messages in the interstices of preexisting social interactions or relationships.A great deal of Tupperware has been sold through Tupperware parties, but it wouldn’t have happened if customers did not find the gatherings socially gratifying.An anthrostitial focuses on the need of an individual or a community(or “tribe”)to use brands and ad messages as forms of identity expression.If that need can be met by a symbol of inclusion in a group, then who better to provide it than Ralph Lauren, in the form of an embroidered polo player? Finally, some people actually consume ads as a kind of entertainment(and some ads even deserve that status).If a marketer’s message is engaging enough that a TiVo user will choose to watch it over other available options, then it becomes an autostitial.It’s self-serve commercial messaging.事实上，上文提到的只是生活间隙广告模式的一种类型，即在顾客日常生活中沉闷无聊的时段传递信息。我称之为时域间隙广告，因为它受到地域和时间的限制。但是，鉴于人们的生活有不同的层面，因此我们至少可以发现其他四种可能的类型。其一是心理间隙广告，它填补了人们行为动机与思维过程中的间隙。从这一点来说，我认为耐克“Just Do It”的广告宣传之所以成功，更多的是因为它有效填补了消费者的心理间隙，而不是在大众媒体上实施地毯式轰炸。其二是社交间隙广告，它是将信息至于现有的社会交往或人际关系的间隙中。美国特百惠家居连锁公司的大量产品就是通过特百惠直销会进行销售的，但如果顾客发现这种社交聚会并不令人愉悦，产品销售就不可能实现。其三是归属间隙广告，它关注的是那些希望用某些品牌或广告信息来凸显身份的个人、社区（或“群体”）需求，那么绣有马球手图案的拉夫〃劳伦服装无疑是最具代表性的。最后，有些人将观看广告当作一种消遣（有些广告也确实有此功效）。如果某些广告令人痴迷，一位TiVo*用户宁愿看它也不愿看其他节目，那么这册广告就可称为自主间隙广告，也就是由顾客自主获取广告信息的模式。

The concept and terminology of vivistitials are new, but they reflect an emerging theory of advertising that’s working in practice.Already, some of the hottest agencies of the advertising world don’t deal in traditional advertising at all;they organize events, orchestrate sponsorships, launch “pop-up” retail stores, insert advertising into video games, produce videos to tap viral or grassroots online distribution, and place spokespersons in everyday life.The vivistitials concept brings coherence to these tactics and gives marketers a framework for finding new ways of presenting their commercial messages effectively.作为概念的术语，“生活间隙广告”模式还是新事物，但它反映了广告业运作中一种有效的新兴理论。事实上，一些最知名的广告公司早已摈弃了传统的广告模式；它们组织各种活动、策划赞助、开设临时性零售店、在电子游戏中插入广告、只做广告视频在网上进行病毒式营销或草根营销，以及在日程生活中安插代言人。生活间隙广告的概念给这些广告策略提供了基本原则，也给营销人员提供了一个理论框架，有助于他们找到新的方法来有效传递商业信息。

Advertising has a bright future, but only given a fundamental change in orientation.It’s not about media avails anymore but about life avails.So it’s true: Advertising is dead.Long live advertising.广告业只有从根本上扭转方向，才能拥有光明的未来。我们不应再关注媒体的功效，而应该把注意力转向生活的功效。诚然，传统广告已经日薄西山，然而，广告业却将在新的模式中永生。

Jeffrey F.Rayport(jrayport@marketspaceglobal.com)is the founder and chairman of Marketspace, a digital strategy advisory

company based in Cambridge, Massachusetts, that is affiliated with Monitor Group.Prior to founding the company, Rayport was a faculty member at Harvard Business School for nearly a decade.He is also a coauthor of Best Face Forward: Why Companies Must Improve Their Service Interfaces with Customers(Harvard Business School Press, 2005).作者简介：杰弗里瑞波特（Email: jrayport@marketspaceglobal.com），摩立特集团（Monitor Group）旗下的Marketspace公司创始人兼董事长。该公司是一家数字业务战略咨询公司，总部位于马萨诸塞州剑桥市。在创办公司之前，瑞博特曾在哈佛商学院任职近十载。他还与人合著了Why Companies Must Improve Their Service Interfaces with Customers一书（哈佛商学院出版社，2005年出版，其中文版《客户界面：未来竞争优势》已于2006年由商务印书馆出版）。

翻译：王坚

英文版原文刊载于Harvard Business Review2008年5月号，中文版译文刊载于中文版哈佛商业评论2008年9月号。

第二篇：哈佛商业评论中英文对照-打折很危险（范文）

Discounts Can Be Dangerous

打折很危险

by Jeffrey M.Stibel and Peter Delgrosso

During tough economic times, companies often rush to reduce prices on their products and services.That seems like common sense: People can’t afford to spend as much, so charge less to keep them buying.But discounting has its perils.每当步入经济困难期，许多公司都会争先恐后地降低产品及服务的价格。这似乎也合乎常理：既然消费者花不起那么多钱，那就降价促销。殊不知，打折蕴藏着诸多风险。

To be sure, discounting is effective when done wisely and strategically.It can get consumers excited about a product, encourage them to buy more, and help your short-term bottom line.However, whether the purchase is a hot dog, a handbag, or a stay at a five-star hotel, customers want good value for their hard-earned money.The price of something is often an important determinant of its perceived value, as Dan Ariely points out in Predictably Irrational.Often, the more consumers pay, the more value they ascribe to a purchase.If you discount prices purely to boost sales, buyers may begin to question that value.毋庸置疑，如果能站在战略的高度，以高明的手段打折，那肯定有效果。它会激发消费者对产品的兴趣，鼓励他们增加购买，这样就能在短期内提高公司的利润。但是，消费者无论是购买一个热狗、一只手袋，还是下榻五星级酒店，他们都希望自己辛苦赚来的钱能够花得物有所值。丹〃艾瑞里在Predictably Irrational（中文版译为《怪诞行为学》，中信出版社2008年出版）一书中指出：价格是决定产品可感知价值的一个关键因素。消费者通常认为，他们付的钱越多，购买到的价值就越高。如果打折只是为了刺激销售，那么买家就可能会怀疑自己买到的价值。

Consider Abercrombie & Fitch, which lowered prices by roughly 15% during the 2000–2002 downturn.When the dust cleared, the company realized that it had sacrificed much of its brand’s cachet and lost significant market share.A&F didn’t recover until 2004—and then only after returning to higher prices.In August 2008, having learned its lesson, the company announced that it was considering another price increase, despite a decline in second-quarter

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profits.The goal: to enhance what the CEO called the ―iconic status‖ of the brand.且以美国时装品牌Abercrombie&Fitch（A&F）为例，在2000年~2002年的经济衰退期，该公司产品降价约15%。当经济风暴尘埃落定后，公司才意识到，降价已经大大地损害了品牌的形象，也导致公司丧失了相当大的市场份额。直到2004年，A&F回归高价路线后，业绩才恢复元气。2008年，洗去了教训的A&F公司在第二季度利润下滑的情况下，仍然在8月份宣布考虑新一轮的提价计划，目标就是提升CEO所提倡的品牌的“标志性地位”。

But discounting is so easy that some companies simply can’t resist.Starbucks, which posted its first-ever earnings loss in July, has begun to offer lower-priced options, such as a cup of coffee for $1, with free refills.This strategy may boost sales in the short term, but we suspect that, as with A&F, it will hurt the Starbucks brand in the long term.然而，打折是如此简单易行，另一些公司无法抗拒这一诱惑。2008年7月，星巴克（Starbucks）有史以来首次公布业务亏损，并开始提供低价产品，比如可免费续杯的一员咖啡。这种策略或许能在短期内刺激销售，但是正如A&F的前车之鉴所示，长远来看可能有损星巴克的品牌形象。

Discounting is not always a bad idea, though—there are safe ways to lower prices.Earlier this year, Chrysler discounted something that does not affect its core brand: gasoline.It guaranteed to purchasers of new cars a price of no more than $2.99 per gallon of gas for three years.The idea was to subsidize the fuel that a new car uses, not the car itself.It’s similar to what GM did in 2001 by discounting its financing rather than its cars.Obviously, the auto industry has more problems than brand deterioration.Nonetheless, this is smart marketing during a downturn: It couples the appeal of a discount with an implicit message about the value of the core product.当然，打折并非总是危险，我们还是可以找到一些安全的降价方式。2008年年初，克莱斯勒公司（Chrysler）的打着手电就丝毫没有影响到它的品牌价值——它的方法是给汽油打折。公司承诺向购买新车的客户提供三年售价不超过每加仑2.99美元的汽油。这种做法看起来是在为新车使用的燃油提供补贴，而不是针对汽车本身。该策略与2001年通用汽车（GM）为购车贷款提供折扣而不是给车打折的做法很相似。当然，美国汽车业的问题显然不仅仅是品牌式微的问题。但是在经济衰退时，这的确是一种精明的营销方式：它兼顾了消费者对折扣的需求，同时又微妙地维护了核心产品的价值。

So if you’re eyeing a simple, traditional discount strategy during the present slowdown, first consider the potential for damage to your brand and then evaluate the brand insurance that a

more nuanced approach may offer.If you inadvertently shatter your brand’s mystique, reestablishing the value proposition to consumers may be tougher than you expect.在当前经济下滑的情况下，如果你还在考虑采用简单的、传统的打折策略，那么我们奉劝你首先考虑一下打折给品牌带来的潜在危害，然后评估一下对传统打折策略稍作变通所能带来的品牌保障。如果不小心损害了品牌形象，那么，在消费者心中重塑品牌价值或许比你想象的要困难得多。

第三篇：哈佛商业评论中英文对照-绿色科技拯救未来

FORETHOUGHT GRIST 前瞻思维

Venture capitalist Vinod Khosla on reasons for long-term optimism about technology and the economy

绿色科技拯救未来

A Conversation with Vinod Khosla by Alison Berkley Wagonfeld

From Vinod Khosla’s perspective, the world’s economic future looks bright.After cofounding Sun Microsystems and spending two decades as a venture capitalist with Kleiner Perkins, Khosla created his own venture firm in 2004 to invest in early-stage technologies, especially those with minimal environmental impact.Khosla Ventures, based in Menlo Park, California, has a portfolio of some 65 start-ups, 45 of which are in clean technology, or cleantech.The latter range from Kior, a speculative biofuels company, to Ausra, which is developing utility-scale solar thermal technology.Khosla’s goals include turning niche cleantech forms of energy into what he calls “maintech” by proving that green technologies can be economically cheaper than current ones.在维诺德〃科斯拉看来，世界经济前景光明。科斯拉和其他人共同创立了太阳微系统公司之后，在凯鹏创投基金效力了二十余年，又于2004年创立了自己的创投公司，主要投资于处于早期阶段的环保性技术。他的公司位于加利福尼亚州的门罗帕克，投资了大约65家初创型企业，其中45家致力于清洁技术的研发，这里面既有从事探索性生物燃料研究的Kior公司，也有开发大规模利用太阳能技术的Ausra公司。科斯拉的目标之一就是要证明，绿色科技可以比现有的技术更加经济，我们应该扭转清洁能源技术目前所处的边缘状态，使其跻身“主流技术”之列。

Do you see the current downturn differently from how other people do?

对于目前的经济滑坡，你的看法和其他人有何不同？

Economists don’t appreciate the extent to which innovation can disrupt assumptions.A new technology can render forecasts obsolete.We are investing in many such technologies, and some of them will surely succeed.I live by an idea from the computer pioneer Alan Kay, who

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said, “The best way to predict the future is to invent it.”

创新能在多大程度上推翻人类原有的设想？经济学家往往对此认识补足。他们忽略了，一项新技术的出现可能会让先前的预测作废。我们目前就在投资很多的此类新科技，其中不乏成功把握相当大的项目。我信奉计算机领域的先驱艾伦〃凯说过的一句话：预测未来的最好方法就是去改变未来。

The technologies we’re working on have the potential to affect energy prices and thus geopolitics and poverty, not to mention global warming.But the impact won’t be immediate.Many of the technologies are in early stages and face significant hurdles before they can become operational.The economists may be correct that in the near term, at least, the cost of inputs will continue to rise.But the specific critical technological events that will truly determine future economics are impossible to predict.我们正在投资的技术很有潜力，可能会影响能源价格，进而改变地缘政治和贫困面貌，更不用提可以遏制全球变暖了。但是这些影响不是立竿见影的，因为很多技术还处于早期阶段，在产业化之前尚需跨越许许多多的障碍。至少在短期内，各种投入的成本还会上涨，在这点上，经济学家的观点也许是正确的。但是现在不可能预测究竟何种关键技术能够真正左右未来的经济。

Which technologies give you the greatest hope?

你觉得哪些技术最有希望？

While home rooftop solar photovoltaic cells will continue to improve, I’m excited about solar thermal’s ability to compete cost-effectively with utility-scale power from coal and natural gas plants.Many of our investments are in biofuels, which I’m very positive about because they have low financial and adoption risks.We look for technologies that don’t require people to change their driving, transportation, and heating patterns.Within 25 years, I believe the world will be able to replace most fossil fuels with nonfood biomass and waste or with solar, geothermal, and wind energy.There is no question in my mind that biofuels can be produced for a dollar per gallon, probably much less.虽然家用屋顶太阳能光伏电池的技术有待进一步完善，但我还是兴奋地看到，太阳能在成本效率上可以与煤炭、天然气等传统能源一决高下。我们还在生物燃料领域有众多投资，由于其财务和应用的风险较低，我们对这些项目非常看好。我们寻找那些不要求人们改变现有驾驶、运输和取暖方式的技术。我相信在25年内，人们就会用食物之外的生物和生物肥料，或者是太阳能、地热、风能来取代目前所用的大多数化石

燃料。我绝对相信生物燃料的价格可以降低到每加仑一美元，甚至更低。

In the U.S., for example, the acreage that is currently out of production or devoted to export crops is more than adequate to supply the country’s biofuel needs.If we innovate in biomass production, my analysis shows that we may need zero additional land to replace all our gasoline.The biofuels I’m referring to are cellulosic, such as forestry waste and winter cover crops—maybe even algae someday—but not corn, which cannot scale up to meet the world’s energy needs.譬如在美国，就目前荒芜的，或用于种植出口农产品的土地面积来看，要满足国内染料型作物的需求是绰绰有余。如果我们在此类作物的生产上取得突破性创新，那么我认为现有土地就可以生产出替代全部汽油消耗的生物燃料来。我所说的生物燃料取自纤维原料，比如林木废弃物和冬季覆盖作物，甚至可以是藻类，但不会是谷物，因为谷物无论如何增产也满足不了全世界的能源需求。

Will the world’s current financial state delay development of some critically important technologies? 当前的世界金融危机会延迟某些特别重要的技术发展吗？

I do worry about that.Energy and cleantech companies require plenty of follow-on financing.Combine the current state of the capital markets with the risk aversion we are seeing among other investors in this space, and there’s real reason for concern.I also worry about governmental policies, both in the U.S.and elsewhere.The traditional enemies of alternative energy—the coal and oil industries—are fighting change.However, policy is gradually moving in the right direction, and the entrenched industries will adapt, because the global imperative is immense.The world is witnessing an unusual confluence of natural, geopolitical, and technological factors that are pulling in the same direction, away from fossil fuels and toward alternatives.I believe there will be many energy and cleantech successes, not just from the companies we’re working with.In addition, traditional energy companies will participate actively as investors and implementers.我确实有这方面的担心。能源和清洁技术企业需要很多后续资金，而现在的资本市场风雨飘摇，同事我们也看到，这个领域的其他投资者都采取了规避风险的措施，这些都导致了我们的担忧。我还担心政府的能源政策，无论是在美国还是其他国家。另外，替代能源的宿敌，也就是煤炭和石油公司，还在变革面前负隅顽抗。好在政策逐渐想正确的方向转轨，而传统能源行业也会去适应这种变化，因为这毕竟是大势所趋。

如今，自然环境、地缘政治和科学技术这三股力量争议罕见的合力推动着新能源替代传统能源的进程。我坚信今后会诞生很多成功的能源和清洁技术，不仅仅是我们投资的这些企业。另外，传统的能源公司也会作为投资者和实施方积极参与进来。

There’s always another worry, too—that our firm might be dead wrong about its investments.There are no historical rules on what will and won’t work.But we believe that the freedom to fail gives us the freedom to succeed.We are willing to take risks because we believe the opportunities are so exciting.I am a technology optimist.A lot of what can be imagined can be invented.当然我们总是还有另外一个担忧，那就是我们在某项投资商可能会大错特错。没有现成的经验和规则告诉我们什么是行得通的，什么是行不通的。但是我们相信，允许失败就会找到成功的机会。我们愿意冒险，因为摆在我们面前的机会是那么诱人。我是个技术乐观派，我相信人类梦想的很多东西终将被发明出来。

第四篇：哈佛商业评论中英文对照-绩效薪酬的致命缺陷

The Fatal Flaw in Pay for Performance

绩效薪酬的致命缺陷

by Ben W.Heineman, Jr.小本杰明·海涅曼

Many corporate boards, responding to shareholder and public pressure, are designing pay-for-performance plans to hold CEOs accountable.But there is often a crucial flaw in such schemes: They don’t pay for performance with integrity.迫于股东和公众压力，许多公司董事会都在努力建立与业绩挂钩的薪酬体系，以期CEO们恪尽职守。但是，此类薪酬体系往往存在一个致命缺陷：仅关注业绩，而忽略了操守。

The omission—evident from compensation committee reports in top companies’ proxy statements—is striking.Corporations, after all, face unceasing pressures to make the numbers by bending the rules, and an integrity miss can have catastrophic consequences, including indictments, fines, dismissals, and collapse of market capitalization.Furthermore, performance with integrity creates the fundamental trust—inside and outside the company—on which corporate power is based.从顶级公司股东委托书所附的薪酬委员会报告可以看出，这种忽略是显而易见的。毕竟，上市公司始终面临着完成业绩目标的巨大压力。为此，它们不惜违规违纪。然而，这种职业操守的缺失将导致各种灾难性后果，包括起诉纠纷、罚款赔付、解雇免职以及市值暴跌。殊不知，操守与业绩并重，才能在公司内外赢得最基本的信任，而公司力量也只是建立在信任的基础之上。

A board should explicitly base a defined portion of the CEO’s cash compensation and equity grants on his or her success in handling the foundational task of fusing high performance with high integrity at all levels of the company.Why don’t boards do that? They may be uncertain about the meaning of integrity and how to assess its integration into financial performance.在公司各个层面上将高尚操守和卓越业绩相融合是CEO的基本任务，董事会应该在CEO的现金和股权报酬中划出一定比例，专门与CEO在上述任务上的表现挂钩。但董事会为何没有这样做呢？这可能是因为他们自己对操守的含义也并不确定，更不知道该如何考核职业操守与财务业绩的融合了。

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Step one, then, in designing pay for performance with integrity is using the following definition: Integrity is a uniform corporate culture with three elements—robust adherence to formal rules;adoption of ethical standards that are in the company’s long-term enlightened self-interest;and employee commitment to honesty, candor, fairness, trustworthiness, and reliability.Step two is for the board to assess whether the CEO has infused high performance with high integrity.The board can do that by answering the following questions, using hard analytics as well as the board members’ own judgment.那么，董事会要设计重操守的绩效薪酬制，第一步要做的就是引入操守概念：操守是全公司的统一文化，有三个要素组成——坚决遵守正式的规章制度；采用符合公司长远利益同时又不损害他人利益的伦理标准；员工要承诺做到诚实坦率、公平公正、可信可靠。第二步，董事会需运用一些复杂的分析工具，当然也要运用他们的个人判断力，来考核CEO是否已经把高尚操守和卓越业绩相融合。董事会可根据以下问题判断：

• Has the CEO established company-wide performance-with-integrity principles for which the firm’s leaders are responsible and accountable? Examples of these include demonstrating committed and consistent integrity leadership;managing performance with integrity as a business process;using early-warning systems to stay ahead of global trends;providing timely, risk-assessed training;and giving employees a voice.• CEO是否在全公司范围内制定了操守和业绩并重的薪酬制度，且由公司领导层对此负责？举例而言，CEO应该做到：领导层始终如一地恪守职业操守，把操守和业绩的结合当作一项业务流程来管理，运用预警系统抢先把握全球商业规范趋势，及时提供道德风险评估培训，并保证员工的发言权。

• Have the CEO and top managers implemented these principles through robust practices? If leaders don’t invest time, effort, and resources in embedding key integrity practices in business processes, “tone at the top” is just window dressing.(For examples, see the sidebar “The Practice of Performance with Integrity.”)

• CEO和高管们是否在实践中贯彻了这些原则？如果领导层没有投入足够的时间、精力和资源，将关键的操守原则落实到公司的业务流程中，那么所谓的“高层主张”就只不过是空口白话而已。（参见副栏“操守与业绩并重的管理实践”）

• Has integrity permeated every aspect of the corporate culture? One vital tool for assessing that is an annual, anonymous employee survey across all businesses and regions that asks, “Is

integrity compromised by business pressures?” and “Are the leaders’ verbal commitments to integrity reflected in action?” The board can also have outside HR experts periodically conduct 360-degree assessments of the CEO and top executives that explore such questions.• 操守原则是否已渗透到公司文化的每个层面？一个重要的评估工具就是覆盖公司所有业务及地区的员工匿名调查表，其中包括这些问题：“操守原则是否会向商业压力让步？”“在恪守职业操守方面，领导是否言行一致？”董事会还可以定期邀请外部的人力资源管理专家，同样就此类问题对CEO和高管进行360度评估。

• Has the CEO met annual performance-with-integrity objectives set by the board? One example might be effectively handling a major miss or crisis—an environmental accident, a bribery case, or a financial restatement—and remedying the problem systematically after a candid analysis of its causes.Another objective might be hiring leaders in emerging markets such as China, Russia, and India who are skilled in integrating performance and integrity.• CEO是否完成了董事会设定的操守和业绩并重的目标？比如说，这个目标是：CEO有效处理严重失误或危机（如环境事故、贿赂案，或者财务造假），并且在对事件起因进行坦诚分析后，有条不紊地解决问题。又比如：在新兴市场（如中国、俄罗斯和印度）聘用善于兼顾操守与业绩的领导者。

• How do business divisions rate comparatively? The board should look at how integrity practices differ among divisions and how the CEO deals with laggards.It should also look at how the units rank against external peers.(This may require data from news or government reports or a comparative audit by, say, a former regulatory official.)

• 公司各事业部在职业操守方面的相对表现如何？董事会要观察各事业部之间的操守差异，以及CEO是如何处理那些落后分部的。同时，董事会还要将这些事业部与公司外部的同行进行比较。（这可能需要从新闻报道、政府报告或前监管机构官员的的比较审计资料中收集数据）

The board’s standards for assessing pay for performance with integrity should also define a new set of “specs” in the company’s CEO succession planning.In evaluating candidates, the board should ask: Do they possess the knowledge, experience, and skills to drive a robust performance-with-integrity culture deep into the company’s global operations? The same specs should be used to evaluate the compensation of senior executives and set goals for leadership development programs.That’s the best way to ensure that, over the long term, the company’s top ranks are filled with managers who live by the principles and practices of performance with

integrity—and thus help the company avoid debilitating risks and secure the trust that is vital to doing business.董事会在明确上述考核标准时，还应制定一套新的CEO继任“规范”。在考量候选人时，董事会应该问：他们的知识、经验、能力是否有利于推动操守和业绩并重的健康企业文化，使之深入公司在全球的每一个经营机构？另外，这套规范还应当运用在高管薪酬评估，以及领导人培养项目的目标设定中。长期来看这也是确保公司高层坚持操守和业绩并重原则的最佳方式，有助于公司规避风险，获取商界成功所必需的信任。

The Practice of Performance with Integrity

Here’s a sample list of questions(greatly shortened

because of space limits)that will help boards

assess a CEO’s performance-with-integrity

practices.They can be answered using tools like

process reviews and substantive audits and

external outcomes(such as environmental

violations or customer complaints).Leadership

Does the CEO...never be compromised to make the numbers?

lapses?

meetings?

Business processes

Does the CEO...processes for

preventing, detecting, and responding to lapses in 操守与业绩并重的管理实践 下面列出的一份问题清单样本（限于篇幅，问题数量已经大大缩减），对董事会评估CEO兼顾操守与业绩的实际行为会有所帮助。要找到这些问题的答案，可以借助流程评估、独立审计和外部影响（如环境损害或客户投诉）等手段。领导力 CEO是否„„ 告知组织上下，操守原则决不向像业绩目标让步？ 不仅仅规范普通员工的操守，同时也约束高层领导的行为？ 定期在员工会议上处理有关操守的棘手问题？ 业务流程 CEO是否„„ 为员工恪守职业操守创造必要的基础条件——设计流程用以防范、发现并处理公司各业务、各地区内的不端行

• communicate to the organization that integrity must • discipline generals, not just troops, for integrity • address difficult integrity issues regularly at staff • build a strong integrity infrastructure—

all businesses and regions—and put A players in charge of it?

• assess integrity needs realistically and provide adequate funding for those activities?

• respond promptly to early warnings on trends in legal, ethical, and country risks?

Giving employees a voice

Does the CEO...• encourage reporting of financial, legal, and ethical concerns through a system that prevents retaliation?

• ensure that concerns are investigated fairly and promptly, that trends are tracked, and that remedial action is taken if needed?

为，并安排明星员工负责此项工作？ 现实地评估操守需求，并拨出足够的经费予以支持？ 对法律风险、伦理风险和国家风险的变化提出预警，并及时应对？ 让员工有发言权 CEO是否„„ 鼓励员工通过正式系统来报告财务问题、法律问题以及伦理问题，同时防止员工因此遭受打击报复？ 确保及时公正地研究问题，跟踪问题的发展趋势，并在必要时采取补救措施？