Jonathan Goodman (Deloitte): Governing Strategy

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Feb 10, 2025

Jonathan Goodman, Vice Chair of Deloitte Canada, discusses his journey from journalism to boardroom governance. He emphasizes the critical role of boards in shaping corporate strategy, advocating for directors to ask impactful questions. Goodman explores the importance of adapting to geopolitical shifts, technological advances, and the evolving dynamics of talent. He also reflects on his experiences founding Monitor Canada and the transformative merger with Deloitte. Expect insights on embracing uncertainty and cultivating a strategic culture within organizations.

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ANECDOTE

Jonathan's Journalism Beginnings

Jonathan Goodman started his career with a privileged summer internship in sports journalism at the Los Angeles Times.
He covered diverse events like boxing at the Olympiad and pro beach volleyball at Hermosa Beach in 1983.

ANECDOTE

Founding Monitor Canada

Jonathan co-founded Monitor Canada with Roger Martin at age 22 in 1987, starting with only two people plus an office manager.
His mother, an interior designer, helped design the initial office space, reflecting their entrepreneurial spirit.

INSIGHT

Strategy Means Choice

Strategy is fundamentally about making explicit, integrated choices on goals, where to play, how to win, and needed capabilities.
Every company inherently makes strategic choices; the key is whether they're coherent and aligned with resources and environment.

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On Becoming a Person

A Therapist's View of Psychotherapy

Carl Rogers

In this book, Carl Rogers presents his theory of psychotherapy, focusing on client-centered therapy. He argues that the therapeutic relationship is crucial for personal growth and healing. Rogers emphasizes the importance of unconditional positive regard, empathy, and genuineness in the therapeutic process. The book explores how individuals can become fully functioning by accepting their feelings, thoughts, and emotions, and by living in the present moment. It also discusses the concept of 'becoming a person' as a continuous process of self-discovery and growth[3][5][4].

The final days

Bob Woodward

Carl Bernstein

This book chronicles the tumultuous final months of Richard Nixon's presidency, from the departures of Bob Haldeman and John Ehrlichman in April 1973 to Nixon's resignation on August 9, 1974. Woodward and Bernstein provide a gripping narrative based on first-hand accounts from participants, detailing the internal struggles within the White House, the legal battles, and the psychological strain on Nixon as the Watergate scandal unfolded. The authors highlight the conflicts among Nixon's staff, the role of key figures like General Alexander Haig and Henry Kissinger, and the eventual collapse of Nixon's defense against impeachment[1][3][4].

Atlas Shrugged

Ayn Rand

Published in 1957, 'Atlas Shrugged' is Ayn Rand's magnum opus and her longest novel. The story is set in a dystopian United States where increasingly burdensome laws and regulations strangle innovation and productivity. The plot follows Dagny Taggart, a railroad executive, and Hank Rearden, a steel magnate, as they struggle against 'looters' who exploit their work. A mysterious figure named John Galt leads a strike of productive individuals, persuading them to abandon their companies and disappear. The novel culminates with Galt's three-hour radio speech explaining his philosophy of Objectivism, which emphasizes rational self-interest, individual rights, and the importance of the human mind. The book explores themes of capitalism, property rights, and the failures of governmental coercion, presenting a provocative vision of a society in collapse and the potential for a new capitalist society based on Galt's principles.

(0:00) Intro

(1:35) About the podcast sponsor: The American College of Governance Counsel

(2:21) Start of interview

(3:00) Jonathan's origin story

(5:10) His start in journalism

(7:05) Founding Monitor Canada with Roger Martin (1987)

(9:43) Transitioning to Deloitte Monitor (2013)

(12:18) About Deloitte Canada’s Podium Club for Directors that he leads.

(13:38) How Trump's tariffs may impact Canada (note: this podcast was recorded on 1/24, before tariffs went into place)

(17:57) What is strategy? "I think of strategy as choice"

(20:20) The role of the board in strategy. "The best CEOs seek advice from their boards, not a grade"

(25:39) The questions board members ask matter. "The question is the asset" "Ask questions and question the answers"

(30:40) Rethinking Board Information Approaches *Reference to Netflix board case study

(33:30) Embracing Uncertainty and Risk

(37:55) Private vs. Public Strategy Dynamics

(42:10) The Role of Culture and Talent in Strategy (scope of company founders)

(46:55) Key Strategic Priorities for Directors (beyond idiosyncrasies of each company): 1) Geopolitics; 2) Technological Shifts (AI, Cyber, etc); and 3) Talent (Workforce and People).

(53:10) Books that have greatly influenced his life:

Atlas Shrugged by Ayn Rand (1957)
The Final Days by Bob Woodward and Carl Bernstein (1976)
On Becoming a Person by Carl Rogers (1961)

(55:58) His mentors.

(56:41) Quotes that he thinks of often or lives his life by.

Jonathan Goodman is a vice Chair and member of the board of Deloitte Canada, where he leads the firm’s CEO and Boardroom programs, including Deloitte Canada’s Podium Club for Directors. He is also Global Chair and former global Managing Partner of Monitor Deloitte.

You can follow Evan on social media at:

X: @evanepstein

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To support this podcast you can join as a subscriber of the Boardroom Governance Newsletter at https://evanepstein.substack.com/

Music/Soundtrack (found via Free Music Archive): Seeing The Future by Dexter Britain is licensed under a Attribution-Noncommercial-Share Alike 3.0 United States License