Effective governance is the cornerstone of business success and longevity.
It’s essential that all directors of a company understand governance best practice.
If you’re serious about having an effective Board of Directors, a plan for governance is crucial to add value to your company and minimise risk.
What is good Governance Planning?
Good Governance Planning is about structuring, operating, and controlling a company with a view to achieving long-term strategic goals for shareholders, creditors, employees, customers, and suppliers.
The effect of good governance is the realisation of the company’s desired vision and purpose due to achieving the required results and outcomes operationally in the business.
Effective governance adds value in four critical areas:
- Purpose: defining your business purpose and acting with it in mind.
- Governance Culture: working effectively to make the right decisions at the right times.
- Holding to Account: being aware of what’s happening and how to respond.
- Compliance: effective risk management.
How we can help
We’ll help you maximise shareholder value, achieve your strategic goals, and minimise risk in your company by:
- Separating your director role from your operational role and establishing the responsibilities that come with this role to ensure time is spent working at the strategic level
- Assessing your current Board composition to help you determine an effective Board structure for your business.
- Working with you to create a Governance Framework Plan and Governance Action Calendar, identifying significant opportunities and risks to be managed.
- Ensuring the Board is aligned with the purpose, vision, and priorities for the company, then assist you in setting annual and quarterly goals and define strategies to achieve them.
- Following the session, the Board can clearly articulate the plan to the CEO, General Manager or leadership team so that they can implement it.
Key benefits of having a Governance Planning session:
- Eliminate current ‘laid back’ business practices to become more strategic
- Ensuring management implement the plan and deliver results (on budget)
- Improve decision-making and maximise shareholder value
- Execute known business opportunities well
- Maintain business stability through periods of high growth and change
- Prevent family relationship issues affecting business decision-making
- Better succession planning – enabling owners to step back from the business and enjoy the fruits of many years of hard work
Any time is a good time to develop your Governance Plan and implement best practice. We can also help you develop your governance skills with our Governance Planning service.
Call us today for more information about our Governance Planning services.