Good governance 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.
The role of the governance coach is to teach the directors how to use a Governance Framework to successfully navigate a Board Meeting which focuses on strategy and risk, rather than getting into operations.
- Develop a structured process to ensure the Governance Framework Plan stays current and goals are achieved
- Create a rolling action plan that ensures key projects are committed to AND implemented
- Create a forum where the directors can discuss burning issues with a trusted third party
- Increase discipline and accountability through an independent coach
- Make better business decisions
- Achieve business best practice
What is involved
We'll join you at your regular Board Meetings as observer and mentor, helping you:
- Identify areas where you can improve your governance performance and discuss those
- Determine strategies and actions to achieve your goals
- Brainstorm strategies to resolve burning issues
- As an outcome of each monthly session, you will update your action plan to define the activities that need to be executed within set timeframes to keep you on track to achieve your governance goals.
Your Measures of Success
- Key business processes redesigned and implemented
- Alignment of directors on shared business goals
- Staying on task with your actions
- Consistently achieving and exceeding targets
- Business best practice in place
- Ultimately achieving your business goals
Value to you
- Having access to our smarts and governance experience at your regular Board Meetings
- Increased business value and readiness for future succession
- Improved wealth, profit and cashflow through better decision making
What types of companies should undertake Governance Planning?
- Any company that is serious about creating and developing an effective Board of Directors should have a Governance Plan. Even if your business is currently small, if your growth plans are large or you simply want to get better at guiding your business, an effective Governance Plan will remove stress and add value.
- If your industry is going through times of change or family dynamics are getting in the way of the business, having a Governance Plan will help align the directors to respond to industry changes and minimise the effect family relationship issues will have on the decision making in the business.
When shall we have the effective governance session?
After developing or reviewing a Governance Plan and have a functioning Board of Directors.
Most of our clients, decide to take on Governance Planning to determine and document an annual Governance Framework Plan and Governance Action Calendar, agree the form and frequency of your regular Board Meetings, and identify significant opportunities and risks that need to be managed.