Governance is an art, not a science, and there is no one right way to do it. Our Board education and orientation programme will make Board Members more effective on issues of Corporate Governance and help members appreciate management best practices for unprecedented corporate success.
Through experience, we have learnt that
- Smaller boards work better. “Boards with 8 to 12 members are best positioned to encourage candor and facilitate constructive debate.”
- Diversity helps. “Recruit members who collectively bring a balance of expertise, skills, experience, and perspectives. Members with experience in the CEO role, in finance, and in regulation are particularly valuable.”
- Boundaries must be set. “Respect the line between the Board’s responsibilities for direction setting, oversight, and control, and management’s responsibilities to run the business. It is misguided and dangerous to conflate the responsibilities of management with those of the Board.”
- Follow-up is not optional. “Ensure that rigorous and robust processes are in place to monitor organizational compliance with the agreed strategy and risk appetite and with all applicable laws and regulations.