| |
| |
|
Management Information |
|
|
|
Corporate Governance for Business Owners
It is clear that good Corporate Governance is in the best interests of shareholders of public companies, but how can it benefit shareholders of private companies and other business owners? Will a good system of corporate governance increase the bottom line? One of the elements of a good system of corporate governance is ensuring that the role, and the boards' expectations, of management are understood. Separation Separation of the board and management is often lacking when it comes to small medium sized enterprises. Often senior company managers are also members of the board, hence the board may be deprived of one of its most critical roles, the ability to review and direct. It is this element of corporate governance, through use of independent directors, that can help a business improve both its corporate governance and profitability. Influence The influence that a board has on an organisation is dependent both on the skills and knowledge of the directors and the role that the board chooses to take. Inevitably a board of well chosen directors will add to a company's focus and create additional business opportunities. Three roles Generally there are three generic roles which boards tend to take: The Watchdog - total supervisory role As there is no "one size fits all" solution to corporate governance business owners need to consider their current situation before embarking on structural change in the name of Corporate Governance. Independent directors The appointment of independent directors to a board will often involve a shift in thinking for many small businesses operators but it is important to explore some of the benefits which independent directors may bring to a business. These usually include: - Generation of new ideas - Signal to external parties that the business is becoming investor ready - Renewed focus on strategic business issues. It is through such advantages that the business may benefit both internally and externally from the improved Corporate Governance that will inevitably follow. Joe Kaleb is a Chartered Accountant in Australia and the CEO of http://www.australianbiz.com.au, a website providing tax and management tools for small business owners and their advisors.
MORE RESOURCES: Texas Instruments to host investor conference call on power management - MarketWatch (press release)
Crist's prized Everglades land deal clears one hurdle, faces several others - Palm Beach Post (blog)
Google News |
|
|
|
RELATED ARTICLES
Preventative Maintenance of Company Delivery Vehicles If you have company delivery vehicles at your small or medium sized business you should have a preventative maintenance schedule and procedures for employees who are drivers of these vehicles. When discussing preventative maintenance over the years with business owners the first thing which comes to mind is 'Oil change' and usually the business owner who is on the hook for the loans on these vehicles is more than aware of that fact. Performance Evaluations Can Be Beneficial THE PERFORMANCE REVIEW MEETING: It's a fact - most supervisors and employees have negative feelings toward performance appraisals and appraisal interviews. It's often necessary to shift people's thinking from the perception that the interview is a time of judgment to the perspective that supervisors can provide support and direction to employees who want to improve their productivity and be involved in the process. Todays Employees and Their New Needs: What You Need to Know Today's employees are not only interested in security or in pay and fringe benefits. They are often placing increased value on being recognized and involved in reaching personal growth goals. Is A Bad Attitude Permanent Today there is great weight put on a person's attitude. It is as if this is something for which they are individually responsible and should be held to account for. Communicating In Chaotic Environments How do you, or would you, communicate in a chaotic environment?That question was put to me by a reader who works in big, frantically-paced telecommunications company. Many projects operate at the same time, and many connections exist among the project teams. Stomp Out Leeches In Your Company Recently, I felt appalled to see a political candidate running on the motto of "Demand More!" That motto oozes extreme nerve, and implies some people think it is o.k. Cross Cultural Solutions for International Business Globalisation, the expansion of intercontinental trade, technological advances and the increase in the number of companies dealing on the international stage have brought about a dramatic change in the frequency, context and means by which people from different cultural backgrounds interact.Cross cultural solutions to international business demands are increasingly being viewed as a valid and necessary method in enhancing communication and interaction in and between companies, between companies and customers and between colleagues. Employee Turnover: Is It Eating Up Your Profits? Keeping the cost of doing business down, yet providing a quality product or service, is one of the most critical components of success for today's leader. What many fail to realize is that employee turnover can represent a very substantial price tag to a company's productivity and its bottom line. 4 Simple Steps to Successful Delegation Last month, my featured article was about creating a "Stop Doing" list. Hopefully, if you followed my suggestion, you now have a list of tasks that you are looking to delegate away. The Gift of Gratitude Gratitude might seem like a soft or even an obvious subject to you. Perhaps you would rather read about a leadership lesson or a marketing approach or even a motivational technique. Innovation Management - Eliciting Dominant Ideas Creativity can be defined as problem identification and idea generation whilst innovation can be defined as idea selection, development and commercialisation.There are other useful definitions in this field, for example, creativity can be defined as consisting of a number of ideas, a number of diverse ideas and a number of novel ideas. CRM ...The Emperors New Clothes The story of the emperor's new clothes is a fairy tale about men who fooled the emperor into believing that they had made him a beautiful suit of clothes. In fact they had not made anything. Implementing Change There are different reactions that individuals experience during time of change. Understanding the emotions of an individual may better help them get through the period of unexpected change. Why I always Keep my Promises Integrity is very important to me, and I try hard to 'do unto others as I would wish them do unto me'. It hasn't always worked that way for me though. Creativity and Innovation Management: Generating Better Ideas Creativity can be defined as problem identification and idea generation whilst innovation can be defined as idea selection, development and commercialisation. There are other useful definitions for both, for example, creativity can be measured according to the number of ideas produced, the diversity of those ideas and the novelty of those ideas. Succession Planning for Your Business - 7 Key Benefits A core activity in many successful businesses, Succession Planning is simple and quick to implement - here are seven reasons why you will find it of great value in your business or organisation. But, you need to lead - it works only as well as the support it gets!TimeSuccession Planning creates capable people. Will a Workplace Bully Bankrupt Your Company? Safeguard Your Company Against Harrassment ClaimsTwenty-five percent of employees suffer with peer to peer bullying and its on the rise, according to the National Institute of Safety and Health. Dina Beach Lynch, a 12 year workplace strategist and mediator, has the answer: Conflict Coaching. Crisis Management Tips The term crisis management has different connotations. In this article, I will try to provide pointers that can be used in most situations:Is It A Crisis In The First Place?:This question is important to ask, as there are many situations that go wrong because the right person to handle it is not around. Lone Rangers Suffer without Tonto A lone ranger is someone who prefers working in solitude or isolation. Sometimes life circumstances can call for us to adopt this attitude. Problem-Solving Success Tip: Use Your Time for Problems that are Truly Important Use your time for problems that are truly important.Hard as it may be to walk away once you're aware of it, just because a problem is there doesn't mean you have to solve it.
|
|
|
| AdaptInfo2.com Grp1 home site map |
| © 2008 |
