An advisory board is a good choice where the family owners or the company need ongoing professional advice and contacts. This is especially the case when their own statutory boards of directors comprise only family members and perhaps a few non-family senior managers from the company. Nonetheless, establishing an advisory board is a major step for any family business. For those family businesses that are considering it, or those that have already done so, it is worthwhile discussing the value an effective board of advisers can bring.
After 22 years of organic growth to become Australia’s largest governance consulting practice, Effective Governance is excited to announce that we now have the ability to offer our clients the extensive legal services of HopgoodGanim.
We are pleased to announce that we are featured among ‘The 10 Most Valuable Consultant Companies’ in Insights Success magazine in the March-April 2017 edition. To read the article in Insights Success, click here.
Better Boards Conference 2017, Adaptive Directorship: Governing for the unpredictable, Brisbane, 28-30 July
The Better Boards Conference is the premier governance and leadership conference for leaders of Australasia’s non-profit organisations. The 2017 conference will be held in Brisbane from July 28 to 30 at the Brisbane Convention and Exhibition Centre.
In a recent article by Andrew Heaton for Nonprofit.news, James Beck discusses what he would expect to see on an NFP website to demonstrate governance and accountability to it's stakeholders. Click here to read the full article.
Effective Governance is delighted to welcome Melissa Grundy to the staff. Melissa has extensive governance experience having worked as a company secretary and with ASX-listed companies for many years. Melissa commenced her career in insolvency accounting, before moving to the Australian Stock Exchange (now ASX Limited), where she accumulated over 15 years’ experience addressing continuous disclosure, corporate governance and listing rule compliance issues, and participated in ASX policy development. She has worked as Company Secretary at Bank of Queensland Limited and on contract as Assistant Company Secretary at Caltex Australia Limited, both ASX-listed companies. Melissa is also a member of the Queensland State Council of the Governance Institute of Australia (GIA) and a guest lecturer for GIA. Welcome to the eG team Melissa!
Written documentation is essential for effective and consistent communication within organisations, and the provision of clear, written policies and procedures that reflect current practice and community expectations assists in accountability. Further, written policies and procedures provide tangible evidence of intended practices that are consistent with the organisation’s values, and should be regularly reviewed, evaluated and updated.
Actions speak louder than words, but unfortunately not nearly as often in corporate Australia. We are faced with an ever-growing trend to substitute the latest jargon, cliché, corporate speak and weasel words for action.
By James Beck and Jennifer TunnyA board charter serves a number of important functions for your board. For example, a charter:
- Serves as a reminder for the board of the legal framework within which it operates;
- Documents the policies the board has decided upon to meet its legal and other responsibilities;
- Assists the organisation’s leadership in delivering good governance;
- Is a point of reference for disputes; and
- Serves as an induction tool for new directors and senior managers.
A common refrain I hear from CEOs and senior managers when discussing their boards is that they micromanage, i.e. the directors delve too deeply into operational matters. This is not only frustrating to management, but wastes the board members’ often limited time to do their actual job – directing, NOT managing the organisation.