Developing good governance

Trust & Confidence have been the biggest casualty of the recent global financial crisis – both private and public institutions now attract much greater enquiry – they’re expected to explain
their business practices – disclose key relationships – validate their remuneration models – discuss their succession policies and make a wider contribution to society.

Social media and digital technologies are transforming the way we communicate – people can share and learn a lot faster than ever before. Therefore, pressure to be transparent, accountable and socially responsible is greater than ever been.

How does this affect you?

Organizations must learn embrace the new regulations and technologies, learn to manage new risks, and prepare for the future with robust succession planning. Ultimately, to survive they will need new governance models.

Just compliance won’t be enough, top management will also have to undertake additional supervisory responsibilities. They will have to communicate; processes, organizational culture, and governance policies to all stakeholders. As well as going beyond traditional reporting – addressing all issues such as sustainability and contributions (tax … etc). Demonstrating good governance encompasses creating a true dialogue with stakeholders, not just communicating openly.