Introduction to Corporate Governance



so in this module we're going to discuss forward governance something that is near and dear to my heart I actually started my doctorate in corporate governance or I switch to arguably the coolest field management entrepreneurship but I'll talk about that in some of my other videos so first of all what is corporate governance let's just give a basic definition of corporate governance it's usually considered a subdomain of strategy and corporate governance is this exercise of authority over the members of the corporate community based on formal structures rules and processes so how do we manage corporations in essence and this Authority for managing corporations is based on the rights and duties of shareholders the board of directors managers and to an extent as well as employees and the government so in this module we're going to discuss the tension between those parties the Board of Directors the shareholders the managers the employees and the government will also look at what actually order of Directors is and what it does we'll examine the role of managers and a trustee will look at some of the legal documents that are used to define the responsibilities that the various parties involved in corporate governance and we'll talk about some of the interesting aspects that come with the discussions of managerial compensation and some of the issues tied to that it's going to be very interesting module and looking forward to seeing you next few videos

IMD MBA – Leadership Class



a good morning so I know the experiential is over but I'd like to begin with an experiential exercise this morning a very short one yeah so could I ask you to stand up behind your chairs push all your bags and luggage underneath the table yep just so there's plenty of space because we're going to walk around the room a little bit alright so here's an exercise which I'm going to take part in and Antonio's going to take part in but not the to cameraman I'm not going to take part in the exercise okay I'm going to do the exercise the instructions they'll be very kind of short instructions yeah and then the exercise will go about four or five minutes something like that then it'll be over and done with and then we will talk about it okay so here's the instruction I would like you to move around the room and say hello to as many people as you like as many times as you like with one constraint and that constraint is you may not use your voice you may begin okay so what I want you to do now is just if you got a piece of paper just take some notes as to what that what that experience was like but I don't want you to kind of I'd like to invite you to do it and I'm in a mindful kind of way and so let me kick off by telling you what the experience was like for me yeah I stood down here a number of people walk straight so I said very clearly and turning on myself we're part of the exercise and people walk straight past us yeah what straight past me I know I know that that was the most unseen sincere I'm sorry Ben I've ever heard yeah so people people walk past me but then it gets kind of so so that's actually quite normal so when I do this exercise with executives and since I know it's exactly normal they just walk straight past you because there's something about authority that kind of keeps people at their distance you know but then I'd like to kind of go into a couple of other sort of extent amounts that go on for example what goes on when I go up to Schwar and I did this with a few people with Lupo and a few others I put my hand on here and I'm waiting for child to put his hand on my hand too and he doesn't he doesn't but but what what does that feel like what does it feel like when I see Agnes coming down she catches my eye but give someone a hug in front of her and then turns around and walks back the other way what does that you remember that don't you yeah yeah what does it feel like what does it what does it feel like you know when who was it came down with the careened comes down with a big hug you know she shakes her and then she boos for with the big do I hug her back wait a minute you know I'm the authority figure I should protect I shouldn't do this sort of thing yeah and then doraville comes down is he playing with me or is he sincere all these thoughts all these thoughts are going through my mind do i what's the nature of our rage so what I'd like you to do now if can you get to that level now I think what just happened five minutes because there was an awful lot that just happened yeah and we're all just being normal human beings it will be noise so if you'd like to write a few thoughts down what did it feel like during those five minutes personally I'm always glad when it's over yeah and then discuss with the person next to you what thoughts and feelings went through your mind in those five minutes so when you're ready if you want to just chat amongst yourselves just share it while other people are still reflecting just share what the experience was like so let's just deep brief what what was going on in in the in the class in that moment so what I've written up here is a I asked you not to use your voice so you develop another language vamps all voices it's a set of symbols signals which we use to communicate to each other I take that major form of communication wait you very quickly find out the mechanisms all right so we have nods we have boughs we have hi-fi's eye contact which goes with some of these handshakes double handshakes back slaps some pretty strong scary back flapping going on there kisses hugs anything else you want to add to that yep sorry fist this what do you call that a fist fist pump right sorry god I feel old fist pump yep B sorry there was a chest bump where does the chest pump go in here back slap yep smile okay okay smile actually there's hundreds you could add in here this there's tons of little nuance signals that were sent bogging along the prosper what is that it that's a sir what does it mean Oh okay Star Trek yeah right okay we're run when I write the only thing I want at any point I we develop a vocabulary for saying hello to each other and I've drawn it in a kind of a continuum along there what is the underlying dimension to this continuum connection and intimacy yes so generally we'd call it technically the term we call for it is intimacy okay now so we develop interestingly interestingly across most cultures people will say those signals are fairly consistent yeah that that continuum is fairly consistent once you take voice away these things the only debate I tend to get with French people who tend to put the kiss before the hug and anglo-saxons say no the kiss is definitely after the hug yeah so and there are some few nuances around bowing and smiling and in Asian and Asian countries about what they actually mean that's that's the easy part here the question is what does this stuff all mean yeah so you have 91 people counting Antoni and myself that you could potentially say hello to yeah do you say hello the same way to each person did anyone say hello to the same to everybody in the same exactly the same way now so the first thing we noticed is you differentiate yeah how do you know how to differentiate between one person and another how do you know so gender can be it was great yeah so so gender is one way what's another way you might do it mother okay so it depends on the reaction of the other very important point now the other of course is thinking the same thing there depending on your reaction so how do we figure this out how do we figure it out so eyes yeah so it's a little bit of eyes then what you try yeah so can I suggest you try it you take a risk now you take a risk yeah or you play it safe yeah so you might play it safe and wait for them to move first or you'll take a risk and be an initiator wonderful what else how else do we know how to differentiate like this what's the existing relationship yeah so you'll just know this is a person I'm going to hug or you'll just know that this is a person that you know will will be formal about this okay you just know that yep Peter why don't you do it based on what you did to the previous person huh all right so what would we what would we find you doing if you did something to the previous person yeah let's say you got to some person you go hug and then you go oh and then there's Ben oh my god is Ben but what is how you give me a hug even though actually you may not want to why would you do that why would you do what you just described cause that does have a zero yeah yeah yeah so discomfort yeah anything else do you think they don't want to establish a pattern to zoos to go right yeah so you stick with the pattern yeah so you start using the same use the same vocabulary so let me exaggerate this a little bit yeah because I do see people doing this in when they do this exercise they get through the whole exercise not differentiating from it I'm kind of saying when I do that sorry doraville I'm saying to you let's make it really clear here no ambiguity no risks I'll do this you'll do it back yeah and we'll get through this process do you see what I mean the subtlety of it okay so use the same vocabulary might be a way of protecting yourself from any discomfort if I do this yeah I'm actually making sure no one can make me feel uncomfortable is this stretching it too far this is what goes on right second-by-second every day yeah I contacts pulled away towards each other and of course we're all grown-ups we deal with it yeah we're all mature we can get get on with it yeah is the the thing that I'd like you to get in touch with is is feeling of discomfort because in this exercise there's enormous potential for discomfort yeah and yet we have to differentiate between people so some people we might make feel a little bit uncomfortable and other people we might feel more comfortable would it be too much of a stretch that basically the emotions that you feel during this exercise are either acceptance or rejection is that stretching it the basic deep down feelings that are there even though it's kind of like just a silly exercise that's what you feel on a second-by-second basis as you travel through life yeah and that this feeling here is the uncomfortable one yeah it's the uncomfortable one it's the one that you would like to avoid in fact it is the basic human need to avoid rejection from the moment you're born for the moment you emerge from your mother's womb and you grab onto that breast and you say food security safety that search for not being rejected tends to stay with you through life we just get more adult or dealing with rejection the connection between this experience this feeling of rejection and leadership is absolutely profound you couldn't really debate it that is what leadership is at the end of the day it is exposing yourself to rejection you said it the wonderfully yeah it's this idea that what you have to do is you wait for the reaction of the other well what's the other going to say oh if you're always going to wait for their reaction you might play it safe yeah at some level yeah in what you do so that's that's how I want to talk about this topic of trust and connection and then get into the idea of inner strength because I think it's very central to – what – your your assignments and the work that we'll do over over this you

Corporate Governance Matters



this book is different from other corporate governance books on the market and that it's really evidence driven the way we structured the book is around facts and evidence so what we do with each section is we start with an idea we explain how it works and what the positives and the negatives are of different approaches to governance and then we look at the data on how prevalent certain things are out there in the market and we follow it up with academic research that tests whether these things are positive or negative and we draw our conclusions from that a lot of the books that are on the market today are really opinion based so they start with a central premise and then the author spends the majority of the book defending why that premise is correct a lot of it is based on that person's opinions and in some cases biases but they're not really evidence driven and in many cases those conclusions may or may not be true but they're not really tested I think the most surprising finding from the book is that a lot of the focus is misdirected in governance today a lot of the attention is placed on features of governance so for example what's the structure of the Board of Directors how much compensation is paid to CEOs and things like that and a lot less attention is paid on the factors that really matter and these are the processes by which the company actually makes decisions so for example a lot less attention is played is paid to the strategy and risk management functions and those are areas where boards can really stand to improve another area where boards can stand to improve is with its CEO succession a lot of CEO succession planning within corporations is was shown to be a more check-the-box solution and not really what we expected we expected that companies would have operational plans in place things that they could do if the CEO suddenly stepped down and they needed to find somebody right away and I think going forward a lot can improve with a new focus on the features and of how governance is run rather than just these superficial factors I think the most surprising finding of the research is that how little impact the research has actually had on practice there's tons of academic research across accounting finance economics corporate strategy and things like that lots of careful thought but I don't think that research has had that much impact in the way people actually think about it you know the Blue Ribbon panels that are filled with clearly well-known people very smart very successful when you read their reports there's actually not much discussion of of the research that either supports and doesn't support some of the findings I think one of the things that we hope the book does is provides a synthesis of the research in a digestible form that the press directors lawyers you know government regulators and alike can actually see that there is a there's a body of work out there that informs you know you don't have to do it yourself it's already being done as part of the scholarship in universities so when we we're actually a little surprised how little impact that sort of sort of had in in these things other kind of more practical things that and we found surprising are the inability of boards they actually put in put in operational succession plans this is a really a key part of risk management and it's it's a pretty it's a pretty serious part of of what boards do I mean ultimately they evaluate and vet the strategy the organization they kind of hire and fire the top management and so you know one of the two issues seems to be lacking a little bit that boards are struggling with lots of things with regard to CEO pay now that's not that surprising in and of itself but the SEC has recently required boards to talk about or the pay practices motivating managers to do excessive risk-taking that sounds like something that board out evaluate but I think we don't really know at this point how do you define excessive risk-taking you know what would it look like you know and then the issue is you know how can you evaluate that and so we actually have some proposals or you know sort of hopefully informed guesses about you know new ways to think about pay how much incentive are you really providing and when it when are you in a situation we start worrying about excessive risk-taking one of the examples that we have in the in the book has a deal with Eli Lilly and they they went through and did a very detailed assessment of excessive risk-taking and their response was to basically you know take out all the lots of the incentive contracts so you got rid of stock options they capped off bonuses and things like that now that may be fine for Eli Lilly but you kind of wonder about what happens if a lot of companies did that I mean it's the incentives that he actually drives the innovation that really motivates people and I think taking these things out is not necessarily a good result for shareholders it may mitigate risk but it may substantially reduce the returns for companies as well we employed a very rigorous and methodical methodology and it took a long time to do that I mean this book was almost three years in the making and with each feature in governance we went through and collected all the literature both from academics and professionals we looked at the data that was available and we looked through you know the popular press to find examples of things that companies are specifically doing in these areas and we also added interviews that we conducted with third-party experts consultants lawyers and practitioners including directors and executives and we took all that information and digested it together in a way that we believe gives the most comprehensive look at all areas of governance in the media older discussions and things like that there's I think there's lots of things that are that are missing first off I think people are trying to do the right thing you know you want to highlight and penalize people where they've had bad governance and they're doing kind of bad things so I think that that's a good thing the issue is what mechanism do you want to use to isolate the ones that are the good ones for the bad ones I think what's missing is everybody or most people out there are really trying to find here's a very very simple yardstick for measuring corporate governance do you have this many directors of this type or you know do you use the pay of this form things like that but I think the problem is it's a lot more complicated than that there are certain differences in organizations and people corporate strategies and things like that that that that basically make a simple yardstick a place to start but not a place they end up you have to think more carefully about what are the choices and it's not a one-size-fits-all set of choices for evaluating corporate governance boards face lots of sensitive issues in and the issues that are really sensitive vary over time in the 1990s 2000 2000s you know we had lots of auto failures the board was very concerned about our is the audit function appropriate do we have sufficient internal controls the Audit Committee of the board was under tremendous scrutiny and now what you see is that the Compensation Committee is that is the committee and the decisions that they're making are the ones that are tremendous scrutiny is it CEO pay too high or repaying the people the right form and there's lots of people on the outside both media but also proxy advisory firms that are that are weighing in on this and it's it actually now is going to shareholder vote through the so-called say-on-pay so I'd say that's a tremendously sensitive issue for the boards the other issues that are that are sensitive our risk management do we actually know what's going to happen if we have a subside a hiccup in the the inputs or the outputs of the firm you know if you have an earthquake in in Japan how how does it affect where they're gonna be able to get our raw material do we have plans in place and things like that what what happens to us if all the sudden interest rates go up or we lose a major customer you know what is our strategy capable of dealing with that so lots of boards are trying to deal with with risk management in one key part of it that we've seen certainly around around the country recently it's a session planning do they actually have somebody the complot that's going to plug in do we know who that person is how comfortable do we feel about that as we replace management I think what's going to happen going forward is I think the next committee of the board is the nominating Governance Committee this tremendous scrutiny now about do we have sufficient diversity on boards do we have the right board members you know the people that come up for evaluation for new board memberships or actually come up through the govern the nominating Governance Committee so how that committee operates so they're doing the right thing are they picking the right people those kind of things I think are clear on horizon the book has lots of important takeaways one of them is that I think you want to be very cautious following blue-ribbon panel recommendations or you know things that you read in the press or whatever presumed to be best practices and when we look at these things in the book from a research perspective if a lot of these things just don't hold up some of them are clearly fine but some of them some of them not so I think the the book really lays it out in a pretty neutral way and gets in there and says what do we actually know about things like should the CEO and the chairman the board be separated you know what do we know about how Jesus structure pay and things like that but I think that the primary message of the book is you have to think a little harder about governance choices you just can't fall all these these standard recommendations yeah in terms of pressing development so the thing we worry about is for lack of a better term the federalization of corporate governance we certainly have seen sarbanes-oxley and go into place it was directed mostly at the accounting function and other other features of the board more recently the the dodd-frank bill which is which has been passed at some form all those being litigated really opens up the board to to lots of inquiries that are basically imposed on them by the government so one of the things is they're opening up proxy access under the rubric of shareholder democracy so if if you your shareholder you ought to be able to vote you know in America and and have some impact on these things with regard to directors that are elected and things like that one of the proposals is if you've owned three percent you or a group have collectively owned three percent of the company for three years you can nominate 25 percent of the board for election so instead of having elections where they're mostly uncontested accepting proxy contests you have a situation here where the outsiders can bring board members to forward for potential elections to the board now that's something that's being imposed on the companies that's not something they would do necessarily as their free will and you kind of wonder you know is that a is that a good consequence or not basically we've actually done a little research around this we find that those kind of proposals seem to be greeted with big negative stock price responses for companies that look like they're gonna be subject to these to these criteria so there's a case where you know the government has in some sense decided that's a good idea have kind of passed this thing but it's like the research results are suggesting maybe it's not such a good idea so hopefully you know the research like that will inform regulators in the government you know what might be a good thing to do but I think right now in the administration there's there's a lot of interest in imposing govern criteria on company that that really you know could have been voluntarily adopted and weren't and that you know the I don't know the trillion-dollar question is is that is that good or not is it better to have regulation or is it better to let the the market operate of course that's the age-old question in economics and I think here's a case where I think we can't weigh in a little bit on this and but I think the federalization of corporate governance is a is a big

LEADERS: A Combined Game – Brettspiel – Essen 2016 live



hallo freunde deiner logo unterhaltung willkommen zurück auf der essen auf der sl messen oder der messe in essen ich bin ich bin jetzt mal wieder hier vor der kamera diesmal mit einem spiel wieder dass ich selbst entdeckt hat er gestern abend von denen wir jetzt etwas mehr erfahren können dafür manfred und major peter nun geht es in meinem spiel also lieh das ist ein compliance game combined heißt beispiel das klassische brettspiel in kombination mit einer app wobei die app läuft für android und ios gericht auf tablet und smartphone das wird nur ein gerät benötigt und das gremium spielt selber ist schon seit 16 spieler und jeder spieler mit einer nation zum beginn an sehr schön unterschied zur risiko es gibt nicht nur nicht nur leute und panzer flugzeuge das genauso im unterschiedliche einheiten typen jeder einheit hat unterschiedliche stärken und schwächen das sollte davon leisten dürfen der über drei treffer seiten der bald sein traum aus der nähe an infanterie quasi von drei weiße seiten und drei volle der gral würfel morgens markt besser sah es für banzer der hat vier treffer seiten ist ja schon ein bisschen stärker pustet aber auch mehr bis hin zur stärksten einheit das ist der flieger mit der doppeltreffer und eben auch vier seiten nase irgendwie fest der mittlere stärkste würfel den osten auch gleich fußsoldaten panzer und hier noch mal als über sieg damit man nicht vergessen kann und hier sind aufgestellt in einem base camp ich das richtig sehe und was mich vielleicht noch viel mehr interessiert john f kennedy man hat ja anscheinend auch noch und welche rollen wie funktioniert das denn noch jeder spieler will eine von sechs nationen aus und jede nation hat eine spezialfähigkeit das heißt das spielt sich ein bisschen anders das ganze spiel ist angesiedelt im kalten krieg dass der auch die lieder aus dieser zeit eben john f kennedy für die united states die können mehr truppen ins spiel bringen bis ins um die kita kurtschew für die russen die kgb spiele haben das hatte zu dieser zeit damals gepasst hat sonst haben wir noch china mit der volksbefreiungsarmee deutschland natürlich mit dem wirtschaftswunder frankreich und großbritannien mit die kontrakte da hinten liegen auch so ein paar päckchen also ist es erweiterungen bus oder die s mittlerweile haben fünf erweiterungen wie gesagt jeder nation spielt sich ein bisschen anders und bringen zusätzliches flair und ja mal träumen mitgebracht das ist super das war die erste erweiterung mit fidel castro mit argentinien haben die mieter bewohnen als erste weibliche inneren im spiel und dann haben auch japan weiß links an den kaiser hirohito die an die kamikaze piloten spezialfähigkeit gut aber bevor sie details verlieren was mich am meisten interessiert das spiel verwendet auch eine etwas bringt denn die app zusätzlich was macht genau unterstützt um einen spieler beim spieleinstieg aber der spieler dass jeder spieler bekommt einmal in seiner runde auch die app und kann dass eine nation verwaltung der süden seine ressourcen hier zur verfügung hat das sind die produktions punkte da vielleicht kurz dazu gesagt jedes gebiet das der spieler besetzt hält bekommt eben entsprechende punkteanzahl die inflation beginnen diese punkte karten ausgeben um neue truppen zu kaufen er kann versteckt forschung betreiben um seine nation zu verbessern wir haben drei verschiedene forschungsfelder er kann diplomatinnen und andere spieler zum beispiel boykottieren oder eine allianz an diesen spielen der allianz wie gesagt das passiert alles versteckt was in der app ist das heißt am spieltisch wissen die spieler nie genau gerade mit ihnen zu vernichten dann haben wir noch spione die man anheuern kann und dann zum beispiel andere spiel das apportieren kann damit offene spieler würde nur die nachricht bekommen erst apportiert worden weist aber nicht darüber lebte war das da kommt er nochmal zusätzliche dynamik dann haben auch den letzten punkt da sind missionen das sind keine aufgaben die man erfüllen muss viele aufgabe die man auf 5 steigt mit dem rang auf das wird dann hier mit dem markt symbolisiert hat man den höchsten rang erreicht man das spiel auch gewonnen die zweite möglichkeit zu gewinnen ist eben über die forschung wenn ich alle neuen forschungsstelle habe ohne militärisch wenn ich eine gewisse gebiets aufgenommen habe wie läuft der spiels und dann erfahren also verkleben habe ich verstanden genau die app führt durch das spiel das ist der erste schritt ist man die punkte vergeben dann sagt einem die app dass man alle einheiten vom spielplan bis auf eine zurückzieht in seinem besten der nächste schritt sind dann öffentliche nachrichten wo die app informiert wie viel einheiten dass ich leute dazubekommen das ist was ich gekauft habe wenn ich allianz anfragen habe das dann schon ein versteckter nachricht wenn ich spieler rekrutiert habe oder manager etwas aus mir an dann kommt der brettspiel phase das nicht regte kurz auf die seite und darf dann beliebig viele einheiten aus meine beste auf meine gebiete bringen einzige einschränkung beim platzieren ist ich darf ihn kein gebiet mehr einheiten als das gibt punkte hat zum beispiel ihre new zealand hat nur 1 1 stehen das signalisieren dass kein einziger genau aus ich habe entsprechend ausgeforscht zum beispiel die zweite stufe im militärischen bereich dann darf ich das nicht mit um einen zu überschreiten oder auf die spezialfähigkeit von den amerikanern gesagt auch dass ich dir jetzt limit um ein zu überschreiten darf ich mache das dann gleich einmal plaziert meine einheiten hier möchte man hier europa holen weil da bekomme ich extra punkte ganz wichtig neben dem platzieren belastet auch immer einheiten hier in bester weil mein base camp die einheitlich zur verteidigung nutzen kann wie das funktioniert sehen wir gleich glas jetzt gleich mal den matchplan attackieren mit einer infanterie einheit und hier nämlich blutlinie und dem band sein nachdem ich alle bewegungen ausgeführt habe die führung auch noch was machen und wird sie einhalten von hier und brasilien wenn ich alle bewegungen ausgeführt hat ist nun der gegenspieler an der reihe er darf nur sein im basecamp einheiten zur verteidigung platzieren wiederum muss ich beachten die anzahl wie viele grenzstellen darf natürlich habe es je nachdem wie viel ein ich mich noch zufügen habe ihm die möglichkeit hier zu verteidigen wertersatz machen machen natürlich will ich auch brasilien noch verteidigen da ich sonst einen ganzen kontinent verlieren somit würde ich auf die kontinente punkte verlieren was man natürlich doppelt weh tun würde gut wenn alle einheiten platziert sind wird nun die würfel das heißt die für viele informieren leisten löffel frieden ganz seinen grauen frieden flieger einen schwarzen ich kann hier oben an hier habe ich einen traum und einen schwarzen würfel wir würden gern mal dass sie nach sehr vielen treffern auf beiden seiten ausgehen so ein bisschen zwar ins bild das war der zweiten das heißt ich habe jetzt drei treffer die würfel dass der gegnerische spieler und freiheit werde natürlich schwache einheiten rausnehmen weil ich mit den starken und auch weiter kämpfen will so lange weil wir einer ja noch übrig bleibt das heißt mit dem flieger kann ich noch mal angreifen bzw verteidigen und auch manni muss jetzt drei einen rausnehmen nachdem auch nur noch zwei da sind eben auch kein treffer das heißt nicht im firmennamen klein halten willkommen zurück zum vorrat minister kampf in diesen gebieten abgeschlossen ich habe leider nicht gewonnen wir kommen zum nächsten gebiet hier habe ich eine infanterie einheit und einem panzer das heißt einen weißen und einen grauen würfel ja okay das ist doch mal kurz über die sie faktisch aufschriften wie viele patienten das spiel kostet hier auf das spiel 49.90 normal 59 90 die expansions kosten jeweils 92 und wo muss man hin wenn man es bei kauf möchte auf unserer webseite www bindestrich gegen dot com da gibt's auch einen laptop da kann man es kaufen auch amazon das spiel offensiver und mit zahlreichen kleinen jobs sport gibt es auch und hier ein essen rechenstand habt ihr alle drei 116 super dann sag ich mal vielen dank wir haben hier noch ein kleines kunde das durchspielen zuges aufgebaut ist dass wir das natürlich da denn sie es gerne verlosen für jemanden der vorbeikommt und leaders ist ein winzer verlag von games und wir sagen als ken worten als erstes williams war ich sagt der absicht mitnehmen vielen dank an alle anderen doch bitte am stand verpackung wir haben auch ein gewinnspiel könnte es auch noch mal gewinne natürlich inklusive tablet oder auch mit allen erweiterungen also schaut vorbei spiels mal eine rund 80 per gewinnspiel einen letzten punkt hätte ich noch das ist diese gerne sport karten die es jedem spiel beigelegt das heißt hier sehen sie auch unsere prozent von tag wenn fragen während des spiels auflaufen können sie uns direkt kontaktieren und normalerweise in 15 minuten aus dem an 32 und der früh das sind schlecht erreichbar aber da helfen nur noch gleich trainieren seine regel frage auftaucht dann kann man gleich weiter spielen okay dann sag euch nochmal vielen dank und wir sehen uns gleich nach dem kurzen umbau wieder ins team

What is governance?



you hear the word governance a lot these days but what does it really mean and is it as important and serious as it sounds board governance or corporate governance simply refers to the job of a Board of Directors now if you look at the position boards holding corporations you can see that they are sandwiched between shareholders or some kind of ownership on one side and the CEO and staff on the other side since the ultimate authority for the company or organization comes from the ownership naturally the governance job of the board comes down to three things one have ongoing dialogue with the ownership to discern their expectations for what results the organization should produce to translate those expectations plus other information and the directors own perspectives and values into written criteria for success and three check to see that those criteria were met in a nutshell that's it board members can do other things like volunteer to help staff or get involved with fundraising or public relations but the boards core governance rule is ownership linkage policymaking and monitoring policy compliance now you can see why governance is so important the job of the board is at the front end of what happens in organizations sometimes a really strong CEO can compensate somewhat for a weak Board of Directors but for any organization to truly live up to its potential and achieve relevant results good governance is critical this is Susan Mogensen with brown dog consulting