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Mentoring Circles Topic 5: Commitment
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Overview

Legally, directors are committed to act in the best interests of the company, simultaneously taking stakeholder perspectives into account in decision-making and governance processes.

 

Directors need to be committed to sound corporate governance processes, and unquestionably committed to act within legal requirements. This defines in essence a commitment to ethical practices. They simultaneously need to be committed to achieving the company’s vision, ensuring that the company strategy is appropriate to achieve the vision, and that management follows through to deliver on the strategy. Commitment to upholding company values is intricately part of all other commitments.

 

Board commitment is seen as the key driver of any successful programme within companies.

 

 

King Code of Governance principles (King III)

  • Principle 1.1: the board should provide effective leadership based on an ethical foundation.


Key Focus Areas

The actual individual problems to be mentored will be raised during the Circle. The following are intended to serve as thought-starters only:


  • Are Board members all committed to the same issues and approaches? How is this determined?
  • How is director commitment measured, if at all?
  • Do stated commitments always reflect genuine intention or are commitments made for the sake of reputation management?
  • Is verbal or written commitment always demonstrated in actions and behaviour? If not, what prevents the translation of intention to action?
  • How do directors balance commitment to company values and their personal values?
  • Should demonstrable commitment at Board level be rewarded financially?






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