April 4, 2017
“The first step is ensuring that the agenda for the meeting is set by the board itself and not by the executives”
The Grid: There is a lot of focus on the principles of corporate governance frameworks these days, where board members are increasingly being scrutinized for holding a company’s executive team to account. Just as importantly, however, you advise that boards should also focus on the methods of effectively ‘operationalizing’ these principles to curtail the CEO from taking over the meeting and to keep waffling directors in check.
Dr. al-Binali: One of the crucial operational aspects of corporate governance is managing board meetings.
Board meetings are the focal point for dissemination of performance information, discussion of major issues and strategic decision making. (more…)
“People do not do business or cooperate with those they don’t trust. Your values come across in everything you do”
The Grid: Most entrepreneurs have emerged from a corporate, where they somehow imbibed, by osmosis, the core values or fundamental beliefs of the organization. Many would have viewed them with cynicism, no doubt, if management didn’t live up to the value statement.
When entrepreneurs start their own entrepreneurial journey, articulating core values for the business can take a back seat because there is a lot of other stuff to think about. At what point do you think entrepreneurs need to get the values for their startup, this unwavering guide for right and wrong, in order?
Dr. Constantine: Well, first of all, the size of the company shouldn’t matter. Business ethics and governance define the way your company operates in relation to society and has a far-reaching impact on your reputation. Understanding, communicating and living your core values is crucial and guides you when faced with a conflict of interest and other challenges. It’s a requirement in starting a business and the only way to build your reputation. It is not something to can “afford” or ‘get’ over time. (more…)