Effective Board Culture

Words: 1022
Pages: 5
Open Document
Culture and Effectiveness of the Board
Key points
" The chapter four and five of "The practitioner's guide to governance as leadership" offers several interpretations that depict how to achieve an effective and uttermost board performance. The author revealed some imperative motivations for effective board performance and underscores that "an effective board pays attention to the board as a social system" (Trower, p. 86). The affirmation that a board is a social system involves two or more individuals interacting directly or indirectly in a bounded situation to sporadically govern (Trower, p. 86).
" The second aspect of an effective board is that they can move from being a group to being high-performing teams (Trower, p. 88). For example, …show more content…
135). Sense-making serves numerous important functions. For example, from satisfying a need to comprehend toward helping us test plausibility; second, from clarifying the past, but not necessarily making it completely understood towards anticipating the future; third, from unleashing a process of deliberations about plausible explanation of what is happening to guide the exploration of information; and finally, from helping group find common ground and shared meaning (Trower, p. 135). There are two essential things to bear in mind about sense-making. On the one hand, it is not about truth or getting it right; rather, group sense-making is about the continued drafting of an emerging story so that it becomes more comprehensible, incorporates more of the perceived data, and is more resilient to face criticism. On the other hand, sense-making is more about plausibility than accuracy (Trower, p. 135). Therefore, in its sincerest sense, sense-making is learning in action. In brief, sense-making depends on our socialization: our upbringing, education, culture and the social norms that shaped us, as well as the people we are currently interacting with, and have a huge influence on our interpretation of the …show more content…
Undoubtedly, the cultural strength of an organization is the responsibility of the organization's leadership. The board, which sits at the apex of the organizational hierarchy with ultimate authority and accountability for the organization, is part of the organization's leadership along with executive management, and therefore, must have a responsibility in developing and monitoring the culture. An ancient adage says that "Actions speak louder than words." When the actions of board match the corporate message, the roots of corporate governance culture begin to grow and extend to other parts of the organization and its network. Therefore, developing a culture of corporate governance starts at the top, beginning with the board of directors and the executives. A good start to developing the proposed culture of corporate governance should begin with words from corporate leaders and
Show More

Related Documents: Effective Board Culture

The Importance Of Risk Management

business activities. The firm will require to identify that culture is the key element in providing a dynamic, equitable and balanced environment where consumers’ interests are given the appropriate level of consideration. Improved understanding for its staff and management is needed therefore will require to implement a Compliance driven training regime that promotes essential elements such as TCF. An inherent function within this change of culture would be to adopt a ‘Compliance Champion’ in each business…

Words 1055 - Pages 5

The Importance Of Corporate Governance

Introduction: The purpose of this essay is to recognize the importance of structuring the board to add value as well as establishing an effective risk management and internal control in corporate governance area, and to provide reasons why this area is of most importance in protecting corporate failure. To support the recognition and the reasons, theoretical analysis would be presented in this essay such as agency theory. In addition, the actual corporate governance practices of Australia and New…

Words 622 - Pages 3

Newcrest Case Study

conformance to the specific standards, rules and regulations. Newcrest’s effective distribution of rights and responsibilities among different participants such as the board, managers, shareholders and other stakeholders have enhanced their economic performance and public trust. It is important for Newcrest to clarify their code of conduct, rules and procedures for making corporate decisions on corporate affairs. Effective corporate governance provides a structure or framework for Newcrest in setting…

Words 970 - Pages 4

Essay on Allah: Employment and Effective Recruitment

vital for a company to hire the right people. For most businesses, an effective recruitment process does not only ensure the companies’ competitive advantages over that their competitors', but also prevent substantial losses from taking on board the wrong people. For many companies, labor cost represents the majority of their expenditures. It costs a lot to hire and train new employees. If the recruitment process is not effective, those costs become sunk costs. The employers, then, have to spend…

Words 292 - Pages 2

Essay on RBC Project

3 3.1Composition of its Board of Directors 3 3.2 Committee Structures 3 3.2.1 Audit Committee 3 3.2.2 Risk Committee 4 3.2.3 Corporate Governance and Public Policy Committee 5 3.2.4 Human Resources Committee 5 3.3 Major shareholders 6 3.4 Review of RBC’s Governance 6 4.0 Ethics and Social responsibility 6 4.1 Ethical and socially responsible 6 4.2 Negative ethical or social responsibility issues 7 5.0 Organization 8 5.1 Organizational Structure 8 5.2 RBC’s Corporate Culture 8 5.3 Review RBC’s organization…

Words 3001 - Pages 13

Essay On Community Engagement

require highly effective leaders able to create the conditions for rapid and sustained change. Rather than changing one or two characteristics of the school, successful school turnarounds look at simultaneously improving leadership, expectations, teaching and learning strategies and cultures, school culture and relationships with the wider community. Jensen (2013). To successfully impact student outcomes leaders in ‘turnaround contexts’ must, drive a fundamental shift in school culture and instructional…

Words 4242 - Pages 17

Hollate Spring 2015 Essay

Under COSO framework, effective internal control system components are derived from the way the company is managed day to day tone at the top continuous assessment of risks of the various processes design and implementation of controls gathering and sharing of information with internal and external users effective monitoring of these controls by management 5. Management Team ● Brennehan (CEO):10 years at Hollite; former CFO; firsttime CEO; took company IPO; supported by the Board ● Blackburt (CFO):…

Words 714 - Pages 3

Jet Propulsion Laboratory Essay

recommend the launch for the MBE mission. As stated in the case study, Gentry Lee is introduced to the project with a significant amount of experience working with NASA and interplanetary exploration missions (Kaplan and Mikes, 2010). Multiple review boards took place to discuss in detail the consequences and likelihood of risks occurring. Tiger teams were established to find resolutions to existing problems weeks before the launch date. The case study eludes to a high probability of the budget increasing…

Words 1694 - Pages 7

Cyber Risk Management Case Study

authorised individuals. This can be done by password protection at every level for entry into computer systems. There are two main elements to cybercrime prevention which an organisation should have in place a) A sound ethical culture: An organisation has to instil ethical culture by periodically training employees to make security their watchword. All organisation employees should be educated and made aware of Cyber security policy and apply on their day –to-day work. With all employees knowing and…

Words 924 - Pages 4

Organizational Behavior Research Paper

areas in order... Organizational Culture Organizational culture influences many aspects of workplace life. A workplace with strong beliefs, values, behaviors, ideas and expectations define an organization. Well-communicated beliefs, values, ideas and expectations influence employee's behavior and determine how employees communicate with others throughout the organization, thus defining the organization's culture. Over the years, the topic of organizational culture has been studied in many disciplines…

Words 4866 - Pages 20