Corporate governance can be applied to create and administer ‘best practices' within organisations. In our experience, a culture of best practice goes beyond the ‘letter and spirit' of legal and regulatory frameworks – Such organisations proactively and consciously seek to apply responsibility, accountability, transparency and fairness in the course of doing business or providing a service to the public at large.
Corporate governance is also a key element in enhancing investor and other stakeholder confidence, promoting competitiveness and ultimately improving organisational growth.
Assimilating best practice into the culture of your organisation shouldn't be seen as a hindrance or inconvenience; rather it should be seen as an effective way of improving productivity and achieving service excellence. In the long run growth, profitability and competitive advantage will be enhanced.
Also remember “prevention is better than cure”
That said we believe that there is no ‘one size fits all' approach to corporate governance – different organisations across the globe require different approaches, in accordance with their unique needs.
With the pressures on business owners greater than ever, we recommend that managers and leaders alike should call upon the experience and skills of management consultants to extend the competence of their management team to deliver best practice.
To guide your organisation through the maze and complexities of corporate governance and best practice please feel free to contact us in the strictest confidence.