KAMPALA – 1st May 2020. Summit Consulting Ltd, summitcl.com, a professional services firm offering proactive forensics and fraud management services, corporate strategy, and risk advisory and IT security services is pleased to announce the appointment of a new Director, Pius Babyesiza. Pius is a Chartered Accountant and Change Management Expert with more than 13 years of experience in finance, leadership, and fraud risk management. Pius started his career at Ernst & Young CPAs and his outstanding work has taken him to various companies in different sectors including agriculture, energy, manufacturing, and finance. Before joining Summit Consulting, he served as Chief…
Ideas to improve your board performance
How do you improve the performance of your board? If your board members are not empowered to contribute to the board discussion, chances they will start missing the board meetings when called are high. Board members mostly add value during board meetings. Below are three ideas to improve the performance of your board. Give board members specific projects An effective board starts the board chairman or chairperson. A good board chairman understands the company’s strategy, the bylaws, the competitive landscape the future of the industry. The board must identify strategic projects and initiatives that the board must deliver during the…
How to empower your board to add value
Leadership is most needed during times of crisis, ambiguity, and worries due to uncertainty about the future. It is the leader’s role to provide clarity of the direction, communicate a clear roadmap to manage any crisis and remove uncertainty and ambiguity so that the team is calm focused. Timely communication aids board effectiveness People always look up to the leader for guidance when things are not moving in the right direction. Imagine driving in a taxi, and after three kilometers into the journey, you experience a car breakdown. Depending on the extent of the problem, a good driver will stop…
Do shareholders play a role in the selection of board members?
Yes. The Board of directors must work in the interests of shareholders. For this to happen, shareholders have a final say in the board’s appointment. Board members provide oversight and strategic leadership to the business or entity on behalf of the owners. The issue is how are board members selected. Many boards have a nominations committee. Usually, this committee proposes candidates for board appointments which the shareholders elect from. For example, if one vacant board position is available, two or three names may be nominated for the shareholders to select from. The problem arises if any shareholder asks how the…
Insights for a new SME establishing a Board of Directors
Are you an SME considering good governance? The starting point is to set up a Board of Directors, regardless of your size. Research by top experts and thought leaders at Harvard and other leading universities say that companies that are well-governed consistently outperform those that are not. One of the qualities of effective governance is having in place a board of directors that provides the roles of oversight and going concerned over the business. As an SME intending to set up the board of directors for the first time, where and how do you start? Here are some questions to…
Is your board up to the task?
We live in coronavirus times. These times call for new and better ways to work. For long, boards were encouraged to conduct virtual meetings to improve collaboration and value addition. The main forum in which board members add value is during board meetings. Boards that achieve the most at the board meetings improve their organizations. But not all boards are the same. Your board must embrace technology and new ways of working. As the lockdown period continues to be extended, we must start getting used to the new world order. Remote working. #covid19 is inviting the world to fast track…
