As adequately underscored in my book, How to Get on The Board and Be a Fantastic Director, a good board chairperson sets the tone for the conduct of the board business by addressing two issues: (i) boardroom practices and conduct, (ii) boardroom tools and templates. (i) Boardroom practices and conduct of members There is no boardroom which is perfect. But some boards take the inefficiency to another level: suddenly an email pops up from the CEO announcing the upcoming meeting within two days. You find the agenda and board papers neatly stacked on the table as you take your sit.…
What are the special attributes of a good board member?
To assess one’s financial discipline, the central bank, requires anyone nominated on the board of a financial institution, to among others, submit their personal statement of financial position or a personal balance sheet in old speak. The fact is a person who is financially secure is more likely to add value to the organization than one who is not. Imagine a board member who is motivated to attend board meetings because of the allowance paid for attendance? Some profit-making organizations have clear board selection criteria and board member remuneration communicated. Board members on not-for-profits organizations, on the other hand, are…
Assess corporate governance maturity
The difference between an average medical doctor and an excellent one is the quality of diagnosis. Imagine feeling a persistent headache with breathing difficulties and deciding to go and see a doctor for proper treatment. You arrive at the hospital reception and immediately get ushered to meet the ‘specialist’ doctor. After exchanging pleasantries and explaining that you are suffering from breathing difficulties characterized by persistent headache, the doctors look at you directly and says “you are suffering from headache with breathing difficulties. Go and take say Headaches tablets for ten days.” You would become alarmed. Wouldn’t you? A real specialist…
How to lead a meeting successfully
You have been called for a meeting. And as you take your seat, members nominate you as the Chair for the day. Where do you start and how do you start This is exactly what happened to me sometimes 15 years ago. I was invited at short notice, to attend a client meeting to commence a due diligence assignment to inform the decision to invest in the company. Twenty minutes later, the substantive chairman has not yet arrived. That is when members agreed that we start and nominated me as Chair. Where do you start? I grabbed the opportunity. By…
Hit the iron while it is still hot
It is not easy to hit an iron after it has cooled down. This common knowledge is critical when it comes to marketing and sales. Any sale is a result of hard work. It starts with building relationships through the first point of contact either at a conference or cold visitation to a prospect. It is easier to close a sale with someone you know face to face than one you have never seen especially when it comes to professional services. It is a business of trust. You need a consultant who is knowledgeable and competent. When it comes to…
Feedback advantage: Allow frontline staff to inform policies
Whoever denies feedback to the executive committee (EXCO) or CEO is an enemy to the business success. There must be swift information flow across the organization. Staff at the frontlines of the business are the number one champions of change. They interact with customers directly and know their pains, frustrations, and service offering that bring smiles to their faces. They receive instant feedback on a daily basis. While at a Bank on 25th September 2019, I tried unsuccessfully to find a parking slot so that I could park and proceed to transact in the banking hall. All the free parking…
