Recently, a series of corporate events have challenged the reputations of boards and management at some of the largest companies. The Banking Royal Commission is in response to the perception of inappropriate behaviour. Society is demanding business leaders “do the right thing”. If corrupt or unethical conduct has occurred, it needs to be called out and transparently deal with.
The JNW delivery team have significant governance and board evaluation experience and a library of better governance intelligence. We are passionate about helping directors transparently meet their strategic and regulatory obligations, and assisting them establish strong practices to leverage their governance culture.
We have been working with organisations on ways they can protect their brands. Our eight dimensions of good governance model has been used to confirm directors are meeting their legal duties and obligations and helping organisations strengthen their culture, conduct, risk management, control frameworks and performance.
Along with strategic leadership, the greatest insights we have found are:
- Corporate reputation is becoming a top priority for directors. Its difficult to build but with social media, easy and quickly damaged
- The need for diversified skills around the board table is critical, especially with the surge in digital disruption and cyber crime
- A strong appreciation of the legislative environment is essential for directors, in order to minimise personal liabilities and to keep the confidence of industry regulators, and
- There is a need to focus on those strategic risks that could have a significant impact on the achievement of the strategic objectives. This requires having a strong risk management framework that is embedded organisationally wide.
As we know, Tone at the top drives the corporate culture. Good governance is good business. So lets all ask the hard questions and re-examine how we are ensuring our organisation is doing the right thing!
The following pages outlines how JNW can help you, your Board and it’s Committees.