Blog -World Class Leadership

What is Governance - For Private and Family Owned Businesses

 

I often get asked these questions. What is Governance? How can I apply sound governance practices in my company.

First and foremost, Governance is not about slowing down processes or 'Red Tape' (which many private and family owned business owners think).  Governance starts from within. I prefer the definition that Governance is translating the wishes and desires of owners into results (Dr. John Carver). It is extremely important to understand that the following points are fully grasped and understood.

Owners Expectation: Having complete clarity in what owner's expect is the first and foremost. I have noticed companies going straight into strategy without taking time to truly understand owner's expectations. In some cases, owners themselves are engrossed, working fully on strategy and operations of their company, without fully connecting to what they really want. All decisions must be clearly linked to the owner's expectations. The starting point for Governance is to fully grasp...

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