3 Keys to Developing Good Corporate Governance
How your organization is perceived by the public and key stakeholders is dependent to a great extent on the culture and practices that are implemented within. As experts in corporate management and planning, Advanced Recovery Consultants looks to ensure that your organization is not only in full compliance with laws and formal regulations, but that its reputation is enhanced in the eyesof potential investors.
By helping to implement strong internal procedures and through an emphasis on transparent business activity within your corporation, we can help to increase your business’s value and ensure sustainable growth.
Good corporate governance is a key objective of any successful modern organization and we can help you work towards the following principles to ensure you achieve that objective.
Building a Strong Infrastructure
The importance of a company’s board cannot be stressed enough; all actions and decisions flow from this central body down through the management of the organization. A strong set of policies need to be put in place setting out the management and administration structure, these need to be kept up to date in line with current regulations.
Policies will dictate the internal procedures and processes your company will follow, if these aren’t well thought out, issues such as miscommunication, low morale and poor decision making will occur. Advanced Recovery Consultants is committed to helping your company develop a strong board structure with a clear agenda and detailed processes to help your business function as efficiently as possible.
A Strong Ethical Base
Building the ethical backbone of your business is essential to securing the engagement of your stakeholders and increasing your credibility throughout the industry. Advanced Recovery Consultants can help your organization focus on key aspects such as transparency, accountability and fairness to promote this foundation.
Accountability shows your business takes responsibility for the success of its strategy in achieving corporate objectives. By clearly communicating your company’s risk profile as well as the rewards expected. The corporate culture and risk profile will be clearly communicated from upper management down to employees.
Fairness is an essential doctrine for ensuring good communication between your board and all stakeholders in your business. By providing a forum for the discussion of issues affecting all parties we can take any action necessary to avoid future crises.
Transparency of course shows that your business is open to public scrutiny and will comply with any questions or efforts at verifying the details of transactions your company has been involved with. This greatly enhances credibility and reputation.
Monitoring Organizational Performance This is perhaps one of the most difficult functions of a company’s board. Paying close attention to whether the actions of the firm are legally compliant, and whether the decisions being made at every level are consistent with the strategies developed to fulfill shareholder requirements.
Advanced Recovery Consultants can help your firm to identify the key contributors to good performance, using these to measure the success of decision making throughout. We can also consult with management at different levels of the organization to provide reporting regarding the effects and key details of decisions taken.
Good corporate governance strategies will help any organization whether big or small. Shareholders will always want to confirm that the directors they’ve appointed are held accountable for their decisions, and that the roles and responsibilities are clearly defined and evaluated. Advanced Recovery consultants can help balance these requirements of modern business while still allowing your organization to grow in line with corporate objectives.