I have worked with so many board and committee Chairpersons over the years. Some are great, others are a disaster. Whereas a few are seasoned and highly experienced, many others just found themselves in the roles and lack the leadership skills needed to win. The good news is anyone can be a great chair if they learn three simple skills – patience, focus and step back. Whether you are a chair of a simple party meeting or a board, you must invest in self-education and, training to acquire the essential skills needed to win in the role. Good chairs are…
Seven tips for a new board member to win on any board
Whether you are a new or seasoned board member, the following seven tips will improve your effectiveness and value addition on the board. For more practical insights, buy the book, 7 tools of an effective board member. Know how your value addition will be evaluated Know the appointing authority. And clarity on how your value will be evaluated. Make sure this is well stated in your appointment letter. If you are a lawyer, for example, the value you bring on the table is your legal expertise. During your time on the board, it is expected the company shall avoid entering…
Leading for results at board levels
Want to make an impact on the boards you serve? Insist on quality board papers. Each board paper must cover the following sections at a minimum: What is the decision at hand? What are the present challenges that the board must meet to discuss and find solutions? Make such an issue top on the board’s agenda. The fewer the items on the agenda, the more effective the board meeting. What are the options do we have? Describe each option fully showing the advantages and disadvantages of each option. The board paper packs must focus on complete but succinct insights about…
What’s the difference between a board of directors and a statutory board?
In brief: The board of directors a team of people appointed to provide leadership of the company and is led by a Chairman. A statutory board is an entity formed by an act of parliament to provide a specific function. For example, the National Health Services of the United Kingdom could as well be referred to as a Statutory Board — for health services. In detail: As the name suggests, a statutory board is one that is formed by an act of Parliament of any given country with a clearly defined mandate or purpose, powers, rights, and obligations. Such boards…
The changing role of a Chief Finance Officer
If Legal is a key pillar of corporate governance in any institution, Finance is the Ring Beam that holds the entire structure together. Yet, many finance officers continue to occupy the seats at the edges of the high table, instead of centre stage. This has not only alienated the finance function as a support role, instead of a mission-critical one that is given all the resources -in terms of skills and tools – it requires to transform the business or enterprise. In this era of VUCAP – volatile, uncertain, complex, ambiguous, and pandemic, the role of the finance department under…
Here is how to transform your internal audit department
Are you adding value as an internal auditor or you are just ticking and bashing and getting lost in the paperwork? In these pandemic times, you must claim your place at the highest table of decision making by providing consulting and advisory insights that transform your audit clients. To read the complete presentation we made to the Government of Uganda Internal auditors, under the auspices of the Internal Auditor General, Internal auditors have a place at the highest level of decision making – the audit committee of the board as they report directly to the board (functionally – internal audit…
