The Practice of Corporate Governance
- Length: 96 pages
- Edition: 1
- Language: English
- Publisher: CRC Press
- Publication Date: 2022-10-25
- ISBN-10: 1032342404
- ISBN-13: 9781032342405
- Sales Rank: #0 (See Top 100 Books)
All corporate entities, from the largest multinational conglomerate to the smallest tennis club, need effective governance. Some features of corporate governance are basic, common to all corporate entities: every governing body needs to think strategically and set policies to supervise ongoing management activities to ensure the entity is financially viable and is achieving its objectives.
Every corporate entity has a governing body, whether it is called a board of directors, a committee, a council, or anything else. Many people, when appointed to the governing body of an organisation, have little idea of what to expect and what is expected of them. Even those with board-level experience find that the culture and leadership style of other governing bodies differ. The aim of this book is to help them understand and improve their contribution to the organisation and governing body they serve. The book is a simple guide to the work of every board member.
Each chapter concludes with a worksheet, which enables readers to apply the ideas in that chapter to their own organisation. On completing the book, readers will have a detailed analysis of the governance of their own organisation.
Effective governance improves performance and ensures long-term success. This book offers a straightforward guide to the fundamental work of governing bodies and the people who serve on them.
Cover Half Title Title Page Copyright Page Dedication Table of Contents Acknowledgements Prologue How to Benefit from This Book The Background to This Book Notes Chapter 1: All Corporate Entities Need Corporate Governance The Constitution The Legal Context Defining Corporate Governance The Members The Governing Body Governance and Management Executive and Non-Executive Directors The Workbook Corporate Governance Workbook Worksheet Chapter 2: Board Structure and Board Members Directors: Executive and Non-Executive Executive Directors Independent Non-Executive, Outside Directors Connected Non-Executive, Outside Directors Five Alternative Board Structures The All-Executive Board The Majority Executive Board The Minority Non-Executive Board The All-Non-Executive Board The Two-Tier Board Board Size Director Qualities and Characteristics The Balanced Board Corporate Governance Workbook Worksheet Chapter 3: The Role of the Board What Do Boards Do? Strategy Formulation Policy-Making Executive Supervision Accountability Performance and Conformance Roles Allocating the Board’s Time Board and Management Relations Corporate Governance Workbook Worksheet Chapter 4: The Corporate Entity and Society The Scope of Corporate Governance Contractual Stakeholders Employees Suppliers of Goods and Services Firms in the Supply Chain Firms in the Delivery Chain Customers and Consumers Financial Stakeholders Lenders and Other Sources of Non-Equity Funds Stock Markets and Financial Institutions Creditors Non-Contractual Stakeholders Competitors Local Communities National and International Communities Where the Entity Operates The Environment, Carbon Emissions, and Sustainability Auditors and Corporate Regulators Independent Outside Auditors Corporate Regulators Corporate Governance Workbook Worksheet Chapter 5: Board Culture and the Challenge of the Chair On Board Culture Characteristics of Board Culture Board Leadership Board Size Board Structure Board Members – Personal Characteristics Board Adaptability Board Collaboration Board Conflict Board Relationships Board Tradition Commitment Communication Conformity Corporate Accountability Corporate Policy-Making Corporate Supervision Corporate Vision Decision-Taking Innovation Status Trust Identifying Board Behaviour The Role of the Chair Leadership of the Board Strategic Leadership Arbitration among Board Members Linking the Board with Management Being the Public Face of the Enterprise The Management of Meetings Board Politics Corporate Ethics Begin with the Board Corporate Governance Workbook Worksheet Note Chapter 6: The Effective Board The Makings of an Effective Board Board Information Reports and Presentations Online Presentation of Board Reports Accessing Information during Meetings Security of Board Information Managing Meetings, Agenda, and Minutes Managing Virtual Meetings Committees of the Board The Audit Committee The Remuneration Committee The Nomination Committee Other Board Committees Board Committee Activities Assessing the Performance of Boards and Board Committees What a Board Review Covers How a Board Review Is Initiated and Run The Outcome of a Board Review Corporate Governance Workbook Worksheet Note Chapter 7: The Effective Director Understand the Corporate Entity Contribute Experience, Knowledge, and Other Skills The Interpersonally Skilful Director On Joining the Board Director Development, Training, and Updating Director Information Directors’ Liabilities and Indemnity Assessing Directors’ Performance Who Undertakes the Assessment? What Criteria Are Used for the Assessment? How Is the Director Assessment Used? Corporate Governance Workbook Worksheet Chapter 8: Governance Issues in Different Types of Corporate Entities Incorporation by Charter Incorporation under Sector Legislation Trusts Partnerships Limited Liability Companies Public Companies Private Companies Family Companies Start-Up Companies Companies in Corporate Groups Companies Owned by Employees State-Owned Companies Companies Limited by Guarantee Moving On Corporate Governance Workbook Worksheet Epilogue: What This Book Has Been About The Ground We Covered Crucial Messages in the Book The Frontiers of Corporate Governance A Final Word Index
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