If a Board’s role is to govern and set the strategy for success, agreeing what success looks like must therefore be the first step.
Building a business that is resilient is more important now than it has ever been. There are complex operating environments that rely on constantly evolving technologies, global market places with different pressures and risks, as well as increasing workforce challenges. If a business has not considered what could go wrong – how can they possibly deal with it if it does?
Foreseeing and predicting change and shocks in the market is difficult and sometimes impossible, but a workforce is on the front line so ignoring their concerns or not giving them the mechanism for escalating their concerns is a cavalier and (arguably) dangerous attitude that can seriously impact an organisation’s ability to be resilient.
Operational and governance transparency also need to be applied to an organisation’s entire network. Governing an entity without considering its supply chain and third-party relationships is poor practice.
Download our guide to learn the key considerations in improving transparency and explore how effective corporate governance should be shaping your business.