Directors - A Positive Culture Is Vital!
If you want your company/organisation to be successful, directors/committee members have to embrace the development of a “positive culture”.
In this article we have summarised comments made by Andrew Geddes, the recently retired Chairman of Greencross Limited, whilst commenting on Greencross’ journey from a small company (founded by Dr Glen Richards) to an “ASX Top 200 Company” where directors and senior managers committed to the creation of a “positive culture” which Andrew Geddes says was vital for the success of Greencross Limited.
After the appointment of the Chief Executive Officer the most vital task to be championed by the Board of Directors in a company or the committee of an organisation, is to ensure that a “positive culture” has been created within the company or organisation.
Andrew Geddes is one of the keynote speakers in the Corporate Governance Network webinar/workshops being presented by ESS Small Business.
Many of Andrew’s observations apply to all types of companies - large and small and to all types of not-for-profit, charities, sporting and social organisations.
Directors of companies and committee members of organisations need to monitor the implementation of a “positive culture” within the company/organisation.
Companies and organisations need to appoint a CEO who will then appoint a strong management team.
Directors need to ensure that appropriate systems have been implemented so that management will be receiving information that they can use to manage the business and directors will be able to review the systems to ensure that everything is functioning satisfactorily in the company.
The systems the company/organisation should be implementing include:
If the company wants to raise capital there is usually some additional work that has to be undertaken which should contribute to the culture within the organisation.
Directors need to monitor the performance of the Chief Executive Officer and the senior management team to ensure that:
Andrew Geddes highlights the desirability of directors ensuring that management has prepared a “Core Value Statement” and that it is being implemented.
Key components of a “Core Value Statement” include:
Andrew indicated that it is vital that the management team develop a “story” around each of these “core value items” and these “core values” are communicated to all team members and are openly discussed in team interviews, induction of new team members, performance appraisals.
Andrew indicated that this was the journey that Greencross Limited had implemented to guide the company on its transition from a small company based in Townsville to an “ASX Top 200 Company” – these processes all contributed to the creation of a “positive culture” within the company.
Andrew Geddes is presenting three presentations in the webinar/workshops as part of the Corporate Governance Network.
Subscriptions for the full program of nine webinar/workshops in 2018/2019 is $499 including GST or you can subscribe for individual webinar recordings for $78 including GST per webinar recording.
If you have any questions on any aspect of the Corporate Governance Network or services provided by ESS Small Business, please send me an email firstname.lastname@example.org or telephone me on 1800 232 088.
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Episode 019 - Directors - A Positive Culture Is Vital!
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