Strengthening Governance and Management

The importance of regular strengthening or up-skilling both in governance and management is an integral part of running a successful business.

A business which is well governed and well managed improves its chances of success and dramatically reduces the chances of failure.  Such businesses enhance the prospect of a subsequent sale and appear more attractive to potential investors or joint venture partners.

Whilst there are a multitude of governance and management “gurus” offering their wares, the key is to first identify the areas requiring strengthening, and then target the appropriate expertise to those areas.  This is where self-evaluation can be of assistance, particularly for those who are candid in acknowledging areas that are potential weaknesses and require “beefing up”.

It is also worthwhile, before engaging assistance in this area, to check the track records of those providing the services.  This includes speaking with those who have used their services before to verify the value or perceived value that the client received from the expert services.

External help does come at a cost, but a properly targeted investment is well worth it, particularly in terms of added value, good processes, clear leadership, strategy and appropriate policies and procedures.