Question

Suggest any four methods to establish good governance? With explanation

Answer 1

Answer:

• Roles & Responsibilities - There should be clarity regarding individual responsibilities, organizational expectations of executives and the role of executive and steering
• committeeStructure & Composition – An executive committee needs to have the right group of people, having particular regard to each individual’s background, skills and experience, and how the addition of an individual builds the collective capability and effective functioning of the committee
• Purpose & Strategy – The executive committee plays an important role in setting the vision, purpose and strategies of the organization, helping the organization understand these and adapting the plans to implement themRisk Management - By putting in place an appropriate system of risk oversight and internal controls, executive committees can help increase the likelihood that their organizations will deliver on their purpose
• Organizational Performance - The executive committee determines and assesses appropriate performance categories and indicators for the organization
• Organizational Performance - The executive committee determines and assesses appropriate performance categories and indicators for the organizationCommittee Effectiveness – An executive committees effectiveness may be greatly enhanced through: careful forward planning of board-related activities; committee meetings being run in an efficient manner; regular assessments of organizational performance; having an executive succession plan; and the effective use of sub-committees, where appropriate
• Organizational Performance - The executive committee determines and assesses appropriate performance categories and indicators for the organizationCommittee Effectiveness – An executive committees effectiveness may be greatly enhanced through: careful forward planning of board-related activities; committee meetings being run in an efficient manner; regular assessments of organizational performance; having an executive succession plan; and the effective use of sub-committees, where appropriateAccountability - It is important that the executive committee ensures there is a flow of information to the board that aids decision-making; there is
• transparency and accountability to external stakeholders and to employees throughout the enterprise; and the integrity of financial statements and other key information is safeguarded
• transparency and accountability to external stakeholders and to employees throughout the enterprise; and the integrity of financial statements and other key information is safeguardedOrganizational Maturity - The executive committee has a role to play in enhancing the capacity and capabilities of the organization they serve
• transparency and accountability to external stakeholders and to employees throughout the enterprise; and the integrity of financial statements and other key information is safeguardedOrganizational Maturity - The executive committee has a role to play in enhancing the capacity and capabilities of the organization they serveCulture & Ethics - The executive committee sets the tone for ethical and responsible decision-making throughout the organization
• transparency and accountability to external stakeholders and to employees throughout the enterprise; and the integrity of financial statements and other key information is safeguardedOrganizational Maturity - The executive committee has a role to play in enhancing the capacity and capabilities of the organization they serveCulture & Ethics - The executive committee sets the tone for ethical and responsible decision-making throughout the organizationEngagement - The executive committee helps an organization to engage effectively with stakeholders and employees