Leadership and Structure

Governance

Owners who desire their business operation to grow, develop and improve can benefit from instituting oversight practices. By making itself accountable, the business is forced to examine and learn from the consequences of its decisions. The business, and its CEO and senior leadership, team has the opportunity to receive valuable insights from those chosen to serve in its governance. Attraction and retention of high-quality people as advisors is possible only if management listens to and carefully considers their advice. In privately or closely held organizations governance generally takes the form of an Advisory Board. Large publically-held firms generally are required to have formal Boards of Directors to steer operations. Such Directors have fiduciary responsibilities and can be held personally responsible for the consequences of certain decisions.