The Mastering Advanced Governance booklet asserts that getting beyond basic governance is an essential requirement of all Directors. Especially important is learning how to lead from the Boardroom by developing a team of directors who can utilise each other’s talents and skills in the best interests of the company they serve. The best Boards also have a frame of mind at work in their deliberations which reflects a mature confident approach that inspires followership from management, which in turn lifts the performance of the company.
As Governance capacity advances there is often a shift in who the directors nominate from their ranks to be Chair (where the decision is made by the directors). Directors who are not highly opinionated and are committed to serving the company by getting the Board to work at its maximum capacity are greatly valued. The quieter but well-respected director often makes the best Chair because their need to be heard is less improvement than their desire to lead and support others.
Ultimately, the test of how advanced Board governance becomes is determined by the director’s ability to apply judgment in their decisions over time, with the hallmarks of success including responsible risk taking in variable conditions. With globalisation and the pace of technological advancement affecting virtually every company with disruptors now a frequent event, companies without advanced governance are at risk of failure. The Mastering Advanced Governance booklet maintains that the ultimate goal of governance should be to add value to the company in the best interests of those the company owes a duty.
John Mero has worked with over 800 Boards including ASX 200 publicly listed companies, private corporations not for profits ranging in size from billion dollar annual turnovers to micro remote community Boards. He draws on this unprecedented experience to present a booklet that highlights the critical aspects of advanced governance.