Within the context of BS13500 principles are defined as: fundamentals, truths, propositions, and assumptions that serve as foundation blocks as sets of values and or behaviours.
In creating an effective governance model, the organisation should capture the principles identified above and translate into meaningful narrative that can be communicated within the organisation.
Accountability should be transparent and define how and to whom staff report to. This might be a board and shareholders, or indeed stakeholders.
The organisation’s long-term purpose should be defined and reviewed. Many organisations alter their objectives and purpose at a whim without careful consideration.
Commitments sought from stakeholders should be determined and fully understood. This might require thorough inductions for new board members and senior staff joining the entity.
A culture of responsible treatment of the organisation’s affairs should be defined and encapsulated within the values sought within the enterprise.
The broad long-term issues arising from external and internal contextual issues is needed to ensure that the senior management team fully appreciate the business climate and the needs of competing interested parties.
The organisation’s purpose and direction should be clear and unambiguous and be communicated to all staff and stakeholders alike.
The culture of the business should be appreciated and if needed altered to underpin and support the direction sought.
For further information and to book your BS 13500 – Corporate Governance survey please contact: Marcus J Allen at Thamer James Ltd. Email: firstname.lastname@example.org
Marcus has twenty years’ experience in delivering Governance, Risk and Compliance solutions to over two hundred organisations within the UK. Marcus holds the respected Diploma in Governance, Risk and Compliance from the International Compliance Association and holds a master’s degree in Management Learning & Change from the University of Bristol. Marcus is a Fellow of the Institute of Consultants and Fellow of the Chartered Management Institute.