In the next series of articles, we will discuss the ‘hot’ topics on what keeps business owners awake at night.
This month, its Corporate Governance. There are nine positive impacts of corporate governance in small to medium sized companies. Any one of these may keep you awake at night.
Your Corporate Governance is tailored specifically to your company and is designed to support your company’s growth.
Looking at examples of good corporate governance ensure you remain on the right side of the law.
9 Positive Impacts of Corporate Governance:
Across all industries, corporate governance best practice requires you to document policies, procedures and processes. This sets expectations, establishes roles and responsibilities and communicates commitments to all those involved.
An example of incomplete documents and corporate governance: a successful franchise owner with 13 locations and 300 employees. There was no Organizational Chart, HR Policies nor Targets & Deliverables.
The result of having these documents in place was good communication between all departments: the owner, managers and staff. Efficiency improved by 20%.
What does good corporate governance look like? Here are eight results:
Does Corporate Governance keep you awake at night? Give us a call at 1-800-720-5166 or email admin@IWGservices.ca.
IWG Corporate Services is a Virtual Office Assistant dedicated to helping businesses reach their potential. Our team of professionals offer knowledge, skill and expertise to build your strategy for success.