A great achievement of today's business world is that companies are increasingly becoming agents of change from the point of view of progress, growth and development of society itself, replacing the old view that the role of companies was only to generate profits for their partners.
There is no other entity in the market, besides companies, capable of generating wealth, promoting professional education, the economic development of the community and the country, creating partnerships with science to launch new products, that is, influencing the direction of society towards a better quality of life for the population.
See the three good Corporate Governance practices that are taiwan whatsapp data essential for your company
1 – Long-term planning
This is a basic task of the Board of Directors, whose main function is to define the general direction of the business and the company's values. Therefore, it is important that it approves the planning , ensuring that it includes a long-term vision and takes into account the interests of all stakeholders .
2 – Careful execution
By completing the above step, directors receive a long-term plan from the Board of Directors that must be applied to activities that lead to achieving the established goals. It is for this reason that directors are called “executives”.
3 – Strict monitoring
Defining the internal control structure is essential to monitor the progress of the activities proposed to comply with the planning, avoiding delays, deviations or even fraud.
These are the three relevant practices of a company to achieve the best benefits with corporate governance. But we also have three other important practices that should be considered in the micro field, that is, more focused on the day-to-day business and corporate culture. See:
1 – Professional independence of the largest possible number of board members : it is not proposed that the Board be formed entirely by independent board members, except in the case of state-owned or mixed-economy companies, but that a good percentage of the group (between 20% and 30%) be composed of members who did not come from the company itself and who have a vision and market experience from other sectors of activity that could be useful to the company.
2- Creation of a code of conduct: this code should be the bridge between the company and ethics, allowing the development of an ethical culture based on trust, respect and solidarity within the company. It is recommended to follow the guidelines of the Code of Best Corporate Governance Practices, from the IBGC (Brazilian Institute of Corporate Governance). The existence of an “ethical culture” implies a better work environment, better performance, better image and reputation and a decisive reduction in the amount of fraud and embezzlement.
3 – Inclusion of women on the Board of Directors : the number of women on the Board of Directors is still low (something like 7% in Brazil, while it reaches 40% in more developed countries). Companies should consider including female professionals on the Board, who can contribute greatly with their vision and sensitivity to improving business and the organizational climate itself.