Thoughtpost IS A SPECIALIST FIRM.
Corporate Governance is all we do.
Our subject matter specialist Partners address the broad question of governance from the perspectives of behaviour and culture, regulatory and legal, policy and process, strategy and finance.
THE FOUR FUNCTIONS OF DIRECTORS.
Thoughtpost-developed theory identifies Four Functions of Directors to provide a practical way to see and evaluate the performance of the Board.
Each of the Four Functions represents a different essence of Directorship.
While each is interdependent, they are decisively different.
Each requires a different mindset and behaviour.
Click on ONE OF THE FOUR SIDES to learn more
Resourcing to multiply performance
The Performance function is complimented by being collaborative and collegiate towards other directors as well as the CEO and senior managers.
Healthy behaviours include collective responsibility, consensus building, respect, compromise and judgement.
Transforming Possibility into Probability
The advisory role is performed by individual Directors or the Board acting as a group.
The CEO’s role is as a delegate and in that regard is entitled to take or leave advice without incrimination.
Healthy behaviours include a willingness to share, support and encourage.
Actively Seeking Outcomes
This function is to monitor progress, outcomes and material issues relating to tasks that have been delegated by the Board.
The CEO engages with the Board to provide and receive information and enable decision- making.
Healthy behaviours include curiosity, respect, engagement and support.
The Thoughtpost developed Four Functions of Directorship align with the APRA guidelines to assess board performance.
Through a combination of desk reviews, stakeholder surveys, interviews and workshops the review assesses:
- Decision making including the setting of purpose, strategy, risk frameworks and culture.
- Monitoring performance against strategy and operational and financial plans.
- Performance including board decision making processes.
- Advising the CEO and senior management team
Utilising the Four Functions of Directors, a Board can immediately consider:
- What is the right focus, taking into account the organisation’s history, life-cycle, size, market position and ownership?
- Does the time, effort and focus of the Board reflect the right balance across the Four Functions?
- What skills, knowledge and resources are required?
HOW WE GET IT DONE
How We Work
All of the recent investigations by regulators indicate the need for constant application of governance principals.
“It’s not a one-off process. There is a need to apply, reapply and keep reapplying measure to culture.”
Thoughtpost provides organisations with an on-line mechanism to track performance of all stakeholders across all functions over time. This can be utilised by Boards to regularly track improvement and ensure the Board is always operating within the regulatory guide-lines