Thoughtpost programs are designed to assist the Board realise the full potential of the organisation.
How We Help
We help the Board identify and create opportunity in three critical areas.
History demonstrates that purpose-led organisations out-perform in the long run, are trusted and have a social license to operate.
Purpose, why an organisation exists, and the rules of engagement – Mission, Vision and Values- are defined and monitored by the Board. These fundamentals drive Strategy.
It is the responsibility of the Board to monitor progress against Strategy and make changes as required.
It is the role of management to provide the board with information to set objectives and develop strategies to ensure that they are met.
“Corporate Governance is a key driver of the performance of the Company”. – ASIC
Risk management is a set of processes through which the Board and management identify, analyse and appropriately respond to factors that might adversely impact the organisation’s business objectives.
Organisations routinely manage a wide range of risks such as technology failure, commercial and financial exposure, and information security. However, external legal and regulatory compliance risks are arguably the key issues for the Board.
These challenges are best met by ensuring that effective risk governance frameworks and practices are embedded in the organisation and applied day by day.
Bad corporate governance can cast doubt on a company’s reliability, integrity or obligations to stake holders, including customers.
Tolerance or support of illegal behaviour can significantly impact the value of the organisation.
This has implications for the organisation’s financial health, and ultimately its value.
Culture is best described as “what people do when no one is watching.”
Organisational culture is a key component in delivering the strategy.
Culture can be used to drive performance or provide an early warning of system failure.
Increasingly regulators are finding that Risk Assessment needs to be more broadly focussed to include financial and non-financial risk factors.
The Banking Royal Commissioner, Kenneth Hayne warned that :
“the assessment process must not be an exercise in box-ticking, but one that demands intellectual drive, honesty, rigour, thought, work and action”
“Culture can drive or discourage misconduct.”
This is consistent with public statements made by ASIC and APRA.
Key lessons for the Board coming out of various regulatory enquiries are:
- The Board and senior management must accept primary responsibility for culture.
- Culture, governance and remuneration are closely related.
- While culture cannot be explicitly measured, the outcomes that culture drives can and should be to allow for pro-active correction.
- Assessment and review of culture is an ongoing process, rather than a one-off or ad hoc activity.
As a matter of best practice, all organisations should, and financial services institutions must, put in place a clear framework for continuous assessment of culture and governance This enables the Board to identify areas for improvement.
Thoughtpost programs are structured to enable the Board to continually strive for Governance to Excellence
Programs customised to your needs
Thoughtpost Programs are focussed on assisting the Board realise the full potential of the organisation.
High performance organisations are founded on good corporate governance.
Our programs help you excel in corporate governance by facilitating effective, entrepreneurial and prudent strategies and behaviours to deliver long term success for your organisation.
Understand how the Board is performing today.
A quantitative diagnostic survey and qualitative analysis provides an essential health check of the functions and behaviours of the Board. The diagnostic explores stakeholder views on organisational purpose, board performance, team-work, alignment and balance.
This report is the essential starting point to identify emerging trends and understanding how effectively the Board is performing.
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Interrogate performance and develop a plan for the Board to realise the full potential of the organisation.
This process includes a comprehensive review of strategy, risk management and culture. It includes face to face stakeholder interviews, a workshop and expert analysis.
It may also include a review of individual directors to ensure the skills and balance of the board are fit for purpose in the current circumstances.
It aims to identify areas of weakness, collectively develop strategies to overcome them and set benchmarks for performance evaluation over time.
Understand what contribution key stakeholders are making in all circumstances.
This is a deep analysis to assess the Board’s role in setting, shaping and monitoring the culture of the organisation. Culture can be a key driver of performance, or an early warning of potential system failure.
The Board Culture Review includes a survey of Board role, behaviour and activity in all circumstances and one on one interviews with key stakeholders.
The output is a comprehensive report of issues facing the board and the implications that flow from that.
ensuring the governance architecture is fit for purpose in the current circumstances.
In a changing and challenging environment the governance architecture often requires modernisation or optimisation to ensure that the processes are appropriate.
A process review engages key stakeholders to understand current-state and likely future state requirements.
We then assist in developing principles and a range of options drawing from broad experience of governance models across many sectors.
assisting the Board to refresh or re-invent strategy to more effectively deliver the Purpose of the Organisation.
As circumstances change, some organisations require help in refreshing their defined strategy. Others are unclear about their Purpose and have an ill-defined strategy to deliver. Thoughtpost partners work with the Board to sharpen the focus on the purpose and engage stakeholders in delivery.
face to face coaching to meet agreed benchmarks.
Thoughtpost face-to-face mentoring programs utilise an on-line assessment tool to measure performance against plan.
Together the quantitative diagnostic survey and qualitative analysis provide an essential understanding of the functions and behaviours of the Board. The diagnostic explores stakeholder views on organisational purpose, board performance, team-work, alignment and balance.
The purpose of this evaluation is to assist the Chair and the Board to identify and track impacts and deliver a high-performance program for the organisation.
A senior Thoughtpost partner works collaboratively with the Chair and the Board over an extended period to deliver the plan and enhance capability.
Thoughtpost Training Programs provide targeted, highly interactive and practical training to the board and executive. The on-line Board Foundations course is available through our partner Global Governance Initiative. Customised training is developed using “live” material drawn from your organisation’s current circumstances while referencing leading and innovative practice world wide.