Can’t quite get your exec team running as they should? Have a silo’ d approach happening in your business? Governance can make or break a business and it’s important to understand the difference between governance and management.
The governing body of an organisation, whether it’s the board, steering groups of executive management team often find it difficult to delineate their different responsibilities as managers and ‘governor’s’. This is an all too common scenario in NZ where many business are family owned or the owners have dual roles as owners and managers and often spend almost 100 percent of their time managing and very little time governing.
In a nutshell, "Governance" is the strategic task of setting the direction, goals, limitations and accountability frameworks for the business or organisation or perhaps even the project. The best way to think of this is the governing body determines the ‘what’. In context, this means what the organisation is going to do in the future or what it may even become. "Management" are the executers and they determine the ‘how’ in terms of carrying out how the organisation will reach the goals and direction set by the governing body. Management are responsible for overseeing the day to day operations and running of the organisation and allocating resources to make it happen.
So this is where Business Mechanix comes in….
Business Mechanix have consultants on board who are able to work with you to implement governance frameworks. This may be even re-arranging how you are working, could involve setting up a board, or even chairing meetings and creating governance templates such as meeting agendas and more. Business Mechanix has Institute of Directors trained consultants on board who have been through the Company Directors course and are trained in both Governance and Management and understand the difference. The Institute of Directors also recommend using external parties to help set your strategy and even governance frameworks to ensure you have an objective view on what you are doing.
We also challenge those of you who have Strategic Plans “our 5 key objectives for the next 5 years or similar”- do you even have matching operational plans to make sure you fulfil these goals? We can work with you on reporting frameworks, KPI creation and monitoring to ensure that your Strategic Objectives are not simply a glossy brochure you give your customers or put in your bottom draw. We can make you vision come to life by getting the Mechanix of your business really working!
We can help you for a day and just provide advice or work with you on implementing solid governance practice over months or longer.
Let us help you achieve your organisations aspirations and goals by getting Governance working well and your Management executing to your plan. We look forward to working with you in the near future.