Course Info
Code MG2-180
Duration 5 Days
Format Classroom
Course Summary
The role of a director and board members in a company is pivotal in shaping the organisation's strategic direction, overseeing its operations, and ensuring its long-term success.
Directors, often appointed or elected by shareholders, play a key leadership role by making crucial decisions that impact the company's trajectory. They are responsible for setting the company's vision, mission, and goals, and must actively engage in strategic planning to achieve these objectives.
Board members, on the other hand, contribute their expertise and diverse perspectives to discussions, providing valuable insights and oversight. Together, the director and board members serve as stewards of the company's interests, safeguarding the interests of shareholders and stakeholders alike. Their fiduciary duty includes risk management, financial oversight, and ensuring compliance with legal and ethical standards.
Effective communication, collaboration, and a commitment to the company's well-being are essential attributes for individuals serving in these roles, fostering a governance structure that promotes transparency, accountability, and sustainable business practices.
During this course, you’ll learn:
- To gain a comprehensive knowledge of the responsibilities, functions, and legal mandates associated with the Director and Board roles.
- To become familiar with the Company Act and its implications for businesses, as well as a nuanced understanding of the legal and regulatory landscape within which businesses must operate.
- To be proficient in corporate governance and its impact on the Board's duties, accountabilities, and operations.
- To develop a keen awareness of the director's conduct both within and outside the boardroom, coupled with strategies to enhance personal effectiveness in the boardroom.
- To have the capability to discern and comprehend the vital distinctions between direction, management, and ownership,
- Expertise in recognising effective governance, and the ability to interpret, evaluate, and manage corporate risks.
- To formulate strategies and approaches for the adept management of stakeholders at the Board level.
- To acknowledge the paramount significance and influence of corporate values in fostering a successful, responsible, and ethical business.
- To enhance your confidence to question and shape decisions at the Board level and guide the overall direction of the company.
This course is designed for anyone responsible for the future success of a company. It would be most beneficial for:
- Business owners
- Directors
- Board Managers
- Aspiring Directors
- Financial Advisors
- Auditors
- Accountants
- PR Professionals
- HR Business Partners
This course uses a variety of adult learning styles to aid full understanding and comprehension. Participants will review various real-world case studies regarding business decisions for large scale companies. They will also work together in group discussions to uncover the main pain points of their businesses and put in potential action plans to overcome the issues, considering budgeting and risk factors.
Course Content & Outline
Section 1 : The Importance of Corporate Governance
- Overview of the Company Act and legal implications for businesses.
- Key aspects of corporate governance.
- Effective director conduct and boardroom presence.
- Understanding distinctions: direction, management, and ownership.
- Identifying and managing corporate risks.
- Stakeholder management at the board level.
- Corporate values in business success.
- Influencing board-level decisions and direction.
Section 2: Your Responsibilities as a Member of the Board
- Member duties and responsibilities on the board.
- Legal framework: Navigating corporate responsibilities.
- Practical insights into effective board membership.
- Director conduct and professionalism.
- Navigating boardroom dynamics.
- Accountability and decision-making on the board.
- Strategic contribution and direction.
- Ethical considerations in board membership.
- Board-level communication and collaboration.
Section 3: Liabilities & Statutory Responsibilities
- Director liabilities and statutory responsibilities.
- Legal framework for corporate liabilities.
- Understanding fiduciary duties in a board role.
- Compliance with statutory requirements.
- Financial accountability and reporting obligations.
- Mitigating risks: Legal protections and liabilities.
- Impact of statutory changes on corporate responsibilities.
- Case studies: Lessons from legal liabilities.
- Ensuring ethical practices in statutory compliance.
Section 4: Understanding your Financial Situation
- Financial literacy for board members.
- Interpreting financial statements and reports.
- Budgetary planning and oversight.
- Key financial ratios and performance metrics.
- Evaluating cash flow and liquidity.
- Financial risk management strategies.
- Impact of economic factors on finances.
- Financial decision-making for board members.
Section 5: Corporate Stakeholder Management
- Building effective stakeholder relationships.
- Communication strategies for stakeholder engagement.
- Balancing stakeholder interests with corporate objectives.
- Ethical considerations in stakeholder management.
- Stakeholder influence on decision-making.
- Crisis communication and stakeholder relations.
- Stakeholder reporting and transparency.
Section 6: Corporate Risk Management
- Identifying and assessing business risks.
- Risk mitigation strategies and controls.
- Role of the board in risk oversight.
- Financial risk management and analysis.
- Legal and regulatory compliance in risk management.
- Crisis management and business continuity planning.
- Integrating risk management into strategic planning.
- Monitoring and reporting on corporate risks.
Embark on the journey of forming a Company Limited by Guarantee (CLG). This guide unveils the intricacies, benefits, and management strategies, offering a roadmap for mission-driven success. From legal requirements to stakeholder engagement, discover the keys to fostering lasting positive impact.
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