Get any of these wrong and you will fail - You need all 12 pivot-pointsApr 14, 2023
When talking with the shareholders and directors of major corporations, it is increasingly common to hear them talk of the difficulty they experience in maintaining control over their corporations and, more importantly, ensuring that the corporation delivers that which is expected of it by its owners. The 1980s and the crash of 2000s commercial and economic debacle has certainly heightened this level of cynicism and scepticism throughout business circles and has reinforced the urgency that owners and investors have for establishing a more reliable mechanism for better assuring the wellbeing of their interests.
Throughout the 20th Century, business has experienced much change in the style, content and emphases of the day, most of which have professed to help business become more effective.
For a range of logical reasons, the focus over the years has been on management, in that it is management who have been perceived as the controllers of corporate destinies. When most business was small and operated with the daily involvement of its owners, this was both a relevant and reasonable perspective to adopt as the distinction between owners and managers was negligible.
However, as the face of industry and the corporate environment changed and matured and the average corporation grew and became more complex, the corporation has seen a significantly changed relationship between owner and manager. No longer are the owners of an organisation, particularly of the larger corporations, the same individuals who make the daily management decisions which impact on the performance and destiny of those corporations and its owners.
Equally as important, has been the emergence of the manager as leader and visionary of the corporation, when historically it was the owner of the organisation who filled this role.
Although this trend is somewhat inevitable with increased commercial sophistication, complexity and as the world economy emerges into its current globalised environment, the distinction in roles, expectations and responsibilities between owners and managers has blurred.
However, it is not uncommon for company directors of medium to large corporations to complain that management has "hijacked" the company into a direction that is not wholly agreed by the Board, even though the Board is seen as the final arbiter of corporate policy and direction. Often Boards of corporations, it is claimed, are seen only as "rubber stamps" to legitimise the corporate aspirations and commercial interpretations of management.
There are many reasons for this rift and perception. Management is becoming more skilled in what it does and is wholly committed in time and mind to the management of the corporation. Directors on the other hand, largely as representatives of the owners of the corporation are generally part-time, and do not have available to them the same depth of information available to management. Strictly speaking, the information is available to Directors through management, but is rarely easily accessible.
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