Being a businessman or CEO of a “company” is, without a doubt, one of the great privileges of human beings.
Generate satisfactory for society, innovate products for clients, give direct and indirect employment to citizens, develop the productive chain of suppliers, contribute to the development of society through the payment of taxes (infrastructure, schools, hospitals, roads communication, public services, etc.) and many other benefits, are the way in which entrepreneurs, their companies and their organizations contribute to the growth and economic development of the country.
- Running a “company” is, without a doubt, a challenge for all entrepreneurs, investors and managers. To achieve the objective that the “company” has a healthy growth and development, it is necessary to make use of all the resources at its disposal: Knowledge, academic knowledge, experience, work experience, qualities, attributes, financial resources, friendships, books , business exhibitions, collaborators, partners, investors, opportunities, etc.
Many times, the entrepreneur with good Business Consulting acumen, with a good product, a good sales team, a good team of managers, a good team of collaborators, a good work system and good clients, has everything they need so that the “company”, over the years, has a good financial, organizational and labor performance. However, there are times in the life of any “company” when you need to do business work in a more formal way and that is when you invariably need the advice of people to help you steer your ship through better seas.
What is required for an entrepreneur or CEO to make the most of the advice of their Board of Directors?
- Be a physically and mentally mature person
- Be a committed and results-oriented person
- Be a proactive person who thinks, speaks and acts in a consistent manner
- Be a person who motivates your team to follow you and be passionate about your work
- Be a humble person who accepts the suggestions and advice of third parties
- Be a person who has a holistic view of situations
- Being a person who appreciates the diversity of knowledge and has the ability to integrate it into a common goal
- Be a flexible person, with a broad culture
- Being a person who extracts the maximum talent from people and
- Be a person who recognizes the need to work as a team with people of other ages, experience and maturity.
Obviously, creating, having or maintaining a good Board of Directors with independent directors has a cost. Each month that the board meets, it must be remunerated in accordance with the “Operating Rules” approved by the Shareholders’ Meeting and the Board of Directors. Of course, there are also some directors who, altruistically, are willing to form part of the Board of Directors without expecting any remuneration. But, in all cases, having a Board of Directors has some cost.
For public companies that are listed on the stock market, they are governed by the Securities Market Law (LMV) in an obligation:
- Formalize the Shareholders’ Meeting (that they meet at least once a year, preferably at the end of the first quarter of each year to review the performance of their investment and all matters of interest to them),
- Formalize the Board of Directors (made up of patrimonial directors (shareholders, shareholders’ representatives, or employees of the “company”) and independent directors (totally unrelated to the company, that is, they are neither clients nor suppliers and they have no conflict of interest to express their opinion and vote when required),
- Have an audit committee,
- Have a corporate practices committee, and
- Periodically publish the information and results of your company MT65 SOLUTIONS LTD.
GENERAL METHODOLOGY FOR FORMING BOARD OF DIRECTORS (MODEL COUNCIL®)
Having a team of successful directors, with high moral values and committed to the business growth and development of the “company”.
- Have a consultant project leader for at least one year and act as an independent director of the “company” to be in charge of ensuring that the Board of Directors functions perfectly. At the end of that year, the project leader could continue as an independent director based on the operating rules of the “company Business Consulting”.
- The consulting project leader will train, provide feedback, and coach both the counselors and the CEO
- It will be sought that there are some independent directors on the Board of Directors.
- Design the type of Board of Directors required by the “company”
- Hire independent directors
- Train the directors (patrimonial and independent), the secretary and the general director
- Implement the Assembly of Shareholders and the meetings of the Board of Directors
- Provide feedback to the directors and the corresponding committees (audit, corporate practices, technology, etc.)
BENEFITS OF FORMING A BOARD OF DIRECTORS
For the General Director of the “company”:
- Have a governing body responsible for the growth and development of the company
- Enrich your views and perspectives
- Draw on years of knowledge and experience from other directors and entrepreneurs
- Generate more improvement options
- Report the results achieved to its Board of Directors
- Agree on the making of strategic and important decisions
- Keep up-to-date with information and trends in the external environment
- Know the operation and success Business Consulting Consulting of other organizations
- Sleep more peacefully.
- Accelerate results
For the company”:
- Reinforce the culture of working for objectives
- Improve and innovate the way of managing and operating the “company”
- Be more institutional
- Relying on work systems more than people at work
- Work with greater order, discipline and administrative and operational control
- Have a multidisciplinary management team
- Keep growing economically
- Continue to develop organizationally.
So, starting today you can say: “I am no longer alone, now I have my own Board of Directors.” Starting today, as an entrepreneur or CEO, you will not be directing the destiny of your “company” alone with Business Consulting.