Why not learn more about Experts?

The Definition of a Good Chairman

The role of a chairperson has become well recognized, and the expectations are consistently growing. Stakeholders expect to have an engaged, energetic Chairman who does more than managing corporate governance. The relationship between the Chairman and the chief executive officer should be good to ensure the success of both of them. The two should be practice candor and transparency for them to be able to rely on each other. They both need to recognize that they have different duties for them to work harmoniously.

For a chairman to be effective, he should have good knowledge about the business he is in. A good chairman should provoke positive challenges to the directors to improve various areas of the company. Additionally, he should know how and when to ask the right questions whenever there is a problem or he needs information. A good chairperson is always aware of the long-term vision of the company. He should be able to offer guidance to the organization while still helping to secure external resources outside the organization. It would be very disappointing if the chairman does not realize that it is not his job to run the business but to ensure that it is running well. His main role is to reinforce the directors and other senior officials.

A chair is required to just put in a few hours if his time to carry out his duties. This is because he does not have too many roles within the organization. From time to time, he can walk around the organization and see how the employees are progressing and enquire about any challenges they may be facing. A chairman is able to figure out what problems the company could be facing at all times. A great chairman is defined by the ability to unite the directors and shareholders of that particular organization.

If the company runs in a crisis, the chair is supposed to intervene quickly and offer necessary guidance on how to deal with the menace. He should be able to think about the long-term goal of the organization while bearing in mind the mission of the organization. To solve any problems within the organization, he should be willing to give in a lot of his time until everything is aligned for example Mr. Hussain al Nowais.

A good chairperson knows when and how to step down from an organization. He does not step down abruptly without any previous warning. He is careful enough to hand in his resignation letter and inform the management team at least six months earlier. This will allow the company to have enough time to look for a successor. The outgoing chair should take a few days to introduce his successor to the senior member of the company and pass on any relevant information.