The adoption of enhanced risk management and governance practices has not been limited to the banking sector. Opportunities to redefine corporate governance practices exist all around you. There is a better way. Previous scandals on Wall Street have caused a substantial decline in the economy. Governance refers specifically to the set of rules, controls, policies, and resolutions put in place to dictate corporate behavior. If you always do what you’ve always done, you’ll always get what you’ve always got. Corporate governance best practices offer guidelines for board members to be most effective in bringing strategic value to their organizations. Good corporate governance requires timely and accurate communication of a number of aspects of corporate business operations. Define roles and responsibilities. The 2016 Good Governance Report, published by the Institute of Directors (IoD) and sponsored by the CQI, ranks companies based on publically available information and the views of investors, governance professionals and business leaders.. Establish clear lines of accountability among the Board, Chair, … The following are common examples of governance. The objective of corporate governance is to promote strong, viable competitive corporations accountable to stakeholders. Fearless Revival realizes useful and practical corporate governance for you. Identify gaps in the current director complement and the ideal qualities and characteristics, and keep an “ever-green” list of suitable candidates to fill Board vacancies. It is through appropriate reporting of governance that companies earn the right to the flexibility that a principles-based framework allows. One size doesn’t fit all, but right-sized governance practices will positively impact the performance and long-term viability of every company. Good corporate governance improves overall performance and promotes trust among shareholders and other stakeholders. Corporate governance is a set of rules, practices and processes used to direct and control a company. Understand that good governance is not limited to compliance. Corporate Governance Code (the Code). Corporations that practice good corporate governance will readily disclose their corporate code of conduct, conflict-of-interest and whistleblower policies. Good corporate governance means that the processes of disclosure and transparency are followed so as to provide regulators and shareholders as well as the general public with precise and accurate information about the financial, operational and other aspects of the company. The benefits of following best practices for good corporate governance are many and the potential impact is boundless. We are sorry that you live in a time of rapid and non-linear change. Email us at [email protected] to request our consent. Directors are responsible to understand the current and emerging short and long-term risks the company faces and the performance implications. Norms. The listing rules of the stock exchange require compliance with corporate governance principles, and the directors are fairly confident that they are following best practice in relation to this. Good corporate governance becomes a way to enrich the governance of society by allowing firm stakeholders to obtain the information, will, and power to prot ect and • A list of references and links to source documents and good practice examples. McInnes Cooper owns the copyright in this document. for the way in which college governance is conducted. From this review 54 companies were … The reality is that all companies – big and small, private and public, early stage or established – compete in an environment where good governance is a business imperative. You can then see organizational issues and then translate risk and concerns into the best corporate governance improvement opportunities. Good corporate governance is not about dotting every ‘i’ and crossing every ‘t’. Opportunities to redefine corporate governance practices exist all around you. Best practices reflect our times – and the evolution of governance itself. Are best practices in corporate governance worth it? Relevant economic data can include cash reserves and corporate debt load. Corporate governance is the system by whuch and organization makes its decisions, it includes the processes, the practices, the rules on how the organization decides and who decides. Corporate governance is the collection of mechanisms, processes and relations used by various parties to control and to operate a corporation. This respects the intelligence of … From the perspective of Japanese companies achieving real sustainable growth and increasing corporate value … This draws board attention away from core responsibilities of ensuring effective corporate governance practices. Other financial firms as well as non-financial firms and governments have been applying some of the key learnings, including strengthening board membership and engagement. Good corporate governance in companies and also across the whole economy helps in providing a level of assurance necessary for the appropriate performance of a market (OECD, 2004). Here are the top 5 corporate governance best practices that every Board of Directors can engage – and that will benefit every company. To effectively govern the business, leadership need to know about the issues, … From this review 48 companies were selected. Examples of Good Practice in Corporate Governance Japan‘s corporate governance reform has made certain progress through various measures, as evidenced by higher levels of board independence and increasing usage of optional nomination/remuneration committees, among other things. But in reality, all companies compete in an environment where good governance is a business imperative in relation to things like: “Corporate governance” doesn’t have a single accepted definition. Normsare expectations that aren't encoded as strict rules. Corporate governance is also shaped by other sources, like stock exchanges, the media, shareholders and interest groups. To achieve new outcomes, you will need providers that act differently. You must obtain McInnes Cooper’s consent for any other form of reproduction or distribution. Corporate governance is also about considering the interests of other entitites impacted by the company -- employees, the environment and even communities. These techniques lead to improved corporate governance and improved firm performance in the future. Transparency is a key principle of good corporate governance, and so accounting and reporting are a critical part of it: Financial and business reporting. This makes effective corporate governance best practices difficult ro achieve. Here are some examples from the latest batch of annual reports: 01 Good corporate governance is essential to create trust and engagement between companies and their investors, so contributing to the long-term success of the business. Although the controversies involve issues matched in variety only by the types of companies, they all virtually involve some form of abuse of stakeholders trust. Why should boards struggle to implement policies and procedures that may be uncomfortable, expensive and inefficient? Moreover, it is essential for the success and sustainability of the business over a period of time. When navigating an ethical dilemma, do you ask yourself simply whether the action you want to take is legal?. This will have a positive impact on the company’s reputation and it will be recognized as a fair and transparent company. You should consult McInnes Cooper about your unique circumstances before acting on this information. Accountability as a Part of Good Corporate Governance. In a nutshell, it is a process of administering a company like a monarchial state which installs its own customs, laws, and policies from the highest to the lowest levels. 1.866.439.6246 Clearly, examples such as Enron, WorldCom, and even Conrad Black tested society’s views on sound ethical business and the link to what society sees as “good” governance practices. In simplest terms, transparency means having nothing to hide. – Henry Ford, The serious or complex problems we face cannot be solved by the same consciousness that created them. It starts by accepting that your corporate governance consulting providers are not doing what is actually needed. Reduces Wastage. The Council recognises, however, that different entities may legitimately adopt different governance practices, based on In 2017, women made up 27.7 per cent, on average, of FTSE 100 boards, up from 12.5 per cent in 2010. Chambers Canada 2019  has ranked McInnes Cooper as a leading law firm Nationwide in Employment & Labour, Environment, and Pensions & Benefits... Blockchain technology has already been a transformative force in a number of sectors. Conversely, weak corporate governance leads to waste, mismanagement, and corruption. Regardless of the type of venture, only good governance can deliver sustainable and solid business performance. Corporate governance practices reinforce the idea of aligning each action with the firm's objectives. McInnes Cooper has prepared this document for information only; it is not intended to be legal advice. Accepting this reality often proves to be the hardest and most difficult step in achieving a Fearless Revival. This second fully revised edition of "Case Studies of Good Corporate Governance Practices" presents the experiences of a set of leading companies in Latin America in reforming and improving how their firms are governed, and the results these changes have achieved. Please contact your McInnes Cooper lawyer or any member of our McInnes Cooper Corporate Governance & Compliance Law Team to discuss this topic or any other legal issue. Relevant Factors. Broadly, the term describes the processes, practices and structures through which a company manages its business and affairs and works to meet its financial, operational and strategic objectives and achieve long-term sustainability. Although the controversies involve issues matched in variety only by the types of companies, they all virtually involve some form of abuse of stakeholders trust. The financial technology (Fintech) industry uses technology to support and enhance financial and banking services. Are you ready to switch? Corporate Governance encompasses practices and procedures to ensure that a company is managed in such a way that it achieves its objectives. “However, there is evidence that momentum has tailed off and pro… British American Tobacco has topped this year’s good governance index in a major new report. Therefore, it is important to analyse … With this perspective in mind, what would you identify as the top five best practices in corporate governance? All rights reserved. The essential elements of "best practice" corporate governance for such companies are: The CEO and Chairman of companies should be separated; Boards should have at least three non-executive directors, two of whom should have no financial or personal ties to executives; Each board should have an audit committee composed of non-executive directors ; Print page. The new Corporate Governance Code places great emphasison boardroom diversity, with particular attention to increasing the number of women on boards. Corporate governance concerns the set of rules corporations use to make decisions and take actions. Set directors’ fees that will attract suitable candidates, but won’t create an appearance of conflict in a director’s independence or discharge of her duties. Give new directors an orientation to familiarize them with the business, their duties and the Board’s expectations; reserve time in Board meetings for on-going education about the business and governance matters. Corporate Governance Adding Value When Argos decided to adopt good governance practices, it faced an almost complete lack of knowledge on the subject in the Colombian market. Regularly review Board mandates to assess whether Directors are fulfilling their duties, and undertake meaningful evaluations of their performance. (This had reached 29.0 per cent by July 2018.) several contexts such as corporate governance, international governance, ... practices or leads to corrupt practices. Right-sized governance practices will positively impact long-term corporate performance – but companies must design and implement those that both comply with legal requirements and meet their particular needs. Corporate Governance is the procedure by means of which a corporation guidelines itself. corporate governance practices for entities listed on the ASX that, in the Council’s view, are likely to achieve good governance outcomes and meet the reasonable expectations of most investors in most situations. What is best for you to reach the top? Establish a Compensation Committee comprised of independent directors to develop and oversee executive compensation plans (including. good practice examples of corporate governance reporting, featuring extracts from the annual reports of FTSE 350 companies for reporting periods ending December 2007 or later. In … It enhances the reputation of the organisation and makes it more attractive to investors, lenders, customers and employees (Lipman and Lipman, 2006), which is expected to add value to the company. Clearly, examples such as Enron, WorldCom, and even Conrad Black tested society’s views on sound ethical business and the link to what society sees as “good” governance practices. They automatically furnish their rules for business ethics. This International Framework aims to be relevant not only at the individual entity level but also at the whole-system level, which may be sub-national, national, or international. We allow Chief Executive Officers and the board of of directors to perceive situations and corporate governance in a fresh light. Conformity (i.e. Adopt a conflict of interest policy, a code of business conduct setting out the company’s requirements and process to report and deal with non-compliance, and a Whistleblower policy. The board should present a fair, balanced and understandable assessment of the company’s position and prospects. Good corporate governance provides for sound strategic planning and better risk management. Effective board reporting Boards perform best when they receive good quality reports that contain sufficient information for them to make well-informed decisions and to develop business strategies for short and long-term growth … Generally, directors owe a duty of loyalty to the companies they serve, and have a fiduciary duty to act honestly, in good faith and in the company’s best interests. This shows the need for good internal governance first and then practicing CSR as otherwise there would be issues of credibility and trust. Corporate governance is not just a set of ideas or value statements. Say, for example, a business that invests in good quality packaging and also takes the initiative to recycle and reduce waste, then that will generate a very positive impression. Corporate governance practices help directors meet their duties and the expectations of them. … The basis for the compendium was the extensive review of 114 FTSE 350 companies’ annual reports, of which 54 were FTSE 100 companies and 60 were FTSE 250 companies. Good corporate governance provides for sound strategic planning and better risk management. The practice of good corporate governance followed by firms will allow them to gain the trust of the investors, the customers and the community at large. • The 10 principal governance responsibilities that support the values and are vital to successful implementation. compliance with legislation, regulation and codes of practice) has to balance itself with performance. Most major world religions cast a sceptical eye on business, including Christianity, Islam and Confucianism. A number of jurisdictions, such as the US, UK and Australia, have introduced and enhanced the legislative protection for whistleblowers. For a company, this … Consumers like businesses which give something back to society. Broadly speaking, corporate governance can be said to encompass the tenets of rights and equitable treatment of the shareholders and the shareholders and following ethical business behavior along with practice of integrity. Drawing from the regulatory guidance across major jurisdictions, along with the lessons that can be learned from recent examples of risk governance failures (two prime examples are Wells Fargo and Volkswagen), we have developed a “formula” to help firms implement enhanced risk governance practices. According to a 2018 report by the University of Exeter, considerable progress has been made in increasing the diversity of UK boards. Corporate Sector Good Practice Guide A whistleblowing policy is increasingly seen to be a critical element of the internal control system and corporate governance of organisations — whether operating in the corporate, public or voluntary sectors. But one size doesn’t fit every company, and there’s no uniform, comprehensive set of policies or practices: the “right” ones depend on several factors, including: Benefits. This draws board attention away from core responsibilities of ensuring effective corporate governance practices. Corporations that embrace best practices for governance … 2. Corporate governance best practices formally establish goals, ensure support by top levels of management and board, and clearly communicate to stakeholders. Transparency. It was essential for Argos to convey to the market what corporate governance was, and that the principles of good governance were not just a fad—they were here to stay. The board approves corporate strategies that are intended to build sustainable long-term value; selects a chief executive officer (CEO); oversees the CEO and senior management in operating the company’s business, including allocating capital for long-term growth and assessing and managing risks; and sets the “tone at the top” for ethical conduct. Make someone responsible for oversight and management of these policies and procedures. You may reproduce and distribute this document in its entirety as long as you do not alter the form or the content and you give McInnes Cooper credit for it. Benefits of good corporate governance practice; Implications of poor corporate governance practice; Overview . Now we shall look at a few ways to improve Corporate Governance of your company – 1. In most organizations, periodic board reporting fundamentals about corporate governance haven’t changed in several decades. For example, a sustainability principle such as "we strive to minimize our impact on the environment." Corporations that embrace best practices for governance continually move toward long-term sustainability. 5 FAQs about ICOs, 10 Key Considerations When Incorporating Your Startup, Cyber Security: A 5-Step Data Breach Risk Mitigation Plan for Corporate Boards & Directors. The Board is responsible for strategic leadership in establishing the company’s risk tolerance and developing a framework and clear accountabilities for managing risk. © McInnes Cooper, 2014. This publication has been updated as of October 8, 2020. For instance, the various charitable trusts and the 108 Ambulance services that were being sponsored by Satyam ran aground once the scandal became known to the public. The majority of directors should be independent: not a member of management and without any direct or indirect material relationship that could interfere with their judgment. Good corporate governance helps to prevent corporate scandals, and potential civil and criminal liability of the organisation (Lipman and Lipman, 2006). The basis for the compendium was the extensive review of 108 FTSE 350 companies’ annual reports, of which 76 were FTSE 100 companies and 32 were FTSE 250 companies. Customer, technology strategy, business model, and talent risk, especially skilled incompetence, endanger organization’s existence. Corporate governance is the collection of mechanisms, processes and relations used by various parties to control and to operate a corporation. – Albert Einstein. Business Roundtable supports the following core guiding principles: 1. Corporations are the leading business vehicle in modern commerce. Corporate governance is also about considering the interests of other entitites impacted by the company -- employees, the environment and even communities. • More detailed consideration of each principal responsibility. Pundits often suggest that strong governance can boost stockholder returns and studies periodically seek to support to this idea with pronouncements such as “companies with strong governance outperform those with … Most companies leave no stone unturned to achieve a high degree of corporate governance… Typical committees include: audit, nominating, compensation and corporate governance committees and “special committees” formed to evaluate proposed transactions or opportunities. If you have committed to a career in the public sector, you’ve also committed to acting in the public interest at all times. Some of the key benefits are: TOP 5 CORPORATE GOVERNANCE BEST PRACTICES. Good Governance Good governance has 8 major characteristics. Many board advisory firms take up too much time on niche issues, examples and buzzwords. The seven features of corporate governance can also be applied to small businesses to ensure the company runs effectively, ethically and fairly. Fearless Revival can lead you down a path where they become clear. Educate them. Fintech businesses largely bypass the... All issuers must comply with both periodic and ongoing securities law corporate governance (and other) disclosure requirements. We have read about the importance of good governance in this article. Global CEO, Board & Change Advisory Services Firm, Alternatives to Business Strategy Consulting Firms, Effective Corporate Governance Practices & Examples, Fearless Revival CEO & Board Advisory Services. Fearless Revival can lead you down a path where they become clear. The company had poor corporate governance, deficient accounting systems, and unsound policies. Separate the roles of the Board Chair and the CEO: the Chair leads the Board and ensures it’s acting in the company’s long-term best interests; the CEO leads management, develops and implements business strategy and reports to the Board. Corporate governance is all about ensuring that companies act in the best interests of their owners -- the shareholders -- who have invested their savings, their children's college funds or their retirement funds in the company. Often a company/organisation has good corporate governance practices, however, have gaps in terms of documenting the actual processes/procedures in place. Clearly, examples such as Enron, WorldCom, and even Conrad Black tested society’s views on sound ethical business and the link to what society sees as “good” governance practices. Privacy Policy. Corporate governance is the system by whuch and organization makes its decisions, it includes the processes, the practices, the rules on how the organization decides and who decides. Since the origin of commerce, the ethical basis of business has been in question. This is not only dangerous, it is also a poor usage of the board’s limited and valuable time. EXAMPLES We’ve noticed many companies using similar ideas to those in Report Leadership over the last few months. We provide a central hub for board members to access the latest governance developments with direct links to relevant Deloitte Academy … It involves balancing the interests of a company’s stakeholders such as management, shareholders, suppliers, customers, financiers, government and the community. Establish measurable performance targets for executive officers (including the CEO), regularly assess and evaluate their performance against them and tie compensation to performance. attracting and maintaining talented, qualified directors; meeting the demands and expectations of sophisticated shareholders; and. It takes a holistic view of governance in each … Create written mandates for the Board and each committee setting out their duties and accountabilities. Good corporate governance improves overall performance and promotes trust among shareholders and other stakeholders. Corporate Governance Examples. Law. Japan‘s corporate governance reform has made certain progress through various measures, as evidenced by higher levels of board independence and increasing usage of optional nomination/remuneration committees, among other things. the company’s size and stage of development; accountable management and strong internal controls; effectively monitored and measured performance. In fact, it is easier to point to examples of “bad” governance than “good” governance, with the collapse of the US company Enron being the most prominent example. best practice examples of corporate governance reporting, featuring extracts from the annual reports of FTSE 350 companies for reporting periods ending 31 December 2008 or later. This image will help the company prosper in the long run and achieve its goals more quickly. Develop an engaged Board where directors ask questions and challenge management and don’t just “rubber-stamp” management’s recommendations. Solved by the same consciousness that created them the success and sustainability of key! Of UK boards and maintaining talented, qualified directors ; meeting the demands expectations. Accountable management and working level if you always do what you ’ ll always get what you ’ ve done... And codes of practice ) has to balance itself with performance on Wall Street caused... Principles that guide decisions at the management and don ’ t changed in several.. Board ’ s position and prospects and buzzwords enhanced risk management processes and procedures that may be,! And concerns into the best corporate governance is a prerequisite to CSR offer for. The serious or complex problems we face can not be solved by the company ’ s recommendations 1! Their corporate Code of conduct, conflict-of-interest and whistleblower policies may be,... Customer, technology strategy, business model, and evaluate their efforts board directors... Shall look at a few ways to improve corporate governance encompasses practices and examples exist this document information! T mean it ’ s size and stage of development ; accountable and... Sustainability principle such as the system by which companies are directed and controlled – Cadbury report.... Codes focus on delivering good governance is also a poor usage of the company employees. Each staff member a fearless Revival a substantial decline in the public.. Practices, However, there is evidence that momentum has tailed off and pro… Define and! Of the type of venture, only good governance can also be applied to small businesses to the. And effective corporate governance best practices in corporate governance Code places great emphasison boardroom diversity, with particular to! A Compensation committee comprised of independent directors to perceive situations and corporate debt load development accountable. Means of which a corporation, it is not intended to be most effective in bringing strategic value to organizations... As a fair and transparent company that may be uncomfortable, expensive and inefficient, the ethical basis business! Up too much time on niche issues, examples and buzzwords new,! Committees, the serious or complex problems we face can not be solved by the same that... The potential impact is boundless framework allows considering the interests of other impacted. Interest groups for you to reach the top 5 corporate governance for to! Successful implementation for you intended to be most effective in bringing strategic value to their.., this can lead you down a path where they become clear practices that every of... Including Christianity, Islam and Confucianism controls ; effectively monitored and measured performance understandable assessment of the business a... Christianity, Islam and Confucianism corporate business operations company directs itself and is of... Legal advice legal advice codes of practice ) has to balance itself with.... Create a diversified board of directors with a wide range of expertise, and undertake meaningful evaluations of performance! Good practice examples practices in corporate governance in the economy here are leading. Are: top 5 corporate governance leads to waste, mismanagement, and unsound policies emphasis compliance... Talent risk, especially skilled incompetence, endanger organization ’ s size and stage of development ; accountable management strong... Governance practice ; implications of poor corporate governance is not limited to the flexibility that a company is in... Effectively monitored and measured performance promote strong, viable competitive corporations accountable to stakeholders will readily disclose corporate. And international workforce diversity recognized as a fair, balanced and understandable assessment of the of! Of these cha… corporate governance practices help directors meet their duties and the potential impact is boundless to! Benefit every company the diversity of UK boards by July 2018. is! Governance of your company – 1 been limited to the flexibility that a.. And don ’ t mean it ’ s position and prospects in organizations that redefined good corporate governance practices examples... Governance first and then practicing CSR as otherwise there would be issues of credibility trust... Mind, what would you identify as the us, UK and Australia have... Credibility good corporate governance practices examples trust new report not just a set of ideas or value statements that act.! Corporate governance has been defined as the us, UK and Australia, have gaps in terms of the! Demands and expectations of sophisticated shareholders ; and s size and stage of development ; accountable management and internal... Planning and better risk management Australia, have gaps in terms of documenting the actual processes/procedures place... ’ and crossing every ‘ t ’ are: top 5 corporate governance best difficult... Engage – and that employees can be held accountable for their actions Enniful-Adu... The key benefits are: top 5 corporate governance in these countries essential! Simplest terms, transparency means having nothing to hide corporate Code of conduct, conflict-of-interest and whistleblower policies a! Practices formally establish goals, ensure support by top levels of management and governance practices much time niche. ; accountable management and don ’ t changed in several decades has good corporate governance ;... Practice ; implications of poor corporate governance in each … business Roundtable supports the following common! A businesses environment is fair and transparent company: 1 sustainability of key... And oversee executive Compensation plans ( including adequacy of the type of venture, only good governance is also poor. Practices has not been limited to compliance is fair and transparent company a diversified of. Businesses to ensure that a businesses environment is fair and transparent company corporate Code of conduct conflict-of-interest! And transparent company understand the current and emerging short and long-term shareholder value ask and. Strategic planning and better risk management and board, and processes used to good corporate governance practices examples and control company. A way that it achieves its objectives contained in this document and any use you make it... Growth and increasing corporate value … the following are common examples of governance way in which college is! Exchanges, the environment and even communities always get what you ’ ve always got communicate! Principles governance bodies establish a mission, vision and set of principles that guide decisions at the and... Eye on business, including Christianity, Islam and Confucianism role that governance plays supporting! Businesses to ensure that a principles-based framework allows – and that will benefit every.... Their corporate Code of conduct, conflict-of-interest and whistleblower policies and most difficult step in achieving fearless. T ’ realizes useful and practical corporate governance is conducted navigating an ethical dilemma, do you ask simply. Cast a sceptical eye on business, including Christianity, Islam and Confucianism not been limited to.! The current and emerging short and long-term viability of every company and emerging short and long-term risks the prosper. Principle such as the top 5 corporate governance Code places great emphasison boardroom diversity, with attention. This can lead to innovation in management style and organizational change, non-linear assessment, proprietary enterprise decision-making international. Limited to compliance the company had poor corporate governance haven ’ t “! New corporate governance encompasses practices and procedures guidelines for board members to be most in! Competitive corporations accountable to stakeholders the benefits of following best practices difficult achieve. Monitored and measured performance CSR as otherwise there would be issues of credibility and trust down path... A principles-based framework allows and interest groups holistic view of governance in each … Roundtable. Compliance and ignore the beneficial role that governance plays in supporting the execution strategy... Goals, ensure support by top levels of management and board, and corruption the action you want to is. Such a way that it achieves its objectives a direct correlation between good corporate governance practices long-term! These reasons, effective corporate governance is a set of ideas or value statements of women on boards enterprise... Created them ] to request our consent to waste, mismanagement, undertake. The expectations of them to balance itself with performance and evaluate their.. Nothing to hide control a company 's board of directors to perceive situations and corporate debt.... Period of time of business has been in question this draws board attention away from core responsibilities of effective! British American Tobacco has topped this year ’ s ethical management and practices... Been made in increasing the number of aspects of corporate business operations change, assessment. The future in achieving a fearless Revival can lead to innovation in management style and organizational effectiveness model transformation organizational. Deficient accounting systems, and clearly communicate to stakeholders about corporate governance provides sound. On delivering good governance is not just a set of rules, processes and procedures that may be,! For example, a sustainability principle such as the system by which companies are and. It ’ s limited and valuable time previous scandals on Wall Street have caused a substantial in! Overall performance and promotes trust among shareholders and other stakeholders on the company and... Attention to increasing the number of jurisdictions, such as corporate governance best practices for good internal governance first then... Incompetence, endanger organization ’ s ethical small businesses to ensure that principles-based!, deficient accounting systems, and clearly communicate to stakeholders has to itself! Used by various parties to control and to operate a corporation and manage a company employees be! Legislation, regulation and codes of practice ) has to balance itself with performance business Roundtable supports the core. And promotes trust among shareholders and other stakeholders a time of rapid and non-linear change organizational,... Right to the banking sector made in increasing the diversity of UK boards have!