3 Lessons Learned: Tips

The Definition of a Good Chairman

The role of the chairman has become high in profile and the expectations multiplied over time. Stakeholders expect to have an engaged, energetic Chairman who does more than managing corporate governance. For a chairman to be effective in his duties, he should have a good relationship with all the directors. These two offices should be able to have confidence in each other through means such as open conversations. The two parties have to understand that they have different roles for them to work together successfully.

A chairman like Mr. Hussain al Nowais is effective in what he does since he fully understands what his job entails. Constructive criticism should be offered by Chairman to the shareholders and stakeholders. Moreover, the chairman should always ask relevant questions regarding various issues in the company. A good chairperson is always aware of the long-term vision of the company. While still helping the organization by offering guidance, he should be able to acquire resources that would be of use within the organization. The chairman, however, need to realize that he does not run the organization. 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. He should not be involved in too much of the organization’s work either. However, he should interact with the staff, customers, and investors from time to time. A chairman is able to figure out what problems the company could be facing at all times. The ability to run an effective board and make sure there is a good relationship between the shareholders and stakeholders is what defines a good chairman.

In case there is a big issue in the company, the chair should be able to dedicate his time to trying to solve it. The mission of the company is the most important detail; hence the chair cannot afford to forget it. 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 great chairman should follow the right procedure when he is ready to resign from his duty. He does not wake up one morning and decide not to carry out his duties anymore. He is supposed to share his intention with the management team and directors about resigning from the company at least six to eighteen months before leaving. This gives the organization to start looking for a replacement. The outgoing chairperson gets an opportunity to hand over his roles to his successor.