Every management committee/board should provide leadership to the organization by setting the strategic direction to guide and direct the activities of the organization.
The effective BoardManagement Portal of the Organization
In accordance with the best corporate governance practice, the main goal of assessing the effectiveness of each member of BoardManagement portal is to activate the work of the board and the personal participation of its members, increase the contribution of each member to ensuring the successful work of the company as a whole and the portal and identify areas in which their activities can be improved. This assessment helps to identify which Board members are underperforming and to find ways to increase their contribution to the development of the company or replace them.
It is believed that the individual assessment of the members of the BoardManagement portal is more complicated than the assessment of the board portal as a whole, and at the same time, a very delicate procedure, the careless implementation of which can lead to adverse consequences. Therefore, it is recommended to carefully prepare for an individual assessment by deeply working through all the stages of its implementation.
Since productive and purposeful labor has a social character, then any object of management in the form of a group of people, a collective that makes up the corresponding organization or their larger association is a socio-economic system. At the same time, the organization that manages the activities of the system, which is a part of it, is considered a subject of management.
Conditions for Sustainable Development of the Enterprise with Board Management Portal
To assess the level of sustainable development of an enterprise, the following groups of indicators are taken in accordance with their role in the BoardManagement portal: market, production, social, financial, and economic. The information base is the accounting statements of the organization, the forms of state statistical reporting, the data of enterprises that are not included in it. The process of creating an information and analytical base for analysis and construction of derived indicators for assessing the sustainable development of an enterprise is as follows:
- the input of initial information on the enterprise;
- calculation of financial and economic indicators characterizing the position of the enterprise;
- analytical comparison of indicators;
- construction of a weighted index of the integral assessment of the sustainable development of the enterprise.
In order to remain competitive in today’s market conditions – in any industry – BoardManagement must provide services at the highest level. Speed, quality, prioritization, discipline, and an individual approach are key parameters that motivate customers and other interested parties to use a product or service and contact the company again. Traditional project management methodologies, especially in today’s fast-paced digital world, no longer allow us to effectively respond to changing client needs. In order to be successful in an ever-changing demand, a business must be agile and agile.
In many cases, the BoardManagement portal initiates the process of developing a corporate governance code by selecting an organization or forming a working group to develop recommendations for improving corporate governance practices in the country. But only in a few cases has the government played a truly leading role in the development of corporate governance codes, while in most cases it has preferred to keep a modest position, leaving the initiative to the private sector. Regardless of its level of involvement, the government is often perceived as an important source of support.