Many boards use committees for a rage of purposes from functionary finance and remuneration committees to strategic-specific ones. Consula's consultants have wide-ranging experience across many types of committees in the commercial, not-for profit and Government sectors.
The role of an indepdnent committee member can be both good governance and provide a function as well as gaining a different prespective on issues from a truly independent voice. Keeping a management committee fresh, focused and effective has to involve regular renewal of its membership. This enables the committee to periodically review what skills or attributes the committee requires to meet the changing challenges and demands of the organisation. It can also help to strengthen the commitment and enthusiasm of individual committee members, by introducing mechanisms for limiting their term of office.
Many people will have heard of the term non-executive director (NED) but few fully understand what they are, much less what they can potentially do for a small or growing business. It's assumed by many small business owners that NEDs are the things of big businesses or major corporations, but recruiting the right NED can help a small business gain experience, knowledge, contacts and ideas as well as constructive criticism.
Many boards become the victims of bad habits; missed agenda items, conversations being side tracked, and opinions being discounted. The introduction of a NED will not only help to keep things on track but can help alleviate tensions and 'put out fires'. Time is important for small businesses and meetings need to be specific and to the point.
In fact NEDs can round off a board by not only providing experience and knowledge that other directors may not have, but by being able to take a more objective view of issues affecting the business and offering a wider sense of the possibilities for growth.
Strategic In-House Legal Director / Officer
Whether to hire an in-house lawyer can be an important milestone in the evolution of a company, but before a lawyer is actually on board it is often hard for directors to envisage how a lawyer will add value and/ or save costs to their business. More importantly. sometimes the needs that can arise don't warrant a full time position. One of the most obvious and immediate benefits of having an in-house lawyer is to manage the business’s current and future legal costs. An experienced in-house lawyer with knowledge of your sector will quickly be able to determine the most cost-effective external lawyers to use as well as ‘in-sourcing’ work which you may previously have had to instruct outside counsel on.
Additionally, an in-house lawyer can help you to deal with any current legal matters such as litigation, dispute resolution, shareholder/director disputes or strategic guidance on corporate structures. A commercially astute lawyer working closely with the business at the start of any initiative often results in a quicker and more cost-effective implementation of the business plan. In house lawyers have a better understanding of the business, its products and strategy than external counsel. They will also be able to be more flexible and quicker to respond to the needs of the business resulting in immediate, pragmatic business solutions.
Consula provides a range of corporate responsibility solutions
Consula has consultants with experience across a range of different industries as Non-Executive Directors. Capable of delivering an objective, functionary and good-governance focus at the board level, our Independent board or committee members also bring a range of skills and experience and fresh eyes.