Corporate Governance

Briantony offers consultancy and training in good corporate governance whose main purpose is to facilitate effective, entrepreneurial and prudent management that can deliver the long-term success of the company. It is an important prerequisite for attracting the patient capital needed for sustained long-term economic growth

Corporate governance refers to the structures and processes for the direction and control of companies. It concerns the relationships among the management, Board of Directors, controlling shareholders, minority shareholders and other stakeholders. Therefore it is about what the board of a company does and how it sets the values of the company, and it is to be distinguished from the day to day operational management of the company by full-time executives.

Companies that engage in corporate governance align the long-term goals of shareholders, management and employees, which includes recognizing a civic duty to benefit the locales in which the companies operate.

Challenges of Corporate Governance in Kenya

Challenges in corporate governance and business ethics may indicate that business after all is not making profit. Proper management and customer care are to be taken into account if corporate bodies are to achieve their end goal of profit making

Good corporate governance helps companies operate more efficiently, improve access to capital, mitigate risk and safeguard against mismanagement. It makes companies more accountable and transparent to investors and gives them the tools to respond to legitimate stakeholder concerns such as sustainable environmental and social development. Corporate governance also contributes to development. Increased access to capital encourages new investments, boosts economic growth, and provides employment opportunities.

Importance of Corporate Governance in Kenya

Once we understand what drives your business formalities, corporate governance can be a useful tool for companies of any size from SMEs to large companies, in responding to challenges of a rapidly changing business world while maintaining stakeholder confidence.

Briantony consultants ensures that your company uses their resources more efficiently, protects minority shareholders, leads to better decision making, and improves relations with workers, creditors, and other stakeholders. As an incentive, the board and management are allied to pursue objectives that are in the interests of the company and its shareholders which eases effective monitoring.

We train you on key elements of corporate governance including;

Direction

To provide overall direction for the business, its leaders and employees while making strategic decisions and discussing current and future concerns of the company in relevance to mission and their vision.

Oversight

This ensures there is no leadership oversight. Leaders are monitored to make decision acts in the best interest of shareholders and other stakeholders.

Stakeholder Relations

This is to encompass a business’s accountability to each of its stakeholder groups. More so to emphasize on balancing investor interests with concern for other stakeholders, such as customers, employees and business partners.

Corporate Citizenship

Such statements communicate the business’s intent to act with social and environmental responsibility. In general, governance includes awareness that companies should balance profit-generating activities with responsible policies and practices.

Corporate Governance Best Practices

• Coherent business direction

To provide a booming leadership structure, boards and company management need to set clear, common goals and move in the same direction. Corporate governance best practices formally establish goals, ensure support by top levels of management and board, and clearly communicate to stakeholders. Corporate governance best practices designed to ensure coherent business direction will eliminate inefficiencies and ensure the confidence of stakeholders including shareholders, employees and customers.

2. Strategy
   Coherent goals are useless if no thought is put into getting there. The board can help a company reach its goals by ensuring effective strategy through corporate governance best practices.

Corporate best practices should be implemented through formal processes and then continually evaluated against prearranged indicators.

3. Corporate responsibility
   Governments, NGOs and other non-business players affect business operations too. Responsible business – growing your business while accounting for environmental, political and social impact – is good business. Corporate governance best practices that address corporate responsibility and sustainable business development will help secure your business’s long-term future – and make your company a part of solutions to pressing human challenges.
4. Accountability
   The board is critical to ensuring the accountability of a business. Corporate governance best practices can help boards develop and ensure transparent coverage procedures. This includes:

• Use of performance metrics
• Clear communication to stakeholders
• Conflict mitigation strategies
• Ensuring fulfillment of regulatory, compliance and disclosure requirements

Naturally, your liability and rigid background will vary according to your business’s field of activity, but you can ensure your accountability and transparency measures are impeccable by adhering to corporate governance best practices.