A Simple Plan: Businesses

April 14, 2018

Miscellaneous

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The Definition of a Good Chairman

The role of a chairperson has become well recognized, and the expectations are consistently growing. Shareholders and directors require to have a chairman that is passionate about his job on governance of the company and also very active in his roles. The success of a Chairman like Hussain al Nowais depends on how good his relationship with the chief executive is. The two should be practice candor and transparency for them to be able to rely on each other. They both need to recognize that they have different duties for them to work harmoniously.

A chairman like Mr. Hussain al Nowais is effective in what he does since he fully understands what his job entails. He should be able to provide a constructive level of challenge to the senior management team. Whenever he needs information on particular issues, he should be able to ask the right questions. A good chairperson is always aware of the long-term vision of the company. Offering guidance is a major role of the chair and finding new ways to purchase important resources for the company. The position of the chairman does not allow him to run the company and he should be able to recognize that. He should mainly offer support to the management team.

A chairman does not have to spend all his time in the organization as his roles are not demanding. Since he does not run the company, he does not have much work. When the chairman is in the business premises, he can interact with the customers, investor or workers to see how business is running as Mr. Hussain al Nowais does. 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 of a crisis in the organization, a good chairman is able to put the interests of the company first. He should be able to think about the long-term goal of the organization while bearing in mind the mission of the organization. A good chair should always be selfless when problems arise until they are well resolved.

When a chair is ready to step down, he should always know how to do it and when. He suddenly does not step down from his position without any warning. 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. The company there is able to get adequate time to search for someone else to fill in that position. The outgoing chair should take a few days to introduce his successor to the senior member of the company and pass on any relevant information.