{"id":38983,"date":"2023-11-17T17:56:53","date_gmt":"2023-11-17T13:56:53","guid":{"rendered":"http:\/\/www.mauritiustimes.com\/mt\/?p=38983"},"modified":"2023-11-17T17:56:53","modified_gmt":"2023-11-17T13:56:53","slug":"corporate-governance-the-unfinished-revolution","status":"publish","type":"post","link":"https:\/\/www.mauritiustimes.com\/mt\/corporate-governance-the-unfinished-revolution\/","title":{"rendered":"‘Corporate Governance \u2013 The Unfinished Revolution’"},"content":{"rendered":"

Books<\/u><\/span><\/h4>\n

By Geeanduth Gopee<\/strong><\/span><\/p>\n

‘Corporate Governance \u2013 The Unfinished Revolution’ by Geeanduth Gopee, recently launched at the CLBS Business School in the presence of Jean-Claude de l\u2019Estrac as Chief Guest, and with Dan Maraye, Eric Ng and Suraj Ray in attendance, raises five questions, each of crucial importance for corporate leaders, business, executives, and board directors, university students and enthusiasts of corporate governance.<\/span><\/p>\n

In his Preface, Geeanduth Gopee states that \u201cunfortunately, economic and financial crises, the reprehensible conduct of several directors, corporate scandals, business failures and confused expectations by numerous stakeholders, all converge to undermine the evolution of corporate governance to greater heights\u201d.<\/span><\/p>\n

Corporate governance, he adds, remains an enigma for many people, who whether as laymen or experts have divergent views on this complex subject.<\/span><\/p>\n

Very early, the author differentiates between corporate governance<\/em> and good governance. <\/em>Each question is treated in a separate chapter.<\/span><\/p>\n

\"\"<\/span><\/p>\n

What is Managing, Leading and Governing?<\/strong><\/span><\/p>\n

The author warns managers, executives, and directors to the dangers of corporate myopia and to have an open mind and a wide outlook on the practices of management, leadership, and governance.<\/span><\/p>\n

At the outset a distinction is made between Management<\/em> and Governance<\/em>.<\/span><\/p>\n

The book then goes on to elaborate on the various risks in relation to cyber security, fraud and singularity and unilateralism.<\/span><\/p>\n

The book recalls that corporate governance is expected to deliver on certain promises.<\/span><\/p>\n

Corporate governance is after all about leadership. But one must see whether corporate executives and board directors are good leaders?<\/span><\/p>\n

Finally, the author introduces the mechanics of the SOH-Quadrant, a framework that situates and assesses the valued leadership<\/em> potential of leaders and directors, first between two lateral polarities of Weakness and Power and secondly between two horizontal polarities of Self-interest and Love. This is necessary as board directors must have the right profile, competency, and skills to exercise their role and function in this volatile, uncertain, complex, and ambiguous world.<\/span><\/p>\n

The chapter is concluded by urging board directors and top executives to exercise valued leadership<\/em>, thereby doing justice to their own role and to that of their organisation.<\/span><\/p>\n

Who owns companies? Who controls companies? <\/strong><\/span><\/p>\n

Ownership and control should not be in the same hands. This is in line with the system of checks and balances. The mechanism for ownership and control is different in the public sector organisations and in the private sector companies.<\/span><\/p>\n

The author emphasises the key role of the Company Secretary, the conscience of the Board, in helping the board of directors achieve its function and outcomes.<\/span><\/p>\n

Three key stakeholders have traditionally battled for power and control: shareholders, directors, and executives. Add to this to their need to comply to a regime of regulations or be subject the vagaries of the market, and you will imagine the turbulences inside and outside the boardrooms.<\/span><\/p>\n

What is the role of a Board of Directors?<\/strong><\/span><\/p>\n

The Code of Corporate Governance of Mauritius outlines eight principles:<\/span><\/p>\n