Good Corporate Governance Practices in Companies

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What is it: Corporate Governance is a set of good practices that can be incorporated by companies that aims to ensure a high level of transparency and control of business management in the long term.

In practice, this means introducing rules, usually formalized by statutes and contracts, to define the reach and power of the entire board, chairmen, and board of a business.

How to: In large companies, it is virtually mandatory to adhere to many good corporate governance practices. In particular, listed companies are evaluated accordingly. However, these practices are rarely used in small or medium-sized enterprises.

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It is precisely at that moment that a small, usually family-owned business begins to become medium or large that the first concerns with governance begin and it is these types of businesses that can best benefit from good practices.

Because it is a set of general governance principles and ideas, there is little or no really detailed guidance on how to implement and what exactly these practices are. Therefore, we decided to make a collection of the most important points for managers to pay attention to and create the corporate governance diagnostic worksheet.

With it, you'll be able to quickly assess which practices you already follow and which ones you still need to adhere to to make your management stronger and safer over time. Below, I'll demonstrate how the worksheet works and can help you with your business.

1) Diagnosis of Corporate Governance

The heart of the spreadsheet is already the analysis of the situation of your business, through a diagnosis divided into 4 parts with approximately 10 questions each. You will answer about:

a) Family: how is the family organization in the business

b) Corporate: how responsibilities, planning and remuneration are separated

c) Corporate: what is the membership structure and participation

d) Risks and Compliance: how the company structures its risk management

Good Corporate Governance Practices in 1 Companies

2) Plan of Action

For each deficit point, you can create a plan of action to implement it or correct it with responsible, area and term.

Good Corporate Governance Practices in 2 Companies

3) Reports and Dashboard

Finally, the spreadsheet will automatically create a progress report for your action plan as well as a dashboard pointing out the maturity level of your corporate governance and your strongest and weakest areas!

Good Corporate Governance Practices in 3 Companies

If you liked this worksheet, see the complete product and download its demo version by clicking aquil.

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