A Quick Overlook of Businesses – Your Cheatsheet

The Definition of a Good Chairman

The duties of a chairman have increased in the recent times as well as the expectations. Stakeholders expect to have an engaged, energetic Chairman who does more than managing corporate governance. For a chairman to be effective in his duties, he should have a good relationship with all the directors. These two offices should be able to have confidence in each other through means such as open conversations. For the two parties to work in unison, they need to perceive that they hold contrasting positions in the company.

A chairman like Mr. Hussain al Nowais is effective in what he does since he fully understands what his job entails. Constructive criticism should be offered by Chairman to the shareholders and stakeholders. Additionally, he should know how and when to ask the right questions whenever there is a problem or he needs information. For a good chair to know the progress of the company, he should be accustomed to the mission and goals of the company. He should be able to offer guidance to the organization while still helping to secure external resources outside the organization. The chairman, however, need to realize that he does not run the organization. His main role is to reinforce the directors and other senior officials.

A chairman, however, should make sure that he devotes just the right amount of time to the roles he is supposed to take care of. This is because he does not have too many roles within the organization. From time to time, he can walk around the organization and see how the employees are progressing and enquire about any challenges they may be facing. Like Mr. Hussain al Nowais, an excellent chairman can develop empathy with the business and engage with the people and any ongoing issues. A great chairman is defined by the ability to unite the directors and shareholders of that particular organization.

In case of a crisis in the organization, a good chairman is able to put the interests of the company first. The mission of the company is the most important detail; hence the chair cannot afford to forget it. 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 does not step down abruptly without any previous warning. He is careful enough to hand in his resignation letter and inform the management team at least six months earlier. This gives the organization to start looking for a replacement. Also, the resigning chairperson gets to meet the new chairman like Hussain al Nowais and gets to introduce him to major team players within the organization.