The Effective Governance bridge

The Effective Governance bridge

The Effective Governance bridge is designed for firms to help clients maximise shareholder value, achieve their strategic goals, and minimise risk through the development and implementation of a Governance Framework Plan. There are two service levels within the bridge: Governance Planning and Ongoing Governance Coaching.

Important info
Only take on Governance Coaching with clients you know and trust and whose risk profile is acceptable. Ensure you take appropriate steps to ensure you're not deemed to be directors in the clients' companies and that you have adequate professional indemnity insurance.

To access the Effective Governance bridge, go to Navigation panel > Bridges > Effective Governance bridge.

Understanding the Effective Governance process

Good governance exists to add value to a business, big or small. Any company that is serious about creating and developing an effective Board of Directors should have a Governance Plan.
  1. The Process Guide outlines best practice use of the content in the Business Planning bridge; click the Download Process Guide button in the top right-hand corner to view this guide

Note
Ensure you review the  Process Guide prior to using the content in the bridge.

Marketing the Effective Governance services

There are many ways to actively market the Effective Governance services, including:
  1. Discussing your Effective Governance service as part of a Complimentary Client Review, Proactive Accounting Meeting or Annual Accounts Review Meeting. 
  2. Discussing the benefits of developing a Governance Framework Plan and the value of Governance Coaching during a Business Planning, Organisational Review or coaching session.
  3. Sending out relevant educational marketing content to your database to subtly position the value of Effective Governance.
    1. Go to Navigation panel > Marketing > The Gap + BOMA  > The Gap + BOMA Library Catalogue to check out our educational marketing ready for you to send via BOMA
  4. Hosting our Governance in Action or Boards That Deliver Gap Webinars to generate interest in your Effective Governance service. Go to Navigation panel > Bridges > Gap Webinars and Seminars section to access these webinars.

The Effective Governance Proposals

There are three proposals in the Effective Governance bridge; one for the standalone Governance Planning service, one for Governance Planning combined with Governance Coaching, and one for the standalone Governance Coaching service.  Only send a proposal for services you have gained conceptual agreement for.
  1. Consider the client's unique situation and use the checkboxes to select the objectives, measures of success and value to the client; add bespoke objectives, measures of success and points of value to reflect the client's individual needs
  2. If your client does not accept within seven days, call them to follow up
For more information, see our  Using proposals article.

Tip
Carefully read through the objectives, measures of success and values to better understand the types of problems this service will help solve for your clients.

Delivering the Governance Planning service

Client outcomes

By attending a Governance Planning session, clients will:
  1. Develop a clearer company purpose
  2. Learn how to hold management to account in implementing the Strategic Plan and delivering results on budget
  3. Eliminate current 'laid back' business practices
  4. Execute known business opportunities well
  5. Reduce the stress associated with business growth
  6. Maximise shareholder value

Session duration

The length of the Governance Planning session will depend upon the size, complexity, and intentions of the business. For a smaller business with relatively modest growth aspirations, the session may take 3-4 hours. For a business with greater complexity, significant growth aspirations, or a higher risk profile, the session may take up to a day. In this case, it may be useful to deliver two half-day sessions.

The service

You will facilitate a structured Governance Planning session to document:
  1. A plan for separating the governance functions and responsibilities from that of operations
  2. An annual Governance Framework Plan
  3. Oportunities and risks to be managed
  4. An action plan to address critical issues
  5. The form and frequency of regular Board Meetings
Prior to the session, you will provide all attendees with pre-work to complete, ensuring that any issues that need to be discussed are identified and you can prepare accordingly.

Important info
We recommend enforcing a 'no pre-work, no meeting' policy. Politely discuss the benefit of pre-work and reschedule the meeting so it does not become one of discovery.

Click here for more information about common content found in the Gap bridges and how they relate to each step in the  Effective Governance process. See the  Effective Governance Process Guide for detailed information about the  Governance  Planning content.

Key content in the Delivery folder includes:
  1. Guide to Effective Governance: a guide to provide clients with more information about what good governance is and the role of a director which should be sent one week before sending the pre-work.
  2. Governance Framework Plan: to document how the Board will implement governance best practice; to be populated during the Governance Planning session.
  3. Annual Governance Work Schedule: a template to document completion dates for key projects throughout the year.
  4. Mindset Card - The 4 Pillars of Governance: an illustration of the Board's key responsibilities.
  5. Mindset Card - Governing vs Managing: an illustration defining the different roles of governance and management.
  6. Board Meeting Agenda - Complex Company: an agenda template for the Board Meeting of complex companies which may have a greater requirement for Board accountability.
  7. Board Meeting Agenda - Small Company: an agenda template for the Board Meeting of smaller, less complex companies.
  8. Governance Planning Director Job Description: a template to develop a clear Job Description for directors during the Governance Planning session.
  9. Risk Register Template: an Excel template to send to clients to identify and categorise risks in their business and identify mitigation strategies for each risk.
  10. Guide to Building Your Board Charter: a guide to send to more complex companies who require a Board Charter to clearly define roles, responsibilities and authorities of the Board of Directors, and of Management in setting the direction and managing the risks of the company.

Delivering the Governance Coaching service

Client outcomes

By undertaking Governance Coaching, clients will:
  1. Develop a structured process to ensure their Governance Framework Plan stays current and goals are achieved
  2. Create a rolling action plan to ensure key projects are implemented
  3. Have a forum for directors to discuss burning issues with a trusted third party
  4. Increase discipline and accountability through an independent coach
  5. Make better business decisions and achieve business best practice

Session duration

The length of each session will depend on the length of the client's Board Meeting. Governance Coaching is not a one size fits all service. Whilst it's appropriate for some companies to have a monthly Board Meeting rhythm, bi-monthly or quarterly will be sufficient for others.

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