Board consulting focuses on strengthening the board by providing perspective and assessment of existing practices, identifying gaps, and recommending ways to achieve the desired alignment. The primary responsibility is to plan for organizational performance and long-term sustainability.
The board’s function has grown increasingly important in today’s business environment. They give the organization strategic direction, supervise risk management, and guarantee that the business complies with all relevant laws and regulations. In addition, they are in charge of ensuring that the business activities match its mission and values and that it fulfills the expectations of its stakeholders.
The success and viability of the organization over the long run depend on how well the board performs its tasks. The wisdom and experience of CEOs and MDs alone are insufficient; a role/industry expert is a guiding factor. Board and CEO advisors ensure companies adopt and adhere to best governance practices. These advisors assist companies in developing governance structures, assessing and mitigating risks, and enhancing transparency and accountability. An effective board can serve as a significant competitive advantage for an organization.
A TOP 10 Global Pharma business based in India has made some excellent decisions over the years, including going public and establishing a capable board. According to B N Singh, the former chairman of ALkem Labs, these activities have assisted the business in navigating through a number of challenging situations and helped the management create a code of conduct.
As the focus on corporate governance continues to grow, the demand for board and CEO advisory services that can guide this area continue to increase. As a board advisory firm, Cornerstone collaborates with the chairman, board members, and the organization’s top leadership to develop a shared vision and form a strategic alignment of members and the board.
If you are looking for board advisory services in India, our expertise and experience in corporate governance, risk management, and strategic planning. They can offer an objective perspective on the organization’s challenges and opportunities and guide best practices and industry trends.
Our approach is client specific, wherein the first steps are to evaluate the current board, where they are now, and where they need to be, along with suggestions and implementation support. These often include a variety of actions, including:
With this service, we aspire to help lift the performance and effectiveness of thousands of boards across the globe. We partner with Board Benchmarking, which Nicholas Barnett established in 2005 to help lift governance across the world by developing and providing world-class governance surveys to clients. We help organizations and directors with the board effectiveness survey, which was benchmarked following an independent validation process by Deakin University to establish psychometrically defensible dimensions of board functioning that can be used to evaluate board performance reliably. Discover more about our offerings by clicking here.
Every organization that wants a strong and effective board must prioritize the search for board directors. The search aims to identify individuals with the expertise, knowledge, and experience needed to effectively oversee and direct the organization. The hiring process frequently includes a thorough analysis of the company’s objectives and top priorities, in addition to taking into account the backgrounds, accomplishments, and track records of possible candidates.
It might also entail speaking with stakeholders and performing extensive due diligence to ensure that candidates are independent and honest. Effective board director search calls for careful planning, transparency, and a commitment to diversity, equity, and inclusion if the board serves all stakeholders’ interests.
Cornerstone also participates in succession planning, one of a board’s most important duties, to guarantee board performance. We collaborate with you to create a thorough plan that includes both an external shortlist of qualified candidates and internal succession planning. Our strategy ensures that your company will have the effective board it requires.
Our professionals consult with the board of directors, sharing their knowledge, skills, and expertise. This assists the board in carrying out their tasks effectively and resolving any issues that may arise. Such an arrangement makes maintaining focus and accomplishing the desired goal easier.
ASPIRE Worldwide Executive Support Program is a global service of Cornerstone International Group and an exclusive membership-based program serving all leadership levels, including CEOs, key executives, business owners, and emerging leaders. At ASPIRE, leaders learn and grow their businesses through a trusted environment. ASPIRE combines executive coaching, peer advisory, and mentoring service for executives from family groups and midsize companies. All leadership levels, including CEOs, important executives, business owners, and rising leaders, have solutions specifically designed for them.
