Lately, multi-generational family businesses to non-family businesses havebegun asking us the following questions:
“Is Governance a fancy new term that makes you look good, or does itoffer a serious long-term sustainable advantage?”An offer that doesn’t limit to your business bottom lines but all stakeholders involved in your growth grows.
Is Governance a complexity added to already unmanageable operations we have? Especially when we are seeing crazy growth ahead, why should we add such complexity and along with comes the cost of beholding such function?
(This one is interesting)
Chetan bhai, we are traditionally rich and proud to create our path & methods. As a large family business, these concepts come and go, and we have proven that we don’t require any introduction to such western concepts. Our ownership group is all we need; we don’t need to listen to and pay heed to such concepts.
(Sadly, who can ever stop someone from taking their business towards death, I wonder)
Is Governance not more than bringing discipline to our strategic growth aspirations and enabling us to ensure we win the aims we set for
(This is some mature speak, I say, and truly it doesn’t matter what you call Governance – a banana or a monkey or OM or anything—if whatever you are happy to name has an architecture, design, and implementation of the robustness of creating growth. It is established and is working to accomplish objectives we love our business to attain on a growth cycle, then another bigger growth cycle, and so on!)
Respecting readers who reached this far reading this article, accept my sincere gratitude for caring for your own maturing without biases and judgements. I respect this learning streak in you and let me help you dive in the same judiciously
First, let us understand the offer governance put on the table unconditionally for unconditional growth
Governance shall be seen as below:
- It is a purpose-led profitability-driven non-leadership, non-management, and a most certainly non-ownership group of people
- It is not a group of the accomplished body at the top, and that’s it – it is a far-reaching function that begins at the apex and reaches down to the roots of the organisation, where results are made or unmade
- It is 7% people-centric and 93% systems, structures, methods, protocols, and rules-centric – Beholding a singular objective – that is, objectivity in business with people who have large reservoirs of emotional maturity and unreal appetite for growth
- Various boards, steering groups, commissions, committees, and focus groups are all part of Governance, with anyone not beyond 7% in their role but driving the system of growth and development, which is 93%
- Governance is not needed if you have decided to follow demand. It is a far too precious instrument if you are not aiming to lead your industry. So, in a nutshell, if you as owner choose to create growth as you wish, as you want and then Governance becomes supremely useful
- …. There are many more top themes and details that the article cannot do written for, but I guess the above begins giving an idea enough to start thinking
Thus, if you believe that 2023 is the year too late to not begin your intentional drive for creating and capturing lion’s share of growth and much importantly become in that a much savvy business thriving for generations to come, then think and begin the change.
Hope this added necessary thaw to your hesitation and fears or added necessary fire to an already existing fuelled decision of not following demand but creating at will, serving at will of customers/consumers/clients and not let a day pass sitting.
Always happy and honour to help!