Monthly Archives: January 2015
The company builds its corporate governance principles on the social responsibility culture it has developed since its foundation in 1933. Turkish Airlines has adopted the main cultural characteristics of the Turkish people: hospitality, helpfulness, and trustworthiness towards its shareholders, employees, customers, and society.
Sustainability and strong values are at the heart of the company and in everything we do. Based on our global green experience, we aim to be the clients’ first choice for green solutions. Skanska is also committed to enhancing workplace safety for its employees and for everyone involved in our projects. A caring and a learning culture along with an elaborate set of systems and procedures drive the Skanska safety strategy toward the zero accidents target.
For energy giant Iberdrola, one of the world’s five largest utilities and the world leader in renewable energy, being a company committed to the best business practices means that sound corporate governance should not be tick-the-box nor one-size-fits-all. Corporate governance, Iberdrola argues, is and must be a “sophisticated and dynamic discipline” where everything revolves around the creation of an ethical culture.
Governance has always been a critical strategic element for Exxaro, but three years ago we decided to develop a bespoke corporate governance strategy, in enablement and support of the overall group strategy, thereby truly crossing the Rubicon and starting our journey to a much more elevated focus on corporate governance. The strategy was underwritten by the principle of ‘corporate governance supporting and enabling the business strategy’ and ‘going beyond compliance’ instead of ‘governance for the sake of governance’.
GTBank views corporate governance not as an end in itself but a vital facilitator to the creation of long- term value for its stakeholders. The Bank continues to emphasize a value-led culture, high behavioural standards and robust procedures as fundamental tools in the entrenchment of a strong corporate governance framework. “In building our corporate governance mantra, we continue to review the external factors that present risks and opportunities for our business in order to ensure our strategy is appropriate,” said Mr Agbaje.
Nigeria took a very important step when it launched its Corporate Governance Rating System (CGRS). The Nigeria Stock Exchange working in partnership with The Convention on Business Integrity achieved this feat. But how will the CGRS make a difference to Nigeria’s economy, its companies or investors?
Consider the following statistics: about 80 per cent of all businesses in the Middle East and North Africa (MENA) are family-owned or family-controlled, creating nearly 70 per cent of all jobs and generating about 80 per cent of the region’s Gross Domestic Product (GDP) outside the oil sector. Family firms dominate in other regions as well, accounting for nearly two-thirds of all businesses worldwide. The counterbalance to these impressive statistics is another figure: some 95 per cent of family businesses around the world do not survive the third generation of ownership.
The Information Governance Initiative (IGI), a newly formed think tank and consortium of industry solution providers defines information governance as “The activities and technologies that organisations employ to maximise the value of their information while minimising associated risks and costs”. In accord with this definition, there are many facets of information governance - and IG decidedly should not be considered simply to be a rebranding of records management in the era of Big Data.