Governance as a Competitive Edge

When you think of Governance, what words come to mind? Does your mind jump to the traditional word association of compliance or do you view governance through a different lens, where concepts of curiosity, diversity of thought, and life long learning are applied?

This week on The Jasper Blueprint podcast I had the pleasure of speaking with Paul Smith a seasoned board director and futurist, to explore how governance can be transformed into a powerful competitive advantage.

Paul highlights the pivotal role governance plays in decision-making, stewardship of stakeholder interests, and the evolving nature of the board.

Here's the video if you want to jump straight in and watch my conversation with Paul, or if you prefer to listen scroll to the bottom of this page.

In answering the question “What’s the one thing every board director needs?” Paul’s answer is “CURIOSITY”! To which I would say amen and let’s expand that to being the one thing EVERYONE NEEDS!!!!

There are so many aspects of this conversation that I love but rather than point out every single one - because I really want you to jump in and listen to, or watch, the whole conversation - I'll just highlight a few key takeaways that struck me during the conversation.

• The board is just one part of governance… Governance and boards are just tools to help you achieve certain outcomes.?They are tools at our disposal to increase the chance of achieving our goals with as much certainty as possible in an uncertain world.?
• Communication and language choice is key… Frame it as a discussion about long-term strategy, who we can bring in to help us, what frameworks we can use to ensure we achieve our goals, talk about the outcomes you’re seeking to achieve (that’s the outcome of good governance and having the right people in the right roles).?
• Intentional governance mindset allows you to be more successful..... Ensuring everyone knows what governance means and what "good governance" looks like for your organisation. Identifying each individual's role and how it may impact or play into governance. Flowing on from this then comes both the internal and external accountability and overall ethics of the organisation.
• Stewardship for your stakeholders - who is impacted by your decisions? Stakeholder mapping can reveal overlooked perspectives that significantly influences decision-making and strategic direction of your organisation.

The best directors are lifelong learners!

Resources Paul recommended in the episode:

Future Directors Courses

• The two mentioned were: Building & Applying Governance Frameworks, and Managing your Board Processes.?

Books

• Right Seat Right Table
• Effective Directors: The Right Questions to Ask

Podcast

• OMG: One Minute Governance
• Future Directors

Connect with Paul on LinkedIn

This podcast offers a comprehensive guide to leveraging governance for strategic success. You can listen to our full conversation here on Linkedin or your podcast app.