Three Examples of Governance Failures, and How to Avoid Being Next
Elon Musk’s Tesla Pay Deemed Excessive by Delaware Court!
Wells Fargo Fake Accounts Scandal Destroys Consumer Confidence!
Volkswagen Intentionally Deceives EPA Emissions Tests!
Examples of governance deficiencies are not hard to find. Even within well-known, well-respected global institutions who have (seemingly) limitless resources, governance deficiencies exist.
Nobody can comprehensively foretell what the future will hold (sorry, Zoltar!). Additionally, decision-makers are often inclined to minimize expenditures which do not directly and immediately drive their quarterly bottom-lines into higher profitability.
With all of that said, governance “doesn’t matter until it does”, and by then, when hindsight is 20/20, the damage has already been done.
Of course, budgets are not infinite, and other constraints (available personal, internal infrastructure, etc.) are unique to each business. However, working resourcefully to address governance and risk mitigation is always prudent business practice, and will protect an entity’s reputation, operations, and ultimately, their going concern in the long run.
If you’d like to hear more about how I can help to improve your organization’s governance, please message me or email me at [email protected]. I’d be happy to provide more information (or set up a call) to discuss a tailored plan to address any existing governance concerns you might have.