An unsettling home truth lies buried at the heart of corporate governance in New Zealand. Despite being charged with carrying the can for their organisations’ performance, local directors have few tools at their disposal to measure their own strengths and weaknesses. That may be about to change.
How can a board ascertain how well its corporate governance stacks up against that of its peers or competitors? How can it know where to pool its limited resources for maximum effect? And how can individual current, or wannabe, directors best match their talents to the right organisation?
These and other questions have been taxing the brains of a large number of organisations for some time now. Earlier this year, company director Sandy Maier and Jens Mueller, associate professor for entrepreneurship and strategy at Waikato Business School, set up a nationwide survey to flush out the current state of play. Among other findings their survey, Directions 2006: Understanding Governance, revealed strong upcoming demand for new directors. It also showed some serious gaps in the current mechanisms for director selection, education and training.
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