Organizational Strategies PPT Presentation - Final · Organizational Strategies PPT Presentation -...
Transcript of Organizational Strategies PPT Presentation - Final · Organizational Strategies PPT Presentation -...
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Linda BoundsVice President of Financial Services
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GOVERNANCE ?
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WHAT IS GOVERNANCE?
• Provides guidance for authority (Who)
• Communicates accountability and authority for important decisions. (What)
• Empowers employees to do the right things
• Protects the interest of
stakeholders
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1. Allows for quicker decision-making
2. Fewer embarrassments – “unauthorized”
3. Increases transparency
4. Lesson in delegation of authority
5. Creates sense of trust – well defined and fair treatment - empowerment
WHY IS GOVERNANCE IMPORTANT?
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WHAT IS OUR MIDWAYUSA’S APPROACH?
• Formal Organizational Governance
• Formal Departmental Governance
• Does not replace Company policy or job descriptions
• Part of overall Leadership System
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WHO SHOULD KNOW ABOUTGOVERNANCE?
• All employees in the organization
• Used every day in decision process
• Posted on “Great Wall” and on departmental intranet site
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HOW ARE THEY USED?
• All Organizational Governance items are part of the Board Agenda
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HOW ARE THEY USED?
• Provides transparency – Legal, Ethical, Regulatory Report
–Audit Report
–Risk Management Report
–Compensation Review
“Corporate governance is about shining a light
throughout the whole organization.”
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Effectiveness of Governance Documents themselves is not measured. However,
various measures are aligned as they relate to processes and reporting.
How are they effective?
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RESULTS• Performance improvement
– Profitability
• Efficiency
• Effectiveness
– Reputation
• Creating Value
– Employee Satisfaction
– Sustainability
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Linda BoundsVice President of Finance