Toolkit II – In PracticeThe Case of Bulgaria

Prof. Bistra Boeva Co-Chair of the Bulgarian Corporate Governance Code of Best Practice Task Force

and member of Private Sector Advisory Group (PSAG)

Managing the Process • The Scope• The Task Force• Master Schedule • Budget • Logistics • International Expertise • Code Peer Review• Evaluation of the Work of the Task Force • Future looking (ROSCs, Monitoring and Action Plan, etc

The Task Force- the human factor that changed the status quo of the Bulgarian CG milieu

• How the Task Force was established:• A core group of like minded people-

business, NGO, academia-regular participants in OECD SEE Roundtables on CG(2001-2006) ;

• BSE management;• Newcomers- representatives of the

Employers’ association, Government, consulting companies;

The quick transformation from a group to a team

• Short-term cycle of Forming, Brain-Storming, Formulating (of norms) , Performing;

• Motivated and responsible people;

• A good, balanced mix of knowledge and experience- lawyers, economists, sociologists,

Key factors

Key factors for the good working process of the Task Force:

- Composition in terms of experience and knowledge;- Well crafted assignment ;- Proactive Task Force members- Commitment of the Task Force members- Motivation and coordination instead of commands;- Monitoring and controlling of the execution of

assignments- Good communications within the Task Force

Standard Evaluation Criteria and Methods

• Why is it important to evaluate the Committee’s work?

• How to improve the Committee’s performance

• Staying on track and

• reassigning tasks

Principles of the evaluation process

• Good reporting procedures: meetings’ minutes; free discussions

• Strict or soft criteria for evaluation;

• Focus on results-based evaluation;

• A reliable and knowledgeable project manager;

• Good work examples instead of strict control and evaluation

Lessons learned

• Country specifics, Task Force composition determine some deviations from the Toolkit Guidance;

• Evaluation has to be based on “soft” criteria and on reporting of the progress of the execution of assignments at every meeting;

• A benchmarking approach instead of a formal evaluation of the Task Force members’ contribution

• Strict evaluation could block the initiative of proactive and enthusiastic Task Force members

Lessons learned

• The evaluation has to support the progress of the elaboration of the code

• Thank you for your attention!

• Prof Bistra Boeva