Education Policy | Post Primary | Preschool | Primary | Tertiary | Search

 


University launches corp governance course


UNIVERSITY LAUNCHES CORPORATE GOVERNANCE COURSE

New Zealand company directors need to do more to improve their standards of corporate governance, says a leading academic and experienced company director.

Wayne Cartwright, Professor of Strategic Management at The University of Auckland, is doing his bit by teaching a two-day course on the topic, aimed at senior managers.

The course, to be held at the University’s Business School this Wednesday and Thursday, will cover the basics of corporate governance, underlying ethical issues, the role of independent directors and the relationships between directors and management.

Corporate governance has been a hot topic since the Enron and WorldCom accounting scandals in the US and the failure of Australian-based insurer HIH and telecommunications company One.Tel.

“My assessment is that all is not particularly well in New Zealand, but corporate governance here is better than in the United States,” says Professor Cartwright.

One of the reasons for this is the healthy representation of independent directors on local boards.

Professor Cartwright, who has been an independent director of several companies, says independent directors bring a welcome level of objectivity to boards, but they need to do more to make their presence felt.

“The fact they’re independent often means they’re not as well informed about the business as are executive directors. Those who are better informed are generally those who wield the most power around the board table.

“Most independent directors spend two to three hours meeting once a month and just a few hours reading board papers beforehand.

“That’s just not enough time to get to grips with a business.”

New Zealand directors also tend to be appointed from a relatively small talent pool, dominated by individuals with similar backgrounds in accounting, finance and law.

Directors with technology, marketing and human resources backgrounds are less common, and this lessens the diversity of opinion around the board table.

Professor Cartwright says directors from more traditional backgrounds are more prudential and less likely to look to the future, to assess the impact of change on their companies and advise management how to respond strategically.

Another issue the course will address is the increasing tensions between the roles of directors and executives.

Responsible corporate governance requires directors to engage fully with strategic management issues. Their challenge is to do this without undermining senior management; conversely senior managers need to learn how to lead decisively without pre-empting directors. Next week’s course on corporate governance is one of more than 560 “short courses” the Business School has offered over the past six years to more than 10,000 participants. The courses are an integral part of the Business School’s philosophy of “Lifetime Learning” and attract a range of mature business practitioners. Details of the corporate governance course can be found at the website: http://www.shortcourses.

© Scoop Media

 
 
 
 
 
Culture Headlines | Health Headlines | Education Headlines

 

Electronica: Restoring The World’s First Recorded Computer Music

University of Canterbury Distinguished Professor Jack Copeland and UC alumni and composer Jason Long have restored the earliest known recording of computer-generated music, created more than 65 years ago using programming techniques devised by Alan Turing. More>>

ALSO:

Scoop Review Of Books: Almost Getting Away With Murder

The Black Widow by Lee-Anne Cartier: Lee-Anne Cartier is the sister of the Christchurch man found to have been murdered by his wife, Helen Milner, after an initial assumption by police that his death, in 2009, was suicide. More>>

Howard Davis: Triple Echo - The Malevich/Reinhardt/Hotere Nexus

Howard Davis: The current juxtaposition of works by Ralph Hotere and Ad Reinhardt at Te Papa perfectly exemplifies Jean Michel Massing's preoccupation with the transmigration of imagery in a remarkable triple echo effect... More>>

Scoop Review Of Books: Nō Tāu Manawa

Vaughan Rapatahana responds to Fale Aitu | Spirit House by Tusiata Avi: "fa’afetai Tusiata, fa’afetai, / you’ve swerved & served us a masterclass corpus / through graft / of tears & fears..." More>>

9 Golds - 21 Medals: NZ Team Celebrates As Rio 2016 Paralympic Games Close

The entire New Zealand Paralympic Team, led by kiwi sprinter and double gold medallist Liam Malone as flag bearer, are on the bus to the Maracanã Stadium in Rio de Janeiro for the Closing Ceremony of the Rio 2016 Paralympic Games. There, they will celebrate the fantastic successes of the past 10 days. More>>

ALSO:

New Zealand Improv Festival: The Festival Of Moments To Return To The Capital

The eighth incarnation of the New Zealand Improv Festival comes to BATS Theatre this 4-8 October , with a stellar line-up of spontaneous theatre and instant comedy performed and directed by top improvisors from around New Zealand and the world. More>>

ALSO:

Get More From Scoop

 
 

LATEST HEADLINES

 
 
 
 
Education
Search Scoop  
 
 
Powered by Vodafone
NZ independent news