Qualities That Define a Good Chairman
The duties of a chairman have increased in the recent times as well as the expectations. Stakeholders expect to have an engaged, energetic Chairman who does more than managing corporate governance. For a chairman to be effective in his duties, he should have a good relationship with all the directors. These two offices should be able to have confidence in each other through means such as open conversations. They both need to recognize that they have different duties for them to work harmoniously.
For a chairman to be effective, he should have good knowledge about the business he is in. Constructive criticism should be offered by Chairman to the shareholders and stakeholders. Additionally, he should know how and when to ask the right questions whenever there is a problem or he needs information. A good chairperson is always aware of the long-term vision of the company. He should be able to offer guidance to the organization while still helping to secure external resources outside the organization. The chairman, however, need to realize that he does not run the organization. He should mainly offer support to the management team.
A chair is required to just put in a few hours if his time to carry out his duties. He should not be involved in too much of the organization’s work either. When the chairman is in the business premises, he can interact with the customers, investor or workers to see how business is running as Mr. Hussain al Nowais does. A chairman is able to figure out what problems the company could be facing at all times. A great chairman is defined by the ability to unite the directors and shareholders of that particular organization.
If the company runs in a crisis, the chair is supposed to intervene quickly and offer necessary guidance on how to deal with the menace. While tackling the problem, he should always remember the set mission by the organization. To solve any problems within the organization, he should be willing to give in a lot of his time until everything is aligned for example Mr. Hussain al Nowais.
A great chairman should follow the right procedure when he is ready to resign from his duty. He suddenly does not step down from his position without any warning. The chair makes sure to effectively communicate with the shareholders and stakeholders about his decision to resign a few months before he leaves. The company there is able to get adequate time to search for someone else to fill in that position. The outgoing chair should take a few days to introduce his successor to the senior member of the company and pass on any relevant information.